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18: HEADINGS. GS. bleedings of the paragraphs of this contract are for convenience only 1 9141126.1.. <br />and do not define, <br />limit or construe the contents of such paragraphs. <br />19. ASSESSMENTS BY OWNERS' ASSOCIATION. If the Property is subject to a recorded declaration <br />providing for assessments to be levied against the Property by any owners' association, which <br />assessments may become a lien against the Property if not paid, then: <br />(a) Purchasers shall promptly pay, when due, all assessments imposed by the owners' association or <br />othergoverning body as required by the provisions of the declaration or other related documents; <br />and <br />dl) So long as the owners' association maintains a master or blanket policy ofinsurance against fire, <br />extended coverage perils and such other hazards and in such amounts acs are required by this <br />contract, then. <br />0) Purchasers' obligation in this contract to maintain hazard insurance coverage on the <br />Property is satisfied; and <br />(ii) The provisions in paragraph R of this contract reR:crding application of insurance proceeds <br />shall be superceded by the provisions of the declaration or other related documents: and <br />(iii) In the event of adistribution of insuranceproceeds in lieu ofrestoration orrepair 1i111owingan <br />insured casualty loss to the Property, any such proceeds payable to Purchasers are hereby <br />assigned anti shall be paid to Sviler for application W the sum svc•ured by this contract, with <br />the excess, if any, paid to Purchasers. <br />20. A131)ITIONAL TF,RMS: <br />SE LLM( <br />4_ <br />SYIV16 A. Holen <br />Marion B. Holen <br />State of Minnesota j <br />County of Sherburne <br />I'I�tCFIASI': .' <br />Doug W. Shernell <br />Joyce M. Shernell � <br />The fore Ding instrument was acknowledged before me this � day of �, y rj� <br />by van Holen and MAXiori <br />EgTAIIA, f H; HEAL I IH f ITIMH 'ril'I NCE H. Y PUBEr', MINNESOTA <br />RRURN'F COUNTY FIIfM :!lT LXA1TRRJI 'AHl'prnq OTHER OFFICIAL <br />State of Minnesota <br />County of Sherburne f <br />The foregoing instrument was acknowledged before me this ..—� day of <br />by Dou 1as W. ShernelI and Jo ce Sharnell, husband and wife <br />NCUARIAL.4 rAhlr OR SHAL 10R OTHER TITI.TIR RAN W. <br />it pop - F CONSTANCE H. E'SENSCHENM <br />NOTARY PUIlLI�•MINNESOTA <br />SHERMURNt COUNTY <br />My CCM61$lvn Eri: • ;:p, 11, 1996 <br />!!A'MNIRAiANT: 1lPCC yl►i <br />THIS iNFrHI'MY:NT WAR DRArrF:H UT -NAME ANTI AIIIIRRitiI <br />Sylvan A. Holen <br />ga y7 (: e vT,f4 lqve_ <br />&hive I %' - /L)/,/ -s aTq <br />SIC."'AlTur. or\'O'I'AHY I't'1 AV U!a GIVER OFFICIAL <br />Tax SRR,ments In' the teal properly described in this insOomenl should to sBal lo: <br />Douglas W. Shernell <br />200 106 Ave, Nw <br />Coon Itapida, Mn. 55h33 <br />