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INFORMATION BROCHUREPINEY CREEK MAINTENANCE ASSOCIATION, INC. For the convenience of the Homeowners in PINEY CREEK ("Piney Creek"), a non-profit corporation known as Piney Creek Maintenance Association, Inc.,
("Association") has been or will be organized to own, operate and manage the maintenance property and improvements thereon in Piney Creek. The maintenance property and improvements in Piney Creek consists of approximately
acres of land with greenbelts, landscaping, fences, trees, shrubs, rights-of-way, bike paths and trails. All of the maintenance property in Piney Creek, except those portions which have been dedicated to a public authority or
entity, will be conveyed to the Association in fee simple with marketable title, free and clear of all liens and encumbrances, except taxes, easements, rights of way, covenants, conditions, restrictions, reservations, laws,
ordinances and regulations, prior to the commencement of levying of assessments by the Association. Every individual owner of a lot, condominium unit, apartment building or commercial area in Piney Creek has the right to use the
maintenance property and improvements subject to reasonable rules and regulations established by the Association, which is controlled by the developer, Piney Creek Development Co., a Colorado joint venture, initially, and then by
the owners themselves through the Board of Directors of the Association. The individual lot owners are Class A members of the Association and are entitled to one vote for each lot which they own. The individual condominium unit
owners are Class B members of the Association and are entitled to one vote for each condominium unit which they own. The individual apartment building and commercial area owners are Class C members and Class D members,
respectively, of the Association and are entitled to one vote for each 1800 square feet of net rentable area within the apartment building or commercial area, as the case may be. The developer is temporarily entitled to appoint the
board of directors of the Association, irrespective of the foregoing voting rights. This right terminates upon the earliest happening of any of the following events:
1. 120 days following the date when seventy-five percent (75%) of all lots and seventy-five percent (75%) of all condominium units in Piney Creek have been conveyed by the developer or a participating builder to the first
owner thereof (other than the developer or a participating builder); provided, however, that if, during this 120-day period, additional real property is annexed to the property subject to the jurisdiction of the Association so
that the developer and all participating builders again own at least twenty-five percent (25%) of the lots or twenty-five percent (25%) of the condominium units in such property, this reserved right shall be deemed not to have
terminated; 2. Ten (10) years from the recording date of the Declaration; or 3. On a date certain set forth in written notice from the developer to the secretary of the Association stating its intent to terminate such right
to appoint the board as of such dale.
The Association will meet annually at which meeting members will elect directors to the Board of Directors to fill the vacancies resulting from expiration of prior terms of office on such Board. At each meeting, the officers of
the Association will present a financial report and other business will be conducted according to the agenda for such annual meetings. Special meetings of the Association may be called at any time by the President, the Board of
Directors, or upon written request by the members entitled to vote one-fourth of the votes of the non-developer class membership The Board of Directors elects the officers of the Association who direct the day-to-day business of
the Association. The Association is responsible for the maintenance, upkeep and landscaping of the certain landscaped rights-of-way and medians within or adjacent to public or private streets within or abutting Piney Creek, the
maintenance property, bookkeeping and accounting functions, maintenance of public and private streets, maintenance of all greenery and other improvements located on the maintenance property, landscaping, collection of the
assessment fees from the members, preparation of an annual budget, providing for an annual compilation report or financial statement of the Association, insuring the maintenance property and related duties. The maximum annual
assessment fee is determined each year by the Board of Directors of the Association. The owners of each lot and condominium unit and the owners of each l800 square feet of net rentable area in an apartment building or commercial
area will be assessed the same actual assessment fees except that the actual assessment fees on the lots, condominium units, apartment units and commercial areas which are owned by the developer and/or participating builder and
which are neither leased, nor rented nor otherwise residentially or commercially occupied will be fixed at twenty-five percent (25%) of the actual assessment rate for the other lots, condominium units, apartment units or commercial
areas. However, if the Association's income is inadequate to meet its expenses during a particular annual assessment period, and if the steps required by the Declaration are taken by the Association, then the developer and
participating builders will be made responsible for the payment of a subsidy equal to that amount necessary to meet such shortfall, up to full parity on the developer's and participating builders' assessments. The amount of the
annual increase in the maximum annual assessment fee for the Association over the preceding assessment year will be equal to yearly increases, if any, in the Consumer Price Index. Only by vote of two-thirds of each class of members
who are voting in person or by proxy at a meeting duly called for that purpose may the maximum annual assessment for the Association be increased above that established by the Consumer Price Index formula. At any time, upon notice
to the owners, the Board of Directors of the Association may fix the actual assessment at any amount not in excess of the maximum. Presently the maximum annual assessment made by the Association is Six Hundred Dollars ($600.00) per
lot, condominium unit or 1800 square feet of net rentable area in an apartment building or commercial area. The annual assessment of the Association will be collected on a monthly basis or with such lesser frequency as is deemed
appropriate by the board of directors of the Association. In addition to the annual assessments, the Association may levy, in any assessment year, a special assessment, for that year only, for construction, repair, or replacement
of capital improvements on the maintenance property or for funding any operating deficit of the Association. Any such special assessment requires the assent of two-thirds of each class of members voting in person or by proxy at a
meeting duly called for considering such special assessment. Any special assessment levied by the Association will be assessed equally against each lot, condominium unit, or 1800 square feet of net rentable area in an apartment
building or commercial area, except that special assessments against lots and condominium units owned by the developer and/or any participating builder will be twenty-five percent (25%) of the rate of special assessments levied
against other lots and condominium units. In addition to the annual and special assessments, a contribution to the working fund in an amount equal to 2 times the monthly installment of the maximum annual assessment assessed by
the Association will be paid at closing by the purchasers of each lot or condominium unit who purchase their lot or condominium unit from the developer, or participating builder. A similar deposit for each 1800 square feet of net
rentable area will be made by the owner of each commercial area or apartment building within Piney Creek when the maintenance property is conveyed to the Association or when such commercial area or apartment building is subjected
to the Declaration, whichever occurs last. Such working fund is to be maintained by the Association in a segregated account for its use and benefit. Since it is important that each owner pay his assessments when due, procedures
for the enforcement and collection of assessments have been established. The assessment is the personal obligation of the owner concerned, and also a lien will be created against an owner's lot, condominium unit, apartment building
or commercial area, for the amount of any delinquent assessment. After an assessment is delinquent over ten (10) days, it bears interest from the due date at the rate of eighteen percent (18%) per annum, and the Association may
assess a monthly late charge thereon. Such lien is for the benefit of the Association and can be foreclosed. In addition, the Association can file an action in court to collect the amount of the assessment plus interest, late
charges, costs and attorneys' fees, without foreclosing its lien. Additional residential, commercial areas and maintenance property may be annexed to Piney Creek with the consent of two-thirds of each class of members. In
addition, subject to approval by the Federal Housing Administration of the U.S. Department of Housing and Urban Development or the Veterans Administration while the developer may appoint the board of directors of the Association,
the developer may annex additional residential, commercial areas and maintenance property to Piney Creek within the lands, described as Piney Creek, Arapahoe County, Colorado, until ten (10) years from the recording date of the
Declaration, without the consent of the individual homeowners or the Association. Any such annexation, as well as any merger or consolidation, will increase the number of members of the Association. I/we acknowledge receipt of a
copy of this Information Brochure for Piney Creek Maintenance Association, Inc. this_________day of________________, 19______.
DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS OF PINEY CREEK MAINTENANCE ASSOCIATION, INC. TABLE OF CONTENTS
DECLARATIONOF COVENANTS, CONDITIONS, AND RESTRICTIONS
OF PINEY CREEK MAINTENANCE ASSOCIATION, INC.
THIS DECLARATION, made and entered into this 26th day of October, 1983, by PINEY CREEK DEVELOPMENT CO., a Colorado joint venture, hereinafter referred to as "Declarant." WITNESSETH:
WHEREAS, Declarant is the owner of that certain parcel of real property located in the County of Arapahoe, State of Colorado, which is described on Exhibit A attached hereto and incorporated herein by this reference.
NOW, THEREFORE, Declarant hereby declares that all of the properties described above shall be held, sold, and conveyed subject to the following easements, reservations, restrictions, covenants, and conditions which are for the
purpose of promoting the common recreation, health and safety of the owners of the aforesaid properties and which shall run with the aforesaid properties and be binding on all parties having any right, title, or interest in the
above-described properties or any part thereof, their heirs, personal representatives, successors, and assigns, and shall inure to the benefit of each owner thereof. ARTICLE I
DEFINITIONS Section 1. "Agencies" shall mean and collectively refer to, the Federal National Mortgage Association (FNMA), the
Government National Mortgage Association (GNMA), the Federal Home Loan Mortgage Corporation (FHLMC), the Department of Housing and Urban Development (HUD), the Veterans Administration (VA) or any other governmental
or quasi-governmental agency or any other public, quasi-public or private entity which performs (or may perform in the future) functions similar to those currently performed by such entities. Section 2. "Apartment Building" shall mean and refer to any building (including improvements and fixtures therein
contained) located upon The Properties within which one or more Apartment Units are located and which is not subject to the terms and conditions of any Supplemental Declaration. Section 3. "Apartment Unit" shall mean and refer to each area of an Apartment Building which is or may be separately
offered for rental or lease by' the Owners thereof. Section 4. "Association" shall mean and refer to Piney Creek Maintenance Association, Inc., a Colorado non-profit
corporation, its successors and assigns. Section 5. "Commercial Area" shall mean any parcel of land annexed to the Properties pursuant to Article IX, Section
4 hereof and designated for use for commercial purposes. Section 6. "Common Area" shall mean and refer to all property (including the improvements thereto) owned by any
Subassociation for the common use and enjoyment of the members of such Subassociation Section 7. "Common Elements" shall mean and refer to all Common Elements, if any, including General Common
Elements and Limited Common Elements, as defined in any Supplemental Declaration. Section 8. "Condominium Building" shall mean and refer to any building (including all fixtures and improvements
therein contained) located on the Properties and within which one or more Individual Air Space Units are located. Section 9. "Condominium Unit" shall mean and refer to the fee simple interest and title in and to an Individual Air
Space Unit, together with all fixtures and improvements therein contained, and together with the undivided interest in the Common Elements appurtenant to such Individual Air Space Unit. Section 10. "Declarant" shall mean and refer to Piney Creek Development Co., a Colorado joint venture, its successors
and assigns, if such successors and assigns are specifically assigned any of Declarant's rights hereunder by instrument duly recorded in the Arapahoe County, Colorado, land records. Section 11. "Declaration" shall mean and refer to this Declaration of Covenants, Conditions and Restrictions, as it
may be amended from time to time. Section 12. First Mortgage" shall mean and refer to any unpaid and outstanding, mortgage, deed of trust or other
security instrument recorded in the records of the Office of the Clerk and Recorder of the County of Arapahoe, Colorado, encumbering any Lot or Condominium Unit, having priority of record over all other recorded liens except
those governmental liens made superior by statute (such as general ad valorem tax liens and special assessments).
"First Mortgage", for purposes of Article IV, Section 10 and with respect to notice of termination, subordination or
modification of certain insurance policies, to Article V. Section 1, shall also mean and refer to any executory land sales
contract wherein the Administrator of Veterans Affairs, an Officer of the United States of America, is the seller whether such contract is recorded or not, and whether such contract is owned by the said Administrator or has been
assigned by the said Administrator and is owned by the Administrator's assignee, or a remote assignee, and the land records in the Office of the Clerk and Recorder of the County of Arapahoe, Colorado, show the said Administrator as
having the record title to the Lot or Condominium Unit. Section 13. "First Mortgagee" shall mean and refer to any person named as a mortgagee or beneficiary under any First
Mortgage (including for purposes of Article IV Section 10 and with respect to notice of termination, subordination or
modification of certain insurance policies, to Article V, Section 1, the Administrator of Veterans Affairs, an Officer of
the United States of America, and his assigns under any executory land sales contract wherein the said Administrator
is identified as the seller, whether such contract is recorded or not and the land records in the Office of the Clerk and
Recorder of the County of Arapahoe, Colorado show the said Administrator as having the record title to the Lot or Condominium Unit) or any successor to the interest of any such person under such First Mortgage. Section 14, "Individual Air Space Unit" shall mean and refer to the air space contained within the enclosed rooms
occupying part of a floor or floors in a Condominium Building and bounded by the unfinished interior surfaces of the
perimeter walls (or the adjoining walls, if two or more Individual Air Space Units adjoin each other), unfinished interior
surfaces of floors (or the lowermost floors, if it is an Individual Air Space Unit containing more than one level)
unfinished interior surfaces of ceilings (or the uppermost ceilings if it is an Individual Air Space Unit containing more than one level), windows and window frames, doors and door frames of a Condominium Building, and which is
separately identified on a condominium map. Said Individual Air Space Unit is to be used for residential purposes and shall have access to a public street. Section 15. "Lot" shall mean and refer to any plot of land subject to a Supplemental Declaration, except Common
Elements, which is shown upon any recorded subdivision map of the Properties or any portion thereof, with the exception of the Maintenance Property, and public streets, but together with all appurtenances and improvements
now or hereafter thereon. Section 16. "Maintenance Property" shall mean and refer to all property (including the improvements thereto) owned
by the Association for the common use and enjoyment of the Owners together with all publicly dedicated roads, street, rights-of-way and easements located within or adjacent to the perimeter boundaries of the Properties which are
to be maintained by the Association. The Maintenance Property to be owned by the Association at the time of the commencement of assessments hereunder is described on Exhibit B attached hereto and incorporated herein by this
reference. Section 17. "Member" shall mean and refer to each Owner of a Lot, Condominium Unit, Apartment Building or
Commercial Area that is subject to assessment hereunder; membership in the Association shall be appurtenant to, and may not be separated from, ownership of a Lot, Condominium Unit, Apartment Building or Commercial Area. Section 18. "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of fee simple
title to any Lot, Condominium Unit, Apartment Building or Commercial Area which is a part of the Properties, including contract sellers, but excluding those having such interest merely as security for the performance of an
obligation, Section 19, "Participating Builder" shall mean an Owner other than Declarant which acquires a portion of the
Properties from Declarant for the purpose of reselling or leasing the Residences or Commercial Areas thereon who is designate in writing by Declarant as a Participating Builder by instrument duly recorded in the Arapahoe County,
Colorado land records. Section 20. "Properties" shall mean and refer to that certain real property described on Exhibit A and such additions
thereto as may hereafter be brought within the jurisdiction of the Association. Section 21. Residence shall mean and refer to any townhouse, Condominium Unit or Apartment Unit located within the Properties.
