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<br />200900728 <br /> <br />H. "Common Expenses" means the expenses or liabilities incurred by the Association for the <br />administration, operation, and management ofthe Project pursuant to the requirements imposed upon <br />the Association by this Declaration. <br /> <br />1. "Common Expense Liability" means the liability for Common Expenses allocated to each <br />Unit. <br /> <br />1. "Condominium Documents" means this Declaration, the Articles, the Operating <br />Agreement and the Rules and Regulations. <br /> <br />K. "Declaration" means this document, and the attached exhibits and Plats and Plans, <br />together with any future amendments which may be recorded pursuant to the Act. <br /> <br />L. "Guest" means an, agent, employee, tenant, guest, licensee, or invitee of an Owner, and <br />any person claiming by, through, or under such Owner. <br /> <br />M. "Lot" means any platted lot of real estate on which PIC Development Condominium is <br />situated and shall initially include only Lot Five (5), KAAAR Subdivision to the City of Grand <br />Island, Hall County, Nebraska together with any port or subsequent resubdivision of that lot. "Lot" <br />shall also mean and refer to any additional platted lot that may be added to increase the number of <br />units or that make it part of a larger condominium in accordance with special declarant rights <br />retained by the declarant. <br /> <br />N. "Managing Agent" means the person employed by the Board, if any, to perform the <br />management and operational functions of the Project. <br /> <br />O. "Member" means every individual or entity who is a record Owner of a fee or undivided <br />fee interest in any Unit. Contract sellers of a Unit shall be considered a Member unless they transfer <br />the membership to the contract buyer and provide written notice of the contract and membership <br />transfer to Managing Agent. If the ownership of a Unit is held in more than one name, the Owners <br />shall designate one person for voting purposes ("Voting Member"). <br /> <br />P. "Mortgage" means any mortgage, deed of trust, or other document pledging a Unit as <br />security for the payment of a debt or obligation. <br /> <br />Q. "Mortgagee" means any person, corporation, partnership, trust, company, association, or <br />other legal entity which takes, owns, holds, or receives a Mortgage. <br /> <br />R. "Owner" means any individual, corporation, partnership, association, or other legal entity, <br />holding legal title to a Unit, but does not include any such person or entity having an interest solely <br />as a Mortgagee. <br /> <br />S. "Plats and Plans" are attached as Exhibit "A". <br /> <br />-2- <br />