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�O�a0929i B. Property Insurance. So long as the Owners nssociatinn maintains, with a generally accepted insurance carrier, a"master" ar "biankeY' policy on the Condominium Project which is satisfactory to L.ender and which prnvides insurance coverage �n the �mnunts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any akher hazards, including, but rt�t lirnited to, earthquakes and floods, from which Lender requires insurance, then: (i) l.ender waives the provision in Sectinn 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligatian under Section 5 to maintain property insurar�ce coverage an the Property is deemed satisfied to the extent that the required coverage is provicied t�y the Owners Association policy. What Lender requires as a condition of this waiver can changc: during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required prnperty insurance coverage provided by the master ar blanket policy. In the event of a distributinn nf prap�rty insurance proceE�cas iri lieu of restnration or repair following a loss to the Praperty, whether to the unit or to common elements, any procseds payable to Borrower are hereby assigned and shall be paid to Lender tar �pplication to the sums secured by the Security Instrumant, whether or not then due, with the excess if any p�id to Borrnwer. C. Public Liability Insuranae. Borrower shall t��ke sucr; act�ons as may be reasonabla to insure thak the Owners Association maintains a public liar�ii:ty ^S��rr.3nce policy acceptable in form, amount, and extent of coverage ta Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in cannection with any cnndemnakion or ather taking of all or any part of the Property, whether of the unil ar of the common elements, or for any conveyance in lieu af condemnation, are hereby assigned and shall be paid to Lender. Such praceeds shall be applied by Lender tn the sums secured by the Security Instrument as provided in 5ection 11. E. Lender's Prior Gonsent. Bnrrnwer shall not, except after noiice to l.ender and with Lender's prior written consent, alther partitinn nr subdivide the Property or consent to: (i) the abandonment or termination of the Condominium Project, exce�t f�r abendonrnent or terminatian required by law in the case of substantial destruction by fire nr other casualty or in the case af a taking by condemnation or eminent domain; (ii) any amendment to any provision af thc Constituent Dncuments if the provision is fqr the express benefit of l.endsr; (iii) termination of prafessional rnanagement and assumption of self- management af the Owners Assaciation; or (iv) any action wr�icr� would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to Lender. MULTISTpTE CONDOMINIUM RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP �-BR (0810) Page 2 af4 Initi�3ls: �� Form 3140 1/01 bDS-009 III� IWI NIN INII IIMI IIN IVII IIN MIII III�I IIIN IIIII IIIII IIII IIII 0000cossssn�s