HomeMy WebLinkAboutCUNNINGHAM CORNER PUD - Filed OA-OTHER AGREEMENTS - 2003-07-31A
CREDIT AGREEMENT
THIS AGREEMENT, is executed this ) day of September,
1986, by and between Metcalf, Ltd. (Metcalf) and the City of
Fort Collins, Colorado (City).
WITNESSETH
WHEREAS, Metcalf is the owner/developer of Chestnut Village
at Cunningham Corner PUD and Five Oaks Village at Cunningham
Corner PUD (the Property); and
WHEREAS, as a result of Metcalf's construction of certain
storm drainage facilities with respect to the development of
Five Oaks Village at Cunningham Corner PUD, and as outlined in
Exhibit "B" of the Development Agreement of said PUD, Metcalf
is entitled to storm drainage credits pursuant to Section 93-11
of the Code of the City of Fort Collins; and
WHEREAS, the parties desire to provide for certain limited
transferability of said credits.
NOW THEREFORE, in consideration of the mutual covenants of
the parties, and other good and valuable consideration the
receipt and adequacy of which is hereby acknowledged, it is
agreed as follows:
1. Any credits to which Metcalf is entitled pursuant to
Section 93-11 of the Code of the City of Fort Collins with
respect to storm drainage improvements constructed pursuant to
the development requirements for the property are freely trans-
ferable between Chestnut Village at Cunningham Corner PUD and
Five Oaks Village at Cunningham Corner PUD and may be used to
satisfy storm drainage basin fees applicable to either PUD to
the extent that credits are available.
Notwithstanding the foregoing, in the event that the devel-
oper should transfer or convey, either voluntarily or through
operation of law, either or both Planned Unit Developments to
third parties, any unused credits shall be applied only to
basin fees applicable to the Planned Unit Development from
which the credit was originally earned.
2. This Agreement shall constitute the entire understand-
ing of the parties with regard to the subject matter hereof and
may be modified only in writing executed by the parties. This
Agreement shall be deemed to run with the land and shall inure
to the benefit of the parties, their heirs, successors, repre-
sentatives and assigns.
necessary to the newly elected Directors in order to legally
constitute such meeting.
8. Regular Meetings. Regular meetings of the Board of Direc-
tors may be called by the President or a majority of the Directors
and may be held at such time and place as shall be determined, from
time to time, by a majority of the Directors; but at least one such
meeting shall be held during each calendar year. Notice of regular
meetings of the Board of Directors shall be given to each Director,
personally or by mail, telephone, or telegraph, at least three (3)
days prior to the day named for such meeting, which notice shall
state the time and place of said meeting.
4. Special Meetings. Special meetings of the Board may be
called by the President on three (3) days' notice to each Director,
given personally or by mail, telephone, or telegraph, which notice
shall state the time, place and purpose of the meeting. Special
meetings of the Board of Directors shall be called by the President
or Secretary in like manner and on like notice on the written
request of a majority of the Directors.
10. Waiver of Notice. Before or at any meeting of the Board
of Directors, any Director may,.in writing, waive notice of such
meeting; and such waiver shall be deemed equivalent to the giving
of such notice. Attendance by a Director at any meeting of the
Board shall constitute a waiver of notice by him of the time and
place thereof. If all the Directors are present at any meeting of
the Board, no notice shall be required; and any business may be
transacted at such meeting.
11. Board of Directors' Quorum. At all meetings of the Board
of Directors, a majority of the Directors shall constitute a quorum
for the transaction of business; and the acts of the majority of
the Directors present at a meeting at which a quorum is present
shall be the acts of the Board of Directors. If, at any meeting of
the Board of Directors, there shall be less than a quorum present,
the majority of those present may adjourn the meeting from time to
time. If a quorum is present at such adjourned meeting subsequently
held, any business which might have been transacted at the meeting
as originally called may be transacted without further notice.
12. Fidelity Bonds. The Board of Directors may require that
all officers and employees of the Association handling or respon-
sible for Association funds shall furnish adequate fidelity bonds.
The premiums on such bonds shall be paid by the Association.
13. Compensation. No compensation shall be paid to Directors,
as such, for their services. however, any Director may be reim-
bursed for his actual expenses incurred in the performance of his
duties.
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ARTICLE VI
OFFICERS
1. Designation. The Officers of the Association shall be a
President, a Vice President, a Secretary, and a Treasurer, all of
whom shall be elected by and from the Board of Directors, and such
assistant officers as the Board of Directors shall, from time to
time, elect.
2. Election of Officers. The Officers of the Association
shall be elected annually by the Board of Directors at the organi-
zational meeting of each new Board and shall hold office at the
pleasure of the Board. One person may hold concurrently any two
offices provided, however, that the offices of President and
Secretary shall not be held by the same person. The office of Vice
President need not be filled.
3. Removal of Officers. Upon an affirmative vote of a majority
of the members of the Beard of Directors, any Officer may be removed,
either with or without cause, and his successor elected at any
regular meeting of the Board of Directors, or at any special meeting
of the Board of Directors called for such purpose.
4. Vacancies. A vacancy in any office because of death,
resignation, removal,, disqualification, or otherwise may be filled
by a majority vote of the members of the Board of Directors.
S. President. The President shall be the principal executive
officer of the Association, and, subject to the control of the
Directors, shall in general supervise and control all of the busi-
ness and affairs of the Association. lie shall preside at all meet-
ings of the :Board of Directors and members. lie shall present, at
each Annual Meeting of the members, a report of the conditions of
the business of the Association. He shall cause to be called Regu-
lar and Special Meetings of the members and Directors in accordance
with these By -Laws. Ile shall appoint and remove, employ and dis-
charge, and fix the compensation of all employees of the Associa-
tion and shall have the power to appoint committees from among the
members, from time to time, as he may, in his discretion, decide is
appropriate to assist in the conduct of the affairs of the Associa-
tion. He shall sign and make all contracts and agreements in the
name of the Association. lie shall sign checks, notes, drafts,
warrants, or other orders for the payment of money duly drawn by
the Treasurer, and any deeds, mortgages, bonds, or other instru-
ments which are required to be executed, except in cases where the
signing and execution thereof shall be expressly delegated by the
Directors to some other officer or agent of the Association, or
shall be required by law or by the Declaration to be otherwise
signed or executed. Ile shall enforce these By -Laws and perform all
of the duties incident to the position and office and which are
required by law.
0
6. Vice -President. The Vice -President shall have the powers
and authority and shall perform all the functions and duties of the
President in the absence of the President or his inability, for any
reason, to exercise such powers and functions or perform such
duties.
7. Secretary. The Secretary shall keep all the minutes of
the meetings of the Board of Directors and the minutes of all
meetings of the Association; he shall have charge of such Looks and
Rapers as the Board of Directors may direct; and he shall, in
general, perform all the duties incident to the office of Secretary.
The Secretary shall compile and keep up-to-date at the princi-
jDal office, of the Association a complete list of members and their
last known addresses as shown on the records of the Association.
Such list shall also show opposite each member's name the number or
other appropriate designation of the Lot owned by such member.
Such list shall be open to inspection by members and other persons
lawfully entitled to inspect the same at reasonable times during
business hours.
S. Treasurer. The Treasurer shall have the responsibility
for Association funds and shall'be responsible for keeping full and
accurate accounts of all receipts and disbursements in books
belonging to the Association. He shall be responsible for the
deposit of all monies and other valuables in the name, and to the
credit, of the Association in such accounts and depositories as
may, from time to time, be designated by the Board of Directors.
Withdrawals shall be made from such accounts by checks signed by
the President, Treasurer, or such other person as the Board of
Directors may designate. !Ie shall, in'general, perform all of the
duties incident to the office of Treasurer.
ARTICLE VII
INDE14NIFICATION OF OFFICERS A14D DIRECTORS
The Association shall indemnify every Director or Officer, his
heirs, executors, and a:3ministrators, against all loss, costs, and
expenses, including counsel fees, reasonably incurred by him in
connection with any action, suit, or proceeding to which he may be
made a party by reason of his being or having been a Director or
Officer of the Association, except as to matters as to which he
shall be finally adjudged in such action, suit, or proceeding to be
liable for gross negligence or willful misconduct. In the event of
a settlement:, indemnification shall be provided only in connection
with such matters covered by the settlement as to which the Asso-
ciation is advised by counsel that the person to be indemnified has
not been guilty of gross negligence or willful misconduct in the
performance of his duty as such Director or Officer in relation to
the matter involved. The foregoing rights shall not be exclusive
of the other rights to.which such Director or officer may be
entitled. All liability, loss, damage, costs, and expense incurred
or suffered by the Association by reason of or arising out of or in
connection with the foregoing indemnification provisions shall be
treated and handled by the Association as a Common Expense; provided,
however, that nothing contained in this Article VII shall be deemed
to obligate the Association to indemnify any member or Owner who is
or has been a Director or Officer of the Association with respect
to any duties or obligations assumed or liabilities incurred by him
under and by virtue of the Declaration as member or Owner.
ARTICLE VIII
BILLS, NOTES, CHECKS, AND OTHER NEGOTIABLE INSTRUMENTS
All bills payable, notes, checks, or other negotiable instru-
ments of the Association shall be made in the name of the Associa-
tion. Cheeks shall be signed by either the President or 'Treasurer
of the Association and notes or other negotiable instruments of the
Association shall be signed by the President and counter -signed by
the Secretary. No officer or agent of the Association, either
singly or jointly with others, shall have the power to make any
bills payable, note, check, draft, or warrant, or other negotiable
instruments, or endorse the same in the name of the Association, or
contract or cause to be contracted any debt or liability in the
name of or in behalf of the Association, except as expressly pre-
scribed and provided by the Board of Directors.
ARTICLE IX
AI -I E N DIME IJ T
These By -Laws may be amended by vote of a majority of the
votes entitled to be cast by members present in person or by proxy
at an Annual Meeting or.Special Meeting constituted for such purpose.
ARTICLE X
EVIDENCE OF OWNERSHIP, REGISTRATION OF MAILING
ADDRESS, AND REQUIRED PROXIES
1. Proof of Ownership. Any person or other entity, upon
becoming an Owner of a I,ot, shall furnish to the Board of Directors
a photocopy or a certified copy of the deed or contract vesting
that person with an interest of ownership, which instrument shall
remain in the files of the Association.
