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201103270
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201103270
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Last modified
10/17/2011 2:16:56 PM
Creation date
4/28/2011 2:22:54 PM
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DEEDS
Inst Number
201103270
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201103270 <br />PLANNED UNIT DEVELOPMENT RIDER <br />(Home Equity Conversion Mortgage) <br />321 - 2997831 255 951 <br />THIS PLANNED UNIT DEVELOPMENTRIDERis made this 20TH day of APRIL, 2011 <br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust <br />or Security Deed ( "Security Instrument") of the same date given by the undersigned ("Borrower") to <br />secure Borrower's Note ( "Note ") to <br />WELLS FARGO BANK, N.A. <br />("Lender") of the same date and covering the Property described in the Security Instrument and <br />located at: 3019 COLLEGE ST , GRAND ISLAND NE 68803 <br />[Prop" Address] <br />The Property is a part of a planned unit development ( "PUD ") known as: <br />CONTINENTAL GARDENS <br />[Name of Planned Unit Development] <br />PUD COVENANTS. In addition to the covenants and agreements made in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows: <br />A. So long as the Owners Association (or equivalent entity holding title to common areas and <br />facilities), acting as trustee for the homeowners, maintains, with a generally accepted <br />insurance carver, a "master" or "blanket" policy insuring the property located in the PUD, <br />including all improvements now existing or hereafter erected on the mortgaged premises, <br />and such policy is satisfactory to Lender and provides insurance coverage in the amounts, <br />for the periods, and against the hazards Lender or the Secretary require, including fire and <br />other hazards included within the term "extended coverage," and loss by flood, to the <br />extent required by the Secretary, then: (i) Lender waives the provision in Paragraph 2 of this <br />Security Instrument for the payment of the premium for hazard insurance on the Property, <br />and (ii) Borrower's obligation under Paragraph 3 of this Security Instrument to maintain <br />hazard insurance coverage on the Property is deemed satisfied to the extent that the <br />required coverage is provided by the Owners Association policy. Borrower shall give Lender <br />prompt notice of any lapse in required hazard insurance coverage and of any loss occurring <br />from a hazard. In the event of a distribution of hazard insurance proceeds in lieu of <br />restoration or repair following a loss to the Property or to common areas and facilities of the <br />PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for <br />application to the sums secured by this Security Instrument, with any excess paid to the <br />entity legally entitled thereto. <br />B. Borrower promises to pay all dues and assessments imposed pursuant to the legal <br />instruments creating and governing the PUD. <br />HECM Planned Unit Development Rider <br />First American Loan Production Services <br />Q2008 First American Real Estate Solutions LLC <br />FALPS# MUHECMI PUD Rev. 02 -23-09 <br />NMFL #8871 (PUDQ) Rev 12!2009 <br />Page 1 of 3 <br />
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