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200008616
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Last modified
10/13/2011 8:40:38 PM
Creation date
10/20/2005 9:52:05 PM
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DEEDS
Inst Number
200008616
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D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to <br />Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the <br />unit or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be <br />paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as <br />provided in Uniform Covenant 10. <br />E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior <br />written consent, either partition or subdivide the Property or consent to: <br />(i) the abandonment or termination of the Condominium Project, except for abandonment or <br />termination required by law in the case of substantial destruction by fire or other casualty or in the case of a <br />taking by condemnation or eminent domain; <br />(ii) any amendment to any provision of the Constituent Documents if the provision is for the express <br />benefit of Lender; <br />(iii) termination of professional management and assumption of self- management of the Owners <br />Association; or <br />(iv) any action which would have the effect of rendering the public liability insurance coverage <br />maintained by the Owners Association unacceptable to Lender. <br />F. Remedies. If Borrower does not pay condominium dues and assessments when due, then Lender may pay <br />them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured <br />by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall <br />bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from <br />Lender to Borrower requesting payment. <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this Condominium <br />Rider. <br />— <br />(Seal) <br />DIANE M FRIEND - Borrower <br />(Seal) <br />- Borrower <br />_(Seal) <br />- Borrower <br />(Seal) <br />- Borrower <br />Form 3140 9/90 <br />
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