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<br /> ;:,. 9�.1G3986
<br /> PLANNED IJNIT DEVELOPMENT RIDER
<br /> THIS PLANNED UNIT DEVELOPMENT RIDER 1S rilade T�11S...14tr1,day Of.A�,JY;11,,.1999..........,�
<br /> and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of
<br /> Trust or Security Deed (the "Security Instrument") of the same date, given by the undersigned (the
<br /> "Borrower") to secure Borrower's Note to�?K.OF,WOOD,RIVER.dba HERI'TAGE BANK
<br /> C�I�ID,ISL�AI�ID o, anized and existi under the.,laws,of,the,,state of
<br /> .. . �....n3.... .. ........ .??�3................ .. ............
<br /> .... .. ....... ... ...
<br /> Nebraska,..P:O.•..�OX,5138,..GRAND,ISLAl�ID,..NE...68802....................... (the "Lender")
<br /> ......... .....
<br /> of the same date and covering the Property described in the Security Instrument and located at:
<br /> 152 PC�IDEROSA,,,GR�1�ID, ISL�I�ID�,NE,,68803
<br /> .............. ............................................................ .
<br /> (Property Address]
<br /> The Property includes, but is not limited to, a parcel of land improved with a dwelling, together
<br /> with other such parcels and certain common areas and facilities, as described in .......................
<br /> LC)T EIGfiT..($,),..IN.E3IIJC�C.�..(1),.. POTIDEROSA.LAKE,ESTATES THIRD,
<br /> ............ .. .....................
<br /> S[.TBDIVISION,..IN.Tf�..CITY,OF.C�l�ID.ISLAI�ID,..Hl�I�I�..Cbi-?N'I'Y�..I`?EBRASKA..................
<br /> (the "Declaration"). The Property is a part of a planned unit development known as ..................
<br /> POTIDEROSA,LAI{E,ESTATES,,THIRD,,SUBDIVI,SION........................................................
<br /> [Name of Planned Unit Development]
<br /> (the "PUD"). The Property also includes Borrower's interest in the homeowners association or
<br /> equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners
<br /> Association") and the uses, benefits and proceeds of Borrower's interest.
<br /> PUD CovExarrrs. In addition to the covenants and agreements made in the Security
<br /> Instrument, Borrower and Lender further covenant and agree as follows:
<br /> A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the
<br /> PUD's Constituent Documents. The "Constituent Documents" are the: (i) Declaration; (ii) articles
<br /> of incorporation, trust instrument or any equivalent document which creates the Owners
<br /> Association; and (iii) any by-laws or other rules or regulations of the Owners Association.
<br /> Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the
<br /> Constituent Documents.
<br /> B. Hazard 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
<br /> satisfactory to Lender and which provides insurance coverage in the amounts, for the periods, and
<br /> against the hazards Lender requires, including fire and hazards included within the term "extended
<br /> coverage," then:
<br /> (i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to
<br /> Lender of the yearly premium installments for hazard insurance on the Property; and
<br /> (ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance
<br /> coverage on the Property is deemed satisfied to the extent that the required coverage is provided
<br /> by the Owners Association policy.
<br /> Borrower shall give Lender prompt notice of any lapse in required hazard insurance
<br /> coverage provided by the master or blanket policy.
<br /> In the event of a distribution of hazard 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
<br /> payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the
<br /> proceeds to the sums secured by the Security Instrument, with any excess paid to Borrower.
<br /> C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to
<br /> insure that the Owners Association maintains a public liability insurance policy acceptable in
<br /> form, amount, and extent of coverage to Lender.
<br /> PUD RIDER•Single Family•Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3 5�
<br /> Bankers Systems,Inc.,St.Cloud,MN (1-800397-23411 Form PUD-R 2/6/95 (pege 1 Of 2)
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