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KNOW ALL MEN BY THESE PRESENTS:
<br />WHEREAS, Arlington Investments, Inc., a Nebraska Corporation ( "Arlington "), is the
<br />owner of the real property described as:
<br />Lots 1, 2, 3, 4 and 5 in Richmond Third Subdivision in the City of Grand Island, Hall County
<br />Nebraska; and
<br />WHEREAS, it is the intention of Arlington that Richmond Third Subdivision be an
<br />exclusive commercial development and, therefore, the following the restrictive covenants have
<br />been set forth to further protect and provide for those investing in and building in the subdivision;
<br />and
<br />WHEREAS, Arlington desires to provide and maintain a uniform set of rules, regulations
<br />and restrictions concerning the construction, design and use of any structures on the Property,
<br />NOW THEREFORE, Arlington declares that the provisions of this Declaration of
<br />Restrictive Covenants shall run with and bind the Property and shall be binding upon Arlington and
<br />all persons and entities claiming an interest in any part or all of such Property.
<br />1. Definitions.
<br />(a) "Property" as used herein shall mean the property described as Richmond Third
<br />Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />(b) "Lot(s)" as used herein shall mean all lots included in Richmond Third Subdivision as
<br />described in preceding Paragraph 1(a) consisting of Lots 1,2,3,4 and 5.
<br />(c) "Covenants" as used herein shall refer to this Declaration of Restrictive Covenants as
<br />may be modified or amended from time to time as provided herein.
<br />(d) "Owner" shall mean the record owner, whether one or more persons or entities of the
<br />fee simple title to a lot, but excluding those having such interest merely as security for the
<br />performance of an obligation.
<br />(e) "Committee" shall mean the Architectural Review Committee.
<br />2. Enforcement. So long as Arlington owns any Lot or Lots, Arlington shall enforce the
<br />Covenants established upon the Property. At such time as Arlington owns no Lot or Lots, the
<br />Owners of the Lots shall form an owners association as a Nebraska nonprofit corporation for the
<br />purpose of enforcing the Covenants. Each Owner shall be entitled to one vote for each Lot owned.
<br />In the event more than one person or entity is the Owner of any Lot, all of such persons- entities
<br />shall be members and the vote for such Lot shall be exercised among themselves, as they may
<br />determine, but in no event shall more than one vote be cast with respect to any such Lot. Arlington
<br />shall appoint three of its members to the Committee for the purpose of reviewing plans as set
<br />forth herein and compliance with the Covenants so long as Arlington is enforcing the Covenants.
<br />Thereafter, the owners association shall assume responsibility for approval of plans through its
<br />appointment of members to the Committee and for the enforcement of the Covenants.
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<br />DECLARATION OF RESTRICTIVE COVENANTS
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />WHEREAS, Arlington Investments, Inc., a Nebraska Corporation ( "Arlington "), is the
<br />owner of the real property described as:
<br />Lots 1, 2, 3, 4 and 5 in Richmond Third Subdivision in the City of Grand Island, Hall County
<br />Nebraska; and
<br />WHEREAS, it is the intention of Arlington that Richmond Third Subdivision be an
<br />exclusive commercial development and, therefore, the following the restrictive covenants have
<br />been set forth to further protect and provide for those investing in and building in the subdivision;
<br />and
<br />WHEREAS, Arlington desires to provide and maintain a uniform set of rules, regulations
<br />and restrictions concerning the construction, design and use of any structures on the Property,
<br />NOW THEREFORE, Arlington declares that the provisions of this Declaration of
<br />Restrictive Covenants shall run with and bind the Property and shall be binding upon Arlington and
<br />all persons and entities claiming an interest in any part or all of such Property.
<br />1. Definitions.
<br />(a) "Property" as used herein shall mean the property described as Richmond Third
<br />Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />(b) "Lot(s)" as used herein shall mean all lots included in Richmond Third Subdivision as
<br />described in preceding Paragraph 1(a) consisting of Lots 1,2,3,4 and 5.
<br />(c) "Covenants" as used herein shall refer to this Declaration of Restrictive Covenants as
<br />may be modified or amended from time to time as provided herein.
<br />(d) "Owner" shall mean the record owner, whether one or more persons or entities of the
<br />fee simple title to a lot, but excluding those having such interest merely as security for the
<br />performance of an obligation.
<br />(e) "Committee" shall mean the Architectural Review Committee.
<br />2. Enforcement. So long as Arlington owns any Lot or Lots, Arlington shall enforce the
<br />Covenants established upon the Property. At such time as Arlington owns no Lot or Lots, the
<br />Owners of the Lots shall form an owners association as a Nebraska nonprofit corporation for the
<br />purpose of enforcing the Covenants. Each Owner shall be entitled to one vote for each Lot owned.
<br />In the event more than one person or entity is the Owner of any Lot, all of such persons- entities
<br />shall be members and the vote for such Lot shall be exercised among themselves, as they may
<br />determine, but in no event shall more than one vote be cast with respect to any such Lot. Arlington
<br />shall appoint three of its members to the Committee for the purpose of reviewing plans as set
<br />forth herein and compliance with the Covenants so long as Arlington is enforcing the Covenants.
<br />Thereafter, the owners association shall assume responsibility for approval of plans through its
<br />appointment of members to the Committee and for the enforcement of the Covenants.
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