2. Registration of Mailing Address. The Owner or Owners of
each Lot shall have one registered mailing address to be used by
the Association for mailing of statements of assessment, notices,
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demands, and all other communications; and such registered address
shall be the only mailing address of a person or persons, firm,
corporation, partnership, association, or other legal entity or any
combination thereof to be used by the Association. Such registered
address shall. be furnished by such Owner or Owners to the Secretary
within five 1:5) days after an ownership interest in a Lot is acquired,
or after a change of address; and such registration shall be in
written form and signed by all the Owners of the Lot or by such
person as is authorized by law or designated by the other Owners to
represent the interests of the Owners thereof.
3. Required Proxies. If ownership of a Lot is held by more
than one person or by a firm, corporation, partnership, associa-
tion, or other legal entity, or any combination thereof, such
Owners shall execute a written statement appointing and authorizing
one person or alternate persons to attend all Annual Meetings and
Special Meetings of members and there at to cast whatever vote the
members themselves might cast if they were personally present, and
to sign all petitions, waivers, and other documents as herein
provided, and otherwise to act as their representative. Such proxy
(or written statement) shall be effective and remain in force
unless voluntarily revoked, amended, or sooner terminated by
operation of law provided, however, that within thirty (30) days
after such revocation, amendment, or termination, the Owners shall
reappoint and authorize one person or alternate persons to act as
their representative as herein provided. The requirements herein
contained in this Article shall be first met before a member shall
be deemed in good standing and entitled to vote at any Annual
Meeting or Special Meeting of members.
ARTICLE XI
This Association is not organized for profit. No member,
member of the Board of Directors,. or Officer, shall receive or
shall be lawfully entitled to receive any pecuniary profit from the
operation thereof; and in no event, shall part of the funds or
assets of the Association be paid as salary or compensation to, or
distributed to, or inure to the benefit of, any member of the Board
of Directors,. Officer, or member of the Association; provided,
however, (1) that reasonable compensation may be paid to any member,
Director, or Officer while acting as an agent or employee of the
Association for services rendered in effecting one or more of the
purposes of the Association, and (2) that any member, Director, or
Officer may, from time to time, be reimbursed for his actual and
reasonable expenses incurred'in connection with the administration
of the affairs of the Association.
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IN WITNESS WHEREOF, the undersigned have hereunto set their
hands this 1,5-- day of 1979.
OF DI„ZECTORS
IL
IL )$ULER$Y
A'f l,i]T-Ti T n7 T "rinV .I
12
D bN Il b I
►,-_o.-ded JUN 1 5'1979v�'.�,�. —�0►
Reception No. 31212s lames P. Thom#h
PG ► 9 9 9,
DECLARATION
OF
EASEMENTS, COVENANTS, CONDITIONS, AND RESTRICTIONS
FOR
CUNNINGHAM CORNER P.U.D.
WHEREAS, Cunningham Corner Partnership, a General Partnership,
hereinafter referred to as "the Developer," is the owner of that
certain parcel of real property located in the County of Larimer,
State of Colorado, legally described on Exhibit "A" attached hereto
and incorporated herein by reference and hereinafter to as "the
Property"; and
WHEREAS, the Developer desire to create a residential community
on the Property with common open spaces for the benefit of said
community; and
WHEREAS, the Developer desires to provide for the maintenance
of the streets, buildings, and common open spaces and desires to
establish certain standards for development of the Property as a
planned residential community by means of protective covenants to
insure the lasting beauty, value and enjoyment of the Property. To
this end, together with such additions as may hereinafter be made
thereto, for the benefit of the Property and the owners thereof,
the Developer desires to adopt, and to subject the Property to the
easements, covenants, conditions, restrictions, charges, and liens
hereinafter :yet forth; and
WHEREAS„ the Developer will incorporate under the laws of the
State of Colorado as a non-profit corporation, the Cunningham
Corner Homeowners' Association, hereinafter referred to as "the
Association"„ for the efficient preservation of the values and
facilities of the community, and will delegate and assign to the
Association the powers and duties of maintaining the streets and
common open spaces, enforcing the covenants and restrictions of
this Declaration, and collecting and disbursing the charges and
assessments hereafter created.
NOW THEREFORE, the Developer hereby publishes and declares
that the Property shall be held, sold, conveyed, transferred,
leased, sub -leased, and occupied subject to the following ease-
ments, covenants, conditions, restrictions, reservations, uses,
locations, and obligations which shall run with the Property and
every portion thereof and shall be binding upon the Developer and
all parties }:laving any right, title, or interest in the Property or
any portion thereof, their heirs, administrators, successors, and
assigns, and shall inure to the benefit of the owners thereof.
ARTICLE I: DEFINITIONS
Section 1: "Plat' shall mean and refer to the recorded sub-
division Plat. of the Cunningham Corner P.U.D., recorded in the
Office of the Clerk and Recorder of the County of Larimer, State of
Colorado, including any amendments thereto or replats thereof.
Section 2: "Development Plan" shall mean and refer to the
Final Development Plan for development of the Property as a Planned �U
Unit Development, as approved by the City Council of the City of
Fort Collins, Colorado. ti
BK I S b 11 PU U I J U
Section 3: "Lot" shall mean and refer to any Lot designated
on the Plat, excluding and excepting the Common Open Spaces.
Section 4: "Building" shall mean and refer to any Building
constructed on a Lot or qroup of Lots as permitted by the Develop-
ment Plan for residential purposes.
Section 5: "Streets" shall mean and refer to all Streets
shown on the Plat. All Streets shall be dedicated on the Plat to
the public, but shall be maintained by the Association until such
time as said Streets have been accepted for maintenance by the City
of Fort Collins, Colorado, or other governmental agency having
jurisdiction over the Property.
SectjLon 6: "Developer" shall mean and refer to Cunningham
Corner Partnership, a General Partnership, or any successor or
assign of Cunningham Corner Partnership, to whom all or substan-
tially all of the interest of Cunningham Corner Partnership, in
the Property, or the right to develop the Property in accordance
with the Development Plan, is assigned.
Section 7: "Owner" shall mean and refer to the record Owner,
whether one (1) or more persons or entities, of any Lot, including
contract purchasers but excluding those having an interest merely
as security for the performance of an obligation.
Section B: "Common Open Spaces" shall mean and refer to all
real property and the improvements presently located or susequently
constructed thereon described and designated on the Plat and in the
Development Plan for the common use and enjoyment of the Owners.
The Developer may retain the legal title to the Common Open Spaces
or any portion thereof, until such time as it has sold all Lots
within the Property. The Developer hereby covenants and agress
that it shall convey all Common Open Spaces to the Association free
and clear of all liens and financial encumbrances upon the sale of
all such Lots by the Developer.
Section 9: "Common Expenses" shall mean and refer to the cost
of maintenance and care of the Streets, Buildings, and Common Open
Spaces which shall include, by way of example and not limitation,
installation and maintenance of common lighting; repairs and reno-
vations of any real or personal property owned by the Association
and any structures located thereon; casualty, public liability, and
other insurance; taxes; special assessments; water charges and
other utility fees; repair, maintenance, and renovation of the
Buildings and Streets; management and administration costs; wages;
legal and accounting fees; operational fees; trash collection
charges; expenses and liabilities incurred by the Association
pursuant to or by reason of this Declaration or the Articles of
Incorporation and By -Laws of the Association; the payment of any
deficit remaining from a previous period; the creation of a reason-
able contingency, reserve, sinking, or surplus fund; other sums
declared Common Expenses by the provisions of this Declaration; and
all other sums lawfully assessed by the Association pursuant to the
Arrticles of Incorporation and By -Laws of the Association.
Section 10: "Mortgage" shall mean and refer to any mortgage
deed, deed of trust or other security instrument creating arlien
against any Lot; and "Mortgagee" shall mean and refer to any
grantee, beneficiary or assignee of a Mortgage.
ARTICLE II: MEMBERSHIP AND VOTING RIGHTS
Section 1: Members. Every Owner shall be a member of the
Association.. Membership shall be appurtenant to and may not be
separated from an ownership interest in any Lot. All members shall
be subject to and shall abide by these covenants, the Articles of
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DIN 10 U t rb IJ `I J I
Incorporation and By -Laws of the Association, and all rules and
regulations adopted by the Board of Directors of the Association
and the Architectural Control Committee pursuant to this Declara-
tion and the Articles of Incorporation and By -Laws of the Associ-
ation. Membership shall pass by operation of law upon the sale of
a Lot which may be by deed or installment land contract. Member-
ship shall terminate upon such sale but such termination shall not
relieve or release any former Owner from any liability or obli-
gation incurred as a result of these covenants or in connection
with membership in the Association nor shall such termination
impair any rights or remedies which the Association or its members
may have against such former Owner as a result of a breach of these
covenants and the obligations incident thereto.
Section 2: Voting Rights. The Association shall have two (2)
classes of voting membership:
Class A: Class A members shall be all Owners of Lots
(excluding the Developer) and shall be entitled to votes equal to
one vote for each Lot owned.
Class B: The Class B member shall be the Developer which
shall be entitled to one vote for each Lot owned within the Property
or votes equal to one (1) more vote than all of t-he votes entitled
to be cast by Class A members, whichever is greater, so long as the
Developer owns any Lot designated on the Plat. Class B Membership
shall cease upon written notice from the Developer to the Association
or upon the conveyance by the Developer of all Lots designated on
the Plat.
When more than one (1) person or entity holds a beneficial
interest in a Lot which shall include an interest by joint tenancy
or tenancy in common, all such persons shall be members of the
Association and shall be subject to these covenants and the Arti-
cles of Incorporation and By -Laws of the Association; but the votes
attributable to such Lot shall be cast as such persons among them-
selves determine; and no division of the votes attributable to such
Lot shall be permitted.
ARTICLE III: COMMON OPEN SPACES
Section 1: Obligations of the Association. The Association,
subject to the rights of the Owners as set forth in this Declara-
tion, shall be responsible for the exclusive management and control
of the Streets, Common Open Spaces, and all improvements thereon,
including furnishings and equipment related thereto, and shall be
responsible for the maintenance and repair of.the Streets and
Common Open Spaces and all improvements thereon, and shall keep the
same in good, clean, attractive, and sanitary condition, order, and
repair.
Section 2: Owners' Easements of Enjoyment. Subject to the
provisions herein, every Owner of a Lot shall have a right and
easement of enjoyment in and to all of the Common Open Spaces which
right and easement shall be appurtenant to and shall pass with
title to every Lot. Any Owner may delegate his right and easement
of enjoyment in and to the Common Open Spaces to members of hiss
family, his guests, invitees, lessees, tenants, and sub -tenants who
shall be subject to the Articles of Incorporation, By -Laws, and
rules and regulations of the Association.
