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L CONDOMINIUM RIDER 84 -006787 THts CONOO~l"lIUM RIDER is made this .............:?atP........... day of .............~............................ 19..8..... and is incorporated int? and sball be deemed to amend and supplement the Mortgase. Deed of Trust or Security Deed (the "Security Instrument") of the same date pven by the undersiped (the "Borrower") to secure Borrower's Note to ................ .........................~~y...~..~...~.~............................................................................(the..Lender..) clUte same date and cmrmns: the Property described in the Security Instrument and located at: ..............I.1Q~.i...!~..~..~t..s.~.....~.~.apd,...Nabraaka.....688Q1........................................... The Property includes a umt in. together WIth an undivided interest in the common elements of, a condominiumprojeet kROWft as: ........................................................................~Ne!.~......................................................................... (the ''Condominium Project"). If the owners association or other entity which acts 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 interest. CoNDOMINIUM CoVENAlIoTS. In addition to the covenants and agreements made in the. Security Instrument, Borrower and Lender further C(lvenant and IlIree as follows: A. CoIIIIomim- 0ItUpliiles.. Borrower shall perfonn 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, all dues and assessments imposed pursuant to the Constituent Documents. B. HuanlllIIUI'IIICe. So long as the Owners Association maintains. with a generally accepted insurance carrier, a "master" or "blanket" policy on the Condominium Project which is satisf:!c!ory to Lender and which prO\'ides insurance coverage in the amounts, for the periods, and against the hazards Lender requires. including fire and hazards included within the term "extended coverage," then: (i) Lender waives tho provIsion in Uniform Covenant 2 for the monthly payment to Lender of one-twelfth of the yearly premium installmenls for hazard insurance on the Property; and - -(ulBOiTowuS06lipflon 'unaerumtorm Covenan'tTIomiUrifiil'i1"fiizardmsurancecoverage-<:m-ThePrOperty -'----- is deemed satisfied to the extent I hat the required coverage is provided by the Owners Associauon policy. Borrower shall give Lender prompt notice of any lapse in required hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair followmg a loss to Ihe Propert)., whether to the unit or 10 common e1emenls. any proceeds payable to Borrower are hereby a.~signed and shall be paid to Lender for application to the sums secured by the Security Instrument, with any excess paid to Borrower. C. PtmIk IJalrility Insul'llllCc. Borrower shall take such actions as may be reasonable to insure Ihat the Owners Association maintains a public liability insurance policy acceptable in form, amounl, and exlen! of coverage In Lender. D. Condemnation. The proceeds of any award or claim for damages, direcl or consequenlial. payable to Borrower in connection with any condemnation or other taking of all or any part of the Property. whelher of thc unit or of the common elements, or for any l:onveyance in lieu of condemnation. are hereby assigned and shall be paid 10 Lender. Such proceeds shall be applied by Lender to the sums secured by the Securily Instrument as pro\'ided in Uniform Covenant 9. E. Leader's Prkw Consent. Borrower shall nol. except afler notice 10 Lender and with Lender's pnor written consent. either partition or subdivide the Property or consent to: . Ii) lhe abandonment or lermination of Ihe Condommium Project. excepl for abandonment or lerminalion required by law in the case of substantial destruction by fire or other casualty or in Ihe case of II laklllg b)' condemnation or emi_t domain; (ii) any amendment to an)' proviSIOn of the Constituent Documents if the provision h for the express benefit of Lender; (Iii) termmallon of professional management and assumption of self-management of the Owners Association; Of (jv) any action which would have the effect of rendering the public liability insurance coverage mamlamed by tlte Owmm Assocllllion unlll.'Ceptable to Lender. p, RI.ellles. If Borrower does not pay condominium dues and as_ments when due. then Lender may pay lhem. Any ~II disbursed by Lender under I his paragraph F shall become additional debt of Borrower secured by I he S~'urit y I~t. Un'- Borrower and Lender agree to other terms of payment, these amounls shall bear il1lerest fromlhe date of ~~t at the Nole rate and shllll be payable. wilh interest. upon notK.~ from L.ender to Borrower reque~llni: payment. BY SKlNtNO Bfl.ow. Borrower aGeepts and alreell 10 the lermsll.nd proVIsions contained in thi\ Condmnimulll Rider. .. . (!W4d) il<lfrt_ Ilj~ "',-..(Se,i1I) '""- Patdeia L. l.in(ler MUlTl$l'AU C~II~M RtO(R~,.~,,'II~ r_vfNUA/'Ht,MC tJ",'OOM l~llT~U"'UH It,,,,, \ U 0 1 2 !Iii! H~ $Af ftl>!Hf!:Nli\l AND t~'~Mfi; t1~c"@\' II