Multistate PUD Mortgage Rider | USA

Attach this PUD Mortgage Rider to mortgages for single family residences that are part of a planned unit development (PUD).

• The Rider will become part of the mortgage or deed of trust and supplements the provisions of the loan document.
• The borrower agrees to perform all of its obligations under the Declaration, bylaws, and other documents governing the PUD property, and to pay all dues and assessments when they become due.
• The PUD owners' association must maintain blanket property insurance and public liability insurance on the condominium project.
• If the borrower fails to pay dues and assessments when they become due, the lender may pay them, and they will form part of the debt owed by the borrower.
• Form 3150 USA Multistate Planned Unit Development (PUD) Mortgage Rider is a free download from FreddieMac.com.