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HomeMy WebLinkAboutCOVENANTS - 03-00032 - Hyde Park II - Two 4-Plex Buildings #3 & 4nd/eo/1U1J13 1ti:35 12087851055 BLAUKFUUI AF't'L t UF:N resat nl DECLARATION OF EASEMENTS,COVEN ANTS CONDITIONS AND RESTRICTIONS OF HYDE PARK THIS DECLARATION made and entered into the day and year hereinafter set forth and between Futures of tdaho hereinafter referred to as the "Declarant" WITNESSETH WHEREAS, Declarant is the Owner of certain property mote particularly described as, to wit. See plat and legal description attached hereto as Exhibit "A." WMREAS Declarant desires that said property be managed, used and conveyed subject to certain easements restrictions, covenants and conditions NOW, THEREFORE, Declarant hereby declares that all of the properties described above shall be held, managed, used, 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 of any part thereof their heirs, successors and assigns, and to the benefit of each Owner thereof. The plat for this property was recorded as Instrument No_ on th 2003 in the Madison County Recorder's office, Said plat and the dedications made therein are subject to and for the exclusive purpose described herein. Any reference herein to the "plat" is and shall refer to the recorded plat described above. ARTICLE I- DEFINITIONS: The terms used herein unless otherwise defined herein, shall have meanings given hereafter 1. t "Association" shall mean and refer to Hyde Park" Owner's Association its successors and assigns, and shall be composed of all the Owners of the property described herein. 1-2 "Properties" shall mean and refer to that certain real property described hereinabove together with all improvements existing of from time to time constructed thereon. 1.3 "Common Expenses" shall mean all expenses incurred for the upkeep maintenance repair, replacement, management and operation of the common areas, procured and maintained by the Association, wages accounting and legal fees, management fees, and any other expenses and liabilities incurred by the Association on for the benefit of the Owners under or by reason of Declaration. See Attached Exhibit "A" 1A "Owner" shall meati and refer to the record Owner, whether one or persons or entities of fee simple title to any Unit and the improvements thereon (which is a part of the Properties) including co :Ma-, sellers, but excluding those having such interest merely as security for the performance of an obligation. 03/05/2003 18:35 12087851055 BLAUKFUUI Air L h-Ut<N raiuc rum ARTICLE 11 -NATURE OF OWNERSMP 2.1 COVENANTS APPURTENANT TO UNITS All rights or interest and all obligations or restrictions of an Owner created hereunder shall be deemed appurtenant to each Unit and shall not be separable there from. Any conveyance or encumbrance of a lot shall also be deemed a conveyance or encumbrance of those appurtenant rights or interest even though such rights or interests are not expressly referred to in such conveyance or encumbrance. 2.2 COVENANTS TO RUN WITH THE LAND This declaration and all covenants, restrictions, limitations, easements, conditions, and uses as herein provided for shall constitute covenants to run with the land hereby submitted to the properties and shall be a burden and/or a benefit to the Declarants, their successors and assigns and to any person acquiring any interest in the above described real property and to their heirs, executors, administrators personal representative, successors and assigns. 2.3 LEGAL DESCRIP'T'IONS OF 4 -FLEX UNITS For the purposes of conveying of conveying mortgaging, or otherwise affecting title, and Unit may be legally described by its identifying number as shown on the plat. Such legal description shall be construed to describe the Unit and to incorporate all the rights and limitations incident to the ownership of a unit. ARTICLE III- EASEMENTS 3.1 ENCROACHMENTS If by reason of the design or construction of utility systems, any main pipes, ducts or conduits serving more than one Lot encroach or shall hereafter encroach upon any part of any Lot, valid easements for the maintenance of such encroachment and for the use of such adjoining space shall exist for the benefit of such lot so long as all or any part of the building or buildings shall remain standing. 