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• ~ ~O~D(~MIIVIUM RYDER
TNIS CONDOMINt~JM RIDER IS mad~ this .......~.~~1 dsy Of .........~$C~:I:............................ 19..$i~..,
and 'a inoorponted ir.to and sha1Z be ckemed to amend and suppkmrnt the Mortgage. Dead af Trutt or Security i)eed (the
"Srcurity Instrumcnt") of thesame date Riven by the u (the••Borrower") to sacure Borrower's Note w._
....................................................CitY,Federal S~vin~s and... Asiociatb~............................................. (the "Lender")
. . . .
of the same date and oovering the Property described in the Security Instrumrnt snd locatsd at:
........................~ssn..s_..~A...~t.zoaa..,~..'~..i•ra~aa... .~s~..............................................._...
The Pmperty includa a unit in. together with an undivided interat in the commort ekmenta of~ a oo~dominium projoct
known u:
Z!1@ Pxinaess
ti~lii++i 'o't 'C«+da++~.~ ~oi.ctl . . . . . . .
(the "Condominium Project"). If the owners asso~ciation or other tntity which acts for thc Condominium Project (the
"Uwners Association") holds title to property for the ba~efit or usc of its members or shueholdas, tlu Propeny also
includes Bocrower's interat in the Ownecs Association and the uses, prooaeds and bent8ts of BorroMrer'a interest.
CONDOMINIUM COVENANfS. ln addition to the oovawits and sgrear~a~ts made ia the Socurity lnstrumrnt.
Borrower and I,ender further oovenant and agrx as foUows:
A. Coedo~lnl~ Obligatioes. Borrower shall paform all of Borrowa's obligations under the Condominium
Project's Constituent Documenu. The "Cautituent Documenta" ue the: C) Declantion or any other document which
creates the Condominium Projoct; (ii) by-laws; (iii) ~rode of reguLticxis; and (iv) othe~ equivaknt docut!sents. Borrower shall
promptly pay. when due, aU dues and assasmrnts imposed pursuant to the Constituent Documents.
B. Hwrd I~raace. So long as the Owners Association maintains, with a gtnenily aocepted insurance carrier, a
"master" or "blanket" policy on the Condominium Project which is 3atisfactory to I.ender and wh...h provides insurance
ccv~nge in the amounts, for the periods. and against the hazards Lrnder roquires. including 6re and haurds included
within the term "eatendod coverage." then:
(i) Lender waives the provision in Uniform Covrnant 2 for the monthly paymrnt to Lender of one-twelfth of
the yearly premium insWllments for hazard insurance on the ProQerty; and
(ii) 8orrower's abligation under Uniform Covmant S to maintsin l~azard insurance ooverage on the PropMy
is damed satisfiod to the eatent that the required coverage is provided by ihe Owners Association poGcy.
Borrower shall give I.ender prompt notice of any lapse in roquired t~a:ard insurancx ooverage. ~
In the event of a distribution of hajard insurance ~~ooeeds in lieu of restorati~ or repair folbwing a!'oss to the
Property. whether to the.unit or to common elements. any proceeds payable to Borrowa ue hereby usigned and shall be
paid to Lender for application to t„e sums socurai by the Security lnstrument. Mith any excess paid to Borrower.
C. Pnblit LiabUity Inaunnce. Borcower shall take sucls actions as may be reasonable to insure that the Owners
Association maintains a public l:ability insarance poli=y acce~tib!e in form, sm~un*., ana txtr.tt Qfcoversge!o L..~e:~er.
D. Coedemnatfae. The procoods of any award or ciairrs for damag~, direct or consequencial, payabk to Borrower in
connection with any conder~nation or other taking of all or sny part of tFe Property, whether of the unit or of tht common
elemGnts, or for any con4, nce in lieu of condemnation, ue hereby assigned and shall be paid to l.ender. Such praceeds
shall be applicd by Lender to the sums socured by the Socuri~y Instrument as provided in i7niform Cove~ant 9.
E. Leader's Prior Coeaen~ Bonower shall not, e:ocpt aRer notice to Lender and a~ith Y.a?der's prior writtrn
consent, either putition or subdive~e the Property or coasa~t to:
(i) the abandonmrnt or termination of the C'.o~inium Project, exoept for abx~sdonment or termination
roquired by laa in the case of substantial destructian by fin or other casualty or in the cas- o!'a taking by condemrtation or
eminent domain;
(ii) any amrndment to any provision of the Constituent Documents if the provision is for the express benefit of
Lender, .
{iii) termination of professional management and auumption of self-management of the Owners Association;
or
~iv) any action which would have the effoct of rrndering the public liability insarancx covtrage maintained by
the Owners Association unacceptab~e to Lender.
f F. Remedles, If Bonower does not pay condominium dues and assessmtnu whea duq then Lend~r may pay them.
~ Any amounts disburssd by Lender under this paraEraph F shaU bec;ome additional debt of Borrower secural by the Sexurity
~ Inst~urnrnt. Unless Borrower and Lender agree to other terau of payment, these am~unts shall besr intertst from the date of
~ disbursement at the Nnte rate and shall be payable, with intercst, upon notice from i.ender to Borrower requesting paymrnt.
BY SIGNlNG BELOW, Berrower accepts and agrees to the terms and provisions containod in this Condomireium Rider. -
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MULTISTATE CONDOMINIUM ~ER-s~~ F~R„~~wni~u~c ur~:fosM ~~s1rtu~Nr Fo.R, aiso izia3
so,.~9so,-0.e. GENERAL
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