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<br />200709536 <br /> <br />pursuant to Section 13.0 and 13.1. Thereafter, the Association has all powers necessary and appropriate to <br />affect the conveyance or encumbrance, including the power to execute deeds or other instruments. <br /> <br />13.3 Void Transactions. Except as permitted in this Article, any proported conveyance, encumbrance, <br />judicial sale or other voluntary transfer of common elements is void. <br /> <br />13.4 Rights of Access and Support. A conveyance or encumbrance of common elements pursuant to <br />this Article does not deprive any unit of its rights of access and support. <br /> <br />13.5 Preexisting Encumbrances. A conveyance or encumbrance of common elements pursuant to this <br />Article does not affect the priority or validity of preexisting encumbrances. <br /> <br />ARTICLE XIV. <br /> <br />TERMINATION OF CONDOMINIUM <br /> <br />14.0 Requirements for Termination. Except in the case ofa taking of all of the units by eminent <br />domain, a condominium may be terminated only be agreement of unit owners of unit to which at least 85% of <br />the votes in the Association are allocated. <br /> <br />14.1 Recordation of Agreements. An agreement to terminate shall be evidenced by the execution or <br />ratification of a termination agreement, in the same manner as a deed, by the requisite number of unit numbers. <br />The termination agreement shall specify a date after which the agreement will be void unless it is recorded <br />before that date. A termination agreement and all ratifications of a termination agreement shall be recorded in <br />Hall County, Nebraska. <br /> <br />14.2 Sale of Condominium. A termination agreement may provide that all of the common elements and <br />units of the condominium shall be sold following termination. If, pursuant to the agreement, any real estate in <br />the condominium is to be sold following termination, the termination agreement shall set forth the minimum <br />terms of the sale. <br /> <br />14.3 Powers of Association on Sale of Condominium: Rights of Unit Owners. The Association, on <br />behalf of the unit owners, may contract for the sale of real estate in the condominium, but the contract is not <br />binding on the unit owners until approved pursuant to Section 14.0 and 14.1. If any real estate in the <br />condominium is to be sold following termination, title to that real estate on termination vests the Association as <br />Trustee for the holders of all interest in the units. Thereafter, the Association has all powers necessary and <br />appropriate to effect the sale. Until the sale has been concluded and the proceeds of the sale distributed, the <br />Association continues in existence with all powers it had before termination. Proceeds of the sale shall be <br />distributed to unit owners and lien holders as their interests may appear, in proportion to the respective interest <br />of each unit owner as provided in Section 14.6. Unless otherwise specified in the termination agreement, as <br />long as the Association holds title to the real estate, each unit owner and his successor in interest shall have an <br />exclusive right to occupancy of the portion of the real estate that formerly constituted his unit. During the <br />period of that occupancy, each unit owner and his successor in interest shall remain liable for all assessments <br />and other obligations imposed on unit owners by this Article of this Declaration. <br /> <br />14.4 Rights of Unit Owners if Condominium Not Sold. If the real estate constituting the condominium <br />is not to be sold following termination, title to all the real estate in the condominium vests in the unit owners on <br />termination as tenants in common in proportion to the respective interests as provided in Section 14.6, and liens <br />on the units shift accordingly. While the tenancy in common exists, each unit owner and his successor in <br />interest have an exclusive right to occupancy of the portion ofthe real estate that formerly constituted his unit. <br /> <br />- 13 - <br />