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ASSIGNMENT AND ASSUMPTION AGREEMENT THE STATE OF TEXAS * ai KHOW ALL MEN BY THESE PRESENTS: COUNTY OF POLK * WHEREAS, A. A WELLS, {hereinafter called "HKeveloper’), is the cecord developer of a subdivision known and designated as “PONDEROSA RIDGE, SECTIONS 1, 2, 3, AND 4" (hereinafter called "ponderosa Ridge"), in Polk County, Texas, as shown in the map or plat of said subdivision, recorded in the Plat Records of Polk County, Texas reference to which igs hereby mado for all purposes; and WHEREAS, said Developer, at Volume 257, Pages 208, et seq, need Records of Polk County, Texas, #8 previously impressed all oe the property in said Subdivision with reservations, restrictions, covenants, and conditions (hereinafter called “nestrictions"), applicable to said subdivision, reference to which is hereby made for all purposes; and WHEREAS, Restriction No. 6 of said restrictions reserve to Grantor the right to make such reasonable changes in the hereinabove restrictions as Grantor may deem necessary ‘OF desirable; and WHEREAS, A. A. WELLS, died on June 1, 19686, and his Will was admitted to probate in the County Court for Polk County, Texas, number 3889, in which CHARLES N, WELLS was appointed and qualified as the Independent Executor for said estate of A. A. Welle, Deceased, which estate is still pending in said court; and WHEREAS, said Independent Executor, by Amendment duly filed at Vol. 653, page p67, Official Records of Polk County, Texas amended the above referenced Restrictions for Ponderosa Ridge; and WHEREAS, C. N. WELLS, being the same individual as Charles N.
869 — — for all purposes; and : ’ : WHEREAS, sald Developer, at Volume 272, Pages 474, et seq, Deed Records of Polk County, Texas, has previously impressed all
being the same individual as Charles N.
869 — — for all purposes; and : ’ : WHEREAS, sald Developer, at Volume 272, Pages 474, et seq, Deed Records of Polk County, Texas, has previously impressed all of the property in Shady Ridge with reservations, restrictions, covenants, and conditions [hereinafter called "Restrictions" ), applicable to said subdivision, reference to which is hereby made for all purposes: and WHEREAS, Restriction No. 7 of said restrictions reserve to Developer the right to make such reasonable changes in the hereinabove restrictions as Grantor may deam necesaary oF desirable; and WHEREAS, said Developer, by Amendment duly filed at Vol.
Ehe above ceferenced Restrictions for Shady Ridge; and WHEREAS, CHARLES . WRLLS, (hereinafter called "Developer"), is the record developer of a subdivision known and designated as Ehat certain unnamed 17.89 acre subdivision described at Vol.
342, pages TTé et seq. (heaceinafter called "Unnamed Subdivision"), in Polk County, Texas, as shown in the map or plat of said subdivision, recorded in the Plat Records of Polk County, Texas reference to which is hereby made for all purposes; and WHEREAS, said Developer, at Volume 360, Pages 67, et seq, Deed Records of Polk County, Texas, has previously impressed all of the property in Unnamed Subdivision with reservations, restrictions, covenounts, and conditions (hereinafter called "Restrletions"), applicable to said subdivision, reference to which is hereby made for all ournoses: and eel OR, 66 2rast $71 ° the above referenced Restrictions for said Unnamed Subdivision; and ' , WHEREAS, the Ponderosa and Shady Ridges Froperty Owners
ast $71 ° the above referenced Restrictions for said Unnamed Subdivision; and ' , WHEREAS, the Ponderosa and Shady Ridges Froperty Owners incorporated for the purpose of promoting the safety, welfare and enjoyment of the residents and owners within the above named subdivisions in accordance with the said Restrictive Covenants and for the purpose of assessing, collecting and enforcing the payment of maintenance Eees due under the Restrictive Covenants referenced above, and the amendments thereto referenced above, and For the purpose of operating, maintaining and aupervising the commen Facilities in said subdivisions, and when determined necessary by the Board of Directors to enforce said restrictions; and WHEREAS, ‘the Association has adopted its by-laws and haa elected its officers and is organized and capable of carrying out the functions for whieh iL was organized; NOW THEREFORE KNOW ALL HEN BY THESE PRESENTS, THAT CHARLES HW.
