Doc# 20210281794 10/08/2021 8:10AM Page 1 of 5 Lucy Adame-Clark, Bexar County Clerk EIGHTH AMENDMENT TO THE DECLARATION OF SOUTH END LOFTS CONDOMINIUMS STATE OF TEXAS § § | KNOWALL MEN BY THESE PRESENTS: COUNTY OF BEXAR” § WHEREAS, South End Lofts is a residential real estate condominium project located in San Antonio, Bexar County, Texas (hereinafter the “Community”); and, WHEREAS, the Units in the Community and the Common Elements in the Community are subject to certain restrictive covenants, being specifically that certain Declaration of South End Lofts Condominiums, executed on May 5, 2006, recorded in Volume 12322, Page 383, Official Public Records of Real Property of Bexar County, Texas, as amended (hereainfter the “Declaration”); and, WHEREAS, Owners Association of South End Lofts, Inc. is a Texas non-profit corporation established pursuant to the Declaration for purposes of governing the Units and Common Elements in the Community (hereinafter the “Association”); and, WHEREAS, federal loan underwriting guidelines for condominium association mortgages and re-financing include eligibility criteria requiring that the number of owner-occupied units shall be at least fifty-percent, and that the ratio of rented units to all units not exceed more than fifty percent; and, WHEREAS, the Members of the Association desire to amend the Declaration to establish ownership percentage and rental limitations, in addition those already contained in the Declaration, to ensure that the Community remains in compliance with such federal loan underwriting guidelines and ensure availability of financing associated with the Units; NOW, THEREFORE, the Declaration is amended to read as follows: I.
Article 11 of the Declaration is hereby amended by the addition of a new section, numbered
ity of financing associated with the Units; NOW, THEREFORE, the Declaration is amended to read as follows: I.
Article 11 of the Declaration is hereby amended by the addition of a new section, numbered as 11.6, to read as follows: 11.6. LEASE RATIO RESTRICTIONS. To be in compliance with Federal Housing and Urban Development (HUD) Federal Housing Administration (FHA), Veteran’s Administration (VA), Fannie Mae and Freddie Mac mortgage loan market requirements, in addition to the other restrictions in Article 11, in order to limit the number of rented Units at any one time to a total of no more than fifty percent of all Units (i.e., twenty-six Units), and to allow all Owners an equal opportunity to lease their Units, the following restrictions, and provisions for regulations to implement them, are hereby established: Doc# 20210281794 10/08/2021 8:10AM Page 2 of 5 Lucy Adame-Clark, Bexar County Clerk a. Rental List - No Owner shall lease or rent their Unit, after the date this Amendment is recorded, unless they seek and obtain prior, written approval from the Board to lease or rent their Units. Owners may do so by applying for a position on the list of Units that are allowed to be leased or rented (the “Rental List”), on the prescribed form. Permission shall be granted on a first-come, first-served basis, up to a maximum of twenty-six Units being leased or rented at any one time, and subject to all other terms and conditions herein. Rental of any and all Units not on the Rental List is prohibited. Once a Unit is approved for placement on the Rental List, then it shall remain on the Rental List until the Unit has not been leased or rented for a continuous period of more than ninety days, at which time it will automatically
placement on the Rental List, then it shall remain on the Rental List until the Unit has not been leased or rented for a continuous period of more than ninety days, at which time it will automatically be removed from the Rental List. Eligibility to be on the Rental List passes with title to each Unit. Eligibility for one Unit to be on the Rental List is not transferrable to any other Unit, unless both Units involved are owned by the same Owner or affiliation of Owners. The Board of Directors shall have sole authority and absolute discretion to determine eligibility of Units for placement on, and continuation on, the Rental List, subject to the terms of this Section. Any Owner may remove their Unit from the Rental List at any time by submitting a notice of withdrawal to the Board of Directors.
b. Waiting List - Owners desiring to lease or rent their Units shall, if their Unit is not on the Rental List, submit a request to the Board of Directors, on the prescribed form, for their Unit to be placed on the Waiting List, on a first-come, first-served basis. When vacancies in the Rental List occur, they shall be filled with Units from the Waiting List, in the order of the date of their registration on the Waiting List.
