STATE OF NORTH CAROLINA COUNTY OF DURHAM Prepared by and return to day holds Borgout & Petterson, P.A, P.O. Box 26506 , NC 27612 w.thout Title Search DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS BOOK 1618 PAGE 151 THIS DECLARATION, made on the date hereinafter set forth by Hotel L'Europe, Inc., hereinafter referred to as "Declarant".
WITNESSETH: WHEREAS, Declarant is the owner of certain property in County of Durham, State of North Carolina, which is more particularly described as: See Attached Exhibit "A" Incorporated Herein by Reference NOW, THEREFORE, Declarant hereby declares that all of the properties described above shall be held, sold and conveyed subject to the following easements, restrictions, covenants and conditions, which are for the purpose of protecting the value and desirability of, and which shall run with, the real property and be binding on all parties having any right, title or interest in the described properties or any part thereof, their heirs, successors assigns, and shall inure to the benefit of each owner thereof.
ARTICLE I DEFINITIONS and Section 1. "Association shall mean and refer to Vanderidge Homeowners Association, Inc., its successors and assigns.
Section 2. "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any lot which is a part of the properties, sellers, but excluding those having such security for the performance of an obligation.
05121 including contract interest merely as CORR. OF Deck.
BK1691 Pof544 11-19-91 2600 BOOK 1648 PAGE 152 Section 3. "Properties" shall mean and refer to that certain real property hereinbefore described, and such additions thereto as may hereafter be brought Association.
the within jurisdiction of the mean all real property
es" shall mean and refer to that certain real property hereinbefore described, and such additions thereto as may hereafter be brought Association.
the within jurisdiction of the mean all real property Section 4. "Common Area" shall (including the improvements thereto) owned by the Association for The Common Area to be the common use and enjoyment of the owners.
owned by the Association at the time of the conveyance of the first lot is described as follows: Section 5. "Lot" shall mean and refer to any plot of land shown upon any recorded subdivision map of the properties with the exception of the Common Area.
mean refer and to Hotel Section 6. "Declarant" shall L'Europe, Inc., its successors and assigns if such successors or assigns should acquire more than one undeveloped lot from the Declarant for the purpose of development.
ARTICLE II PROPERTY RIGHTS Section 1. Owners' Easements of Enjoyment. Every owner shall have a right and easement of enjoyment in and to the Common Area which shall be appurtenant to and shall pass with the title to every lot, subject to the following provisions: (a) the right of the Association to charge reasonable admission and other fees for the use of any recreational facility situated upon the Common Area; .
BOOK 1648 PAGE 153 (b) the right of the Association to suspend the voting rights and right to use of the recreational facilities by an owner for any period during which any assessment against his lot remains unpaid; and for a period not to exceed 60 days for any infraction of its published rules and regulations; (c) the right of the Association to dedicate or transfer all or any part of the Common Area to any public agency, authority, or utility for such purposes and subject to such conditions as may be agreed to by the members.
Association to dedicate or transfer all or any part of the Common Area to any public agency, authority, or utility for such purposes and subject to such conditions as may be agreed to by the members.
No such dedication or transfer shall be effective unless an instrument agreeing to such dedication or transfer signed by 2/3rds of each class of members has been recorded.
Section 2. Delegation of Use. Any owner may delegate, in accordance with the By-laws, his right of enjoyment to the Common Area and facilities to the members of his family, his tenants, or contract purchasers who reside on the property.
ARTICLE III Section 1.
MEMBERSHIP AND VOTING RIGHTS Every owner of a lot which is subject to assessment shall be a member of the Association. Membership shall be appurtenant to and may not be separated from ownership of any lot which is subject to assessment.
Section 2. The Association shall have two classes of voting membership: Class A. Class A members shall be all owners, with the exception of the Declarant, and shall be entitled to one vote for each lot owned. When more than one person holds an BOOK 1648 PAGE 154 interest in any lot, all such persons shall be members.
The vote for such lot shall be exercised as they determine, but in no event shall more than one vote be cast with respect to any lot.
Class B. The Class B member(s) shall be the Declarant and shall be entitled to three (3) votes for each lot owned.
The Class B membership shall cease and be converted to Class A membership on the happening of either of the following events, whichever occurs earlier: (a) when the total votes outstanding in the Class A membership equal the total votes outstanding in the Class B membership, or (b) on May 1, 1996.
ARTICLE IV COVENANT FOR MAINTENANCE ASSESSMENTS
lier: (a) when the total votes outstanding in the Class A membership equal the total votes outstanding in the Class B membership, or (b) on May 1, 1996.
