-I BOOK 3911 PAGE 26 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 THIS ASSIGNMENT OF DEVELOPER RIGHTS AND FIRST AMENDMENT TO THE DECLARATION OF COVENANTS, CONDTIONS, AND RESTRICTIONS FOR THOMAS COMMUNICATIONS, INC. (WALNUT GROVE ESTATES ), SUBDIVISON-UNIT 1-A, 1-B, 1-C, and 1-D) ("Assignment and First Amendment") is entered into as of November <12-, 2021 by and betweenJJK -THOMAS , LLC, a Kentucky limited liability company, 2148 Palomar Trace Drive Lexington, Kentucky 40513 (the "Developer"), and the WALNUT GROVE ESTATES HOMEOWNERS ASSOCIATION, INC., a Kentucky non-profit corporation, 2148 Palomar Trace Drive Lexington, Kentucky 40513 (the "Association"). The Assignment and First Amendment having an Effective date of ...IA-AILA-IAo~ I, ;a.. t.:l 3-":a-WITNESSETH: WHEREAS, the Developer entered into the Declaration of Covenants, Conditions, and Restrictions for Thomas Communicatio ns, Inc., (Walnut Grove Estates) Subdivision, Unit 1-A, dated March 15, 2002 (the "Original Declaration 1-A''), of record in Deed Book 2265, Page 701, in the Office of the Fayette County Clerk; and WHEREAS, the Developer entered into the Declaration of Covenants, Conditions, and Restrictions for Thomas Communications, Inc., (Walnut Grove Estates) Subdivision, Unit 1-B, dated December 22, 2005 (the "Original Declaration 1-B"), of record in Deed Book 2611, Page 290, in the Office of the Fayette County Clerk; and WHEREAS, the Developer entered into the Declaration of Covenants , Conditions, and Restrictions for Thomas Communications, Inc., (Walnut Grove Estates) Subdivision, Unit 1-C, dated April 8, 2010 (the "Original Declaration 1-
ntered into the Declaration of Covenants , Conditions, and Restrictions for Thomas Communications, Inc., (Walnut Grove Estates) Subdivision, Unit 1-C, dated April 8, 2010 (the "Original Declaration 1C"), of record in Deed Book 2937, Page 709, in the Office of the Fayette County Clerk; and MAIL/RETURN TO: FRANKLIN & RAPP 1001 MONARCH ST.
SUITE 120 LEXINGTON, KY 405 1 3 WHEREAS, the Original Declarations 1-A, 1-B, and 1-C, provide in Sections 36, 36, and 35 respectively that the Developer may amend the covenants, conditions, and restrictions at any time provided that the Developer still owns at least one (1) lot in the Walnut Grove Estates residential development, and a) provided there are no decreases in the minimum floor area requirement ratios; b) the amendment does not discriminate against any owner of a lot in the subdivision; and c) written notice specifying the nature of the amendment is sent to each owner of each lot in the subdivision at least thirty (30) days prior to the effective date of such amendment; and WHEREAS, the Developer wishes to amend the covenants, conditions, and restrictions contained in Section 29 of Original Declarations 1-A, 1-B, and Section 28 of Original Declaration 1-C regarding the Homeowner Association; and WHEREAS, the Association was formed by those certain Articles of Incorporation ftled with the Kentucky Secretary of State on March 18, 2002 (the "Articles") for the purpose of creating, operating, and administering a homeowners association for Walnut Grove Estates, Unit 1-A, 1-B, and 1-C and any additional property that may be added from time to time as provided for in the By-Laws of the Corporation as may be amended from time to time; and
Walnut Grove Estates, Unit 1-A, 1-B, and 1-C and any additional property that may be added from time to time as provided for in the By-Laws of the Corporation as may be amended from time to time; and WHEREAS, Original Declaration 1-A, Original Declaration 1-B, and Original Declaration 1-C expressly provide for, in Sections 29, 29, and 28 respectively, that each Subdivision contemplated shall be governed by the Association; and WHEREAS, Original Declaration 1-A, Original Declaration 1-B, and Original Declaration 1-C expressly provide for, in Sections 32, 32, and 31 respectively, that the various approval rights held by the Developer may be assigned to any person, entity, or association; and WHEREAS, the Developer executed a waiver with respect to Section 23 of Original Declaration 1-B, concerning Lot No. 64, otherwise being known, and designated as 3989 Real Quiet Lane, said waiver being dated September 14, 2007, and of record in Deed Book 2763, Page 661, in the Office of the Fayette County Clerk; and WHEREAS, the Developer wishes to retain all of its rights with respect to Section 2 in Original Declarations 1A, 1-B and 1-C regarding "Approval of Construction Plans" for all unimproved Lots; and WHEREAS, the Developer desires to assign all of its remaining rights, title, and interest under the Original Declarations 1-A, 1-B, 1-C, and 1-D to the Association, provided to the extent the Developer is the owner of any Lots, said lots are exempt from the covenants, conditions, and restrictions of the Original Declarations until such time as they are conveyed; and WHEREAS, the Association desires to accept the duties and the assignment of said rights; and NOW, THEREFORE, for and in consideration of the mutual promises as set forth herein, and for other good
