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<br /> � 0020028366
<br /> -- COND4MINIUM RIDEI� -
<br /> THIS CONDOMI�VIUM RIDER is nwcte this q'�H Jay of JANUARY � 199� �
<br /> uncl is inenrEx�rateci into uexf shall be deemed to an�end pnd supplement the Mortgage, Deed of Tnist or Securit,y
<br /> lle�.Yl lll�c "Securily (nstrumcnt") of thc samc datc givcn by thc: undersigned (the "43orr��wcr") to secure --
<br /> Borrower'sNoeet� The Equitable Building and Loan Association'of Grand Islend,
<br /> Nebraske, A Fe�ierdl 5e►vings Bank
<br /> (the"Lencler")
<br /> of the same dnte and covering the Propeny dcscribal in the Security lnstrurnent and located at:
<br />- 123 N LOCUST, UHIT 1I44
<br /> GRAND I SLAND, NEBRASI:A 68801
<br /> �P�o�ny naarcs5�
<br /> The Property includes a unit in,together with un undivided interest in the common elen�ents of,a condominium
<br /> project known as:
<br /> �Namc uf Crnxlominium P�uject�
<br /> (tht "Condominium Project"). lf the owners association or other entity which act, for the Condominium Project
<br /> (ttie 'Owners Association") halJs title to propcny for the benefit or use uf its members or chareholders, the
<br /> Property nlso includes Borrower's interest in thr. Owners Associatian and the uses, proceecis anci benefits o(
<br /> Borrower's interest.
<br /> CONDOMiNIUhi COVENANTS. It� addition to the covenants and agreements made in the Security
<br /> Instrument,Borrower and Lender further covenant and agree as follows:
<br /> A. Condomintum ObligQtions. Borrower shall perfomi ail uF 8orrower's obligations under the
<br /> Condominium Project's C.onstituent Documents. The "Constituent Documents" are the: (i) Beclaration or any
<br /> other document which crestes the Condominium Project; (ii) by-taws; (iii) code of regulations; and(iv) other
<br /> equivalent dacuments.8orcower shall promptly pay. when due,all dues and assessments imposed pursuant to the
<br /> �vi�.iiilUcTit�."3:.i+:i'w��t�.
<br /> B.Hazard In�urance. So long as the Owixrs Association maintains, with a generally acceptai insurance
<br /> carrier, a "mast:r" or "blanket" policy on the Condominium Project which is satisfactory to l.ender and which
<br /> provides insurance coverage in the umounts, for the pericxls, and against the h;izards I.en�er requires,including
<br /> fire arxi ha7ards included within the term"extended���rC�age,"then:
<br /> (i) Lender waives the pruvision in Unifornn Covenant 2 for the monthly payment to l.ender of the
<br /> yearly pr�mium installments for hazard insurance on the Propeny;aexi
<br /> (ii) Borruwer's obligation under Uniform Covenant 5 to maintuin hazard insurance coverage on the
<br /> Property is detmed satisficd to the estent that the requireci covcrage is provided by the Owners Association
<br /> policy.
<br /> Bc�rrower shall give Lender prompt notice of any lapsc in required hazard insurance coverage.
<br /> In the event of a distribution of hazard insurance proceeds in lieu of rcstoration or repair following a loss to
<br /> thr propecty, w6tther to the unit or to comrmm elements,any proceals payable tu[iorrower ue hereby assigned
<br /> dnd shal!be paid to Lrnder for application to the sums secured by the Security Instrument, with any excess paid to
<br /> Borrower.
<br /> C. Public Liability I�uurance. Borrower shall take such actions as may be reasonable to insure that the
<br /> Owners Association maintains a pubiic liability insurance policy acceptable in form, amount, and extent of
<br /> cover.�qe to Lemier.
<br /> MULTISTATE CONDOMINIUM iiIDER-Single Family-F�nni�Ma�IFr�ddi�Mac UNIFORM INSTRUMENT Form 3'140 9190
<br /> �•8 1'31081 VMP MOHTGAGE FONMS•13131293�8100-18001521�7291
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