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TABLE: OF CONTENTS
FOR THE .DECLARATION OF
SOUTH~VOOD OAFS FOURPLEXES
INTRODUCTORY
ARTICLE I - DEFINITIONS AND TERMS
.:.Paragraph 1:1-DEFINITIONS AND TERMS
ARTICLE II - FaURPLEX UNIT DESIGNATIONS AND DESCRIPTIaNS
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ARTICLE IV -MANAGEMENT AND ADMINISTRATION
ARTICLE VIII -MISCELLANEOUS PRO~IISIONS
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DECLARATION
FOR
SOUTHWOUD OAKS FOURPLEXES
THE STATE OF TEXAS
KNOW ALL MEN BY THESE. PRESENTS;
COUNTY OF BRAZOS
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THAT- WHEREAS BRADLEY-PERRY PROPERTIES, a Texas 'oint venture, Navin its
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principal office at 204 Suffolk, :College Station, :Texas 77840,. hereinafter called "Declarant",
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is the Owner of certain real property situated in the County of Brazos, State of Texas, .being
described more fully on Exhibit "A" ,which by his .reference is made a part hereof; and
WHEREAS, Declarant has prepared plans for -the construction of a cluster of six (6)
multifamily Buildings and other improvements appurtenant thereto on the Property described in
said Exhibit "A" ,which when completed shall consist of six (6) separately designated fourplexes
and which will be known as SOUTHWOOD OAKS FOURPLEXES; and
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WHEREAS:, Declarant does hereby establish a plan for the individual ownership m fee
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simple of estates consisting of the area or space contained in each of theplattedFourplex lots,
herein called the "Fourplex Regime", and the co-ownership by theindvidual and separate
~~' Fourplex Owners thereof, of all the remaining property, which includes both Limited~Common
~~ Elements and General Common Elements, as hereinafter defined in Paragraph l :1 hereof, and
which are hereinafter collectively referred to as the "Common Elements" .
NOW, ~ THEREFORE, ~ Declarant does hereby submit the real property described on the:.
~~~~ attached Exhibit "A", and all improvements thereon, to the provisions..of theAct and.the
Fourplex Regime, and .does: hereby publishand declare thatthe-followng terms covenants,
conditions, .easements, restrictions, uses,limtations, :and obligations shall be deemedto runwith
the land and shall be a burden and abenefit to Declarant, ~~its successors and.: assigns and to any
erson ac uirn or ownin an interest in the real ro e ~ and irn ~ rovements, ..their rantees,
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e~ successors,. heirs., executors, administrators,: devises- and assigns.
ARTICLE I
E
_, DEFINITIONS AND TERMS
1.1 DEFINITIONS OF TERMS. As used in this agreement, the following terms :shall: have the:
follow ng meanings unless the context shall expressly provide otherwise:
a. "Common Assessment" means the charge :against each Unit Owner and his Unit,
representing a portion of the. total costs to the Association of maintaining,:. improvng,repairing,
replacing, managing and operating ,the Property, which are to be paid uniformly and equally by
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-each Fourplex Owner of the Association, as provided herein. This shall 'also include charges
assessed against each Fourplex Owner to maintain a reserve for replacement fund and. to :cover
costs incurred by the Association to participate in any condemnation .suit, as provided in
Paragraph b.3 hereof.
b. "Common Elements" means and includes all of the Property located in plat 7, and
all of the improvements hereto and thereon ocated, including General Common Elements.
c. 'Common Expenses" means and includes:
(l) All sums lawfully assessed against the Common Elements by the Managing
Agent;
(2) All expense of administration and management, maintenance., 'operation,.
repair or replacement of and addition to the Common Elements (including unpaid special
assessments);
~3) Expenses agreed ~ upon as Common Expenses by the Fourplex Owners; and
(4) Expenses declared to be Common Expenses by this Declaration or by the By-
Laws.
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d. "Com lep ted Fourplex" means a com letel finished Unfit, includin ,but 'not limited
to, .:the :installation of all appliances and utilities, rendering it ready for_occupancy by an Owner
other than the Declarant.
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e, Fourplex Unit shall mean an mdwidual Unit together with the interest in the Common
'~ Elements (General or Limited) :appurtenant to such Unlt.
f. Declarant! shall mean BRADLEY-:PERRY. PROPERTIES, a Texas joint venture, or
r its successors or assigns, who is: developing. the Property: as a fourplex.
"Declaration" shall mean: this Fou lex Declaration instrument.:
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h. General Common Elements" means a part of the. Common Elements and includes:
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(1) The real property described in plat. 7 attached hereto;
k 2 All com artments or installations of central services, such as owes, light,
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ii gas, .cold. and hot water,. and the like;
it eneral ali devices or installations
(3} All garbage: collection services. and,: in g ,
existing for common use;. and
'~ (4} All other elements desirably or rationally of .common use or necessary to the
existence, upkeep and safety of the Fourplex Regime established by this Declaration.
1. Lenholder and: First Mort a ee shall mean the holder of a first
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on any Fourplex in he Fourplex Project.,:
j. "1Vialority of Four~lex Owners" means hose Owners with-fifty-one percent (51%) of
the votes entitled to be cast.
k. "Owner" means a person, firm, corporation, partnership, association, trust or other
legal entity or any combination thereof, who owns, of record, title to one (l} or more
Fourplexes.
1. "Plat" , Surve~Map" , "Map,' and "Plans" - mean or include the engineering survey of
the land, orating thereon all of the improvements, the floor.. and elevation plans and any other
drawing or diagrammatic plan depicting a .part of, or all of the improvements, same being
herewith filed. It is expressly agreed and each and every .Purchaser of a Fourplex, his heirs,
executors, administrators, ....assigns and grantees hereby .,agree that the square. footage., size and
dimensions of each Fourplex as set out or shown in this Declaration or in the survey Plats
exhibited hereto are. approximate .and are shown for descriptive purposes only. The Declarant
does not warrant, guarantee or represent that any Fourp ex actually contains the area, square
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footage or dimensions shown by he Plat hereof, f Each Purchaser and Owner of a Fourplex or
interest therein agrees that the Fourplex has been or will be purchased as actually. and physically
existing at the time such purchase is closed. Each Purchaser of a Fourplex expressly wanes any
claim or demand which he may have against the Declarant or any person whosoever on account
of an difference, horta a or discre anc between the Four lex as actuall and h sicall
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existing and as it is shown on the respective Plat thereof exhibited hereto. It is specifically
agreed that in ..interpreting deeds, mortgages, deeds of trust and other; ..instruments for any
purposes whatsoever or in connection with any matter, the existing physical ~ boundaries of the
Unit shall be conclusively presumed to be the boundaries regardless of settling, .:rising or lateral
movements of the Fou lex and. re ardless of variances between :boundaries as shown on .the
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Plat and those of the Fourplex.
n. "Premises" , "Pro. jest", or "Pro ert "means and includes the land, the Buildings and
all improvements and structures.-thereon; ..and all rights, easements and appurtenances belonging-
thereto
o. "Special Assessments" . In addition to he common assessments described above, the
Association., may levy, in any assessment year, a special assessment. applicable to that year only
for: the purpose of deferring, in whole or in part:
(1 } The cost of any construction, reconstruction,:.. repair or replacement of a
capital im rovement upon the Common Area, including fixtures .and personal property related
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thereto; or
~~ (2) :The expense of .any other contingencies or unbudgeted ,costs; provided ..that
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~~ any such assessment shall have the consent of two-thirds (2/3) of the votes of the Members who
are voting in person or by :;:proxy at a meeting duly caked for this: purpose. Any. amounts.
assessed pursuant .hereto ;shall be assessed to Owners in proportion to the .interest in the
Common Elements owned by each. The Association, after due notice and hearing, shall also
have the authori to establish and fix a s ecial assessment u on an Fou lex to secure the.
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:liability of the Owner of such Fourplex to the Association for any breach by such Owner of any
of the provisions of this Declaration, which breach shall require an expenditure by the.
Association: for repair or remedy. Special assessments may be billed or collected. on a monthly
basis.. Thee above mentioned liability of any Owner is to be established as set forth in this
Declaration.
p. "Four le~x" shall.mean the elements of an individual Fourplex which are not owned
in common with the Owners of the other Fourplexes in the Project as shown, on the Maps, which
are exhibits attached hereto, .and each Fourplex shall include the air space assigned thereto. The
boundaries of each such Fourplex shall be as settled in the plat.. In interpreting,,.. deeds,
mortgages.,.. deeds of trust and .other. instruments, the existing physical boundaries of the Unit
reconstructed in substantial accordance with the original plans thereof shall be conclusively
resumed to be its boundaries, regardless of settln , risin or lateral movement of the Building-
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and regardless of variances between: boundaries shown on the Plat and those of the Building.
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`ARTICLE II
FOURPLEX UNIT DESIGNATIONS AND DESCRIPTIONS
2.1 RECORDATION OF PLAT. The Plat. shall be :filed for: record. simultaneously with.
thee..: recording of this Declaration as a part hereof, and prior to the first conveyance of any
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Fourplex Unit. Such Plat consists of and sets forth::
a. The legal description of the surface of the. land;
b. The linear measurements and location, with reference to the exterior boundaries of
the. land, of the Buildings and all-other improvements constructed, or to be constructed on said
land by Declarant;
c. The exterior boundaries and number of each Fourplex, .expressing its square. footage,
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and other data necessary for lts identification;, .which information will be depicted by a Plat.
d. The location of the Limited Common Elements.
2.2 DESIGNATION OF UNITS. The Property is hereby divided into six (6) separately
designated. Fourplexe contained on six (6}separate lots and one commonly owned lot. Each Lot
is identified b number on the Ma 1 The remaining onion of the Premises, referred to as ,thee.
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Common Elements shall be owned in common b the Owners. The Owners. of each Fou lex
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shall own an undivided interest in said Common Elements,: the :percentage or fraction thereof for
each Fourplex.
