201202880 - Laserfiche WebLink

Browse

�0�202�� Loan Number: 107276 CONDOMINIUM RIDER THIS CONDOMINIUM RIDER is made this 9 th day of APRIL, 2 012 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to HERITAGE BANK, A NEBRASKA BANKING CORPORATION (the "Lender") of the same date and wvering the Property described in the Security Inst�vment and located at: 4021 SANDALWOOD DR. UNIT 26, GR.AND ISLAND, NEBR.ASKA 68803 [Property Address] The Property includes a unit in, together with an undivided interest in the common elements of, a condominium project known as: WESTWOOD PARK I CONDOMINIUMS [Name of Condominium Project] (the "Condominium Project"). If the owners association or other entity which acts for the Condominium Project (the "Owners Association") holds title to property for the benefit or use of its members or shazeholders, the Property also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of Bonower's interest. CONDOMINIUM COVENANr5. In addition to the covenants and agreements made in the 5ecurity Instrument, Bonower and Lender further covenant and agree as follows: A. Condominium Obligations. Bonower shall perform all of Borrower's obligarions under the Condominium Project's Constituent Documents. The "Constituent Documents" are the: (i) Declaration or any other document which creates the Condominium Project; (ii) by-laws; (iii) code of regulations; and (iv) other equivalent documents. Borrower sha11 promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B. Property Insurance. 50 long as the Owners Association maintains, with a generally accepted insurance carrier, a"master" or "blanket" policy on the Condominium Project which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes and floods, from which Lender requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. MULTISTATE CONDOMINIUM RIDER Fann(e Mae/Freddie Mac UNIFORM INSTRUMENT Form 31401/01 Page 1 of 3 � � v ` 1 {� DocMeglc � www. docmagic. com Us3140.rid.�l