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201506058
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Last modified
11/5/2015 9:11:33 PM
Creation date
9/2/2015 4:03:32 PM
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DEEDS
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201506058
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FHA Multistate PUD Rider - 10/95 <br />Ellie Mae, Inc. Page 1 of 2 <br />19,4 ( .t/ <br />201506058 <br />LOAN #: 000681 <br />MIN: 1001886- 0000000641 -0 <br />FHA Case No. <br />321 - 3417517- 703 -203B <br />PLANNED UNIT DEVELOPMENT RIDER <br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 1st day of <br />September, 2015, and is incorporated into and shall be deemed to amend and <br />supplement the Mortgage, Deed of Trust or Security Deed ( "Security Instrument ") of the <br />same date given by the undersigned ( "Borrower ") to secure Borrower's Note ( "Note ") to <br />Moria Development, Inc., an Arizona Corporation <br />( "Lender ") of the same date and covering the Property described in the Security <br />Instrument and located at: <br />4309 Prairie Clover Circle <br />Grand Island, NE 68803. <br />The Property Address is a part of a planned unit development ( "PUD ") known as <br />COPPER CREEK ESTATES <br />PUD COVENANTS. In addition to the covenants and agreements made in the <br />Security Instrument, Borrower and Lender further covenant and agree as follows: <br />A. So long as the Owners Association (or equivalent entity holding title to common <br />areas and facilities), acting as trustee for the homeowners, maintains, with a <br />generally accepted insurance carrier, a "master" or "blanket" policy insuring the <br />property located in the PUD, including all improvements now existing or hereafter <br />erected on the mortgaged premises, and such policy is satisfactory to Lender <br />and provides insurance coverage in the amounts, for the periods, and against <br />the hazards Lender requires, including fire and other hazards included within <br />the term "extended coverage," and loss by flood, to the extent required by the <br />Secretary, then: (i) Lender waives the provision in Paragraph 2 of this Secu- <br />rity Instrument for the monthly payment to Lender of one - twelfth of the yearly <br />premium installments for hazard insurance on the Property, and (ii) Borrower's <br />obligation under Paragraph 4 of this Security Instrument to maintain hazard <br />insurance coverage on the Property is deemed satisfied to the extent that the <br />required coverage is provided by the Owners Association policy. Borrower shall <br />give Lender prompt notice of any lapse in required hazard insurance coverage <br />and of any Toss occurring from a hazard. In the event of a distribution of hazard <br />insurance proceeds in lieu of restoration or repair following a loss to the Property <br />or to common areas and facilities of the PUD, any proceeds payable to Borrower <br />are hereby assigned and shall be paid to Lender for application to the sums <br />secured by this Security Instrument, with any excess paid to the entity legally <br />entitled thereto. <br />B. Borrower promises to pay all dues and assessments imposed pursuant to the <br />legal instruments creating and governing the PUD. <br />C. If Borrower does not pay PUD dues and assessments when due, then Lender <br />may pay them. Any amounts disbursed by Lender under this paragraph C shall <br />become additional debt of Borrower secured by the Security Instrument. Unless <br />Borrower and Lender agree to other terms of payment, these amounts shall bear <br />interest from the date of disbursement at the Note rate and shall be payable, with <br />interest, upon notice from Lender to Borrower requesting payment. <br />P8700PUU 0508 <br />P8700PUU <br />08/28/2015 08:00 AM PST <br />
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