2.3 REGULATION OF COMMON AREAS: Portions of the Common Areas are intended.
as .recreation areas, and maybe improved with green:areas, swimming pool, laundry room, and
other facilities: Reasonable regulations governing the use of such facilities by :Owners and by
their guests and. invites shall by promulgated by the Declarant, or by the Board of Directors of
the Association after the same has been elected. Such regulations shall be permanently posted
"~ at the office and/or elsewhere in said recreational areas, and all Owners shall, be furnished with
a :copy: thereof.. Each Owner shall be required o strictly .comply with said. Rules and
~ Regulations, and shall be responsible to the Assoclatlon for he compliance therewith by the
members of their res ective families, relatives, ests or invites, both minor and adult..
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24 INSEPARABLE FaURPLEXES. Each Fourplex and its Eorrespondingpro-rata interest
~ in and to the :Common.. Elements .appurtenant thereto; shall be -inseparable and may not be
conveyed, leased or encumbered separately,, and -.shall at all .times.: remain ...,.indivisible.
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2.5 DESCRIPTIONS . Eve deed, lease, mort a e, trust dee or o
legally describe a Fourplex Unit by its identifying Lot number, as shown on the Map, followed
by the words SOUTHw00D OAKS FOURPLEXES and by reference to this .recorded
Declaration and Ma . Eve uch descri tion shall be deemed good and sufficient.. for all
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purposes to convey:, transfer, encumber or~ otherwise affect the Common Elements.
2.b ENCROACHMENTS. If an onion of the Common Elements encroaches upon a
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Fourplex or Fourplexes, a vapid easement for the encroachment and for the maintenance of
same, so long as it stands, _shall and does' exist. If any portion or .portions of a Fourplex or
Fourplexes encroach upon the Common Elements, a valid easement for the encroachment and
for the maintenance of same, so long as it' stands, shall and does exist. A valid easement also
exists: to that portion of the General. Common Elements and of -the Limited Common Elements
occu ed b an art of an Owner's Unit nor contained within the h sical boundaries of such
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Fourp ex, including, but not limited to, space occupied by heating and air .conditioning
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equipment,. utility-lines and similar equipment which serves only one (l) Fourplex. For title and
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other purposes, such encroachments and easements .shall not be considered or determined to be
encumbrances either on he Common Elements or thee. individual Fourplexes.
2.7 GOVERNMENTAL ASSESSMENT. Declarant shall give written notice to the
Assessor's Office of the creation of Fourplex Ownership of this Property, as is .provided by law,
so hat each Fourplex and its percentage or fraction of undivided interest in the :Common
Elements shall be deemed a eparate parcel and subject to separate assessment... and taxation.
2.8 USE AND OCCUPANCY RESTRICTIONS.
a. Subject to the provisions of this Declaration. and By- Laws, no part of the
Property may be used for purposes other than housing and the related common purposes for
which the Property was designed. Each Unit or any wo (2) or more adjoining Units: used
together shall be used for residential purposes or such other uses permitted by this Declaration,
and for no other purposes. The foregoing restrictions as to residence shall not, however, be
construed in such manner as to prohibit a Fourplex Owner from (1) Maintaining his personal
professonaa library; (2) Keeping his personal business or professional records or accounts.; or
(3) Handling his personal business or professional telephone .calls or correspondence, which
uses are expressly declared customarily incidental to the principal residential..... use and .not in
violation of. said restrictions.
', b. That part of the :Common Elements separating and- located between and exclusively
serving two (2) or more adjacent Fourplexes used together may be altered with written consent
~~ of the Board, as provided in Paragraph 3:8 herein, to afford: privacy o the Occupants. of such
Units when using such Common Elements, and that part of the Common Elements so altered
may be used by the Unit Owner or Owners of such Units as a licensee pursuant.,: to a license
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agreement with the Association provided:
(1) The. expense of making such alterations shall be paid in fiull by the Fonrplex -Owner or
!~ Owners making such alterations;
c. The Common Elements shall be used onl b the Unit Owners and their- a ents,
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~; servants, .tenants, famil members, customers, invites and licensees for access ingress to and
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egress from the respective Units and for other purposes incidental o the use of the Units;
provided, however, any other areas designated for specific use shall be used.... for the. purposes
approved by the Board.
d. The use, maintenance and operations of the Common Elements shall not be obstructed,
~" llama ell or unreasonabl interfered with b an Fou lex Owner, and ma be subject to lease,
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concession or easement, presently inexistence or entered into by the .Board at some future-time.
e: without limiting the generality of the foregoing provisions of this Paragraph 2.9, use of the
Property by the Fourplex Owners shall. be subject to the following restrictions
(1) Nothing shall be toyed in the Common Element without prior: consent of the Board,
except in storage areas or as otherwise herein expressly -provided;
2 Nothin shall be done or ke t in an Fou lex or in the Common Elements which
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will .increase the :rate of insurance fore he Property without the prior written consent of the
Board. No Owner shall permit:: anything to be done or kept. in his Fourplex or in the Common
Elements which will result in the cancellation of insurance on any Fourplex, or any part of the
.Common Elements, or which will be in violation of any law;
(3) No waste shall be committed in or on the Common Elements;
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{4} Subject to Declarant's rights -under Paragraph 2.9e (14) (d) of this .Declaration, no
sign of any kind shall be displayed to the public. view on or from any Fourplex or Common.
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Elements without the prior written consent of the Board or the written .:consent of the Managing
Agent acting in accord with the Board's direction;
(5} , No noxious... or offensive activity shall be carried on, in or upon the Common
Elements, nor shall anything be done therein which may be or become an unreasonable
annoyance or a- nuisance to any other Fourplex. No loud noises or noxious odors shall be
permitted on the Property, and the Board shall have the right to determine in accordance with
the By- Laws if any such noise, .odor or activity constitutes a nuisance. without limiting the
generality of any of the foregoing provisions, no exterior speakers, horns, -whistles, .:bells or
other sound devices (other than: security devices used exclusively for security purposes}
noisy or smoky vehicles, large power. equipment or large power tools, unlicensed. off road motor
vehicles or other items which may unreasonably interfere with television or radio .reception of
any Unit Owner in the Property, shall be located, used or placed on any portion of the Property
or exposed to the view of other Owners without the prior written: approval of the Board;
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(6) Except as expressly provided hereinabove, nothing shall be altered or constructed
in or removed from the Common Elements, except: upon the-..written consent of the Board
(7) No structure of a temporary character, trailer, tent, shack., garage, barn or other }
outbuildings shall be permitted on the Property at any time temporarily or permanently, except
with the prior written consent of the Board; provided; however, that .temporary structures may
be erected for use in connection with the repair or rebuilding of the Building or any portion
thereof;
(S) No rubbish; rash, or garbage or other waste material shall be kept or permitted upon
any Unit or thee.. Common Elements, except in sanitary containers located in appropriate areas:
screened and concealed :..from view, and no odor shall be permitted to ~ arise therefrom so as to
render the Property or any portion thereof unsanitary,, unsightly, offensive.. or detrimental o any
~~ ... ther f r t i 11 b n xt ror fires
~; other Property in .the vicinity eo 0 o is occupants. There sha e o e e
~'~ whatsoever exce t barbecue fires contained within rece tacle desi ned in such a manner that
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~ no fire: is created. No clothing or house hold fabrics shall be hung, dried or aired in such alway
in the Property as to be visible to other Property and no lumber, grass, shrub or tree clippings,
plant: waste., metals, bulk material; scrape, refuse,. or .trash. shall. be: kept, ..stored or allowed to
accumulate. on an ortion of ~ the Pro ert exce t within an enclosed 'structure or if
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. appropriately screened from view;
(9} No Fourplex. Owner or Tenants shall park, store, or keep any vehicle, except wholly
within the parking space designated therefor, and any and any inoperable -vehicle shall not be
stored in a parking space or within the Common Elements in generah No Unit Owner shall
park, store or keep within or adjoining the Property any arge commercial-type vehicle (dump
truck, cement- mixer truck, oil.. or gas truck:,: delivery truck and any .other vehicle. equipment,
mobile or otherwise, deemed to be a nuisance by the Board), or any recreational. vehicle (camper
unit,.: motor home, ruck, railer, boat, mobile home or other similar vehicle deemed to be
anuisance by the Board}. No Fourplex Owner or Tenant shall conduct major repairs or major
restorations of any: motor vehicle, boat, trailer, aircraft or other vehicle upon .any portion. of
.the Common Elements. Parking spaces: shall be used fore parking purposes only;
(10} Except within individual Units, no planting, transplanting or gardening shall be
done, and no fences, hedges or walls shall be erected. or maintained upon -the .Property, except
as approved by the Board;
(11) Motorcycles, :motorbikes; motor scooters or other similar. vehicles shall not be
k operated within the Property except for the purpose of transportation directly.. from a .parking
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space to a point outside he Property to a parking space;
(12} No animals, livestock, ..reptiles, or poultry of any kind shall be raised, bred or kept
in any Unit or in the Common Elements. Dogs, cats, fish, birds and other household pets may
be kept in Units subject to ales .and regulations adopted by the Association, provided they are
not ke 't bred or maintained for commercial u oses or- in unreasonable uantities. As used
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in his .Declaration, "unreasonable quantities" shall ordinarily mean more han two (2) pets per
household; .provided, however,.,. the Association may determine a reasonable number in any
instance to be more or less, and the Association may limit the size and weight of any household
pets allowed. The Association, acting through the Board, shall have the right to prohibit
maintenance of any animal which constitutes., in the opinion of he Board, a nuisance. to ,any
other Fourplex Owner or Tenant.. Animals belonging to Fourplex Owners, Occupants or their
licensees, .tenants or invites within the Property must. be kept within an enclosure, an enclosed
patio or on a leash :being held by a ..person capable of controlling the animal. The enclosure
must be so maintained :chat the animal .cannot-.escape therefrom and` shall be subject to the
approval of the Board. Should any animal belonging o a Fourplex Owner be found unattended
out. of the enclosure and not ..being..,. held on a leash by a person capable of controlling the
anmal,ma be removed b Declarant (for so lon as it has .control over the Association) or a
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person designated by Declarant to do so, and subsequent thereto by the. Association or its
Mana in A ent, to a ound -under the 'ursdiction of the local munici alit. in which the
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.Property is situated and subject to the laws aid rules governing said pound, or to a comparable
animal shelter: Furthermore, any Unit Owner shall be absolutely liable tQ each and all
~ remainin Fou lex Owners their families ests tenants and invites, for an unreasonable
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noise or damage to person or property caused by :any animals brought or kept upon the Property
by a Unit Owner or members of his family, his tenants: or his guests; and it shall be the absolute
'i; duty and responsibility of each such Fourplex Owner to clean. up after such animals which have
1 used an ortion of the Common Elements;
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~~ 13 No Fou lex Owner shall be errntted to lease his Units for hotel or transient
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purposes, which, for purposes of this paragraph is defined as a period less than thirty (30) days.
