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<br />200900289
<br />
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />
<br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 8th day of January ,
<br />2009 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or
<br />Security Deed (the "Security Instrument") ofthe same date, given by the undersigned (the "Borrower") to secure
<br />Borrower's Note to Pinnacle Bank
<br />(the "Lender") of the same date and coverin~ 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 homeowners association or equivalent entity
<br />owning or managing the common areas and facilities of the PUD (the "Owners Association") and the uses, benefits
<br />and proceeds ofBorrower'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. PUD 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 or. regulations of the Owners Asspciation. Borrower shall promptly pay, when due, all dues and
<br />assessments Imposed 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: 0) Lender
<br />waives tfie provision in Section 3 for the Periodic Payment to Lender ofthe yearly premium installments fur
<br />property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property
<br />msurance coverage 01} tl}e Prol?~rty 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 ofthe 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 />In the event of a distribution of property insurance Jlroceeds 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 applx 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. Public Liability Insurance. Borrower 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 />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 ofan 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 11.
<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 consent to: (i) the abandonment
<br />or termination of the PUD, exce}Jt for abandonment or termination reqUired by law in the case of substantial
<br />destruction by fire or other casualty or in the case of a taking bi: condemnation or eminent domain; (ii) any
<br />amendment to any provision of the "Constituent Documents' if the 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 bave the effect of rendering the public liability insurance
<br />coverage maintamed by the Owners Association unacceptable to Lender.
<br />F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may
<br />}Jay 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 SIGNING 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 />Borrower
<br />
<br />MULTISTATE pun RlDER--Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT
<br />9840.CY (8/08) 2308058639
<br />
<br />Form 3150 1/01
<br />(page 1 of 1 pages)
<br />Creative Thinking, Inc.
<br />
<br />GOTO(00Ica71a)
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