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202400831
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2/27/2024 3:37:18 PM
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2/27/2024 3:37:16 PM
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202400831
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202.400831 <br />LOAN #: 002398886 <br />MIN: 1005000-0002398886-1 <br />FHA Case No. <br />321-3999425-703 <br />PLANNED UNIT DEVELOPMENT RIDER <br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 26th day of <br />February, 2024, and is incorporated into and shall be deemed to amend and <br />supplement the Mortgage, Deed of Trust or Security Deed ("Security Instrument") of the <br />same date given by the undersigned ("Borrower") to secure Borrower's Note ("Note") to <br />First National Bank of Omaha, a National Banking Association <br />("Lender") of the same date and covering the Property described in the Security Instru- <br />ment and located at: <br />1709 Peach St <br />Grand Island, NE 68801. <br />The Property Address is a part of a planned unit development ("PUD") known as <br />The Orchard Subdivision <br />PUD COVENANTS. In addition to the covenants and agreements made in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows: <br />A. So long as the Owners Association (or equivalent entity holding title to common <br />areas and facilities), acting as trustee for the homeowners, maintains, with a gener- <br />ally accepted insurance carrier, a "master" or "blanket' policy insuring the property <br />located in the PUD, including all improvements now existing or hereafter erected <br />on the mortgaged premises, and such policy is satisfactory to Lender and provides <br />insurance coverage in the amounts, for the periods, and against the hazards Lender <br />requires, including fire and other hazards included within the term "extended cover- <br />age," and loss by flood, to the extent required by the Secretary, then: <br />(i) Lender waives the provision in Paragraph 3 of this Security Instrument for the <br />monthly payment to Lender of one -twelfth of the yearly premium installments for <br />hazard insurance on the Property, and <br />(ii) Borrower's obligation under Paragraph 5 of this Security Instrument to maintain <br />hazard insurance coverage on the Property is deemed satisfied to the extent <br />that the required coverage is provided by the Owners Association policy. <br />Borrower shall give Lender prompt notice of any lapse in required hazard insurance <br />coverage and of any loss occurring from a hazard. In the event of a distribution of <br />hazard insurance proceeds in lieu of restoration or repair following a Toss to the <br />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 for application to the <br />sums secured by this Security Instrument, with any excess paid to the entity legally <br />entitled thereto. <br />FHA Multistate PUD Rider - Publication September 2014 <br />Modified for FHA 1/2023 (rev. 12/23) <br />ICE Mortgage Technology, Inc. <br />Page 1 of 2 FHAP$700PUU (CLS) <br />
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