RELEASE OF LIABILITY This Release is made as of the 30~day ofDecember, 2021 by and between JJK-THOMAS, LLC, a Kentucky limited liability company, located at 2148 Palomar Trace Drive, Lexington, Kentucky 40513 (the "Developer") and the WALNUT GROVE ESTATES HOMEOWNERS ASSOCA TION, INC., a Kentucky non-profit corporation, located at ---------------------------(the "Association").
WHEREAS, the Developer will be assigning Developer rights to the Association effective January 1, 2022 by Assignment of Developer Rights and First Amendment to Declaration of Covenants, Conditions, and Restrictions for Thomas Communications, Inc., (Walnut Grove Estates) Subdivision Unit 1-A, 1-B, 1-C and 1-D; dated November 22, 2021; and WHEREAS , the original and any amended Subdivision Plans for Walnut Grove Estates that were approved by the City of Lexington , Kentucky by and through its agents including but not limited to the Department of Planning and Zoning had certain Developer obligations included on them for the development of the Walnut Grove Estates Subdivision; and WHEREAS, the Association wishes to accept the duties and the assignment of the Developer rights referred to in the above referenced Assignment dated November 22, 2021; however when it acquires said Developer rights the Association wishes to be held harmless and released from any liability or obligations that the Developer has in regards to Subdivision Plans that have been approved by the City of Lexington, Kentucky and their agents; (examples include but are not limited to development and construction of trails, roadways, and fences); and WHEREAS , the Developer desires and wishes to hold harmless, release liability and indemnify the Association from any liabilities, obligations , claims or expenses from any and all
s, and fences); and WHEREAS , the Developer desires and wishes to hold harmless, release liability and indemnify the Association from any liabilities, obligations , claims or expenses from any and all obligations or requirements he may have as a result of approved Subdivision Plans for Walnut Grove Estates; and NOW, THEREFORE, for and in consideration of the mutual agreements as set forth herein, and for other good and valuable consideration , the parties hereby agree as follows: 1. The Developer releases the Association of any liabilities , obligations , claims or expenses and holds harmless and indemnifies the Association of same for any and all requirements he may have as a result of approved Subdivision Plans for the Walnut Grove Estates.
2. This Release may be supplemented , amended and/or modified only by and through mutual agreement of all parties and must be in writing and signed b all parties.
JJK-THOMAS , LLC, a Kentucky limited liability company James C AND WALNUT GROVE ESTATES HOMEOWNERS ASSOCIATION , INC., a Kentucky non-profit corporation By: h ~c.feW't