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<br /> _:,°�., •<<:.:�„ l, Faa�ea�tin n���.areciati�t�_ Th8��1fIIC$ ACies WeSt HatIIeQwliCYS ASSOC�BYtOII _ - -
<br /> .;-:. � °, charged witb the duties and imrest�with the :`� �
<br /> � s�hall be a non pYOfit Ptebraska Corporatioa
<br /> ��'�`=�-"y .`��`"` powers p r e s c r�e d b y Iaw and set ford� in tiie Articles, B3±laws� and tbis Declatati,en. _
<br /> ` E t �- � Neither the Artectes, nor ti�e Bytaws sban, for au9 reasa4 be �riendect ar oth�'wise ;1
<br /> �2 n' . .
<br /> "4 .,f:.
<br /> .`<�: �,_��. c,�ged or i�erpreted so as to be inconsistent with tbis Dedaraxioyn. It sha�I be the -
<br /> . 4 respons�°b�ity of the corporation w enforce sIl of the covenantss r�ictions aad coaditions , -
<br /> :� � co�a�ia this A�e�r. �:
<br /> �..�. .t.,
<br /> � � .; . • . e .,:-
<br /> :,�,,.��:�;�; . . -�_�" 2. �Toting i���e�sh� The 1�mick Acres WESt Ho.meowtters Assoc�tton sball , .. _R..�.
<br /> ,,r,�:„Y ' .��' hav�two(2)class�s of voting memberslups: , " . - --
<br /> y 2 r.• �''�>�; . . - � - —
<br /> � ' `i3..'f'%.. -
<br /> .�k��:t�• '.r5�3'- . ' LL �Ql!]ai�6i l I
<br /> :� f-;- . � One 1 share of Class A veting inembership si�il be issugd for _ —
<br /> - �r'
<br /> ' � . each of lots one (1) thmugia fifty-mne (59). Each holder of Clasa A voting -
<br />_ �"�F � , mem6ershig is eatitted ta one(1)vote far e�ach a?aare so issued. No abares shatl be ��_
<br /> ' � issued fot the Outtats,or LoYS sixty(60)through seveaty-one(71)uat�such time �,.- -
<br /> _ -'=.�`":�=� they may be o�ered for sals aad sold as residential lats pursusnt to Articte II, � - Y-_
<br /> ... : P�P�#1: > � � :._._.
<br /> � :..": '." �: :�'��: B. �es.�. Class B voting membership shares sf�all be issued to � R. . ---_---
<br /> -- . � �� � � Amick eud Renee J. Asnick, husbaad and wife, and L�1ian R Amick, a singte .
<br />-� `' .� � persun, their successors and assi�s, for each lot one �1) througb seven�yone
<br />_ �'° `:. :� (71). Declar�n4s or th�ir successors aad assigas�tiall be enti�ted to tara(2)votes =-
<br /> ;-.-,r:._..;_.._: ---
<br /> - for each share owsied. Remainiag Ctass B voting membershig sbares shaU convert . . _--_
<br />- �.. .� .�, . ;;��';��.� w Ctass A shares whea the total voteg of the outstaading�Ctass A mem6ership �� .
<br /> _ , � . � equals or is greater than the total votes of outstandin�Class lB membershi share� ; ��°�-
<br /> P �-_.�__-:
<br /> � . . or thiriy(25)Years from October 15,1997,which is the year 2022: --.._
<br /> ' . . ' 3. Trensfez���ss A i7oting Memi�emst��• Upon the purchase of a�lot witbin
<br /> •.�,
<br /> � � . . I; the Amick Acres West Subdivisioq Declarants,theu successors and ass�gns shall transfer � �:
<br /> :i ona share of Class A votin� membership in the Association to said pi�chaser•and sbaU �`'�=�:.
<br /> �-��.i? sarrender one sriare of Class B voting members in the Associatian,which sbare shall c,ease . . �:_':-
<br /> � � .;� to exist_ The share of C9ass A membersh�p sha[!nui with the land an�automaoically be � � -
<br />- � � � . �` �` transferred to su y new���ner upan the sate or��:ez transfer of a�y lot or bIock in the ��;;=„
<br /> '.�: Amick Acres West Subdivision. ( �-�
<br /> � . ..�:. '� 4. ]�oacd�f Di.9ecters/Annnr�l Aac�,asaeent. A Board of Directots con�sisdng of not . �
<br /> ,� " tess t�an three(3)members shall be established. 'H'fi.�Board of Dlrectors may recomTaend :
<br />- � � � to the membership of the Association an increase i�the nwnber of Directors. How�ver, -�
<br /> �"; '...• :�..��" ..'� such mimber shall not exceed seven.
<br />:.�� . . _
<br />_-__, � • ,.;..,,- . . One seat on the Haard of Directors aith voting righta sh�i1 be reserrred for the �.
<br /> '..��:� .-. Declarants,theit heirs,or their designate as long as any of the Declarants or their heirs are
<br />-_�'.�. �. . � living,or until such time they may waive their right to a seat on the Board. �
<br /> " . � The �oard of Directors shall conVol, by majority vote, the management and . �
<br /> ' ' . operation of the Assoeiation, including�annual assessments. The Hoard, in its sale and :
<br />-"' ' � absolute discretion,may fx the amount ofthe annaial assessment as.follows: ;
<br />:.�F�.-' � .
<br />,S'i:. ., - . .. . ��-2� - ..
<br /> � . . �:�� A. As long as Class B membership shares exist,the Board of Directors may �� �
<br /> � . . :. ..� . levy an annual assessmem. At such time that Class A membership shares exceed . . .
<br /> � Class�shares,tiie Hoard of Directors may levy an annual assessment pursuant to .
<br /> � � . � � tice approval of a majority►of the membership of the Assvciation preserit or voting
<br /> � � � by proxy at an annual meeting calted for such purpose. �
<br />-:' � " �. � � B. From and after January 1 of the year immedistely following the point at
<br /> . . . .
<br /> , which all class B membership shares shail cease to exist, the maximum annuai .
<br />- • � ; assessment nagy be increased each yearin an amount not to exceed ten percent .
<br /> ' . . (l0%)above the maximwn assessment for the previous year. � .
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