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CONDOMINIUM RIDER . ��~ 1Cj25'74 THIS CONDOMINIUM RIDER is made this 201h day of March , 1998 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Tnist or Security Deed (the "Securfty Instrument") oi the same date given by the undersigned (the "eorrower") to secure BoROwer's Note to UNITED NEBRASKA BANK (the "Lender") of the same date and cov�hg the Property descri�ed fn the Securiry Instniment and bcated et: 2813 LAKEWOOD CIRCLE GRAND ISLAND NEBRASKA 68801 �Prop�rty Addn��j The Property includes a unk in, together with an undivided hterest h the common elements of, a condominium project known as: �Nam� of Condominium ProJsct] (the "Condominium Project"). If the owners association or other entRy which acts for the Condominfum Project (the "Owners Association") holds title to property for the benefit or use of fts members or shareholders, the Property also includes Borrowers interest in the Owners Association and the uses, proceeds and beneffts ot Borrower's Interest. CONDOMINIUM COVENANTS. In addkion to the covenants and agreements made in the Securky Instrument, BoROwer and Lender (urther covenant and agree as foltows: A. CONDOMINIUM OBLIGATIONS. eorrower shail pertorm ell of eonower's obligations under the Condomk�lum Project's Constituent Documents. The "Constkuent Documents" are the: (I) Declaration or any other document wh�h creates the Condominium Project; (ii) by-laws; (fii) code oi regulations; and (iv) other equlvelent documents. Borrower shall promptly pay, when due, ali dues and assessments imposed pursuant to the Constituent Documents. B. HAZARD INSURANCE. So long as the Owners Association maintalns, wkh a generally eccepted insurance cerrier, a "master" or "blanket" policy on the Condominium Project which is satisfactory to Lender end which provides insurance coverage in the amounts, for the periods, and against the hazards Lender requires, hcluding fire and hazards included wRhin the term "extended coverage", then: (i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of the yearly premium installments for hezard insurance on the Property; and (ii) Borrowers ob8gation under UnNorm Covenant 5 to maintak� hazard insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provfded by the Owners Association policy. Borrower shall give Lender prompt notice of any lapse in required hazard hsurance coverage. In the event of a distribution of hazard �surance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements, any proceeds payabie to Borrower ere hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument, with any excess paid to Borrower. C. PUBLIC LIABILITY INSURANCE. Bonower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liabilky insurance policy acceptabie in form, amount, and extent of coverage to Lender. D. CONDEMNATION. The proceeds of any award or claim for damages, direct or consequential, payable to BoROwer in connection with any condemnation or o�her taking of all or any part of the Property, whether of the unk or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proceeds shall be apptied by Lender to the sums secured by the Security Instrument as p�ovided in Unfform Covenant 10. E. LENDER'S PRIOR CONSENT. eorrower shall not, except aiter notice to lender and wkh Lender's prior wrkten consant, ekher partition or subdivide the Property or consent to: (i) the abandonment or termination of the Condom&�ium 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 of the Constituent Documents ff the provision is for the express benefit of Lender; (iii) termination of professionai management and assumption o} seH-management of the Owners Association; or (iv) any action which wouid have the effect of rendering the public Iiabilky 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 addkional 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 ta Borrower requesting payment. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained h this Condomk�ium Rider. � (Seal) Borrowsr ANN H RN IKE Borrowsr (.SBfl�� Borrowsr �� Borrowsr �� MULTI3TATE CONDOMINIUM RIDER-Sinple Famlly-FNMA/FHLMC UNiFORM INSTRUMENT Form 3140 9/BO F1088.LMO(1/98) anu