3.2 SIDEWALK WATER Li'NE &OTHER UTILITY EASEMENTS The property described in, the plat, and made hereof is hereby dedicated as to the subject properties, as a Common Easement for the Owners and the tenants of the Units for ingress and egress to the individual units. Said properties are further dedicated as a common easement for placement and use of utilities inclusive of but not limited to gas water electric, TV cable and any other utilities as necessary for the enjoyment and use of any individual Unit. ARTICLE IV RESTRICTIONS 4.1 MAINTENANCE It is the intent of this development that the common areas shall be maintained by the association. No addition, alteration or change in the exterior decoration shall be done the Owner except in conformity to the exterior decorating scheme adopted and 4.2 approved by the Association for all the Units. 1t will remain the duty of the Owner to maintain the structural integrity and weather ability of his/her Unit. 4.3 No structure of any kind shall be placed on any of the property, except by the association. 4.4 No Unit shall be subdivided 4,5 All structures on each Unit shall be fully insured at all times by a recognized and substantial insurance company for the full replacement value for all risks insurable in the Rexburg Idaho area. Any damage or destruction to the Unit shall be promptly restored by the Owner to its original design and dimensions to conform to the buildings existing on the other Units or as otherwise approved by the Association. 4.6 No outside television or radio aerial or antenna TV or Satellite shall be mounted on the exterior of the Unit. 4.7 No building, fence wall or other structure or landscaping shall be commenced erected or maintained upon any Unit unless such maintenance, repair or replacement is required as a result of a willful and/or negligent act or omission by the Owners, Owner's guest, Owner's Tenant, or Owner's Tenant's guest. 03/05/2003 18:35 12087851J55 BLAUKrUUI At-rL rUrry rcauc 4.6 LEIN FOR ASSESSMENTS As more fully provided in this instrument each Unit shall be subject to a periodic assessment by the Association for the expenses of the Association. The assessments of the Association shall constitute lien upon the Unit until paid. ARTICLE V -HOME OWNER'S ASSOCIATION 5.1 ASSOCIATION CREATED By this declaration, Declarant declares the existence of Hyde Park Owner's Association- The purposes and powers of the association shall be all of the purposes and powers set forth in this Declaration- The Association shall perform the duties and enforce the covenants and restrictions set forth in this Declaration. 5.2 NAME The name of this Association shall be Hyde Park Owner's Association. 5.3 PURPOSE The purpose of the Association shall be 5.3.1 To care for the improvements and maintenance of the property and maintain the common a areas of the development 5,3.2 To aid and cooperate with the Owners in the enforcement of all conditions, covenants and restrictions on or appurtenant to their property. 5.3.3 Exercise any and all power that may be delegated to it from time to time by the Owners. 5.3.4 The Association shall not engage in politics or pursue any political purpose. 5.4 MEMBERSHIP Every Owner shall be a member of the Association. lftitle to aUnit is held by more than one person, the membership related to that Unit shall be shared by all such persons in the same proportionate interests and by the same type of tenancy in which the title to the Unit is held, However there shall be only one vote per Unit irrespective of the number of Owner's actually owning a Unit_ An Owner shall be entitled to one membership for each Unit owned by him/her. Each such membership shall be appurtenant to the Unit upon which it is based and shall be transferred automatically by conveyance of the Unit. No person or entity other than an Owner my be a member of the Association, provided , however that the rights of membership may be assigned to a mortgage as further security for a loan secured by a lien on a Unit. No person or entity other than a Owner may be a member of the Association provided, however, that the rights of membership may be assigned to a mortgagee or beneficiary as further security for a loan secured by a lien on a Unit. 5.5 ADMINISTRATION The Owners covenant and agree that the administration of the property, the enforcement of covenants and restrictions, and exterior decorations functions of the Association property shall be in accordance with the provisions of this declaration, All decisions by the Association shall be binding if passed by a majority of the Association. 5.5.1 PLACE OF MiIEFTINGS. The Association shall meet periodically or upon a Thirty Percent (34%) majority of the total votes requesting a meeting to carry out the Association shall be held at such place with the County of Madison, State of Idaho as the Association may specify in the notice, except as herein otherwise specified. 