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'.. <br />81-uc-3046 <br />CONDOMINIUM RIBSR <br />1. The Borrower shall promptly deliver to Lender, sbd <br />iri the case of a Deed of Trust, both to Lender and. Trustee, <br />a true and correct copy of each and every notice of default <br />received by Borrower with respect to say obligation of ttse <br />Harrower under the provisions of the Condominium Property Act <br />of the State of Nebraska ("Condominium Property Act"), the <br />master deed creating the condominium property regime of <br />which the above Property is a part ("Master Deed"), the rules <br />and regulatiana ("Rules and Regulations") and the bylaws. <br />('Bylaws") adopted by the association. <br />2. The Borrower shall not, excegt with the prior written <br />consent of the Lender: <br />a. institute any action or proceeding for <br />partition of the property of which the Property is <br />a gar t; <br />b, vote for oz consent to any modification of, <br />amendment to or relaxation in the enforcement of any <br />provision of the Master Deed, Rules and Regulations <br />or Hyiaws; and <br />c_ in fire event of damage to or destruction of <br />the property of which tnc Property is a part, vote in <br />opposition to a motion to repair, restore or rebuild. <br />3, Zn each and every case in which, under the provisions <br />of the Master Deed, Rules and Regulations, Bylaws or Condominium <br />Prcpezty Act, the unanimous consent or the unanimous vote of <br />the owners of units is required, or the number of votes required <br />is in excess of a simple majority, the Borrower sha12 not so <br />vote or give such consent without, in each and every case, the <br />prior written consent of the Lender_ <br />Q. Zt shall constitute a default under this Mortgage or <br />Deed of Trust entitling the Lender, at its option, to accelerate <br />the entire unpaid balance of the indebtedness secured hereby if <br />the board of directors or other governing body of the associa- <br />tion fails or refuses to maintain in full force and effect a <br />policy or policies of fire insurance with extended coverage, <br />vandalism and malicious mischief endorsements, for the full <br />insurable replacement value of the common elements, and having <br />firm ar contingent or conditional endorsements covering xhe <br />replacement value of the units to provide for restoration <br />thereof to tenantable condition in the event of damage. Such <br />pokey or policies shall be written in the name of, and the <br />pxaceeds thereof shall be payable to, the board of directors <br />or other governing body, for the benefit of each of the unit <br />owners in the percentages established in the Master [seed and <br />to t3te respective mortgagees, trustees or beneficiaries of <br />the unit owners as their interests may appear. Such policy <br />or policies shall provide far separate protection for each f <br />unit and ita attached, built-in ar installed fixtures and <br />