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201108404 Section 3 tor the Periodic Payment to Lender of the yearly premium insta{{ments for property insurance on the Property, and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfiect ta 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 shalt give Lender prompt notice of any lapse in required property insurance coverage providect by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair foltowing a loss to the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned and shalF be paid to Lender for application to the sums secured by the Security Instrument, whettrer or not then due, with the excess, if any, paid to Borrower. C. Puf�c Liability tnsurance. Borrower shal{ take such actions as may be reasonable to insure that the Owners Association maintains a public tiability insurance poticy acceptable in form, amount, and extent af coverage to Lender. D. Conclemnation. The proceeds of any award or claim for damages, direct or consequentiat, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the unit or of the common elements, or for any conveyance irr lieu of condernnation, are hereby assigned and shatl be paid to Lender. Such proceeds shatl be applied by Lender to the sums secured by the Security Instrument as provided in Section 1 ? . E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subctivide the Property or consent ta: �i) the abandonment or termination of the Condominium Project, except for abandonment or termination re4uired by law in the case ot substantial destruction by fire or other casualty or in the case af a taking by condemnation or eminent domain; (ii) any amendment to any provision of the Constituent Documents if the provision is for•the express benefit of Lender; (iii? termination of professiona! management and assumption of seif-management 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 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 Borrower and Lender agree to other terms of payment, 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 CONDOMINIUM RIDER - Single Family INSTRUMENT VMP �-8R (0810) Page 2 of 3 11-000379 Fannie Mae/ e ie Mac UNIFORM Initials: Form 3140 1/01 ;� „ �, ; i� � `. �