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D E C L A RAT I 0 N ~~~ "{}~~~~ THIS DECLARATION made on the date hereinafter set Forth by RAYMOND A. WATSON and JUANITA WATSON, all hereto collectively called '°Declarant", the owner as o€ the ds'e hereof of all of the fallowing described real estate, to wit: Piper's Glen Subdivision in the City of Grand Island, Hall County, Nebraska. W I T N E S S E T H WHEREAS, Declarant is desirous of providing easements, restrictions, covenants and-conditions for the use of said gremises for the purpose of protecting the value and desirability of said property. NOW, THEREFORE, Declarant hereby declares that a1i of the Properties described above shall be held, sold, and conveyed subject to the fallowing easements, restrictions, covenants and conditions which are fc.r the purpose of protecting the value and desirability of, and which shall run with the real. property .above described as well as any other property submitted hereto as provided herein, and shall be binding on all parties having any right, title, or interest in the described Properties ar any part thereof, their heirs, successors and assigns, and shall inure to the benefit of each owner thereof until January 1, 1995, at which ti.a aid covenants shall he automatically extended for successive periods of ten (IO) years unless by written agreement of seventy percent (707} of the then owners of the Lots during the first fifteen year period of this instrument, and thereafter by net less than fifty percent (50%) of the owners of the Lots, it is agreed to change said covenants i.n whole ar i,n parC, said agree- raent to be executed and reoorded in the manner provided by law far conveyance of meal estate. ~+il"1" l CLE 1 DEFINITIONS Section i. "Association" shall mean and refer to Piper's Glen Subdiv Sion ers Associatior_, its successors and assigns, a Nebraska nonprofit corporation. Section 2. "Owner" shall mean and refer to the record owner, whet e~z one or more persons or entities, of a fee simple title to any Lot which is a part of the Properties, but excluding those having such interest merely as security for the performance of an obligation, or the purchaser under the sale and purchase of a Lot under which the seller retains title solely as security for the performance of the purchaser's abligatians under the contract. Section 3. "Properties" shall wears and refer to that certain real estate hereinbefore first described. Section 4. "Common Area" shall mean all real property in Piper'4 ,~_en Yu division in the City of ;rand Island, idebrasica, over which the association has an easement and shall exclude *_he interior of the structures erected in the subdivision. The Common Area will consist of easements over ail of Piper's Glen Subdivision except the interior of residences; prior to the conveyance of the first lot in the subdivision, Declarant shall convey as easement to the Association far the entire subdivision except the interior ~r ma`.Yiw tu-rea to be erected thereon, in accordance with this Declaration.