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<br />~ MASTER DEED AND CONDOMINIUM DECLARATION
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<br />OF
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<br />REIS TOWNHOMES, L.L.C.
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<br />THAT, WHEREAS, Reis Townhomes, L.L.C., a Nebraska limited liability company
<br />("Declarant"), whose address is 108 North Locust, Grand Island, Nebraska is the owner of the real
<br />property situated in Grand Island, Hall County, Nebraska, more particularly described as follows
<br />("Property") :
<br />
<br />Lots One (1), Two (2), Three (3), Four (4), Five (5) and Six (6) in Northview
<br />Seventh Subdivision in the City of Grand Island, Hall County, Nebraska; and
<br />
<br />WHEREAS, Declarant desires to establish by this Declaration a plan for the ownership in
<br />fee simple of real property estates consisting of the area or space contained in each of the Units
<br />located on the Property and the co-ownership by the individual and separate owners thereof, of all
<br />the remaining Property which is hereinafter defined and referred to as the Common Elements and the
<br />Limited Common Elements.
<br />
<br />NOW, THEREFORE, Declarant does hereby publish and declare that the Property and
<br />improvements now or hereafter constructed or renovated and all improvements, additions, and
<br />refinements made pursuant to the renovation of the Property and located thereon are hereby
<br />submitted and dedicated to condominium use and ownership as set forth herein in accordance with
<br />the provisions in the Nebraska Condominium Act, Neb Rev. Stat. ~~76-825 to 76-894, as amended
<br />from time to time (as amended, the "Act"). The following terms, covenants, conditions, easements,
<br />restrictions, uses, limitations, and obligations shall be deemed to run with the land, and shall be a
<br />burden and a benefit to Declarant, their successors and assigns, and every person acquiring or
<br />owning an interest in the Property and improvements, their grantees, successors, heirs, personal
<br />representatives, devisees and assigns.
<br />
<br />1. Definitions. The terms used herein shall have the meaning stated in the Act, unless
<br />otherwise defined herein or unless the context otherwise requires. Certain of these
<br />definitions are as follows:
<br />
<br />a. "Act" shall have the meaning described above.
<br />
<br />b. "Allocated Interests" shall have the meaning described in the Act.
<br />
<br />-1-
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