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<br />201003551
<br />MIN: 100416700010115625
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 27th day of _ May ,
<br />2010 ,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 CharterWest National Bank
<br />(the "Lender") of the same date and coverin;~ the Property described in the Security Instrument and located at:
<br />34 Chantilly St Crand Island , NE 68803
<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
<br />(the "Declaration"). The Property is a part of a planned unit development known as
<br />Continental Gardens
<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~~ggmg the common areas and facilities ofthe 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 Obli ntions. Borrower shall perform all ofBorrawer's obli ations under the PUD's
<br />Constituent Documents. ~he "Constituent Documents" are the (i) Declaration; (ii}' articles ofincorporation,
<br />trust instrument or any equivalent document which creates the Owners Association; and (iii) any by-laws ar
<br />other rules or regulations of the Owners Association. Borrower shall promptly pay, when ue, 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 whic~i is satisfactory to
<br />Lender and which provides insurance coverage in the amounts (including deductible levels), for the periods,
<br />and against loss by fire, hazards included within the term "extended coverage," and any other hazards,
<br />including, but not limited to, earthquakes and floods, for which Lender requires insurance, then: (i) Lender
<br />waives the provision in Section 3 t"or the Periodic Payment to.Lender ofthe yearly premium installlments 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 provided
<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 policy.
<br />In the event of a distribution of property insurance proceeds in lieu of restoration or reppair
<br />following a Toss tp the Property, or to common areas and facilities of the PUD, any proceeds pa able to
<br />Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums
<br />secured byy the Security Instrument, whether or not then due, with the excess, if any paid to Borrower.
<br />C. Public Liability Insurance. Borrower shall take such actions as ma ~e reasonable to insure
<br />that the Owners Association maintains a public liability insurance policy acceptable inform, amount, and
<br />extent of coverage to Lender.
<br />D. Condemnation. The proceeds of any award or claim for damagges, direct or consequential,
<br />payable to Borrower in connection with any condemnation or other taking ofall 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 ar consent to: (i) the abandonment
<br />or termination ofthe PUD, except for abandonment or termination required by law in the case ofsubstantial
<br />destruction by fire or other casualty or m the case ofa takin b~,condemnatian or eminent domain; (ii) any
<br />amendment to any provision of the `Constituent Documen~s if the provision is for the express benefit of
<br />Lender; (iii) termination ofprofessional mana ement and assumption ofself--mana ement of the Owners
<br />Association; or (iv) any action which would~ave the effect of rendering the pubic liability insurance
<br />coverage maintained by the Owners Association unacceptable to Lender.
<br />F. Remedies. IfBorrawer does not pay PUD 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 agree to other terms of
<br />payment, 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 />BY SIGNING BELOW, Harrower accepts and agrees to the terms and covenants contained in this PUD Rider.
<br />rJl
<br />(Seal)
<br />Borrower Jennifer S Stelk
<br />Borrower
<br />Borrower
<br />Borrower
<br />Mt1LTISTATE PUD RIDER-Single Family-Fannie Mae/Freddie Mac UNIFORM 1NSTRiJMENT
<br />984o.CV (8/08) 90382G
<br />(Seal)
<br />(Seal)
<br />(Seal)
<br />Form 3150 1/Ol
<br />(page ! of !pages)
<br />Creative "Thinking, Inc.
<br />GOTO(001013a2)
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