No Fourplex Owner shall be permitted to lease less than one entire ...Unit. Every such lease shall
be in writing.. Every such lease shall provide that the leases shall be bound by and subject to
all of .the obligations under the Declaration and By-Laws, of the Unit .Owner making such lease
and failure to do so shall be a default thereunder. The Fourplex Owner making such lease shall.
not be relieved thereby from any of said obligations; and
(14) In order that Declarant may establish the Property as a fully occupied Fourplex, no
Fourplex Owner nor the Association shall do ;anything to interfere with, and nothing in the
Declaration shall be .understood or construed to -
(a) Prevent Declarant,` its successors or assigns, or its or their contractors. or
subcontractors, from; doing in any Unit owned by them whatever they determine to be necessary
or advisable in the connection. with the completion of any work thereon;
(b) Prevent Declarant, its successors or assigns, or its or their representatives,
from erecting, constructing and maintaining on he Common Elements or any Unit owned or
controlled by Declarant,.: its successors of assigns., or its or their contractors or subcontractors,
such structures as may be reasonably necessary for the:. conduct of its or their business of
com lain an work and estab shn the Pro ~ ert as a: Fou lex and dis osin of the same.. by
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sale, lease:.,: or otherwise;
(c) Prevent Declarant, its successors or assigns, or its or their contractors or
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subcontractors, :from maintaining such sign or signs for -marketing of Units in the Property.
2.1 RESERVATION OF VARIANCE. Notwithstanding any provision of this Declaration to
the contrary, the Declarant reserves unto itself the exclusive right to amend the Fourplex Plat
and to vary the size, shape, physical lay-out or location of the:.. unsold Units and to
correspondingly adjust the sales price and the percentage or fraction of ownership of the
Common Elements or the respective Units: unsold. Such adjustment in the percentage or fraction
~ of ownersh of the Common Elements will onl affect those Units owned b the Declarant, and
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will not change or affect the percentage or fraction of ownership of any other Unit. This
reservation shall be effective for any annexed.and merged Fourplex Regimes but shall not work
to readjust or reallocate any vested interests in the Common Elements related to any sold
Fourplexes.
ARTICLE III
RIGHTS AND OBLIGATIONS OF OWNERSHIP
3.1 OWNERSHIP. A Fourplex will be a fee simple estate and may be held and owned by
any person, firm, corporation or other entity singularly, as joint tenants, as tenants in common,
or in any real property :.tenancy .relationship recognized under the laws of the State. of Texas.
3.2 ' PARTITION. The Common Elements (bath eneral and limited) shall be owned in
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common b all of the owners of the Fou lexes -and shall remain undivided and, no Owner shall
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brin an action for artition or division of the Common Elements other than that as pecifieally
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provided for hereinafter in Paragraph 62, "Judicial Partition" . Nothing contained herein ....,.shall
be construed as limitation of the ri ht of artition of a Fou lex Unit between the Owners
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thereof, but such artiton shall.: note affect any other Fourplex Unit.
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~~ 3.3 EXCLUSIVENESS OF OWNERSHIP. Each Owner shall be entitled to exclusive
~! ownership and ..possession of his Fourplex. Each Owner may .use, the Common Elements in
`' accordance with the purposes for .which they are intended, without hindering or encroaching
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'' upon the lawful rights of the other. Owners.:
- RE IDENTIAL DWELLING. Each Fou lex Unit shall be occu ied
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and used or leased by the Owner only as and for a -residential dwelling for the Owner, his
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` family,..: his; social guests or his tenahts.
3.5 MECHANIC'S AND MATERIALMAN' S LIENS . No labor performed or materials
.furnished and incorporated in a Unit notwithstanding the consent or request of the Owner, his
.agent, .contractor or subcontractor, shall be the basis fore filing of a lien against the Common
Elements owned by such other .Owners.:.. Each Owner shall indemnify and hold harmless each
of .the .other Owners from and against all liability arising: from the claim of .any: lien agaihst the
Unit of any other .Owner or against the Common Elements for construction performed or for
labor, materials, services or other products incorporated in the Owner's Fourplex at such
Owner's request.
3.6 RIGHT OF ENTRY. The Association shall have the .irrevocable ..right to .have access
to each Unit from time to time during reasonable hours as may be necessary for thee.
maintenance, .repair or replacement of any of the Common Elements therein or accessible
therefrom, or at any time for making emergency- repairs therein necessary.: to prevent damage to
-the Common Elements or o another Unit or Units..
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3.7 OWNER MAINTENANCE.. An Owner shall maintain and. keep in repair the interior,
patio and/or balcony space, and storage space of his own Fourplexf including the fixtures
thereof. All fixtures and equipment installed with the Fourplex, commencing at a point where
the utility lines,pipes, wires,: conduits: or systems (which for brevity are hereafter referred to as
"utilities") enter the Fourplex, shall be maintained and kept in repair by he Owner thereof; and
an owner shall be maintained and kept in repair by the Owner thereof; and- an Owner shall be
obliged to promptly repair and replace any broken or cracked glass in windows and `doors. An
Owner shall be totally responsible for his own heating and cooling system.
3 . S ALTERATION. An Owner shall. do no act nor any work that will impair the structural
soundness and integrity of the Building or impair any easement or hereditament. No Owner
shah in any.. way alter, modify, add:,. to or otherwise perform any work whatever upon: he
Common Elements, without thee: prior written;. consent and approval in writing by the Board of
Directors. Any such alteration or modification shall be in harmony: with the external design. and
location. of the surrounding structures and topography, and shall not be considered until
submission to the Association of complete pans .and specifications showing the nature, kind,
shape, size, materials, color, and location for all proposed work. The Board shall have the
obligation to answer within thirty (30) days after receipt. of notice of the proposed alterations.
Failure to so answer within the stipulated time shall mean that there is no objection to the
proposed alteration or modification. During ..the Construction Period, Declarant shall have the
sole ri ht to a rove or reject any plans and specifications submitted for consideration by an
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`Owner.
3.9 RESTRICTION OF OWNERSHIP. - As a restriction of the ownership provisions set
forth in Para ra h 1.1 - "Unit" an Owner hall not be deemed to own he utilities rennin
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'' through his Fourplex which are utilised for, or serve, more than one (1) Unit, except as a tenant
in common with the other Owners. An Owner shall be deemed tQ own and shall maintain the
inner, furnished surfaces of the perimeter and interior walls, floors .and ceilings., doors, windows
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~~ and other. such elements consisting of paint, wallpaper and other. such finishing material.
'I' r mainten nce or
~ 3 ..1.0 LIABILITY FOR NEGLIGENT ACTS . In the event the need fo a
'~ re air is caused through the :willful or negligent act of an Owner, his family, guests, invites or
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~~ tenants, and is not covered' or paid. for by insurance either on such Unit or the Common
Elements, the cost.: of such maintenance or repairs shall be added to and become a part of the
assessment to which such Unit is sub'ect, ursuant to Article IV hereof. Such labil is limited
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to the liability Owner has under: Texas Law .
3.l l SUBJECT TODECLARATION AND BY-LAWS, Each Owner and the Association
shall comp y strictly with the provisions of this Declaration, the By-Laws and the decisions and
resolutions of the Association :adopted pursuant thereto, as the same may be lawfully amended
from time to time. Failure to comply with any of the same shall be grounds for an action to
recover sums due for damages or for injunctive relief,.: or both, maintainable by the .Association
on behalf of thee: Owners or, in proper case, by an aggrieved.. Owner against another Owner or
against the Association:
ARTICLE IV
MANAGEMENT AND ADMINISTRATION
4.1 BY-LAWS. The: administration of this Fourplex Property shall be governed by the By-
Laws of S:OUTHw00D OAKS FOURPLEXES ASSOCIATION, referred to herein as the
"Association" . An Owner of a Fourplex Unit, upon; becoming an Owner, shall be a member
of the Association and shall remain a Member for the :period. of his ownership. The Association
..shall be managed by a Board-of Directors,. duly appointed or elected, pursuant to the terms and
conditions of he By-Laws. In addition, the Association shall enter into a management
agreement upon the . terrr~s and conditions established in the By-Laws, and said .management
agreement shall be consistent with this Declaration.:,
4.2 SPECIFIC POWER TO -RESTRICT.. USE AND ENJOYMENT:. Every Owner and. he
. Declarant shall have a beneficial interest of use and enjoyment in the Common Elements subject
to the following limitations, restrictions and provisions:
a. The right of the .Association to publish rules and regulations governing use of he
Common Areas and .the:. improvements and facilities located: thereon, and to establish and enforce
penalties for infractions: thereof;
b. The right of the Association to charge reasonable fees for the use of facilities within
the Common Area, if such facilities are not used by all Members equally;
c. The right of the Association to borrow money and mortgage the Common Area.. and
improvements for the purpose of improvement: the Common Area and facilities and in aid thereof
to mortgage said property; providing:, however, that the rights.. of any uch Mortgagee in such
property shall be subordinate to the rights of the Owners hereunder, and in no ;event shall any
such Mortgagee have the right to terminate the Fourplex Regime established by t 'nis Declaration;
r d. The right and (duty of he .Association to suspend:. the voting rights and' the right to the
r' use of the recreational facilities by an owner for any period during which any assessment against
the Owner's Fourplex Unit remains unpaid;
e. Thee: ri ht of Declarant or the Association after the Declarant Control Period. to
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dedicate or transfer all or any part of the Common Area for utility-easements to any public
agency,: authority or utility for the purposes, and subject. to the conditions, of such agency,
.. roved b all First
authority or utility. No such dedication or transfer shall be effective unless app y
Mortgagees. and two-thirds. _(2l3) ;vote of the quorum of Owners present at a meeting. of .the
cificall .:called for the u ose of a rovin an such dedication or transfer and
Assoc anon spe y P ~ Pp g y
unless an instrument signed by the Board of Directors reflecting such vote of the Owners
agreeing to uch dedication or transfer and First ~ Mortgagee approval has been duly recorded in
the. Fourplex Records of Brazos.. County, Texan.
f. The right of he Association to adopt, implement and maintain a private security
system for the Premises consistent with applicable laws;
g. The right of the Association to establish rules and regulations governing traffic within
the Common Area, and- to establish sanctions for anyviolation or.:violations of such rules and
regulations;
h. The right of the Association o regulate- noise within the Premises, including, not
without. limitation, the right of the Association to require mufflers on engines and to prohibit the
use of devices producing excessive. noise; and
i. The, right of the Association:.. to control the visual. attractiveness of the... Property,
~~ ~ includn ,without limitation, the ri ht ore uire Owners to eliminate ob'ects which are visible
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from the Common Area and which, in ahe Association's judgement, detract from the visual
attractiveness of the Property.
