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~ 83- (j(J2537 Section 1. Plan of Remodelil)g or Recon_struction - Obsolescence. In the event that a plan of remodeling or reconstruction is adopted by the owners arid subsequently approved by the first mortgagees as above set forth, ehe BOard of Administrators shall forthwith proceed to remodel or reconstruct the iillprove_nts. applying reserves as set forth for insurance proceeds in Section 2 of Article X, with the same rights as to special assessments asset forth therein. ~ion 8. plan of Sale - Obsolescence. In the event that a plan of sale is adopted by the ovners arid subsequently ~roved by the first mortgagees, as above set forth. then the Board of Administra- tors shall forthWith record a notice setting forth such fact or facts, and, upon the recording of such notice with the Register of Deeds of Hall County, Nebraska, by the Association's President and Secretary or Assistant Secretary, the entire premises shall be offered for sale and sold by the Association pursuant to the provisions of this Ar ticle, as attorney- in-fact for all owners, free and clear of the provisions contained in the Master Deed, Articles of IncoJ.1lOration and these By-Law",. The fonds and reserves established and held by the Association and the proceeds from the sale of the entire Regime shall be divided by the Association according to each owner's interest in the general common el.-enta, and such divided proceeds shall be paid into separate accounts, each account representing one of the condominium suites or garages. Each such aocount shall be in the nMle of the Association and shall be further identified by the Condominium suite or garage designation and the name of the owner. The total funds of each account shall be used and disbursed, without contribution from one account to another. by the Association. as attorney-in-fact, as set forth in Section 12 of Article X. Section 9. CondeMnation. In the event of taking by condemnation or eminent domain of all or part of the c~n area, the award made shall be paid to the Board of AdRlinistratou. If owners holding eighty percent 180\l or more of the basic value of the Condominium Property Regime do not. within sixty 160) days from the date of the award, approve the use. of the proceeds from the award for use in repairing, expanding or rutoring the ~ area, the Board of Administrators shall forthwith disburse the net proceedll of the award for the Sallie purpose and in the sallll! order as is provided in Section 12 of Article X. Sect.ion 10. Power of Sale. In the event of sale of the entire Regime pursuant to Section 5 or Section 8 of Atticle x, or upon adoption of such a plan opon terminAtion of the con~ini~. Property Regi.. pursuant to Section 1 of Article XI, or otherwise, the A..ociation ahall have all the powers set forth in Article X in dealing with a purchaser or purchasers as attorney-in-fact. Section 11. Sale of Suite or Garage - Default in Special Assessment Under Article X. The usesSIllent provided for herein shall be a debt of each owner and a lien on his ~inium suite or garage and may be enforced and collected as is provided in Section 5 of Article V. In addition thereto, the Association. as attorney-in-fact, ahlll1 helve the ab$olute right and power to sell the condollliniul1l suite or garage of any owner refusing or failing to pay s~ch deficiency assessment within the time provi~, and if not so paid, the Association shall cause to be recorded a notice thllt the condominium sui te or garage of the delinquent owner shall be sold by the AlI!IQCtation, as attocney-in-fact, pursuant to the prOVisions of this Section. The dctlinqueat owner shall be requ i red to pay to the Association the coats and expenses fq~ (1111\9 the notices, inter~st at tne highest legal rate on the amount of the ~aament and all reasonable attorney's fees. The proceeds derived from the sale 0( $UC!h eondollliniwa sutte or garage shall be used and disbursed by the Aaaoc1ation, .. at,tocrI<<Y~in-faet.in the order set forth in Section 12 of Article X. Any 4etici<lmCY of. tunds to ~y too unpaid assessments shall relllll1n the personal obligation of. "bjt .sel1nquent S;jih or garage Qltner. -16-