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200110143 <br />and (ii) Borrower's obligation under Paragraph 4 of this Security Instrument to maintain hazard <br />insurance coverage on the Property is deemed satisfied to the extent that the required coverage is <br />provided by the Owners Association policy. Borrower shall give Lender prompt notice of any <br />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 <br />loss to the Property, whether to the condominium unit or to the common elements, any proceeds <br />payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums <br />secured by this Security Instrument, 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 <br />creating and governing the Condominium Project. <br />C. 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 C shall become additional debt of <br />Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms <br />of payment, these amounts shall bear interest from the date of disbursement at the Note rate and <br />shall be payable, with interest, upon notice from Lender to Borrower requesting payment. <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this <br />Condominium Rider. <br />— (Seal) <br />- Borrower <br />— (Seal) <br />- Borrower <br />— (Seal) <br />- Borrower <br />— (Seal) <br />- Borrower <br />�(IIlC.Z1(C� ,GitLfZC�C� (Seal) <br />AMANDA R KRANAU - Borrower <br />®& (9705) Page 2 of 2 <br />— (Seal) <br />- Borrower <br />— (Seal) <br />- Borrower <br />— (Seal) <br />- Borrower <br />