4.3 MEMBERSHIP, VOTING QUORUM, PROXIES.
a. Membership.: Any person on becoming an Owner of a Fourplex Unit shall automatically
become a Member of the Association. Such membership shall terminate without any formal
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Association action whenever such person ceases to own a Fourplex Unit but such termination
shall not xelieve or release any such former. Owner from any liability or obligation incurred
under or in any connected with SOUTHWOOD OAKS FOURPLEXES .during the period of such
ownership and membership of the Association, or impair any rights or remedies which the Board
of Directors of the Association or others may have: against such former Owner and Member
arising out of or in any way connected with such .ownership and membership and the covenants
and: obligations incident thereto. No certificates of stock.shall be issued by the Association, but
the Board of Directors may, if it so elects, issue. one (one) membership card to the Owner(s) of
a Fourplex Unit. Such membership card shall be surrendered to the Secretary whenever
ownership of ahe Fourplex Unit designated thereon shall terminate.
b. Voting Unit ownership shall entitle the Owner(s) to cast one. (1) Vote per Fourplex in
the affairs of the Association, which vote will be weighted to equal the proportionate share of
ownership of the Unit Owner in the Common' Elements. Voting shall not be split among more
than one (1) Unit Ownere The present number of ores that can be cast by the Fourplex Owners..
is six (6). Should additional property be annexed in accordance with Paragraph 2.11 hereof, the
total number of votes shall be increased accordingly, and the weighted average adjusted to total
one hundred percent (100 % } .
c. uorum. The majority of the Fourplex Owners as defined in Article I shall constitute a .
Quorum.
d. Proxies Votes may be cast in person or by .proxy. Proxies may be filed with the
Secretary before the appointed time of each meeting.
4.4 Insurance.
a. The Association shall obtain and maintain at all dimes insurance of the type and kind
provided hereinafter, including uch other risks, of a similar or dissimilar nature, as are or shall
hereafter customarily be covered with respect o any Fourplex buildings, fixtures, equipment or
personal property, `similar in construction, design and use, issued by responsible insurance
companies authorized to do business in the State of Texas. The insurance shall be carried in
blanket policy form naming ahe Association and all Mortgagees as the insured. In addition, each
policy or policies shall identify the interest of each Fourplex Unit Owner and shall provide for
a standard., noncontributory mortgage clause in favor of each First Mortgagee. Further, the
policy shall insure against loss or damage by fire; vandalism:, malicious mischief or other such
hazards. as are covered under standard extended coverage provisions for the full insurable
replacement cost of the Common Elements and the .Units:, and against such other hazards and
.fore such amounts as the Board ma deem advisable. Each Owner rrevocabl des notes the
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Owners Association, as Attorney in Fact, to :.administer. and distribute such proceeds as is
elsewhere provided in his Declaration. Such insurance policy shall also provide Ghat it cannot
be canceled by either the insured or thee:: insurance company.. until after thirty (30) days prior
written notice to each First Mort a ee. The Board of Directors shall, u on re nest of an First
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Mortgagee;. furnish a certified copy of each blanket policy and a eparate certificate ,identifying
the... interest of the Mortgagor.
b Any insurance obtained by the Assocation'or a Fourplex Owner shall contain appropriate
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provisions whereby he insurer waives its right of subrogation as to any claims. against the Unit
Qwners Association.. or .their respective servants, agents ar guests.
ARTICLE V
MAINTENANCE ASSESSMENTS
S.l ASSESSMENTS FAR COMMON EXPENSES. All Owners shall be obligated to pay
the estimated assessments imposed by the Association:: to meet the Common Expenses.
Assessments for the estimated Common Expenses shall be due monthly in advance on or before
the first (lst) day of each month.. Failure to pay by the fifteenth (15th) day of each month shall
require the .:imposition and assessrn.ent of a late'charge of Five Dollars ($5.00). Contribution- for
monthly assessments shall be prorated if he ownership of a Fourplex Unit commences on a day
other than ;the first (l st) day of a month.
5.2 PURPOSE OF ASSESSMENTS. The assessments levied by the Association shall be
used exclusively for the purposes of promoting the health,. safety, welfare and recreation of the
residents in :the Property', and in particular for thee: improvement, maintenance and preservation
of the Property, the services and facilities devoted to said purposes that are related to the u e
and:: enjoyment of both the Common Elements and the Units situated upon the Property. Such
uses may include, but are not limited to, the cost to the Association. of the following: all
.insurance, repair, replacement and maintenance of the Common Elements; fire, extended
coverage, vandalism, malicious- mischief and liability insurance for the Fourplex Units ;
management costs, taxes, legal .and accounting fees as may from tune to time be authorized by
the Association; construction of other facilities; maintenance of easements upon, constituting a
part of appurtenant to or for the benefit of the Property;. mowing grass, caring for the grounds
~ ~ and landsca in all arkng, parking ...access:.: roads, or paved.. common. areas; water retention
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area,. and required .fencing around:. perimeter. of the Property; all compartments or installations
~ of central services, such as power, light, gas, cold .and hot water, and the like; garbage pickup;
~` street maintenance; outdoor li htin ; securi service for the Pro erty; water and sewer .....service
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furnished. to the Property by (or through the Association; discharge.. of any liens on .,the Common
': Elements; and other charges: required by this Fourplex Declaration,. or other charges that the
k Association shall establish to reserve for repair, maintenance and other charges as specified
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herein.
5.3 DETERMINATION OF ASSESSMENTS. The assessments shall be determined by the
Board of Directors based upan the cash requirements necessary to provide for the payment of
all estimated expenses growing out of or connected with the maintenance and operation of the 4
Common Elements. This determination may include, among other items, taxes, governmental
assessments, landscaping and grounds care, Common Area lighting, repairs and renovations
garbage collections.,.. wages, water...charges, legal and accounting fees, management costs and
fees., expenses and liabilities incurred by the Association under or by reason. of this Declaration,
expenses incurred.: in the operation and .maintenance of recreation and administrative facilities,::
payment of any deficit remaining from a previous period and. the creation of a reserve
contingency fund.: The omission or failure of the Board o fix the assessment for any month
shall not be deemed a Waiver, .modification or a release of the Owners from tthe obligation. to
pay.
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5.4 INITIAL ASSESSMENT AND MAXIMUM MONTHLY ASSESSMENTI
a. The monthly assessments shall be made according to each Owner's proportionate or
percentage interest in and to the Common Elements.
b. As of January 1'st of thee...: year immediately following the conveyance of the first (lst}
Fourplex Unit to an :Owner other han the Declarant, the Board of Directors may set: the monthly
assessment for the next succeeding twelve (12)-month period at an amount -which shall not
exceed the-one hundred twenty percent (120%} of the monthly: assessment allowed for January
of the preceding year. If the Board determines at .any time during the calendar year that a
greater: increase of the monthly assessment is required to adequately perform the. duties and
responsibilities of the Association and pay all expenses thereof,. then the Board may call a special
meeting of the Owners. By the assessment of a two-third (2/3}vote of the quorum. of Owners,
present at such meeting;, the monthly assessment may be set.:. at whatever level such Owners
approve. The new assessment shall become the basis.. for :future annual .,increases, using the one
hundred twenty percent (120%) formula, as above outlined.
c. The Board of Directors shall have authority to lower the monthly assessment, if it deems
feasible.
5.5 SPECIAL ASSESSMENTS FOR IMPROVEMENTS. In addition to the: annual
assessments authorized above, at any time the .Association .may levy in any calendar year a
special assessment applicable to that-year only, for the purpose. of defraying, in whole or in part,
the cost of any construction or reconstruction:, repair or replacement of improvements upon the
Common Area,. including the necessary fixtures and personal: property related thereto, provided
that any such assessment shall be approved by atwo-thirds (2/3}vote of the quorum of .Owners
voting in .person or by proxy at a meeting duly called fore .this.:. purpose; The Declarant will be
treated..: as all Other Unit Owners:: for purposes of pedal assessments.
~ 56 COMMENCEMENT OF `ASSESSMENTS. The monthly assessments provided for
herein shall be due on the first (1st) day of the month.. The assessments shall be prorated if the
ownershi of a Unit commences on• a da other than the first lst da of the month followin
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the transfer to the Association of the:,responsibility for maintenance of the Building in which..the
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Unit is located in accordance with Paragraph 5.11 herein. The Board shall fix the amount of
the monthly assessments against.: such Unit at least thirty. (30) day prior to January l st of each
year; provided, however, that the: Board shall have a night to adjust the monthly assessments,
as long as any such adjustment does not exceed the maximum permitted .hereunder, with thirty
(30) days' written notice given to each Owner. Written notice of the monthly assessment.
adjustment shall be sent: or every Owner subject thereto. The due date shall be established by
the Board, and unless otherwise provided, nor unless otherwise agreed by the Association, the
Board shall collect the rise sments monthly in accordance with Paragraph 5.1 hereof.
