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200506707 DECLARATION OF CONDOMINIUM AND CREATION OF UNIT OWNERS ASSOCIATION FOR ISLAND WEST PLAZA CONDOMINIUM PROPERTY REGIME THIS DECLARATION is made on the date hereinafter set forth by Northwest Crossings, L.L.C., a Nebraska Limited Liability Company, hereinafter referred to as "Declarant ". WHEREAS, the Declarant is the owner of the real property situated in Hall County, Nebraska, which is described as Lots One (1) through Three (3), Setag Subdivision to the City of Grand Island, Hall County, Nebraska, together with all buildings and improvements located thereon. WHEREAS, Declarant seeks to submit the property described in the foregoing paragraph to the condominium form of ownership in the manner provided by the Nebraska Condominium Act, Neb. Rev. 51at., Sections 76 -825 to 76 -894 (Reissue 2003), hereinafter referred to as the "Condominium Act ". NOW, THEREFORE, pursuant to the provisions of the Condominium Act, Declarant hereby submits the land described above, together with all buildings, improvements and other permanent fixtures of whatsoever kind therein, and all rights and privileges belonging or pertaining thereto, to the condominium form of ownership to be known as Island West Plaza Condominium. Property Regime, and hereby declares that the condominium shall be subject to these covenants and conditions and shall be held, conveyed, mortgaged, encumbered, leased, rented, occupied, improved and used subject to covenants, conditions, easements and restrictions contained in this Declaration. The restrictions set forth in this Declaration shall run with the condominium, shall be binding upon all persons having or acquiring any right, title or interest in the condominium, or any part thereof, shall inure to the benefit of every portion of the condominium, and any interest therein, shall inure to the benefit of and be binding upon any successor in interest of Declarant and of each owner and may be enforced by Declarant, by any owner or their successors in interest or by the Unit Owners Association. ARTICLE I. DEFINITIONS 1.1 Each definition of all of the terms defined in Neb. Rev. tat., Section 76 -827 (Reissue 2003) shall apply and are hereby incorporated herein by this reference as part of this Declaration. 1.2 "Association" or "Unit Owners' Association" means the Island West Plaza Condominiums Unit Owners' Association. 1.3 "Declarant" means Northwest Crossings, L.I. -C., a Nebraska Limited Liability Company.