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201304822
<br /> MIN: 100952400047345531
<br /> PLANNED UNIT DEVELOPMENT RIDER
<br /> THIS PLANNED UNIT DEVELOPMENT RIDER is made this 10th day of June
<br /> 2013 ,and is incorporated into and shall be deemed to amend and supplement the Mortgage,Deed of Trust,or
<br /> Security Deed(the"Security Instrument")of the same date,given by the undersigned(the"Borrower")to secure
<br /> Borrower's Note to Pinnacle Bank
<br /> (the"Lender")of the same date and covering the Property described in the Security Instrument and located at:
<br /> 1512 Rainbow Rd Grand Island,NE 68801
<br /> [Property Address]
<br /> The Property includes,but is not limited to,a parcel of land improved with a dwelling,together with other such
<br /> parcels and certain common areas and facilities,as described in Lot Sixteen(16),Rainbow Lake Second
<br /> Subdivision,Hall County,Nebraska.
<br /> (the"Declaration"). The Property is a part of a planned unit development known as
<br /> Rainbow Lake
<br /> [Name of Planned Unit Development]
<br /> (the"PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity
<br /> owning or mariaing the common areas and facilities of the PUD(the"Owners Association")and the uses,benefits
<br /> and proceeds of Borrower's interest.
<br /> PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
<br /> Borrower and Lender further covenant and agree as follows:
<br /> A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's
<br /> Constituent Documents. The"Constituent Documents"are the(i)Declaration;(ii)articles ofincorporation,
<br /> trust instrument or any equivalent document which creates the Owners Association;and(iii)any by-laws or
<br /> other rules or regulations of the Owners Association. Borrower shall promptly pay,when due,all dues and
<br /> assessments imposed pursuant to the Constituent Documents.
<br /> B. Properly.Insurance. So long as the Owners Association maintains with a generally
<br /> accepted insurance earner, a"master"or"blanket"policy insuring the Property which is satisfactory to
<br /> Lender and which provides insurance coverage in the amounts(including deductible levels),for the periods,
<br /> and against loss by fire,hazards included within the term"extended coverage,"and any other hazards,
<br /> including,but not limited to,earthquakes and floods,for which Lender requires insurance,then:(i)Lender
<br /> waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for
<br /> property insurance on the Property;and(ii)Borrower's obligation under Section 5 to maintain property
<br /> insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided
<br /> by the Owners Association policy.
<br /> What Lender requires as a condition of this waiver can change during the term of the loan.
<br /> Borrower shall give Lender prompt notice of any lapse in required property insurance coverage
<br /> provided by the master or blanket policy.
<br /> In the event of a distribution of property insurance proceeds in lieu of restoration or repair
<br /> following a loss to the Property,or to common areas and facilities of the PUD,any proceeds payable to
<br /> Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums
<br /> secured by the Security Instrument,whether or not then due,with the excess,if any,paid to Borrower.
<br /> C. Public Liability Insurance. Borrower shall take such actions as maybe reasonable to insure
<br /> that the Owners Association maintains a public liability insurance policy acceptable in form,amount,and
<br /> extent of coverage to Lender.
<br /> D. Condemnation. The proceeds of any award or claim for damages,direct or consequential,
<br /> payable to Borrower in connection with any condemnation or other taking of an or any part of the Property
<br /> or the common areas and facilities of the PUD,or for any conveyance in lieu of condemnation,are hereby
<br /> assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the
<br /> Security Instrument as provided in Section 11.
<br /> E. Lender's Prior Consent. Borrower shall not except after notice to Lender and with
<br /> Lender's prior written consent,either partition or subdivide the Property or consent to:(i)the abandonment
<br /> or termination of the PUD,except for abandonment or termination required by law in the case ofsubstantial
<br /> destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain;(ii) any
<br /> amendment to any provision of the"Constituent Documents' if the provision is for the express benefit of
<br /> Lender;(iii) termination of professional management and assumption of self-management of the Owners
<br /> Association; or(iv) any action which would have the effect ofprendering the public liability insurance
<br /> coverage maintained by the Owners Association unacceptable to Lender.
<br /> F. Remedies. If Borrower does not pay PUD dues and assessments when due,then Lender may
<br /> pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of
<br /> Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of
<br /> payment,these amounts shall bear interest from the date of disbursement at the Note rate and shall be
<br /> payable,with interest,upon notice from Lender to Borrower requesting payment.
<br /> BY SIGNING BELOW,Borrower accepts and agrees to the terms and covenants contained in this PUD Rider.
<br /> � (Seal)
<br /> Borrower BradleVD Springer
<br /> (Seal)
<br /> Borrow Michelle J er
<br /> (Seal)
<br /> Borrower
<br /> (Seal)
<br /> Borrower
<br /> MULTISTATE PUD RIDER—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3150 1/01
<br /> 9840.CV(8108) 4300103129 (page 1 of 1 pages)
<br /> Creative Thinking,Inc.
<br /> OOTO(004a18bd)
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