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<br /> ,vT/°'�. ;.!!%� :44 . S'p� f� , �. t y��:F._ .G ' I _'
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<br /> . � �� ��' lienhotders of r�cord. The agreernent to terminate must be avIdenced by the
<br /> '�'��` �` executton of a te�entnatton agreemenL or�atiflcatians theroof, in gha same manner as
<br /> � a Master Dee6 and Declaretion. by the requisit� numbe� of unii owne�s. The
<br /> � ,.;�':,�<� � tarmination � reement shall specffy e da4e after whEch the agreement wiU be vaid
<br /> . g �Y;
<br /> untess it is recordad befare ihat date. Yha tetmination egreement is Bffective onty ��::-�
<br />' ��r�.,'' h .:. upon tts reaording in the Offlce of the Aegtster of Caeds of Hal{ Caunty, NebtasEca.
<br /> � ���`r�'��' The termination agreement may provlde that all acmmon �lements and units of the
<br /> "`"� < �� '���� � condcminium shall be sotd fo[towing ter�inatioa. if, pursuant to the sgresment, any �F�
<br /> =,A�_-,—�.- resl est�te in the aondominium is to be sotd fcqowing termination, the termination
<br /> , `` .. _
<br /> �: ��� agr�ement must set farth the minimum tenns of the saEe. The Association,on behalf -
<br /> �� ��`��- � of the unit pwners, may contract for�e sals of real estate and the condominium, but ��
<br />;.`: .- . �f.
<br /> . . the co�uact ta not btndine on.the unit owners until approved by t�te percentages set .
<br /> :�� forth in this Section. •' .
<br /> , ;
<br /> �-=
<br /> , ;�- -
<br /> tf any�ea1 estat�fn the�n�t�uminium is to be satd foltowing temnination, title , , _
<br /> ���`rK -'`. � to that rea! e�ate, u�an terr�irratia�t, v�is in the Assoctatlon as t�ustees for the -
<br /> • � E�otders nf att inYer�sY� in the units. 'F'tc�reafter, the Associstior� has alt powers _
<br /> , ::�,� <<<:� � a�cessary arid app�cfiat�to e��ct the sate. Untit t�e sale has been conctuded and =_
<br /> „ ;:,; , :;�. 4hs proceecFs d'sstri�uted thee�mfQ the Asscciatian car�einues in existencQ with all the.
<br /> '�'�' ��wers it h�d befere�ernlinat�on. Proceeds of ti�sale a�nu��8e distrftiuted to nntt u
<br /> ` �� ��`f�Y�:= � � , awner�and ltenhotrtaa��their �nterests may appear. in p�o��s�on to the respec�v� `���"
<br /> ��,',^�f� °° interests of unit own�rs as provided hereinafter. As toRg as th��Assoaiation hoids � ",
<br /> -,. ,
<br /> '����'-�""` � � 8tte to the reai estate,each uni�owner and his or her s�ccessars in interest have an
<br /> . ,.� .,;., � .
<br /> � � : 7..Y
<br /> -.;;;�;:, ���.� � , exclusive�ight to occupan�y of the portion of the real estate that formerly constituted
<br /> -•�-���:�:��-`� his or her�unit. During�the pertod of.that�c�upancy, each unit owner and hls or her
<br /> ���,:� ,:--�-�,
<br /> :�"�:,�.,.c f .r.?�.
<br /> _ ;. r�,�,�,,,,.. s.uccessors in interest remain li�le for atl�ss�ssments and other o6ligations imposed
<br /> �•,:��.,-F;.�r; .�. � � an unit owness herein or in th�;.(���ter Oeed and Q�lara4ian. ,
<br /> , �.,� , ;:: ., . .
<br /> _< � %„� '�f ,.•: l r.�' �. , ' ;r '';.,
<br /> l . . . . ..
