CONDOMINIUM
DECLARATION
FOR
RANCH
MEADOW CONDOMINIUMS
Richard H. Wille Trust, hereinafter referred to as Declarant,
being the owner of the real property situate in the County of Larimer,
State of Colorado, described as follows:
All of Ranch Meadow Subdivision,
except
Lots 1, 2, 3, 7 and 16,
Town of
Estes Park, Colorado;
desires to establish a condominium project pursuant to the provisions of
the Colorado "Condominium Ownership Act"”, and the
"Colorado Common Interest Ownership Act".
Declarant does hereby establish a plan for the ownership in fee
simple of condominium real property estates, subject to this Declaration
and the Condominium maps, consisting of the area of space contained in
each of the units shown on the Condominium maps, together with the
co-ownership by the unit owners as tenants-in-common, of all of the
remaining property which is hereinafter defined and referred to as the
general and limited common elements.
Such plan is hereby declared to be for the benefit of the
property and the owners thereof, their heirs, devisees, grantees,
successors and assigns.
Therefore, Declarant does hereby publish and declare that the
following terms, covenants, conditions, easements, restrictions, uses,
reservations, limitations and obligations shall be deemed to run with
the above-described land, and shall be a burden and a benefit to
Declarant, its grantees, successors and assigns, and any person or
entity acquiring or owning an interest in a condominium unit, their
heirs, devisees, grantees, successors and assigns.
The name of the condominium property and project shall be Ranch
Meadow Condominiums.
1. Definitions
All applicable portions of definitions as contained in the
Colorado "Condominium ownership Act" and the "Colorado
Common Interest Ownership Act" shall apply to this Declaration and
the property herein, except as particularly modified or changed by
individual definitions hereinafter set forth.
B. "Condominium
unit ownership" means the fee simple interest and title in and to a
unit together with the undivided interest in the general and limited
common elements appurtenant thereto.
C. "Owner"
means a person, persons, corporation,
partnership, or other legal entity, or any combination thereof, who or
which owns an interest in a unit.
D. "Condominium
Map" or "Map" means the survey of the condominium project
land, depicting the boundaries thereof; and other matters as hereinafter
set forth. "Supplemental
Map" shall refer to the supplemental maps filed as the development
phases are completed.
E. "General
Common Elements" (indicated GCE on the Condominium Map) means the
real property above described; the structural components of the
buildings and units; and all other parts and improvements of and on said
property including the air space above said property, except those air
spaces identified on the Condominium Maps as units, and except any
portions of the property designated as Limited Common Elements on the
Maps, and as hereinafter provided.
F. "Limited
Common Elements" (indicated LCE on the Condominium Maps) means
those parts of the common element which are limited to and reserved for
the exclusive use of a unit owner, as more specifically hereinafter
provided.
G. "Ownership
Interest in Common Elements" shall mean an equal undivided interest
in the common elements.
H. "Declaration"
means this Declaration.
I. "Declarant"
means Richard H. Wille Trust.
J. "Common
expenses" shall include expenses herein declared to be common
expenses; and other expenses determined to be common expenses by the
Association.
K. "Corporation",
"Association", or "Condominium Association" means
Ranch Meadow Condominium Association, Inc., a Colorado Nonprofit
Corporation, which shall govern the administration, use and maintenance
of the common elements.
L. "Mortgagee"
shall mean and include the holder of a mortgage or the holder of a deed
of trust, as legally recognized as a real property security interest
pursuant to the laws of the State of Colorado.
M. "Board of
Directors" or "Directors" means the Board of Directors of
Ranch Meadow Condominium Association, Inc., a Colorado nonprofit
corporation.
N. "Bylaws"
means the Bylaws of Ranch Meadow Condominium Association, Inc.
0. "Rules &
Regulations" means those rules and regulations adopted from time to
time by the Board of Directors of the Corporation.
P. "Single-family
residential use"; "Residential use"; and
"Single-family occupancy" mean use and occupancy for dwelling
purposes for one family.
2.
Condominium Estates
A. The real property herein described and the improvements
thereon are hereby designated as fee simple condominium estates.
Each estate shall consist of the separately designated unit
together with a one - one hundred sixth undivided interest in and to the
common elements, as reflected upon Exhibit A hereto.
Provided, however, the foregoing notwithstanding, the development
will be in phases and the Declarant shall have the right to construct a
lesser number of phases, buildings and units then is, reflected upon
Exhibit A, or a greater number, as set forth in Section 32 hereof.
In either of such events, the undivided interest shall then be
determined by a fraction the numerator of which would be one and the
denominator of which would be the total number of units.
Likewise, the undivided interest shall also change as the phases
develop.
B. Each unit and the
undivided interest in the common elements shall be inseparable and may
be conveyed, leased, rented, willed, transferred, or encumbered only as
a condominium unit.
C. All owners of the
condominium units shall be members of the Association, which membership
shall be appurtenant to and may not be separated from ownership of any
unit. The Association shall
have one class of voting membership.
Provided, however, there shall be only one vote per unit in
Association membership matters.
3.
General Common Elements
The general common elements shall be owned as tenants-in-common
by the unit owners. None of
the general common elements may be changed to limited common elements,
without a prior unanimous vote of the voting members of the Association,
in which event the vote shall be whether or not to adopt a specific plan
to allocate any or all of the general common elements to limited common
elements. None of the
general common elements may be conveyed to any person or entity other
than to all of the condominium unit owners.
General common elements shall be identified as such on the
Condominium Map as “GCE”. Provided,
however, in any event, all roofing; exterior siding and exterior trim;
all open space (unless designated “LCE” on the Map or Supplemental
Maps); exterior paint, the building structure including roof decking;
and the private street known as "Raven Court", shall be deemed
general common elements whether or not so depicted on the Maps.
4.
Limited Common Elements
Limited common elements shall be identified as such on the
Condominium Maps as "LCE".
Unless a common element is so designated as limited, all common
elements shall be general common elements.
Provided, however in any event, all decks, patios, balconies,
driveways serving a specific unit, utilities within each unit, all
utility service lines serving a unit, hot water heaters, furnaces,
appliances, unit windows and doors, unit floors and subfloors, interior
partition walls, insulation, and all interior sheetrock and wall
coverings, shall be deemed limited common elements.