Section 3:: Limitation on Owners' Easements. The Owners'
easements of enjoyment created hereby shall not be exercised in any
manner which substantially interferes with the purposes for which
the Common Open Spaces are provided or with the right and easement
of any other Owner with respect thereto and shall be subject to the
following:
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BKIbbI rbuiir.
A. The right of the Association to establish reasonable
rules and regulations and to charge reasonable admission and other
fees for the use of the Common Open Spaces.
B. The right of the Association to suspend the right of
an Owner to use the Common Open Spaces for any period during which
any assessment against his Lot remains unpaid or for a period not
to exceed sixty (60) days for violation of the rules and regula-
tions of the .Association by the Owner, members of his family, his
guests, invitees, lessees, tenants, or sub -tenants.
C. The right of the Association to dedicate or transfer
all or any part of the Common Open Spaces to any public agency,
authority, or utility for such purposes and subject to such con-
ditions as mazy be agreed by the members. No such dedication or
transfer shall be effective unless approved by two-thirds (2/3) of
the Owners and all of the first Mortgagees.
D. The right of the Association to mortgage all or any
part of the Common Open Spaces for the purpose of making improve-
ments in or repairs to the Common Open Spaces or other property
owned by the Association. In the. event of a default under such
mortgage, the mortgagee shall have the right, after taking posses-
sion of the Common Open Spaces to charge reasonable admission or
other fees as a condition to continued use and enjoyment of the
Common Open Spaces by the members, and, if necessary, to permit
the use and enjoyment of the Common Open Spaces by the general
public until the mortgage debt is satisfied; whereupon the pos-
session of the Common Open Spaces shall be returned to the Associ-
ation and all rights of the members hereunder shall be fully
restored. All first Mortgagees of Lots within the Property may,
jointly or singly, but shall not be required to, pay any unpaid
taxes or other charges which are or may become a lien against the
Common Open Spaces and may pay overdue premiums on hazard insurance
policies, or :secure new hazard insurance coverage on the lapse of
the policy, for the Common Open Spaces, and any first Mortgagees
making such payments shall be owed immediate reimbursement therefor
from the Association.
E. The right of the Association, with the approval of
two-thirds (2/3) of the Owners of Lots and all first Mortgagees, to
sell, transfer, or convey all or any portion of the Common Open
Spaces.
F. The right of the Association to permit members of the
general public to use the Common Open Spaces and to charge such
individuals a reasonable fee for the use of the Common Open Spaces.
Section 4: Use of the Common Open Spaces. No Owner shall
place any structure whatsoever upon the Common Open Spaces, without
the written consent of the Association, nor in any way alter,
damage, or injure the Common Open Spaces. No Owner shall deny,
directly or indirectly, free access to any part of the Common Open
Spaces to any member of the Association or other person entitled to
use the Common Open Spaces. The Association shall have the right
to make a special assessment upon any Lot in the event the Common
Open Spaces or any improvements thereon are damaged or destroyed by
an Owner or arty member of his family, his guests, invitees, lessees,
tenants, or sub -tenants, for the cost of repairing such damage in a
good and workmanlike manner in conformance with the original plans
and specifications of the area involved or as the area may have
been modified subsequently by the Association.
ARTICLE IV: TOWNHOMES'
Section 1: Townhome Maintenance: Portions,'of the Property
are to be developed by constructing Townhomes on adjoining Lots as
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IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first above written.
THE CITY OF FORT COLLINS, COLORADO
a municipalorpora io
City Manager
ATTEST:
)alkv� 1� - ". -
City Clerk
;APPROVE S TO FORM:
istant City Attorney
State of Colorado )
) ss.
County of Larimer )
Subscribed and sworn to before me this 19th day of
Septemher , 19 86 , by Rich Shannon
Witness my hand and official seal.
My commission expires: October 28 1989
IT
otary Public
ATTEST:
--zi
Ronald Lustig, Secr tary
METCALF, Ltd.
By: Sibbald/Lustig Company
General Partner
By:
Thomas Sibbald, President
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dr% I u 0 1 ru u-i %1 .1
described and designated on the Plat and in the Development Plan.
Such Townhome Units shall consist of individual living units on
separate Lots joined with similar units on adjacent Lots by common
walls (hereinafter referred to as "Townhome Units"). The Associ-
ation shall be responsible for the maintenance and care of the
exterior of all Townhome Units. The cost of such maintenance and
repair shall be assessed as a general assessment as hereinafter
provided.
Section 2: Easements. The Association shall have a non-exclusive
right and easement, over and across all Lots upon which Townhome
Units are to be constructed as designated on the Plat and in the
Development Plan, for the purpose of performing exterior maintenance
and repair to such Townhome Units by the Association. The Associa-
tion shall, after reasonable notice to the Owners of such Lots have
the right, exercising due care, to enter upon such Lot and if
necessary, the roof and exterior of any Townhome Unit or other
structure upon such Lots for the purpose of performing exterior
maintenance and repair to the Townhome Units.
Section 3: Common Walls. Owners of Townhome Units shall own
common walls jointly with the Owner of the adjacent Unit, each
having an undivided one-half (1/2) interest in the common wall, and
shall be jointly and equally responsible for the maintenance of the
common wall. No Owner shall undertake any work in his Townhome
Unit which would jeopardize the soundness or safety of the common
walls between his Unit and adjacent Units, reduce the value thereof,
or impair any easement thereon without the consent of the Owners of
the adjacent Units. Structural alterations shall not be made by an
Owner to his Townhome Unit without the prior written consent of the
Board of Directors and the Owners of adjacent Units first having
been obtained. The Association, and each Owner of a Townhome Unit,
shall have an easement, which may be exercised for any Owner by the
Association or its agent, for access through adjacent Townhome
Units, from time to time,.during such reasonable hours as may be
necessary for the maintenace, repair or replacement of all or any
portion of the common wall separating such Units or for making
emergency repairs thereto necessary to prevent damage to either of
the adjacent Townhome Units. Damage to the interior or any part of
A Townhome Unit resulting from the maintenance, repair, emergency
repair or replacement of all or any portion of the common walls
within any Townhome Unit shall be a Common Expense of the Owners of
the Townhome Units sharing such common walls. No diminution or
abatement of the general assessment shall be claimed or allowed for
inconvenience or discomfort arising from the making of repairs or
improvements to common walls or from action taken to comply with
any law, ordinance or other governmental authority. Restoration of
the damaged common wall shall be in substantially the same condi-
tion as it existed prior to the damage.
Section 5: Liens. No labor performed or materials furnished
with the consent of or at the request of an Owner or his agent
shall be the basis for the filing of a lien pursuant to law against
the Lot or other property of an adjacent Lot Owner not expressly
consenting to or requesting the same, and each Owner shall indemnify
and hold adjacent Lot Owners harmless from and against liability or
loss arising from the claim of any lien against the adjacent Lot
Owners, or any part thereof, for labor performed or materials*
furnished in work on such Owner's Lot, except that express consent_
shall be deemed given by the Owner of any Townhome Unit to the
Association in the case of emergency repairs. At the written
request of an adjacent Owner, the Association shall enforce such
indemnity by collecting from the Owner of the Lot on which the
labor was performed and materials furnished the amount necessary to
discharge any such lien and all costs incident thereto, including
reasonable attorneys' fees. If not promptly paid, the Association
may proceed to collect the same in the manner provided herein for
collection of assessments, for the purpose of discharging the lien.
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Section 6: Encroachments. If any part of a Townhome Unit
encroaches or shall hereafter enroach upon an adjacent Lot the
Owner of that Townhome Unit shall and does have an easement for such
encroachment and for the maintenance thereof. Such encroachments
shall not be considered to be encumbrances on adjacent Lots.
Encroachments referred to herein include, but are not limited to,
encroachments caused by error in the original construction of any
Townhome Unit by settling, rising or shifting of the earth, or by
changes in position caused by repair or reconstruction of any such
Townhome Unit.
Section 7: Obsolescence. The Owners of all Townhome Units
within any one Building may agree that the Townhome Units are
obsolete and adopt a plan for the renewal and reconstruction of such
Units, which ;plan shall have the unanimous approval of all first
Mortgagees of record at the time of adoption of such plan. If a
plan for renewal or reconstruction is adopted, the expenses thereof
shall be payable equally by all Owners of the Townhome Units to be
reconstructed.
ARTICLE V: COVENANTS FOR MAINTENANCE; ASSESSMENTS
Section 1: Covenant for Maintenance. The Developer hereby
covenants and each Owner of any Lot by acceptance of a deed thereof,
whether or not it shall be so expressed in such deed, is deemed to
covenant and agree to pay general assessments and special assess-
ments for capital improvements which shall be established and
collected by the Association as hereinafter provided.
Section 2: General Assessments.
A. Purpose of Assessment. The general assessments
levied by the Association shall be used exclusively to promote the
recreation, health, safety, and welfare of the Owners of Lots
within the Property and, in particular, for the improvement, main-
tenance and operation of the Streets, Buildings, Common Open Spaces
and any improvements thereon and for the payment of Common Expenses.
It shall be mandatory for the Board of Directors to establish, out
of the general. assessments, a contingency or reserve fund for the
repair, and maintenance of the Streets, Buildings, Common Open
Spaces and all. improvements located thereon which must be repaired
or replaced periodically.
B. Method of Assessment. The Board of Directors of the
Association shall fix the total general assessment for each year
which assessment shall be sufficient to meet the obligations imposed
upon the Association by this Declaration. The Board shall provide
for collection of annual assessments in monthly installments due in
advance on the first day of each month; provided, however, that upon
default in the payment of any one (1) or more monthly installments,
the entire balance of the annual assessment may be accelerated at
the option of the Association and be declared due and payable in
full. The,Board of Directors shall prepare and deliver or mail to
eAch Owner an itemized annual statement showing the various esti-
mated or actual expenses for which the assessments are made. Any.
Owner or Mortgagee may inspect the Association's records of receipts
and expenditures at convenient weekday business hours. '
C. Basis for Assessment. The amount of the assessment
which shall be paid by each Owner of a Lot shall be determined by
dividing the total general assessment, as determined by the Board
of Directors of the Association, by the total number of Lots within
the Property; and the Owner of each Lot shall pay his proportionate
share of said total general assessment based upon the number of
Lots owned. No amendment to this Declaration shall alter the ratio
of assessments against Lots and Owners as herein established without
the approval of two-thirds (2/3) of the Owners and all first Mortgagees
6K I y b 1 rL; i"i J
D. Commencement of Assessment. The general -'assessment
provided for herein shall commence at the time of conveyance of the
first Lot from the Developer. The Board of Directors of the Asso-
ciation shall. fix the amount of the initial annual assessment as
hereinabove provided.