5.5.2 NOTICES Any action permitted or required to be delivered as provided herein may be delivered either personally or by mail. if delivery is by mail it shall be deemed to have been delivered 72 hours after a copy of the same has been deposited in the United States Mail postage prepaid addressed to each Owner at the address given by such person to the Association for the purpose of services of such notice or to the Unit of such person if no other address has been given. Such address may be changed from time by notice in writing to the Association. 5.5.3 VOTING Voting shall be on a Unit basis and each Unit shall be entitled to one vote (exclusive of the Common Area) The vote of Owners representing a majority of the voting rights of the Owners shall decide any question of business brought before such meeting unless the question is one upon which this declaration requires a different vote, in which case such express provision shall govern and control the decision of such question. All votes may be cast either in person or by proxy. All proxies shall be in writing, and shall be delivered to the Secretary at least five days prior to the scheduled meeting. 03/05/2003 18:35 111JU(Utl0o5 t5LAUKruu1 wrr-1- rUMIN I NUL 5.5,4 WAIVER OF NOTICE Any Owner may at any time waive any notice required to be given under this declaration, or by statue or otherwise. The presence of an Owner in person at any meeting of the Association shall be deemed a waiver. 5.5.5 OBLIGATION TO COMPLY HEREWITH All Owners shall comply with all provisions of this Declaration, the administrative rules regulations pertaining to the project and shall require such compliance from their children, tenants, guests, employees, and any other person whom they invite upon the project. All agreements decisions and determinations lawfully made by the Association shall be deemed to be binding on all Owners an shall inure to their benefit, Each Owner, any group of Owners, or the Association shall have standing authority unless otherwise provided to enforce by any legal means including suit for specific performance injunctive relief or damages, the provision of this Declaration and duly adopted decisions or regulations of the Associations. 5.6 OFFICERS 5,6.1 DESIGNATION OF ELECTION The principal officers of the Association shall be a President, a Vice President, and a Secretary -Treasurer, all of whom shall be electod by the Association. 5.6.2 REMOVAL OF OFFICERS AND AGENTS All officers and agents shall be subject to removal with or without cause at any time by the affinitive vote of the majority of the then members of the Association. 5.6.3 PRESIDENT The President shall be the chief executive of the Association, and shall exercise general supervision over the Association's property and affairs - The President may also function as managing agent. The President shall sign on behalf of the Association all contracts relating to the property, and shall do and . perform all things which the Association may require of him/her. He/she shall preside at all meetings of the Association. He/she shall have all the general powers and duties which are normally vested in the office of the President of a corporation including but not limited to, the power to appoint committees from among the members from time to time as he/she may, in his/her discretion, decide as appropriate to assist in the conduct of the project. 5.6.4 VICE-PRESIDENT The Vice -President shall take the place of the President and perform his/her duties whenever the President shall be absent or unable to act. If ncither the President nor the Vice -President is able to act, the Association shall appoint some other member thereof to do so on an interim basis. The Vice -President shall also perform such other duties as shall from time to time be directed by the Association_ 5.6.5 SECRETARY -TREASURER The Secretary -Treasurer shall keep the minutes of all meetings of the Association, have charge of the books and papers as the Association may direst, and shall in general perform all the duties incident to the office of the Secretary -Treasure. The Secretary -Treasure shall have the responsibility for the funds and securities of the Association and shall be responsible for keeping full and accurate accounts of all receipts and all disbursements in books belonging to the Association. The Secretary -Treasurer shall be responsible for the deposit of all monies and all other valuable effects in the name, and to the credit of, the Association in such depositories as may be from time to time designated by the Association. 