Limited common elements shall be used exclusively by the owner of
the unit to which they apply and are appurtenant, except by invitation
of such unit owner. None of
the limited common elements may be changed to general common elements
without a prior unanimous vote of the voting members of the Association,
in which event the vote shall be whether or not to adopt a specific plan
to allocate any or all of the limited common elements to general common
elements.
5.
Condominium Map and Declaration
An initial Condominium Map, together with Supplemental Maps for
the units subsequently constructed, shall be filed for record in the
Larimer County real estate records, locating the site of the units or
unit, designating the units by letter, the buildings by number, and
designating the dimensions of each unit both horizontally and
vertically. In addition,
all such maps shall contain the name of the condominium project, and the
initial map shall include a general schematic of the entire condominium
project, together with the location and dimension of any real estate
which will not be subject to development rights, such as "outlots",
and together with the location and dimensions of any existing
improvements upon the real property.
The initial Map shall also contain a description or clear
delineation of any of the real property subject to future development
rights, labeled to identify the rights.
All maps shall show the extent of any encroachments across any
common element; a description of all easements serving or burdening any
portion of the common elements; and the distance between any
noncontiguous parcels of real property comprising the common elements.
All maps shall contain the certificate of a Colorado registered
land surveyor, including that it was made under the surveyor's
supervision and was prepared subsequent to substantial completion of the
improvements shown thereon. The
certificate on the initial Map shall also state that it does depict a
boundary survey of the condominium property.
Any supplements or amendments to either the Condominium Map or to
this Condominium Declaration shall be filed for record and make
reference to the filing information on the initial Map and declaration
and to any previous amendments or supplements thereto.
6.
Condominium Units
A. A condominium
unit shall consist of one individual air space contained within a
building as shown on the Map. Attached
garages shall be part of the units.
All units shall have access to a public street.
B. Every contract,
deed, lease, deed of trust, will or other instrument shall describe a
condominium unit by its letter, and its building number, followed by the
name of the condominium declaration and amendments thereto and the
Condominium Map and any Supplemental Maps, together with the filing
information therefor. Every
such description shall be good and sufficient for all purposes to sell,
convey, transfer, lease, encumber, devise or otherwise affect not only
the unit, but also the appurtenant undivided interest in the common
elements.
7.
Form of Ownership - Title
A condominium unit may be held and owned in any real property
tenancy recognized under the laws of the State of Colorado.
8.
Inseparability of a Condominium Unit
Each unit, and the undivided interest in the common elements,
shall together comprise one condominium unit; shall be inseparable; and
may be sold, conveyed, leased, rented, devised, transferred or
encumbered only as one condominium unit.
9.
Non-Partitionability
The common elements shall remain undivided, and no owner nor the
Association may bring any action for partition or division of the common
elements. The Association
and owners of a unit shall not, by act or omission, seek to abandon,
lease, sell or transfer the common elements.
(However, the granting of easements for public utilities or for
other public purposes by the Association consistent with the intended
use of the common elements shall not be deemed a transfer within the
meaning of this section.) A
unit owner shall not, through a partition suit or otherwise, divide or
partition a unit or the ownership thereof, without the unanimous consent
of the membership (one vote per unit).
10.
Taxation
Each unit shall be subject to separate real property assessment
and taxation. All taxes and
assessments for a unit which are not paid and become a lien shall become
a lien only against the individual unit for which the delinquency
exists, and not against the condominium project as a whole or against
any other unit.
11.
General Easements
There
is hereby created an easement upon, across, over and
under
the above described property for installation, replacement, repair and
maintenance of all utilities serving any or all of the condominium units
or any portion of the common elements; and for maintenance and repair of
any of the common elements. This
easement is reserved unto the Corporation in, on and over each
condominium unit and all common elements to permit the Corporation or
its duly authorized agent to effect any desired or necessary
installation, replacement, repair or maintenance of any utilities and
common element. Such
easement shall not be considered or determined to be an encumbrance
either on the common elements or on the units, for purposes of
marketability of title or otherwise.
12. Use
of General Common Elements
Each unit owner may use the general common elements in common
with other unit owners. The
Association Board of Directors may adopt rules and regulations governing
the use of general common elements, provided such rules and regulations
shall be uniform and nondiscriminatory.
13.
Number of Units and Buildings
The total number of units shall be 106, and the total number of
buildings shall be 33 subject to the provisions of Sections 2 & 32
hereof.
14.
Easements for Encroachments
Easements for any encroachments which may exist after the
construction of a unit exist as follows:
(1) In favor of all
unit owners so that they shall have no legal liability when any part of
the common elements encroaches or shall encroach upon a condominium
unit; and
(2) In favor of all
unit owners so that they shall have no legal liability when any part of
their unit encroaches or shall hereafter encroach upon the common
elements; and
(3) In favor of all unit owners and the Association for the
maintenance and repair of any such encroachments.
This easement shall also exist in the event of any encroachment
resulting from the rebuilding of any unit or common element subsequent
to a casualty loss. This
easement and any such encroachments shall not be considered to be
encumbrances either on the common elements or on any unit.
15.
Preparation of Budget
A. The fiscal year
for the Association shall be the calendar year.
Each year on or before June 1, the Board of Directors shall adopt
an advanced budget for the Association, containing an estimate of the
total amount which the Board considers necessary to fulfill its duties
and responsibilities for the ensuing fiscal year, together with such
reasonable amounts as the Board considers necessary to provide for an
operating reserve fund for said ensuing year and for a reserve fund for
maintenance of the general common elements.
The Board shall send a copy of said budget to at least one owner
of each unit, together with the assessment statement for that unit,
within thirty days subsequent to the adoption thereof.
The Board shall also include in this mailing a date for a
membership meeting for the purpose of budget ratification, which date
shall be not less than fourteen nor more than sixty days subsequent to
the date of mailing. Unless
at the meeting a majority of the units (one vote per unit) reject the
budget, the budget shall be deemed ratified, whether or not a quorum was
present at that meeting. In
the event that the proposed budget is rejected, the budget last ratified
shall continue until such time as a new budget is ratified.