Section 3: Special Assessments for Capital Improvements. Ir,
addition to the general assessments authorized hereinabove, the
Association may levy in any assessment year a special assessment
applicable to that year and not more than the next four (4) suc-
ceeding years for the purpose of defraying, in whole or in part,
the costs of any construction, reconstruction, repair, or replace-
ment of the Streets or a capital improvement upon the Common Open
Spaces including fixtures and personal property related thereto;
provided, however, that any such assessment shall have the assent
of two-thirds (2/3) of the votes entitled to be cast by members of
the Association. Each Owner shall be assessed his proportionate
share of any special assessments for capital improvements in the
manner provided hereinabove for the apportionment of the general
assessments.
Section 4: Exempt Property. All property dedicated to and
accepted by a local public authority and all property owned by a
charitable or non-profit organization exempt from taxation by the
laws of the United States or the State of Colorado shall be exempt
from the assessments created herein. However, no lands or improve-
ments devoted to residential use shall be exempt from said assess-
ments.
Section 5: Lien for Nonpayment of Assessments. It shall be
the duty of each Owner of a Lot to pay his proportionate share of
the general and special assessments and any and all other assess-
ments levied by the Association when due, and the amount thereof
shall constitute a lien on that Owner's Lot as set forth in the
deed of conveyance to said Owner; and upon the recording of notice
thereof by the Association, such lien shall be constituted upon
such Owner's :interest in said Lot prior to all other liens and
encumbrances, recorded or unrecorded, except (a) taxes, special
assessments, and special taxes theretofore and thereafter levied by
any political subdivision or municipal corporation of this State,
any other state, or federal taxes which by law are a lien on the
interest of such Owner prior to pre-existing recorded encumbrances
thereon, and (b) all sums unpaid on a first Mortgage of record,
including all unpaid obligatory sums as may be provided by such
encumbrance, and including additional advances made thereon prior
to the arising of this lien.
Section 6: Evidence of Lien. To evidence such lien for
unpaid assessments, the Asso— cia ion shall prepare a written notice
setting forth the amount, the name of the Owner of the Lot and a
description of the Lot. Such notice shall be signed on behalf of
the Association by an officer of the Association and shall be
recorded in the Office of the Clerk and Recorder of the County of
Larimer, State of Colorado. Such lien shall attach from the date
of recording'in the Office of the Clerk and Recorder and may be
foreclosed by foreclosure by the Association of the defaulting
Owner's Lot in like manner as mortgages on real property. The lien
provided for herein shall be in favor of the Association and for
the benefit of: all of the members of the Association. In any such
foreclosure, the Owner shall be required to pay all costs and
expenses of such proceedings; the costs, expenses, and attorneys'
fees for filing the notice and claim of lien; and all reasonable
attorneys' fees incurred by the Association in connection with such
foreclosure. The Owner shall also be required to pay to the
Association any assessments due and owing during the period of
foreclosure, and the Association shall be entitled to the appoint-
ment of a receiver to collect the same. The Association, on behalf
of its members, shall have the power to bid on the Lot at`the
foreclosure sale and to acquire, hold, lease, mortgage, and convey
UNIy01 rGU4S6
the same. The Association shall provide each first Mortgagee with
written notice of any default in the payment of any assessment on
such Mortgagees' Lot which is not cured within sixty (60) days.
The Association shall also send to each first Mortgagee a copy of
the notice of lien provided for herein. Any encumbrancer holding a
lien on a Lot may, but shall not be required to, pay any unpaid
assessments due an owing with respect thereto; and upon such
payment, such encumbrancer shall have a lien on such Lot for the
amount paid of the same rank as the lien of his or its encumbrance.
Section 7: Personal Obligation to Pay Assessments. Assess-
ments made by the Association against each Owner of a Lot shall be
the personal and individual obligation of the Owner at the time the
assessment is made. Suit to recover a money judgment for unpaid
assessments shall be maintainable without foreclosing or waiving
the lien securing the same. No owner may exempt himself from
payment of general or special assessments by waiver of the use or
enjoyment of the Common Open Spaces or abandonment of his Lot.
Section 8: Liability of Grantee. The Grantee of a Lot,
except a first Mortgagee who acquires a Lot by foreclosure or by a
deed in lieu of foreclosure, shall be jointly and severally liable
with the grantor for all unpaid 'assessments against the Lot assessed
and due prior to the time of grant or conveyance without prejudice
to the grantees' right to recover from the grantor the amounts paid
by the grantee; provided, however, that upon payment of a reason-
able fee not to exceed Twenty Dollars ($20) and upon written request
any such prospective grantee shall be entitled to a statement from
the Association setting forth the amount of the unpaid assessments,
if any, with respect to the subject Lot the amount of the current
assessment, the period covered by the current assessment, the date
the current assessment comes due, and the amount of any credit for
advance payments or for prepaid items. Said statement shall be
conclusive upon the Association. Unless such request for a state-
ment of indebtedness shall be complied with by the Association
within ten (1.0) days of such request, such grantee shall not be
liable for, nor shall the Lot be conveyed subject to, the lien for
any unpaid assessments against the subject Lot. Any first Mort-
gagee who acquires a Lot by foreclosure of its Mortgage or by deed
in lieu of foreclosure shall acquire title to such Lot free and
clear of any lien for Common Expenses arisinq prior to the date
upon which such first Mortgage receives a deed to the Lot.
Section 9: Assessment Reserve. The Association may require
an Owner, other than the Developer, to deposit with the Association
up to an amount equal to one-fourth (1/4) of the amount of the
estimated annual assessment, which sum shall be held, without
interest, by the Association as a reserve to be used for paying
such Owner's monthly installments and for working capital. Such an
advance payment shall not relieve an Owner from makinq the regular
monthly installment of the general assessments as the same come
due. Upon the transfer of his Lot, an Owner, shall be entitled to a
credit from his assignee or sub -lessee for any unused portion
thereof.
ARTICLE VI: ARCHITECTURAL CONTROL
Section 1: Architectural Control Committee. An Architectural
Control Committee (hereinafter referred to as "the Committee") is
hereby established and shall be composed of Gil Ellerby and Gary
Nordick,whose address for purposes of this Declaration, is 2000
Union Drive, Fort Collins, Colorado. A majority of the Committee
may designate a representative to act for it. In the event of death
or resignation of any member of the Committee, the remaining members
shall have full authority to designate a successor. Neither the
members of the Committee nor its designated representative shall be
entitled to any compensation for services performed pursuant to
this Declaration. Upon the sale by the Developer of all`Lots de-
do I zi u i rb I, 7 J r
signated on the Plat, the members of the Board of Directors of
the Association shall serve as the Architectural Control Committee.
Section 2: Approval. The Committee shall regulate the
external design, appearance, use. location, and maintenance of the
Property and of any improvements thereon. No alterations, repairs,
change of paint colors, excavation, changes in grade, or other work
which in any way alters the exterior of any Lot or the improvements
located thereon, from its natrual or improved state existing on the
date such Lot. was first conveyed by the Developer to an Owner shall be
made or done without the prior approval of the Committee, unless
otherwise expressly provided in this Declaration. No building,
fence, wall, residence, structure or other improvement shall be
erected, constructed, altered, or improved on any Lot until the
construction plans and specifications and a plot plan, showing the
location of the improvement, have been approved by the Committee as
to the quality of workmanship and materials, harmony of external
design with existing structures, location with respect to topo-
graphy, finished grade elevations, and relationship to existing
setback lines. Such plans and specifications shall also include
the exterior surfaces and colors to be used in construction. The
exterior surfaces of all Buildings and other structures shall be
natural earth colors.
In deciding whether to approve or disapprove plans and
specifications submitted to it, the Committee shall use its best
judgment to insure that all improvements, construction, landscap-
ing, and alteration on any portion of the Property conform to and
harmonize with the general plan of development as outlined in the
Development Plan and with other structures presently constructed or
planned for construction with the Property. The Committee may
adoot development guidelines to inform Owners of the specific
standards which will be applied in approving or disapproving pro-
posed construction. Such guidelines may amplify but may not be
less restrictive than the regulations and restrictions stated in
this Declaration. Such guidelines shall include the rules and
regulations of the Committee with respect to the submission of
plans and specifications for approval, the time or times within
which such plas or specifications must be submitted, and may state
such other policies which the Committee will consider in approving
or disapproving proposed construction of, or alternative to, Build-
ings and other structures within the Property.
Section 3: Procedures. An application together with plans
and specifications for any such improvement, alteration, repair,
or construction shall be submitted to the Committee which shall
approve or disapprove such plans and specifications in writing
within thirty (30) days after the submission to the Committee of
all plans and specifications required by the Committee. In the
event the Committee fails to approve or disapprove the plans and
specifications submitted to it within said thirty (30) day period,
then such approval shall not be required and shall be deemed to
have been given. However, no Building or other structure shall be
erected or allowed to remain on any Lot which violates any of the
covenants or -restrictions contained herein. An applicant may
appeal any adverse decision of the Committee to the membership of
the Association which may reverse or modify such decision by a two-
thirds (2/3) vote of all votes entitled to be cast by members.,of
the Association.
Section 4: Building Location. No Building shall be erected,
altered, placed or permitted to remain on any Lot or group of Lots
except as expressly permitted and designated in the Development
Plan. .
ME
DRIUO1 rt;uy1
Section 5: Construction of Buildings. Construction of a
Building upon any Lot or group of Lots as designated on the Plat
and in the Development Plan shall commence within two (2) years from
the date said Lots are first sold or -transferred from the Developer
and shall be completed within a reasonable time thereafter. In the
event construction is not commenced within said two (2) year period,
and completed within a reasonable time thereafter, the Developer
shall have the right to repurchase the Lot from the then Owner of
said Lot at the original purchase price paid by the initial pur-
chaser to the Developer for such Lot without interest thereon.
