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;0 () M" P m :r )> ." C rn U: (") :r r-", :- .') z ^ ~ O(J) () 0 <:::'-.> N lV ::r: ~ ~, -..3 0-; ~I S '''n ,... !-!' ':-0 c:: l> S () <.n ;:0 f' rT"1 :z:-I -..J I '" :J: n; i. -0 -;l"ll S ~ ~ ,{'" -<0 -..J \> o " -..J -., -....J "2: (;:1 N C' -....J <0 <:;:;> ~ :r rll / IT] ,." fl ' -0 1> CJ C) - 0 t :3 r ~) I en '.:r> -oJ W (./J ;:><; -oJ )> N ......... '-"- CD (J) CD (J') IJECLARATION OF RESTRICTIVE COVENANTS ~ ;;., 5', 5'0 KNOW ALL MEN BY THESE PRESENTS: WHEREAS, G.I.S.C. Land Development, L.L.C., a Nebraska Limited Liability Company ("GISC"), is the owner of the real property described as set forth on the attached survey located in the City of Grand Island, Hall County Nebraska; and WHEREAS, it is the intention of GISC that the Property and the Adjacent Property previously developed by GISC or Arlington Investments, Inc. ("Arlington") be an exclusive commercial development and, therefore, the fl.)llowing the restrictive covenants have been set forth to further protect and provide for those investing in and building on the Adjacent Property and the Property; and WHEREAS, GISC desires to provide and maintain a unifonn set of rules, reh'llIations and restrictions concerning the construction, desih'11 and use of any structures on the Property; NOW THEREFORE, GISC declares that the provisions of this Declaration of Restrictive Covenants shall run with and bind the Property and shall be binding upon GISC and all persons and entities claiming an interest in any part or all of such Property. 1. Definitions. (a) "Property" shall mean the property described as set forth on attached Exhibit "A" located in the City of Grand Island, Hall County, Nebraska and shall include any lots hereafter created on the Property. (b) "Adjacent Property" shall mean all lots included in Richmond Subdivision, Richmond Second Subdivision, Richmond Third Subdivision and Richmond Fourth Subdivision. (c) "Covenants" shall mean this Declaration of Restrictive Covenants to be filed upon the Property as may be modified or amended from time to time as provided herein. (d) "Lot(s)" shall mean all lots hereafter created as a result of the subdivision or platting of the Property. (e) "Owner" shall mean the record owner, whether one or more persons or entities of the fee simple title to the Property or any Lot or part of the Property, but excluding those having such interest merely as security fl.)r the perfonnance of an obligation. (f) "Committee" shall mean the Architectural Review Committee. 2. Enforcement. So long as GISC owns the Property, GISC shall enfl)fce the Covenants established upon the Property. At such time as GTSC owns no part of the Property, the Owners of the Property together with the Owners of the Adjacent Property shall form an owners association as a Nebraska nonprofit corporation fl.)r the purpose of enforcing the Covenants upon the Property and enfl)feing the applicable restrictive covenants upon the Adjacent Property. Each Owner of the Property together with the Owners of the Adjacent Property shall be entitled to one vote for each Lot owned. In the event more than one person or entity is the Owner of any Lot, all of such persons-entities shall be members and the vote fl.)f such Lot shall be exercised among themselves,