Said budget shall constitute the basis for determining each unit
owner's contribution for common expenses.
B. In the event of
any delay in the preparation or ratification of such annual budget for
any year, the same shall not constitute a waiver or release in any
manner of a unit owner's obligation to pay his assessed share of the
common expenses, and in the meantime each owner shall continue to pay
the assessments for common expenses based upon the last ratified budget
until the new budget is ratified.
C. All sums
collected by the Board of Directors with respect to assessments against
the unit owners may be commingled into a single fund.
No interest must necessarily accrue on such account or fund.
D. The Board of
Directors shall take prompt action to collect any assessments for common
expenses due from any unit owners which remain unpaid for more than
thirty days from the due date thereof.
16.
Common Expenses and Assessments
A. Common expenses
shall include the following: repair, replacement and maintenance of the
general common elements; cost of insurance as herein provided; water;
sewer; snow removal from and maintenance of the private street
("Raven Court") within the condominium project as shown on the
Condominium Map; landscaping; of the open space which is general common
element and maintenance thereof; and electricity for any condominium
development name sign and any other electricity used for a common
element; maintenance of any condominium project identification sign;
drainage facilities; and together with other expenses determined to be
common expenses by the Association membership.
Unit owners shall be obligated to pay their assessments imposed
by the Board of Directors to meet common expenses.
The Association shall be responsible and liable to the Town of
Estes Park for all water charges, whether or not the Association has
collected all assessments for each unit.
Assessments for common expenses may not be uniform for all units,
as determined by the Board of Directors, so long as such determination
is non-discriminatory and is based only upon actual expense differences,
such as maintenance and water utility expenses.
Otherwise, unless determined by the membership (one vote per
unit) to the contrary, all assessments shall be divided equally per
unit. Assessments shall be
payable quarterly or in installments as determined by the Board of
Directors, rather than by special assessment.
B. In the event the
ownership of a condominium unit commences on a day other than the first
day of the assessment period, the assessment for that period shall be
prorated.
C. Assessments shall
be based upon the annual advance budget.
D. Owners and
mortgagees shall have the right to examine the books and records of the
Association at all reasonable business hours, upon reasonable advance
notice.
E. Upon the sale of
a unit, the previous owner and the new owner shall be jointly and
severally liable for the payment of any unpaid assessment for common
expenses. Upon the sale of
a unit, all then unpaid assessments for common expenses shall be paid
out of the sale price or by the purchaser in preference over any other
assessments or charges of whatever nature except for past due real
property taxes and except for payments due under any recorded deed of
trust.
F. Upon written
request for statement of account by an owner or by a lienholder, the
Board of Directors or the officer designated thereby shall furnish a
written statement of the amount of any unpaid assessments, the amount of
the current assessment, and the dates that assessments are due, with
regard to that unit. A
reasonable service fee as established by the Board of Directors may be
charged for the furnishing of said statement.
The Board may request a copy of the lien prior to furnishing a
statement to a lienholder. In
any event, no director or officer shall be liable to any owner or to
anyone for so furnishing said statement.
G. In the event of
default in the payment of any assessment, unit owners shall be obligated
to pay interest at the rate of 15% per annum on the amount of the
delinquent assessment from after ten days subsequent to the due date
thereof, together with all expenses, including reasonable attorney fees,
incurred by the Board in the collection of the same; and together with a
5% penalty for late (past said ten days) payment of each assessment.
Suit to recover a money judgment for unpaid assessments may be
maintained by the Association through the Board without foreclosing any
assessment lien as hereinafter provided, and any such suit shall not be
a waiver of said lien. For
the purpose of any such suit to recover a money judgment, all unit
owners are subject to the venue and jurisdiction of the courts in and
for the County of Larimer, State of Colorado.
17.
Management
The Association Board of Directors shall conduct the day to day
management for the Association, and shall have all of the powers,
authority and duties permitted pursuant to the Colorado Condominium
ownership Act and the Colorado Common Interest Ownership Act necessary
to manage the business affairs of the condominium project.
The Board shall have the right to contract for the maintenance of
the general common elements. Any
contract providing for management services shall not exceed three years,
and shall provide that it can be terminated by either party without
cause and without payment of a termination fee on ninety days or less
written notice. Matters
requiring a vote of either the Board or the Association membership shall
be by simple majority vote unless a greater vote is required herein, by
law or by the Association Bylaws. Each
unit shall have one vote on all Association membership matters.
18.
Maintenance Responsibilities
Maintenance and repair of all general common elements shall be by
and at the expense of the Association unless damage is caused thereto by
a unit owner, their family, guests or tenants and the damage is not
covered by the Association's insurance.
Limited common elements will be maintained and repaired by the
unit owner to which the limited common elements are appurtenant, unless
damage is caused thereto by the Association (except that the Association
shall paint all exterior surfaces).
No owner shall remodel or make any alteration that will be
visible from outside the unit without first having the written approval
of the Board of Directors of the Association.
A unit owner shall be responsible for keeping the limited common
elements appurtenant to his unit clean, and for snow removal therefrom.
There shall be an obligation to replace exterior materials with
similar types or kinds of material, and using the same colors.
A unit owner shall do no act nor work that will impair the
structural soundness or integrity of a unit or a building.
If a unit owner fails to maintain the limited common elements
appurtenant to his unit or to keep the same clean, after fifteen days
advance written notice of its intent so to do, the Association may do so
and assess the expense therefor against the unit owner.
Any such unpaid assessment may become a lien and be collected as
provided herein regarding common expense assessments.
19.
Termination of Mechanic Lien Rights and Indemnification
No labor performed or materials or services furnished to a unit
with or without the consent of a unit owner, by his agent, a contractor
or a subcontractor shall be the basis for filing of any lien against the
common elements (except that unit's undivided interest therein), or
against the unit of any other unit owner who did not expressly consent
to or request the labor, services or materials.
Each owner shall indemnify and hold harmless, including
reasonable attorney fees, the Association, the other units and other
owners from and against all liability arising from any such claim or
lien against his unit.
20.