5.7 NO EXEMPTION. No Owner may exempt himself .from liability ...,.from. his
contribution towards the Common Expenses:. by waiver- of the use or enjoyment of any of the
General or Limited Common Elements.
5.8 LIEN `FOR ASSESSMENTS ..
a. All sums assessed but. unpaid by ~a Fourplex Owner for its share, of Common Expenses
chargeable ~ to its respective Fourplex .Unit, including interest hereon at ten percent (10 %) per
annum, shall constitute a lien on such Unit superior (prior) to all other ims and encumbrances,
:..except. only for:
(1) All taxes and special assessments levied by governmental and taxing
authorities; and
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(2) All liens securing sums due or to become due ;under any: duly recorded
mortgage ;vendor's lien or deed; of trust.
b. To evidence such lien the Association may, but shall not be required to, prepare
written notice setting forth the amount of such unpaid indebtedness, the name of the .Owner: of
the Fourplex Unit and a description of the Fourplex -Unit. Such notice shall be signed by one
(1) of the Board. of Directors and may be recorded in thee.Offve of the: Clerk and Recorder of
Brazos County, Texas. Such lien for the Common Expenses shall attach from the date of the
'~ failure ' of payment of he assessment. Such lien may be enforced by foreclosure of the
F u Iex Unit b the Association. An such foreclosure sale i to be
~, defaulting Owners o rp y y s
conducted in accordance with the provisions applicable to the exercise of powers of sale. in
mortgages and deeds of trust, as set forth in Article 3810 of the Revised Civil Statutes of the
State of Texan,.:.: or in any manner permitted by law.: Each Owner, by accepting a :.deed: to his
Fourplex, expressly grants to the Association a power of sale, as set forth in said Article 3.810,
in .connection with the assessment lien.. In any uch foreclosure, the Owner shall be required.
to pay the costs and expenses of such proceedings, the costs and expenses fore. filing the notice
or claim of lien and all reasonable attorney's fees. -The Owner shall also, be required to pay to
the Association reasonable rental fees for the Fourplex Unit during the period of foreclosure,
and the Association shall be entitled to a receiver to collect the same: The Association shall
have the power to bid in the Fourplex .Unit at foreclosure sale and to acquire .and hold,. lease,
mortgage and convey same.
~~ c. The amount of the Common Expenses assessed against each Fourplex Unit shall also. be
a debt of the Owner thereof at the: time thee. assessment is .made. ..Suit to recover a money
judgment far unpaid Common Expenses. shall be maintainable without foreclosing or waiving the
lien securing .same.:
~, d In addition, to the .:extent permitted by law,: Declarant reserves and. assigns to the
~. Association, without recourse, a vendor's lien against each Fourplex to .secure payment of a
common assessment or special assessment which is levied pursuant to the terms hereof. Said
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liens may be enforced by- appropriate judicial proceedings and .the expenses incurred in
~~ connection therewith, includng, but not lmited to interest,. costs and: reasonable attorney'sfees,
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shall be chargeable to the Owner in default. Such lien shall. be subordinated and inferior to
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those liens listed in Subparagraphs 5.8a (1) and {2).
e. Any encumbrancer holding a lien on a Fourplex ..Unit may pay any unpaid Common.,
Expense payable with respect to such Unit, and upon such payment, such encumbrancer shall
have a lien on such Unit for thee. amount paid ' of the same rank as the ien of his encumbrance.
5.9 SUBORDINATION OF THE LIEN TO MORTGAGES. _ The lien of the assessments
provided for herein shall be subordinate, to the-lien of any recorded mortgage or mortgages
granted or created by the Owner. of any Fourplex Unit to secure the payment of monies advanced
and used for the purpose of .purchasing and'lor improving,. such Unit. Sale or transfer of any .Unit
shall not affect-the assessment lien; provided, however, that the sale or transfer of any Fourplex
Unit pursuant to a foreclosure, a deed in lieu of foreclosure, assignment in lieu of foreclosure.
under such purchase money or improvement mortgages or(deeds of .trust shall extinguish.. the lien
of such... assessments as to payments thereof coming due prior to such sale or transfer, except for
claims fore its ro-rata share of such assessments resultin from a reallocation amon all
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Fourplexes which reallocation, if necessary,. will require a readjustment of the common
assessment as provided in Paragraph 3.4b. No-sale or transfer shall relieve such Fourplex Unit,.
or the Owners thereof, from liability for any assessments thereafter becoming due or from the
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lien thereof
5.1o STATEME~tT OF ASSESSMENTS'. Upon he written request of any owner or any
.encumbrancer or prospective encumbrancer of a Fourplex Unit, the Association, by its Board
of Directors, shall issue a written statement setting forth the :unpaid assessments, if any, with
respect o the subject Fourplex, the amount of the current monthly assessments, the date of such
assessment and the due date, credit ;for advance payments or for prepaid items, including, but
not limited to, insurance premiums, which shall be conclusive upon the Association in favor: of
all-persons who rely thereon in good :faith. Unless such request for. a statement of indebtedness
shall be com lied with .within ten (lo) days, all unpaid assessments which become due prior to
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the date of making of such request shall be subordinate to the - lien of the person requesting such
statement.
The Purchaser, _ Donee or other ..transferee.. of a Fourplex, by deed or other writing (herein
called-"Grantee.:"}, shall be jointly and severally liable with the transferor of such Fourplex
(herein called "Grantor") for all unpaid assessments against the.. latter for his proportionate share
of the Common Expenses up to the time of the grant or conveyance, without prejudice to the
Grantee's right to recover from Grantor he amounts paid by the Grantee, but such transferee
shall be personally liable only if he expressly assumes such liability. The Grantee shall be
entitled to a .statement from the Board of Directors,.. setting forth the amount. of the unpaid
assessments, if any, with respect to the subject Fourplex, the amount of the currently monthly
assessment and;:-the date such :assessment becomes :due, as well as any credit for advanced
payments or for ..prepaid items,: including, but not limited to, insurance premiums.., This
statement shall be conclusive upon the Association. Unless- such request for a statement of
indebtedness shall be complied with within ten (10} days of such request, such Grantee shall not
be liable_for, any unpaid assessments against. the subject Fourplex Unit accruing prior., to'such
ten (10)-day period.
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ARTICLE ~I
DESTRUCTION OR OBSOLESCENCE OF. IMPROVEMENTS
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6.1 DESTRUCTION OR OBSOLESCENCE.
a. This Declaration hereby makes mandatory the irrevocable appointment of an Attorney.
In Fact to deal with the Property upon its destruction,: obsolescence or condemnation. Title to
any Fourplex Unit is declared and expressly .made subject to the :terms and conditions hereof,
~~ and acceptance by any Grantee of a deed ..from the Declarant or from any Owner shall .constitute
a ointment of the Attorne In Fact. herein provided. All of the Owners irrevocably constitute
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and a oint SOUTHWOOD OAKS:. FOURPLEXES ASSOCIATION, or its successor non-profit
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corporation, if same be hereafter organized, their true and lawful Attorney in their name,. place
and stead, for the purpose of dealing with the Property..-upon its destruction, obsolescence or
condemnation; as hereinafter provided. As Attorney.In Fact, the Association, by its authorized
officers shall have full and complete authorization, right .and power to make, execute and deliver
any contract, deed or any other instrument with respect to the interest of a Fourplex Unit Owner
which is nece nary and appropriate to exercise the powers herein granted..
gib. Repair.. and reconstruction of the improvement(s), as used in .the succeeding subparagraphs,
E~ means restoring the improvement(s) to substantially the. same condition inexistence prior to the
j lama e, with each Unit and :Common Elements having he same. vertical and horizontal
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boundaries as before. The proceeds of :any insurance collected shall be made available to the
Association for the purpose of repair, restoration or replacements, .unless all of the .Owners and
all of the First :Mortgagees agree not to rebuild in accordance with the provisions set forth
hereinafter:
!, (1) In the event of damage or destruction due to fire or other disaster, the insurance
proceeds, if sufficient to reconstruct the improvements}, shall be applied by the Association,
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~~~ as Attorne In -Fact a such reconstruction, and the im rovement(s) shall be rom tl re aired
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and reconstructed.
~ (2) If the insurance proceeds are insufficient to repair and reconstruct the
improvement(s), and if such damage is note more than sixty-.six .and two-thirds percent.(66-213 %}
of all the Common Elements, not:.:. including land, uch damage or destruction shall be promptly
repaired and reconstructed by the .Association, as Attorney In Fact, using the proceeds of
insurance and the .proceeds of an assessment to be made against all of the Owners and ,their
Fourplex Units: Such deficiency :.assessment shall be a special assessment make pro.,,,-rata
according to each Owner's proportionate interest in and to the Common Elements and shall be
due'; and a able within thirty (30) days after written notice thereof. The Association shall have
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the !authority to cause the repair or restoration of the. improvements using all of .the insurance.
proceeds for such purpose notwithstanding the failure of an Owner to pay the .,assessment... The
assessment"provided for herein: shall be a debt of each:Owner and lien on his Fourplex Unit and
.may be enforced and collected as provided in Article: V hereof. The lien .provided fOr 'erein
shall be subordinate to any .:recorded first mortgage lien,. as provided in Paragraph 5.9 of .this
Declaration. Should the Association choose to foreclose such lien, as provided in Article V, the
roceeds derived from the sale of such Fou lex Unit shall be used and dis ersed b the
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Association, as -Attorne In Fact, in the following order:
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(a) For .payment of taxes 'and special ..assessment: liens in favor of any
governmental assessing entity;
(b) :For payment of the balance of the lien,:of any first :mortgage;
~~~ ~ (c) For a ment of unpaid Common Expenses.;.
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~~ (d) For payment f junior liens and encumbrances in the order and extent of their
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(e) The 'balance remaining, if any; shall be paid to: the Fourplex Owner.
t' 3 If more than six -six and two-thirds percent (b6-2/3 %) of all. the Common Elements,..
