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201807442 which the Association has a leasehold interest, for as long as the Association is the owner of the fee or leasehold interest, intended for common benefit and use of its Members. Common Area shall not include any Lot that the Association acquires by foreclosure of the Assessment Lien or deed in lieu of foreclosure. 1.15 "Common Expenses" means the actual and estimated expenses incurred or anticipated to be incurred by or on behalf of the Association, including any allocations to reserves determined by the Board to be necessary and appropriate, and all other financial liabilities of the Association. 1.16 "Community Documents" means, collectively, this Declaration, the Articles, the By- laws, the Association Rules, and the Design Guidelines, all as amended from time to time. 1.17 "County" means Hall County, Nebraska. 1.18 "Declarant" means The Guarantee Group L.L.C., a Nebraska Limited Liability Company, and any person to whom it may expressly assign any or all of its rights under this Declaration by a Recorded instrument. A person or entity shall be deemed to be a "successor and assign" of Declarant if such person or entity is specifically so designated in a duly -recorded instrument and only as to the particular rights or interests of Declarant under this Declaration that are specifically designated in the Recorded instrument. A successor or assign of Declarant shall have the right to assign to another person or entity all or any portion of the rights or interests assigned to it in accordance with the foregoing by means of a duly -recorded instrument specifying the rights and interests so assigned, except to the extent that the assignment from Declarant prohibits or limits such right. 1.19 "Declarant Control Period" means the period commencing upon the Recording of this Declaration and ending on the date that the Class B membership in the Association terminates pursuant to Section 7.13. 1.20 "Declaration" means this Declaration of Covenants, Conditions, Restrictions, and Design Guidelines for Copper Creek Estates Subdivision. 1.21 "Design Guidelines" means the procedures, standards, and guidelines adopted by the Design Review Committee pursuant to Article 3, as amended or supplemented from time to time. 1.22 "Design Review Committee" means the committee created pursuant to Article 3. 1.23 "Designated Builder" means any Builder that is designated by the Declarant as a "Designated Builder" in a Supplemental Declaration or in a written notice given by the Declarant to the Association. 1.24 "Enforcement Assessment" means an assessment levied pursuant to Section 8.5. 1.25 "First Mortgage" means any mortgage or deed of trust on a Lot which has priority over all other mortgages and deeds of trust on the same Lot. 1.26 "First Mortgagee" means the holder or beneficiary of any First Mortgage. Page 10 of 67