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<br /> bin�linq uporr ail o�mers. Any �a].an ao adoptecl mu�t anbaequently be � �� -
<br /> �pproved in writing by �he f�rat mar�gagaa oP r�cord aa oP �ha d�Co -- -
<br /> , oP adapti�n of tha plan. ��.:��c:; =-! �
<br />. �� � �ection �l. Plan of ,��gpair ansi RaconetrLQti�n--D ma �r ' y°�-'
<br />- gaetruation. In tho ev�nt fi�at a plan o� repair and xeaonstrua�ion ., �� " �
<br /> " . ie adopted lay �he awners and subaequently a�proveci by the firat
<br /> mortgagees, �s above set forth, the Hoard of Adminiatrators ehall '' � �
<br /> forthwith proaaed to repair and reaonstruct the iaprovemente ae set
<br /> forth in Seati�n 2 oP Artiale X.
<br /> '� S�otion 5. �,�n Qf Sale--Damag� of oestxuatien. In the even� , ,,�'
<br /> that a plan of aale is adopted by the owners and subsequent1 � ��,
<br /> approvRa by the firat mortgageeR, as above aet forth, or in Y,he �
<br /> � event that a plan of repair and reconetruation is adopt�d by the �`� `'`
<br /> owners but is not adopted by the required number of firat �`�
<br /> mortgaqees of reaord within 60 days �rom the adoption of tha plan, ��� J.
<br /> then the Boarct of Adtniniatrators shall forthwith reaord a notice (, ,� °�.
<br /> " aetting fe�rth auch faat ox facts, anc� upon tha recording of suah ;r �: �-���
<br /> „ notiae with the Office of the Regieter of Deeds og Hall Coun�y, _
<br /> Nebraska, by the Associatian•s President and searetary or Asaistant ` ,�:� �...
<br /> Searetary, the entiro remaiaing premises shall be offered for sale � ,,
<br /> �• aad sold by t_'�e Assoaiation pursuant to the proviaions og this � .
<br /> Ar�ticle, as a�torney-ia-faa� for all of tho owne�s, free and alear �
<br /> � of t.tie pr.ovisions contained in ttie Master veed, �t�e Artialea of ` .�
<br /> � Tnaorporation and these Sy-Laws. The ineurance sQttlement proaeeds '������
<br /> shall be colleated b the Assoc:lation and such �'"ID``
<br /> y , proceeds shall. bs I . �� °--�—
<br /> divided by the Assoaia�ion according to Qach owner�s interest in j �..: ;�,__
<br /> __-°__-_ `u`an g�iieral ca�non eiemenis, and sucn diviaed pL'oct3ecle silall be , —
<br /> paid into separate account6, each �uch account representirag one of '�� � `' ��
<br /> " the condominium euitas. Each such account sha].1 be in the name of `�'�'� n�
<br /> � the Asaociatioai, and shall be Further �ldentified by the condominiuia � �
<br /> suite desiqnation and the names of the ownar. From each separate :` c=
<br /> acaount, the Association, as attorney-in-fact, shall forthwtth uge ,
<br /> and disburse the total amount of eaGh of suah accoun�s, without �
<br /> contribut3on Erom one account to another, toward the artial or I ` �
<br /> P �:�, '
<br /> �ull payiaent of the lien of any first mortgage againat the � ';;��
<br /> aondominium suite represented by such separate acaount. i ; �`
<br /> ° - Thereafter, each such acamunt shall be supplemented by the �
<br /> apportioned amount of the p�oceeds obtained from the sale of the � .
<br /> _ entixe �roperty and any avaalable funds of the Aasoaiatinn. Such
<br /> , apportionntent shall be based upon each condominium suite ownor�s �,.,`'4� '
<br />-� interest in tho goneral comraon elements. The total funds of eaah � , ' . a�
<br /> account shall be used and di�sburaed, withour contribution from one .
<br /> aaaount to another, by the Aseoeiation, as at�orney-in-fact, as set � j�'�.��•: :
<br /> , farth in Section 8 of Articlo X. i , .;;,, �,�
<br /> ��
<br /> Section 6, Condemna�ion. In the event oP a taking by I � � � '
<br />� aondemnation or eminent domain of all or part of �he common area, 4 .� -� '�'.r;
<br /> the award made shall be paid to the Board of Administrators. If � � , i�
<br /> � owners of �1tne suites in the Condominium Prop�rty Regime do not, • •�
<br /> wifihi.n 60 days from the datQ of the award, unanimously approv� the ; � '
<br /> use of the proceeds from the award for use in repairing, expanding y��
<br /> or restoring �ha common area, the Board of Administrators ahall
<br /> fort2awith disbursa the net pracaecls of the award for the same � _
<br /> purpose and in the samo order as i� provided in Section e of `�
<br /> . Article X.
<br /> s .
<br /> ' �ecta_on 7. �►ower o� Sale. In the event of salo o� th� entire ��',
<br /> ' Regime pur�uant to Sect�on 5 of Article X, or upon adoption of such
<br /> a plan upon tornnination of the Condominium Property Regime pursuant . ��
<br /> to section 1 of Ar�lcl� XI, or otherwiae, the ,Association shall . r; _
<br /> t1AVG A�� 1�ho r�nasorc oet Rwvi�1. i.. r..�-.5..7.. v S� ���.�S.._ '_SiL
<br /> +�� <tAr.iri0 t� ist vGnittta� �IiWl Q "T-'"J
<br /> _ .__. . ._ _—_� .
<br /> -__' ______ _ �_.._ ___ �_ r'.._�.._ ..�r. �vrw�
<br /> purchaaer or purcha�ers as attorney�in-fact. '
<br /> : _ �ection A. �lpplication o� Proceeds. Proce�ds received as set �"
<br /> . forth in the preaeding Sections and as apglscable to oach auita i
<br /> sha�ll ba used and disbursnd by the Aseociation ae attorney-in-fact, ,.j
<br /> , in the following or.der: �
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