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202101812
<br />MIN: 101413800007588130
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 24th dayof February
<br />2021 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed ofTrust, or
<br />Security Deed (the "Security Instrument") of the same date, given by the undersigned (the `Borrower") to secure
<br />Borrower's Note to US Home Mortgage, Inc.
<br />(the "Lender") of the same date and covering the Property described in the Security Instrument and located at:
<br />3728 Frostfire Avenue 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
<br />parcels and certain common areas and facilities, as described in Lot Twenty (20), LARUE Subdivision in the
<br />City of Grand Island, Hall County, Nebraska
<br />(the "Declaration"). The Property is a part of a planned unit development known as
<br />LARUE
<br />[Name of Planned Unit Development]
<br />(the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity
<br />owning or mans mg the common areas and facilities ofthe PUD (the "Owners Association") and the uses, benefits
<br />and proceeds ofBorrower's interest.
<br />PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
<br />Borrower and Lender further covenant and agree as follows:
<br />A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's
<br />Constituent Documents. The The Documents" are the (i) Declaration; (u�articles ofincorporation,
<br />trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws or
<br />other rules or regulations ofthe Owners Association. Borrower shall promptly pay, when due, all dues and
<br />assessments imposed pursuant to the Constituent Documents.
<br />B. Property Insurance. So long as the Owners Association maintains with a generally
<br />accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to
<br />Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods,
<br />and against loss byfire, hazards included within the term "extended coverage," and any other hazards,
<br />including, but not lmited to,,earthquakes and floods, for which Lender requires insurance, then: (i) Lender
<br />waives the provision in Section 3 for the Periodic Payment to Lender ofthe yearly premium installments fir
<br />property insurance on the Property;, and (ii) Borrower's obligation under Section 5 to maintain property
<br />insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided
<br />by the Owners Association policy.
<br />What Lender requires as a condition of this waiver can change during the teen of the loan.
<br />Borrower shall give Lender prompt notice of any lapse in required property insurance coverage
<br />provided by the master or blanket policy.
<br />In the event of a distribution of property insurance proceeds in lieu of restoration or repair
<br />following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to
<br />Borrower are hereby, assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums
<br />secured by the Security 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 maybe reasonable to insure
<br />that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and
<br />extent of coverage to Lender.
<br />D. Condemnation. The proceeds of any award or claim for damages, direct or consequential,
<br />payable to Borrower in connection with any condemnation or other taking of all or any part ofthe Property
<br />or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the
<br />Security Instrument as provided in Section 11.
<br />E. Lender's Prior Consent. Borrower shall not except after notice to Lender and with
<br />Lender's prior written consent, either partition or subdivide the Y'roperty or consentto: (i) the abandonment
<br />or termination of the PUD, except for abandonment or termination required by law in the case ofsubstantial
<br />destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any
<br />amendment to any, provision of the "Constituent Documents' if the provision is for the express benefit of
<br />Lender; (iii) termination of professional management and assumption of self-management of the Owners
<br />Association; or (iv) any action which would have he effect of rendering the public liability insurance
<br />coverage maintained by the Owners Association unacceptable to Lender.
<br />F. Remedies. If BOT does not pay PUD dues and assessments when due, then Lender may
<br />pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of
<br />Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of
<br />payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be
<br />payable, with interest, upon notice from Lender to Borrower requesting payment.
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD Rider.
<br />Borrower
<br />(Seal)
<br />Borrower
<br />(Seal)
<br />Borrower
<br />(Seal)
<br />MULTISTATE PUD RIDER—Single Family --Fannie Mae/Freddie Mae UNIFORM INSTRUMENT
<br />9840.CV (8/08) 1702397636
<br />Form 3150 1/01
<br />Osage I of 1 pages)
<br />Creative Thinking, Inc.
<br />GOTO(000c615c)
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