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200506707 <br />12.4 Manger of Execution. Amendments to this Declaration required to be <br />executed by the Association shall be executed on behalf of the association by any officer <br />of the Association designated for that purpose, or, in the absence of designation, by the <br />president of the association. <br />ARTICLE XIII. <br />CONVEYANCE OR ENCUMBRANCE OF COMMON ELEMENTS <br />13.0 Conveyance or Encumbrance of Common Elements. Portions of the <br />common elements may be conveyed or subjected to a mortgage, deed of trust or security <br />interest by the Association if persons entitled to cast at least 80% of the votes in the <br />Association agree to that action in the manner prescribed in the Condominium Act, <br />except that all of the owners of units to which any limited common element is allocated <br />must agree in order to convey that limited common element or subject it to a mortgage, <br />deed of trust or security interest. Proceeds of the sale or encumbrance of the common <br />elements are an asset of the Association. <br />Contents of <br />Agreement. An agreement to convey common elements are <br />subject then to a mortgage, deed of trust or security interest shall be evidenced by the <br />execution of an agreement or ratification of the agreement in the same mailer as a deed, <br />by the requisite number of unit owners. The agreement shall specify a date after which <br />the agreement will be void unless previously recorded. The agreement and all <br />ratifications of the agreement shall be recorded in Hall County, Nebraska. <br />13.2. Contract by Association. The Association, on behalf of the unit owners, <br />may contract to convey an interest in the common elements, but the contract is not <br />enforceable against the Association until approved pursuant to Section 13.0 and 13.1. <br />Thereafter, the Association has all powers necessary and appropriate to effect the <br />conveyance or encumbrance, including the power to execute deeds or other instruments. <br />13.3 Void Transactions. Except as permitted in this Article, any proported <br />conveyance, encumbrance, judicial sale or other voluntary transfer of common elements <br />is void. <br />13.4 Rights of Access and Support. A conveyance or encumbrance of common <br />elements pursuant to this Article does not deprive any unit of its rights of access and <br />support. <br />13.5 Preexisting Encumbrances. A conveyance or encumbrance of common <br />elements pursuant to this Article does not affect the priority or validity of preexisting <br />encumbrances. <br />Mrs <br />