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<br /> . . '` . � ` ` � � . �PLA1�I�ED UNIT �DEi�ELOPIV�ENT RI�ER �-~� I04671� . � � �
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<br /> � ' . . � � : 'FNIS FLA�INED�1lVlt DE�►ELOrMEIYT ItlpEyt is fe�fde t11K 15tb �y p�' Auguet ,19 90,
<br /> ` � ` � ' � �nd is iecorpcxat�ed into andshalt be deaired to amasd ar�d suppkmGnt the Mor[aa6e:Dad of Trust or�Serurity Deod(che .
<br /> . "Security Instroment'7 of the s�smr date.�iven by tt�a undersi6neA tthe"Borrawrer")to sesurr Borrowee's Note t� ` .
<br /> �: � � : The Overlaad National Baat� of, Grand �sland _ � � `
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<br /> _ � • ott6e sime date and coYeriqr tlx PropettY descdbed if�tAe Secucity Instruaunt and locaied at: .
<br /> , , � , ' . , #28 St. James Place, Grand Island, NE 68803 ` .
<br /> � � , t�w.m �ea�+ss� ; .
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<br /> ;- ` ; � 'i'i�e Property iacleidrs.but is rot iimite6 to.a parcei diaad imprmad�rit�a dwefiing,toasthet with olha such p�naeis`�
<br /> ' ce�u�u c�oetnson uas and facilitia.as aescn'bed in � `
<br /> . . ,
<br /> ,. . � Continental.Gardens Homeovaers associaEion �
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<br /> ( (tLe"DacLration•'}.The Property is a put mf s pWmaed tdtit derefopment known u � Coat inental Gardens . . �.
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<br /> ' � . ' . (wm� o� vanna crne.pewo�nNne) � __`
<br /> � , - . � � (t�t"tUD"j:The Property aisa includes 8orro�rer's intsrtst in the bomemvners association or equivaknt entity.oMnutE or '.
<br /> ; m�nsaina the cammon aras as�d fac�7itia of the PUD(the'•Owriers Associat�bn")and�the usa.bsnetts�nd proceady of .
<br /> . � Horrv�ver'sintera[. ' .
<br /> . ' � � PUD Cov��:�'rs.in additio�to the covenants aad agroements made in tht Securisy Instrument,BorroMCr an3 .
<br /> . Lenderfurther covenant And agree u foAows: .
<br /> A. PUD tklt�tiaa. Borrrnver shalt ptrfortn all of Bmr��ers ob�igatiuns undtr the PUQ's Canstituent �
<br /> L?ocuments.The Constiluene Opcuments"ase the:(i)Decluation;�ii)�rtides af insorpara�on,trust instrument os any
<br /> i . aquivalent do¢ument which creates the Uwners Association;and(iii)any by-l�ws or other rules or regul�tions of the Owners �
<br /> ?_ A�saciatiai. 8orrower shaU promptly pay, when due. all dues and usessrt�rrtES imposed pursuant to the Constituent . �
<br /> � Dxumrnts. . ,
<br /> `" . 8�. Harard I�neee.Sa tang as Ihe(�wne�Associ2tion m�int�irts.wiih a genaally accepted isssur3acs catiyet,� , �. .
<br /> �"mut�r"or•'blAnicet"poticy insunng th�Prapeny which�.g satisfactory to L.endet and whseh provides iasurance cavaagz � � -
<br /> in theamounts.for the periods,artA against the haiards Lendu requires.�ncluding fire and ha�.ards mcluded within tl�e term
<br /> � ' . � "extendcd�covCrage;'then: '
<br /> f i) Lendtr waives the pr.�vision�n Uniform Coven�nt 2 fo�Ihe manth(y paymrnt to l.ender of one-twelfth of ' �
<br /> the yarly nremium instsfimentx for haurd insurance on the Pra�eny;and . • �
<br /> �ii) Borrawer's obligatian under Umfurm t'�venant 5 tn maintam hazard irtsurance coverage on tht Praperty is
<br /> deeme�sstisfied to the extent ihst the requ�red coverage is prov�ded hy the(?wners Associ�tion policy. -_
<br /> � , Borrower shal!give Lender ptompt notrce of any lapx�n required hazard insurance coverage provided by the master
<br /> � � or Wsnket paticy., .�.
