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200906047
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Last modified
3/4/2012 12:53:51 PM
Creation date
7/23/2009 4:43:33 PM
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DEEDS
Inst Number
200906047
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20090604'7 <br />ARTICLE VI. SPECIAL DECLARANT RIGHTS AND DEVELOPMENT RIGHTS <br />Declarant shall reserve and have the following development rights: <br />(a) Declarant shall control the Association and may appoint and remove the <br />officers and members of the Executive Board of Directors until the earlier of- <br />(1) Sixty (60) days after conveyance of ninety percent (90 %) of <br />the units which may be created to unit owners other than the <br />Declarant; or <br />(2) Two (2) years after Declarant has ceased to offer units for sale <br />in the ordinary course of business. <br />Not later than sixty (60) days after conveyance of twenty five percent (25 %) <br />of the units which may be created to unit owners other than the Declarant, at <br />least one (1) member and not less than twenty five percent (25 %) of the <br />members of the Executive Board of Directors shall be elected exclusively by <br />unit owners other than the Declarant. Not later than sixty (60) days after <br />conveyance of fifty percent (50 %) of the units which may be created to unit <br />owners other than the Declarant, not less than thirty three and one third <br />percent (33 1/3 %) of the members of the Executive Board of Directors shall <br />be elected exclusively by unit owners other than the Declarant. <br />Not later than the termination of the period of the Declarant's control, the unit <br />owners shall elect an Executive Board of at least three (3) members, at least <br />the majority of whom must be unit owners. The Executive Board shall elect <br />the officers. The Executive Board members and officers shall take office <br />upon election. <br />(b) Declarant reserves, without assent of owners of units, the right to establish <br />easements, reservations, exceptions and exclusions consistent with the <br />condominium ownership and for the best interests of all the owners in the <br />condominium, and to supplement or amend this Master Deed and <br />Declaration, or as amended, or the attached By -Laws or as amended, until <br />Declarant releases control of the Association as set forth in (a) of this Article. <br />(c) Declarant further reserves the right to add to the condominium additional real <br />estate of one more lot, being Lot Nineteen (19), Westwood Park Seventh <br />Subdivision to the City of Grand Island, Hall County, Nebraska, and reserves <br />the right to add up to four (4) more units to the condominium. In the event <br />that Declarant exercises this right, the reallocation of common elements and <br />expenses shall be accomplished by using the formula set forth in Article VII <br />herein. <br />(d) Declarant reserves the right to use any units owned by them as models. Until <br />completion of sales by Declarant of all anticipated units in the condominium, <br />the reservation of rights in this paragraph shall be applicable to any real estate <br />or units added to the condominium. <br />(e) The initial land submitted to the condominium was owned by Kenneth <br />Shuda, then a single person. The land previously submitted to the <br />condominium is owned by Rudolf F. Plate and Jeannice R. Plate, husband <br />and wife, Tim C. Plate, a single person and Larson Construction Inc., a <br />Nebraska corporation. Those acting in concert, as a part of a common <br />promotional plan, include Rudolf F. Plate and Jeannice R. Plate, husband and <br />wife; and Tim C. Plate, a single person, and Kenneth Shuda, a single person, <br />and any successors and assigns to Declarant and their rights, and they may <br />submit the other land and units described herein to the condominium form of <br />ownership. Larson Construction, Inc., a Nebraska corporation was an <br />assignee of Declarant rights in Lots Twenty (20) and Twenty -one (21), <br />Westwood Park Seventh Subdivision to the City of Grand Island, Hall <br />County, Nebraska. <br />
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