Section 22. "Subassociation" shall mean and refer to any Colorado non-profit corporation, its successors and
assigns, organized and established by Declarant pursuant to or in connection with any Supplemental Declaration. Each Subassociation shall act by and through its board of directors and officers. Section 23. "Supplemental Declaration" shall mean and refer to each Declaration of Covenants, Conditions and
Restrictions and each Condominium Declaration, to which the Properties or any portion thereof is now or may hereafter be subjected by Declarant as each such document may be amended from time to time, provided that each
such Supplemental Declaration shall be recorded in the office of the Clerk and Recorder of the County of Arapahoe, State of Colorado. ARTICLE II
PROPERTY RIGHTS IN THE MAINTENANCE PROPERTY Section 1. Owners' Easements of Enjoyment. Subject to the provisions of Section 2 of this Article, every Owner shall
have a nonexclusive right and easement of enjoyment in and to the Maintenance Property and the improvements located thereon, and such easement shall be appurtenant to and shall pass with the title to every Lot, Condominium
Unit, Apartment Building and Commercial Area. Section 2. Extent of Owners' Easements. The rights and easements of enjoyment created hereby shall be subject to the following:
(a) The right of the Association, in accordance with its Articles and Bylaws, to borrow money for the purpose of improving the Maintenance Property and, with written consent of the Members entitled to vote two-thirds
(2/3) of the votes of each class of Membership, to mortgage said property as security for any such loan; and (b) The right of the Association to take such steps as are reasonably necessary to protect the Maintenance
Property against foreclosure; and (c) The right of the Association to promulgate and publish rules and regulations with which each Member shall strictly comply; and
(d) The right of the Association as provided in its Articles and Bylaws, to suspend the voting rights of a Member for any period during which any assessment against his Lot, Condominium Unit, Apartment Building
or Commercial Area remains unpaid and, for a period not to exceed sixty (60) days, for any infraction of its published rules and regulations; and
(e) The right of the Association to dedicate or transfer all or any part of the Maintenance Property to any public agency, authority, or utility for such purposes and subject to such conditions as may be agreed to by
the Members, provided that no such dedication or transfer shall be effective unless first approved in writing by two-thirds (2/3) of the votes of each class of membership hereunder, and unless written notice of the
proposed agreement and action thereunder is sent to every Member at least thirty (30) days in advance of any action taken. Notwithstanding the foregoing, the granting of permits, licenses and easements for public
utilities, roads, and/or for other purposes consistent with the intended use of the Maintenance Property and reasonably necessary or useful for the proper maintenance or operation of the Properties shall not be deemed
a transfer within the meaning of this Subsection (e); and (f) The right of the Association to close or limit the use of the Maintenance Property, or portions thereof,
while maintaining, repairing and making replacements in the Maintenance Property.
Section 3. Delegation of Use. Any Owner may delegate, in accordance with the Bylaws, his right of enjoyment to the
Maintenance Property and facilities to the members of his family, his tenants, or contract purchasers who reside on his Lot, or in his Condominium Unit; provided, however, that the Owner of any Apartment Building or Commercial
Area located upon the Properties shall delegate his right of use and enjoyment in and to the Maintenance Property to
the tenants of each Apartment Unit or other leased areas within such Apartment Building or Commercial Area, to their family members and employees, except as otherwise provided in any lease between the Owner and the tenant, Section 4. Payment of Taxes or Insurance by Mortgagees. First Mortgagees shall have the right, jointly or singly, to
pay taxes or other charges or assessments which are in default and which may or have become a lien against the Maintenance Property and may pay overdue premiums on hazard insurance policies or secure new hazard insurance
coverage on the lapse of a policy for the Maintenance Property, and any First Mortgagee making any such payment shall be owned immediate reimbursement therefor from the Association. ARTICLE III MEMBERSHIP AND VOTING RIGHTS Section 1. Membership. Every Owner of a Lot, Condominium Unit, Apartment Building or Commercial Area which is
subject to assessment hereunder, shall be a Member of the Association. Membership shall be appurtenant to and may not be separated from ownership of any Lot, Condominium Unit, Apartment Building or Commercial Area. Section 2. Classes of Membership. The Association shall have four classes of voting membership:
Class A. Class A Members shall be all Owners of Lots, including Declarant. Each Class A Member shall be entitled to one vote for each Lot owned. When more than one person holds an interest in any Lot, all such
persons shall be Members, and the vote for such Lot shall be exercised as they determine, but in no event shall more than one vote be cast with respect to any such Lot. Class B.
Class B Members shall be all Owners of Condominium Units, including Declarant, and shall be entitled to one vote for each Condominium Unit owned. When more than one person holds an interest in any
Condominium Unit, all such persons shall be Members, and the vote of such Condominium Unit shall be exercised as they determine, but in no event shall more than one vole be cast with respect to any such Condominium Unit.
