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200113185 CONDOM I NI UM RI DER THISCONDOMINIUM RIDERismadethis 23rd day of November 2001 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument ") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to Guaranty National Bank of Tallahassee (the " Lender ") of the same date and covering the Property described i n the Security Instrument and located at: 3027 W CAPITAL AVE STE 4 GRAND ISLAND, NEBRASKA 68803 [Property Address] The Property includes a unit in, together with an undivided interest in the common elements of, a condominium project known as: Windsor Square Association [Name of Condo Mnium Project] (the "Condominium Project"). If the owners association or other entity which ads for the Condominium Project (the "Owners Association ") holds title to property for the benefit or use of its members or shareholders, the Property also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of Borrower's irrterest. CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the Security I nstrument, Borrower and Lender further covenant and agree as follows: A. Condominium Obligations Borrower shall perform all of Borrower's obligations under the Condominium Project's Constituent Documents. The "Constituent Documents" are the. (i) Declaration or any other document which creates the Condominium Project; (ii) by -laws, (iii) code of regulations, and (iv) other equivalent documents. Borrower shall promptly pay, when due, ai I dues and assessments imposed pursuant to the Constituent Documents. B. Property Insurance. So long as the Owners Association maintains, with a generally awed insurance carrier, a "master" or "blanket" policy on the Condominium Project which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, from which Lender requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as acondition of thiswaiver can change during theterm of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned and shall be pai d to Lender for appl i cati on to the sums secured by the Security I nstrumer t, whether or not then due, with the excess, if any, paid to Borrower. M ULTI STATE CONDOM I NI UM RI DER — Single Fami Iy— Fannie M aelFreddie M ac U N I FORM I NSTRUM ENT Form 31401/01 GREATLAND ■ ITEM 16231-1 (0011) (Page 1 of 2 pages) To Cider 611: 1-800-530-9393 EI Far: 616-791-1131