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<br />CONDOMINIUM RIDER84,---
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<br />0088.1;t
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<br />THISCONOOr.tINlUM RIDER is made this ........m....~........ day of .................~..............._.......;.I!~J:.,..
<br />aad is inc:orporatCd into and shall be deemod to amend and supplement the Morlgage, Deed of Trust or s.dri~~(t~
<br />"Security Inslrument") of the same daii&..ven~ u~ Ithe "Borrower") to scc:uRijorrower's Netet..,.....;........:. .
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<br />....................B..~..~l._..............".....~..................~.............,...._...........:.......................(~~,
<br />oflhe same dale and covering lhe Property described in the Security Instrument and IocatCdat:
<br />-.............................,........lOO..NJr.tb..~..~.....~..I~.1.~.,...~......~..............,....;....;.....
<br />[~ Address)
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<br />The Property includes a unit in. together with an undivided interest in the common elemeal~ of, II ~"."f
<br />known lIS: .
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<br />-........'.....'..____._...'...........'.__.._.._____....'_.Th~..x:~~.t...~..~;~,__...,......................._.,..............,......................:.......
<br />1- of Condominium ProjeCt}
<br />(the "Condominium Project"). If the owners association or other entity which acts for theCood;)mfniusn;Projcet(~
<br />"Owners Associlltion") holds title to property for the benefit or use of its members or sharcholdcn. IhcProperty_
<br />includes Borrower's interest in the Owners Association and the uses, proceeds and benefits ofBorrower's interest:.
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<br />CONDOMINIUM CO\lENAl'o'TS. In addition 10 the covenants and agreements made in. the' Sec-drity Instrument,
<br />Borrower and Lender further covenant and agree as follows:
<br />A. c-denainium OItliglltions. Borrower shall perform all of Borrower's obliglltions under lhe COndomini_
<br />Project's Constituent Documents. The "Constituent Documents" are the: (i) Declllflltion or any other document ,wmcb
<br />creates the Condominium Project; (ii) by-laws; (iii) code of regulations; and (iv) other equivalent documents. Borrower shall
<br />promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents.
<br />B. Haunlluuance. So long as the Owners Association maintains, with a generally acceptCd insul"llRCe cacrier, a
<br />"master" or "blanket" policy on Ihe Condominium Project which is salisfaclory to Lender and which provides insurance
<br />covefll&e in the amounts, for lhe periods. and against the hazards Lender requires, including fire and hazards included
<br />w}tmn the lerm "extended coverage,:' then:
<br />(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one-twelfth of
<br />------i11c~Y1JRtlritmlinstalllllclII~ 1'lJi IIlU,..d ill~UI iUI(:c'UIrttre-P-ropl.>ft].1md
<br />(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property
<br />is deem<<I satisfied to the extent that the required coverage is proVIded by the Owners Association policy.
<br />Borrower shall give Lender prompt notice of any lapse in required hazard insurance coverage.
<br />In the event of a distribution of hazard insurance proceeds in lieu of restoration or repatr following a loss to lhe
<br />Property, whether to the unit or to common elemcnts, any proceeds paYllble to Borrower are hereby 3-'\Signed and shall be
<br />paid to Lender for appiicalion to the sums scc:ured by the Securily Instrument, with any exces.<; paid to Borrower.
<br />C. PuIItic LiaWUty Iuuance. Borrower shalllllke such actions as may be reasonable to insure that the Owners
<br />Association maintains a public liability insurance policy acceptable in form. amount. and extent of coverage to Lender.
<br />D. ~ The proceeds of any award or claim for damages. direct or consequential, payable 10 Borrowcr in
<br />connection with any condemnation or other taking of all or any part of the Propeny, whether of the unil or of the common
<br />elements. or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds
<br />sItlI1l be appJied by Lender to the sums secured by the Security Instrument as provided in Uniform Covenant 9.
<br />Eo Leeder's Prior C_t. Borrower shall not. except after notice to Lender and with Lender's prior written
<br />consent, eilher partition or subdivide t he Property or consenlto:
<br />(i) the abandonment or lerminatlon of Ihe Condomimum Project. except for abandonment or terminal ion
<br />rcqWrCd by law in the case of substantial destruction by fire or other casUlllty or m Ihe case of a laking by condemnalion or
<br />esniMm domain;
<br />(ii) any amendmenlto !lilY provision of the Constituent Documents if the provision is for the express benefit of
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<br />Lender;
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<br />(iii) terminlltion of prol'es.~ional management and assumption of self-management of the Owners As.~iation;
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<br />or
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<br />(iv) any action which would have the elrect of rendering the public liability insurance coverall-e mamlained by
<br />the Owners ASliOCiation unacceptllble to Lender.
<br />F. ....di'..lfBorrower does not pay condommium dues and assessments when due, Ihen Lender may pay lhem.
<br />Any amoums disbursed by Lender under this patllJraph F shall become additional debl of Borrower secured by Ille Security
<br />I_rumen\. UnJcu Borrower and Lender agree 10 olher lerms of payment, Ihese amounls shall bear inlerest frc.n\ the date of
<br />~t lit the Note rate and shall be payable, with interCllt. upon notice from lender 10 Borrower requesting payment,
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<br />BY SlaNINa kww, Borrower accepls and aarccs to the terms and provisions contained in this Condommium Rider
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<br />Art N. Fllrtscher
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<br />.Ian L. Burtscher cc.,.J,,~
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<br />....'.fATf CONOIlUtlUM RIO(R-~~ ! ~y.--fNMAlfmMC UlWOOM lH$lRUMtNl
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<br />~Ofm ,i140 12{8~~
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