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<br /> . � D��EI.OPMENT�IIt . � �`":
<br /> ` PLANNED iTNi'�
<br /> ---�; :; . .
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<br /> ' , . Tms P�nroxm Uxrr D�vei.opn+�rrr Itro�c is made this...���?.day of.�?�?,..��8..........., . ` . ,_
<br /> ' Deed of , ` ,'•� �
<br /> .� and is encorporated into and shall be deemed w aAtend and supplement the Mortgage, - '" -_ _
<br /> : ,� Trust or Security Deed(the°Security Instrument")of the same date.given b the undersi ed{the ��;�,� � _
<br /> � . ` t "Borrower")to secure Borrower's Note to���F?�l,],�I�.c�?a.�.... .......... � ,--�
<br /> -�`��" (�?.A.i�D.I�...Q?9�?�.�.�sti?}g.}nl�e?:.�law,s,.R�.�.�X�of............ ' �: ` ."��`r-,
<br /> .- Y � N�1.�...�':Q:.�.S?:�$...4?�.���.�...6�$��....................... (the "Lender") � � �4 �:
<br /> � �1 of th^e�same date and�c/o�7v�}e�rin�tjh�Te���esc*�np'6ed'm the Se�xuity Insw�t and tocated at: _ , , "�. -
<br />. . . `_ ��t..��. .... .i\1±[Y/l..:Y::T.T -./.•••••/�dIBS.4��................................................. � � • . i(.., •�t`�. .
<br /> � � The Pro in+eludes, but is not limited to,parcel of land improved with a�e�Ttosgether " "'�'.."<.� ' _
<br /> - .. � c' aith other s�ach�t Is and certain comman areas and facilities.as descn'bed in................r...... � ,s-`'��'`
<br /> : ,� . - CONDITIONS AI�iD�RESTRICTIONS ........................................... .:_ _ ''
<br /> �• � .............................................. .................................. .......................................... ; � :,'::���_f'
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<br /> � ' � (the"Declarauop").The Property is a part of a planned unii development kaown as.................. . •��,�.a-. _
<br /> � ; . .�• ..................................RT�ID�oE1G�rmed Unit OevetoPmsntl ........................................... --- '�-=_�
<br /> , ..4 • ,
<br /> . _ ;� (the "PUD"). The Property also includes Borrower's interest itt the homeowners association or ._'�•f' _.
<br /> `� equivalent entity owning or managing the co�on azeas and faciliues of the PUD (the "Owuers �•.,�� . � .
<br /> Assaciauon")and the�ses,benefits and praceeds of Borrower's interest. ,`-,. .., '�•;:�`R'-
<br /> . p�TD Covgnrarrrs. In addition to the covenants aud agreements made in the Security .,..,r.�.,.,,: ....°-.-_°
<br /> . .� .� ...�,�• .. -
<br /> Instrument,Borrower aud Lender farther covenant and agree as follows: ;=._..:;t�:.--�.
<br /> - .� �. A. PUD ObligatIons. Bonower shall perForm all of Bonoaer's obligations ureder the ' •-�,�:�-..�
<br /> .� � , . ��• PUD's Constituent Documents.The"Constituent Documents"are the:(i}Declaration; (ii)articles ` �. '-
<br /> :.;.�,«_
<br /> of incorp�ration, uust instnunent or any equivalent document which creates the Owuers .. 1..�..
<br /> .� ` . � Association; and (iu7 any by-laws or other rules or reguladons of the Owners Ass iciatio�n. ';.,i
<br /> � � ,� Bonower shall prompdY paY. when due, all dues and assessments imposet1 purs�an ,
<br /> � • � Constituent Documents. .�,� ....
<br /> . . �. • � B. Hazard Insurance. So long as the Owners Assaciadon maintains, with a generaUy � �';�-- �:
<br /> � �� ; accepted insurance carrier, a "master" or "blanket" policy insuring the Property wluch is ���,A�
<br /> �` � satisfactory w 1,ender and wluch provides insurance coverage in the amounts,for the periods,and ': �;�;r
<br /> . ��. against the bazards Lender reqnires, including fire and hazards included urithiu the term "extended `:"��
<br /> ' coverage,"then: ' " , • .'�,s�-
<br /> � '.� (i)Lender waives the provision in Uniform Covenant 2 for the monthly payment to ,•_,��,
<br /> �..----=-...---,---;' Lender of the yearly premium installments for 8azard insurance on the Properry;and � ` �-:
<br /> (ii) Bonower's obligauan under Unifarm Covenant S to maintain hazard insurance . .• ..,.. ti=�.-.
<br /> � , � coverage on the Property is deemed satisfied to the extent that the requ i r e d coverage is provi d e d . :�;;�?�T-
<br /> �.�.'�," ��
<br /> . , , by the Ovmers Associauon policy. , � ''"
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<br /> � .. . � .-. Borrower shall give Lender prompt nodce of any lapse in required hazard insurance . . .. .�µ��.
<br /> coverage provided by the master or blanket policy. • . '°y-�-
<br /> • In the event of a distributian of hazard it�stuance praceeds in lieu of restorauon or repair � : � ���
<br /> . following a loss to the Property, or to common azeas and faciliues of the PUD, any proceeds � ''�°
<br /> � ,3�.=.
<br /> . � { payable to Borrower are hereby assigned and shall be paid to Lender. Lender shaU apply ihe , • �-+�F;..
<br /> � � �� proceeds to the sums secured by the Securiry Instrument,with any excess paid to Bonower. . ,,:•• . � .���
<br /> � � C. Publlc Liabitity Insurance. Bonower shall take such actions as may be reasonable to . •
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<br /> ; insure that the Owners Associarion maintains a public liability insurance policy acceptable in . .
<br /> form,amount, and extent of coverage to Lender. �� � . �
<br /> ' '. PUDfU�ER•Sinae�amdv•Fannie6laNFroddloMaoU171fONMI6STRUME(�T \ Form315D9(9 . °'
<br /> ... - Banfcaro Syatama.inc..51.CIOUO,MN It-800•397•230V Form PUDfl tl8/9D lABgo 1 0J 2��/ _ . . . .
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