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not including land, are destroyed or damaged, and if the. Owners representing the aggregate
ownership of one .hundred percent (100 %) of the Common Elements, do not voluntarily, within
one hundred (100) days thereafter,. make provisions for reconstruction, the Association shall:
forthwith record a notice setting-forth such ~~fact or facts, .and upon the recording of such notice
by the: Association's.. President and .Secretary, .the entire remaining Premises shall. be sold by the
Association; as Attorney In Fact for all of the Owners, -free and clear of the provisions contained
in this Declaration the Plat and the B -L' aws. The insurance ettlement roceeds shall be
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divided by the Association according. to each Unit Owner' interest.. (as -such interests appear on
the,.... policy or policies), and such divided proceeds shall be paid into six (b) separate accounts,
each such account representing one (1) of 'the Fourplex Units in the.. total Project. Each such
account shall be in he name of the Association and shall be further identified. b the number
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of the Unit and the .name of the .Owner. ~ From each se agate account, the Association, as
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Attorney In Fact, shall use and disburse the total amount. (of each).: of such accounts, without
contribution.. from any. one (l ): account to another,., .toward the full payment of the hen of any first.
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mortgage against the. Fourplex represented by such separate account. There shall be added to
each such account, the apportioned amount of the proceeds derived from the sale of the entire
Property. Such apportionment shall be based upon each Fourplex Unit Owner's proportionate
interest in the Common Elements. The total funds of each (account shall be used and disbursed,
without contribution from one (1) account to another, by the Association, as Attorney In Fact,
for the same purposes and in the same: order as is provided in Subparagraphs b(2)(a) through (e)
of Paragraph 6.1 hereof. Any decision to erminate the Fourplex status as herein provided must
have the approval of First Mortgagees holding mortgages on Units which have at least fifty-one
percent '(51 %) of the votes of the Association.
(4) If the Owners representing a total ownership interest of .one hundred percent (100 %)
of .the Common Elements adopt a plan for reconstruction, hen all of the Owners shall be bound.
by he terms and provisions of such plan. Any assessment made in connection.- with such plan
~ shall be a Common Ex ense and made pro rata according to each Owner's proportionate interest
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in the .Common Elements and shall;be due and payable as provided by the terms of the plan.
The Association shall have the authority to cause the.. repair and restoration of .the Improvements
using all of the insurance proceeds for such purpose notwithstanding the failure of an Owner to
pay the assessment. The assessment provided for herein shall be a debt of each Owner and a
~ lien on his Fou lex Unit and ma be enforced and collected as is rovided in Paragraph 5.8
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hereof but will be subordinate to an rior recorded first most a e ien, as rovided in
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Paragraph 5.9 hereof. Should the Association foreclose said assessment lien, as provided in
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Paragraph 5.8, he proceedsderived from saleof suchFourplex Unit shall be used and disbursed.
'~ ~ b the Associaton,as Attorney In Fact, fore. the same purposes .and in the same _order as is
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t provided in Subparagraphs b(2)(a) .through (e) of Paragraph 6.1 hereof.
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(S) The Owners representing an aggregate ownership interest of sixty-six and two- birds
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~, ercent (6b-2/3 %) of the Common Elements or more, may agree that the Common Elements of
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~' the .Property are .obsolete and that the same should ;be renewed.. or reconstructed... In such
'~ instance, the expenses thereof shall be payable by all of the Owners as Common Expenses..
~; (b) Any restoration, reconstruction or repair. of the Project shall be performed
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~~ substantiall in accordance with this Declaration and the on final Plans ands ecifications unless,
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~' other action is approved by the holders of mortgages on Units which have. at least fifty-one
ercent (51 %) of the votes of the Association.
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(7} The Owners representing: an aggregate ownership interest of one hundred percent
(t00%) of the Common Elements and..all holders of first mortgages-may agree that the Common
Elements of the Pro a are obsolete and that the same should be sold. In such .instance, .the
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~ Association shall record a notice ettin forth such fact or facts, and~u on the recordin of such.
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notice b thee Associations authorized officers, the entire Premises shall be sold b
.Association, as Attorney In Fact, for all of the Owners, free and clear of .the provisions
contained in this Declaration,. the Plat and the By-Laws. The sales proceeds hall be apportioned
...between the Owners and First Mortgagees as their interests may appear on the basis of each
Owner's percentage: or fraction of interest in the Common. Elements, and such apportioned
proceeds shall be paid into six (6) separate accounts, each such account representing .one
Fourplex ..Unit.. Each such account shall be in the name of the Association, and shall be further
identified by the number of the Fourplex and the name of the Owner. From each eparate
~ account, the Association, as- Attorney In Fact, shall use and disburse the total amount of each
i of such funds, without contribution from (1)fund to another, ;for .;the ;same purposes ;and in
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6.2 CONDEMNATION.
a. If all or any part` of the Property is taken or threatened to be taken by eminent domain
or by ..power in the nature of eminent domain (whether permanent or temporary), the
Association, as Attorney In Fact, and each Owner hall be entitled to participate in proceedings
incident thereto at their respective expense. The AssoCation shall give timely written notice
of the existence of such proceedings to all Owners and. o all First Mortgagees known to the
Association to have an interest in the Fourp ex Unit. The expense of participation in such
proceedings by the Association= shall be borne by the Common Fund. The Association, as
Attorney In Fact, is pecifically autharized to obtain and pay for such assistance from attorneys,.
appraisers, architects, engineers, expert witnesses and other persons as the Association in its
discretion deems necessary or advisable to aid or advise it in matters relating to such
prQCeedings. A11 damages: or awards shall be applied as provided herein. In the .event that an
a action in eminent domain is brought to condemn a portion of the Common Elements (together
with or a art from an Fourplex Unit}, the Association, as Attorney In Fact, in addition to the
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general powers set out herein, shall have the sole authority to determine whether to defend or
resist any such proceeding, to ::make any settlement with respect thereto, or to convey ouch.
Property to the condemning authority in lieu of such condemnation proceeding..,,.:-
b. with respect to any such taking, all damages or awards shall be determined for the
~ taken of the individual Fou lexes :and for the taken of the Common Elements and for :each
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Owner's .interest therein. After the damages or awards shall be paid to the account of each
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~ Owner for the loss of the individual Unit .plus an amount in proportion to his percentage or
fr ctional ownershi interest in the Common Elements to be a lied. or aid as set forth in
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Subparagraphs..-6.1b (2}(a) through (e) hereof, unless restoration takes place as herein provided.
a The Association, if it deems- advisable, may call a meeting of the Owners, at which: meeting .the
Owners b a ma'orit vote shall decide whether to re lace or restore, as far as ossible, the
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ha Common
..Common Elements so taken or damaged.. In the event... it is determined t t such
{ Elements should be replaced or restored by obtaining other. eland.. or building additional structures,
thi Declaration and: the Ma attached. hereto shall be duly amended by instrument executed by
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the Association, as Attorney In Fact, on behalf of the Owners. -
ARTICLE VII
PROTECTION OF MORTGAGE
71 NOTICE TO ASSOCIATION. An Owner who mortgages his Fourplex shall notify the
Association, giving he name and address... of his Mortgagee. Each Mortgagee shall be permitted.
to notify the Association of -the fact that such Mortgagee holds a deed of trust or mortgage on
a Fourplex Unit. The .Board shall maintain such information in a book entitled "Mortgagees of
. Fourplex Units"
7.2 NOTICE OF DEFAULT; LAPSE IN ..INSURANCE. The Association shall. notify a
First Mortgagee in writing, upon written request of such Mortgagee identifying the name and
address of the Mortgagee of any default by the Mortgagor in the performance.. of such
Mortgagor's obligations, as set forth in this Declaration, which is not cured within sixty.. (60)
days. The Association, upon written request, ...shall- notify a First Mortgagee of any. lapse,
cancellation or material.. modification of any insurance policy or fidelitybond: maintained by the
Association.
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7.3 EXAMINATION OF BOOKS..The Association shall permit First Mortgagees. to
examine the books and records of the As ocation upon request.
7.4 RESERVE FUND. The Association shall.. establish adequate reserve funds for
replacement of Common Element components and fund the same by regular. monthly payments
rather than by extraordinary special assessments'. In addition, there shall be established a
working capital -;fund fore: the initial operation of the Fourplex Project equal to at least two (2)
months' estimated Common Assessments charge for each Fourplex Unit, said deposit o be
collected at closing of Fourplex sale.
7.5 ANNUAL AUDITS...: Upon written request the Association shall furnish each First
Mortgagee an annual audited financial statement of the Association within ninety. (90} days
followin the end of each fiscal ear of the Association.
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7.6 NOTICE OF MEETINGS: The Association shall furnish each First Mortgagee upon
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re uestofsuchMort a~ee rior written notice of all meetin s ofthe Associationand ~'ermit
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thedesgnaton of a representative of such Mortgagee to attend such: meetings, one (1) .such
request to be deemed to be a request for. prior written notice of all subsequent meetings.. of the
Association.
7.7 :NOTICE OF DAMAGE OR DESTRUCTION. The Association shall furnish- the
First Mort a ees timel written notice of an substantial lama a or artial destruction of an
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Unit on which the First Mortgagee holds the mortgagee.: if such loss exceeds One Thousand
Dollars ($1,000:.00} and any part of the Common Elements if such loss exceeds Ten Thousand
Dollars ($10,000.00).
7.8 MANAGEMENT AGREEMENTS. Any management. agreement and/or service
contract entered into by the Association will be terminable by the Association without cause and
without.- payment of a termination fee upon ninety (90} days' or less written notice, and the term
of (such management agreement will :not exceed he ..period of ..three (3) years, renewable by
agreement of the parties to such ,agreement for successive one (l)-year periods . In the event of
the.. termination of the management ,agreement, as provided herein, the:. Association shall:, enter
into a new management agreement with a new management, agent prior to the effective date of
the termination of old management. agreement. Any decision to establish self-,,,management by
the Owners Association shall re wire the rior consent of Owners of Units to which at least
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ix - v r n 7 o f h v ar all n th a r val of first mort a e holders
s t se en a ce t (6 %) o t e o es a ocated a d e o ~ g g
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holding mortgages on Units which have at least fifty-.one percent {51 %) of the .votes of the
Association.
7.9 TAXES, ASSESSMENTS AND CHARGES. All taxes, assessments and charges which
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may become liens prior to the First Mortgage under local law shall relate. only to the individual
Fourplex and not to the Fourplex Project as a whole..