Compliance with
Provisions of Declaration and Corporation Documents Mandatory.
Each owner shall comply with the provisions of the Declaration,
the Maps, the Articles of Incorporation and Bylaws of the Association,
and any Rules & Regulations adopted by the Board of Directors.
Failure to comply with any of the same shall be grounds for an
action to recover sums due for damages or injunctive relief, or both,
and for reimbursement of all reasonable attorney fees incurred in
connection therewith, which action shall be maintainable by the
Association through the Board or by an aggrieved owner.
By purchasing a unit all owners subject themselves to the venue
and jurisdiction of the courts in and for the County of Larimer, State
of Colorado, for such purpose.
21.
Insurance
A. The Board of
Directors of the Association shall obtain and maintain at all times,
with the Association as the insured, to the extent obtainable, policies
written through companies licensed to do business in Colorado covering
the risks set forth below. The
Board of Directors shall not obtain any policy under which loss payments
are contingent upon action by the company's directors, policy holders or
members or where the policy includes any limiting clauses (other than
insurance conditions) which would prevent mortgagees or a mortgagor from
collecting insurance proceeds:
(1) "All
risk" insurance coverage insuring all buildings and common
elements. The Board shall
obtain a single master policy covering physical damage for the entirety
of said property. The Board
shall review its insurance at least once a year; shall be responsible
for notifying the carrier of any new units and buildings; may obtain an
appraisal to use in determining coverage amounts, as an Association
expense; and shall attempt to obtain full replacement cost coverage
without co-insurance or depreciation deductions.
(2) Each unit owner
shall be responsible for carrying his own contents casualty insurance.
In addition, if a unit owner makes improvements to his unit, he
shall be responsible for increasing his own, individual casualty
insurance coverage.
(3) Public liability
and property damage insurance coverage in such amounts as the Board of
Directors determines, but not in an amount less than $1,000,000.00.
Each unit owner shall be responsible for carrying his own
premises liability insurance.
(4) Workmans
Compensation insurance for any employee of the Corporation as required
by the laws of the State of Colorado.
(5) Fidelity bond or
insurance coverage for the Treasurer in an amount of no less than one
and one-half times the average amount of Association funds handled by
the Treasurer.
(6) Officers and
directors liability insurance coverage in an amount no less than
$1,000,000.00 for the Association officers and directors.
(7) Such other
insurance as the Board may determine.
B. In addition, the
Board shall make an effort to secure policies for its casualty and its
public liability/property damage insurance coverages, that provide the
following:
(1) No deductibles
exceeding $1,000. (The Association shall pay the deductible amount
unless the event insured and to which the deductible applied was caused
by a unit owner or owners, in which case said owner or owners shall pay
the deductible amount.)
(2) That the master
policy on the property cannot be cancelled, invalidated, or suspended on
account of the conduct of any member of the Board of Directors,
Association officer or employee or the managing agent, without a prior
demand in writing that the Board of Directors cure the conduct;
(3) That any "no other insurance" clause contained in
the master policy shall expressly exclude individual unit owners’
policies from its operation;
(4) That until the expiration of ten days after the insuror gives
notice in writing to the mortgagee of any unit, the mortgagee's
insurance coverage will not be affected or jeopardized by any act or
conduct of any unit owner, or Association director, officer, or agent or
employee.
(5) That the master policy may not be cancelled or substantially
modified without at least ten days' prior written notice to the Board of
Directors and all mortgagees of units;
(6) That the master
policy contain a mortgagee clause in favor of each mortgagee of a unit
to the extent of the portion of the coverage of the master policy
allocated to such unit, which shall provide that the loss, if any,
thereunder shall be payable to such mortgagee and the unit owner as
their interests may appear, subject, however, to the loss payment and
adjustment provisions in favor of the Board of Directors and/or any
Insurance Trustee as herein provided.
C. The Board of
Directors shall have the right to serve as Insurance Trustee or to
designate any bank or insurance company as the Insurance Trustee, and
all parties beneficially interested in such insurance coverage shall be
bound thereby. The
Insurance Trustee at the time of the deposit of such policies and
endorsements shall acknowledge that the policies and any proceeds
thereof will be held in accordance with the terms of the Bylaws and
Condominium Declaration. If
the Board appoints a bank or insurance company as Insurance Trustee, the
Insurance Trustee shall not be liable for payment of premiums, the
renewal of the policies, the sufficiency of coverage, the form or
contents of the policies, the correctness of any amounts received by it
on account of the proceeds of any insurance policies, nor for the
failure to collect any insurance proceeds.
The duty of the Insurance Trustee shall be to receive such
proceeds as are paid to it and to hold the same in trust for the
purposes stated herein or in the Association Bylaws, for the benefit of
the unit owners of the units involved and their respective mortgagees.
D. The Board of
Directors is hereby irrevocably appointed the agent for each unit owner
and for each mortgagee of a unit to oversee adjustment of all claims
arising under insurance policies purchased by the Board of Directors and
to execute and deliver releases upon the payment of claims.
E. Premiums upon all
Association insurance policies purchased by the Board of Directors shall
be deemed to be a common expense.
22.
Corporation - Attorney-in-Fact - Destruction - Obsolescence.
This Declaration does hereby make mandatory the irrevocable
appointment of an attorney-in-fact to deal with the property upon its
damage, destruction or obsolescence.
Title to any condominium 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
such appointment. All of
the owners irrevocably constitute and appoint the Association Board of
Directors, their true and lawful attorney-in-fact in their name, place
and stead for the purpose of dealing with their property upon its
damage, destruction or obsolescence as is hereinafter provided.
As attorney-in-fact, the Association Board shall have full and
complete authority, right and power to make, execute, deliver and
perform any contract with respect to the interest of a condominium unit
owner which may be necessary and appropriate to exercise the powers
herein granted. Repair and
reconstruction of the improvements as used herein means restoring the
improvements to substantially the same condition in which they existed
prior to the damage, with each unit and the common elements having
substantially the same dimensions and boundaries as before.
The proceeds of any insurance shall be available to the
Association Board for the purpose or repair or replacement as
hereinafter provided.
