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All of which are hereafter referred to as the "Real Estate; and
<br />3
<br />2004800
<br />Lots 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17A, 17B, 18A, 18B,19A,19B,20A,20B,21A,21B,22A
<br />and 22B all in Block 1, Blocks 3,4 and 5 and Out Lots A,B,C- 1,C- 2,C -3,C -4 and C -5 all in
<br />PONDEROSA LAKE ESTATE SUBDIVISION; Lot 1 PONDEROSA LAKE ESTATES
<br />SECOND SUBDIVISION; Lots 1,2,3,4,5, 6,7,8,9,10,11,12,13,14,15,16,17 and 18 all in Block 1,
<br />Lots 1,2,3,4,5,6,7,8,9 and 10 all in Block 2, and Out Lots A and B all in PONDEROSA LAKE
<br />ESTATES THIRD SUBDIVISION; Lots 1,2,3,4,5,6,7,8,9 and 10 all in Block 1, Lots 1,2,3,4 and
<br />5 all in Block 2, Lots 1,2,3,4,5,6,7 and 8 all in Block 3 and Out Lots A,B,C- l,C -2,C -3 and C -4
<br />all in PONDEROSA LAKE ESTATES FOURTH SUBDIVISION; Lots 1,2,3 and 4 all in Block
<br />1, Lots 1,2,3,4,5,6,7,8 and 9 all in Block 2 and Out Lots A,B,C -1,C -2 and C -3 all in
<br />PONDEROSA LAKE ESTATES FIFTH SUBDIVISION; and Lots 1 and 2 PONDEROSA
<br />LAKE ESTATES SIXTH SUBDIVISION,
<br />WHEREAS, each of the Prior Covenants permit amendment thereto upon approval by at
<br />least seventy (70 %) of the Class A Members in each of said Subdivisions (as there are no
<br />existing Class B Members); and
<br />WHEREAS, at least seventy percent (70 %) of the Class A Members as hereafter defined
<br />have executed these Ponderosa Lake Estates Restated Restrictive Covenants and Conditions,
<br />Grand Island, Nebraska (the "Covenants ") for the purpose of rescinding the Prior Covenants
<br />which are replaced by these Covenants upon the Real Estate.
<br />NOW, THEREFORE, the undersigned Class A Members and owners hereby adopt the
<br />Covenants in replacement and substitution of the Prior Covenants for the Real Estate and declare
<br />that the Lots in the Real Estate shall be held, sold and conveyed subject to the Covenants which
<br />are for the purpose of protecting the value and desirability of each of the Lots in the Real Estate
<br />and which shall run with the land and be binding on all parties having any right, title or interest
<br />in any one of the Lots, their heirs, successors and assigns.
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