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<br />200607624
<br />
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />THISPLANNEDUN'ITDEVELOPMENTRlDERismadethis 22nd dayof Au!!ust .
<br />2006 ,and is incorporated into and shall bc deemed to amend and supplement the Mortgage, Deed ofTrust, or
<br />Security Deed (the "Security Instrument") of the samc date, given by the undersigned (the "Borrower") to secure
<br />Borrower's Note to Mortl!al!e Loans of America. LLC
<br />(the "Lender") of the same date and covering the Property described in the Security Instrument and located at:
<br />22 Lillian Lane Donlphan. NE 68832
<br />[Property Address]
<br />The Property includes, but Is not limited to, a parcel ofland Improved with a dwelling, together with other such
<br />parcels and certain cOIIUnon areas and facilities, as described in Conditions for the Plat of Amick Acres East
<br />Suhdivision as recorded November 2. 1992 as Inslrument#92109502. records of Hall County.
<br />Nphrs:ui:k:A
<br />
<br />(the "Declaration"). The Property is a part ofa planned unit development known as
<br />
<br />Amick Acres East Homeowners Association
<br />
<br />[Name of Planned Unit Development]
<br />(the "PUD"). The Property also inclUdes Borrower's interest in the homeowners association or equivalent entity
<br />owning or mana~g the common areas and facilities of the PUD (the "Owners Association") and the uses, benefits
<br />and proceeds ofBorrower's interest. .
<br />PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
<br />Borrower and Lender further covenant and agree as follows:
<br />A. PUD Ob1i2atlons. Borrower shall perfonn all of Borrower' s obligations under the PUD's
<br />Constituent Docmnents. The "Constituent Documents" are the (i) Declaration; (U) articles ofincgrporarion,
<br />trust instrument or any equivalent docmnent which creates the OWners Associauon; and (iii) any b)':'laws or
<br />other rules or regulations of the OWners Association. Borrower shall promptly pay, when due, aU dues and
<br />assessments Im310sed pursuant to the Conslltuent Docmnents.
<br />B. Property 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 satisfilctol}' to
<br />Lender and which provides insurance coverage in the amounts (incruding dedUCltole levels), fur the periOds,
<br />and against loss by fire, hazards included Within the term "extended coverage," and any other Iiazards,
<br />including, but not nmited to, earthguakes and floods, for which Lender requires insurance, then: (i) Lender
<br />waives the provision in Section 3 ror the Periodic Payment to Lender of the yearlypremimn instaIhDents for
<br />property insurance on the Property, and (ii) Borrower's obligation under Section 5 to maintain property
<br />msurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided
<br />by the Owners Assoclll11on p01lcy.
<br />What Lender requIres as a condition of this waiver can change during the term of the loan.
<br />. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage
<br />prOVided by the master or blanket policy.
<br />Iri the event of a distribution of property insurance proceeds in lieu of restoration Or repair
<br />following a loss to the Property, or to eommon areas and fucilities ofthe PUD, any proceeds payable to
<br />Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums
<br />secured by the Security lristrument, whether or not then due, with the excess, if anybpaid to Borrower.
<br />C. Public Liability Insurance. BOITower shall take such actions as may e reasonable to insure
<br />that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and
<br />extent of coverage to Lender.
<br />D. Condemnation. The procecds of any award or claim for damages, direct or conseguential,
<br />payable to Borrower in connection With lI!'Y.fOndemnation Or other taking of an or any part of the Prope!1)'
<br />or the common areas and facilities of the PUD, or for any conveyance in 1ieu of condenmation, are hereby
<br />assigned and shall be paid to Lender. Such [lroceeli- shall be applied by Lender to the sums secured by the
<br />Security Instrument as provided in Section J I.
<br />E. Lender's Prior Consent. Borrower shall not except after notice to. Lender and with
<br />Lender's prior written consent, either partition or subdivide the Property or conscotto: (i) the abandonment
<br />or terminstion of the PUD, excep,t for abandonment or termination reqwred by law in tIie case of substantial
<br />destruction by fire or other casualty or in the case of a taking b,Y condemnation or eminent domain; (ii) any
<br />amendinent to any' provision ofthc "Constituent Docmnents' if the provision is for the express benefit of
<br />Lender; (iii) termination of professional management aod assmnption of self. management of the Owners
<br />Association; or (iv) any action which wouldbave the effect of rendering the public liability insurance
<br />coverage maintamed by the OWners Association unac~eptable to Lender.
<br />F. Remedies. If Borrower does not pay Purr dues and assessments when due, then Lender may
<br />pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of
<br />Borrower secured by the Security Instrument. Unless Borrower and Lender aw.ee to other terms of
<br />pa}Tl)ent, these amounts shall bear interest from the date of disbursement at the Note rate and shall be
<br />payable, with interest, upon notice from Lender to Borrower requesting payment.
<br />
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD Rider.
<br />
<br />~~~~~
<br />
<br />(Seal)
<br />
<br />ct\r.~ VI...\~
<br />
<br />BOlTO,",,' Mary Muldoon
<br />
<br />(Seal)
<br />
<br />(Seal)
<br />
<br />Borrower
<br />
<br />(Seal)
<br />
<br />Borrower
<br />
<br />MULTISTATE pun RIDER-Sing!o family-FanGio M../Fre4dle Mae UNIFORM INSTRUMENT
<br />9340.CV (IVOS) 260074
<br />
<br />Form 3150 1101
<br />(page 1 of J pages)
<br />Creatlvt: Thinkin&=;, Inc.
<br />
<br />QOTO(OO04dc2l)
<br />
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