5.6.6 COMPENSATION Reasonable compensation may be paid to the officers for their services as the Association shall determine from time to time. 5.6.7 SPECIFIC DUTIES OF OFFICERS The President shall have the obligation to employ personnel necessary for the operation repair and maintenance of the property, to employ necessary legal and accounting service and to purchase materials and supplies therefore. The Secretary -Treasurer shall make all expenditures authorized once such expenditures have been authorized in the annual budget. The Declarant, prior to submitting an annual budget to the 03/05/2003 18:35 12087851055 tst_AUKrUU1 Ai-' L rUKN rwut r,Z) Association is authorized to incur and pay reasonable and necessary expenses. Once officers are elected, alJ payment vouchers shall be approved by the President. -Upon ten (10) days notice to the Secretary -treasurer, and upon payment of reasonable fee therefore, the Sccretary-treasurer shall furnish to any Owner it statement of his/her account setting forth the amount of any unpaid assessments or other charges due or owing from such Owner. It shall be the duty of the Secretary -Treasurer to bill, collect and receipt the collection of all monthly assessments and to enforce the collection thereof. The President shall have the affirmative obligation to enforce all provisions of this declaration and shall retain the services of an attorney when necessary to do so. The President shall have the authority and duty to designate and remove when he/she deems removal appropriate personnel necessary for the cleaning maintenance snow removal beautifying landscaping, decorating and repair of the improvements of the property. 5.7 ACCOUNTING 5.7.1 BOOKS AND ACCOUNTS The books and accounts of the Association shall be kept under the director of the Secretary -Treasurer and in accordance with the reasonable standards of accounting procedures. 5.7.2 REPORT At the close of each accounting year, the books and records of the project shall be reviewed by a person or firm approved by the Association. Report of such review shall be prepared and submitted to the Owners at or before the annual meeting of the Association. )Provided however that a certified audit by a certified public accountant approved by the Association shall be made if a majority vote of the Owners so determine. 5.7.3 INSPECTION OF BOOKS Financial report. Such as are required to be furnished shall be available at the principal office of the Association for the inspection at reasonable times by any Owner_ 5.8 CONTRACTING OF ADMJfNISTRA.TIVE DUTIES The Association may, at its option enter into an agreement with a prokssional management entity, for a period not exceeding three (3) years for the performance of administrative duties of the Association. 5.9 PURCHASE MONEY -LENDERS RIGHTS TO MANAGEMENT INFORMATION Any purchase money or refinance lender or its assigns shall be entitled upon request to: 5.4.1 Inspect the books and records of the project at the office of the Association during normal business hours. 5.9.2 Receive written notice of all meetings of the Association and be permitted to designate a representative to attend all such meetings. ARTICLE VI- COMMON EXPENSES 6.1 OWNER SHALL PAY Each Unit Owner shall pay to the Association hisiber allocated portion (as described in paragraph 1.6 hereinbefore) of the common expenses of the Association_ 6.2 ANNUAL BUDGET The President shall prepare an annual budget which shall include anticipated management, operating, maintenance, repair and other common expenses for the Association's next fiscal calendar year and may include among other things, insurance, common lighting, landscaping and care of grounds, repairs, renovations, charges, legal and accounting fees, management fees, expenses and liabilities incurred by the association under or by reason of the period, and the creation of a contingency or other reserve or surplus fund, as determined by the Association. 6.3 PRESENTED TO OWNERS The annual budget shall be presented to the Association no less than one month before the commencement of the budgeted year and unless disapproved at such meeting by a two -third (2/3) vote of all the Owners present shall become the annual budget for the following fiscal year. 03/05/2003 16:35 12087851055 BLACKFOOT APPL FURN PAGE 06 6.4 HOW ASSESSED TO OWNERS AND PAID All portions of the annual budget shall be assessed to the Owners in proportion of the Units owned by each. The assessment as thus determined and prorated to the Owners shall be payable by the Owners in twelve (12) equal installments with the first installment due on the first day of the budgeted year and succeeding installment due in one month intervals thereafter or at such greater intervals as the Association may direct. The Owners shall pay the assessments when due without any deduction on account of any set off or claim which the Owner at the times may claim against the Association. 