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I 84..- 004571 r DECLARATION THIS DECLARATION made on the date hereinafter set forth, by JAMES L, BONSALL and SARAH L. BONSALL, hereinafter referred to as "Declarant," the owners of all of the following described real estate, to-wit: Lots One (1) and Two (2), Regency Country Club Villas Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska, as surveyed, platted, and recorded. \n TNESSETH: WHEREAS, Declarant is desirous of providing easements, restrictions, covenants, and conditions for the use of said premises for the purpose of protecting the value and desirability of said property. NOW, THEREFORE, Declarant hereby declares that all of the Properties described above shall be held, sold, and conveyed sub- ject to the following easements, restrictions, covenants, and con~ ditions which are for the purpose of protecting the value and desirability of, and which shall run with the real property above- described as well as any other property submitted hereto as pro- vided herein, and shall be binding on all parties having any right, title or interest in the described Properties or any part thereof, their heirs, successors, and assigns and shall inure to the benefit of each owner thereof until June I, 2004, at which time said covenants shall be automatically extended for succes- sive periods of ten (10) years unless by written agreement of seventy-five percent (75%) of the then owners of the Lots during the first fifteen i15) year period of this instrument, and there- after by not less than fifty percent 150%) of the owners of the Lots, it is agreed to change said covenants in whole or in part, said agreement to be executed and recorded in the manner provided by law for conveyance of real estate. ARTICLE I DEFINITIONS Section 1, "Associat Lon" shall mean and refer to Regency Country Club Villa Townhomes Owners Association, its successors and as~igns, a Nebraska non-profit corporation, -1- u L L -.J L