Class C. Class C Members shall be all Owners of Apartment Buildings and shall be entitled to one vote for each 1800 net rentable square feet of living space within such Apartment Building. When more than one
person holds an interest in any Apartment Building, all such persons shall be Members, and all votes for such Apartment Building shall be exercised as they determine, but in no event shall more than one vote be cast
with respect to any 1800 square feet of living space within an Apartment Building. In the event any Apartment Building is converted to condominium ownership during the term of this Declaration, all Class C
memberships within such converted Apartment Building(s) shall automatically be converted to Class B memberships with each Condominium Unit receiving one Class B membership on the effective date of such
conversion. In the event all Apartment Buildings within the Properties are converted to condominium ownership, the Class C membership shall terminate. Class D.
Class D Members shall be all Owners of Commercial Areas and shall be entitled to one vote for each 1800 square feet of net rentable area within such Commercial Area. When more than one person holds an
interest in any Commercial Area, all such persons shall be Members, and the vote of such Commercial Area shall be exercised as they determine, but in no event shall more than one vote be cast with respect to any 1800
square feet of net rentable space within such Commercial Area.
Section 3. Reservation. Notwithstanding the foregoing voting rights, Declarant hereby reserves the right to appoint
the Board of Directors of the Association for the period hereinafter described. The Board of Directors shall have such
powers and ditties and shall serve for such terms of office as are set forth in the Articles of Incorporation and Bylaws of the Association. This reserved right shall terminate upon the first to occur of the following events:
(a) 120 days following the date when seventy-five percent (75%) of all Lots and seventy-five percent (75%) of all Condominium Units in the Properties have been conveyed by Declarant or a Participating Builder to the
first owner thereof (other than Declarant or a Participating Builder); provided, however, that if, during such l20-day period, additional real property is annexed to the Properties pursuant to Article IX, Section 4 hereof,
so that Declarant and all Participating Builders again own at least twenty-five percent (25%) of the Lots or twenty-five percent (25%) of the Condominium Units in the Properties, such reserved right shall be deemed
not to have terminated; (b) ten (10) years from the date upon which this Declaration is recorded in the office of the Clerk and Recorder of Arapahoe County, Colorado; or
(c) on a date certain set forth in written notice from the Declarant to the Secretary of the Association of its intent to terminate this reserved right as of such date; provided, however, that in the event there is more than
one Declarant, such notice must be signed by all such Declarants.
ARTICLE IV COVENANT FOR ASSESSMENTS Section 1. Creation of the Lien and Personal Obligation of Assessments.
Each Owner of a Lot, Condominium Unit, Apartment Building or Commercial Area, including Declarant and any Participating Builders, by acceptance of a deed
therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association: (1) annual assessments or charges and (2) special assessments, such assessments to be established and
collected as hereinafter provided. The annual and special assessments, together with interest, late charges, costs, and
reasonable attorney's fees, shall be a charge on the land and shall be a continuing lien upon the Lot, Condominium Unit, Apartment Building or Commercial Area, against which each such assessment is made. The lien may be enforced
by foreclosure of the defaulting Owner's Lot, Condominium Unit, Apartment Building or Commercial Area by the Association in like manner as a mortgage on real property. In any such foreclosure the Owner shall be required to pay
the costs and expenses of such proceedings, including reasonable attorney's fees. The Board of Directors or managing agent of the Association may prepare a written notice setting forth the amount of such unpaid
indebtedness, the name of the Owner of the Lot, Condominium Unit, Apartment Building or Commercial Area, and a description of the Lot, Condominium Unit, Apartment Building or Commercial Area. Such a notice shall be signed by
one of the Board of Directors or by the managing agent of the Association and may be recorded in the office of the Clerk and Recorder of the County of Arapahoe, Colorado. The lien for each unpaid assessment shall attach to each
Lot, Condominium Unit, Apartment Building or Commercial Area, at the beginning of each assessment period and shall continue to be a lien against such Lot, Condominium Unit, Apartment Building or Commercial Area, until paid.
The costs and expenses for filing any notice of lien shall be added to the assessment for the Lot, Condominium Unit, Apartment Building or Commercial Area, against which it is filed and collected as part and parcel thereof. Each
assessment, together with interest, late charges, costs, and reasonable attorney's fees, shall also be the personal obligation of each person who was the Owner of such Lot, Condominium Unit, Apartment Building or Commercial
Area, at the time when the assessment became due. The personal obligation for delinquent assessments shall not pass to such Owner's successors in title unless expressly assumed by them. The Association's lien on each Lot,
Condominium Unit, Apartment Building or Commercial Area, for assessments shall be superior to any homestead exemption now or hereafter provided by the laws of the State of Colorado or any exemption now or hereafter provided
by the laws of the United States. The acceptance of a deed subject to this Declaration shall constitute a waiver of the homestead and any other exemption as against said assessment lien. Section 2.
Purpose of Assessments. The assessments levied by the Association shall be used exclusively to promote the recreation, health and safety of the residents of the Properties, for the repair, replacement, and maintenance of
certain landscaped rights-of-way and medians within or adjacent to public or private streets within or abutting the
Properties which are the responsibility of the Association to maintain, and for the improvement, repair, replacement and maintenance of the Maintenance Property and the appurtenances and improvements thereto and thereon,
including without limitation, maintenance of landscaping located on the Maintenance Property, maintenance of greenbelt areas within the Maintenance Property, maintenance of bike paths and trails within the Maintenance
Property, maintenance of any well site and/or the irrigation system within the Maintenance Property, pruning trees and hedges located upon the Maintenance Property, maintaining all fences, lighting facilities and masonry entryway
signs located within the Maintenance Property, maintaining certain publicly dedicated easements located within the Maintenance Property, and maintaining, repairing and replacing all improvements and facilities located thereon. Section 3. Maximum Annual Assessment. Until commencement of the second annual assessment period, the
maximum annual assessment shall be Six Hundred Dollars ($600.00) per "Assessment Unit", subject to the assessment rate on certain Lots, Condominium Units, Apartment Units or Commercial Areas, owned by Declarant or a
Participating Builder, as provided in Section 6 of this Article IV. For purposes of this Declaration, an "Assessment
Unit" Shall mean a Lot, a Condominium Unit, or any 1800 square feet of net rentable space in an Apartment Building or a Commercial Area.
