Resolution of the Board of Directors of the Hill Farms Homeowners' Association regarding the Seventh Amendment to the Declaration of Covenants, Conditions and Restrictions for Hill Farms Subdivision in Davis County, Utah, recorded on November 13, 2020 as Entry No. 3314983.
Effective Date: January 1, 2026 WHEREAS, the Hill Farms Homeowners Association ("Association") currently assesses a reinvestment fee of 0.5% (0.005) of the sales price for all home resales within the community; and WHEREAS, the Board of Directors ("Board") has reviewed the reinvestment fee structure and determined that an adjustment is appropriate and in the best interest of the Association; and WHEREAS, the Board has authority under the governing documents to establish and adjust the reinvestment fee; and WHEREAS, the Board desires to reduce the reinvestment fee to better align with current community needs and financial planning.
NOW, THEREFORE, BE IT RESOLVED THAT: 1. Reinvestment Fee Adjustment: Effective January 1, 2026, the Association's reinvestment fee shall be reduced from 0.5% (0.005) of the sales price (one-half of one percent) to 0.25% (0.0025) of the sales price (one-quarter of one percent).
ADOPTED by the Board of Directors on this 10 day of December 2025.
Compull President- Cory Greenwell The Vice President- Whitney Krogue Vice President- Kyle Schafer Treasurer- David Law.
Car K Secretary-Charlene Kerwin