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200506707
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Last modified
10/17/2011 9:35:04 AM
Creation date
10/28/2005 11:28:17 AM
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DEEDS
Inst Number
200506707
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200506707 <br />the membership of corporation, partnership or association in the Association. The person <br />so designated shall be the only person who shall be entitled to cast the vote for the units <br />owned by such corporation, partnership or association. if the corporation, partnership or <br />association fails to designate the person who shall have the right to vote the membership <br />of the corporation, partnership or association, then such corporation, partnership or <br />association shall lose its right to vote, and it shall not be considered as a member for the <br />purpose of determining the requirement for quorum or any other purpose requiring the <br />approval of a person entitled to cast the vote for the unit owned by such corporation, <br />partnership or association until a person who shall have the right to vote the membership <br />is appointed. <br />7.4 Suspension of Voting Rights. In the event any owner of a unit is in arrears in <br />the payment of any assessment or other amounts due under the terms of this Declaration <br />and the By -Laws for a period of fifteen (15) days, said owner's right to vote as a member <br />of the Association shall be automatically suspended and shall remain suspended until all <br />payments, including accrued interest and attorneys fees, are brought current. Automatic <br />suspension also is imposed for a unit owner's infraction of this Declaration or the By- <br />Laws, for a period not to exceed sixty (60) days. <br />7.5 Transfer of Membership. The Association membership of each owner of a <br />unit shall be appurtenant to such unit. The rights and obligations of an owner and <br />membership in the Association shall riot be assigned, transferred, pledged, conveyed or <br />alienated in any way except upon transfer or ownership of such unit, or by intestate <br />succession, testamentary disposition, foreclosure of a mortgage of record, exercise of <br />power of sale under a Deed of Trust, or such other legal process as in effect or as may <br />hereafter be established under or pursuant to the laws of the State of Nebraska. Any <br />attempt to make a prohibited transfer shall be void and shall not be reflected upon the <br />books and records of the Association. Any transfer of ownership to said unit shall <br />operate to transfer said membership to the new owner thereof. <br />ARTICLE VIII. <br />ALLOCATION OF COMMON ELEMENT INTEREST <br />AND COMMON EXPENSE LIABILITIES <br />Each unit is allocated that percentage of undivided interest in common elements <br />and in the common expenses of the Association as the area in each such unit bears to the <br />total area of all of the units. <br />ARTICLE IX. <br />ASSESSMENTS FOR COMMON EXPENSES <br />9.0 Payments of Expenses Prior to Assessments. Until the Association makes a <br />common expense assessment, the Declarant shall pay all common expenses. After any <br />-- 12- <br />
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