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98102804
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Last modified
3/12/2012 11:31:23 AM
Creation date
10/19/2005 5:26:43 PM
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DEEDS
Inst Number
98102804
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i <br /> .= 98- s�z�so4 <br /> D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to <br /> Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the <br /> unit or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be <br /> paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as <br /> provided in Uniform Covenant 10. <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: <br /> (i) the abandonment or termination of the Condominium Project, except for abandonment or <br /> termination required by law in the case of substantial destruction by fire or other casualty or in the case of a <br /> taking by condemnation or eminent domain; <br /> (ii) any amendment to any provision of the Constituent Documents if the provision is for the express <br /> benefit of Lender; <br /> (iii) termination of professional management and assumption of self-management of the Owners <br /> Association; or <br /> (iv) any action which would have the effect of rendering the public liability insurance coverage <br /> maintained by the Owners Association unacceptable to Lender. <br /> F. Remedies. If Borrower does not pay condominium dues and assessments when due, then Lender may pay <br /> them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured <br /> by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall <br /> bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from <br /> Lender to Bonower requesting payment. <br /> BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this Condominium <br /> Rider. <br /> �• (Seal) <br /> -Borrower <br /> ` � 1 ��C <br /> (Seal) <br /> -Borcower <br /> (Seal) <br /> -Borrower <br /> (Seal) <br /> -Bonower <br /> Form 3140 9/90 <br /> I_ <br />
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