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201309264
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Last modified
8/19/2014 2:24:44 PM
Creation date
11/25/2013 2:14:01 PM
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DEEDS
Inst Number
201309264
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restrictions set forth herein. Ownership of a Residential Lot shall be the sole <br />qualification for membership. The Association shall own fee simple title to the <br />Cul -de -sac Lots and the Detention Facility Lot and shall maintain such Lots and <br />all other portions of the Common Area in accordance with this Declaration. <br />2.2 Governance. <br />201309264 <br />a. Voting Rights. The Association shall have two classes of voting <br />members, Class A Members and Class B Members, defined as follows: <br />Class A - Class A members shall be all Owners of Residential Lots, <br />with the exception of Declarant, and shall be entitled to one (1) vote for <br />each Residential Lot owned. When more than one person holds an <br />interest in a given Residential Lot, all such persons shall be members, <br />and the votes of such Residential Lot shall be exercised as they may <br />determine among themselves; provided, however, that in no event shall <br />more than one (1) vote per Residential Lot be cast with respect to any <br />Residential Lot owned by Class A members. <br />Class B - The sole Class B member shall be Declarant, which shall <br />be entitled to exercise ten (10) votes for each Residential Lot owned. The <br />Class B membership shall cease and be converted to Class A <br />membership when the total votes outstanding in the Class A membership <br />equal the total votes outstanding in the Class B membership upon <br />expiration of the Declarant Control Period. <br />b. Quorum /Proxy. In order to ensure that a quorum is present for all <br />meetings of the members, and to allow for orderly management of the <br />Association's affairs, it shall be the duty of each member to attend such <br />meetings or execute and deliver to the Association a continuing proxy <br />prepared by the officers of the Association. This continuing proxy shall <br />operate in lieu of the actual attendance at the meeting by the specific <br />member and shall be void if the member personally attends that meeting <br />to exercise the member's right to vote. A Residential Lot Owner may <br />provide a superseding proxy to be voted by his duly authorized attorney in <br />fact for one specific meeting only. The proxy shall be subject to the terms <br />of the Nebraska Nonprofit Corporation Act concerning revocability and life <br />span of the proxy. Failure to attend personally or by proxy is a violation of <br />this covenant. <br />The continuing proxy shall be voted by the President of the Association in <br />his or her discretion at any meeting. The continuing proxy shall provide <br />on its face that it is valid on a continuous basis for an indefinite period of <br />time until revoked in writing by the specific Lot Owner. All proxies shall <br />be in writing and filed with the Secretary of the Association. Each proxy <br />shall be freely revocable and shall automatically cease when the member <br />giving the proxy shall cease to be an Owner of a Residential Lot or at <br />such earlier time as shall be specified in the proxy or by operation of law. <br />2.3 Assessments. Declarant hereby covenants for each Residential Lot, and <br />each Owner of a Residential Lot is hereby deemed to covenant by acceptance of <br />4844- 8244- 9173.2 3 <br />
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