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<br />CONDOMINIUM RIDE~4-- 002746
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<br />THIS CONDOMINIUM RIDER is made this ,.......~),J;,9,......,...... day ~f .......,....,........,.M;l.y...,....,.,.................... 19,a:4.....
<br />and is incorporated into .nd shall be deemed to amend and supplement a Mortgage. Deed of Trusl or Deed to Secure Debt
<br />(herein "Security Inslrument") dated of even date herewith. given by the undersigned (herein "Dorrower") 10 secure
<br />Borrower's NOle to ..~;l.Ji;,:j,s;m,aJ....8ank.. af,.,Coromer,ce.,.T.r:l.1sti,.,a.n.;l...S..,,,..j,.n<;Js..,:As-s,o.::1:8'l:1:cm.....'........
<br />......,.,......,.'...~'..a'::r\L,., (herein "Lender") and covering the Property described in the Security Instrumenl and
<br />localed al: ",.. ..~.7,. , ....La.kew,oQd"."Gr.aDd.,IS.b-~~{'AJ1~~F.a.g&a-,,6S.80:l:....,... ..,.. ....,.......,........,.........'...........
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<br />The Properly comprises a unit in, tOt ether with an undivided interesl in Ihe common elemenls of. a condominium project
<br />known as ". .,B..J;,~,~.!::':()g,q".l:l.Y. c:.t;"'~:c,4,9.)s.~,.,s;:,on,c;l,Q.ro.:ini,um.,.P..I:aper.t.y...Regi.me,..I.................,....................
<br />(Name of Condominium Project)
<br />........................................... (herein "Condominium Projecl"). If the Owners Association or olher governing body of the
<br />Condominium Project (herein "Owners Association") holds title to property for the benefit or use of its members or
<br />shareholders. the Property shall also be comprised of Borrower's interest in the Owners Association and theproeeeds of'
<br />such interest.
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<br />CONDOMINIUM COVENAr.'TS. In addition to the covena"t~ and agreements made in the seCurity In$tru_m:ent~
<br />Borrower and Lender further covenanl and agree as follows:
<br />A. Assessments. Borrower shall promptly pay. when due. all assessments imposed by the Owners Assoc:iatiO!lc'
<br />pursuant to the provisions of Ihe declaration, by-laws, code of regulations or other constituent documents of the ColidQ.;
<br />minium Project.
<br />B. Hazard Insurance. So long as the Owners Association maintains a "master" or .ublankef. _policy'. '~~if:l:l,-~i.'
<br />satisfactory in form to Lender. with a generally accepted insurance carrier on the Condominium Projectand....hic:h,proviileS'-
<br />insurance coverage in such amounts. for such periods. and against such hazards as Lender may require. 'includin-g,'fire':,and
<br />hazards included within the term "extended coverage", then:
<br />(i) Lender waives the provision in Uniform Covenant 2 for the monlhly payment to Lenderofone-twclfth,o(
<br />the premium installments for hazard insurance on the Property: and
<br />(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on:the ,Property-is--,
<br />deemed satisfied to Ihe eXlent thaI the required coverage is provided by the Owners Association policy.
<br />Borrower shall give Lender prompt notice of any lapse in such required hazard insurance coverage,
<br />In the event of a distribution of hazard insuranc'e proceeds in lieu of restoration or repair following a loss to the
<br />Property, whether to the unit or to common elements, any such procecds payable 10 Borrower arc hereby assignedandshaU
<br />be paid to Lender for application to the sums secured by the Securily I...strument, with the escess, if any. paid to Botrower,
<br />C. Public Liability Insurance. Borrower shall take such acltons as may be reasonable to insure that the Owners
<br />Association maintains a public liability insurance pt.llicy acceptable in form, amount, and extent of cov-erage.,t,o Le~c:l~r.
<br />D. Condemn.tion, The proceeds of any award or claim for d3mage~, direct or consequential, payable ,to_:BOt-r~\Verdn
<br />connection with any condemnation or other taking of all or any part of the Property, whether of the unit-or of t-be-C01i'lft1~
<br />elements, or for any conveyance in heu uf condemnation, arc hercby assigned and shall be paid to Lender. Such'proc~s'
<br />shall be applied by Lender to the sums secured by the Security Instrument in the manner provided under Uniform. Covenant:
<br />9,
<br />E. Lender's Prior Consent. Borrowcr shall not, except arrer notice to Lender and with Lender's pri.or .writt~"~
<br />consent. either partition or subdivide the Property or \'":onsent to:
<br />(i) Ihe abandonment or termination of the Condominium Projecl, except for abandonment or termination
<br />required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or
<br />eminent domain;
<br />(ii) any amendmenl to any provision of the declaration. by-laws or code of regulations of Ihe Owners
<br />As.sociation. or equivalent constituent docnments of the Condominium Project (herein "Constiluent Documents") whic:his
<br />for the express benefit of Lender;
<br />(iii) terminalion of professional management and assumplion of self-management oft he CondominiumProjec:t
<br />Owners Association; or
<br />(iv) any action which would have the effect of rendering the public liability insurance coverage maintai!led by
<br />the Owners Association unacceptable to Lender. .
<br />F. Notic:e to Lender. In addition to nOlices required to be given Lender by the terms of Ihe Security Instrument,
<br />Borrower shall promplly give notice to Lender of any material amendment to any provision of the Constituent Documents
<br />and also of any amendment to a material provision thereof. Examples of material provisions include, but arc not limited- to.
<br />those which provide for, govern or regulate; voting or percentage interests of the unit owners in the Condominium Project;
<br />assessments. assessment liens or subordination of such liens; the boundaric..~ of any unit or the exclusive easement rights
<br />appenaining thereto; or reserves for maintenance. repair and replacement ofthc common elements.
<br />G. Remedies. If Borro",,'cr breaches Borrower's covenants and agreements hereunder. including the coyen.nt to pay
<br />when due condominium assessments. then Lender may invoke any remedies provided under the SecurUy Instrumc-nt,
<br />including, but not limited to, those provided under Uniform Covenant 7,
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<br />IN WITNESS WHEREOF. Borrower has execuled this Condominium Rider.
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<br />:;'I'1l'ib,I47,6
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<br />Thomas E. Hennln9/1
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<br />.8ofrcwer
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<br />..~q(Qnr.4~q...~ '?' '.(7\.i.J.l..iLt.~.!.'q;rfl.;' .....
<br />(."nay 'J. "p--nri)iig' /" .90"0".'
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<br />CONDOMINIUM RlDER-I '" 4 r.,,,,,,-,'LBlfNMAilHlMC UNifORM INSTRUMENT
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