81003007 - Laserfiche WebLink

Browse

$~-c~~o 3ou~~ Share Common Ex 2nses. Prior to the creation of additional Con ominium Property Regi^es within Lots 1, 2, 3, and 4, in Lindsey Subdivision to the C1ty of Grand island, Hall County, Nebraska, each villa shall pay one-seventh {lj7th} of the common expenses incurred by the San Marcos Villas Owners Association, and thereafter, each villa shall pay that percentage of the expenses incurred by all Condo- minium Property Regimes within those four blocks of Lindsey Subdivision determined by dividing ore by the total nua~er of villas so located. The percentage of common eigaer~ses shall be changed as of the first day of the next calendar month following the filing of the Master Deed creating the new Condominium provided, however,. that until the time of its initial occupancy no villa will be charged with any fees for utilities. VZI. COVENANTS, CONDITIONS AND RESTRICTIONS. The following covenants, conditions and restrictions relating to this condominium regime shall run with the land and shall be binding upon all gr~ntpes, devisees, mortgagees and any other persons who use the property, including t*:e persons who acquire the interest of any owner through fore- closure, enforcement of any lien or otherwise: a. The San Marcos Owners Association, a Nebraska non-profit corporation, has been incorporated to provide the vehicle for the management of each condominium created toy Master Deed within Lots I through 4, inclusive, of Lindsey Subdivision in the City of Grand Island, Hall County, Nebraska, hereinafter referred to as the Sar. Marcos Condominia. The owner or owners_nf each villa in she San Marcos Condominia shall each designate one gersar. to be a director of the Association. The designutian shall be made by the first day of the next calendar month after the filing of the A4aster Deed creating the Condominium. The initial designated directors shall take office at the first annual meeting of directors or on December 31, 1981, whichever occurs first. {Prior to that time the Initial Airectors designated in Article VI of the Articles of Incorporation of the Associ- ation shall tae the only directors.} The designates? director must either be the owner ar the spouse of the owner of the villa being represented. The Sy--Laws of said Association are also the t3y-Laws of this condominium property regi_:.e and are attached hereto as Exhibit flRa. b. All ge^.erai camcaan elements are for the use and enjaytaert of all owners. The limited common elements are for the exclusive use of the owner of the villa or villas to which they are appurtenant, his family, guests, servants and inuitees. The ownership of the common elements shall remain undivided, and no person or owner shall bring any action far the parti*.ion or diuision of the common elements. The Association shall from time to time establish rules and regulations for the use of the common elements, and all owners and users shal3 be bound thereby. The As- sociatian shall have the sole jurisdiction over and re- sggnsib.ility for alterations, improvements, repairs and maintenance of Lhe comanon elements. The share of an owner in the coon elements is appurtenant to his villa and inseparable from villa ownership. Assessments against ownoers far insurance, utilities, common element expenses and reserves, and far other expenses incurred by the Association shall be made pursuant to the By-Laws. Assessments paid rithin ten {IO} days after the date when due shall not bear interest, taut all stints not paid within said ten {7,.0? day 1_