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80002818
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Last modified
1/13/2010 6:27:06 PM
Creation date
1/13/2010 6:26:32 PM
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DEEDS
Inst Number
80002818
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RIDER <br />A. Borrower shall keep the iugsrovements now existing or hereafter erected on <br />the property insured against loss by fire, hazards included within the term <br />"extended coverage" and such other hazards as Lender may require, in the <br />amount equal to the loan balance, or for not less than 100% cf the full <br />replacement value of the improvements, whichever is greater, as established <br />by a ceaipetent insurance appraiser. Ccx~prehensive general public liability <br />ins~ance will also be obtained, in a ca~any acceptable to the Lender, <br />for an amount not less than $300,000 combined single limit. Rental value <br />insurance equal to the rental value for asix-month period, as established <br />by a conpetent insurance appraiser, shall also be carried throughout the <br />term of the loan. <br />B. The Borrower shall furnish to the I.ender, within ninety days after the end <br />of each fiscal year, an annual statement, relative to the operation of the <br />property. The statement shall show all incase and expenses of the operation <br />of the property. <br />C. A waiver of Lender's option to accelerate shall be subject to: (1) the <br />credit of the purchaser or transferee being satisfactory to the lender; <br />(2) an assumption fee of cot less than 1% of the then outstanding principal <br />balance paid to Lender; (3) the interest rate adjusted to the cuzz~er:t market <br />rate at the date of sale or transfer, but to not less than the current <br />contract rate; (4) ass.~ti.on of full and unconditional liability of the <br />indebtedness by all pt¢'chasers or transferees of the property on a joint <br />and several basis; (5) any other requirements reasonably necessary to <br />protect Lender's interest in the property. Any agreanent regarding <br />Lazder's waiver of its option to accelerate must be in writing and reached <br />prior to the date of sale or transfer. <br />IyTT7Ai. <br />~~_,, <br />Ci ~,,. <br />
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