(a) Effective with commencement of the second and each subsequent annual assessment period, the maximum annual assessment shall be increased effective each annual assessment year in conformance with the rise, if
any, of the Consumer Price Index published by the U.S. Department of Labor, Washington D.C., for All Items and Major Group Figures for All Urban Consumers (1967=100), for the one-year period ending with the
preceding month of DECEMBER. This annual increase in the maximum annual assessment shall occur automatically upon the commencement of each annual assessment year without the necessity of any action
being taken with respect thereto by the Association. In the event the aforesaid Consumer Price Index is not published, for whatever reason, then the increase in the maximum annual assessment, as provided herein,
shall be calculated by using a substantially comparable index designated by the Board of Directors of the Association. (b) Effective with commencement of the second and each subsequent annual assessment period, the maximum
annual assessment may be increased above that established by the Consumer Price Index formula, for the next succeeding annual assessment year and at the end of each such annual assessment period, for each
succeeding annual assessment year, provided that any such increase shall have the assent of two-thirds (2/3) of each class of Members who are voting in person or by proxy at a meeting duly called for this purpose,
written notice of which shall be sent to all Members not less than 30 days nor more than 60 days in advance of such meeting setting forth the purpose therefor.
(c) Subject to the provisions of Section 6 of this Article IV relating to Declarant's and Participating Builders' obligations to subsidize the Association for certain shortfalls in assessments, the Board of Directors of the
Association may, at any time and from time to time, after consideration of the projected maintenance costs and other financial needs of the Association, and upon written notification to each Owner of the amount of
the actual assessment to be levied, fix the actual assessment per each Assessment Unit at an amount less than the maximum. In the event the Board of Directors of the association determines, at any time and from time
to time, during any annual assessment period in which the Association shall have levied an assessment in an amount less than the maximum, that the rate of assessment then in effect is less than may be necessary to
adequately fund all maintenance costs and other financial needs of the Association, then the Board of Directors of the Association may increase the actual assessment per each Assessment Unit upon written
notification thereof to each Owner, provided that the amount of the actual assessment per each Assessment Unit shall not be increased to an amount in excess of the maximum annual assessment for that annual assessment period.
(d) The limitations hereof shall not apply to any change in the maximum and basis of the assessments undertaken as incident to a merger or consolidation in which the Association is authorized to participate
under its Articles of Incorporation. (e) The Association shall maintain an adequate reserve fund out of the annual assessments for the
maintenance, repair and replacement of those elements or portions of the Maintenance Property that must be maintained, repaired or replaced on a periodic basis.
Section 4. Special Assessments for Capital Improvements. In addition to the annual assessments authorized in this
Article IV, the Association may levy, in any assessment year, a special assessment applicable to that year only for the
purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair, or replacement of any
capital improvement upon the Maintenance Property, including fixtures and personal property related thereto, or for the funding of any operating deficit incurred by the Association. Any such assessment shall have the assent of
two-thirds (2/3) of the votes of each class of Members who are voting in person or by proxy at a meeting duly called for this purpose and shall be levied equally against each Assessment Unit. Section 5.
Notice and Quorum for Any Action Authorized Under Sections 3 and 4. Written notice of any meeting called for the purpose of taking any action authorized under Sections 3 or 4 of this Article shall be sent to all
Members not less than 30 days nor more than 60 days in advance of the meeting. The first such meeting called shall require the presence of Members or of proxies entitled to cast sixty percent (60%) of all the votes of each class of
membership shall constitute a quorum. If the required quorum is not present, other meetings may be called subject to the same notice requirement, and the required quorum at each such subsequent meeting shall be one-half (½) of the
required quorum at the preceding meeting. No such subsequent meeting shall be held more than 60 days following the preceding meeting. Section 6. Uniform Rate of Assessment.
Annual and special assessments must be fixed at a uniform rate for all Assessment Units sufficient to meet the expected needs of the Association; provided, however, that notwithstanding
anything to the contrary contained in this Declaration, the rate of annual and special assessments set for the Lots, Condominium Units, Apartment Units and Commercial Areas owned by Declarant and/or Participating Builders which
are neither leased, nor rented, nor otherwise residentially or commercially occupied shall be fixed at one-quarter (¼) of the assessment rate for the other Lots, Condominium Units, Apartment Units and Commercial Areas. In the event
that, prior to the termination of the Declarant's reserved right to appoint the Board of Directors of the Association, assessments for annual common expenses, exclusive of those amounts held by the Association for an adequate
reserve fund and for working capital, fail to equal or exceed the actual expenses incurred by the Association during any particular annual assessment period because of such partial Declarant and/or Participating Builder assessment,
then Declarant and all Participating Builders shall collectively pay a sufficient amount, up to the amount of full parity
on such assessment, to the Association to meet any such shortfall so long as (a) written notice must be given by the
Association within sixty (60) days following the termination of the then current fiscal year of the Association at the
time of the termination of Declarant's reserved right to appoint the Board of Directors of the Association, but in no
event more than one (1) year following the termination of such reserved right to appoint the Board of Directors of the
Association, and (b) Declarant and all Participating Builders shall have no obligation for any such shortfall caused by
expenditures for capital improvements, or by any decrease in assessments, including without limitation, the levying of any assessment in an amount less than the maximum for any common expense assessment period, which amount is
established subsequent to the termination of the Declarant's reserved right to appoint the Board of Directors of the Association, unless the same has previously been approved in writing by Declarant; provided, however, that at the
time any Lot, Condominium Unit, Apartment Unit or Commercial Area owned by Declarant and/or a Participating Builder and is leased, rented or otherwise residentially or commercially occupied, that Lot, Condominium Unit,
Apartment Unit or Commercial Area shall be assessed at the uniform rate of assessment for privately owned Lots, Condominium Units, Apartment Units or Commercial Areas. In the event there are any Participating Builders or there
is more than one Declarant, then, subject to the conditions hereinabove stated, each such Declarant and/or Participating Builder shall pay a pro rata share of the amount necessary to meet each such shortfall in Association
assessments, up to the amount of full parity on such assessments, such pro rata share to be based on the amount of assessments due at such lesser rate for Lots, Condominium Units, Apartment Units or Commercial Areas owned by
each Declarant and Participating Builder, compared with the amount of assessments due at such lesser rate from the Declarant and all Participating Builders during the applicable annual assessment period. Section 7.
Date of Commencement of Annual Assessments. The initial annual assessment shall commence on the first day of the month following the leasing, renting or other residential occupancy of the first Residence within the
Properties and the second and each subsequent annual assessment period shall correspond with the fiscal year of the Association. The annual assessments may be made due and payable in twelve monthly installments per annum on
such dates as determined by the Board of Directors of the Association, provided that the first annual assessment shall be adjusted according to the number of months in the first annual assessment year. Any Owner purchasing a
Lot, Condominium Unit, Apartment Building or Commercial Area between installment due dates shall pay a pro rata share of the last installment due. Section 8.