Section 6: Animals. No animals, livestock or poultry of any
kind shall be raised, bred or kept on any portion of the Property or
on any Lot, except shall dogs weighing thirty-five (35) pounds or
less, cats and other similar household pets, may be kept on any Lot,
provided that. such household pets are not kept, bred or maintained
for any commercial purpose. Such household pets shall be subject to
the rules and regulations adopted by the Association and any govern-
mental ordinances or laws that are applicable to the Property. Dogs
shall be kept. within a fenced area of the Lot or leashed at all.
times when outside such fenced area. Household pets or other
animals constituting a nuisance or kept on a Lot or within the
Property in violation of this Declaration or the rules and regula-
tions of the Association may be ordered removed from the Property by
the Association. A written notice requesting such removal and the
reasons thereof shall be personally served upon the Owner of the Lot
upon which such animals are kept, or sent by registered or certified
mail to the last known address of such Owner as indicated by the
records of the Association (any such notice or other order provided
for herein shall be deemed given when so mailed). Such notice shall
designate a time and place for a hearing before the Board of Directors
to consider the expulsion of such pet or animal from the Property.
The Owner of the Lot and the owner of the pet in question shall have
the right to be present and heard at such hearing. If after such
hearing, the Board of Directors determines that the pet or animal in
question should be removed from the Property, it shall so order
which order shall be personally served upon the Owner of the Lot on
which such pet or animal is kept or sent by registered or certified
mail to the last known address of such Owner as indicated by the
records of the Association. If the Owner shall fail or refuse to
remove such pet or animal within ten (10) days after the personal
delivery or mailing of such order as hereinabove provided, the
Association shall have the right to remove the same without liability
to the owner of the pet or the Owner of the Lot in question and any
expenses incurred in connection with such removal shall be charged
against the Owner of the Lot upon which such animals were kept and
shall be collectible in the same manner as a general or special
assessment upon such Lot as hereinabove provided.
The Association reserves the right to restrict the number,
size, and species of household pets that may be kept or maintained
on any Lot and shall adopt rules and regulations relating to the
presence of such household pets within the Common Open Spaces.
Section 7: Advertising. No advertising, signs, or billboards,
except signs offering a Lot for sale, nor other unsightly objects of
nuisances shall be erected, placed, or permitted to remain in or on
any portion of the Property without the express written consent of
the Committee. No business activity of any kind whatsoever shall be
conducted on any portion of the Property.
Section :B: Mineral Extraction. No oil drilling, oil develop-
ment operations, oil refining, quarrying, mining operations, or
other mineral extraction of any kind shall be conducted on any Lot
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or other portion of the Property by the Developer or any person or
entity acquiring an interest in the Property or a Lot subsequent to
the recording of this Declaration in the Office of the Clerk and
Recorder of Larimer County, Colorado.
Section 9:: Sight Distances at Intersections. No fence, wall,
hedge or shrub planting, which obstructs sight lines at elevations
between two (2) and six (6) feet above the Streets shall be placed
or permitted to remain on any corner Lot within the triangular area
formed by the street property lines and a line connecting them at
points twenty-five feet (25') from the intersection of the street
lines, or, in the case of a rounded property corner, from the
intersection of the street property lines extended except as speci-
fically permitted or required by the City Council of the City of
Fort Collins, Colorado in the Development Plan or any landscape
plan approved for the Property. The same sight -line limitation
shall apply on any Lot within ten (10) feet from the intersection
of a street property line with the edge of a driveway, alley -way,
or Common Open Space area. No trees shall be permitted to remain
within such distances of such intersections unless the foliage line
is maintained at sufficient height to prevent obstruction of such
sight lines.
Section 10: Commercial Vehicles. No commercial vehicles
except pickup trucks as defined by the Committee shall be stored or
parked upon any Lot or other portion of the Property except in a
closed garage or in areas designated by the Committee; nor shall
such vehicles be parked on any Street except while engaged in
transport to or, from a building or other structure.
Section 11.: Unused Vehicles. Unused automobiles or other
vehicles of any kind, including by example and not limitation, farm
equipment, campers, trailers, boats, mobile homes and unused motor-
cycles shall not be stored or parked on any Lot or other portion of
the Property except in a closed garage or in areas designated by
the Committee. The Committee shall have the right to require
berming, fencing or other screening around any such permitted
storage area. Unused vehicles shall not be parked on any Street.
Unused vehicle shall be defined as.any vehicle which has not been
driven under its own propulsion for a period of seventy-two (72)
hours or longer. A written notice requesting such removal and the
reasons thereof shall be personally served upon the Owner of the
vehicle or the Owner of the Lot upon which such unused vehicles are
kept, or sent by registered or certified mail to the last known
address of such Owner as indicated by the records of the Associ-
ation (any such notice or other order provided for herein shall be
deemed given when so mailed). Such notice shall designate a time
and place for a. hearing before the Board of Directors to consider
the expulsion of such unused vehicle from the Property. The Owner
of the Lot and the owner of the unused vehicle in question shall
have the right to be present and heard at such hearing. If after
such hearing, the Board of Directors determines that the unused
vehicle in question should be removed from the Property, it shall
order the Owner of the vehicle or of the Lot in question to remove
said vehicle which order shall be personally served upon the Owner
of the vehicle or the Lot on which such unused vehicle is kept or
sent by registered or certified mail to the last known address of
such Owner as indicated by the records of the Association. If*the
Owner shall fail or refuse to remove such unused vehicle within
seventy-two (72) hours after the personal delivery or mailing of
such order as hereinabove provided, the Association shall have the
right to remove the same without liability to the owner of the.
unused vehicle or the Owner of the Lot in question and any expenses
incurred in connection with such removal shall be charged against
the Owner of the vehicle or the Lot upon which such unused vehicle
was kept and shall be collectible in the same manner as a general
or special assessment upon such Lot as hereinabove provided.
Section 121: Recreational Vehicles. No automobile, pickup truck
motorcycle, mini -bike, moped, snowmobile, or other motor driven vehicle
on10o1 ruiiyb11
may be operated on any portion of the Common Open Spaces for access
to a Lot, recreational purposes or any other purpose.
Section. 13: Garba(;e and Refuse. No Lot or other portion of
the Property may be used or maintained as a dumping ground for
rubbish, trash, garbage, or other waste and the same shall be
disposed of in a sanitary manner. All containers or other equip-
ment for the -storage or disposal of garbage and trash shall be kept
in a clean and sanitary condition. Trash containers for each Lot
shall be kept within its appurtenant garage or other area desig-
nated by the Committee except during days designated for pickup and
disposal. The Committee shall have the right to require berming,
fencing or other screening around any such permitted storage area.
The burning of trash in outside incinerators, barbeque pits, or
other structures is prohibited.
Section 14: Temporary Structures. No structure of a tem-
porary character, trailer, mobile home, basement, tent, camper,
shack, garage, or accessory building shall be used on any Lot for
human habitation during construction of a Building or at any other
time.
Section 15: Storage. I70 tanks for the storage of gas, fuel
oil, or other matter shall be erected, placed or permitted on any
Lot. No clothesline equipment, service yards, wood piles, or
storage areas shall be permitted on any Lot or other portion of the
Property without the approval of the Committee which may require
enclosures such as privacy fences or other types of screening such
as landscaping and berming, so as to conceal such areas from the
view of neighboring Lots or adjacent Streets.
Section 16: Lot Lighting. The Committee may adopt appro-
priate standards for the liyhting of all Lots in conformance with
the Development Plan. No exterior yard lights shall be permitted
on any Lot which are offensive to neighboring Lot Owners.
Section 17: Resubdivision. No Lot shall be resubdivided into
smaller Lots nor conveyed or encumbered in any less than the full
original dimensions as indicated on the Plat. This restriction
shall not prevent the conveyance or encumbrance of adjoining or
contiguous Lots or parts thereof in such manner as to create par-
cels of land having a greater street frontage than the street
frontage of either of the Lots shown on the Plat. Nothing herein
contained shall prevent the dedication or conveyance of portions of
Lots for additional easements for public utilities, nor prevent the
Developer from replatting all or any portion of the Property.
Section 18: Maintenance of Lots. Any Building completed on
any Lot or group of Lots betweeen May 1st and September lst of any
year shall have the yard brought to grade, and the lawn seeded
and the landscaping installed as indicated in the Development Plan,
the same year. All Buildings completed in other months shall
seed the lawn to grass and install the landscaping within a reason-
able time after such completion. All Owners of'Lots shall
cut and control all weeds and vegetation growing on all Lots,
whether vacant, occupied, under construction or fully improved and
shall otherwise maintain and care for all landscaping within bis
Lot. In the event the Association is not satisfied with the level
of maintenance of any landscaping, or other structure situated upon
a Lot, it shall so notify the Owner in writing, stating the reason
thereof, which notice shall be personally served upon the Owner of
the Lot or sent by registered or certified mail to the last known
address of such Owner as indicated by the records of the Associ-
ation (any such notice or other order provided for herein shall be
deemed given when so mailed). The notice shall designate a time
and place for a hearing before the Board of Directors to consider
the maintenance of the Lot in question or the improvements thereon.
The Owner of said Lot shall have the right to bey present and heard
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UN y0 1 ruu -I u i
at such hearing. if after such hearing the Board of Directors
determines that the landscaping or other structure situated upon a
Lot is not being properly maintained, it shall order that such
maintenance or repairs be performed by the Owner within thirty (30)
days after such hearing. Such order shall be personally served
upon the Owner of the Lot or sent by registered or certified mail
to the last known address of such Owner as indicated by the records
of the Association and shall state in detail the maintenance or
repairs that must be completed to bring the landscaping or other
structure situated upon the Lot up to a level of maintenance accept-
able to the Committee. If the Owner has failed to bring the Lot to
an acceptable level of maintenance within said thirty (30) day
period, or has not commenced said maintenance or restoration within
said thirty (30) day period and proceeded to completion of such
maintenance or restoration within a reasonable period of time
thereafter, the Committee, or its designated employee or agent may
perform, the necessary repair, maintenance and restoration; and all
costs related to such repair, maintenance and restoration shall
become a special assessment upon such Lot which assessment shall be
collectible by the Association as hereinabove provided.
Section 19: Planting or Gardening. No planting or gardening
shall be permitted on any portion of the Common Open Spaces except
as designated :in the Development Plan or as approved by the Committee.
Section 20: Antennas. No exterior television or radio antennas
of any sort shall be placed, allowed, or maintained upon any portion
of any improvement or other structure located upon a Lot or any
other portion of the Property.
Section 21: Fences. No fences, hedges, or walls shall be
erected or maintained on any Lot or other portion of the Property
except as are installed by the Association or approved by the
Committee. The Committee may require fences to be constructed on
all Lots of uniform size and material. All fences shall be natural
earth colors. The Association may construct such fences and assess
the cost thereof as a common expense or may require the Owner of
each Lot to construct such fence.
