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<br />84 -003208
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<br />DECLARATION
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<br />THIS DECLARATION made on the date hereinafter set
<br />forth, by Park Gardens Development, Incoporated, hereinafter
<br />referred to as "Declarant," the owner of all of the following
<br />described real estate, to-wit:
<br />
<br />Lots One through Eight (8) Park Gardens Second
<br />Subdivision to the City of Grand Island, Hall
<br />County, Nebraska,
<br />
<br />WITNESSETH:
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<br />WHEREAS, Declarant is desirous of providing easements,
<br />restrictions, covenants, and conditions for the use of said
<br />premises for the purpose of protecting the value and desir-
<br />ability of said property,
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<br />NOW, THEREFORE, Declarant hereby declares that all of
<br />the Properties described above shall be held, sold, and
<br />conveyed subject to the following easements, restrictions,
<br />covenants, and conditions which are for the purpose of
<br />protecting the value and desirability of, and which shall
<br />run with the real property above-described as well as any
<br />other nronertv submitted hereto as provided herein, and
<br />shall be binding on all parties having any right, title or
<br />interest in the described Properties or any part thereof,
<br />their heirs, successors, and assigns and shall inure to the
<br />benefit of each owner thereof until June 1, 2004, at which
<br />time said covenants shall be automatically extended for
<br />successi.ve periods of tLil (10) years unless by written
<br />agreement or seventy percent (70%) of the then owners of the
<br />Lots during the first fifteen (15) year period of this
<br />instrument, and thereafter by not less than fifty percent
<br />(50%) of the owners of the Lots, it is agreed to change said
<br />covenants in whole or in part, said agreement to be executed
<br />and recorded in the manner provided by law for conveyance of
<br />real estate.
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<br />ARTICLE 1
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<br />DEFINITIONS
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<br />Section 1, "Association" snaIL mean and refer to Park
<br />Gardens~opment Owners Association, its successors, and
<br />assigns, a Nebt"aska non-prOfit corporation,
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<br />Section 2, "Owner" shall mean and refer to the record
<br />owner-:-W'fieEner one or more persons or entities, of a fee
<br />simple title to any Lot \;/hich is a part of the Properties,
<br />but excluding those having such interest merely as security
<br />for the performance of an obligation, or the purchaser under
<br />a recorded contract for the sale and purchase of a Lot under
<br />which the Seller retains title solely'as security for the
<br />performance of the purchaser's obligations under the contract.
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<br />Section 3" "Properties" shall mean and rerer to that
<br />ce.rtaln re,.a:restate hereinbefore described and anv additional
<br />real estate hcre.aft~r annexed hereto in complianc~ v-lith the
<br />provisions or this Declaration,
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<br />Section t~. ~lCommon Area>1 shall mean all real p-roperty
<br />in Pa?Kcardens Second Subdivision and anY additional real
<br />property hereafter annext,d net'eto in compliance with the
<br />provis;i"OTtS of this Declaration in the City of Grand Island,
<br />Hall. County, Nebraska" over which the Association bas an
<br />easeUW--iJt_ aild shall exclude the interior of the residences
<br /><::'~;c tt}~ . in the_ Su'~di'\~~S~Ql~L Fr i.or:"t to the .~:on~seyancc ,of the
<br />t.lr~.t lot tn tJH7:, ,')uhC-:tV1-S10rl. DeC..l.-aX1U\t sna.li convey an
<br />easeme.nt to rj;H;~ AS80~:iiltiQn t.:;rl 'Lots One (1) through' Eight (8)
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