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<br />200802604
<br />
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />
<br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 21st day of March ,
<br />2008 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or
<br />Security Deed (the "Security Instrument") of the same date, given by the undersigned (the "Borrower") to secure
<br />Borrower's Note to Pinnacle Bank
<br />(the "Lender") ofthe same date and covering the Property described in the Security Instrument and located at:
<br />54 Sonja Drive Doniphan, NE 68832
<br />[Property Address]
<br />The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such
<br />parcels and certain common areas and facilities, as described in Lot 54, Amick Acres East Subdivision, Hall
<br />County, Nebraska
<br />
<br />(the "Declaration"). The Property is a part ofa planned unit development known as
<br />Amick Acres Subs
<br />
<br />[Name of Planned Unit Development]
<br />(the "PUD"). The Property also includes Borrower's interest in the nomeowners association or equivalent entity
<br />owning or man'lging the common areas and facilities ofthe PUD (the "Owners Association") and the uses, benefits
<br />and proceeds of Borrower's interest.
<br />pun 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. pun Obligations. Borrower shall perform all of Borrower's obligations under the PUD's
<br />Constituent Documents. The "Constituent Documents" are the (i) Declaration; (il) articles of incorporation ,
<br />trust instrument or any equivalent document which creates the Owners AssociatIOn; and (iii) any by-laws or
<br />other rules o~ regulations ofthe Owners Asspciation. Borrower shall promptly pay, when due, all dues and
<br />assessments Imyosed pursuant to the Constituent Documents.
<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 satisfuctory to
<br />Lender and which provides insurance coverage in the amounts (inclUding deductible levels), fur the periods,
<br />and against loss by fire, hazards included wIthin the term "extended coverage," and any other liazards,
<br />including, but not limited to, earthguakes and floods, for which Lender requires insurance, then: (i) Lender
<br />waives the provision in Section 3 tor the Periodic Payment to Lender ofthe yearly premium installments for
<br />property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property
<br />Insurance coverage on the Property is deemed satisfied to the extent that the required coverage is providea
<br />by the Owners Association policy.
<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 pohcy.
<br />In the event of a distribution of property insurance proceeds in lieu of restoration or repair
<br />following a loss to the Property, or to common areas and facilities 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 Instrument, whether or not then due, with the excess, If anYbPaid to Borrower.
<br />C. Pu blic Liability Insurance. Borrower shall take such actions as may e reasonable to insure
<br />that the Qwners Association maintains a public liability insurance policy acceptable in form, amount, and
<br />extent of coverage to Lender.
<br />n. Condemnation. The proceeds of any award or claim for damages, direct or consequential,
<br />payable to Borrower in connection With any _condemnation or other taking of all or any part ofthe Property
<br />or the common areas and facilities of the PUD, or for any conveyance in lieu of condemnation , are hereby
<br />assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the sums secured by the
<br />Security Instrument as provided in Section II.
<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 consentto: (i) the abandonment
<br />or termination ofthe PUD, except for abandonment or termination reqUIred by law in ilie case o[substantial
<br />destruction by fire or other casualty or in the case ofa taking b,Y condemnation or eminent domain; (ii) any
<br />amendment to any provision ofthe "Constituent Documents' ifthe provision is for the express benefit of
<br />Lender; (iii) termination of professional management and assumption of self-management of the Owners
<br />AssociatIOn; or (iv) any action which would have the effect of rendering the puJjlic liability insurance
<br />coverage maintamed by the Owners Association unacceptable to Lender.
<br />F. Remedies. If Borrower does not pay PU D dues and assessments when due, then Lender may
<br />]:lay 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 agree to other terms of
<br />payt1).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 STGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD Rider.
<br />
<br />
<br />(Seal)
<br />
<br />Borrower
<br />
<br />(Seal)
<br />
<br />(Seal)
<br />
<br />Borrower
<br />
<br />(Seal)
<br />
<br />Borrower
<br />
<br />MULTlSTATE PlIO RIDER--Single Family--Fannie MaelFreddie Mae UNIFORM INSTRUMENT
<br />9840.CV (11/04) 2308053492
<br />
<br />Form 3150 1101
<br />(page I of I pages)
<br />GOTO(OO 18aSd2)
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