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R <br />200110426 <br />C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that <br />the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent <br />of coverage to Lender. <br />D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable <br />to Borrower in connection with any condemnation or other taking of all or any part of the Property or the <br />common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned <br />and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security <br />Instrument as provided in Section 11. <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: (i) the abandonment or termination <br />of the PUD, except for abandonment or termination required by law in the case of substantial destruction by <br />fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to <br />any provision of the "Constituent Documents" if the provision is for the express benefit of Lender; (iii) <br />termination of professional management and assumption of self - management of the Owners Association; or <br />(iv) any action which would have the effect of rendering the public liability insurance coverage maintained <br />by the Owners Association unacceptable to Lender. <br />F. Remedies. If Borrower does not pay PUD 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 <br />secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these <br />amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, <br />upon notice from Lender to Borrower requesting payment. <br />BY SJONWG B LOW, Borrower accepts and agrees to the terms and provisions contained in this PUD <br />Ri r. <br />(Seal) (Seal) <br />Bruce Schutte - Borrower L Schutt8 - Borrower <br />_ (Seal) <br />- Borrower <br />_ (Seal) <br />- Borrower <br />_ (Seal) <br />- Borrower <br />1342706 (0104) Page 2 of 2 <br />_ (Seal) <br />- Borrower <br />_ (Seal) <br />- Borrower <br />_ (Seal) <br />- Borrower <br />01- 08- 000240 <br />