A. In the event of
damage or destruction due to fire or other casualty, the insurance
proceeds shall be applied by the Association Board, as attorney-in-fact,
to such repair or replacement which shall be promptly accomplished.
The Association Board shall have full authority, right and power,
as attorney-in-fact to cause the repair or replacement should the unit
owner thereof fail to make provision for so doing within forty-five days
subsequent to the damage occurring.
B. Otherwise, such
damage or destruction shall be promptly repaired or replaced by the
Association Board, as attorney-in-fact, using the proceeds of insurance.
The deficiency assessment, if any, shall be an expense assessed
only to the unit owner in destroyed or damaged units in the proportion
of the uninsured damage. No
such owner shall have any right of contribution, or other claim relating
to such damage or destruction, against the Association or Board.
Such deficiency assessment shall be in an amount determined
exclusively and finally by the Association Board (after consulting with
such owners, appraisers, and others as it deems appropriate) and shall
be due and payable within sixty days after written demand.
The Association shall have full authority, right and power, as
attorney-in-fact, to cause the repair or replacement 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 the debt of the
affected owner as aforesaid, a lien on his condominium unit and may be
enforced and collected as is provided in Section 23 hereof.
In addition thereto the Association Board, as attorney–in-fact,
shall have the absolute authority, right and power to sell the
condominium unit of any owner refusing or failing to pay such deficiency
assessment within the time provided, and if not so paid the Association
shall cause to be recorded in the County records a notice that such
condominium unit shall be sold by the Association through the Board as
attorney-in-fact under the provisions hereof.
The proceeds derived from the sale of such condominium unit shall
be used and disbursed by the Association Board as attorney-in-fact in
the following order:
(1) For payment of
the reasonable expenses of sale including reasonable attorney fees.
(2) For payment of
or against the balance of any lien of any first mortgage or first deed
of trust.
(3) For payment of
or against any taxes and any special assessments in favor of any taxing
entity.
(4) For payment of
any unpaid condominium common expenses.
(5) For payment of
or against the balance of any junior liens and encumbrances in the order
of their priority.
(6) For
reimbursement to the Association of any deficiency of the insurance
proceeds to cover repair or reconstruction of the unit.
(7) The balance
remaining, if any, shall be paid to the condominium unit owner.
C. The owners
representing an ownership interest of 100% of the units (one vote per
unit) may agree that the condominium units, or some portion of the
project, is obsolete and may adopt a plan for the renewal and/or
reconstruction thereof. If
a plan for
such
renewal or reconstruction is adopted, the expense of the renewal and
reconstruction shall be payable by owners in the manner and proportion
as set forth in the plan.
D. The power of
attorney hereinabove referred to shall also apply to the Association's
right to maintain and repair and improve all of the buildings and
general common elements.
23.
Corporation Lien for
Nonpayment of Common Expense Assessments.
A. All sums assessed
but unpaid for the share of common expenses chargeable to any
condominium unit shall constitute a lien on such unit superior to all
other liens and encumbrances, except general county real estate taxes
and county special assessment liens against a unit, and a first deed of
trust or mortgage on a unit recorded prior to the date on which the
common expense assessment sought to be enforced became delinquent.
Prior to the recording of any assessment lien, the Board of
Directors shall give written notice to the holder of any first deed of
trust or first mortgage that such a lien is about to be filed; the
amount of the unpaid assessment or assessments and accrued interest
thereon to date, with a per diem; and that said holder has thirty days
subsequent to the date of the mailing of that notice within which to pay
said assessment, if it so elects. To
evidence such lien, the Board of Directors shall prepare a written
notice of lien in the name of the Association, dated and setting forth
the amount of such unpaid indebtedness and the period involved, a
description of the condominium unit, and the names of the unit owners.
Such notice of lien shall be signed by one of the Board of
Directors or by a designated officer on behalf of the Corporation, and
shall be recorded in the Larimer County records with a copy thereof
mailed to that unit owner at that time.
Such lien shall attach and be effective from the due date of the
assessment until all sums, with interest and other charges thereon as
herein provided shall have been fully paid.
The Association shall be entitled to add interest, at the rate of
15% per annum from after ten days subsequent to the due date of the
assessment, and reasonable costs and attorney fees incurred in
preparing, giving notice and filing the lien.
Upon payment the Association shall record a release of the lien.
B. Such lien may be
enforced by the foreclosure of the defaulting owner's condominium unit
by the Association in like manner as a mortgage on real property is
foreclosed pursuant to Colorado law.
In any such foreclosure proceeding, the owner shall be required
to pay the costs, expenses and reasonable attorney fees incurred as a
result thereof. The
Association shall be entitled to any rents for the unit being
foreclosed, during the foreclosure period.
The Association shall have the power to bid on the unit at the
foreclosure sale.
C. Except as
otherwise provided in this subsection, upon foreclosure of a deed of
trust or mortgage or by any person or entity holding a recorded, valid
lien on a condominium unit, the holder of the lien shall be required to
pay any unpaid common expenses payable with respect to such unit, and
upon such payment such holder shall also have an assessment lien on such
unit for the amount paid of the same rank as the Association had.
However, should the holder of a first mortgage or first deed of
trust lien gain title to a unit through foreclosure or through a deed in
lieu of foreclosure, such lienholder shall not be required to pay any
assessments on the involved unit which accrued prior to the taking of
title by such lienholder, and in any event, the holder of a first
mortgage or first deed of trust shall in no event be liable for more
than six months of delinquent assessments.
D. As provided in
Section 16 hereof, the foregoing shall not prevent the Association Board
from bringing an action on account owing in any court of competent
jurisdiction.
24.
Owners' Personal obligation For Payment of Assessments.
The amount of the common expenses assessed against each
condominium unit shall be the personal and individual debt of the owner
thereof. No owner may
exempt himself from liability for his contribution towards the common
expenses by waiver of the use or enjoyment of any of the common elements
or by abandonment of his unit, or by agreement with other unit owners.
In the event of default in the payment of the assessment, if the
same is not cured within ten days after the due date thereof, a unit
owner shall be obligated to pay interest at the rate of 15% per annum on
the amount of the delinquent assessment from due date thereof until
paid, together with all expenses, including reasonable attorney fees,
incurred in the collection of the same.
