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2� 17�217� PL�NNED U�IT D�VEL�P�ENT RIE3ER THIS PLANNED UN�T DEVEL�PMENT R�DER�s made this �rd day of Apr��,�0�7 and is inco�po�a�ed into and shali b�deemed to amend and supplemen�the�Ilor��ag�, Deed o�Trust�r Securi�y D��d �the"Secur�ty Instrument"� of the sam�date,given by the und�rs�gn�d��he"8arraw�r"}ta secur�Ba�rower's Note t� Hame Federal Sa�ings and Loan Assn af Grand�sland,a Fede�al Sav�ngs Association �1��t'Lenderr+� �f the same dat�and�o�ering�h� Prop�rty de�cribed in�he Security Instrum�n�and located at: 20'�9 Ba�s Rd,Grand Is�and,NE f88�'t. The Praper�y includes, but is na�lim�t�d to,a parcel af�and impraved�vi�h a dvve�lin�, to��th�r�rvith fl�he�such�arc��s and c�rtain comman ar�as and fa�i[i�i�s,as d�scribed !Cl C�V�NANTS,C��r1DIT��N�AND R�STRICT#�NS �th�"D��a ratian"}. Th� P�operty is a p�rt�f a plann�d unit d�v�lopm�n�kno�rvn as Rainbow Lake �th�"PU�"}.The Prop��ty also inc�ud�s Borrower's�n�er�st in th�hom�a�rvners associa��n or�quivai�nt�nti�y o�vning o�manag�ng�h��ommon �r�as and fa��lit��s of ih� PU❑ �th�"D�nrne�s Assoc�atian"��nd�he us�s,b�n�fi�s and prvc�eds af Bvrr��re�'s in�eres�. Pt�D �t7�lENANTS. In additian �o �I�� co�enants an� agre�m�nts �nad� i�� h� Security lnstrumentr Bor�av�er and Lender�urther cavenan�and agree as f��{av�rs: A. PUD�t��a�ians.Borrawershal�pe�formal[of Bo€�roWer'sobliga�ians underthe �[JD's Constituen�Dacumen�s.Th�"Co�s�itu�nt D�cum�n�s"are the ��} D��laration; �ii}art�cl�s o�in��po�a�ian,�rust inst�umen�ar any equival�nt do�ument v�hich creat�s the��rvners A�sociat�on;and{iii}any by-la�rs❑r other rules or�egu�a�ions a�the��rne�s Ass�ciatian. Bar�ov�rer shall p�omptly pay, v�r�en due, a11 dues and assessments imposed pursuan�to the Cans��uent Documen�s. B, Pr�perty Insuranc�. So I�ng as ��e �Lrvners Association mainta�ns, v��th a generallyaccepted in�urancecarrier,a"master"o�"blanket"pol�cy�nsuring�he Prope�ty v�rh�ch is sat�sfactor to Lend�r an��ruh�ch provid�s insurance cov�rage�n tM�amounts inc�ud�n d�duc�ib�e�e�e�s for��e er�iods and a ainst��ss b f re hazards�ncluded t � �} � , g Y } with�n th�te�m"e�ended ca�erage,"and a�y other hazards, inclu�ingt �Ll��'10��mi�@[� �a,ear�hqUakes and floads,fa�usr�i�h Lend�r requires insurance,�hen:�i}Lenderwaives �h� provisian in �ection 3 for the P�riadic Payment�� L�ndcr ❑�th�yearfy premium instal[m�n�s for praper��r�nsuran�e❑n�he Prop�rty;and��i}B�r�ov�e�'s abligation under Sec�ion 5�o mai��ain prap�rty insurance co��rage on th�Prope�ty is d�em�d sa�Esfied �a the ex�ent tnat�he requir�d ca�erage is p�ovided �y the��rne�-s Asso�iation policy. lflfha�L�nde�requ�res as a candi�ian a��h�s waiver can change during the term of�he�aan. Borrower shall gi�e Len�er prompt natice af any lapse in requi�ed prop�r�� insuranc� caverage pro�ided by th� maste� ar hlank�t p�l�cy. In the e�ent❑f a distr�bution o�pra�er�y in�uranc�praceeds�n li�u of restorat�on a� r�pair f�lio�rin�a l�ss t�the Prflperty,or to cammon areas and�a�il�t�es o�the P�D,any proc��d�payabl�to Bar��r�r a��hereby assigned and shal[be paid to L�nder.Lender sha�l appiy�he pr�ceeds�o the sums secur�d by�he Security Instrument, whether or not th�n due,w�th th�eKc�ss, if�ny, paid�� Borrow�r. . C. Pub�ic Liab�lity lnsurance. Borrov�►�r shall �ake such acti�ns as may be r�asanabl��o�nsur�that the�ir�rners Assoe�at�on maint�ins a pub[ic��ability insuranc� policy acceptable in farm, amaunt, and�xt�nt of cov�rage to L�nd�r. MUL'TISTATE PlID RIDER--Single Family--�ar�n��Ma�l�'r�dd'€e�liac�I�IF�RM INSTR�MENT Fom� 3'15❑1101 Ellie Mae,�nc- Page'� of 2 F3�S�RDU ��5 F39 S�RtU tGLS} ti�`"�1� " 'y� . . J . !' '