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ARTICLE VIII
MISCELLANEOUS PROVISIONS
8.1 AMENDMENTS TO DECLARATION: APPROVAL OF OWNERS AND
MORTGAGEES.
a. The consent of the Owners of Fourplexes to which at least sixty-seven (67%} of the
votes in the Association ire allocated, the approval of First Mortgagees holding mortgages on
Units which have at least fifty-one percents (51 %} of the. votes of Units subject to mortgages and,
:.upon written, request.., notice.. to all First Mortgagees holding mortgages on Fourplexes shall be
required to add r or amend any material provisions. to his Declaration or to the By-Laws which
' establish rovide for, overn or re late: an of the followin
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(1) Voting;
2 Assessments assessment lens or subordination: of such. liens
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(3} Reserves for maintenance, repair and replacement of the: Common Elements;
(4) Insurance or fidelity bonds;
(5} Rights to use of the Common Areas;
(6) Responsibility for.. maintenance and repair. of the Fourplexes and Common
Elements;
(7) Expansion of the Project;
{8} Boundaries of any Unit, except as provided in Paragraph 2.10 herein;
(9} Ability to convert Fourplexes into Common :Elements, or Common Elements
into Units;:
(10) Leasing of Units;
(11) Imposition of any right of -first refusal or similar restriction on the right of
~'~ a Fourplex Owner to sell, transfer, or otherwise: convey. his Fourplex; or
12 An rovisions which are for the ex Tess benefit of first most a e holders,
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insurers, or guarantors of first mortgages.
b. The consent of Owners. of Fourplex Units to which at least sixty-seven percent (67 %)
of :the votes.. in the Association are..: allocated and the approval of First Mortgagees holding
mortgages on Fourplexes which have at least sixty-seven percent (67 %} of the votes of
Fourplexes subject to Mortgages:, shall be required to:
1 artiton or subdivide an Fo lex. In addition to the a ~ royal of the Owner
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any mortgage ..holder, if any, must be obtained;
(2) by ..act or omission, seek to abandon,:: partition, subdivide, encumber, or
transfer. the Common Elements., other than thee... granting of .easements for public utilities or other
public uses; or
(3) use hazard nsurance .proceeds for losses to any. fourplex property for other.
.than the repair, replacerrient or reconstruction of such property, except as provided by statute.
in the case of substantial loss, and as provided in Paragraph 6.1b(3).
c. Any amendment which would changer the percentage or fraction of interest of the
'~ Fourplex Owners in ther Common Elements, except as provided in Paragraph 2.11 herein, will
require thee. consent of owners of sixty-seven :percent. (67 %) of the votes allocated in the-
Association and the approval of First Mortgagees holding mortgages on Fourplexes which have
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at least fifty-one percent.: (51 %} of the votes of Fourplexes subject.: to mortgages, provided .that
the change of percentage or fraction of ownership must have the approval of each Fourplex
Owner affected by said amendment.
d. Any First Mortgagee who receives a .:written .request to approve additions or
amendments to the Declaration or By-Laws, and Who does not deliver or post to the- requesting
party a negative response within thirty (30} days, shall be -deemed to have.: approved:. such
request.
e. Unless otherwise provided in this Paragraph 8.1 or elsewhere in this Declaration, any
of the provisions herein may be amended by the consent of Owners of Units to which at least
sixty-seven percent (67 %} of. the votes in the Association are allocated, but no .amendment shall
affect the rights given to the Declarant, herein, without the consent of the Declarant.
11 have the continuing.
8.2 CORRECTION 4F ERROR. Declarant reserves, and sha
right, :until the end of the Construction Period, without. the consent of the other Owners or any
Mortgagee to amend this Declaration. or the By-Lawn for the purpose of resolving or clarifying
any ambiguities. or conflicts herein; or correcting any inadvertent misstatements, errors or
omissions herein, ar to comply with the requirements of Federal Home Loan Mortgage
Corporation., Federal National Mortgage Association., Veterans Administration or Federal
Housing Administration.
8.3 OWNERSHIP OF COMMON PERSONAL PROPERTY. Upon termination of the
Construction Period., as defined herein, Declarant shall execute and deliver: a bill of sale to the...
Association: transferring all items of personal property located on the Premises, furnished by
Declarant, and intended for the common use and enjoyment of the Fourplex Unit Owners and
occupants. No Owner shall have any other interest and right thereto, and all such right and
interest: shall absolutely terminate upon he Owner's termination of possession of his Fourplex
Unit.
8.4 CHANGE IN DOCUMENTS. Upon written. request,:.. the holder of any mortgage
~~, covering any of the Fourplex Units:. shall be entitled to written notification from the Association
~~ th 30 da s ror to the effective date of an chan a in the Fou lex documents.
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8.5 NOTICE. All notices, demands or other notices intended to be ..served upon an
Owner shall be sent b ordna or certified mail osta a re aid, addressed in the name of
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such Owner m care of the Fourplex number and Building address of such owner....,, All notices,
demands or other notices intended to be served u on the Board of Directors of the Association
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or the Association, shall be sent by ordinary or certified -mail, postage prepaid, to 204 Suffolk
Avenue, College Station, Texas 77840, until such address is changed by a notice of address
change. duly .recorded in the Brazos County Fourplex Records...
8.6 CONFLICT BETWEEN DECLARATION AND BY-LAWS . Whenever. the
application of the provisions of this Declaration conflict with the; application of any provision
of the By-Laws. adopted by the: Association,.: the provisions or application of this Declaration
shall prevail.
8.7 INVALIDATION 4F PARTS... If any of the provisions of this Declaration or any
paragraph,.. sentence, clause, phrase or word or :.the application thereof in any circumstance be
invalidated, such invalidity shall not affect the validity of the remainder of this Declaration and
the. application of .:any provision, paragraph, sentence, clause, phrase or word in any other
circumstance shall not be affected thereby.
$.8 OMISSIONS. In the event of the omission from .this Declaration of any word,
sentence, ..clause, provision or stipulation. which shall be necessary for the accomplishment of the
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BY-LAWS
OF
SOUTH~OOD OAKS FOURPLEXES ASSOCIATION
ARTICLE I
a
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NAME
1.1 N- The name of the organization shall be SOUTHWOOD OAKS FOURPLEXES
AS50CIATION hereinafter called "Association"
ARTICLE II
PURPOSE AND OWNER OBLIGATION
2. l PURPOSE. The purpQSe for ;which this non-profit Association is :formed is to govern
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the Fou lex Property situated in the bounty of Brazos, _ State - of Texas, which Property is
~~ described on the attached Exhibit "A" which by this reference is made. a part hereof.
2 Z OWNER OBLIGATION. All present or future owners, tenants, future tenants.. or .any
other erson who :.might use the facilities of the Project in any manner,:. are. subject to the
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re ulations set forth in these By-Laws. The mere acquisition or rental of any of .the. Fourplex
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~ Units (hereinafter referred to as "Units") of the Project or the mere act of occupancy: of any of
said Units will signify hat these By-Laws areaaccepted, ratified and will be strictly followed.
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ARTICLE III
DEFINITIONS AND TERMS
3.1 MEMBERSHIP. Any person on becoming an Owner of a Fourplex shall automatically
become a Member of this Association and be subject to these By-Laws. Such membership. shall
terminate without any formal. Association action whenever such person ceases. to own a
Fou. lex. ' Such termination shall:: not relieve or release any such former Owner from any
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'' liabilt or obli anon incurred under or in an wa connected with S:OUTHWOOD OAKS
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FOU:RPLEXES ASSOCIATION Burin the erod of such ownershi and.. membershi in this
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Association, or impair any rights or remedies which the Board of Directors of the. Association
G or others ma have a ainst such former Owner and Member arisen ..out of or in an .way
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connected_ with such ownership and membership and the covenants and obligations incident
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!~ thereto. No certificates of stock shall be issued by the Association, abut the Board of Directors,
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if it so elects, may issue one (1) Membership Card per Fourp ex to the Owner(s) of a Fourplex
Such Membership Card shall be surrendered whenever ownership of the Fourpaex designated
thereon is terminated.
3.2 VOTING.. Fou lex ownershi shall entitle the Owner(s) to cast one (1}vote-per Unit
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in the affairs of the Association; which. vote.. wrap be weighted.. to equal. the proportionate share
of ownership of the Fourplex Owner in the Common Elements.
3.3 MAJORITY OF UNIT OWNERS. As used in: these By-Laws the term "majority of
Unit Owners" shall mean those-Owners with fifty-one percent (51 %) of the votes entitled to be
1 cast. - .
3.4~UORUM. Except as otherwise provided in these By-saws, he presence in person
or by proxy of a "Majority of Fourp ex Owners" as defined in Paragraph 3.3 of this Article shall
constitute a quorum.
35 PROXIES. Votes may be cast in person or by proxy. Proxies must be filed with the
Board of Directors before the .appointed time of each meeting.
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ARTICLE IV
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ADMINISTRATION
4.'1 DECLARANT CONTROL. Not withstanding any provision herein to the contrary, and
accordance with Paragraphs 4.2 and 4.3 of the Fourplex Declaration for.SOUTHw00D OAKS
FOURPLEXES, the Declarant; BRADLEY-PERRY PROPERTIES,.. shall retain control over
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management of the affairs of the Association. This retention of control shall be for the benefit
of the Fourplex Owners and. any First Mortgagees of record and for the purpose of insuring both
a complete and orderly buildout. This control:. shall last until properties are complete and
operational.
42 ASSOCIATION RESPONSIBILITIES. The Owners of the Fourplexes .will constitute
the Association of Fourplex Owners, hereinafter referred to as "Association" , wha will have the
responsibility of administering the Fourplex Project through a Board of Directors.
43 PLACE OF MEETINGS. All annual and special meetings of the As ocation shall be
held at the.. principal office of the Association or at such other suitable and convenient place as
D it ors and des i nated in the
,; may be permitted. by Iaw and from time to time fixed by the ect g
.notices of such meetings.
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4.4 ANNUAL MEETINGS. Annual meetings shall beheld he'last Friday of October, The...