25.
Mortgaging a Condominium unit - Priority.
Any owner shall have the right from time to time to mortgage or
encumber his unit by deed of trust, mortgage or other security interest
recognized by Colorado law. A
first mortgage or deed of trust shall be one which has first and
paramount priority over other liens pursuant to Colorado law.
The owner of a condominium unit may create junior mortgages on
the following conditions:
(1) that any such junior mortgages shall always be subordinate to common
expense assessments and to all terms and conditions of this Declaration
and of the Association Bylaws; and (2) that the mortgagee under any
junior mortgage shall release, for the purpose of repair or replacement
of any improvements upon the mortgaged premises, all of its right, title
and interest in and to the proceeds under all insurance policies upon
said premises, which insurance coverages were placed upon the mortgaged
premises by the Association. Except
to the extent provided in Section 23 hereof, such release shall be
furnished forthwith by a junior mortgagee upon written request of the
Association Board, and if not granted, may be executed by the
Association Board as attorney-in-fact for such junior mortgagee.
26. Declaration
of Protective Covenants, Conditions and Restrictions.
The following covenants, conditions and restrictions upon use and
occupancy and against and upon each unit and the common elements are
hereby created and established. These
covenants, conditions and restrictions may be enforced by the
Association, through its Board of Directors, or by any unit owner or
owners, in any court of competent jurisdiction.
A. The condominium
units are restricted to single-family residential dwelling and occupancy
and use only. Any rental or
lease period or term shall be for a period of no less than six months.
All lease and rental agreements shall be in writing and subject
to the reasonable requirements of the Board of Directors.
B. No animals,
livestock or poultry of any kind shall be raised, bred, or kept on or in
the common elements or any unit, except two household pets per unit;
provided, however, such household pets shall not be raised, bred, or
kept for any commercial purposes, and shall be kept within the unit or
on a leash when outside the unit.
C. No trash or
rubbish shall be stored on the outside of any unit.
No incinerator or tanks shall be kept upon or beneath any of the
condominium property. No
equipment or machinery shall be permitted on the condominium property
unless kept within a unit.
D. No
trailer (of any type, including camper, horse or utility), camper-shell,
boat, motorhome, or any type of recreational vehicle, shall be kept by
any unit owner upon any of the condominium property unless the same is
kept in an enclosed garage. No
recreational vehicle, tent, trailer or any other structure except the
condominium unit shall be used as a residence.
No more than the following number of motor vehicles of any type
shall be kept per unit upon any of the condominium property: Two, if the
unit is a one-garage unit, and three, if the unit is a two-garage unit.
No non-operating motor vehicle or non-operating recreational
vehicle whatsoever shall be kept on any of the property.
No unlicensed or inoperative motor vehicle shall be permitted to
remain upon the condominium property, unless the same is kept within an
enclosed garage.
E. No
antenna or satellite dishes of any nature whatsoever shall be placed or
kept upon the exterior of any unit or building, unless it and the
screening from view thereof are first approved by the Association Board
of Directors.
F. Garages may not
be converted into living areas; and garages shall be kept available for
the parking of at least one vehicle, at all times.
G. No unit owner
shall permit any use of his unit or make use of the common elements
which will increase the cost of or invalidate the Association's
insurance upon the condominium property.
H. Owners
shall keep their thermostats set no lower than 50 degrees, so that water
lines will not freeze, when leaving their units unoccupied.
I. Offensive or loud
noises and uses considered to be a nuisance shall not be permitted
within any unit or upon the condominium property, and for the purpose of
this restriction a noise or use shall be considered offensive and a
nuisance if it is so determined by a majority of the unit owners.
This restriction shall also apply to the use of motor bikes and
motorcycles and similar vehicles. Use
of "ham" radios or similar types of trans-missions which
interfere with normal radio and television signals within the
condominium development shall be prohibited.
J. No
signs shall be located upon any of the condominium property with the
exception of one professionally made sign, approved by the Board of
Directors in advance, identifying the occupants and the address of a
unit; and one sign advertising the property for sale or rent by the
owners or by a realtor, so long as any such for sale or for rent sign
does not exceed four square feet in size and is not more than four feet
higher than the grade at the point of its location.
All such signs shall be attached to the residential dwelling.
Nothing herein contained shall prevent the Association from
erecting a condominium development identification sign on the
condominium property.
K. No
fence or barrier of any kind shall be constructed upon the condominium
property, without the prior approval of the Board of Directors.
In no event shall any chainlink, wire or metal fences be allowed.
L. No exterior
lighting, including methods of illumination and type and design of light
poles or standards, shall be permitted unless approved, in advance, by
the Board of Directors, except low illumination porch and doorlights.
Special season lights and decorations shall be removed within
thirty days subsequent to the holidays.
M. No vehicle,
trailer or boat, of any type shall be parked in a condominium
development or public street, except for construction vehicles while a
condominium unit or condominium building is being constructed.
N. No
playhouses, playgrounds or greenhouses shall be constructed or placed
upon any of the condominium property.
0. All
window coverings shall be a white or off-white color, as viewed from the
exterior of the unit.
27.
Membership.
Every person or entity who is a record owner of a fee or
undivided fee interest in any unit shall be a member of the Corporation,
and there shall be only one class of membership.
Such membership shall be mandatory upon unit owners, and shall be
automatic upon the purchase of a unit.
Membership shall be appurtenant to and may not be separated from
ownership of any unit. When
more than one person or entity holds an ownership interest in any one
unit, all such persons shall be members; provided, however, the vote for
such unit shall be exercised as said owners themselves determine, but in
no event shall more than one vote be cast per unit.
28.
Personal Property for Common Use.
The Association (by vote of the membership) may acquire and hold
and transfer for the benefit of the condominium owners, tangible
personal property (as general common element) and the interest in any
such property shall be owned by the condominium owners in the same
proportion as their respective interest in the common elements.
A conveyance of a condominium unit shall transfer to the grantee
ownership of the grantor's interest in such personal property without
any reference thereto or execution of a bill of sale.
