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�oioo9io� including fire and other hazards included within the t�rm "extend�d cc�vcra��," and loss by flood, to the extent required by the Secretary, then: (i) Lender waives the provision in this Security Tnstrument for the monthly payment to L.ender af ane-twelfth of the yearly premium installments for hazard insurance on thc Property, and (ii) Borrower's obligatian under the Security Instrument to maintain hazard insurance coverage on the Praperty is deemed satisfi�d to the extent that the required coverage is pravided by the Own�rs Association palicy. Borrower shall give Lender prompt notice af any lapse in rcquired hazard insurance coverage and of any loss occurring from a hazard. In tlxe ev�nt c�f a diskribution of hazard insurance proceeds in lieu of restoration ar repair f��llt�wing a loss to the Property, whether to the condominium unit or to the common elernents, any proc;e�ds payable to 13orr�wer are hereby assigned and shall be paid to L�nder for applicatipn ta the sums secured by this Security Instrurnent, with any excess paid to the entity legally entitled thereto. Bonrawer promises ta pay all dues and assessments imposed pursuant to the legal instruments creating and governing the Condominium Praject. If Borrowr:r does not pay condominium dues and assessments when due, then Lender may pay them. Any amounts disburscd by L�nd�r under this Paragraph shall become additianal d�bt of Borrower secured by the Security Instrument. Unless Borrawer and Lender agree to athsr terms of �ayment, these amounts shall bear interest frorn the date of disbnrs�mcnk at the Note rate and shall be payabl�, with interest, upon notice frpni I.,ender to Borrower requesting payment. �� FHA Gondominium Rider VMP586U (09p9f .p0 VMP� Page 2 af 3 Walters Kluwer Financial 5ervices � 2008, 2009