Effect of Nonpayment of Assessments; Remedies of the Association. Any assessment or portion thereof which is not paid when due shall be delinquent. Any assessment or portion thereof which is not paid within ten (10)
days after the due date shall bear interest from the due date at the rate of eighteen percent (18%) per annum and the Association may assess a monthly late charge thereon in such reasonable amounts as determined from time to time
by the Association. The Association may bring an action at law against the Owner personally obligated to pay the same, or foreclose the lien against such Owner's Lot, Condominium Unit, Apartment Building or Commercial Area,
and in the event a judgment is obtained, such judgment shall include interest and late charges on the assessment, as
above provided, and a reasonable attorney's fee to be fixed by the court, together with the costs of the action. No Owner may waive or otherwise escape liability for the assessments provided for herein by non-use of the
Maintenance Property or abandonment of his Lot, Condominium Unit, Apartment Building or Commercial Area. Section 9. Working Capital.
The Association or Declarant shall require the first Owner of each Lot and Condominium Unit (other than Declarant or a Participating Builder), who purchases that Lot or Condominium Unit from Declarant or
a Participating Builder, to make a non-refundable contribution to capital to the Association in an amount equal to two (2) times the monthly installment of the annual common expense assessment effective at the time of conveyance of
the Lot or Condominium Unit; provided, however, that the Owner of any Apartment Building or Commercial Area within the Properties shall make such contribution for each Assessment Unit within such Apartment Building or
Commercial Area at the time of the conveyance of the Maintenance Property to the Association, or at the time when the Apartment Building or Commercial Area is annexed to the Properties, whichever occur last. All such contributions
shall be held in a segregated account by the Association for its use and benefit as it deems desirable, including but not limited to the use to insure that the Board of Directors of the Association will have cash available to meet
unforseen expenditures, or to acquire additional equipment or services deemed necessary or desirable by the Board. Such deposit shall not relieve an Owner from making the regular payment of assessments as the same become due.
Upon the transfer of his Lot, Condominium Unit, Apartment Building or Commercial Area, an Owner shall be entitled
to a credit from his transferee in an amount equal to the unused portion of the first private Owner's payment into the working capital fund which remains in the fund. Section 10.
Subordination of the Lien to Mortgages. The lien of the assessments provided for herein, including without limitation any fees, costs, late charges or interest which may be levied by the Association in connection with
unpaid assessments, shall be subordinate to the lien of any First Mortgage. Sale or transfer of any Lot, Condominium
Unit, Apartment Building or Commercial Area shall not affect the liens for said assessment charges except that sale or
transfer of any Lot. Condominium Unit, Apartment Building or Commercial Area, pursuant to foreclosure of any such
First Mortgage or any such executory land sales contract, or any proceeding in lieu thereof, including deed in lieu of
foreclosure, shall extinguish the lien of assessments charges which became due prior to any such sale or transfer, or
foreclosure, or any proceeding in lieu thereof, including deed in lieu of foreclosure; provided however, that any such delinquent assessment charges, including interest, late charges, costs and reasonable attorney's fees, which are
extinguished as provided herein may be reallocated and assessed to all Assessment Units as a common expense. No
such sale, transfer, foreclosure, or any proceeding in lieu thereof, including deed in lieu of foreclosure shall relieve any Lot, Condominium Unit, Apartment Building or Commercial Area from liability for any assessment charges
thereafter becoming due, nor from the lien thereof; provided, however, that in the event of foreclosure of a First Mortgage or the taking of a deed in lieu thereof, such First Mortgagee shall not be liable for unpaid assessments or
other charges which accrue prior to the acquisition of title to the Lot, Condominium Unit, Apartment Building or Commercial Area in question by such First Mortgagee. ARTICLE V
INSURANCE Section 1. Insurance on Maintenance Property. The Association shall maintain insurance covering all insurable
improvements located or constructed upon the Maintenance Property. The Association shall maintain the following types of insurance, to the extent that such insurance is reasonably available, considering the availability, cost and
risk coverage provided by such insurance:
(a) A policy of property insurance covering all insurable improvements located on the Maintenance Property, with a "Replacement Cost Endorsement" providing that any claim shall be settled on a full replacement cost
basis without deduction for depreciation, and including an "Inflation Guard Endorsement" and an "Agreed
Amount Endorsement." The Association may also purchase a "Demolition Endorsement,' an "Increased Cost
of Construction Endorsement," a "Contingent Liability from Operation of Building Laws Endorsement" or the equivalent, and/or coverage on personal property owned by the Association. Such insurance as maintained
by the Association pursuant to this subsection shall afford protection against at least the following: (1) loss or damage by fire and other perils normally covered by the standard extended coverage endorsement; and
(2) such other risks as shall customarily be covered with respect to projects similar in construction, location and use, including all perils normally covered by the standard all risk endorsement, where such is available.
(b) A comprehensive policy of public liability insurance covering all of the Maintenance Property, insuring the Association in an amount not less than $1,000,000 covering bodily injury, including death of persons,
personal injury and property damage liability arising out of a single occurrence. Such coverage shall include, without limitation, legal liability of the insureds for property damage, bodily injuries and deaths of persons in
connection with the operation, maintenance or use of the Maintenance Property, legal liability arising out of law suits related to employment contracts of the Association, and protection against liability for non-owned
and hired automobile; such coverage may also include, if applicable, garagekeeper's liability, liability for property of others, host liquor liability, water damage liability, contractual liability, workmen's compensation
insurance for employees of the Association, and such other risks as shall customarily be covered with respect to projects similar in construction, location, and use.
(c) A policy providing adequate fidelity coverage or fidelity bonds to protect against dishonest acts on the part of officers, directors, trustees and employees of the Association and all others who handle or are
responsible for handling funds of the Association. Such fidelity coverage or bonds shall meet the following requirements: (1) all such fidelity coverage or bonds shall name the Association as an obligee;
(2) such fidelity coverage or bonds shall contain waivers of any defense based upon the exclusion of person who serve without compensation from any definition of "employee" or similar expression.
(d) If the Maintenance Property or any portion thereof, is located within an area identified by the Federal Emergency Management Agency as having special flood hazards, and flood insurance coverage on the
Maintenance Property has been made available under the National Flood Insurance Program, then such a policy of flood insurance on the Maintenance Property in an amount at least equal to the lesser of:
(1) the maximum coverage available under the National Flood Insurance Program for all buildings and other insurable property located within a designated flood hazard area; or
(2) one hundred percent (100%) of current replacement cost of all buildings and other insurable property located within a designated flood hazard area.