WELLS, Individually as the developer of Shady Ridge and Unnamed Subdivisions referenced above, and further as the Independent Executor for A. A. Wells, Deceased, the developer of Ponderosa Ridge Subdivision, (referred to hereinafter as “Developer"}) and Lue Association hereby agree to the following: 1. Developer agrees to transfer to the Association all of Developer's rights ag concerns collection and expenditure of maintenance funds, provided for by the Restriction for each respective subdivision named above, and as further provided for by the amended Restrictions identified above, together with all other rights of the Developer as concerns said maintenance feos provided far hue aAdea | Mao Daekri et dane al anf areomoan il ea4A on, OG2racr §72
ded Restrictions identified above, together with all other rights of the Developer as concerns said maintenance feos provided far hue aAdea | Mao Daekri et dane al anf areomoan il ea4A on, OG2racr §72 Restrictions, which have nok already been spent as provided for by said Deed Resatrictiona. Tk is Fic between the parties hereto that such funds in the Maintenance Fund Account have previously been transferred to the Association. It is agreed that henceforth any funds received by Developer from the lot owners in any of the subdivisions for payment of the maintenance fees, pursuant te the Deed Restrictions, and any amendments thereto, shall ba transferred to the Association.
i. The Association agrees ta henceforth maintain the roads im fhe subdivisions until such time when the City of Gnalaska or the Polk County Authorities accept the roads in said subdivisions for maintenance by the City oc County. The Association further aqrecs Eo maintain che commean recreational fEacilities in the subdivisions, in Polk County, Texas, and ko assume the responsibilities set forth in the Deed Restrictions for the collecting and expenditure of such maintenance funds. The Association agrees Eo pay all utility ‘charges, taxes and assessments of any kind levied against any of the common facilities in said subdivisions. The Assoclatlon Further agrees that henceforth Developer shall have no liability or obligation to asGist in Ehe maintenance of the roads or maintenance of the common recreational facilities.
HOW, THEREFORE, in consideration of the foregoing, and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, CHARLES WN. WELLS, Individually and as Independent Executor for the Estate of A. A. Wells, Deceased, has
and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, CHARLES WN. WELLS, Individually and as Independent Executor for the Estate of A. A. Wells, Deceased, has TRANSFERRED and ASSIGNED, and by these presents do TRANSFER and on o662rac §73 feos on any: of said Lots in the three subdivisions named and identified above, and including the right to any common areas or other public areas reserved by any documents on File with the County Clerk's office of Polk County, Texas, relating to said subdivision.
EXECUTED by CHARLES N. WELLS, Individually as the Developer of Shady Ridge Subdivision and the 17.89 acce unnamed Subdivision, and as Independent Executor for the Estate of A. A. Wells, Deceased, the Developer of Ponderosa Ridge Subdivision on the ee day of Def , 1988.
oo fr CHARLES HW. WELLS, “Individually and ps Independent Execubor for the Estate of A. A. Wells, Deceased ASSUMPTION ACCEPTED AND AGREED TO: PONDEROSA AND SHADY RIDGES PROPERTY sib ASSOCIATION + petition THE STATE OF TEXAS * COUNTY OF 78,6 * BEFORE HE, the undersigned authority, on this day personally Appeared CHARLES WN. WELLS, Individually and «as Independent Executor for the Estate of A. A. Wells, Deceased, known to ma to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and considerations therein expressed, in the capacity therein stated and as the act and deed for said Estate of A. A, Wells, Deceased, GIVEN UNDER MY HAND AND SEAL OF OFFICE on this 2 aay of THE STATE OF TEXAS * , The above instrument was acknowledged before me on the 16th day of April ' 1934, by RONALD CALVIN Fi
, GIVEN UNDER MY HAND AND SEAL OF OFFICE on this 2 aay of THE STATE OF TEXAS * , The above instrument was acknowledged before me on the 16th day of April ' 1934, by RONALD CALVIN Fi President of Ponderosa and Shady Ridges Property Owners Association, in the capacity therein stated and that he was duly authorized to execute said document on behalf of ‘said Corporation.
“ i ‘ m “ My commission expires: _/-z2z-74 “- hem neme of notary: = tae # i ra] ed .
STATE oF + COUNTY Of Pook a, MOL THA JOHMEOM, hereby cinetity that ihan itgleeTaal we Elirged Marcon by me ind wp duly BE ri - ‘OR are _ Par hen cata aoe DADE he ey “2H FOR RECO, : 09 APR 25 Mi & 45 APR 2 1989 MARTINS Seay amir BLK ih ie CLoxk aie “ COUNTY CLERK ae R48) 20Zee fied oaane, Poot ee