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200100366 DECLARATION This Declaration is made this &!!t*day of January, 2001 by Grand West, LLC, a Nebraska limited liability company (hereinafter referred to as "Declarant'), owner of and affecting all of the following described real estate, to -wit: Lots Nine (9) through Thirty -five (35) (both inclusive) in Grand West Subdivision to the City of Grand Island, Hall County, Nebraska. PREAMBLE All of the properties described above shall be held, sold and conveyed subject to the following easements, restrictions, covenants and conditions, all of which are for the purpose of enhancing and protecting the value, desirability and attractiveness of the real property. These easements, covenants, restrictions and conditions shall run with the real property and shall be binding upon all parties having or acquiring any right, title or interest in the above described properties or any part thereof, and shall inure to the benefit of each owner thereof. ARTICLE I DEFINITIONS Section 1. "Association" shall mean and refer to Grand West Homeowners Association, Inc., a Nebraska nonprofit corporation, its successors and assigns. Section 2. "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to all or any part, parcel or portion of a platted lot which is a part of the Properties, including contract sellers, but excluding those having such interest merely as a security for the performance of an obligation. Section 3. "Properties" shall mean and refer to that certain real property hereinbefore described, and such additions thereto as may hereafter be brought within the jurisdiction of the Association. Section 4. "Lot' shall mean any part, parcel or portion of a platted lot within the Properties upon which a dwelling unit or building is or shall be constructed as currently approved. Section 5. "Improved Lot' shall mean and refer to any lot on the Properties upon which a dwelling has been erected. Section 6. "Declarant' shall mean and refer to Grand West, LLC, a Nebraska limited liability company, and its successors and assigns, if such successors or assigns should acquire more than one undeveloped lot from the Declarant for the purposes of development.