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CONDOMINIUM RIDER
~I~IISCONDOMINIUM RIDER IS fi18dC thls. . . . . . . ~. L~. . . . . . . . .day of.~..:G!~:~!~ . ^ . . . . .,
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19. ..., and is incorporated into and shall be decmed to amcnd and supplemcnt a Mortgage, Deed of • t or Deed
to Secure Debt (herein "security instrumenC') dated of even date herewith. given by the unders ed (herein
"Bomower") to sccure Borrower's Note to..FIRST..~BD.ERAL. SAVIRGS..ANII .L1~AN..ASS~OCUTI.~N.
QF .~AK$. ~IO~T~.....(herein "Lender') and covering the Propcrt.y described in thc security instrument and
located at .....................................................................................
tP•ove.er ~ao~.:s~
The Property rnmprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as. . ~~. H~tRQUB. CONAAMINIUNi. G . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Name of Conoominium Projecl)
. . . . . . . . . . . . . . . . (herein "Condominium Project").
CONDOMINIUM COVENANTS. j0 8d(IIt10i1 to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agrec as follows:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owner$ Association
or other governing body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the
declaratiQn. by-laws, code of regulations or other constituent document of the Condotqinium Project.
B. Haz~rd I~urance. So long as the Owners Association maintains a"master' or "blanket" policy on the
Condominium Project which pmvides insurance coverage against fire, hazards included within the term "extended
coverage; ' and such other hazards as Lender may require, and in~ such amounts and for such periods as I.ender may
require, then:
(i) Lender waives the provision in Uniform Co~enant 2 for the monthly payment to I.ender of one-twelfth
of the premium installments for hazard insurance on the Property;
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds~ shall be
superseded by any provisions of the declaration, b~-laws, code of regulations or other constituent document of the
Condominium Project or of applicable law to the extent necessary to avoid a conflict between such provisions and
the provisions of Uniform Covenant S. Fer an~~ period of time during which such hazard insurance coverage is not
maintained, the immediately preceding sentence shall be deemed to bave no force or eRect. Borrower shall give
Lender prompt notice of any lapse in such hazard insurancc coverage.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to
the Property, whether to the unit or to cammon elements, any such proceeds payable to Borrower are hereby~ assigned
and sha!1 be paid to Lender for application to the sums securcd by the securitS instrument, with the excess, if any,
paid to Borrower.
C. Lende~s Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written
consent, partition or subdivide the Propert~~ or consent to:
(i) the abandonment or termination of the Condominium Prc~ect, except for abandonment or termination
provided by law in the~case of svbstantial destructian by fire or other casualty or in the case of a taking by condemnation
or eminent domain;
(ii) any material amcndment to the dcclaration, by-laws or code of regulations of the Owners'Association.
or equivalent constituent document of the Condominium Project, including, but not limited to, any amendment which
would change the percentage interests of the unit owners in the Condominium Project; or
(iii) the efiectuation of an~ decision by the O~aners Association to terminate professional management and
assume self-management of the Condominium Project.
D. Remedies. It Borrower bresches Borrower's covenaats and agreements bereunder, iacloding tbe covenant
to pay wbeo due condominium assessments, then Lender may invoke anv remedies provided nader t6e secnrity
iostroment, inclndiag. bnt not limited !o, tlwse provided under Unitorm Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
1981 fEB 13 ~` ~~~ ~7
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~ CONOOMINIUM RIOER-i +01 familr-6l75-FNMAIfNIMC UNIFORM INSTRUMENT
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Mary anchino
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-go~rower
~, '~348 ~A~E1777
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