Each owner may use such personal property in accordance with the
purpose for which it is intended, without hindering or encroaching upon
the lawful rights of the other owners.
The Association Board may adopt reasonable rules and regulations
pertaining to the use thereof, so long as the same are
non-discriminatory.
29.
Registration by Owner of Mailing Address.
A. Each owner shall
register his mailing address with the Association Board, and all notices
or demands intended to be delivered to an owner shall be sent by regular
mail, postage prepaid, addressed in the name of the owner at such
mailing address.
B. All notices or
demands intended to be served upon the Association shall be sent by
certified mail, postage prepaid, to the registered agent of the
Association, pursuant to the records of the Secretary of State of
Colorado, and to the Association President or Secretary at the address
on the Association records.
30.
Acceptance of Provisions of all Documents.
The acceptance of a conveyance or encumbrance of or against a
condominium unit shall be deemed to include the acceptance of all of the
provisions of this Declaration, and the Association Articles of
Incorporation, Bylaws and duly adopted Rules & Regulations, and
shall be binding upon each grantee or lienholder without the necessity
of inclusion of such an express provision in the instrument of
conveyance or encumbrance.
31.
Regulations of the Town of Estes Park, Colorado.
In the event that the Association shall fail to maintain the
private street within the condominium development, (Raven Court) or the
drainage detention pond (including the inlets and outlets to and from
the pond, all drainage swales, within the condominium development, in a
reasonable condition, the Town of Estes Park may serve written notice
upon the Association setting forth the manner in which the Association
has failed so to do. Said
notice will include a demand that such deficiencies be cured within a
reasonable time and shall state the date and place of a hearing thereon
before the Town Board of Trustees within a certain time.
At the hearing, the Town may modify the terms of its original
notice, and may grant an extension of time within which the deficiencies
may be cured. If the
deficiencies set forth in the original notice or in the modifications
thereof are not cured within thirty days or any extension thereof, the
Town, in order to preserve the taxable values of the property contained
within the condominium project and to prevent the street and drainage
facilities from becoming a public nuisance and public liability, may
undertake to maintain the same for a period of one year.
Before the expiration of said year, the Town, upon its initiative
or upon the written request of the Association, may call a public
hearing upon notice to the Association and to the residents of the
condominium units, to be held by the Town Board of Trustees, at which
hearing the Association or the residents shall show cause why such
maintenance by the Town shall not, at the election of the Town, continue
for a succeeding year. If
the Town Board of Trustees shall determine that such Association is
ready and able to maintain said street and drainage facilities in a
reasonable condition, the Town shall cease to maintain said street and
drainage facilities at the end of said year.
If the Town Board of Trustees shall determine that the
Association is not ready and able to maintain said street and drainage
facilities in a reasonable condition, the Town may, in its discretion,
continue to maintain said street and drainage facilities during the next
succeeding year subject to a similar hearing and determination in each
year thereafter. The cost
of such maintenance by the Town, including reasonable administrative
costs and attorney fees, shall be paid by the Association, and any
unpaid assessments shall become a tax lien upon all of the units.
The Town shall file a notice of such lien in the office of the
County Clerk and Recorder upon the property affected by such lien within
the condominium project, and shall certify such unpaid assessments to
the County treasurer for collection, enforcement and remittance in the
manner provided by law for the collection, enforcement and remittance of
general property taxes. The
Association shall provide for adequate funding and means of enforcement
of such funding for the purpose of maintenance of said street and
drainage facilities; cause to be made periodic safety inspections and
follow-up maintenance of said street and drainage facilities; receive
and process complaints as to the condition of such street and drainage
facilities; and provide a regular maintenance program therefor.
These maintenance provisions shall not expire without the prior
permission of the Town Board of Trustees.
32.
Phase I; Future Development Rights; and Other Special Declarant
Rights.
This will be a phased project.
Phase I is hereby declared, which will consist of Building 1,
Units A, B, C, D and E, on Lot 22 of the Subdivision.
The Declarant reserves the following development rights and other
special declarant rights until the date upon which the condominium
project is fully developed or until seven years subsequent to the date
of the recording of this Declaration in the Larimer County records,
whichever date first occurs:
A. The right to
complete this condominium project, in the area indicated on the
Condominium map, not to exceed a maximum of 33 phases; 33 buildings; and
106 units; provided, however, the foregoing notwithstanding, should the
Declarant determine to include, within the above set forth time period,
Lots 1, 2, 3, 7 or 16 of this subdivision in this condominium
development, then the phases and units would be increased as follows:
Lot 1 - by 36 units and not more than 9 phases; Lots 2 and 3 - by 9
units each and not more than 2
phaes each; Lot 7 - by 2 units and 1 phase; and Lot 16 - by 12
units and not more than 3 phases. Provided,
however, Declarant may also develop less phases, buildings and units.
The Declarant may, acting alone for either purpose, sign and
record amendments to this Declaration, including Exhibits
A, and supplemental Condominium Maps for the purpose of depicting
either additional or less phases. Furthermore,
except as shown on the initial Condominium Map, the undeveloped portion
of the land within the project will not be part of the general common
elements except as additional phases are developed, and then as shown on
supplemental Condominium maps; provided, however, general common
elements will be expanded and not diminished as the project is developed
and completed. These
development rights may be exercised with respect to different
subdivision lots at different times, and no assurances are made by
Declarant regarding the order in which the phases may be developed.
B. The right to
maintain a sales office, a management office and a maximum of 3 models,
in a unit or units, anywhere within the condominium project, for the
above set forth period of time. Any
such sales and/or management office shall be shown on the Map.
Models need not be shown on the Map.
C. The right to
maintain signs on the general common elements to advertise condominium
units for sale.
D. The right to use,
and to permit others to use, easements through the common elements as
may reasonably necessary for the purpose of discharging Declarant's
obligations and as may be reasonably necessary for the purpose of
completing the project as herein provided.