Section 22: Liability. Neither the Board of Directors nor
the Committee shall be liable for damages by reason of any action,
inaction, approval, or disapproval by it with respect to any
request made pursuant to this Article or the enforcement of any
provision of this Declaration.
ARTICLE VIZ: USE OF PROPERTY
Section 1: Residential Use. All
and devoted exclusively for residential
wholesale, manufacturing, or other type
offices, of any kind shall be permitted
which may be or may become an annoyance
on upop any Lot. or other portion of the
Lots shall be used, improved,
purposes. No retail,
of business
on any Lot.
or nuisance
Property.
ARTICLE VIII: EASEMENTS
or professional
No activity
shall be carried
Easements for installation and maintenance of Streets, utili-
ties, irrigation ditches, and drainage facilities are hereby
expressly reserved as designated on the Plat. Within said ease-
ments, no structure, landscaping, or other material shall be placed
or permitted to remain which may damage or interfere with the
installation or maintenance of utilities or which may change the
direction or flow of drainage channels in'said easements or which
may obstruct or retard the flow of water through drainage channels
in said easements. The easement area within each Lot shall be
landscaped and maintained by the Owner of said Lot except such
improvements for which a public authority or utility company is
responsible.
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The Association and the Committee shall have an easement and
right of access over and across all Lots and the Common Open Spaces
for the purpose of enforcing the terms, covenants, and conditions
of this Declaration.
ARTICLE IX: RESPONSIBILITY OF THE DEVELOPER
Section 1: Developer's Work. The Developer is undertaking
the work of developing a planned residential community in accord-
ance with the Development Plan. The completion of that work and
the sale and other disposal of the Lots is essential to the welfare
of the Property. In order that said work may be completed and the
Property developed as a planned residential community, nothing
herein contained shall:
A. Prevent the Developer, his contractors, or his sub-
contractors from doing on the Property or on any Lot whatever is
reasonably necessary or advisable in connection with the completion
of said work; or
B. Prevent the Developer or his representatives from
erecting, constructing, and maintaining on any portion of the
Property such structures as may be reasonably necessary for the
conduct of his; business in completing said work and establishing
the Property as a planned residential community and disposing of
the Lots by sale or otherwise; or
C. Prevent the Developer from maintaining such signs on
any part of the Property as may be necessary for the sale or
disposition thereof.
ARTICLE X: INSURANCE
The Board of Directors shall obtain and maintain at all times,
to the extent obtainable, policies of insurance involving standard
premium rates, established by the Colorado Insurance Commissioner,
and written with companies licensed to do business in Colorado and
having a Best's Insurance Report rating of A & XV, covering the
risks set forth below. The types of coverage to be obtained and
risks to be covered are as follows:
A. Fire insurance, if appropriate, with extended coverage
and risk endorsements, which endorsements shall include endorsements
for vandalism, malicious mischief, and machinery with the minimum
endorsement amount of Fifty Thousand Dollars ($50,000) per acci-
dent/per location. Said casualty insurance shall insure the Common
Open Spaces and all improvements located thereon together with all
service equipment contained therein in an amount equal to the full
replacement value, without deduction for depreciation. The pro-
ceeds of any insurance award shall be used by the Association to
repair or replace the damaged Property or improvements.
i
B. ;Public liability and property damage insurance in
such limits as the Board of Directors may from time to time deter-
mine, but not in an amount Less than five Hundred Thousand Dollars
($500,000) per injury, per person, per occurrence, with an umbrella
limit of One Million Dollars ($1,000,000) per occurrence, covering
claims for bodily injury or property damage. Coverage shall
include without limitation, liability for personal injuries,
operation of automobiles on behalf of the Association, and activi-
ties in.connection with the ownership, operation, maintenance and
other use of the Common Open Spaces.
C. Workmen's compensation and employer liability insur-
ance and all other similar insurance with respect to employees of
the Association in the amounts and in the forms now or hereafter
required by law.
-ld-
State of Colorado )
) ss.
County of Larimer )
Subscribed and sworn to before me this t&IKday of
19 �4-, by Thomas Sibbald, President of Sibbald/
Witness my hand and official seal.
My commission expires: ,),I - kL,
���lIL�.�,2t' 1 � � � CQir� c s✓
Notary Public
- 3 -
urx I u b I rb U 1 0 1
D. '1:'he Association shall purchase, in an amount not less
than one hundred percent (100%) of the Association's estimated
annual operating expenses and reserves, fidelity coverage against
dishonesty of Employees, destruction or disappearance of money or
securities and forgery. Said policy shall also contain endorsements
thereto covering any persons who serve the Association without
compensation.
E. The Association may obtain insurances against such
other risks of a similar or dissimiliar nature as it shall deem
appropriate with respect to the Property including insurance on any
personal property of the Association located thereon.
Owners may carry other insurance for their benefit and at their
expense, provided that the liability of the carriers issuing insur-
ance obtained by the Board of Directors shall not be effected or
diminished by reason of any such additional insurance carried by any
Owner. No Owner and no Owners' guests, invitees, tenants or sub-
tenants shall do anything or cause anything to be kept in or on the
Property which might result in an increase in the premiums of
insurance obtained for the Common ,Open Spaces or which might cause
cancellation of such insurance without the prior written consent of
the Association first having been obtained.
ARTICLE XI: CONDEMNATION
Section 1: Consequences of Condemnation. If at any time or
times during the continuance of: this Declaration, all or any part of
the Common Open Spaces shall be taken or condemned by any public
authority or sold or otherwise disposed of in lieu of or in advance
thereof, the provisions of this Article shall apply. The Associ-
ation shall give written notice to all first Mortgagees of the
commencement of any condemnation action affecting any portion of the
Common Open Spaces within ten (10) days of the date the Association
receives notice of such action.
Section 2: Proceeds. All compensation damages or other
proceeds therefrom, the sum of which is hereinafter referred to as
"the Condemnation Award," shall be payable to the Association. In
the event that all or any portion of the Common Open Spaces is taken
or condemned, or sold or otherwise disposed of in lieu of or in
avoidance thereof, the Condemnation Award shall be used for the
purpose of purchasing additional Common Open Spaces, for the con-
struction of improvements on the remaining Common Open Spaces, or
for any other purpose determined by the Board of Directors to
promote the recreation, health, safety and welfare of the Associ-
ation and its members. If an allocation of the Condemnation Award
is already established in negotiations, judicial decree or other-
wise, then the Association shall employ such allocation to the
extent it is relevant and applicable.
ARTICLE XII: GENERAL PROVISIONS
Section 1: Duration. The covenants and restrictions of this
Declaration shall run with and bind the land for a period of thirty
(30) years from the date this Declaration is recorded in the Office
of the Clerk and Recorder of the County of Larimer, State of
Colorado, after- which time they shall be automatically extended for
successive periods of ten (10) years unless terminated by an
instrument signed by Owners of two-thirds (2/3) of the Lots and all
first Mortgagees. Any such instrument must be recorded in the
Office of the Clerk and Recorder of the County of Larimer, State of
Colorado.
-15-
UI\ I Z) U i f u i i 7 o
Section 2: Amendment. Except as otherwise provided in this
Declaration, this Declaration may be amended at any time by an
instrument approved by two-thirds (2/3) of the votes entitled to be
cast by members of the Association; provided, however, that Section
6 of this Article hII may be amended only with the consent of the
City of Fort Collins, Colorado, or other governmental authority
having jurisdiction over the property at the time of such amendment.
Any such instrument must be recorded in the Office of the Clerk and
Recorder of the County of Larimer, State of Colorado.
Section 3: Enforcement. Enforcement of this Declaration and
these covenants, conditions, and restrictions shall be by appro-
priate proceedings at law or in equity against those persons vio-
lating or attempting to violate any covenant or covenants. Such
judicial proceeding shall be for the purpose of removing a viola-
tion, restraining a future violation, for recovery of damages for
any violation, for recovery of assessments due, or for such other
and further relief as may be available. Such judicial proceeding
may be prosecuted by any Owner or by the Association on behalf of
its members and the Association may assess the costs of such pro-
secution as a Common Exoense. The failure to enforce or to cause
the abatement: of any violation of this Declaration shall not pre-
clude or prevent the enforcement thereof of a future or continued
violation whether such violation shall be of the same or of a
different provision within these covenants.
Section 4: Severability. Invalidation of any one (1) of
these covenants or restrictions by judgment or court order shall in
no way affect any other provisions which shall remain in full force
and effect.
Section S: Limitations on the Association. So long as the.
Developer owns any Lot as designated in the Development Plan the
Association may not use its resources or take a public position in
Opposition to the general'plan for development of the Property as
provided in the Development Plan. Nothing in this section shall be
construed to limit the rights of the members acting as individuals
or in affiliation with other members or groups.
Unless two-thirds (2/3) of the Owners and all first Mortgagees
of Lots within the Property have given their prior written approval,
the Association shall not be entitled to:
A. By actor omission seek to abandon, partition,
sub -divide, encumber, sell or transfer all or any portion of the
Common Open Spaces (the granting of easements for public utilitites
and for other public purposes consistent with the intended use of
the Common Open Spaces by the Association shall not be deemed a
transfer within the meaning of this clause);
B. Change the method of determining the obligations,
assessments, dues or other charges which may be levied against an
Owner;
C. By act or omission change, waive or abandon any
scheme of regulations, or enforcement thereof, pertaining to the
architectural design or exterior appearance of Buildings or ol5-her
structures, the exterior maintenance of such Buildings the main-
tenance of the Common Open Spaces, common walks, common fences, or
the upkeep of lawns and planting within the Property;
D. Fail to maintain fire and extended coverage insurance
on insurable Association Property on a current replacement cost
basis in an amount not less than one hundred percent (100%) of the
insurable value (based on current replacement costs)-
E. Use hazard insurance proceeds for losses to any
Association Property for other than the repair, replacement or
reconstruction of such Property.
-16-
ON I zJ 0 1 r1i u -1 U ,)
Section 6: Management of the Common Open Spaces. "The Associ-
ation (a) may obtain and pay for the services of a managing agent
to manage its affairs, or any part thereof, to the extent it deems
advisable as well as such other personnel as the Association shall
determine to be necessary or desirable for the proper management,
operation and maintenance of the Streets, Common Open Spaces,
Townhome Units and any other portion of the Property which is the
responsibility of the Association, whether such personnel are
furnished or employed directly by the Association or by any person
with whom or which it contracts; provided, however, that any contract
in regard to the hiring or employing of such a managing agent or
other personnel. shall not be for a term in excess of three (3)
years and shall. provide that the same shall terminate on sixty (60)
days written notice with or without cause and without. payment of
any termination fee; (b) may obtain and pay for legal and accounting
services necessary or desirable in connection with the operation of
the Project or the enforcement of this Declaration.
