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201008653 PLANNED UNIT DEVELQPMENT RIDER Lan�r #: 3zs�z�x t�llll: 1000212--68�Q379488-6 CABE �: THIS PLANNED UNIT DEVELaPMENT RIDER is made this rgT� day of �o�s�R, zoia and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed �the °5ecurity Ins#rument") of the same date, given by the undersigned (the "Borrower") to secure Barrower's Nc�te to aoR�wssx sn��, A FBnERAL SAVIHCii3 su�x (the "Lender") of the same da#e and covering the Property described in the Security Instrument ar�d IOCated at: 32 Via Traivoli, (�raad i�land, xs 68803. The Property includes, but is not limited to, a parcal of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as described II'] CQVEIIANTB� Cp1�DITI�D1&S AtiTD RE3TRICTIQ�B �the "Dt�claration"). The Property is a part of a planned unit develnpment known as cv�rri��a�rni. c�►�ua$x �the "PUD"}. The Property also incfudes Borrower's ir�terest in the homevwners association or equivalent entity owning or mas�aging the comman areas and facilities of the PUD (the "Qwners Association") and the uses, benefits and proceeds of Borrawer's interest. PUD GUVENANTS. In addition ta the covenants and agreements made in the Security Instrumer�t, Barrower and Lender further co�enant and agree as fallows: A. PU17 abligations. Borrower shall perform all of 8arrower's obligations under the PUD's Constituent Dvcuments. The "Constituent Documents" are the (i} Declaration; �ii) articles of incorporativn, trust instrument or any equivalent document which creates the Owners Association; and �iii) any by-faws or other rulas or regulat�ons of the �wners Association. Barrower shall prompt( pay, when due, all dues and assessments imp�sed pursuant ta the Canstituent Documants. B. Property Insurance. So long asthe QwnersAssocia�on maintains, with a generaUy accepted insurance carrier, a"master" or "bianket" policy insuring the Property which is satisfactory to L.ender and which provides insurance coverage in the amounts �includir�g deductible levels), forthe penods, and against Ioss by fire, hazards included wid�in the#srm "extended oo�erage," and an� other hazards, induding, but not limited to, e.�rthquakas and floods, far which Lender requ�res insurance, then: �i) Lender waives the provision in Section 3 for the Periodic Payment to L.ender of the yearly premium installments for property insurar�eontheProperiy;and(ii}Borrower'sobiigationunderSection5�amain#�inproperty insurance coverage on the Property is deemed satisfied #o the extent that the required coverage is pro�ided by the Qvmers Associatian palicy. What Lenderrequires asaoondition afthis wanrercanchangeduring theterm ofthe Ivan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket palicy. In the event of a distribution of property insurance proceeds in lieu of restoratian or repair follawing a loss to the Property, ar to common areas and faciiities of the PUD, any praceeds payableto Borrowerare hereby assigned and shaf! be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security lnstrument, whether or not then due, with the excess, i# any, paid ta gorrower. C. Public Liabilfty lnsurance, Borrower shatl take such actians as may be reasonable ta ensure that the Owners Associatian maintains a public liability insurance policy acceptable in form, amount, and eoctBnt of coverage tv Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequen#iai, payakale to Borrower in cannection with any Gondemnation or other taking of all or any part of the Property ar the cvmmon areas and facilities of th PUD, . or for any conveyance in lieu of Gondemnation, are hereby assigned and shall pa��.��" ��it�.i+� � Ml1LTIS7ATE PUD RIpEA--8ingla �amily-Fannl� Ma�/Fr��o Mac UMIFORM INSTRUMENT Form alap / � te99-2008 Onlina Dxurnonts, Inc, Ps�� 1 O� 2 8150RDU o