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<br />CONDOMINIUM RIDER
<br />Tills Cirvuumtxlrm Rtttt'R 1%made1111% 10th day of November .10 90 ,
<br />supplement the Mortgage. Died of TFUM of Securty Deed ithe
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<br />and is incorporated into and shall he deemed to amend and
<br />"zscuril> instrument ") of the same dale gtvatt by the undersigned (the "Iknrrower ') t}i sveore Borrower's Mote to
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<br />The Overland National Banc of Grand Island tthr"Lrinoler' ")
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<br />of the same date and covering the Property described in the Security Instrument and hwated at
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<br />2605 S. August Str., Grand Island, NE 68801
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<br />IProperty Addresst
<br />The Property includes a unit in, together with an undivided interest in the common elements of. a condominium project
<br />known as:
<br />Riverdale Hamlet: Condominium. Property Regime
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<br />(Name oa condominium bolo
<br />(the "Condominium Project "). If the owngrs association or other entity which acts for the Condominium Project (the
<br />�•`I �•
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<br />"Owners Association") holds title to ]Tmperty for the benefit or use of its members or shareholders, the 1roperty also
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<br />isnJudes Borrower's interest. itt: the Owners Association and the uses, proceeds and benefit~ of Borrower's interest.
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<br />CONDOWNICM Ccra16MA41TS. In addition to the covenants and agreements made in the Security instrument,
<br />:rte ==
<br />Borrower and Lender further. coyertant andagree as follows:
<br />CorAomialum Oirllgations. Borrower shall perform all 4f Soarrower's obligations under the Condominium
<br />7. ,
<br />A.
<br />Project's Constituent Documents. The "Constituent Documents" are lb,;�: (i) Declaration or au attar document which
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<br />creates the Condominium @TU.10. 00 13Y -laws'. ( iii) code of regulations..49,4 QP%I (taker c r�,iyalertt's3okattaaent s &arrower shall
<br />promptly pay, when due, aU dues and assessments imposed pursuant t4tibe' onstituemr Docurrtrncs
<br />4
<br />B. Hazard Insurance. So long as the Owners Association In- aimains, with a generally acrertev a
<br />f
<br />"master" or "blanket" policy on the Condominium Project wh to Lender and which proii des itssurancr
<br />fare hazatrda. included
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<br />coverage in the amounts, for the periods, and again4ii the hazards Lender requires, including and
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<br />within the term "extended coverage," then:
<br />(i) Lender waives the pro%isi, %n in Vniforrn Covenant 2 for the monthly payment to Lender of ,one- t%%elfth of
<br />the yearly premium installments for hazard insurance Etta she Property.": and
<br />(ii) Borrower's obligation under Uniforms Ceyenant g to maintain hazard insurance co%crage on the Property
<br />is deemed satisfied to the extent that the required coverage is provided by the Owner. Association policy.
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<br />Borrower shall give Lender prompt notice of any lapse in required hazard insurance rev erage."
<br />In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following u to .s to the
<br />Property, whether to the unit or to common elements, any proceed.•s payable to Borrower are hereby a%sngned and .hall he
<br />paid to Lender for application to the sums secured by the Security Instrument, with any rxcem paid to Horrou er
<br />C. Public Liability Insurance. Borrower shall take such actions as may he reasonable a} msura that the (tsvners
<br />Association mainaim a yu.u.rm: ,: r Awep tabs in f-rin_ am -mml, and extent of co%eraze to l.cader.
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<br />D. Condemnation. The proceeds of any award or claim for damages. direct or consequent tat. payable tar Ri- wrower in
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<br />connection with any condemnation or other taking of all or any past of the Property, whet her of the unit or .of the common
<br />elements. or for any conveyance in lieu of condemnacic %n, are lterehr as,igned and shall he paid t,- Lender. Such proceeds
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<br />shall be applied by Lender io the sums .cc uteri M the Secun—y Instrument as pro%Ided in Uniform Covenant 4.
<br />E. Lender's Prior Consent. Borrower shall" nos, except after notice to Lender and wit?( LenJtr% pnor %%niten
<br />consent, either partition or subdivide the Property or consent to:
<br />(t) the abandonment or termination of the Condominium Project, accept for abandonment or termination
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<br />required by law in the ease of substantial destruction by fire or other casualty or in the case of e 7,,ktrig by condemnation or
<br />eminent domain:
<br />tiii) any amendment to any provision of the Constituent Document. if the pi-m isnott is for the exprcws bcncht of
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<br />Lender:. •
<br />(iii) termination of professional management and astiumption of self ianagement 01' nhe O%%ncr. Association:
<br />a.:. ; ; ;
<br />or
<br />(iv) any action which would ha%a the effect of rendering the public liability in%uranro ro%erage maintained by
<br />the Owners Association unacceptable to Lender.
<br />F. Remedies. if Borrower does no pay condominium dues and assessments when due. then Lender may pay them.
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<br />Any amounts disbursed by Lender under this paragraph H shall tar.)tfie additional debt of Born - er secured by the Security
<br />Instrument. Unless Borrower and Lender agree to other terms of pay- mcnt. these amount%shall hear mtcresl from the date of
<br />disbursement at the Note rate and shall he payable, with interest. upon notice from Lender to Norrower requesting payment.
<br />BY SIGNING BELOW. Borrower accepts and agrees to the terms and provisions cofiEl ned inn this Condominium Kider.
<br />I. •Turner -Borrower
<br />`Harry
<br />Vivian F. Turner - Borrower.
<br />(Sao
<br />• - 8orrowe►
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<br />MULTISTATE CONDOMINIUM RIDER —s,gtE F.mlay- FNMA /FHLMC UNIFORM INSTRUMENT
<br />V W VORTGAGE FORMS • 1313,293 8!00 • 30052! 7291
<br />8 ,aroe
<br />V -
<br />- Borrower
<br />(Sipe Original OrHy)
<br />Form 3140 12/83
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