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202500670
<br />v) "Person" means a natural person, corporation, trust, estate, limited liability
<br />company, limited partnership, general partnership, association, joint
<br />venture, or other entity, or any combination thereof.
<br />w) "Plat" and "Plans" means the plat or plans prepared in accordance with §76-
<br />846 of the Act and recorded in the records of the Register of Deeds of Hall
<br />County, Nebraska, attached to this Declaration.
<br />x) "Property" means all of the real property described in Recital "A" above
<br />and such additional property as may be added to the Condominium as set
<br />forth hereafter.
<br />y) "Purchaser" means any Person, other than the Declarant, who, by means of
<br />a voluntary transfer, acquires ownership of a Unit.
<br />z) "Rules and Regulations" means any instruments, however denominated,
<br />which are adopted by the Association for the regulation and management of
<br />the Condominium, including any amendments to thereto.
<br />aa) "Security Interest' means an interest in a Unit or personal property, created
<br />by contract or conveyance which secures payment or performance of an
<br />obligation. The term includes a lien created by a mortgage, deed of trust,
<br />contract for deed, land sales contract, lease intended as security assignment
<br />of lease or rents intended as security, and any other consensual lien or title
<br />retention contract intended as security for an obligation. "First Security
<br />Interest' means a Security Interest in a Unit prior to all other Security
<br />Interests except the Security Interest for real property taxes and assessments
<br />made by Hall County Nebraska, or other governmental authority having
<br />jurisdiction over the Condominium.
<br />bb) "Special Assessment" means the special assessments for Capital
<br />Improvements and other items which are described in Article 8, Paragraph
<br />5 of this Declaration.
<br />cc) "Unit" means the physical portion of the Condominium designated for
<br />separate ownership occupancy, the boundaries of which are described in or
<br />determined from this Declaration, and shown on the attached Plat or Plans.
<br />A Unit includes all airspace, all interior partitions, walls, floors and ceilings.
<br />All wallboard, plasterboard, plaster, drywall, paneling, tiles, wallpaper,
<br />paint, finished flooring and any other materials constituting any part of the
<br />finished surfaces are a part of the Unit. The heating, water and electrical
<br />units exclusively serving only the Unit (whether or not located within the
<br />boundaries of the Unit), are part of the Unit. The boundaries and Identifying
<br />Number of each Unit created by the Declaration are set forth on the Plat or
<br />Plans of the Property. All Units shall be used exclusively for commercial or
<br />residential purposes.
<br />dd) "Unit Owner" means the Person who owns a Unit but does not include a
<br />Person having solely a Security Interest in a Unit. The Declarant is the Unit
<br />Owner of any Unit created in this Declaration until that Unit is conveyed to
<br />another Person.
<br />ARTICLE 3
<br />CONDOMINIUM DESCRIPTION
<br />1) Description of Condominium Units. The Condominium initially consists of three
<br />(3) Units, identified as provided in this Declaration and the attached Plat. Every
<br />contract, deed, lease, Security Interest, trust deed, mortgage, or other instrument
<br />shall legally describe a Unit as follows:
<br />Unit Number , PRAIRIE DISTRICT
<br />CONDOMINIUM PROPERTY REGIME, in the City of
<br />Grand Island, Hall County, Nebraska.
<br />3
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