Section 7: Provision for Maintenance by the City of Fort
Collins, Colorado. As part of the development plan the Developer
has submitted, and the City of Fort Collins, Colorado (hereinafter
referred to as "the City") has approved, a plan for the landscaping
of the Common Open Spaces (hereinafter referred to as "the Landscape
Plan"). The Developer hereby agrees to install all grass, shrubs,
bushes, trees, and other landscaping in accordance with the Landscape
Plan. The Developer shall commence installation of such landscaping
within each tract of the Common Open Spaces within a reasonable
time after completion of construction of the Townhome Units adjacent
to such tract and shall proceed in good faith to complete such
Landscaping within a reasonable time thereafter. (For purposes of
this section, the Townhome Units constructed on Lots 1 through 4
inclusive shall be considered to be adjacent to Tract A, the Townhome
Units constructed on Lots 5 through 13 inclusive, shall be considered
to be adjacent to Tract B, and the Townhome Units constructed on
Lots 14 through 20 inclusivo, shall be considered.to be adjacent to
Tract C.)
Upon installation of the landscaping by the Developer,
the Association shall be responsible for the continuing maintenance
and care of all, landscaping in accordance with the Landscape Plan
and shall further be responsible for the general maintenance and
care of the Common Open Spaces. All landscaping shall be maintained
by the Association in a good and husbandlike manner which shall
include, by example and not limitation, the replacement of dead
trees and shrubs as necessary.
In the event the City shall determine that the Developer
has failed to install, or the Association has.failed to maintain,
the landscaping in accordance with the Landscape Plan, which determin-
ation shall be made by the City arborist and shall not be capricious
or unreasonable., the City shall so notify the Developer or the
Association in writing who shall install or restore the landscaping
in accordance with the Landscape Plan. If the Developer shall fail
tosinstall or -the Association shall fail to restore, the landscaping
in accordance with the Landscape Plan within thirty (30) days after
receipt of such notice or to commence such installation or restoration
within twenty (20) days after receipt of such notice and continue
thereafter to use due diligence to complete such restoration, then
the City shall have the right to enter upon the Property and perform
the work necessary to install or restore the landscaping in accordance
with the Landscape Plan and the Developer shall pay to the City
such reasonable sums as are necessary to install such landscaping,
or the Association shall pay to the City such reasonable sums as
are necessary to pay for the labor and materials expended by the
City in restoring the landscaping, in accordance with the Landscape
Plan. Said payment shall be made to the City within thirty (30)
days after receipt of a statement for the cost of labor and materials
expended by the City. In the event it becomes necessary for the
City to install or restore the landscaping in accordance with the
Landscape Plan and in the event the Developer or the Association
-17-
U1% t a v I r u t1 1 p h
shall fail to reimburse thL' City for the cost of labor and materials
expended in completing such installation and restoration, the City
shall have a lien upon that tract of the Common Open Space upon
which installation or restoration was made and upon the recording
of notice thereof by the City, such lien shall be constituted upon
such tract so :improved. To evidence such lien, the City shall
prepare a written notice of the amount due and owing to the City,
the name of the Owner and a legal description of the tract upon
which such installation or restoration was made. Such notice shall
be signed on behalf of the City and shall be recorded in the office
of the Clerk and Recorder of the County of Larimer, State of Colorado,
and shall attach from the date of such recording. Such lien may be
enforced by foreclosure by the City of the tract upon which the
improvements were made in the manner provided for the foreclosure
of mortgages on real property. Any assessment made by the City for
the installation or restoration of landscaping shall be the personal
and individual obligation of the Developer or the Association as
the case may be at the time the assessment is made. Suit to recover
money judgment for unpaid assessments shall be maintainable by the
City without foreclosing or waiving the above -described lien.
To secure the obligation.of the Developer to install and
the Association to maintain, the landscaping in accordance with the
Landscape Plan, the Developer has delivered to the City, a letter
of credit issued by a National Bank or other lending institution.
In addition to the foregoing lien, the City, for a period of two
(2) years after approval of the Development Plan, may demand reim-
bursement for the cost of installation or restoration of any land-
scaping pursuant to said letter of credit. In the event funds are
dispursed to the City pursuant to said letter of credit as a result
of a breach by the Association of its duty to maintain t-he land-
scaping, the Developer shall be entitled to reimbursement from the
Association for all amounts so dispursed to the City and in the
event. the Association shall fail or refuse to reimburse the Developer,
the Developer shall have a ,lien against the Common Open Spaces. To
evidence such lien, the Developer shall file in the office of the
Clerk and Recorder of the County of Larimer, State of Colorado, a
notice of such lien, which lien shall attach from the date of such
recording and may be enforced by foreclosure in like manner as
mortgages on real property. The Developer may, in addition, file
suit to recover such amounts as are due and owing to the Developer
without foreclosing or waiving the above -described lien.
The Association shall also be responsible for the continuing
maintenance and care of the Streets. In the event the City shall
determine that the Association has failed to maintain the Streets
in a reasonable order and condition, which determination shall be
made by the City Engineer and shall not be capricious or unreasonable,
the City shall so notify the Association in writing, which shall
repair the Streets as required by the City. If the Association
shall fail to repair the Streets within ninety (90) days after
receipt of such notice or to commence such restoration within sixty
(60) days after receipt of such notice and continue thereafter to
use due diligence to complete such restoration, then the City shall
have the right to enter upon the Property and perform the work
necessary to restore the Streets to an acceptable level of mainte-
nance. The Association shall be responsible for payment to the
City of all costs incurred by the City in connection with the
restoration or maintenace of the Streets as herein provided. Said
payment shall be made to the City within thirty (30) days after
receipt of a statement for the labor and materials so expended by
the City. In the event the Association shall fail to make such
payment, the City upon resolution adopted by a majority of the
members of the City Council, may assess and collect the cost of any
such maintenance or restoration in the same manner as the Association
and shall have a lien against the Lot of any owner who shall fail
or refuse to pay any such assessment when due as herein provided.
-1 A-
dR I�j 0 1 rb u -i u (
0
IN WITNESS WHEREOF, the undersigned have executed this Decla-
ration of Easements, Covenants, Conditions, and Restrictions for
Cunningham Corner P.U.D. this ly. day of 1979.
CUNNINGHAM CORNER PARTNERSHIP,
a General Partnership
By: LL LL
Gil E lerb
gener par r
By C4,4 ,, D,
Richard Ellerby
general partner
0
ary Nordic
STATE OF COLORADO )
) ss.
COUNTY OF LARIMER ) i
The foregoing Declaration of Easements, Covenants, Conditions,
and Restrictions for the Cunningham Corner P.U.D. was acknowledged
before me by Gil Ellerby,, Richard Ellerby, and Gary Nordic, all
as general partners of Cunningham Corner Partnership, a General
Partnership.,,Oq, !9tl A-, _/ /Cf �
{ �/ �
My commission expires: �,.� zy p2w
i
I,iIrTNESS my hand and official seal.
s�4 .
Notary Public
r
-19-
1�4• 96 1
Pc0y69
STATE OF COI.ORADO )
ss.
COUNTY OF LARIMER )
The foregoing Declaration of Easements, Covenants, Conditions,
and Restrictions for the Cunningham Corner P.U.D. was acknowledged
before me by Gil Ellerby, a general partner of Cunningham Corner
Partnership, a General Partnership. lg-t et �j7q
My commission expires: `7)3��- -Zql ti90
WITNESS my hand and official seal.
K•
l+l
STATE QF COLORADO
COij ,OF LARIMER
)
ss.
g ,
Notary Public
The foregoing Declaration of Easements, Covenants, Conditions,
and Restrictions for the Cunningham Corner P.U.D. was acknowledged
before me by Richard Ellerby; a general partner of Cunningham
Corner Partnership, a General Partnership. -tk, !k*`' -t-'V7 7tca. I /y7y
My commission expires:
WITNESS my hand and official seal.
Notary Public
STATE,-._'9V COLORADO )
ss.
COLIk,Ii�F LARIMER )
The foregoing Declaration of Easements, Covenants, Conditions,
and Restrictions for the Cunningham Corner P.U.D. was acknowledged
before me by Gary Nordick,a general partner of Cunningham Corner
Partnership, a General Partnership. Zt, /9*:tL U A-7� lY?q
My commission expires:
WITNESS my hand and official seal.
N�y- Pub is
1
BY-LAWS
OF
CUNNIGHAM CORNER HOMEOWNERS'
ARTICLE I
NAME
The name of the corporation is "Cunningham Corner Homeowners
(hereinafter referred to as "the Associatic:l") .
ARTICLE II
DEFINITIONS
1. "Declaration" shall mean and refer to the Declaration of
Easements, Covenants, Conditions, and Restrictions for the Cunnig-
ham Corner P.U.D., recorded in the office of the Clerk and Recorder,
Larimer County, Colorado.
2. "Property" shall mean and refer to the real property
located in the City of Fort Collins, County of Larimer, State of
Colorado described on Exhibit "A" attached to the Declaration.
3. "Lot" shall mean and refer to any Lot designated on the
plat of the Cunningham Corner P.U.D. recorded in the office of
the Clerk and Recorder, Larimer County, Colorado, together with
membership in the Association.
4. "Owner" shall mean and refer to the record owners, whether
one or more persons or entities, of any Lot, including contract
purchasers, but excluding those having such interest merely as
security for the performance of an obligation.
5. "Plat" shall mean and refer to the Plat of the Cunningham
Corner P.U.D. recorded in the Office of the Clerk and Recorder,
Larimer County, Colorado and any amendments or replats thereof.
6. All other words and terms used in these By -Laws shall have
the meaning given in the Declaration.
ARTICLE III
OFFICES
The principal office of the Association shall be at 2000 Union
Drive, Fort Collins, Colorado. The Association may have such
other offices within the State of Colorado as the Board of
4
Di rectors mZI drsigjjjte or cis the business of the Association may,
from time to time, require.
