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<br /> • _-� necJ.arant ehall reee�ve and hav� the following development �,a:...
<br /> _�•���_,�r��: .`�� righta:
<br /> -------�" ��_�
<br /> :-. _, �� -
<br /> �,,, �ri:,�,� (a.) Declarant aYia].l cantrol the Aseociat:Lon and may appoin� �
<br /> '�•�� �r .•• and remove the officers and reiembers af thc� �xecutive `,�-
<br /> _- ;•.�:..� � a.:�,
<br /> - -;��t-;;: �`����: Board of Directors until the earli.er of: �`
<br />- �; a,:�..,. . n�.:::
<br />_.:';.;'�; .;:� �.
<br /> _,- - -• - ���� . (1) Sixty (60) days af tEr. conveyance of ninety percent
<br /> :-�.�;:.z:;-:- ;�
<br />����. �;:..��„.;•"" (90�) o£ Che units which may be cr�ated to unit .., �
<br />-_=- �`•"'�''-":` � � ownere o�her thaz� the Declarant; ox :�::"�°
<br /> 14.�.1.• . �..�___
<br />�+{�i3��4...•. • � , •._i
<br /> ��� (2) Two (2) years after Declarar�t has ceased to offer ,
<br /> - ��.:�.`�;.�,�_,� .. units for �ale in the ordinascy cou�ae of buainess. �`=`:
<br /> �';?�i�,,,�;� �.��;;._
<br />—=�_rr�;,a;��:«.���� ���` ,-•-:.
<br /> -- �y .�... Not later than sixty (60) days after convsyanc� of twenty five �_:�•
<br />-'`����'�:�="`-�- percen� (25�) of the units which may be created to unit owners `"�.n-i
<br /> "�'`.r' � _� othex �han the Declarant, at least one (1) member and not lesa than --
<br /> � ' �, � twent.y five percent (250) of the memb�ra of the Executive Board of •� Y�
<br /> °-�:� �:�:�'��! Directors shall be elected exclusively by unit owners o�her than -
<br /> �j the Decllsant. Not later than aixty (60) days after conveyanc� of ;,.
<br />"�'��.,r'�y��':r�'•.-� fifty pe�-cent (50�) of ths unite which may be created to unit
<br /> -;,,;h,. `;�: � � owners ntlaer than the D�clarant, not less than thirty thxee and one n-
<br /> �. . third percent (33 1/30) of the members of the Executive Baard of ��
<br />"��-��'����..- � Directors ahall be elected exclusively by unit ownexs other than �_
<br /> � ' � the Declarant. ���
<br /> f.,, _.
<br /> - �- � � � Not later than the tennination ot tne period oi cne .:�,;
<br /> D�claran�'s control, the unit owners sYiall elect ax� Executive Board `
<br /> - � -� af at least three (3) members, at least the majority of whom must
<br /> � be unit owners. The Executive Board shall elect the officera. The °�=
<br /> ' Executive Board membErs and officer� :hall take of�ice upon �.
<br />- ,; Plection. -
<br /> - }_:,..r,,,.:.�,��: "_
<br />--�ik�Y°.:St-:-r.-. -. .'.-
<br /> (b) Declarant res�rves, without assent �f owners o� units,
<br /> �--�M�'�� the ra.ght to establish e�eements, reservations, .
<br /> �_.;,;:.�.:....� -
<br /> _ :, exceptions and exclusions consistene with the condominium
<br /> - �. <Y:' ��
<br /> _ � ownership and for the best intereats of all the owners xn :
<br />�-�'a�,��", the condominium, and to supplement or amend this Master u�
<br /> n-=��--��-�-+��- Deed and Declaration, or as amended, or the attached By- ,
<br />:�=:�°•��•�y��-•• Laws or as �mended, until Declarant releases control of -
<br /> ; ;.;� ' � the Aasociation as set Porth in (a) of this Article.
<br /> �� ,_', , • � (c) Declarant Eurther reserves the right to add to the
<br /> ;� condominium additional real estatE of one or mare lots, -
<br /> -� � being Lota One through Four and Six through Ten of
<br /> a ". � Brentwood Fourth Subdivision to the City of Grand Island, .
<br /> =�'� Hall County, Nebraslca, and reservea the right to acld up � -
<br /> .� ' ' � ta eighteen (1�) more Llnits to the condominiuin. In the
<br /> .t ' event that Declarant exercises this right, the �
<br /> reallocation of common elements and expens�s shaZl be �
<br /> accomplished by using the formula set forth in Article �
<br /> ?.� VII herein. �
<br /> � ,
<br /> ir. � (d) Declarant resezves the right to use any units owned by it i �
<br /> .J. �� I
<br /> .�, . as models. Until completion of sales by Declarant of all
<br /> T -� anticipated units in thc condominium, the reservation of I
<br /> •{ rights in tihis paragraph shall be applicable to any real
<br /> Z " � estate or units added to th� condominium.
<br /> � .,
<br /> � _ - --- -
<br /> r ° AATICLF VII. ALLOCAT�17 xTT'��RES'x' f
<br /> a. I
<br /> � �" The allocaCed interest in reference �o the undivided int�r.est ;
<br /> � ;;. � in the c�mmon eY�mer�ts and common expenaes of the Aesociation have i
<br /> � � , been established upon a formula utilizing �he square �ootage of � „
<br /> ° . each unit (exclusive of basements) divid�d by the tor.al square
<br /> faotiage af all units (exclusive of squ�re �ootag� of basements) .
<br /> � " If additional units are �dded to the condominium, the same formula
<br /> � as herein set fnrth shall govern th� allo�ated interests after an ;
<br />- addition in reference to the urtdivid�d i�zterests in t h� common ;
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