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<br /> EXHIBIT "B" ,
<br /> , BY-LAWS OF .
<br /> _ RIVERDALE HAMLET GONDOMINIUM �
<br /> PROPERTY REGIME '
<br /> . AND :
<br /> RIVERDALE HAMLET ASSOCIATION, INC. �
<br /> ARTICLE I. BY-LAWS
<br /> Section 1, Description. ,
<br /> These are the By-Laws of The Riverdale Hamlet Association, Inc. ,
<br /> a Nebraska non-profit corporation with its registered offices at Post Office
<br /> Box 1768, Grand Island, Nebraska. These, are also the By-Laws of Riverdale
<br /> Hamlet Condominium Property Regime, a Nebraska condominium property regime.
<br /> Section 2. Seal.
<br /> The corporate seal shall bear the name of the corporation and the
<br /> words "Grand Island, Nebraska, Corporate Seal."
<br /> Section 3. Membership.
<br /> This corporation has been organized to provide a means of
<br /> - management for Riverdale Hamlet Condominium, a Nebras.ka. condominium property
<br /> regime in Hall County, Nebraska, Membership in the Association is automatically
<br /> granted and restricted to record owners of units in said Condominium Regime.
<br /> The votes on behalf of a unit shall be in person by the record owner thereof,
<br /> or by proxy, but if a unit is owned by more than one person or by a
<br /> corporation or other entity, such vote shall be cast, or proxy executed, by 'the
<br /> person named in a certificate signed by all of the owners of the unit and
<br /> filed with the Secretary of the Association. Title to units may be taken in
<br /> ' the name ?.of an individual or in the names of two or more persons, as tenants
<br /> � in common or as joint tenants or as tenants by the entirety, or in the name
<br /> of a corporation or partnership, or in the name of a fiduciary:
<br /> Section 4. Involved Pro�erty.
<br /> 'The property described in Paragraph II of the .Master Deed as
<br /> located in Hall County, Nebraska, has been submitted to the provisions of
<br /> Sections 76-801 through 76-823, Reissue, Revised Statutes of Nebraska, known
<br /> as. the "Condominium Property Act" by the Master Deed recorded simultaneously
<br /> herewith in the office of the Register of Deeds of Hall County, Nebraska, and
<br /> which condominium shall hereinafter be 'referred to as the "Condominium".
<br /> Section 5. Application.
<br /> All present and future owners, mortgagees, lessees and occupants. of
<br /> condominium units and their employees, and any other persons who may use the
<br /> facilities of the Regime in any manner are subject to these By.-Laws, the '
<br /> Master Deed and the Rules and Regulations, '
<br /> . The acceptance of a deed or conveyance or the entering into of a .
<br /> lease or the act of .occupancy of a condominium unit shall constitute an
<br /> agreement that these By-Laws, the Rules and Regulations, and the provisions
<br /> of the Master Deed, as they may be amended f'rom time to time, are accepted, , ,
<br /> ratified, and will be complied with.
<br /> ARTICLE :II. UNIT OWNERS.
<br /> Section 1. Annual Members' Meetings.
<br /> Upon May 31, 1975 or upon the closing of the sale of the twelfth (12th)
<br /> unit, or as soon as the Developer, West T'hird Development Company shall
<br /> relinquish control of the Board of Administrators, iahichever shall first occur,
<br /> the first 'annual meeting of the Association unit owners shall be held.
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