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<br /> . ' • 0020027860 _
<br /> � -- �ONI�O1ViIIo1ILJM RII��R
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<br /> � " TH15 CONDOMINIUM R1DER ismadcthiti � gTH d�Y�f FEBRUARY • 1 997 '
<br /> *,;�'�`� nnd is inwrporated into and shall be dcemcd ta arnend and supplcment thc Mc�rtgugc, Deed of Trust or Sccuriry
<br /> =. ? Deed (the "Saurity Instrument") of ihe same date given by the undcrsigned (the "Borro�ver") to secure
<br /> earrowcr'sNo�cco The Equitable 6uilding end Loan Association of Orand Island,
<br /> �, Nebraska, A Federal Savings Bank _-
<br /> � (the"i.ender"� �,F:
<br /> . of the same date Andcovering the Property described in the Securiry Instrument and lucated at: ,Y'
<br /> � 251 8 50THMAN DR -
<br /> . ; GRAND I SLAND , NEBRASKA 68801 i-:'
<br /> „ _
<br /> � � [ProPersY A�i- :ti,) -�
<br /> . The Property includes a unit in, [ogether v�-ith an undivided interest in the common elements of, a condominium �;,_
<br /> T � ' project knownas: '��
<br />-=�"R:�',,�w` �(.:.._
<br /> �="-H' .� �Namc ofCondominium ProjcctJ
<br />_"i.,,,tir<,.' . I
<br /> _ (the "Condomin�um Project"). lf the owners assaciation or other entity which ncts for the Condominium Project �:::_
<br /> �;,:
<br /> � (the "Owners Assaiation") holds title to property for the benefit or use of its members or shareholders,the � _
<br /> y'�"'�� Property alsa includes Borrower's interest in tt�e Owners Associution and the uses. proceeds and benefits of
<br /> s �.
<br /> -�;;� � . Borrower's interest.
<br />�'`"'-'°`'`�� CONDOIVIIMUM COVENANTS. In addition io the covenants and agreements made in the Security _
<br /> "'��:�:::
<br />_-'_;�E��'� Instrument, Borcower and L.ender further cavenant und agree a�follows: __
<br /> -_�°=" A. i:antiominium vbIibaiium. So�r��%ae� sl�a!! Y..rfo:�n: e�! nf Rorrower's obli�ations under ihe
<br /> •,;�ti��s�.
<br /> ��;:s...,� Condominiurn Project's Constituent Documentti_ The 'Constituent Documents" �re the: (i) Declaration or any
<br /> ������_�M'�'-.b<=;� other document which creates the Condominium Project; (ii) by-laws; (iii) code of regulations; and (iv) other
<br /> •_°-����• equivalent dacuments. Bonower shall promptly pay, whcn due, all dues und assessments impose�l pursuant tothe
<br /> —_,:,�' Constituent Documents.
<br /> -- B.Hazartl Insurance. So long as the Owners Association muintnins,with a generally accepted insurence
<br /> carrier, a"rnuter'or "blanket" policy on the Condominium Project which is satisfactory to Lender and which
<br /> provides insurance coverage in the amounts,for the periods, :u�d against the hnzards I.ender requires, including
<br /> fire and hazards included within the term"ex�endedcoverage,"then:
<br /> � (i) LPnder waives the provision in Uniforn�Covenant 2 for the monthly payment to Lender of tt�e
<br /> T� —= yearly premium ins�allments for hazard insurance on the Property;and
<br /> — (ii) Borrower's obligation under Uniform Covenant 5 to matntain hazard insurance coverage on the
<br /> Property is deerned satisfied to the extent ihat the required coverage is provided by the Owners Assocfation
<br /> policy.
<br /> Boaower shall give Lender prompt notice of any lapse in required hazard insurance coverage.
<br /> In the event of a distribution of haaard insurance proceeds in lieu of restoratian or repair following a loss to
<br /> ---- tl�e Fcopc:r.y,w::ethe:to Ghe urut or to mmmnn elemems. any nroceeds pavable to Borrower are hereby assigned `
<br /> __- = and shnll be paid to Lender for application to the sums secured by the Securiry Instcument. with any excess paid io _
<br /> Bonowcr.
<br /> C.1'ubllc Llability In.surance. Borrower shall take such actions as may be reasonable to insure that tt�e
<br /> -__. Owners Assceiation maintains u public liability insurance policy acceptuble in form, amount, nnd extent a( _
<br /> -----� coverage to I,ender.
<br /> -.;e,�
<br />��'';,�1�4�� MULTISTATE CONDOMINIUM RIDER•Singlo Family-Fannle Mae/FroddU Mao UNIFORM INSTRURIENT Form 37409i90 =_
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