', first (1st) annual meeting shall: be called by Declarant after the end of the Declarant Control
Period.
~ 4.5 SPECIAL MEETINGS. It shall be the duty of he Board of Directors to call a special
meeting of the Owners as directed by resolution of the Board of Directors.. or upon a petition
signed by at least two of the Owners. The notice of any special meeting shall state the time and.
~, place of such meeting and the purpose: hereof. No business -shall be transacted at a special
meeting except as stated in the notice unless by consent of four of the..Owners present, either
in person. or by proxy.
' 416 NOTICE OF MEETINGS. The- Association shall mail notices.. of annual and special.
meetings to each Member of the .Association, directed to his last. known: post office address, as
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shown on the records of the Association, by uncertified mail,: postage prepaid. Such notice shall:
be mailed not less than ten { 10) days nor more than twenty. (20) days before:.. the date of such
meeting and shall state the date, time and place of the meeting and the purpose or purposes
thereof. In lieu of mailing notice as- herein provided, such notice may be delivered by hand or
left. at his residence in his absence. If requested, any Mortgagee of record or its designee may
be entitled to receive similar notice.
4.7' ADJOURNED MEETING. If any meeting of Owners cannot be organized because a
quorum has not attended, the Owners who are present, either in person - or by. proxy, may
ad'ourn the meetin from time to~ time until a uorum is attained:.
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4.8 ORDER OF B[1SINESS. The order of business at all meetings of the Owners of
Fourplexes shall be as follows:..
a
a Roll call
b. Proof of notice of meeting or waiver of notice.
c Reading of minutes of preceding meeting.
de Reports of affairs
e. Unfinished business..
f. New business:.-
ARTICLE V
BOARD OF DIRECTORS
'i 5.1 NUMBER AND UALIFICATION. The affairs of thin Association. shall be
~! governed by a Board of Directors composed initially of two ~2}persons. The following persons
shall act in such capacity and shall :manage the affairs of the Association until. their successors -
are elected, to-wit:
NAME ADDRESS
......Walter L. Bradley 204 Suffolk
College Station, TX 7784Q
Steven W. Bradley 706 A Navarro
' n TX 77845
10
Colle e Stat
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5.2 POWERS AND DUTIES: The hoard of Directors shall have the powers. and
du ies necessary for the administration of the affairs of the Association and for the operation and
maintenance of he Fourplex Project:. The Board of Directors may do all such.. acts and things
that are notby these By=Laws or by the Declaration for SOUTHw00D OAKS FOURPLEXES
ASSOCIATION directed to: exercised and done by the Owners..
5.3 OTHER POWERS AND DUTIES. The Board of Directors shall have the following
duties.
a. To administer and enforce the..covenants, conditions; restrictions, used,
_~ limitations obli ations and all other. revisions set forth in the Declaration.
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b. To establish, make and enforce compliance with rules: necessary for the
orderl o eraton, use and .`occupancy of this Fourplex Project. (A copy of such rules and
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rr regulations shall be delivered or mailed to each Member promptly upon the adoption thereof.)
c. To keep in good order,:.. condition and repair.: all of the General and Limited
~~ Common Elements and all items of ersonal ro ert used. in the en'o meat of .the entire
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~~ Premises.-
r d. To fix determine lev and. collect the monthl rorated assessments to
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be aid b each of the Owners; and b ma'ort vote of the Board to adjust, decrease or increase
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the amount of the monthly assessrn~nts subject`to .provisions of the Declaration; to levy and
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collect special assessments in .order to meet increased operating or ....,maintenance .expenses or
costs,. and additional capital expenses. All monthly or other assessments shall be in itemized
statement :form: and shall set forth in detail the various expenses for which the assessments are
being made.
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e. To collect delinquent assessments by suit or otherwise and to enjoin or
seek damages from an Owner, as provided in the Declaration and these By-Laws.
f. To protect and defend the entire Premises.. from loss and damage by suit
or otherwise.
. To borrow funds in order to pay for any required expenditure or :outlay;
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to execute all such Instruments evidencing such indebtedness which shall be the several
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obligations of all of he Owners in the same proportion as their interest in the Common
~! Elements.
h. To enter .:into contracts within the cope of their duties and power.
~~ i. To establish a bank account for the common treasury for all separate funds
`~ which are re wired or ma be deemed advisable b the Board of Directors.
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p j. To keep and maintain full and accurate :books and records than will be
available to each :Owner u on re west. '
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~ k. To meet at least once each quarter.
~ 1. To designate the personnel necessary for the maintenance .and .operation
of the General and Limited.: Common Elements.
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m. In general, to carry on the administration of this Association and to do all
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of those thin s necessary and reasonable, in order to carry out the communal aspect of Fourplex
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5.4 ELECTION AND TERM OF OFFICE. At the first annual meeting of the
Association the term of office for he three offices of Director will be fixed at three (3) years..
The .persons acting as Directors shall hold office until their successors have been elected. and
hold their first meeting.
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S.S. :VACANCIES. Vacancies. on he Board of Directors caused by any. reason other
than the removal of a Director by a vote of the Association shall be filled by vote of the majority
of the remaining Directors, even: though .they. may constitute less than a quorum. Each Director
so elected shall serve out the remaining .;term of his predecessor.
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ARTICIIE VI
INDEMNIFICATION OF DIRECTORS AND OFFICERS
6.1 INDEMNIFICATION. The Association shall indemnify every Director or officer,
his heirs, executors and administrators, against all loss, cost and expense, including counsel fees,
reasonably incurred by him in connection with any action, suit or proceeding to which he may.
~ be made a party by reason of his being or having- been a Director or officer of the Association,
exce t of a settlement, indemnification shall be provided: only in connection ..with such matters
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in which .the Association is advised by counsel that the person to be indemnified has .not .been
guilty of gross negligence or willful :misconduct in the performance of his duty as such Director
or officer in relation to the matter involved. The foregoing rights shall not be exclusive'of other
ri hts to which such director or officer may be entitled. All liability, loss,. damage, cost and
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ex ense incurred or suffered by the .Association in connection with the :foregoing indemnification.
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rov~ision shall be treated and handled by the Association as Common Expenses; provided,
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however, nothing contained in this Article VI shall be deemed to obligate the Association to
indemnif an Member or Owner of a Fourplex, :who is or has: been a Director or officer of the
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Association, with respect to any duties or obligations assumed.:or liabilities incurred by him
under and b virtue of the Fourplex Declaration for SOUTHWOOD OAKS FOURPLEXES
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ASSOCIATION as a Member or Owner of a Fourplex eovered thereby.
ARTICLE VII -
OBLIGATIONS OF THE OWNERS
7.1 ASSESSMENTS. All Owners shall be obligated to pay the monthly assessments
im osed b the Association. to meet the Common expenses as defined in the Declaration. The
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..assessments shall be made .pro rata according to the proportionate share of ..the Fourplex Owner
in and to the Common Elements and shall be due monthly in advance. A Member .shall be
deemed to be in ood standn and :entitled to vote at any annual or special meeting of Members,
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within the meaning of these By-Laws, only if ~ he is current in the assessments: made or levied
against him and the Fourplex owned by him.
'7.2 GENERAL.
a. Each Owner shall comply strictly with the provisions of _the Fourplex
Declaration for BRADLEY-PERRY PROPERTIES.
b. Each Owner shall always endeavor to observe and promote the cooperative
purposes for :which the Project was built.
7.3 USE OF GENERAL AND LIMITED COMMON. ELEMENTS
Owner may use the General Common Elements and the Limited Common Elements in
accordance with -the purposes -for which they were intended.
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7.4 DESTRUCTION OR OBSOLESCENCE. Each Owner shall, if necessary, execute
a power of attorney in favor of thee. Association, irrevocably appointing the Association ,his
Attorney In Fact to deal with the Owner's Fourplex upon its destruction,.. obsolescence or
condemnation, as is provided in Paragraph 61 of the Fourplex Declaration.
.ARTICLE VIII
AMENDMENTS TO PLAN OF FOURPLEX OWNERSHIP
8.1 BY-LAWS..
a. After :relinquishment of Declarant control of the Association, as set forth
in Article IV, these By-:Laws maybe amended by the Association at a duly constituted meeting
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for such propose, and no amendment shall .take effect unless approved by Owners representing
~~ at least sixt -six and two-thirds ercent {66-213%} of the aggregate interest of .the undivided
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Ownership of the Common .Elements.: except for those amendments provided for in Article; VIII
of the Declaration which shall re wire the l a royal of Owners(and Mort a ees as rovided
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therein. In no event shall the By-Laws. be amended to conflict with the Declaration. In the
f onflict between the two 2 documents the Declaration shall control.
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b. Until relinquishment of Declarant control of the Association, these By
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Laws ma be unilaterall amended b the Declarant to correct an ::clerical or t o ra hical .error
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or omission, or to :change any provision o meet the requirements of Federal Home Loan
Mortgage Corporation, Federal National Mortgage Association, Veterans Administration or
~~~ Federal Housing Administration.
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ARTICLE IX
MORTGAGES
9. l NOTICE TO ASSOCIATION. An Owner who mortgages: his :Fourplex shall
notify he Association through the Directors of the Association giving the name and. address of
the Mortgagee.
9.2 NOTICE OF UNPAID ASSESSMENTS. The Association.. shall,. at the: request
of a Mortgagee of a Fourp ex, report any unpaid assessments due from the Owner•.. of such
Fo
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~' ARTICLE X
I, NON-PROFIT ASSOCIATION
:10.1 NON-PROFIT PURPOSE. This As ociation is not or anized for rofit. No
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Fourplex Owner, Member of the Board of Directors or person from the operation thereof,: and
' in no event shall any part of the funds or assets of the Association be paid as a salary or as
compensation to, or distributed to or insure to the benefit of any Member: of the.. Board of
'' Directors• rovided however, alwa s that reasonable com ensation ma be aid to any Member
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'~ while acting as an agent or employee of the'Association for services rendered in effecting one
or more of he purposes of the Association and that any Member of the Board of Directors may,
from ime to time,. be reimbursed. for his actual and reasonable expenses incurred in connection:
~~ with the administration of affairs of .the Association.