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PLANNED UNIT DEVELOPMENT RIDER
<br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 12th day of January, 2017, and is incorporated into
<br />and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security
<br />Instrument ") of the same date, given by the undersigned (the "Borrower ") to secure Borrower's Note to CORNERSTONE
<br />BANK (the "Lender ") of the same date and covering the Property described in the Security Instrument and located at:
<br />4238 Switchgrass Cir, Grand Island, NE 68803
<br />[Property Address]
<br />The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels
<br />and certain common areas and facilities, as described in Copper Creek Estates filed August 1, 2006 in the Register of
<br />Deeds Office as Doc. No. 20606800 (the "Declaration "). The property is a part of a planned unit development known
<br />as:
<br />Copper Creek Estates Subdivision
<br />(the "PUD "). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning
<br />or managing the common areas and facilities of the PUD (the "Owners Association ") and the uses, benefits and
<br />proceeds of Borrower's interest.
<br />201700308
<br />PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower
<br />and Lender further covenant and agree as follows:
<br />A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent
<br />Documents. The "Constituent Documents" are the: (i) Declaration; (ii) articles of incorporation, trust instrument
<br />or any equivalent document which creates the Owners Association; and (iii) any by -laws or other rules or
<br />regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments imposed
<br />pursuant to the Constituent Documents.
<br />B. Property Insurance. So long as the Owners Association maintains, with a generally accepted
<br />insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which
<br />provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire,
<br />hazards included within the term "extended coverage," and any other hazards, including, but not limited to,
<br />earthquakes and floods, for which Lender requires insurance, then: (i) Lender waives the provision in Section 3 for
<br />the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii)
<br />Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied
<br />to the extent that the required coverage is provided 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 provided
<br />by the master or blanket policy.
<br />In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a
<br />loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby
<br />assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security
<br />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 may be reasonable to insure that the
<br />Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of
<br />coverage to Lender.
<br />D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable
<br />to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common
<br />areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be
<br />paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as
<br />provided in Section 11.
<br />E. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior
<br />written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the
<br />PUD, except for abandonment or termination required by law in the case of substantial destruction by fire or other
<br />casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the
<br />"Constituent Documents" if the provision is for the express benefit of Lender; (iii) termination of professional
<br />management and assumption of self- management of the Owners Association; or (iv) any action which would have
<br />the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable
<br />to Lender.
<br />F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay
<br />them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured
<br />by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall
<br />bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from
<br />Lender to Borrower requesting payment.
<br />MULTISTATE PUD RIDER -- Single Family — Fannie Mae /Freddie Mac UNIFORM INSTRUMENT
<br />Form 3150 1/01 (Page 1 of 2)
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