6.5 INTEREST AND COSTS Or COLLECTION Each periodic installment of assessments shall bear interest from the due date, at the rate of twelve percent (12%) if not paid within fifteen (15) days after due date. All costs of collection of assessments, including reasonable attorney's fees, costs of suit and costs of establishing a lion or foreclosure shall also become a debt of the Owners at the time such costs are incurred. 6.6 LIEN AGAINST UNIT The amount of any such assessments or other extraordinary assessments together with costs of collection shall be secured by a lien upon the Unit assessed from and atter the time the Association officer causes to be recorded with the Madison County Recorder's office a notice assessment which shall be the amount of the annual assessment, the amount of any periodic installment, and all incurred or anticipated collection costs, a description of the Unit against it has been assessed, and the name of the recorded Owner thereof. Such notice shall be signed by a duly authorized officer of the Association and may be filed at any time after delinquency in payment. If any assessment or installment is not paid within three (3) months of the due date, such lien may be foreclosed in like manner as a mortgage upon real property. 6.7 CAPITAL IMPROVEMENTS Assessment to Unit Owners for major maintenance items exceeding 53000 in cost on the property, following the execution of the declaration shall not be made without sixty-six and 2/3 percent (66 2/3%) vote of the Association. 6.8 NO ABONDONMENT No Owner may exempt himself from liability for his contribution toward the expense of the Association by waiver of the use or enjoyment of any of the properties or by the abandonment of his/her Unit_ 6.9 RESERVE FUND UPON TRANSPER If an Owner transfers his Unit to another, his interest in all funds of the Association including any reserve fund shall be deemed to also have been transferred to the new Owner as an appurtenance to the transferred Unit. 6.10GRANTEE LIABLE Subject to subparagraph 6.13 below, the grantee of a Unit shall be jointly and severally liable with the grantor for all unpaid assessments owned by the granter at the time of the eonveyance, but such liability shall be without prejudice to the grantee's rights to recover from the grantor the amounts paid by the grantee therefore. 6.11 STATEMENT OF ASSESSMENT Upon payment of a reasonable fee and upon written request by any Owner mortgagee, prospective martgagee or prospective purchaser of a Unit the Association shall issue written statement setting forth with respect to any Unit the amount of the unpaid assessments, if any, the amount to the current periodic assessment and the date that such assessment becomes due credit for advanced payments of prepaid items, including but not limited to, an Owners share of prepaid insurance premiums, which statement shall be conclusive upon the Association in favor of persons who rely thereon in good faith. Unless the request for such written statement shall be made within ten (10) days, all unpaid assessments which become due prior to the date of such request shall be subordinate to the lien if any, held by the person making the request. Any mortgagee may pay any amount shown as due on such statement and upon such payment such mortgagee shall have a lieu on such Unit for the amounts paid on the same rank as the lien of his encumbrance. 6.12ASSIGNMENTS OF RENTS If any Owner shall default for a period of one month in the payment of any assessments the Association may at its option, and for so long as such default, shall continue, demand and receive from any tenant occupying the Unit, any portion of the rent due or becoming due, and to extent such rent is paid to the Association such tenant shall be discharged of liability to the Owner. 03/05/2003 18:35 12U13Iti51b55 bLrauKruui orrrL rum,4 1 H-. u1 ARTICLE VII -USE OF THE PROJECT 7.1 OWNER'S OBLIGATION TO MAINTAIN AND REPAIR Each Owner at his/her expertise shall keep his Unit in good order condition and repair and in a clean and sanitary condition. Owner shall repair all damage to hi --/her unit with a quality and kind equal to the original work. 7.2 TAXATION Each unit is subject to a separate asscssment and taxation by each taxing authority, Any taxes levied against common areas shall be paid by the Association, and shared equally by the Owners. 