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202500658 <br />10. "Common Area" shall mean: Outlots, as platted, all additional property <br />acquired by the Association which is dedicated as common area, and all existing and future <br />improvements thereon all of which are or will be owned by the Association. The Association <br />reserves the right to acquire property consistent with these Covenants that is not dedicated as <br />Common Area. <br />11. "Declaration" means this Declaration of Covenants, Restrictions and <br />Conditions. <br />12. "Developers" shall mean Innate Development 2, LLC, a Nebraska Limited <br />Liability Company, Innate 7, LLC, a Nebraska Limited Liability Company, their successors <br />and assigns. <br />13. "Developers Control Period" means the period commencing upon recording of <br />this Declaration and ending as provided in Section Article II, Section 3. <br />14. "Lot" shall mean any lot in the Property. Each unit in a condominium regime <br />shall be treated as a Lot. <br />15. "Member" shall mean an Owner of a Lot in the Property. All Owners are Class <br />A Members. <br />16. "Prairie District Commercial Owners Association Rules and Regulations" shall <br />mean the rules and regulations of the Association. <br />17. "Outlots" refer to Outlot B, Legacy 34 Second Subdivision, Outlots A, K and <br />M, Legacy 34 Third Subdivision and Outlot L, Legacy 34 Fourth Subdivision and any <br />additional Outlots which may be added or included in Developers' discretion. <br />18. "Owner" shall mean the record owner, whether one or more persons or entities <br />of a fee simple title to any Lot and any condominium unit. <br />19. "Property" means the Property included in this Declaration and any Additional <br />Property which may be included in Developers' discretion. <br />ARTICLE II <br />COVENANTS, RESTRICTIONS AND CONDITIONS <br />In consideration of the mutual benefits to be derived by the Owners and any purchaser or <br />purchasers, their heirs, devisees, personal representatives and assigns, all of the Lots as surveyed <br />and platted and more particularly described as recorded in the office of the Register of Deeds, Hall <br />County, Nebraska, that are sold, transferred and conveyed, shall be and are subject to the following <br />protective covenants, restrictions and conditions. All covenants, restrictions and conditions shall <br />run with the land and are as follows: <br />1. Use of Lots. All Lots shall be commercial lots or residential lots. Residential <br />lots shall be limited to multi -family residential living structures and not single family <br />residential structures. Lots may be divided or split to create smaller Lots and may be <br />3 <br />