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20031193'7 PLANNED UNIT DEVELOPMENT RIDER Loan Number: 2310763 THIS PLANNED UNIT DEVELOPMENT RIDER is made this 28th day of AUGUST, 2003 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, 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 HERITAGE BANK, A NEBRASKA BANKING CORPORATION (the "Lender ") of the same date and covering the Property described in the Security Instrument and located at: 319 PONDEROSA DR, GRAND ISLAND, NEBRASKA 68803 [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: PONDEROSA [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 covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. PUD Obligations. Borrower shall 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 shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B. Hazard 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, 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 the Uniform Covenant 2 for the monthly payment to Lender of one - twelfth of the yearly premium installments 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 coverage is provided by the Owners Association policy. Borrower shall give Lender prompt notice of any lapse in required hazard insurance coverage provided by the master or blanket policy. 1 MULTISTATE PUD RIDER - Single Family - FNMA /FHLMC UNIFORM INSTRUMENT Document Systems, Inc. (800) 649 -1362 Page 1 of 2 Uspudl . rdr