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DECLARATION OF PIC CONDOMINIUMS 200900728 The undersigned ("Owner") is the record titleholder of the subject real estate and intends with this Declaration to create and establish the PIC Condominiums in the manner provided for in the Nebraska Condominium Act, Neb. Rev. Stat. S 76-825 to 76-894 as it may be amended from time-to-time ("Act"). 1. DEFINITIONS. The terms used in this Declaration shall have the meanings stated in the Act, unless otherwise defined. Additional and supplemental definitions are as follows: A. "Allocated Interest" means the undivided interest in the Common Elements and the Common Expense Liability, allocated to each Unit. B. "Articles" means the Articles of Organization of the Association as they may be amended from time-to-time. C. "Association" means the Condominium Owners Association of PIC Development, LLC. a nonprofit corporation association of unit owners D. "Board" or "Board of Directors" means the governing body ofthe Association. E. "Building" means the existing improvements to be constructed on the Property and containing the Units and Commons as shown on the Plats and Plans. F. "Operating Agreement" means the Operating Agreement of the Association as it may be amended from time-to-time. G. "Common Elements" collectively refers to the General Commons and Limited Commons as defined below: i. General Commons. The portions ofthe Project designated as Commons together with all other portions ofthe Project not designated or described as either a Unit or Limited Commons. n. Limited Commons. Those portions of the Project which are not a Unit and are designated as being primarily for the use or benefit of an individual Unit or a particular Class of Units.