ARTICLE IV COVENANT FOR MAINTENANCE ASSESSMENTS Creation of the Lien and Personal Obligation of Section 1.
Assessments.
The Declarant, for each lot owned within the properties, hereby covenants, and each' owner of any lot by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association: (1) annual assessments or charges, and (2) special assessments for capital improvements, such assessments to be established and collected as hereinafter provided.
The annual and special assessments, together with interest, costs and reasonable attorney's fees, shall be a charge on the land and shall be a continuing lien upon the property against which each such assessment is made. Each such assessment, together with, BOOK 1648 PAGE 155 interest, costs and reasonable attorney's fees, shall also be the personal obligation of the person who was the owner of such property at the time when the assessment fell due. The personal obligation for delinquent assessments shall not pass to his successors in title unless expressly assumed by them.
Section 2. Purpose of Assessments. The assessments levied by the Association shall be used exclusively to promote the recreation, health, safety and welfare of the residents in the properties and for the improvement and maintenance of the Common Area.
Section 3. Maximum Annual Assessment.
Until January 1 of the year immediately following the conveyance of the first lot to an owner, the maximum annual assessment shall be Ten and No/100 Dollars ($10.00) per lot. Provided, however, notwithstanding the
1 of the year immediately following the conveyance of the first lot to an owner, the maximum annual assessment shall be Ten and No/100 Dollars ($10.00) per lot. Provided, however, notwithstanding the foregoing, the conveyance of sixteen (16) lots to CPD Limited Partnership ("CPD") by Hotel L'Europe, Inc., shall not give rise to the payment of homeowners' dues by CPD or Hotel L'Europe, Inc.
(a) From and after January 1 of the year immediately following the conveyance of the first lot to an owner, the maximum annual assessment may be increased each year not more than 5% above the maximum assessment for the previous year without a vote of the membership.
(b) From and after January 1 of the year immediately following the conveyance of the first lot to an owner, the maximum annual assessment may be increased above 5% by a vote of two-thirds (2/3) of each class of members who are voting in person or by proxy, at a meeting duly called for this purpose.
BOOK 1648 PAGE 156 (c) The Board of Directors may fix the annual assessment at an amount not in excess of the maximum.
Section 4. Special Assessments for Capital Improvements.
addition to the annual assessments authorized In above, the Association may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or the Common Area, replacement of a capital improvement upon including fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3) of the votes of each class of members who are voting in person or by proxy at a meeting duly called for this purpose.
Section 5. Notice and Quorum for Any Action Authorized Under
t of two-thirds (2/3) of the votes of each class of members who are voting in person or by proxy at a meeting duly called for this purpose.
Section 5. Notice and Quorum for Any Action Authorized Under Written notice of any meeting called for the Sections 3 and 4.
purpose of taking any action authorized under Section 3 or 4 shall be sent to all members not less than 30 days nor more than 60 days At the first such meeting called, the in advance of the meeting.
presence of members or of proxies entitled to cast sixty percent (60%) of all the votes of each class of membership shall constitute a quorum. If the required quorum is not present, another meeting same notice requirement, and the may be called subject to the required quorum at the subsequent meeting shall be one-half (1/2) No such subsequent of the require quorum at the preceding meeting.
meeting shall be held more than 60 days following the preceding meeting.
BOOK 1648 PAGE 157 Section 6. Uniform Rate of Assessment.
Both annual and special assessments must be fixed at a uniform rate for all lots and may be collected on a monthly basis.
Due Section 7. Date of Commencement of Annual Assessments: Dates. The annual assessments provided for herein shall commence as to all lots on the first day of the month following the conveyance of the Common Area. The first annual assessment shall be adjusted according to the number of months remaining in the calendar year.
The Board of Directors shall fix the amount of the annual assessment against each lot at least thirty (30) days in advance of each annual assessment period. Written notice of the annual assessment shall be sent to every owner subject thereto.
The due dates shall be established by the Board of Directors.
Association shall, upon demand, and for a reasonable charge,
notice of the annual assessment shall be sent to every owner subject thereto.
The due dates shall be established by the Board of Directors.
Association shall, upon demand, and for a reasonable charge, furnish a certificate signed by an officer of the association setting forth whether the assessments on a specified lot have been paid. A properly executed certificate of the Association as to the status of assessments on a lot is binding upon the Association as of the date of its issuance.
Section 8. Effect of Nonpayment of Assessments: the Association.
The Remedies of Any assessment not paid within thirty (30) days after the due date shall bear interest from the due date at the rate of six percent (6%) per annum. The Association may bring an action at law against the owner personally obligated to pay the same, or foreclose the lien against the property: No owner may waive or otherwise escape liability for the assessments provided for herein by non-use of the Common Area or abandonment of his lot.
