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�oioos2ss which provides insurance coverage in the amounts (including deductible levels), for the periads, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not lirnited to, earthquakes and floads, for which L,ender requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly ptemium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain propez'ty insurance coverage on the Property is deemed satisfied to the extent that the tequired coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can ch�amge during the term of the loan. Bvrrower shall give L,ender prompt notice of any lapsa in required property insurance coverage provided by the rnaster or blanket policy. Tn the event of a distribution of property insurance proceeds in lieu of restoration or r�pair following a loss to the Property, or to common areas and faciliti�s of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security Jnstrument, whether or not then due, with tha excess, if any, paid to Borrower. C. Public Liability Insurance Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. 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 ar the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as pxovided in Section 11. E. Lender's Rrior Consent. 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 termination of the PUD, except for abandanment or terminaCion required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provisian af the "Constituent Documents" if the ptovision is for the express bene�t of Lender; (iii) termination of professional management and assumption of self-managennent of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. F. Remedies. If Borrower does not pay PUD dues and assessrnents when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. i7nless Borrower and Lender agree to other terms of paym�nt, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. MULTISTATE PUD RIDER--Single Family DocMagic �� aoo-sas-r3s2 Fannie Mae/Freddie Mac UNIFORM INSTRUMENT www.docmagic.com Form 3150 1/p1 Page 2 of 3 / Us3150.rid.wnl