99100611 - Laserfiche WebLink

Browse

k ?l.i4N�lED IJNIT DEVELOPMENT r�I�ER THlS PLANNED UNIT DEVELOPMENT RIDER is made this _ 13t11 day of Januarv , _1999 , and is incorpor&ted into and sha0 be deemed to amend and supp�ement the Mortgage, Deed of Trust or Securky Deed (the "Security Instrument") ot.the same date, ghren by the undersigned (the "Bortower') to secure Borrowers Note to 7he Ov�rland National �ank of Grand island A United States Corpnration (tne 'lender-� � ot th� sama date and covering the Property rlescnbed in the �a;urity Instrument and located at: �, � 2618 Chisholm Traii Circle Grand is9and NE 58801 1 �ProD�rty Addr�es� �� ' � The Property hcludes, but is not limfted to, a parcel of land fmproved with a dwailhg, together wfth other such pari?�Is and certah O—, common areas and taci�ities, as descr�bed in Subdivision Agreement for Regency By The Green Su�divisian � ` fi.led 1-3-78 as Doc. #7$-000022 and Agreement for Protective Covenants and Restrictions � filed 10-12-82 as Doc. #82-004398 and Amended Agreement filed 5-25-88 as Doc. 88-1a2733. � , �the "DeclaraCwn"}.'The Property is a part of a pianned unit devebpmsnt known as Re�ency By '!'he Green �Nam� o!Plann�E Unit D�vNoDmsnt) (the "PUD"). The Property also v�cludes Bortowers fnterest fn the homeowners assocfation or equlvalent entity owning or man2�in�i the common areas and facilities ot the PUD (the "Owners Assocfation") and 4he uses, benetfts and proceeds of Borrower's interest. PUD COVENANT�. in addition to the covenents and agreec�ents made in the Security instrument, Borrower end l.end0r further covanant nnd agree as foilows: A. PUD OBLIGATIONS. Borrower shall perform ell oi Borrower's obligations under the PUQ's Constituent Documents. The "Constituent Documents" are the: (i) Dec�aration; {if) artfcles ot incorporatbn, trust instrument or any equivelent docur�ent which creates the Owners Assoc�tion; and (iii) any by-laws or other rufes or regulations of the Owners Assocfatwn. Borrower shall promptly pay, when due, a8 dues and assessments imposed p��suant to lhe Constituent Documents. B. HAZARD INSURANCE. So long as the Owners Associetbn maintahs, wlth a generaly accepted insuranca aairier, a "master" or "bianket" policy insuring the Property which is setisfactory to Lender and wh�Ch provides insurance coverage h the amounts, for the periods, and against the hazards Lender requ'res, includng fire and hazards included within the term "extende� coverage", then: (i) Lender wefves the provision rc� Uniform Covenant 2 for the monthfy payment to Lender of the yearly premium installments !or hazard insurance on the Property; and (ii) 8orrowers abl'gation under Un'Aorm Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied to the eMent that the reouked coverage is provided by the Owners Association policy. B�rtawer shatl give Lender prompt notice of any lapse h required haztird insurance covercge provided by the master or blanket pol'ay. In the event of a distribution oi hazard insurance proceeds in lieu of restoration or repak tollowing a loss to the Property, or to common areas and facilities of the PUD, any proceeds payabie to BoROwer ara hereoy assigned and shai! be pald to Lender. Lender shali apvly the proceeds to the sums securad by the Securky Ins►rument, wkh any e�ccess paid to Borrower. C. PUBL�C LIABILITY INSURANCE. sorrower st,an take suct, act(ons as mey be roasonabie to insure thet the Owners Association maintarc�s a publ'�c liabilky insurance policy acceptable in fortn, amount, and extent of coverage to Lender. D. COlVDEMPIATION. The proceeds of any award or ciafm for damages, dtect or consequential, payable to Borrower !n connection wi�h any condemnation or othar tak�g of all or sny part of the Property or the common areas and faCilitfes of the PUD, or for any conveyance in lieu of condemnation, are hereb� assigned and shall be paid to Lender. SuCh proceeds shatl be applied by Lender to the sums secured by the Security InsWment as provided in Unifortn Covenant 10. E. LENDER'S PRIOR CONSENT. Borrower shail not, excep! aker notice toslender and wkh Lenders prior written consent, either partition or subdivide ihe Property or consent to: (i) the abandonment or termination ot the PUD, except for abandonment or tertnhation required by law fn the case ol substantial destruction by fire or other casuaky or h the case ot a tekhg by condemnatbn or eminent domain; (ii) any amendment to any provision of the "Constituent Documents" H the provisan is for the express benefit of Lender; (iii) tertnination of professional management and assumption of self-management o(the Owners Association; or , {iv) any action which wouid have the effect of rendering the public liabilfty insurance coverage maintained by the Owners Association unacceptable to lender. F. REM�EDIES. If Sorcower does not pau PUD dues and assessmen!s when due, then Lender may pay tham. Any amounts disbursed by Lender under this paragraph F shall become addRanal debt of Borrower secured by the Security Instrument. Unless Bortower and Lender agree to other terms of payment, these amounts shaii bear interest hom the date of disbursement at the Note rate and shali be payable,wRh interest, upon notice from Lender to Borrower requesting payment. ' BY SIGNING BELOW, Borrower accepts and agrees to the tertns and provisions contained in this PUD Rider. The undersigned boROwsr(s) acknowledge(s) receipt of a copy of th� insWment. l (SEAL) Borrow�r qrend R. B88C • � (SEA�)� � now�r 81 . B88C � � � (SEAL) 6or,ow.r iearrow�r (SEAL) MUlT18TATE PUD PoOEA•BMQI�famXy-FNMA/FMLMC UNIFOftM HV9TRUMENT Form J150 oJ90 FtO�Y,LM�3(9/G�) Y044p :' 1 ,i.r;..� . _ ... . ._.. ................. . . .. ...... .. . �Fi.,.