202303851 - Laserfiche WebLink

Browse

202303851 Planned Unit Development Rider THIS PLANNED UNIT DEVELOPMENT RIDER is made this 28th day of July, 2023, and is incorporated into and amends and supplements the Mortgage, Mortgage Deed, Deed of Trust, or Security Deed (the "Security Instrument ") of the same date, given by the undersigned (the "Borrower") to secure Borrower's Note to U.S. Bank National Association (the "Lender ") of the same date and covering the Property described in the Security Instrument and located at: 1506 Rainbow Rd, Grand Island, NE 68801 [Property Address] The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as described in Covenants, Conditions and Restrictions (the "Declaration'). The Property is a part of a planned unit development known as [Name of Planned Unit Development] (the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners Association ") and the uses, benefits, and proceeds of Borrower's interest. PUD COVENANTS. In addition to the representations, warranties, covenants, and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: (A) PUD Obligations. Borrower will perform all of Borrower's obligations under the PUD's Constituent Documents. The "Constituent Documents" are the: (i) Declaration; (ii) articles of incorporation, trust instrument, or any equivalent document which creates the Owners Association; and (iii) any by-laws or other rules or regulations of the Owners Association. Borrower will promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. (B) Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to, earthquakes, winds, and floods, for which Lender requires insurance, then (i) Lender waives the provision in Section 3 for the portion of the Periodic Payment made to Lender consisting of the yearly premium installments for property insurance on the Property, and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. 2490326975 MULTISTATE PLANNED UNIT DEVELOPMENT RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Wolters Kluwer Financial Services, Inc. Form 3150 07/2021 03/2022 2023072623.3.0.5071-J20230329Y Page 1 of 3 1 NI 1. 4}. 1