<br /> ; . . In the event of�distnbu�ion of haiard rnsurance procceds in lieu of rtstoratcon or rep�it fallowing a tuss to tAe
<br /> ' Prc�perty or ta common areas xnd fac�lities of�he PLII),any proceeds payable to Barrawer are hereby ass�gned and shall bs
<br /> • paid ta l,.endet.Lender shall AppJy the proceeds to the sums serured by�he Securuy Instrumtnt,wi�h any tacess Raid ta
<br /> . Borrower. � �
<br /> � , C PrWk Lit6illty l�wr�ee.8urrar►a�ha}I take such actions a9 m�y be reasonable tv insure rha�the Owners�
<br /> ; Assoeiation maintpins�pubtic liability insurance pot�cy acreptable m form,amaunt,and extent af caveragr to Lender.
<br /> � D. Co�lewp�tiq�.The pr�cetds of�ny awerd or ctaim for damages,direct ar cansequeRt�al,paya�l�le t�Batrowet in
<br /> caincetion with Any condemnatcan c�r other tatcing of all or any part af the Propert�ar the coanman are�s and facitities oithe :�;
<br /> � PUD.ur Wr any conveys�nre m lieu of condemnatian,are hereby a�ti�gned and sha11 be pai0�o l.ettdrr.Such prorads shall
<br /> be�ppl'ted by Lendrt to the sums secured by the Srcurily In�trument ar prov�ded�n Unifc�tm t'ovenant 9
<br /> , E. l.e�ler•e PHor Ca�sent. dor�owcr shall aM. cxcept af'tcr aoUce tv I.ertder and w�th l.ertQrr'� prror wntten
<br /> � cansenl.e�thtr parhtion or subdiv�de the Pr�ptr�y ut constnt t�
<br /> � (�) the abando�ment ar term�nat�an of�he P1Jp,e�cept fnr abandunment,or terrmnaucrn reyuved Ay law in.Ihe.. __..__ _ ...
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<br /> : case of substantia!destruction by fire ar other casu�tty or in chr catit of a tak�ng by candemnat�on or emment doma�n; �
<br /> (�t) any emendment to any proviston nf Iht"Cpnctuuent[)auments"ii the prov�ston iy tor ehe eapres5 herttfit
<br /> o�Lender, . .
<br /> (u�) ttrminanon af prafetsional managerr:ent and��yumptu�n uf tielf•management uf the(1wne�r!.Aswc�alwn, '
<br /> . c�r � � � �
<br /> ' (�v) any acturo which w�utd ha�e the effect uf reneteri��g thr pul;l►c I�abit�t� in�urancr r��+eragr ma�n�amed l+y
<br /> � the(hvnrrs Assocranan ut�rceep��bte tv Lcsdcr
<br /> •> F. R�id. {f Iiorroc►�et dtK�tt��t pa} {'LrD duea an�f a�rctitin�ent� uhrn duc, then 1_rndr�� may pey them Any
<br /> � smounts disbursed bY Lender undt�tht�narag►�ph E'4C�a11 he�:ume add�ac,nal�rG� uf B��r�uurr�ecure� t�y Ihe Sccunty = _ =--
<br /> Instrumetlt.Unless[1c►ra�wer and l.ender�¢ree tuenher�rrms��f�aymen�,thesc amnunts�ha1t�cer�at�re4�irum thr daie of '
<br /> disburs�tnene at�he Note rete and shall be fiayabir,with interetic,u�!�m nr�t�Ce fr�im lxnder t�3 E9��rroacr reque�rmg pay ment
<br /> '- . � - � BY SlGtilt+ii;I�Eluvu.Ruttc�wet accepts aftd a�ttee�ti�thc tertny a�tti pl��u.ioui�untained in thi.Pi�lt�Jer , � '
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