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i � � : _ � �� - ��, ;_.�..�.� � r � �� RIVERSIDE ESTATES OWNERS ASSOCIATION ��_U07305 BY'�WS SECTION 1: OFFICES AND GENERAL a. REGISTERED OFFICE: The registered ayent and the registered office shall be located in Hall County, Nebraska. b. OPERATZNG HEADQUARTERS: The operating headquarters and other offices may be located wherever the Board of Directors may di- rect or the affairs of the corporation may require. c. DEFINITIONS: The words and phrases used herein which are defined in that certain Declaration, dated December �3 , 1977, executed by the initial Declarant Members, shall have the same meanings as are set forth in such Declaration. SECTION 2: MEMBERS a. MEMBERSHIP CLASSES: Members shall be divided into membership classes of Declarant Members and Resident Members. b. DECLARANT MEMBERS SHALL BE AS FOLLOWS: (1) The initial Declarant Members shall be Fred M. Janisch, James Bamford, and Marlyn G. Ellermeier, or their successors and assigns. The successors and assigns of the said initial Declarant Members shall be considered Declarant Members, if but only if the initial Declarant Members shall specifically assign in writing the right of Declarant Membership to the grantee, donee, or other trans- feree, however dominated, of the said initial Declarant Members at the time of transfer of any Lot or Lots, or interest therein, to said grantee, donee or transferee. The Declarant Members as a group shall have three (3) votes for each Lot of which they are the owner, sub- ject, however, to the provisions of paragraph d of this Section 2. (2) Each membership of each Declarant Member shall appertain to, and be wholly coterminous with the duration of the equitable interest of such member as owner or contract purchaser of a resi- dential lot or a townhouse lot or dwelling unit within the limits of any real property included in membership and shall be term- inated forthwith upon the termination by death, by gift, by sale or other voluntary or involuntary transfer or by other means of such equitable interest. c. RESIDENT MEMBERS SHALL BE AS FOLLOWS: (1) Resident Members shall be and include the ck�ner of each Lot not owned by Declarant Members; provided, however, that when more than one person holds such an interest in any Lot, there shall be only one vote to be exercised in common as the said �- �.� �: I_. ' l_ _1 �� � � �