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201804258 NOW, THEREFORE, the undersigned Lot Owners hereby adopt this Declaration in replacement and substitution of the Prior Declaration which shall no longer be in effect and declare that the Lots shall be held, sold and conveyed subject to this Declaration for the purpose of protecting the value and desirability of each of the Lots in the Properties and which shall run with the land and be binding on all Owners having any right, title or interest in any one of the Lots, their heirs, successors and assigns. ARTICLE I DEFINITIONS Section 1. "Annual Assessment" shall mean the charge levied and assessed each year against each Lot and Owner. Section 2. "Architectural Committee" shall mean the committee of the Association to be created pursuant to Article V below. Section 3. "Articles" shall mean the Articles of Incorporation of the Association as the same may, from time to time, be amended or restated. Section 4. "Assessment" shall mean an Annual Assessment or special Assessment levied and assessed upon each Lot and Owner. Section 5. "Assessment Lien" shall mean the lien created and imposed by Article IV. Section 6. "Association" shall mean and refer to NOTTINGHAM ESTATES OWNERS ASSOCIATION, its successors and assigns, a Nebraska nonprofit corporation. Section 7. "Board" shall mean the Board of Directors of the Association. Section 8. "Bylaws" shall mean the Bylaws of the Association and any amendments or restatements to such bylaws. Section 9. "Common Area" shall mean all real property in the Properties, over which the Association has an easement and shall exclude the interior of all structures. all additional real estate acquired by the Association which is dedicated as common area, and all existing and future improvements thereon all of which are, or will be owned by the Association. The Association reserves the right to acquire real estate consistent with these Covenants that is not currently dedicated as Common Area. Section 10. "Dwelling" shall mean any building or portion of a building situated upon a Lot designed and intended for use and occupancy for residential purposes. Section 11. "Lot" shall mean any lot in the Properties. 3