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CONDOMINIUM RIDER 200006137 FHA Case No. 321 - 2066599 THIS CONDOMINIUM RIDER is made this 28th day of July , 2000 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed ( "Security Instrument ") of the same date given by the undersigned ( "Borrower ") to secure Borrower's Note ( "Note ") to Home Federal Savings and Loan Assn of Grand Island ( "Lender ") of the same date and covering the Property described in the Security Instrument and located at: 3027 WEST CAPITAL AVENUE #36 GRAND ISLAND, NE 68803 [Property Address] The Property includes a unit in, together with an undivided interest in the common elements of, a condominium project known as: [Name of Condominium Project] ( "Condominium Project "). If the owners association or other entity which acts for the Condominium Project ( "Owners Association ") holds title to property for the benefit or use of its members or shareholders, the Property also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of Borrower's interest. CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring all property subject to the condominium documents, including all improvements now existing or hereafter erected on the Property, and such policy is satisfactory to Lender and provides insurance coverage in the amounts, for the periods, and against the hazards Lender requires, including fire and other hazards included within the term "extended coverage," and loss by flood, to the extent required by the Secretary, then: (i) Lender waives the provision in Paragraph 2 of this Security Instrument for the monthly payment to Lender of one - twelfth of the yearly premium installments for hazard insurance on the Property, FHA Multistate Condominium Rider - 10/95 (® -586U (9705).01 Page 1 of 2 Initials: VMP MORTGAGE FORMS - (800)521 -7291