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<br />DECLARATION OF OLD WALNUT
<br />A Condominium
<br />•. This Declaration made this day of December, 2003, by Ward F. Hoppe, Manager of Walnut
<br />Redevelopment, LLC, as general partner of Walnut Housing, Ltd., Grantor, herein after called the ( "Declarant "), for
<br />itself, its successors, grantees and assigns.
<br />WITNESSETH:
<br />1. Declaration ofPurpose. The purpose ofthis Declaration is to submit the land herein described together
<br />with all easements, rights and appurtenances, and improvements thereon, ( "Property") to the condominium form of
<br />ownership and use in the manner established by Sections 76 -825 to 76 -894 Neb. Rev. Stat. ( "Nebraska Condominium
<br />Act ").
<br />2. Property Submitted.
<br />A. The real estate owned by said Grantor which is hereby submitted to the Condominium is described as
<br />follows:
<br />Old Walnut School and attached parking, with the following description: Lot one (1), Block eight (8), Rollins
<br />Addition to the City of Grand Island, Nebraska All that part of Clebum Street lying between the north line of Fifth Street
<br />and the south line of Sixth Street lot ten (10), Block eight (8), Rollins Addition to the City of Grand Island, Nebraska
<br />Fractional Lot ten (10), in Fractional Block eight (8) in Rollings Addition Lot three (3), block thirteen (13), original town
<br />of Grand Island, Nebraska, and its completment Fractional Lot four (4), Fractional Block seven (7), Rollins Addition
<br />to the City of Grand Island, Nebraska Lots one (1), five (5) six (6), seven (7), and eight (8), Block thirteen (13), original
<br />town, now City, of Grand island, Nebraska.
<br />B. The improvements which are hereby submitted include the "Walnut School" on the real estate
<br />described in paragraph (A) above as partially reconstructed into the units, together with the parking lot and landscaping
<br />as partially completed upon the land described in (A) above and all improvements, additions, refinements and
<br />renovations to such real estate pursuant to the renovation plans for the property attached hereto.
<br />3. Definitions. The terms used herein and in the Articles and By -laws, shall have the meanings stated
<br />in the Nebraska Condominium Act, as amended, unless otherwise defined or unless the context otherwise requires. The
<br />following terms used in this Declaration and in the By -laws of the Association shall have the following meanings:
<br />(1) Old Walnut, a Condominium, shall mean this project whereby 10 condominium property Units are
<br />created (hereinafter called Units) and one or more of such Units may be separately offered or
<br />proposed to be offered for sale.
<br />(2) Declarant, Developer, or Grantor, shall all mean Walnut Housing, Ltd. through Walnut
<br />Redevelopment, LLC, its general partner.
<br />(3) Association or Unit Owners Association shall mean the Old Walnut Owners' Association
<br />( "Association ").
<br />(4) Allocated interests or allocated share shall be the interest set forth in Exhibit "A" attached hereto for
<br />each Unit under separate identifying letter.
<br />(5) A majority of Unit Owners shall mean the owners of more than 50% of the allocated interests of the
<br />Property as a whole defined in Exhibit "A ".
<br />(6) By -laws means the By -laws of the Old Walnut Owners' Association as amended from time to time.
<br />(7) Common elements, general and limited, means all parts of the Property set forth in 2(A) and 2(B)
<br />above other than the Auditorium, the dwelling apartments, and the offices as more fully set forth in
<br />paragraph 4 of and exhibit A to this Declaration. All hallway, entries, stairways and areas designed
<br />for continuous public access shall be common or limited common elements. Limited common
<br />elements service or benefit some but not all the units.
<br />(8) Nebraska Condominium Act means Neb. Rev. Stat. Sections 76 -825 et. seq. (Reissue 1996, 2002
<br />Cum. Supp.)
<br />(9) Voting member shall mean a Unit Owner or the designee of a Unit not individually owned, each
<br />representing a Unit who shall have voting privileges on Association matters as defined herein and in
<br />the By -laws.
<br />(10) Declaration shall mean the deed establishing Old Walnut, a Condominium, together with all exhibits
<br />hereto and all amendments and supplements.
<br />(11) Property shall mean and include the land whether leased or owned, all improvements and structures
<br />thereon, and all easements, rights and appurtenances belonging thereto or any of them alone.
<br />O.\Personal\FRED \Walnut \Old Walnut Condo \C - Declaration- OldWalnut.wpd
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