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THrs CONDOMINIUM RIDER is made this .......??~................ day of ...............~.........................,19....~.!, and is incorporated into and shall be deemed to amend and supplement the Mortpge, Deed ofTrust or Security Deed (the "Security Instrument") of the same date given by the undersiped (the "Borrower") to secure Borrower's Note to................ .......~~..~..~..~..~..............................................................................................(the..Lender..) of the same date and coverinl the Property described in the Securi~rument and located at: ............Ul()l,...lQ9...~..~...$.~.'..,Wf~.~j"..A..~~.....@.~QL....................................~... The Property includes a unit in, together with an undivided interest in the common elements of, a condominium project known as: 'lbe y Condaninium .............................................................................!Ni.me~..PiO;iitii............................................................................. (the "Condominium Project"). If the owners association or other entity which acts for the Condominium Pro~t (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. CoNDOMlNtUM CoVENANTS. In addition to the covenants and agreements made in the. Security Instrument, Borrower and Lender further covenant and alrcc as follows: A. Ceadu...... OWiptloas. Borrower shall perfonn aU 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. ~ IDRnIICe. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "muter" or "blanket" policy on the Condominium Project which is satisfactory to Lender and which provides insurance coverqe in the amounts, for the periods, and aaainst the hazards Lender requires, including fire and hazards included -.ithin the term "extended coverage," then: (i) Lender waives the-provision in Unifonn Covenant 2 for the monthly payment to Lender of one-twelfth of _________the V~H!!~ium installments for hazard insurance on the Property; and ___._ (ii) Borrower's obligation under Unifonn Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association 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 following a loss to the Property, whether to Ihe unit or to common elements, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument, wilh any excess paid to Borrower. C. Public Lilllility luaraace. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in fonn, amount, and extent of coverage to Lender. D. ContIemution. The proceeds of any award or claim for damages, direct or consequential. payable to Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the unit or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender 10 the sums secured by Ihe Security Instrument as provided in Unifonn Covenant 9. Eo LeIIder's Prior Coasent. Borrower shall not, except after notice to lender and with lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abandonment or tennination of the Condominium Project, except for abandonment or termination required by law in the case of substantial destruction by tire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the Constituent Documents if the provision is for the express benefit of CONDOMINIUM RIDER 84--- 006815 Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any action which would hllve the eft'ect of rendering the public liability insurance coverage maintained by the Owners Aaociation u~ble to Lender. F, ....11(11 If Borrower does not pay condominium dues and llSlIeSSments when due. lhen Lender may pay them. Aft)' __ts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by t he Security I~. UnleM Borrower aad Lender agree to other terms of payment. these amounts shall bear interellt from I he dale of ~ at tile Note ratellnd shall be payable, with interest. upon notice from Lender to Borrower reque....ins payment. BY iroNING kl.ow, Borrower accepts and aarccs to the terlDli and provisions contained in this Condominium Rider. .. ...($Pal) .Ilor_ MUU18fATE. C~JM fttOf.R-~ IlIInIly...'liltMlfHlMC U,,",OftM INllftl.lMf.MJ It"", .H41l IllD3 4!H4ti 54\" lilV~Ufi''M3 AND H)AMti CHIl.',AUO II -1