<br /> � '�����` �� � If the real est� consfafi.�ing th� cae�cf�� �s,czo.�.�o be sotd falta�ncing
<br /> 8 �
<br /> `}��� ���1'"�''�� termination, title to ;�r;�; coYnmon ei�mir�r►����¢an�:.�+�'"t���i6f:..gea! estate in 4�;. . � '
<br /> _.t OtI � - . _ _ . _ _ . . .
<br /> ' J�u .
<br /> ` `" condomintums vest in �the untt awners+�p�: �rnm�rr�tion �s Y'enan�s �R co�►m�� �� � `,,s�-
<br />� - ., . . � � praportton to.thair�espective i �r�sts,as�rov�de�i'�ieinaftet, and li�ns en the unns � ,� . -
<br /> `t � � ' �� `.�' � shift gccordingty. While the tenancy in aommon exists, ea�h unit owner and his or '��"�%�
<br /> '. ;r�;J�
<br /> � t`• . her successors in in4erest heve an exctus'srcq right to occupancy of ehe,portEon of the �
<br /> � : real estate th�t formerty consta2e��ed hls�.s.fier un1t. ��;;;, _ •
<br /> �.:.�� %� � � �'`'• � : � ..
<br /> , . .:>
<br />- �� .,s �� , '�r°� Foitowing the terminatlnr�rcE�`tihe cQ�atq�r4`►.�c?i,�.t�he proceeds of any"sale.af real '�`+�
<br /> �..�,. , .
<br /> ,i 1.'•��`"� '- � � , ��tate;toget�►er wit6�.�he assets of�th�a,�����; $fe held by the AssociatiQn���.
<br /> t'<�����.=_�� • �stee for unit ow[�ers'i�nd hotders of lien�,+���,+��,+its as ttte€�;:3t�terests�may��}�.:��.: , .. �
<br /> �;�.;, .., •:.:�... �£ . Foltowir� ��� ' �, .:.. . , • : :��,
<br /> ., ��ination, creditors of ihs�A�sc�ce�dt�ac�frra�ldirtg tfens on the tt�f��tt��`� �.,
<br /> • ���.':�.�� we�e c��?dt�i bafore temninatio�;may eni�rce tha�.�ens in the same ma��r as�any �����-��:��•
<br /> .,.,,
<br /> �� ' tienhotdv��`.',��►11 other c�editors of the ���7ciati�n�are to be treated as ff they hatl
<br /> ===:T.�� . �:.:. . _. .
<br /> . . , � �ie���i�ns an the units immediate�t�i.:.l�qfo,re termtRation. ,;;,,
<br /> � ..,,. ' � �`.
<br /> � �' :'� - � 1'i�pr�pective interests���unit own�rs�f�ir��n4loned �re as foDows: ��`', ;' � .��
<br /> . � ... ,� . . :,.;; . . , ..,., ., -
<br /> .. ...,,(. 1'_ ,: ,
<br /> j (a) Except as provided in paragraph(b)oP t��3 Subsection, respective
<br /> - . . . � interests of unie owners are the fafr.•rnz��'�cet values of their units, .,' �
<br /> � . ��•�� �� � limited common`�elements, and�',`±hrt�nmon etement interest _
<br /> ••��,� ��
<br /> ,,, :.:. .. . •�� � � _
<br /> intmedtat�ly bef��i�ae temninatlfln;�s�i��termiaed by one or more ° "
<br /> � � . � ��'" independeRt Q��r��ssrs seEectad�by.the Associa4ion. The decision ' '
<br /> . . . �.. -
<br /> .: . . ; of tha indapeRdent �p�rai;•�is sh�^I be distributod to the untt _
<br /> :� � owners and beccme�f:nal unless �lisapprovod within thirey �301 =
<br />- - � � . days atter dlstribution by unit owners of units to v�fiich tvu�nty � -
<br /> � five percent(25%}of the votes in the Association are ailocated. =
<br /> �� • The proportion of any untt owner's i�terest to that of aii unit :
<br /> . ., � ��. owners is detemnined by dividing the fair market value�of that unit •
<br /> � , � 17 '
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