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�01�0��5� [Spaca Ahova This Lane For Recording Data] PLANNED iTNIT DEVELOPMENT RIDER THIS PLANNED LJNIT DEVELOPMENT RIDER is made this 29th day of July , 2011 , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust nr Security Deed (the "Security Instrument") of the same date, given by the undersigned (the "Borrower") to secure Borrower's Note to Pinnacle Bank — (the "Lender") of the same date and coveru�g the Property described in tbe Securily Instrument and located at: �e�� n• ti� nu r�......a 7�i.,..a iv� 68801 [Property Addressj The Property includes, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and certain common areas and facilities, as described in T* l6 (161 Rainbor�v Lak� Second �Lb ivi ion Hatl CaL� (the "Declaration"}, Tbe Property is a part of a planned unit development known as R,a�bow Lake Association �Name of Planned Unit Developmentj (the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners Association") and the uses, benefits a.nd proceeds of Borrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Bonower and Lender fiu�ther covenant and agree as follows: A. PUD OBLIGATIONS. Borrower shall erform all of Borrower's obligations under the PUD's Constituent Documents. The "Constituent Documents" are the: (i�) Declaration; (ii} articles of incorporation, trust instrument or any equiva.lent document which creates the Owners Associatxon; and (iii) any by-laws or other rules or regulations of the Owners Association. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B. HAZARD INSURANCE. So long as the Owners Association maintains, with a generally accept�ed insurance carrier, a"master" or "blanket" policy insuring the Property which is satisfactory to Lender and which provides insurance coverage in the amounts for the periods, and against the hazards Lender requires, including fire and hazards included within the term "extendec� coverage", then: (i) Lender Waives the provision in Uniform Covenant 2 for the monthly payment to Lender of the yearly premium imstallments for hazard insurance on the Properiy; and (u) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Properly is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. Borrower shall give Lender prompt notice of any lapse m requ�red hazard msurance coverage provided by the master or blanket policy. In the event of a distribution of haza.rd insurance proceeds in lieu of restoratioa or repair following a loss to the Property, or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by the Security Insbrument, with any excess paid to Bonower. C. PUBLIC LIA.BLLITY INSURANCE. Borrower shall take such actions as may be reasonable to inswre that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. CONDEMNATION. The proceeds of any award claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other takmg of all or any part of the Property or the common areas and facilities of the PUD, or for auy conveyance in lieu of condemnation are hereby assigned and shall be pa.id to Lender. Such proceeds shall be applied by Lender to the sums secured �iy the Security Instrument as provided in Uniform Covenant 10. E. LENDER'S PRIOR CONSENT. Bortower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Properiy or consent to: (i) the abandonment or termination of the PUD, except for abandonment or termination required by law in the case of substantial destructio� by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the "Constituent Documents" if the provision is far the express benefit of Lender; � ui termination of professional management and assumption of self-management of the Owners Association; or iv� any action which would have the effect of rendering the pubhc liability insurance coverage maintained by the Owners Association unacceptable to Lender. F. REMEDIES. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragaph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with mterest, upon notice from Lender to Borrower requesting payment. BY SIGNING BELOW, Borrower accepts anda�rees to the terms and provisions contained in tYus PUD Rider. The undersigned borrower(s) acknowledge(s) receipt of a copy of this instrument. (SEAL) �S �� (SEAL) Bonower BOn° eL Michelle J rin er Bradley D Springer (SEAL) (5EAL) soaower sorrower (SEAL} (5EAL) B Bortower MULTISTATE PUD RIDER - Single Family - FNMA/FHLMC UNIFORM INSTRUMENT Form 3150 9/90 8368.CV (1/fl0) A300102395