ARTICLE IV
MEIMBERSHIP AND MEETINGS
1. Membership. Ownership of a Lot is required in order to
qualify for membership in the Association. Any person or entity,
on becoming an Owner of a Lot, shall automatically become a member
of the Association and be subject to these By -Laws. Membership in
the Association shall be appurtenant to and may not be separate
from ownership of said Lot. Such membership shall terminate with-
out any formal Association action whenever such person ceases to be
an Owner; but such termination shall not relieve or release any
such former Owner from any liability or obligation incurred under
or in any way connected with the Association during the period of
such ownership and membership in the Association, or impair any
rights or remedies which the Board of Directors of the Association
or others may have against such former Owner and member, and the
covenants and obligations incident thereto. No certificates of
stock shall be issued by the Association; but the Board of Direc-
tors may, if it so elects, issue one membership certificate Der Lot
to the Owner of the Lot. Such membership certificate shall be
surrendered to the Secretary whenever the Owner (member) transfers,
conveys, or sells his interest in the Lot to another person or
entity; and the new Owner shall then become a member of the Asso-
ciation.
2. Voting. The Association shall have two (2) classes of
voting membership:
Class A: Class A members shall be all Owners of Lots
(excluding the Developer) and shall be entitled to one vote for
each Lot owned.
Class B: The Class B member shall be the Developer which
shall be entitled to votes equal to .the number of Lots owned or
votes equal to one (1) more than all of the votes entitled to be
cast by Class A members of the Association which ever is greater,
so long as the Developer owns any Lots designated on the Plat.
Class B Membership shall cease upon written notice from the Developer
to the Association or upon the conveyance of all Lots designated on
the Plat by the Developer to individual Owners.
3. Annual Meetings.
be held on the day of
pose of electing id rectors
business as may come before
Annual Meeting shall not be
tion (legal holiday, etc.),
The Annual Meeting of the members shall
of each year for the Dur-
and for the transaction of such other
the meeting. If the day fixed for the
a usual business day for the Associa-
such meeting shall be held on the next
2
succeeding business clay. In the event that such Annual Meeting is
omitted by oversight or otherwise on the date herein provided for,
the Directors shall call a meeting in lieu thereof to be held as
soon thereafter as conveniently may be; and any business trans-
actions or elections held at such meetinq shall be as valid as if
transacted or held at the Annual Meeting.- Such subsequent meeting
shall be called in the same manner as provided for the Annual
Meeting.
4. Special Meetings. Special Meetings of the members, for
any purpose or purposes, unless otherwise prescribed by statute,
may be called at any time by resolution of the Board of Directors
or by the President of the Association and shall be called by the
President upon written request of the members entitled to cast one -
twentieth (1/20) of all votes entitled to be cast at such meeting,
provided such written request shall also state the purpose of the
meeting called and the business to be transacted at such meeting.
S. Place of lieetincj. All meetings of members shall be held
at the principal office of the Association unless the Board of
Directors designates another location as the place of meeting for
any Annual Meeting or Special Meeting. A waiver of notice signed
by all members entitled to vote at a meeting may designate a place
other than the principal office of the Association at which such
meeting may be held.
6. Notice of meetings and Waiver of Notice. Written notice
stating the place, day, and hour of the meeting and, in the case of
a Special Meeting, the purpose for which the meeting is called,
shall be delivered not less than ten (10) nor more than fifty (SO)
days before the date of the meeting, either personally or by mail,
by or at the direction of the President, the Directors, or by the
President at the request of the members as provided in paragraph 4
above, to each member entitled to vote at that meeting. If mailed,
such notice shall be deemed delivered when deposited in the United
States Mail addressed to the member at his address as it appears on
the records of the Association with postage thereon prepaid. The
attendance of a member at a meeting shall constitute a waiver of
notice of such a meeting except where a member attends a meeting
for the express purpose of objecting to the transaction of any
business because the meeting is not lawfully called or convened.
Any meeting, of which all members shall at any time waive or have
waived notice in writing, shall be a legal meeting for the trans-
action of business notwithstanding that notice has not been given
as hereinabove provided.
7. Quorum. Except as otherwise provided in these By -Laws, as
provided in the Declaration or as provided by law, at any meeting
of the members, the presence in person or by -proxy of members hold-
ing one -tenth (1/10) of the votes entitled to be cast on the matter
to be voted upon shall constitute a quorum. An affirmative vote,
of a majority of the votes entitled to be cast on a matter to be
voted upon by the members present or represented by proxy at a
3
meeting at which a (Itiorum is present, shall be necessary for the
adoption thereof unless a greater portion is required by law, by
the Articles of Incorporation, by the Declaration, or by these By-
L iws .
3. Proxies. Members may vote at any meeting, either in
person or by written proxy, which shall be filed by its holder with
the Secretary of the Association before being voted.
9. Order of Business. The order of business for all meetings
shall be as follows:
(a) Roll Call
(b) Proof of notice of Meeting or Waiver of Notice
(c) Reading of Minutes
(d) Reports of Officers
(e) Reports of Committees
(f) Unfinished Business
(9) New Business
ARTICLE V
BOARD OF DIRECTORS
1. General Powers. The business and affairs of the Associa-
tion shall be managed by its Board of Directors. The Board of
Directors shall have the powers and duties necessary for the
administration of the Association and for the operation and mainte-
nance of the streets and common open spaces and for the administra-
tion and enforcement of the covenants and restrictions contained in
the Declaration. The Directors shall in all cases act as a Board;
and they may adopt such rules and regulations for the conduct of
their meetings and the management of the Association as they may
deem proper, not inconsistent with these By -Laws, the Articles of
Incorporation, the Declaration, or the laws of the State of Colorado.
2. Other Powers and Duties. The Board of Directors shall be
empowered and shall have the duties as follows:
(a) To administer and enforce the covenants, conditions,
restrictions, easements, uses, limitations, obligations, and all
other provisions of the Declaration.
(b) To establish, make, and enforce compliance with such
reasonable rules and regulations as may be necessary for the opera-
tion and use of the streets and common open spaces. Said rules and
regulations may be amended, from time to time, by the Board of
Directors or by vote of the majority of the votes entitled to be
cast by members present in person or by proxy at an Annual Meeting
or Special Meeting. A copy of such rules and regulations shall be
delivered or mailed to each member promptly upon the adoption or
amendment thereof and to each new member upon becoming an Owner of
a Lot.
4
(c) To fix, determine, levy, collect, and enforce the general
and special assessments to be paid by each of the Owners as provi-
ded in the Declaration; to adjust, decrease, or increase the amount
of such assessments; and to remit or return any excess of the
assessments over expenses and cash reserves to the Owners at the
end of each operating year, except for necessary reserves and
sinking funds as shall be required to insure the proper maintenance
of the streets and common open spaces.
(d) To collect delinquent assessments by suit or otherwise
and to enjoin or seek damages from any Owner as provided in the
Declaration.
(e) To borrow funds in order to pay for any expenditure or
outlay required pursuant to the authority granted by the provisions
of the Declaration and to execute all such instruments evidencing
such indebtedness as the Board of Directors may deem necessary; and
such indebtedness shall be the several obligation of all the Owners.
(f) To establish a bank account for the common treasury and
for all separate funds which are required or may be deemed advis-
able by the Board of Directors.
(g) To keep and maintain, or to cause the same to be kept and
maintained, detailed, accurate records in chronological order of
receipts and expenditures affecting the streets and common open
spaces, specifying and itemizing the maintenance and repair expenses
of the streets and common open spaces and any other expenses incurred.
Such records and the vouchers authorizing payments of such expenses
shall be available for examination by the members at convenient
hours.
(h) To prepare and deliver annually to each member a state-
ment showing all receipts, expenses, or disbursements since the
last such statement.
(i) To meet at least once a year.
(j) To manage, control, operate, maintain, repair and improve
the streets and common open spaces and to designate or hire the
personnel necessary for such maintenance and operation of the
streets and common open spaces and to enter into one (1) or more
management agreements with third parties in order to facilitate
efficient operation of the streets and common open spaces. it
shall be the primary purpose of such management agreements to
provide for the administration, management, repair, and maintenance
of the streets, common open spaces and all improvements thereon and
the receipt and disbursement of funds as may be authorized by the
Board of Directors.
(k) To enter into contracts for services, facilities, pur-
chase of assets, both personal and real, for the benefit of the
members, and do any and all acts that a natural person can do for
the benefit of the members.
5
(1) In general, to carry on the administration of the Asso-
ciation, to do all of those things necessary and reasonable in
order to carry out the governing and operation of the Association,
and to exercise for the Association all powers and authorities
vested in or delegated to the Association and not reserved to the
membership by other provisions of these By -Laws, the Articles of
Incorporation, or the Declaration.
3. Number and Qualification. Initially, the Board of Direc-
tors, as set forth in the Articles of Incorporation, shall consist
of three (3) persons who shall hold office until the first Annual
Meeting of the members or until their successors have been duly
elected.
The number of directors of the Association shall be not less
than three (3) nor more than fifteen (15) as determined, from time
to time, by vote of a majority of the votes entitled to be cast by
members present in person or by proxy at an Annual Meeting or
Special Meeting.
4. Election and Term of Office. At the first annual meeting
of the Association, the term of office of one Director shall be
fixed at three (3) years, the term of office of one Director shall
be fixed at two (2) years, and the term of office of one Director
shall be fixed at one (1) year. At the expiration of the initial
term of office of each respective Director, his successor shall be
elected to serve a term of three (3) years. The Directors shall
hold office until their successors have been elected and hold their
first meeting. The Directors shall be elected by vote of a majority
of the votes entitled to be cast by members present in person or by
proxy at an Annual Meeting or Special Meeting.
5. vacancies. Vacancies in the Board of Directors caused by
any reason other than the removal of a Director by a vote of the
Association shall be filled by vote of the majority of the remain-
ing Directors, even though they may constitute less than a quorum;
and each person so elected shall remain in office until the next
Annual Meeting of the members at which time an election shall be
held to fill the vacancy and unexpired term.
6. Removal of Directors. At any regular or special meeting
duly called, any one or more of the Directors may be removed, with
or without cause, by a vote of a majority of the votes entitled to
be cast by members present in person or by proxy at such meeting;
and a successor may then and there be elected to fill the vacancy
and unexpired term thus created. Any Director whose removal has
been proposed by the membership shall be given an opportunity to be
heard at such meeting.
7. Organizational Meeting. The first meeting of a newly
elected Board of Directors shall be held within ten (10) days of
election at such place as shall be fixed by the Directors at the
meeting at which such Directors are elected; and no notice shall be
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