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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 />Section 11. Fidelih, Bonds. <br />The Executive Board may obtain adequate fidelity bonds for all officers and <br />employees of the Association handling or responsible for Association funds. The <br />premiums on such bonds shall constitute a common expense. <br />Section 12. Compensation. <br />No member of the Executive Board shall receive any compensation from the <br />Association for acting as such, except that members shall receive reimbursement for <br />expenses actually incurred by them as Directors. <br />Section 13. Liability of Directors. <br />The members of the Executive Board shall not be liable to the unit owners for any <br />mistake of judgment, negligence, or otherwise, except for their own individual willful <br />misconduct or bad faith. The members of the Executive Board shall have no personal <br />liability with respect to any contract made by them on behalf of the Association. Every <br />agreement made by the Executive Board or by the managing agent or by the manager on <br />behalf of the Association shall provide that the members of the Executive Board or the <br />managing agent, or the manager, as the case may be, are acting only as agents for the <br />Association and shall have no personal liability thereunder. <br />Section 14. Expansion of Jurisdiction As Amended . <br />Declarant has reserved the right to add up to twenty -eight (28) more units along with <br />additional real estate of up to fourteen (14) additional lots, being Lots One (1) through <br />Seven (7), inclusive, Lot Nine (9) and Lots Nineteen (19) through through Twenty -four (24), <br />inclusive, Westwood Park, Seventh Subdivision to the City of Grand Island, Hall County, <br />Nebraska, to the condominium. Upon the filing of an Amended Master Deed and <br />Declaration, the owners ofthe additional units shall automatically become members of this <br />Association and the common expenses and the undivided interests in the common areas <br />will be reallocated upon a formula utilizing the square footage of each unit (exclusive of <br />basements) divided by the total so uare footage of all units (exclusive of basements). Each <br />unit shall remain entitled to one (1) vote per unit. The number of votes for the expanded <br />Association shall be the aggregate number of votes and the rules for a quorum, for <br />determining whether an action shall be taken, for election of the members of the Executive <br />Board and all other purposes shall be as provided in these By -Laws. <br />Annual and special assessments shall be in proportion to allocated interests as <br />herein set forth, except as follows: <br />(a) Any common expense associated with the maintenance, repair or <br />replacement of a limited common element must be assessed against <br />the units to which that limited common element is assigned; <br />(b) Any common expense, or portion thereof, benefitting fewer than all of <br />the units must be assessed against the units benefttted; and <br />(c) Any common expense caused by the misconduct of any unit owner <br />or such unit owner's invitee may be assessed by the Association <br />exclusively against that owner's unit. <br />If common expense liabilities are reallocated, common expense assessments and <br />any installment thereof not yet due shall be recalculated in accordance with the reallocated <br />common expense liabilities. <br />
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