and WHEREAS, the Association desires to accept the duties and the assignment of said rights; and NOW, THEREFORE, for and in consideration of the mutual promises as set forth herein, and for other good and valuable consideration, the parties hereby agree as follows: 1. Section 29 in Original Declaration 1-A and 1-B shall be amended to now include paragraph (f) and Section 28(F.) in Original Declaration shall be deleted in its entirety all of which shall now state as follows: The Developer shall have total control of and be vested with all authority over the Homeowners Association until such time as 1) the Developer, in its sole discretion, transfers all or part of its authority to the Homeowners Association; or 2) the Developer has transferred title to one hundred percent (100%) of the lots in the entire Walnut Grove Estates residential development, including all other Subdivisions and adjacent land brought within the scope of the Homeowners Association by the Developer (whether or not such adjacent land is owned or subsequentl y acquired by the Developer.
2. Developer shall retain all of its rights with respect to Section 2 in Original Declarations 1-A, 1-B and 1C regarding "Approval of Construction Plans" for all unimproved Lots; and 3. There is excepted from the Assignment and First Amendment where Developer executed a waiver with respect to Section 23 of Original Declaration 1-B, concerning Lot No. 64, otherwise being known, and designated as 3989 Real Quiet Lane, said waiver being dated September 14, 2007, and of record in Deed Book 2763, Page 661, in the Office of the Fayette County Clerk; and 4. Pursuant to the Original Declarations, and with the aforementioned exception, the Developer hereby
4, 2007, and of record in Deed Book 2763, Page 661, in the Office of the Fayette County Clerk; and 4. Pursuant to the Original Declarations, and with the aforementioned exception, the Developer hereby assigns, delegates, and transfers all remaining Developer 's rights, title, and interest under the Original Declarations to the Association.
5. The Association accepts, with the aforementioned exception, the assignment, transfer, and conveyance of the Developer's rights, title, and interest under the Original Declarations.
6. The parties agree that the actions and declarations made by the Developer pursuant to all of the Original Declarations, including, but not limited to, approval of all building plans and other matters are final and shall remain in full force and effect.
7. Any and all provision of the original Declarations not expressly amended herein shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Assignment and First Amendment as of the day and year first above written.
WALNUT GROVE ESTATES COMMONWEALTH OF KENTUCKY COUN1Y OF FAYETTE The forgoing instrument was subscribed, sworn to, and acknowledged before me on this the :a. :I-day of company, for and on behalf of said company.
My commission expires: • NOTARY PUBLIC KENTUCKY STATE AT LARGE COMMONWEALTH OF KENTUCKY COUN1Y OF FAYETTE The forgoing instrument was subscribed, sworn to, and acknowledged before me on this the 'J,-"'1/ day of
Y COUN1Y OF FAYETTE The forgoing instrument was subscribed, sworn to, and acknowledged before me on this the 'J,-"'1/ day of Estates Homeowners Association, Inc., a Kentucky Corporation, for and on behalf of said company .
THIS INSTRUMENT PREPARED BY: J#t~ Christopher M. Clendenen MURPHY & CLENDENEN, PLLC Lexington Financial Center 250 W. Main Street, Suite 2510 Lexington, Kentucky 40507 Tel: (859) 233-9811 My commission expires: 9-5-22-= Notary ic, 10 No. 604576 State at Large, Kentucky -My Commission Expires on Sept. 5, 2022 DEED BOOK 3911 PAGE 30 I, Donald W Blevins J !,., County Court Clerk of Fa_yette County, Kentucky, hereby certify that the foregoing instrument has been duly recorded m my office.
By: EMILY GENTRY ,de 202201210089 January 21, 2022 9:07:11 AM Fees $50.00 Tax $.00 Total Paid $50.00 THIS IS THE LAST PAGE OF THE DOCUMENT 5 Pages 26 30