(e) A policy providing errors and omissions of officers and directors of the Association, in such amounts and containing such provisions as may from time to time be deemed necessary or desirable by the Board of
Directors of the Association.
All such policies of insurance shall contain waivers of subrogation and waivers of any defense based on invalidity arising from any acts of a member of the Association and shall provide that the policies may not be canceled or
substantially modified without at least thirty (30) days' prior written notice to the insured, as well as to the First
Mortgagees of each Lot. Duplicate originals of all policies and renewals thereof, together with proof of payment of premiums, shall be delivered to any first mortgagee of a Lot, Condominium Unit, Apartment Building or Commercial
Area upon written request. The insurance shall be carried in blanket forms naming the Association, as the insured, as trustee and attorney in fact for all Owners, and each Owner shall be an insured person under such policies with
respect to liability arising out of any such Owner's membership in the Association. Section 2. Damage to Maintenance Property. In the event of damage to or destruction of all or a portion of the
Maintenance Property due to fire or other adversity or disaster, the insurance proceeds, if sufficient to reconstruct or
repair the damage, shall be applied by the Association to such reconstruction and repair. If the insurance proceeds with respect to such Maintenance Property damage or destruction are insufficient to repair and reconstruct the
damage or destruction, the Association shall cause such Maintenance Property to be promptly repaired and reconstructed, using the insurance proceeds and the proceeds of a special assessment which, notwithstanding the
provisions of Article IV, Section 4 to the contrary, may be levied without a vote of the Members. The amount of such assessment shall be equal to the amount by which the cost of repair or reconstruction exceeds the sum of the
insurance proceeds available and shall be assessed equally for each Assessment Unit. The assessment provided for herein shall be a debt of each Owner and a lien on such Owner's Lot, Condominium Unit Apartment Building or
Commercial Area and the improvements thereon, and shall be enforced and collected as provided in Article IV hereof. Section 3. Association Insurance as Primary Coverage.
If at the time of any loss under any policy which is in the name of the Association, there is other insurance in the name of any Owner and such Owners policy covers the same
property or loss, or any portion thereof, which is covered by such Association policy, such Association policy shall be primary insurance not contributing with any of such other insurance. Section 4.
Annual Review of Insurance Policies. All insurance policies carried by the Association shall be reviewed at lease annually by the Board of Directors of the Association to ascertain that the coverage provided by such
policies adequately covers those risks insured by the Association. ARTICLE VI RESTRICTIONS Section 1. General Plan.
It is the intention of the Declarant to establish and impose a general plan for the improvement, development, and use of the Maintenance Property, in order to enhance the value, desirability, and attractiveness of the Properties. Section 2. Restrictions Imposed. The Declarant hereby declares that the Maintenance Property shall be held and shall
henceforth be sold, conveyed, used, improved, owned, and hypothecated upon, subject to the following provisions, conditions, limitations, restrictions, agreements, and covenants. Section 3.
Use of Maintenance Property.
(a) No use shall be made of the Maintenance Property which will in any manner violate the statutes, rules or regulations of any governmental authority having jurisdiction over the Maintenance Property.
(b) No Owner shall place any structure whatsoever upon the Maintenance Property, except as provided herein, nor shall any Owner engage in any activity which will temporarily or permanently deny free access to
any part of the Maintenance Property to all Members. (c) The use of the Maintenance Property shall be subject to such rules and regulations as may be adopted from time to time by the Board of Directors of the Association.
(d) No use shall ever be made of the Maintenance Property which will deny ingress and egress to those Owners having access to a public street or to their Lots, Condominium Units, Apartment Buildings or
Commercial Areas only over Maintenance Property, and said rights of ingress and egress to all Lots are hereby expressly granted.
Section 4. Declarant's Use. Notwithstanding anything to the contrary contained in this Declaration, it shall be
expressly permissible and proper for Declarant and any Participating Builder, their employees, agents, and contractors, to perform such reasonable activities, and to maintain upon portions of the Maintenance Property, such
facilities as Declarant or such Participating Builder deems reasonably necessary or incidental to the construction and sale of Lots, Condominium Units, Apartment Buildings or Commercial Areas and development of the Properties,
specifically including without limiting the generality of the foregoing, maintaining business offices, storage areas, construction yards and equipment, signs, model units, sales offices, parking areas and lighting facilities.
Notwithstanding the foregoing, Declarant shall not perform any activity or maintain any facility on any portion of the Maintenance Property in such a way as to unreasonably interfere with or disturb any Owner, or to unreasonably
interfere with use, enjoyment or access of such Owner, his family members, guests or invitees of and to his Lot, Condominium Unit, Apartment Building or Commercial Area, parking areas, any facilities existing upon the
Maintenance Property, and to a public right of way. Section 5. Household Pets. No animals, livestock, poultry or bees, of any kind, shall be raised, bred, kept or boarded in
or on the Maintenance Property; provided, however, that the Owners of Lots, Condominium Units or Apartment Buildings may take such animals upon the Maintenance Property if such animals are controlled on a leash or similar
device, subject to the obligation of each such Owner to immediately remove and dispose of all of such animal's solid bodily wastes and to the rules and regulations of the Association. Section 6.
Temporary Structures. Except as hereinafter provided, no structure of a temporary character, including but not limited to a house trailer, tent, shack, garage, or outbuilding shall be placed or erected upon the Maintenance
Property at any time prior to its being fully completed in accordance with approved plans, nor shall any improvements located on the Maintenance Property, when completed, be in any manner used until made to comply with all
requirements, conditions, and restrictions herein set forth; provided, however, that during the actual construction or
alteration of improvements, necessary temporary structures for storage of materials may be erected and maintained by the person doing such work. The work of constructing, altering, or remodeling any improvement on the Maintenance
Property shall be prosecuted diligently from the commencement thereof until the completion thereof. Section 7. Signs and Advertising.
