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~410U4515
<br />MIN: 100952400025086495
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />TI IIS PLANNED UNIT DEVEI,OPMF•:N'1' RIDER is made this 30th day of June
<br />2010 ,and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed ofTrust, or
<br />Security Deed (the "Security instrument") of the same date, given by the undersigned (the "Burrower") to secure
<br />Borrower's Note to Pinnacle Bank
<br />(the "Lender") of the same date and covering the Property described in the Security Instrument and located at:
<br />3928 Warbler Road Grand Island, NE 68803
<br />[Property Address]
<br />The Property includes, but is nut limited io, a parcel of land improved wish a dwelling, together with other such
<br />parcels and certain common areas and facilities, as described in Coveuants, Conditions and Restrictions
<br />(the "Declarative"). "I'he Property is a part of a planned unit development known as
<br />SummerBeld Estates Homeowners Association
<br />[Name of Planned Unit Dcvclopmeet]
<br />(the;`PUll"). The Property also includes Borrower's interest in the homeowners association or equivalent entity
<br />owning or managing the common areas and facilities ofthe PLJD (the "Owners Association") and the uses, benefits
<br />and proceeds of Borrower's interest.
<br />PUD COVENANTS. In addition tv 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 afl3orrower's obli ations under the P[1D's
<br />Constituent Documents. The "Constituent Documents" are the (i) Declarative; (ii~ articles ofincorporation,
<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 Association. Borrower shall promptly pay, when due, all dues and
<br />assessments im~tused 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 insurin~ the Property whic~t is satisf-actory to
<br />Lender and which provides insurance coverage in the amounts (Inc uding deductt_ble levels), fur the periods,
<br />and against loss b 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 lo.l.ender of the 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 Associative policy.
<br />What Lender requires as a condition of this waiver can change,during the terttt 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 repair
<br />following a loss to 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 bender, Lender shall apply the proceeds to tie sums
<br />secured byy the Security Instrument, whether or not then due, with the excess, tf any paid to Borrower.
<br />C. Public Liablhty Insurance. Borrower shall take such actions as ma die 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 Borrvwer in connection with an condemnation or other talong ofall or any part ofthe Property
<br />or the common areas and facilities of the P~D, or fur any conveyance in lieu of condemnation, are hereby
<br />assigned and shall be paid t~ Lender. Such proceeds shall be applied by Lender tv the sums secured by the
<br />Security Instrument as provided in Section 11.
<br />E. Lender's Prior Consent. Iorrower shall not except aRer notice to Lender and with
<br />Lender's privy written consent, either partition or subdivide the ~'roperty yr consent tae (i) the abandonment
<br />or termination of the PUD, except for abandonment or termination required by law in the case ofsubstanlial
<br />destruction by fire or other casualty or in the case of a talon by condemnation or eminent domain; (ii) any
<br />amendment to any provision of the "Constituent Documen~s' tfthe provision is for the express benefit of
<br />Lender; (iii) termination of rofessional mana ement and assum tivn of self-management of the Owners
<br />Associattvn; or (iv) any ac}ion which would~ave the effect ofptcndering the public liability insurance
<br />coverage maintained 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 />pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of
<br />Borrvwer 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 Burrower requesting payment.
<br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this PUD Rider.
<br />/ (Seal)
<br />Borrower Mark Ii. Gloor
<br />ij G (Seal)
<br />B ower Jane E. Gloor
<br />(Seal)
<br />Borrower
<br />(Seal)
<br />Borrower
<br />Ml1LTISTATE PIiURlDER-Single Family--Fannie MeelFreddie Mac l1NIFORM INSTRUMENT Furm 3150 11111
<br />984U.CV (8/U8) 68988850AU (page / of 1 pages)
<br />Creative Thinking, Inc.
<br />GGTO(0U27562d)
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