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. 2� 1 �� 12� B. Property �nsurance. So long as the Dwners Associatian maintains, with a g�nerally accepted insurance carrier, a "master" or "blanket" palicy insur'rng the Property which is sat�sfactory t� Lende� and wh�ch pr��id�s insuranc� co��age in th� amaunts �including deductible le�els}, for the periflds, and again�t [�ss by fire, hazards incfud�d within th� term "�xtended co�era�e," and any �ther ha�ards, includin�, but nat �im�ted to, earthquakes and fl�ods, far which Lender re�uires insu�ance, then: �i} Lender wai�es the pra�isian in Section 3 for the Period�c Payment to Lender of the year�y premium insta��ments for property in�urance -, an the Prvperty; and �ii} Bvrrower's obligation under Section 5 to �aintain property insurance �o�erage an th� Pr�pe�ty is deemed satisfied tv the extent that the required ca�e►-age is pr��ided by tne �wn�rs Associati�n p��icy. � Vtlhat Lender requir�s as a conditi�n of this waiWer can �hange during the term vf the �oan. Bor�ower shall gi�� Lender prompt natice of any �apse �n requ�red praperty �nsurance co�erage pro�ided by the maste� or bfanket p�licy. In the e�ent of a d�stribution af property insuranc� proceeds in lieu af r�starat��n or repair f�llowing a I�ss t� tne PrQperty, or to comm�n areas and faci�ities of the PtJD, any proceed� payab�e to Borrower a�e hereby assigned and sha�� be paid tQ Lender. Lender sha�� apply the p�oceeds to the sums secured by the Security �nst�um�nt, whether or nat tnen duel with the �xcess, �f any, paid to B�r�awer. �. Puhlic Liabifity �nsuran�e. B�rrower shal! take such actions as may be r�a��nab�� t� insure that the �vvners Assaciat�on maintains a pub�ic liabi�ity insu�ance p�licy a�ceptable in form, amaunt, and extent af ca�e�age to Lender. D. �andemnation, The proc�eds of any awa�� ar c�aim far damages, direct or consequential, payab�� ta Barrower in cnnn�ction w�th any condemnati�n �r �ther taking of ail or any part of the Praperty ar the comman areas and facilit�es of the PUD, or for any c�n�eyance �n lieu of condemnatiQn, a�'� hereby assigned and sha�� be paid to Lender. Such praceeds sha�� ae app�ied by Lender t� the sums secured by t�e Security �nstrument as pra��ded in Sectivn 1 �. E. Lender`5 Privr Consent. Borrvwer shall not, �xcept after notice to Lender and with Lender's prior w��tten consent, either �ar�itian a� subdi�ide the Pro�e�ty or cvns�nt t�: �i} the abandvnment a� te�minat�on �f the PUD, except for abandonment �r terminati�n re�u�red by �aw in the cas� of substantial destru�ti�n by fire ar �tner casua�ty �r in the case of a taking by candemnat��n �r �minent domain; �ii� any amendm�nt tv any pro�isian of the "Constituent Documents" if the pra�ision is for th� express benefit of Lender; ��i} termination of professional management and assumptian af self�management �f the Dwners Associatian; ar 4i�} any aet�on which would ha�e the effect �f rende�in� the public liability insurance �a�erage mainta�ned by the 4wners Assaciatian unacceptab�e ta Lender. F, Remedies. lf Bvrrvwer daes n�t pay PUD dues and assessments when due, then �end�r may pay them. Any amaunts disbursed by L�nder unde� this paragraph F shall bec�me additional d�bt �vf Barrower se�ure� by the �ecurity Instrument. Unless Bvrrower and L�nder agre� to vther t�rms of payment, th�se an�aunts shall bear int�rest frvm th� date �f disburs�ment at the N�te rate and sha�� b� payable, with int��est, upar� nvtice from Lende� to Borrower requesting payment. MULT�STATE PUD R�DER - Single Family - Fannie MaelFreddie N1ac UNIF�RM INSTRIJMENT VMP�-7R ��8�1} Page � af 3 �nitials: � Fvrm �'15a �!4'1 . ��