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~HARBOR FEDERAL SAVINGS AND LOAN ASSOCIATION ~
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PLANNED UNIT DEVELQPMENT RIDER }
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TNIS PI.ANNFD UNIT DEVELOPMENT RIDER u made this .....~1.~~............ day of May,,,,,,,,,,,,,,,,,,,,,, ~q S,~J,,,.,,
and is inrorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust oc Gcurity Deed (the
"Security instrument'~ of the sanx date, given by the undersignod (the "Borrower'~ to securc Borrower's Note to
HARBOR FEDERAL SAVINGS dc LOAN ASSOCIATION (the "L.ender'~ of the same date and~ covering the
Property describtd in the Security lnstrument and locatrd at:
~19.1,..s.1.a~~ck~~d..Gour..~...PRrt..~t.~...P~ji
ao:~.~.R?'~da...334~~............................................................
The Property includes, but is not limited to, a parcel of land improved with a dweUing. together with other suchparcels and
certain common areas and facilities, as described in Q£G.~.~~'~~~GC1..4.f...G4v~n~~~~,.and„ and„ R~stri ~t~,OT1S
...f.ar....~AVANNA..~a..U~.~...~s...r.ecQr.d~~...~.r~..4ff ).~1d1...R~GV!"d.. g4R.k..446a.. a~.. Pa9~..307.
!the "Declaration"). The Property is a rt of a lanned unit development known as
SA1lAJ!lN4l...G l.U 6 . ~,AT...N 5~....QN.~,
(~w+„e ot Ptsnned umt oerelopm.ent)
(the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or
managing Ihe comman areas and facilities of the PUD (the "Ow~ners A~sociation") and the uses, benefits and proceods of
Borrower's inte:est.
PUD CovE~~:vrs. In addition to the covenants and agreements made in the Security Instrument, Bonower and
Lender further covenant and agree as follows: _ -
A. PUD Obfigations. Borrower shall perform 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
equivalent document which creates the Owners Association; and (iii) any bylaws or other reiles or regulations of the Ownets
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 accepted insurance carrier~ a
"master" or "blankeY' policy insuring the Property which is satisfactory to I.ender and which provides insurance coverage
in the amounts, for the periods, and against the hazards L.ender requires, including fire and hazaTds included within the term
"extended coverage," then: _
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lenu~: of one-twelfth of
the yearly premium installments for hazard insurance on the Property; and
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the ProF,erty 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 Iapse in required hazard insurance coverage provided by the master
or blanket policy. t
s
I~ the event of a distribution of hazard insurance proceeds in lieu of restoration 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 surns secured by the Security Instrument, with any excess paid to
Borrower.
C. Publie Liability Insurance. Borrower shafl take such actions as may be reasonabie to insure that the Owners
Association maintains a public liability insurance policy acceptable in form. amount, and extent oCcoverage to Lender.
D. Condemnation. Z'he proceeds of any award or claim for damages, direct or consequential, payable to Bonower in
connection with any condemnation or other taking of ali or any part of the Property or the common areas and facilities of the
~ PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. Such proeeeds shall
be applied by Lender to the sums secured by the Security Instrument as provided in Uniform Covenant 9.
~ E. Lender's Prior Cossent. Borrower shall nat, except after notice to Lender and with I.ender's prior written
~ consent. either partition or subdivide the Property or consent to: .
~ (i) the abandonment or termination of the PUD, except for abandonment or termination required by law in the
~ case of substantial destruction by fire or other casualty or in the case of a talcing by condemnation or eminent domain;
(ii) any amendment to any prov:sion of the "Consiituent Documents" if the provision is for the express benefit
of Lender;
(iii) 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 public liability insurance coverage maintained by
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the Owners Association unacceptable to Lender.
F. Remedies. If Borrower dces not pay PUD dues and assessments when due, then Lender may pay them. Any ~
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amounts disbursed by i,ender under this paragraph F shall become additional debt of Borrower secured by the Security
Instrument. Unless Borrower and I.ender agree to other terms of payment, these amounts shall bear interest from the date of
~ disbursement at the Note rate and shal! be payable, with irtterest, upon notice from Lender to Bonower requesting payment.
j
BY SIG?~ING BELOW, Borrower accept~ and agrees to the terms and provisions contained in this PUD Rider.
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MULTISTATE PUD RIDER-single Famiiy-FNMA/FHLMC UNIfORM INSTRUMENT •
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