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200214180
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />THIS PLANNED UNIT DEVELOPMEN "f BIDERnmadethis 4th day of December 1 2(1 and
<br />is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security
<br />Inshumenf-) of the same date, given by the undersigned (the "Borrower') to secure Borrower's Note to
<br />United Nebraska Bank
<br />(the "Lender ") of tiro same date and covering the Property described in the Security Instrument and located at:
<br />The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain
<br />common areas and facilities, as described in Lot Four (4), in Amended Block Six (6), Continental Gardens, an Addition to
<br />_.
<br />(the'Vec for afion'). Tire Property isapart of larned on Garde known as
<br />Continental Gardens
<br />[Name of Planned Unit Development]
<br />(the"PUD "). The Properly also includes Borrower's interest in the homeowners association or equivalent entity owning or managing
<br />the common areas and facilities ofthe PUD (the "Owners Association") and the uses, benefits and proceeds of Borrower's interest.
<br />PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender
<br />further covenant and agree as follows:
<br />A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the PUD's Constituent
<br />Documents. The "Constituent Documents" are the (H Declaration; (ii) articles of incorporation, trust instrument or any
<br />equivalent document which creates the Owners Association; and (iii) any by -laws mother rules or regulations ofthe Owners
<br />Association. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent
<br />Documents.
<br />B. Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance
<br />carrier, a "master" or "blanket' policy insuring the Property which is satisfact ryto Lender and which provides insurance
<br />coverage m the amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the
<br />term "extended coverage," and any other hazards, including, butnot limited to, earthquakes and floods, for which Lender
<br />requires insurance, then: (i) Lender waives the provision in Section 3 for the Periodic Payment to Lender of the year
<br />premium installments for property insurance on the Property; and (it) Borrower's obligation under Section 5 to maintain
<br />Property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the
<br />Owners Association policy.
<br />What Lender requires as a condition oflhis waiver can change during the term ofthe loan.
<br />Borrower shall give Lender prompt notice ofany lapse in required property insurance coverage provided by the
<br />master or blanket policy.
<br />In the event ofa distribution ofproperty insurance proceeds in her at restoration or repair following a loss to the
<br />Proper ty, ot'to common areas and facilities oftlre PUD, anyproceeds payable to Borrower are hereby assigned and shall be
<br />paid to Lender. Lender shall apply the proceeds to lire sums secured by tine Security Instrument, whether or not then due.
<br />w,m the e.meaorireuy paid io Be eo,, .
<br />C. Public Liability Insurance. Borrower shall take such actions as maybe reasonable to iusureflin theOwners
<br />Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender
<br />D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to
<br />Borrower in connection with any condemnation or other taking ofall or any part of the Property orthe emnmon areas and
<br />facilities ofthe PUD, or for anyconveyance in lieu ofcondentnation, are hereby assigned and shall be paid to Lender. Such
<br />proceeds shall be applied by Lender to the sums secured by the Security lnmamcnt as provided in Section I I .
<br />E. Lender's Prior Consent Borrower shallnot, except after notice to Lender and with Lender's prior written
<br />consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination ofthe PUD, except for
<br />abandonment or termination required by law in the case afs'ubstanfial destruction by fire or other casualty or in the case of to
<br />taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Documents" if the
<br />provision is for the express benefit of Lender; (iii) termination of professional management and assumption of sell-
<br />management of the Owners Association; or (iv) any action which would have the effect ofrendering the public liability
<br />insumnee coverage maintained by the Owners Association unacceptable to Lender.
<br />F. Remedies. If Borrower does not pay PU D dues and assessments w hen due, then Lender may pay them. Any
<br />amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security
<br />Instrument. Un less Borrower and Lender agree to other terms of payment, these amounts shall bear interest hour file date of
<br />disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment.
<br />BY SIGNING BLLOW, Borrower accepts and agrees to the terms and provisions contained in this PUD Rider.
<br />(Seal)
<br />(Seal)
<br />Sari)
<br />(SCaI)
<br />MULTISTATE VI D RIDER —Single Family— Fannie.MnclFn,ddic Mnc UNIFORM INSTRUMENT Fonn3150 1 /01 sirs,,luflpog,,,
<br />9940 _CV0 vI) 1620053
<br />GUf1)(11,11111-31
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