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<br /> PLANNED LTNIT DEVELOPMENT RIDER98_���3145
<br /> THIS PLANNED UNTT DEVELOPMENT RIDER 1S TriadB thlS..,30th,day of.�h,..1998...
<br /> and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of
<br /> Trust or Security Deed (the "Security Instrument") of the same date,�given by the undersigned (the
<br /> "Borrower") to secure Borrower's Note to�`?K.OF,WOOD_RIVER,dba,IIiERRI'I�,GE gANFC
<br /> c�i�ID I SL�i�ID�,,on3ani zed and,exist ing.under,the,,laws,of,t�e,,state of
<br /> Nebras}ca�..P:0:.�OX,5138,..(�AI�ID,ISL�I�ID,..IJE...68802....................... .. .........r.�
<br /> (the "Lende "
<br /> of the same date and covering the Property described in the Security Instrument and located at:
<br /> 2217,ARROWf�AD,RQAD,..C�A1�ID,ISL�Al�ID�.NE..68801
<br /> ..................................................... .
<br /> (Property Address]
<br /> The Property includes, but is not limited to, a parcel of land improved with a dwelling, together
<br /> with other such parcels and certain common areas and facilities, as described in .......................
<br /> 2217,AR120Wt�AD.RQAD,...C�RArID.ISI�AND�.NEBRASKA
<br /> ..... ...................................................................... ....
<br /> ............................ ...............
<br /> (the "Declaration"). The Property is a part of a planned unit development known as ..................
<br /> RIVERSIDE.ACT�E'S..................
<br /> ................................................................................
<br /> [Name of Planned Unit Development]
<br /> (the "PUD"). The Property also includes Borrower's interest in the homeowners association or
<br /> equivalent entity owning or managing the common areas and facilities of the PUD (the "Owners
<br /> Association") and the uses, benefits and proceeds of Borrower's interest.
<br /> PUD CovExnrrrs. In addition to the covenants and agreements made in the Security
<br /> Instrument, Borrower and Lender further covenant and agree as follows:
<br /> A. PUD Obligations. Borrower shall perform all of Borrower's obligations under the
<br /> PUD's Constituent Documents. The "Constituent Documents" are the: (i) Declaration; (ii) articles
<br /> of inccrporation, trust instrument or any equivalent document which creates the Owners
<br /> Association; and (iii) any by-laws or other rules or regulations of the Owners Association.
<br /> Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the
<br /> Constituent Documents.
<br /> B. Hazard Insurance. So long as the Owners Association maintains, with a generally
<br /> accepted insurance carrier, a "master" or "blanket" policy insuring the Property which is
<br /> satisfactory to Lender and which provides insurance coverage in the amounts, for the periods, and
<br /> against the hazards Lender requires, including fire and hazards included within the term "extended
<br /> coverage," then:
<br /> (i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to
<br /> Lender of the yearly premium installments for hazard insurance on the Property; and
<br /> (ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance
<br /> coverage on the Property is deemed satisfied to the extent that the required coverage is provided
<br /> by the Owners Association policy.
<br /> Borrower shall give Lender prompt notice of any lapse in required hazard insurance
<br /> coverage provided by the master or blanket policy.
<br /> In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair
<br /> following a loss to the Property, or to common areas and facilities of the PUD, any proceeds
<br /> payable to Borrower are hereby assigned and shall be paid to Lender. Lender shall apply the
<br /> proceeds to the sums secured by the Security Instrument, with any excess paid to Borrower.
<br /> C. Public Liability Insurance. Borrower shall take such actions as may be reasonable to
<br /> insure that the Owners Association maintains a public liability insurance policy acceptable in
<br /> form, amount, and extent of coverage to Lender.
<br /> PUD RIDER•Single Family•Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3150 9190
<br /> Bankers Systems,Inc.,St.Cloud,MN (1-800397-2341) Form PUD-R 2/8/95 � /pBgB 1 Of 2J
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