HomeMy WebLinkAboutCC&Rs - 22-00314 - Madison Square - 354 W Main - Condo Plat
COVENANTS – CONDITIONS – RESTRICTIONS (CCR)
for the development project located at 354 West Main St. in Rexburg
May 6, 2022
There will be a property management company contracted to maintain all common areas upon completion of the project or upon the completion and occupancy of any individual unit. Each owner
in the project will pay a fair and equitable annual maintenance fee to the property management company for the purpose of maintaining the parking area, the green spaces, the roofs,
snow removal, and any other common fixtures, structures exteriors and utilities not under the jurisdiction of the City of Rexburg. “Fair and equitable” shall be determined by total
square footage of roof space and by the number of parking stalls available to each owner.
In the event that it becomes necessary to bind all the owners under any other common obligations not required by law, such agreement shall be determined by a 2/3 majority vote (Voting
rights are described below)
Voting Rights Schedule
Single Townhome – two votes
Vertical triplex consisting of one townhome and two apartments – four votes
Four Plex – four votes
Total project votes – 30 votes total