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201108679
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201108679
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Last modified
12/1/2011 3:04:35 PM
Creation date
11/21/2011 8:34:04 AM
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DEEDS
Inst Number
201108679
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201108679 <br />B onower shall give Lender prompt notice of any lapse in required property insurance coverage provided <br />by the master or blanket policy. <br />In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a <br />loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower <br />are hereby assigned and sha11 be paid to Lender. Lender shall apply the proceeds to the sums secured by <br />the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. <br />C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to insure that <br />the Owners Association maintains a public liability insurance policy acceptable in form, amaunt, and <br />extent of coverage to Lender. <br />D. Condemnation. The proceeds of any awatd or claim for da,mages, direct or consequential, payable <br />to Borrower in connection with any condemnation or other taking of all or any part of the Property or <br />the common area.s and fa.cilities of the PUD, or for any conveyance in lieu of condemnation, are hereby <br />assigned a.nd shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by <br />the Security Instrument as provided in Section 11. <br />E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior <br />written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination <br />of the PUD, except for abandonment or termination required by law in the case of substantial destruction <br />by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment <br />to any provision of the "Constituent Documents" if the provision is for the express benefit of Lender; <br />(ui) termination of professional management and assumption of self-management of the Owners <br />Association; or (iv) any action which would have the effect of rendering the puhlic liability insurance <br />coverage maintained by the Owners Association unacceptable to Lender. <br />F. Remedies. If Bonower does not pay PUD dues and assessments when due, then Lender may pay <br />them. Any amounts disbursed by Lender under this pazagraph F shall become additiona.l debt of Borrower <br />secured by the Security Instrument Unless Borrower and Lender agree to other terms of payment, these <br />amounts shall bear interest from the date of disbursement at the Note rate and sha11 be payable, with <br />interest, upon notice from Lender to Borrower requesting payment <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD <br />Rider. <br />Borrower <br />/ •� ` <br />z J /.+' � /.JL �_ �iy lr , . <br />,���. -� � ,, � � � . <br />HCFG-00008 <br />MULTISTATE PUD RIDER- Sfllgle FeRlily- Fetttlie MBelF�6ddle MBC UfdIFORM INSTRUMENT <br />VMP� <br />Wolteis Kluwer Financial Servicea 201111094.0.0.0.4002-J20110fi25Y <br />Form 3750 1/01 <br />Page 2 oT3 <br />`1 1 <br />
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