No signs, advertising, billboards, unsightly objects or nuisances of any kind shall be placed, erected or permitted to remain in or on the Maintenance Property, without the prior written approval of the
Association. Notwithstanding the foregoing, reasonable signs, advertisings, or billboards used by the Declarant or any Participating Builder in connection with its sale or rental of Lots, Condominium Units, Apartment Buildings or
Commercial Areas or otherwise in connection with its development of the Properties, shall be permissible, provided that such use by the Declarant shall not interfere with the Owners' use and enjoyment of the Maintenance Property,
with their Lot, Condominium Unit, Apartment Building or Commercial Area, or with their ingress and egress from a public way to the Maintenance Property, or their Lot, Condominium Unit, Apartment Building or Commercial Area. Section 8. Miscellaneous Structures. No tanks of any kind, either elevated or buried, shall be erected, placed or permitted upon the Maintenance Property. Section 9.
Vehicular Parking, Storage and Repairs.
(a) No portion of the Maintenance Property, including but not limited to streets, drives, or parking areas, unless specifically designated by the Association therefor, shall be used as a parking, storage, display, or
accommodation area for any type of house trailer, camping trailer, boat trailer, hauling trailer, running gear, boat, or accessories thereto, truck larger than 3/4 ton, or self-contained motorized recreational vehicle, except
as a temporary expedience for loading, delivery, or emergency. This restriction, however, shall not restrict trucks or other commercial vehicles upon the Maintenance Property which are necessary for the construction
of Residences or the maintenance of the Maintenance Property, Lots, Condominium Units, Apartment Buildings or Commercial Areas or any improvements located on the Properties.
(b) No abandoned or inoperable automobiles or vehicles of any kind shall be stored or parked on the Maintenance Property. An "abandoned or inoperable vehicle" shall be defined as any automobile, truck,
motorcycle, boat, trailer, camper, housetrailer, self-contained motorized recreational vehicle, or other similar vehicle, which has not been driven under its own propulsion for a period of two (2) weeks or longer, or which
does not have an operable propulsion system installed therein; provided, however, that otherwise permitted vehicles parked by Owners while on vacation or during a period of illness shall not constitute abandoned or
inoperable vehicles. In the event the Association shall determine that a vehicle is an abandoned or inoperable vehicle, then a written notice describing said vehicle shall be personally delivered to the owner thereof (if
such owner can be reasonably ascertained) or shall be conspicuously placed upon the vehicle (if the owner thereof cannot be reasonably ascertained), and if the abandoned or inoperable vehicle is not removed within
72 hours thereafter, the Association shall have the right to remove the vehicle at the sole expense of the owner thereof.
(c) No activity such as, but not limited to, maintenance, repair, rebuilding, dismantling, repainting, or servicing of any kind of vehicles, trailers or boats, may be performed on the Maintenance Property.
Section 10. Nuisances. No nuisance shall be permitted on the Maintenance Property, nor any use or practice which is
the source of annoyance to residents or which interferes with the peaceful enjoyment or possession and proper use
of the Maintenance Property, or any portion thereof. As used herein, the term "nuisance" shall not include any activities of Declarant or any Participating Builder which are reasonably necessary to the development of and
construction on the Properties. Such activities of the Declarant or a Participating Builder shall not unreasonably interfere with any Owner's use and enjoyment of his Lot, Condominium Unit, Apartment Building or Commercial Area
or with any Owner's ingress and egress to or from his Lot, Condominium Unit, Apartment Building or Commercial Area, and a public way. The Maintenance Property and all portions thereof shall be kept in a clean and sanitary
condition, and no rubbish, refuse, litter, junk or garbage shall be allowed to accumulate, nor any fire hazard to exist.
Further, no immoral, improper, offensive or unlawful use shall be permitted or made of the Maintenance Property or
any portion thereof. All valid laws, ordinances and regulations of all governmental bodies having jurisdiction over the Maintenance Property or any portion thereof, shall be observed. Section 11.
Underground Utility Lines. All electric, television, radio, and telephone line installations and connections on the Maintenance Property shall be placed underground, except that during the construction of a Residence the
contractor or builder may install a temporary overhead utility line which shall be promptly removed upon completion of construction. Section 12. No Hazardous Activities.
No activities shall be conducted on the Maintenance Property or within improvements constructed on the Maintenance Property which are or might be unsafe or hazardous to any person or
property. Without limiting the generality of the foregoing, no firearms shall be discharged upon any of the Maintenance Property and no open fires shall be lighted or permitted on the Maintenance property except in a
contained barbecue unit while attended and in use for cooking purposes or within a safe and well-designed interior fireplace, or except such campfires or picnic fires on property designated for such use by the Association. Section 13. No Annoying Light, Sounds, or Odors. No light shall be emitted from the Maintenance Property which is
unreasonably bright or causes unreasonable glare; no sound shall be emitted from the Maintenance Property which is unreasonably loud or annoying; and no odor shall be emitted from the Maintenance Property which is noxious or
offensive to others. Notwithstanding the foregoing, all owners agree that tennis court lights and parking lot lights shall be permitted on the Maintenance Property. Section 14.
Garbage and Refuse Disposal. No garbage, refuse, rubbish, or cuttings shall be deposited on any street, the Maintenance Property, unless placed in a suitable container suitably located, solely for the purpose of garbage
pickup, as provided by the Association. All equipment for the storage or disposal of such materials shall be kept in
clean and sanitary condition. No garbage or trash cans or receptacles shall be maintained in an exposed or unsightly manner. Section 15. Rules and Regulations.
Rules and regulations concerning and governing use of the Maintenance Property, may be adopted, amended and repealed, from time to time by the Board of Directors of the Association, and
the Board of Directors may establish and enforce penalties for the infraction thereof, including without limitation the
levying and collecting of fines for the violation of any of such rules and regulations or for the violation of any provision of this Declaration, the Articles of Incorporation or Bylaws of this Association; provided, however, that
copies of such rules and regulations shall be furnished to Owners and shall be uniform and non-discriminatory except
to the extent that such rules and regulations concern discretionary rights given to the Association or its Board of Directors in this Declaration, the Articles of Incorporation or Bylaws of the Association. ARTICLE VII EASEMENTS Section 1. Easement for Encroachments. If any portion of a Residence or improvements located within a Commercial
Area encroaches upon the Maintenance Property, including any future encroachments arising or resulting from the repair or reconstruction of a Residence or improvements within a Commercial Area subsequent to their damage,
destruction or condemnation, a valid easement on the surface and for subsurface support below such surface and for the maintenance of same, so long as it stands, shall and does exist for such encroachment. Section 2.
Maintenance Easement. An easement is hereby granted to the Association, its officers, agents, employees and assigns upon, across, over, in and under the Maintenance Property and a right to make such use of the
Maintenance Property, as may be necessary or appropriate to perform the duties and functions which it is obligated or permitted to perform pursuant to this Declaration. Section 3. Utilities.
There is hereby created a blanket easement upon, |
