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200210181
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Last modified
10/15/2011 6:18:41 AM
Creation date
10/22/2005 9:48:27 PM
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DEEDS
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200210181
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200210181 <br />releases control of the Association as set forth in (a) <br />of this Article. <br />(c) Declarant further reserves the right to add to the <br />condominium additional real estate of one or more lots, <br />being Lots Two (2) , and Three (3) , Indianhead Fourth <br />Subdivision to the City of Grand Island, Hall County, <br />Nebraska, and reserves the right to add up to four (9) <br />more units to the condominium along with additional real <br />estate. In the event that Declarant exercises this <br />right, the reallocation of common elements and expenses <br />shall be accomplished by using the formula set forth in <br />Article VII herein. <br />(d) Declarant reserves the right to use any units owned by <br />it as models. Until completion of sales by Declarant of <br />all anticipated units in the condominium, the <br />reservation of rights in this paragraph shall be <br />applicable to any real estate or units added to the <br />condominium. <br />ARTICLE VII. ALLOCATED INTEREST <br />The allocated interest in reference to the undivided interest in the <br />common elements and common expenses of the Association have been <br />established upon a formula utilizing the square footage of each unit <br />(exclusive of basements) divided by the total square footage of all units <br />(exclusive of square footage of basements). If additional units are <br />added to the condominium, the same formula as herein set forth shall <br />govern the allocated interests after an addition in reference to the <br />undivided interests in the common elements and common expenses of the <br />Association. Each unit is entitled to one (1) vote per unit and this <br />formula shall also govern in the event that additional units are added <br />to this condominium. The allocated interests are as follows: <br />Percentage of Expense in and <br />Rights in Common Elements Votes <br />15.91', 1 <br />15.92% 1 <br />15.70°. 1 <br />15.96', 1 <br />18.18° 1 <br />18.330 1 <br />ARTICLE VIII. COVENANTS, CONDITIONS, AND RESTRICTIONS <br />The following covenants, conditions, and restrictions relating to <br />this condominium shall run with the land and shall be binding upon all <br />grantees, devisees, mortgagees, and any other persons who use the <br />property, including the persons who acquire the interest of the owner <br />through foreclosure, enforcement of any lien or otherwise: <br />(a) The Indianhead Condominium Unit Owners Association, <br />Inc., a Nebraska non - profit corporation, has been <br />organized and incorporated to provide a vehicle for the <br />management of the condominium that is created in <br />Indianhead Subdivision including any additions of real . <br />estate and any units. Each owner of a unit in the <br />condominium shall automatically be deemed a member of <br />the Association. The By -Laws of said Association are <br />also the By -Laws of this condominium property and are <br />attached hereto as Exhibit "D ". As units are added to <br />the condominium, the expenses of the Association shall <br />3 <br />Square <br />Foot Area <br />(Excluding <br />Basement) <br />Unit <br />1 <br />1,931.89 <br />sq. <br />ft. <br />Unit <br />2 <br />1,933.09 <br />sq. <br />ft <br />Unit <br />7 <br />1,906.27 <br />sq. <br />ft. <br />Unit <br />8 <br />1,938.31 <br />sq. <br />ft. <br />Unit <br />9 <br />2,208.15 <br />sq. <br />ft. <br />Unit <br />10 <br />2,226.52 <br />sq. <br />ft. <br />Percentage of Expense in and <br />Rights in Common Elements Votes <br />15.91', 1 <br />15.92% 1 <br />15.70°. 1 <br />15.96', 1 <br />18.18° 1 <br />18.330 1 <br />ARTICLE VIII. COVENANTS, CONDITIONS, AND RESTRICTIONS <br />The following covenants, conditions, and restrictions relating to <br />this condominium shall run with the land and shall be binding upon all <br />grantees, devisees, mortgagees, and any other persons who use the <br />property, including the persons who acquire the interest of the owner <br />through foreclosure, enforcement of any lien or otherwise: <br />(a) The Indianhead Condominium Unit Owners Association, <br />Inc., a Nebraska non - profit corporation, has been <br />organized and incorporated to provide a vehicle for the <br />management of the condominium that is created in <br />Indianhead Subdivision including any additions of real . <br />estate and any units. Each owner of a unit in the <br />condominium shall automatically be deemed a member of <br />the Association. The By -Laws of said Association are <br />also the By -Laws of this condominium property and are <br />attached hereto as Exhibit "D ". As units are added to <br />the condominium, the expenses of the Association shall <br />3 <br />
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