BOOK 1648 PAGE 158 Section 9. Subordination of the Lien to Mortgages.
The lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage.
affect the assessment lien.
Sale or transfer of any lot shall not However, the sale or transfer of any as to lot pursuant to mortgage foreclosure or any proceeding in lieu thereof, shall extinguish the lien of such assessments payments which became due prior to such sale or transfer.
from liability or transfer shall relieve such lot No sale for any assessments thereafter becoming due or from the lien thereof.
ARTICLE V ARCHITECTURAL CONTROL wall structure other or No shall be fence, building, commenced, erected or maintained upon the properties, nor shall any
ereafter becoming due or from the lien thereof.
ARTICLE V ARCHITECTURAL CONTROL wall structure other or No shall be fence, building, commenced, erected or maintained upon the properties, nor shall any exterior addition to or change or alteration therein be made until the plans and specifications showing the nature, kind, shape, same location of the shall have been height, materials, and submitted to and approved in writing as to harmony of external design and location in relation to surrounding structures and topography by the Board of Directors of the Association, or by an three of (3) or composed architectural committee In the event said Board, representatives appointed by the Board.
more or its designated committee, fails to approve or disapprove such design and location within thirty (30) days after said plans and specifications have been submitted to it, approval will not be be deemed to have been fully required and this Article will complied with.
BOOK 1648 PAGE 159 ARTICLE VI GENERAL PROVISIONS Section 1. Enforcement. The Association, or any owner, shall have the right to enforce, by any proceeding at law or in equity, all restrictions, conditions, covenants, reservations, liens and charges now ΟΙ hereafter imposed by the provisions of this Declaration. Failure by the Association or by any owner to enforce any covenant or restriction herein contained shall in no event be deemed a waiver of the right to do so thereafter.
Section 2.
Severability. Invalidation of any one 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 3. Amendment. The covenants and restrictions of this Declaration shall run with and bind the land, for a term of twenty
affect any other provisions which shall remain in full force and effect.
Section 3. Amendment. The covenants and restrictions of this Declaration shall run with and bind the land, for a term of twenty (20) years from the date this Declaration is recorded, after which time they shall be automatically extended for successive periods of ten (10) years. This Declaration may be amended during the first twenty (20) year period by an instrument signed by not less than ninety percent (90%) of the lot owners, and thereafter, by an instrument signed by not less than seventy-five percent (75%) of the lot owners. Any amendment must be recorded.
Section 4. Annexation.
Additional residential property and Common Area may be annexed to the properties with the consent of two-thirds (2/3) of each class of members.
Section 5. FHA/VA Approval. As long as there is a Class B membership, the following actions will require the prior approval BOOK 1648 PAGE 160 of the Housing Federal Administration or the Veterans Administration: Annexation of additional properties, dedication of SAR Common Area, and amendment of this Declaration of Covenants, Conditions and Restrictions.
IN WITNESS WHEREOF, the undersigned, being the Declarant herein, has hereunto set its hand and seal this 10th day of April 1991.
BY: DECLARANT; HOTEL L'EUROPE, INC.
President ARE HATTEST 2 D Secretary STATE OF NORTH CAROLINA COUNTY OF Durham FILED BOOK 1648 PAGE 151-160 I, Karen L Grimes, RUTH C. GARRETT REGISTER OF DEEDS DURHAM COUNTY, N.C.
a Notary Public of County, North Carolina, do hereby certify that Janet W. Bennet personally came before me this day and acknowledged a North Secretary of Hotel L'Europe, Inc., that he is Carolina Corporation, and that by authority duly given
do hereby certify that Janet W. Bennet personally came before me this day and acknowledged a North Secretary of Hotel L'Europe, Inc., that he is Carolina Corporation, and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its President , sealed with its corporate seal and name by its Secretary .
as its attested by Deself 1991.
Witness my hand and notarial seal, this (C(CHA day of April.
Notary Public OTARY My Commission Expires: 10/7/92 (3kpjr/dam/doc/hotel.cov) Ges State of North Carolina-Durham County The foregoing certificate(s) of Канк в битова A Notary (Notaries) Public for the Designated Governments units is (are) certified to be correct.
This the 1013 Ruth C. Garrett Register of Deeds A day of April 4.0.1991 By: Assistant, Deputy Register of Deeds.
EXHIBIT "A" 19.160 BEING all of those certain lot numbers 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 30 and 31 as shown on plat prepared by Duane K. Stewart & Associates, Inc. recorded April 10, 1991 in Plat Book 125, Page 31, Durham County Registry, to which plat reference is hereby made for a more particular description of same.