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<br />DECLARATION
<br />
<br />88- 105085
<br />
<br />This Declaration is made by SCOTTSBLUFF SASH AND DOOR, INC.,
<br />a Nebraska Corporation, MIDLAND BUILDERS, INC., a Nebraska Corporation,
<br />STEPHENR. BELTZER, a single person, and HOME FEDERAL SAVINGS &
<br />LOAN ASSOCIATION OF GRAND ISLAND, NEBRASKA, Mortgagee, all herein
<br />collectively referred to as "Declarant".
<br />
<br />IHTNESSETH:
<br />
<br />WHEREAS, Scottsbluff Sash and Door, Inc., Midland Builders,
<br />Inc., and StephenR. Beltzer, a single person, are the owners of
<br />the following described real estate in Hall County, Nebraska,
<br />to-wit:
<br />
<br />Lots Eighteen (18) through Thirty-Seven (37)
<br />inclusive, together with additional land. surrounding
<br />said lots, all in Coach Place Subdivision, in the
<br />City of Grand Island, Nebraska, the outside boundary
<br />of the entire tract being more particularly described
<br />in attached Exhibit "A" incorporated herein by reference,
<br />and
<br />
<br />WHEREAS, Declarant is desirous of providing easements,
<br />restrictions, covenants and conditions for the use of said premises
<br />for the purpose of protecting the value and desirability of" said
<br />property;
<br />
<br />NOW, THEREFORE, Declarant hereby declares that all of the
<br />properties described above shall be held, sold and conveyed,
<br />subject to the following easements, restrictions, covenants and
<br />conditions which are for the purpose of protecting the value
<br />and desirability of, and which shall run with the real property
<br />above described as well as any other properties submitted hereto
<br />as provided herein, and shall be binding on all parties having
<br />any right, title or interest in the described properties or any
<br />part thereof, their heirs, successors, and assigns, and shall
<br />inure to the benefit of each owner thereof until ,January 1, 1999,
<br />at which time said covenants shall be automatically extended
<br />for successive periods of ten (10) years unless by written
<br />agreement of Eighty Percent (80%) of the then owners of the lots
<br />it is agreed to change said covenants in whole or in part, said
<br />agreement to be executed and recorded in the manner provided
<br />by law for conveyance of real estate.
<br />
<br />ARTICLE I.
<br />
<br />DEFINITIONS
<br />
<br />Section 1. "Associationll shall mean and refer to Fairway
<br />Meadows Homeowners Association, Inc" a Nebraska Non-Profit
<br />Corporation, its successors and assigns.
<br />
<br />Section 2. "Owner" shall mean and refer to the record
<br />owner, whether one or more persons or entities, of a fee simple
<br />title to any lot which is a part of the above described legal
<br />description, specifically Lots Eighteen (18) through Thirty-
<br />Seven (37) inc. of Coach Place Subdivision to the City of Grand
<br />Island, Hall County, Nebraska, but excluding those having such
<br />interest merely as security for the performance of an obligation,
<br />or the purchaser under a recorded contract for sale and purchase
<br />of a lot under which Seller retains title solely as security for
<br />the performance of the purchaser's obligation under the contract.
<br />
<br />Section 3. "Property" shall mean and refer to that certain
<br />real estate first described herein, and such additions thereto
<br />as may hereafter be annexed to the properties as provided herein.
<br />
<br />Section 4. "Common area" shall mean all real property on
<br />the properties exclusive of the platted lots Eighteen (18) through
<br />Thirty-Seven (37) inclusive as shown on the plat of Coach Place
<br />Subdivision, as well as any common area so specified by any
<br />
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