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PLANNED UNIT DEVELOPMENT RIDER t93_110887 THIS PLAj';NED UNIT DEVELOPMENT AIDER I~ made this 17th day of December , 1993 amI III lncO'pOll.lted I...to and shaH be deemed to amend and supplement the Mortgage, Deed of Trust Of Se<:urity Deed (the 'Security Instrument') 0 the S3me dete. given by the u"d~slgnlfd (the 'Borrower') to secure Borrower's Note to The Overland Netlo I Bank of G.-and Island A Unltfld State. CorporatIon __ (the 'Lender') of the same date and covering the Property desCfl)ed In the Security lostrum 421 Unden N b~aska 68801 e. [Pror-t)' MdresS] The Property In dudes , Wi Is not lImlted to, a parcel of land Improved with a dwellng. together with other !Such parcels and certai" common areas and facilities, as desCTibed In Restrictive Covenants and Conditions filed 9-25-91 as DocUDent 181-004889 (thE 'Declaration'). The PrnpGrty k a part of a planned unn development known as Eagle Lake Estates Subdivision [Name 01 Planned ;JnIt D..wlopmenl] (the 'PUD'). Tho Property also Includes Borrower's IntlY.est In the homeowners association or equivalent entity owning or managing the comM')n areas and facilities of the PUD (the 'Owners Association') and the uses, benefits tifld proceeds of Borrower'!, interest. .PUD COVENANTS. In addltlon to the coveru.nts snd agreements made In the Security Instrument. Borrower and LP.flder further covenant and agree as foHows: A. PUD OBliGATIONS. Borrower shan perform an of Borrower's obngatlons under the PUD's Constituent Documel'lts. The 'Constnuent Documents' are the: (Q Declaration; (8) articles of In corpontion , trust Instrumt'r'tl or any eq;Jlvalent document which creates the Owners Association; and (UO any by.ll.\ws or other rules or regulations (If the Owners Association, Borrower shaft promptly pay, when due, all dues and assessments Imposed pursuant to the Constituent Documents. B. HAZARD INSURANCE. SO long as the OWners Association maintains, wnh a generally accepted Insurance carrier, a 'master' or 'b1enket' policy Insuring the Property which Is salls factory to Lender and which provides Insurance coverage In the amounts, for the periods, and against the hazards Lender requires, including fire and hazards Included within the term 'extended coverage', then: (I) Lender waives the provision In Uniform Covenant 2 for the monthly payment to Lender of the yearly premium InstaUments for hazard Insurance on the Property; and (II) Borrower's obligation under Uniform Covenant 5 to maintain hazard Insurance coverage on the Property Is deemed satisfied to the extent that the required co\'erage Is provided by the OWners Association polley. Bo~ower shall give Lender prompt notice of ;:'Iy lapse In required hazard Insurance coverage provided by the master or blanket policy. In the evl!flt of a distribution of hazard Insurance proceeds In lieu of restorallon or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Ll!flder. lender shall apply the procoeds to the sums securad by the Security Instrument, with any excess paid to Borrower. C. PUBLIC LIABILITY INSURANCE. Borrower shall take such actions B5 may be reasonable to Insure that the Owners Association maintains a public liability Insurance policy acceptable In fonn, amount, and extent of coverage to Lender. D. CONDEMNATION. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property or the common areas and faellitles of the PUO. or fOl any conveyance In lieu of condemnation, arll hereby assigned and shan be paid to Lender. Such proceeds shan be appiled by Lender to the sums secured by the Securtty Instrument as provided In Uniform Covenant 10. E. LENDER'S PRIOR CONSENT. Borrower shall not, except after notice to Lender and with Lender's pn"r written consent, either partition N subdivide the Property or consent to: (Il the abandonment or termination of the PUO, except for abandonment or termination ,equlred by law In the case of substantial destruction by fire or other casualty or In the case of a taking by condemnation or eminent domain; (II) any amendment to any provision of the 'Constnuent Documents' If the provision Is for the expross beneftt of lender; (iii) termination of professional management and assumpllon of self'manl!lgement of the Owners Association; or (Iv) any action. which would have the effect of rendering the public liability Insurance coverr::ge maintained by the Owners Assoclallon unacceptable to Lender. F. REMEDIES. If Borrower dOllS not pay PUD dues and assessments when due, then lender may pay them. Any amounts disbursed by lender Uflder this paragraph F shall become addlllonal debt of Borrower secured by the Security Instrument. Unless BNrower and lender agree to other terms of payment. these amounts shan bear Interest fr\.lm the date of dlgbursement at the Note rate and shall be payable, with Interest, upon notice from Lender to Borrower requesllng payment. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained In this PUD Rider. The underslgl1l!d borrower(s) acknowlerlge(s) recelpl of . copy of thIS~. /) -r,:" /~. A<. If /'} . I ~.{(V2-:cL~' . / ~ '?'" '~SEAL) (06,,,,,,,., Ch~1 L erzoe {. F~-;~~;':-r~- ______~_..~_____._~_.~~..~._(SE^l) [)"..~_____~_. ~__~__~__~__._.___._._._._.___.(SEl\l.) IJrf~)Wi'f '~i.JL~b'T""d1:: P:)D nH)f::n - ~)lnr11~ F"fHr)i~y . rr".M;\fHH.MC UNlronM tN~dPUMu,r; F1crl.LMG ,'12/:dl f' Grin ;\, ~)O 'If](J '~,I " j ~!I'.