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�01�0453�
<br />MIN:100416700014466693
<br />PLANNED UNIT DEVELOPMENT RIDER
<br />THIS PLANNED UNIT DEVELOPMENT RIDER is made this 16th dayof June ,
<br />2011 , 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 "Borrower") to secure
<br />Bonower's Note to CharterWest National Bank
<br />(the "I.ender") of the same date and covering the Property described in the Security Instrument and located at:
<br />706 Grand Ave Grand Island , NE 68801
<br />T'he 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 />Riverside Estates Owners Association
<br />[Name of Planned Unit Development]
<br />(the "PUD"). The Properly also includes Bonower's interest in the homeowners association or equivalent entity
<br />owning or manag mg 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 Obligations. Borrower shall perform all ofBorrower's obli ations under the PUD's
<br />Constituent Documents. i he "Constituent Documents" are the (i) Declaration; (n� articles ofincorporation,
<br />trust instrument or any equivalent document which creates the Owners Associahon; and (in anyby-laws or
<br />other rules or regulations ofthe Owners Association. Borrower shall promptlypay, 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 carner, a"master" or "blanket" policy insuring the Property whic�i is satisfacto,ry to
<br />Lender and which provides insurance coverage in the amounts (including deduchble levels), for the penods,
<br />and against loss by fire, hazards included within the term "extended coverage," and any other hazards,
<br />including, but not limited to,,earthguakes and floods, for which I,ender requires insurance, then: i) Lender
<br />waives th provision in Section 3 t"or the Periodic Payment to Lender ofthe yearlypremium, ents for
<br />properiy insurance on the Property; and (ii) Borrower's obligation under Section 5 to mamtain property
<br />u�surance 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 requ�res 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 requ�red property insurance coverage
<br />provided by the master or blanket pohcy.
<br />In the event of a distribution of property insurance proceeds in lieu of restoration or rep air
<br />following a loss to the Property, or to common areas and facili�ies of the PUD, any proceeds payabie to
<br />Borrower are hereby and shall be paid to Lender. Lender shall apply the proceeds to the sums
<br />secured by� the Secuntv Instrument, whether or not then due, with the excess, if any paid to Borrower.
<br />C. Public Liability Insurance. Borrower shall take such acrions 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 />D. 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 of aIl or any part of the Property
<br />or the common areas and faciliries of the PUll, or for any conveyance inlieu 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 Instnament as provided in Section 11.
<br />E. Lender's Prior Consent. Borrower shall no except after notice to Lender and with
<br />Lender's prior written consent, either partition or subdivide the�roperiy or consent to: (i) the abandonment
<br />or termination of the PUD, except for abandonment or ternunation requu by law in the case of substantial
<br />destruction by fire or other casualty or in the case of a taking b� condemnation or eminent domain; (ii) any
<br />amendment to any, provision of the "Consrituent Documents' if the provision is for the ex ress benefit of
<br />Lender; (iii) ternunation of rofessional management and assump tion of self-manage�men�of the Owners
<br />Association; or (iv) any ac�ion which wouldhave the effect ofrendering the pub7ic 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 />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, Borrower accepts and agrees to the terms and covenants contained in this PUD Rider.
<br />— "�� �s � (Seal)
<br />sorrow�r Bruce A Eckhardt
<br />(Seal)
<br />BoTro er Kristin L Ec ardt
<br />Bortower
<br />(Seal)
<br />Borrower
<br />MULTISTATE PUD RIDER—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />9840.CV (8/08) 905520
<br />(Seal)
<br />Form 3150 1/Ol
<br />(page 1 of I pages)
<br />Creative Tlunking, Inc.
<br />GOTO(0016fdc5)
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