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<br /> CONDOIVIINiLT1� RYD�I� oozoa2�9se _
<br /> . THIS CONDOMIN[UM Et1DBtt is n�ade this 318T �Y of AU�UST • 198� �
<br /> nnd is incorporated into and sha11 bo deem�w amend�nd snppleaxnt the Mortgage,I�ed of Tiust or Secudty
<br /> Deai (the "Secudt�r [nstntment") af ttte same date given by the uncte�signed (the 'Bomnwer") to socum
<br /> 8omawer'sNotcto �b Equitable �uildirlg �ttd LAtu't Associntion of arand I81tlt1d,
<br /> Nebraak�, A �ederat 6avings 8ank
<br /> (f}lC°Y.CILdt!"�
<br /> of the same date anci covedag tha Pmperty described ia the SECUdty Instrument and locatat at:
<br /> 403 S MADISON
<br /> CaRANO I5LAND, NEBRA8KA 88�i01-8477
<br /> Ipropeny Address]
<br /> Tho Pmperty includes a unit in,togeaher with an uadivided interest ia the cummon e[ements of. a condominiwm
<br /> project knowu as:
<br /> (Nome oteondomfnium Pcojectl
<br /> (the "Condominium Project"). If the owners essactation or other endty which acts for the Condominium Prajoct
<br /> (the "Ovsrners Association') holds tlde to property for the benefit or use of ita rnembers or shaneholders. �he
<br /> Property also includes Botrower's interest In the Owners Associadon end We uses, pmceeds and bene8ts of
<br /> Bomower's interest.
<br /> CONDOMINIlJM COVENAN�'S. In addidon to the covenants and agreemenu mad� ia the Secuctty
<br /> Iastrument.Borrower and Lender fu�her covenant and agree as follaws:
<br /> A. CondomWum UbligatIoa9. Borrower shaA perform ail of Borrower's obl�etions under the
<br /> Coadominium Project's Consdtuent Dotuments. The"Consdtuent Documents"are the: (i) Declaration or aay
<br /> other documeat which creates the Condominium Project; (ii) by-laws: (iii) code of regulatians; and (iv) alher
<br /> equivelent documenta.Borrower shali prnmpdy pay, when due.all dues aad assessments imposed pursusut to the
<br /> Constituent Documents.
<br /> B.Hezerd IaSUrance. So long as the Owners Association mainteins,�vith a geaerally acoepted iasurance
<br /> '� carrier, a "raaster" or"blanket"polfcy on the Condominlum Project wdic�is setisfectory ta Lender and which
<br /> � ' pmvFdes insurance covenge in the amounts. for the perIods, and against the�azards Leader requires. Inctuding
<br /> fire and ha�ards included within the term"extended coverage."then:
<br /> (i) Lender waives the provision in Unlfonn Covenant 2 for the monttiiy payment to i.ender of the
<br /> yearly premium installraents for hazaM insurance on the Property;and
<br /> (fi) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance ooverage oa thB
<br /> Property is deemed satisfied to the extent that the required rnverage !s provided by the Ownecs Associatlon
<br /> pollcy.
<br /> Bornower shall give Lender prompt notice of any lapse in required hazard insurance ooverage.
<br /> In the event of n distribution of haTand insuran�proceeds ln lIeu of restoradon or repair following a loss to
<br /> � the Property,whether to the unit or to common etements,any proceeds payable to Borrower are hereby essigned �
<br /> �.� and shell be paid to I.ender for applicatlon to the sums secured by the Security Insuument.with any excess paid to .;
<br /> ���, Borrower. ���:
<br /> ,,��rr�L. v C. Publ[c LlabtUty Lesnrance. $orrower shatl take such actions as may be reasonable to insure that the ��!�
<br /> ''�''``'�� •�'` Owne�s Associadon maintaina a public liability insurance policy acceptable in fonn. amount. and extent of ::
<br /> ,�R;�, coverage to Lender.
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<br /> .'°t��''��'� MULTISTA4E CONDOMINIUM RIDER-Single FamftyFartnke MaelFroddle Mae UNIfORM INBYRUMENT Fnrm 3140 9�80
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<br /> ;�I,^�.4�•~�ry:: ��-8 19t081 VMP MORT6A6E FORMS•�3131283�8100•18001821•729i •r;.
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