Any Owner may remove their Unit from the Waiting List at any time by submitting a notice of withdrawal to the Board of Directors.
Il.
Article 13 of the Declaration is hereby amended by the addition of a new section, numbered as 13.14, to read as follows: 13.14 RESTRICTION ON PERCENTAGE OF UNITS OWNED. No Owner or affiliation of Owners may own, at any one time, more than three percent (i.¢., two Units) of the total number of Units (rounded up to the next-highest whole Unit number) of all Units.
NED. No Owner or affiliation of Owners may own, at any one time, more than three percent (i.¢., two Units) of the total number of Units (rounded up to the next-highest whole Unit number) of all Units.
The foregoing was approved by Owners entitled to cast sixty-seven-percent of the weighted votes in the Association, and at least fifty one percent of Eligible Mortgagees, as that term is defined in the Declaration, and as certified by the signatures of the President and Secretary of the Association below.
[SIGNATURE PAGE TO FOLLOW] Doc# 20210281794 10/08/2021 8:10AM Page 3 of 5 Lucy Adame-Clark, Bexar County Clerk Th SIGNED this>? 7 day of epee bec, 2021.
OWNERS ASSOCIATION OF SOUTH END LOFTS, INC., a Texas non-profit corporation By: By: Lisa J. Schmidt, Secretary STATE OF TEXAS § § COUNTY OF BEXAR § Before me, the undersigned notary public, on this day personally appeared Steven K.
Moore, President of Owners Association of South End Lofts, Inc., known to me or proved to me by presentation to me of a governmentally-issued identification card to be one of the persons whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed it for the purposes and consideration expressed in it.
oA Given under my hand and seal of office theA/ day of Sek be , 2021.
STATE OF TEXAS § ET satindi, REGINA J. HORNE ESPREE § Hse ree Notary Public, State of Texastf Ss. PN ZS= Comm. Expires 05-11-2025 If COUNTY OF BEXAR § AORN Notary ID 12130277 Before me, the undersigned notary public, on this day personally appeared Lisa J. Schmidt, Secretary of Owners Association of South End Lofts, Inc., known to me or proved to me by presentation to me of a governmentally-issued identification card to be one of the persons whose
sa J. Schmidt, Secretary of Owners Association of South End Lofts, Inc., known to me or proved to me by presentation to me of a governmentally-issued identification card to be one of the persons whose name is subscribed to the foregoing instrument, and acknowledged to me that she executed it for the purposes and consideration expressed in it.
. aye | Given under my hand and seal of office the 7 day of 2021.
REGINA J. HORNE ESPREE Notary Public, State of Texas Comm. Expires 05-11-2025 Notary 1D 12130277 bat seats args 5 . at eee 25 AC: =&: ea: A . oe Oe “if 3 Doc# 20210281794 10/08/2021 8:10AM Page 4 of 5 Lucy Adame-Clark, Bexar County Clerk AFTER RECORDING RETURN TO: Owners Association of South End Lofts, Inc.
c/o Kyse & Associates Management Company 11120 Wurzbach Rd. Ste. 205 San Antonio, Texas 78230 6117001/2145526 File Information eFILED IN THE OFFICIAL PUBLIC eRECORDS OF BEXAR COUNTY LUCY ADAME-CLARK, BEXAR COUNTY CLERK Document Number: 20210281794 Recorded Date: October 08, 2021 Recorded Time: 8:10 AM Total Pages: 5 Total Fees: $38.00 Any provision herein which restricts the sale or use of the described real property because of race is invalid and unenforceable under Federal law STATE OF TEXAS, COUNTY OF BEXAR | hereby Certify that this instrument was eFILED tn File Number Sequence on this date and at the time stamped hereon by me and was duly ERECORDED in the Official Public Record of Bexar County, Texas on: 10/8/2021 8:10 AM \! Face Aarne Chane H Lucy Adame-Clark 7 Bexar County Clerk