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2� 17�� 198 <br /> � <br /> "ex�ended co��rage," ar�d any ath��hazards,{�nc[uding, �u��nv�'��,�ified�a, ear�hquakes and flovds, <br /> frvm�vuh�ch Lender r�quires insu�-ance, �hen: �i} Lender waiW�s �he prvW��ion in �ecfiifln 3 fvr �he <br /> Periadic Paymenf �o Lende�- of �he yearly premium �ns�al�mer�ts for prvp��fy �nsurance on the <br /> Pr�perty; and �ii} B�rrower's ab��ga�ian under Sec�ivn 5 to mainta�n property��nsuran�� co�erage� <br /> �n �h� Prap�r�y �s deem�d sa��sf�d �o fh� ex�ent �haf �he �required co�era�e �is pr�Wid�d by the <br /> �wner�A�soc�a��on pol�cy. <br /> , <br /> VVhafi Lende� requi�es �s a condifiion of this �nrai��r Gan change dur�ng the ferm of �he <br /> '�van. <br /> Bor�ower shall g�Ve �L�nder �prvmp� �no�ice af any ��apse in requ�r�d praperty �nsu��nce <br /> co�erage provided�by the rnas��r��blanke�pa�icy. <br /> �n �he eWenfi vf a�d�stributi�n of praper�y insurance,proceeds�in �leu of�res�vrafi�on�or�repair <br /> fo[�vwing a�ass�o�he Property, �vh��her�o{�he�un����r�a,c�m��on ��emen��s,�any pr,oceeds�paya�le <br /> to Borrvvver are hereby assigned and snal( be pa�d #a Lender�f�r app�icaf�on �o the sums s�cu��d <br /> by�he S�cu�i�y�nstrumen�, whe�he�or nat�h�n due, w��h�he�excess, if any, pa�d�a`Ba�rower. <br /> �. F�uhlic Liah��ity ���uranc�. B�rrvinrer �ha[1 �ake such actEons as may be reas�nabie <br /> �o �nsure tha� �he Dwners Assvc�a�i�n main�ains a pub�ic l�abi�ity �nsurance policy acceptab[e in <br /> fo�m, amoun�, and ext�n�of cav�rage fio Lender. <br /> L�. Condemn�tion. The pr�ceeds of any award or cla�m far damages, d�rect or <br /> consequential, payable�� E3o�rvwer �n connection with any,cflndemna�ion ar oth�r�aking of al! ❑r <br /> any �ar�of��he Praper�y, whe�her af�he un��ar vf�he comrnan ���men�s, or far any can�eyance in <br /> 'lEeu �f cvndemnation, are he�-eby assigned and �hail be�pa�d �� Lender. Such� praceeds shal� be <br /> app'li�d by Lender�o�he sums secured�by the Secu�i�y�ns�rument as�prauid�d in Secfion '�'�. <br /> 'E. Le�der'� P�r�a� ���ser�t. Borrower s'hail �nvt, �xcep� a�ter r,�o��ce �v�Lender and �nr��h <br /> �Lender's prior wr�t�en c�ns�n�, e��her� parti�ian or subdiuide �th� 'Praperty ar consertt �o: �����} ��he <br /> a�andonmenfi ar termina��an of�he �ondominium Projec�, �xcep�for aband�nmen� vr ter,mrn���on <br /> �requir�d by �a�rv in �he case of subs�antial desfruction by fire �r a�her casua��y or in the cas� of a <br /> �al��ng by cvndemna�ian ar em�nen� damain; �ii} any am�ndm�nt to any pr���sivn af �he <br /> �ons��tuenf Documen�s �f �he pro�is�on is far th� expr�ss ben���� af L�nd�r; ����} �erminatian of <br /> professional manag�rnent and assump�ion of self managemen�of#he �v�rners Assv�ia�i�n; �r���} <br /> any action which wau�d ha�e �he �ffec# �of r,ender�ng �he �pu�al�� fiabi�ity ��nsurance �overage <br /> ma�n�a�ned by the�wners Associa�Eon unaccep�ab�e to Lender. � <br /> 'F. Rer�edies. 1f'Borrower d�es,not pay candom�n�um dues and assessm�n�s�nihen due, <br /> ��hen Lender may �pay �them. Any amvun�s disbursed by Lender under fh�s �paragraph �F sha�f <br /> � laecome a�ldi�iona� deb� of'Bor�ouver secured �by the �Secur��y lns�rum�n�. Un�ess BQrrower and <br /> �Lende� agree �to o�he� f�rrns vf �paymen�, these �amaun�s shall ib�ar in�ere�� fr�m �he da�� of <br /> disbursem�nt a� �the fVote ra#e �and shall be payable, w��h� in�eres�, upon notiice from Lender fQ <br /> Bv�rower reques��ng paymen�. <br /> ; � � i �, , <br /> ' � l <br /> � , , <br /> � <br /> , <br /> , , , <br /> � ' <br /> '"C g � Z $ ''k 7"r M C C N D R D R * <br /> M�LTtSTATE C�ND�M�NlUM RlDER--Smgle Fami�y—Fannie MaelFreddie Mac UNiFDRM�1V5TRUME{VT Form 3'�4{1 1I�'t <br /> Martgage Cader�ce Document Center Q 3202 Q�1'14 (page 2 af 3 pages) <br /> � <br />