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20i�09653 Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements, any praceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument, whether or not then due, with the 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 farm, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim fior damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking af all or any part of the Property, whether af the unit or of the common elements, or fpr eny 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 provided in Section 11. E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consant, either partition ar subdivide the Property or consant to: (i) the abandonment or termination of the Condaminium Project, except for abandonment or termination 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 provision af the Constituent Documents if the provision is far the express benefit of Lender; (iii) termination of professional management and assumption of self-management of the Owners Association; or (iv) any actian 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 condominium dues and assessments 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. Unless Borrawer and Lender agree to other terms of payment, these amounts shall bear interest fram the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender ta Borrower requesting payment. MULTISTAT� CONDOMINIUM RIDER - Single Family - Fannie eddie Mac UNIFORM INSTRUMENT � VMP �-$R (0810) Page 2 of 3 Initial • rm 314Q 1/Q1 y , , , ;; :.