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84 -- 005507 <br />Declarant. A person is controlled by a Declarant if the Declarant (I) is a <br />general partner, officer, director or employer of the person, (ii) directly or <br />indirectly or acting in concert with one or more usher persons, or throug'ti <br />one or more subsidiaries, owns, controls, holds with power to vote, or holds <br />proxies representing more than twenty percent (20%) of the voting, interest in <br />4he _ten peon, (4711) controls •__ _ _ u _..____ °_ 0— e1a.,+;n - of _ , _ 7ec.,i +a <br />directors of the person, or tiv) has contributed more than thirty" percent- <br />(30%) of the capital of the person. Control does not exist if the powers.: <br />described in this paragraph are held solely as security for an obligation'-an& <br />are not exercised. <br />(B) "Allocated Interest ". Allocated Interest means the undivided Inter- <br />est in the Common Elements, the Common Expense Liability, and- votes- in the <br />Association allocated to each Unit. <br />(C) "Articles" means the Articles of Incorporation of the Association as <br />the same may be amended from time to time, the provisions of which, shall be. _ <br />applicable to the Project. <br />(D) "Association" means The Yancey Condominium Association, Inc., a <br />Nebraska nonprofit corporation, its successors and assigns, the Articles, <br />Bylaws, and Rules and Regulations of which shall govern the administration of <br />this Condominium Project, the members of which shall be all of the Owners, <br />including Declarant, so long as Decp,sra~ ` owns av =l Unit of the Condominium: <br />Project. <br />(E) "Board" or "Board of Directors" means the governing body of the <br />Association. <br />(F) "Building" means the building containing the Units as shown on the <br />Plats and Plans. <br />(G) "Bylaws" means the Bylaws of the Association as the same may be <br />amended from time to time, the provisions of which shall be applicable to the <br />Project. <br />(H) "Classes of Property" means the five designated classes of property <br />in the Condominium Project, as defined below and identified on the exhibits <br />attached hereto: <br />Class "A" Property: The Units shown in Exhibit "C ", <br />attached hereto and incorporated <br />herein by this reference, are the <br />Class "A" Property and their Owners <br />are identified as Class "A" Members <br />of the Association. <br />Class "B" Property: The Units shown in Exhibit ''D ", <br />attached hereto and incorporated <br />herein by this reference, are the <br />Class "B" Property and their Owners <br />are identified as Class "B" Members <br />of the Association. <br />-2- <br />a <br />