73 NO NUISANCE No use or practice shall be permitted which is a source of annoyance or which interferes with the peaceful possession and use of the property. No immoral, improper, offensive, or unlawful use shall be made of any part of the property. 7,4 DECLARANTS USE OF THE PROJECT Until the declarant has completed and sold all of the Units in the project the Owners and the Association shall not interfere with the sale of the Units. The Declarant may make such use of unsold Units as may facilitate such completion and sale including but not limited to the maintenance of a sales office, and showing of the project, the display of signs and access for the construction in additional phases, 7.5 LEASING OF UNITS The owners of the respective Units shall have absolute rights to lease the Units, However, such lease is subject to the covenants and conditions of this declaration and any rules and regulations made by the Association. Any breach of these covenants and conditions or of these rules and regulations shall constitute default under the lease. No lease shall be of a shorter term than three months. 7.6 TEMPORARY STRUCTURES No structures of a temporary character, trailer basement, shack, garage, barn, or other out buildings shall be used on any lot at any time as a residence whether temporarily or permanently. 7.7 ANIMALS No lot or portion thereof shall be used for the keeping or pasturing of animals of any kind. 7.8 WATER AND SEWAGE No individual water supply system or individual sewage disposal system shall be permitted on any lot. 7.9 GARBAGE AND REGUSE DISPOSAL No lot or parcel included within these properties shall be used or maintained as a dumping ground for rubbish. Trash, garbage, and other waste materials shall be deposited only in sanitary containers meeting the requirements of the sanitation ordinances of the County of Madison, State of Idaho, and the regulations of the State of Idaho Health Authorities_ No machinery, appliances or unsightly materials will be used or stored in or around any lot. T l OAPPEARANCE No lot or parcel shall be neglected or permitted to fall into a unsightly displeasing or unattractive state, or permitted to be overgrown with weeds or strewn with rubbish. The Association shall have the power and shall be authorized in its discretion and at the request of any other Owners to remove or to take any other action upon such premises to remove rubbish, garbage, overgrown weeds or such other unsightliness without responsibility or liability to the complaining Owners, and at the expense of the failing or neglecting Owners. No odors shall be permitted to arise there from so as to render any such lot unsanitary unsightly, offensive or detrimental to any other lot, and no nuisance shall be permitted to exist or operate upon any lot so as to be offensive or detrimental to any other lot_ No cars registered or unregistered in an unoperatable condition shall be allowed to be parked in the common area parking or on any lot in the project. No structure (including but not limited to dwelling Units, walls and fences shall be permitted to fall into disrepair and all structures shall at all times be kept in good condition. b�/bbl"Lbbj l�: jb 1Lt7ts(a�1177� mL-Hknruui RrrL- rurvr ARTICLE VIII -EFFECTIVE DATE 8 EFFECTIVE DATE This declaration shall take effect upon recording. The Declarant has hereby executed this declaration this _ day of , 2003. Futures of Idaho By: President STATE OF IDAHO ) County of Madison On this day of 2003, before me the undersigned, a Notary Public in and for said State, personally appeared Blaine Robbins known or identified to me to be the President of Futures of Idaho that executed the within instrument and acknowle-dged to me that such, corporation executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and your first above written - Notary Public for Idaho Residing at My Commission Expires This agreement is made between Blair Heinz and Hyde Park a PRD. It is agreed upon that the irrigation ditches running east to west along 7th south located in Rexburg Idaho will be covered by the Hyde Park development. The north ditch will be filled and closed off. The south ditch will have a culvert installed the full length of Hyde Park which will be covered and compacted. The culvert size on the south ditch will match existing culvert running under 5t' west. A water head gate will be installed on west side of 5t'' west to allow water flow when needed to ditch running north to south along 5t' west to pond. Owner of property will be responsible for keeping proper flow thru ditch along 7t'' south. This agreement is made on March 6 2003. Signed by �. 45�,G4.