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201806701 <br />hazard insurance on the Property, and (ii) Borrower's obligation under Paragraph 5 of this Security <br />Instrument to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that <br />the required coverage is provided by the Owners Association policy. Borrower shall give Lender prompt <br />notice of any lapse in required hazard insurance coverage and of any loss occurring from a hazard. In the <br />event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the <br />Property or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby <br />assigned and shall be paid to Lender for application to the sums secured by this Security Instrument, <br />with any excess paid to the entity legally entitled thereto. <br />B. Borrower promises to pay all dues and assessments imposed pursuant to the legal instruments creating <br />and governing the PUD. <br />C. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any <br />amounts disbursed by Lender under this paragraph C shall become additional debt of Borrower secured <br />by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts <br />shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon <br />notice from Lender to Borrower requesting payment. <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this PUD <br />Rider. <br />C(JUNAL (Seal) e el, I nIck m Fin {c) (6 (Seal) <br />Fernando Roduez Raya -Borrower Paloma M Franco <br />-Borrower <br />FHA — MULTISTATE PUD Rider 1/2015 <br />Page 2 of 2 <br />IDS, Inc. <br />WiIIdP���P�lllll <br />