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HAR~i(~R 1C~1~~E~tA,i, ~A'VII`1GS AN1~ ~,~A~1 AS~OCYA7'I01~1
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PLAI~INED UNIT 1)EV~LOPlVIE1~T RI1~ER ~
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Tlils Yt.ANNF.[~ ~NIT DEVELONMENT RiDER is made this .......~,QTH.......... day of ........A~~A~~;R 19.....~.f~
and is incurporated into and shall be deemed to amend and supplement ihe Mortgage, Deed of Trust or Sec~~rity Deed (the
"Securily lnst~ument'~ of the same date, given by the undersigned (the "Borrower'~ to secure Borrower's Note to
NARE30R FEDI:RAL SAVINGS & LOAN ASSOCIATlON (the "Lender'~ of the same date and covering the
Property described in the Security Instrument and foeated at:
...........................~`11l~xI`J~.~..C.OR~'~'.~..RATrkl..S:~T,X.r.. FJG~...~.~4~~........................................................................................ `
~Property Address)
Tl~e Propcrty includ~s, but is not limited to, a parcel of land improved with a dwelling, together with other such parcels and
certain common areas and Pacilities, as described in UA~.t ..5.~...MA~R~~1~K...V.~k~A~i,~,~..kiAli,~RU~..A~AG~...P.I~~~..~1.R. 4
...a~c.axdi.ng..zn...zt~~..P.~ax...xb.~x~s~.~..AZ~..~E.i.~s...~n...xt~~..f?~.~~~c.~..Q.~..t~~...~i~xc,u~.t...~o.ux.t...i.n...and.......... '
...~px...S.k....~.uG~.~..C.aun.kX~...F.~Ax~,~a~..~ts~.axci.~d...~n..P~.a.G..fi,v.ak...24,...~a.gss...~~-~QA ~
(the "Declaration"). The Property is a part of a planned unit development known as
. ~R?~I~~ Y.~~!~~1G~...............................................................
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(Name of.Planned Unit DevetopmentJ
(the "PUD"). The Property also includes Borrower's interest in the homeowners association or equivalent entity owning or
managing thz common areas and facilities of the PUD (the "Owners Association") and the uses, benefits and proceeds of
Borrower's interest.
PUU Co~'E~A;~TS. ln additinn to the covenants and agreements made in the Security Instrument, Borroµ~er and
Lender further co~~enant and agree as follows:
A. PUD Obligations. Borrower shall perform all of $arrower's obligations under the PUD's Constituent
Documents. The "Constituent Documents" are the :(i) Declaration; (ii) articles of incorporation, trust instrument or at~y
equivalent doc;ument which creates the Owners Association; and (iii) any by-laws or other rules or regulations of the Owners
: Associatios~. Borrower shal) promptly pay, «~hen due, all dues and assessments imposed pursuant to the Constituent
Dc~cuments.
B. Hazard Insurance. So long as the Owners Association maintains, with a generaliy accepted 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 6re and 3~azards included ~vithin the terin `
! "extended coverage," then: -
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lenu,.: ~f one-twelfth of
; the yearly premium installments for hazard insurance on the Property; and
~ ~ (ii) Borro~ti~er's obligation under Uniform Covenant 5 to maintain hazard insuiance coverage on the ProF~erty is
~ deemed satistied to the extent that the required coverage is provided by the Owners Associ~tion policy.
€ Borrower sh~ll give Lender prompt notice of any lapse in required hazard insurance coverage provided by the master
; or blanket policy. . r
' In the event of a distribution of hazard insurance proceeds in lieu of restora~ion or repair following a loss to the
j Property or to common areas and facilities of the PUD, any proceeds payable to Borro~ver are hereby assigned and shall be
paid to Lender. Lender shall apply the proceeds to the sums secured by the Security Instrument, with any excess paid to
Borrower.
C. Public Liability Insuranee. Borrower shall take such actions as may be reasonable to insure that the Owners
Association rnaintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender.
D. Condemnateon. The proceeds of any award or claim for damages, direct or consPquential, payable to Borrower in
connection with any condemnation or other taking ofall or any part of the Properiy or the common areas and facilities oCthe
PUD, or ~or any conveyance in lieu of condemnation, are hereby assigned and shall tse paid to Lender. Such pra;eeds shaU
be applied by Lender to the sums secured by the Security Instrument as provided in Uniform Covenant 9. -
E. Lender's Prior Consfnt. Borrower shall not, except after notice to Lender and with Lender's prior written
consent, either partition or subdivide the Property or consent to:
(i) the abandonmcnt or termination of the PUD, except for abandonment or termination required by law in the
cas~ of suhstantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain;
(ii) an~~ amendment to any provision of the "Constituent Documents" if the provision is for the express benefit ~
of Lender; ~
(iii) termination of professional management and assumption of self-management of the O~~ners Association; .
or
(iv) any action which would have the effect of rendering the public 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 paragraph F shall become additiona! debt of Borrower secured by the Security
Instrument. Unless Borrt~wer an~ I.ender~e to other terms of payment, these amounts shall bear interest from the date of -
disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting paym~nt.
Bv Stch t~o B~LOw. Aorrower accepts and agrees to the terms and provisions contained in this PUD Rider.
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. . . . . . . (Seal)
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?~J~~~~~~ W LTER J PODBIEI~CI , .
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-Bor.owe. -
~Y 2Fj P 2 JOAN M PODBIELSKI
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MULTISTATE PUD RIDER-single family-FNMA/FNLht~ UNIFQRtd INSTRUMENT •
6 J 84 ~ z 2 ~0 ~7 ~ 7. I,N 1~4A