The Declarant shall initially have one hundred-six votes in all
Association membership matters, which will diminish as the Declarant
sells the units. Provided,
however, the foregoing notwithstanding, the Declarant will not retain a
majority vote in Association membership matters after sixty days
subsequent to the conveyance of 75% of the units that may be created;
two years after the last conveyance of a unit by the Declarant; or two
years after any right to add new units was last exercised; whichever
first occurs. The Declarant
may voluntarily surrender the right to appoint and remove officers and
members of the Association Board of Directors before termination of its
control. In that event, the
Declarant may require, for the duration of the period which it would
have had control, that specified actions of the Association or Board of
Directors, be approved by the Declarant before they become effective.
Not later than sixty days subsequent to the conveyance by
Declarant of a unit to a third party, an owner of that unit shall become
a member of the Association Board of Directors, and this process shall
continue until the Board of Directors has the number of members as set
forth in the Association Bylaws.
33.
Recorded Easements and Licenses.
The easements which affect the condominium property are shown on
the Condominium Map. There
are no licenses.
34.
General Provisions.
A. The thirty foot
wide area, shown on the Condominium map, between subdivision lots 26
& 30, 27 & 28, shall remain unobstructed, including no trees or
bushes, for emergency vehicle access.
B. If any of the
provisions of this Declaration in any circumstance are invalidated by a
Court of competent jurisdiction, such invalidity shall not affect the
validity of the remainder of this Declaration.
C. Whenever used
herein, unless the context shall otherwise provide, the singular number
shall include the plural, the plural the singular, and the use of any
gender shall include all genders.
D. Section and
paragraph titles are for convenience of reference and are not intended
to limit, enlarge or change the meaning of the contents thereof.
R. No waiver of a
breach of any of the terms of this Declaration shall be construed to be
a waiver of any other breach of the same or other terms hereof by the
same or different party.
F. Should any of the
condominium property be condemned by a property authority, any proceeds
therefrom pertaining to any specific unit shall be first applied to the
balance owing under a first deed of trust or first mortgage note against
such unit.
35.
Revocation of or Amendment to
Declaration.
This Declaration (and the Map), as amended or supplemented, shall
not be revoked unless all of the voting Association members and all of
the holders or any recorded first deeds of trust or first mortgages
affecting any of the units consent in writing to such revocation, which
instrument shall be duly recorded in the Larimer County real estate
records. Except as set
forth in Section 32 hereof, this Declaration may be amended
only in writing, which written amendment must include the signatures of
all of the owners of at least sixty-seven percent of the units then
completed and for which a Map or Supplemental Map has been recorded,
together with the signatures of all holders of any recorded first deed
of trust or first mortgage which is on a unit the owners of which signed
such amendment.
Richard H. Wille Trust
By: Richard H. Wille Trustee
Trustee
STATE
OF COLORADO)
) ss
COUNTY OF LARIMER)
The foregoing instrument was acknowledged and sworn to before
me this 27th day
of May
, 1997, by Richard Wille, as
Trustee, of the Richard H. Wille Trust.
Witness my hand and official seal.
My commission expires: 8-12-2000
Anna Marie
Edwards
Notary Public
EXHIBIT
A
Ranch
Meadow Condominiums
Building
1
Interest in Common Elements
Membership Votes
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Unit C
Undivided 1/106th
1
Unit D
Undivided 1/106th
1
Building 2
Unit F Undivided
1/106th 1
Unit G
Undivided 1/106th 1
Unit H
Undivided 1/106th 1
Unit I
Undivided 1/106th 1
Building
3
Unit A Undivided
1/106th 1
Unit B
Undivided 1/106th 1
Building 4
Unit A Undivided
1/106th 1
Unit B
Undivided 1/106th 1
Building
5
Unit A Undivided
1/106th 1
Unit B
Undivided 1/106th 1
Building
6
Unit A Undivided
1/106th 1
Unit B
Undivided 1/106th 1
Building
7
Unit A Undivided
1/106th 1
Unit B
Undivided 1/106th 1
Building
8
Unit A Undivided
1/106th 1
Unit B
Undivided 1/106th 1
Building
9
Unit A Undivided
1/106th 1
Unit B
Undivided 1/106th 1
Unit C
Undivided 1/106th
1
Unit D
Undivided 1/106th
1
Unit E
Undivided 1/106th
1
Building
10
Unit F Undivided
1/106th
1
Unit G
Undivided 1/106th
1
Unit H
Undivided 1/106th
1
Unit I
Undivided 1/106th
1
Building
11
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Unit C
Undivided 1/106th
1
Unit D
Undivided 1/106th
1
Unit E
Undivided 1/106th
1
Building
12
Unit F Undivided
1/106th
1
Unit G
Undivided 1/106th
1
Unit H
Undivided 1/106th
1
Unit I
Undivided 1/106th
1
Building
13
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Unit C
Undivided 1/106th
1
Unit D
Undivided 1/106th
1
Unit E
Undivided 1/106th
1
Unit F
Undivided 1/106th
1
Building
14
Unit G Undivided
1/106th
1
Unit H
Undivided 1/106th
1
Unit I
Undivided 1/106th
1
Building
15
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Unit C
Undivided 1/106th
1
Unit D
Undivided 1/106th
1
Building
16
Unit E Undivided
1/106th
1
Unit F
Undivided 1/106th
1
Unit G
Undivided 1/106th
1
Unit H
Undivided 1/106th
1
Unit I
Undivided 1/106th
1
Building
17
Unit F Undivided
1/106th
1
Unit G
Undivided 1/106th
1
Unit H
Undivided 1/106th
1
Unit I
Undivided 1/106th
1
Building
18
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Unit C
Undivided 1/106th
1
Unit D
Undivided 1/106th
1
Unit E
Undivided 1/106th
1
Building
19
Unit A Undivided
1/106th
1
Unit B Undivided
1/106th
1
Unit C Undivided
1/106th
1
Unit D Undivided
1/106th
1
Building
20
Unit E Undivided
1/106th
1
Unit F
Undivided 1/106th
1
Unit G
Undivided 1/106th
1
Unit H
Undivided 1/106th
1
Unit I
Undivided 1/106th
1
Building
21
Unit D Undivided
1/106th
1
Unit E
Undivided 1/106th
1
Unit F
Undivided 1/106th
1
Unit G
Undivided 1/106th
1
Unit H
Undivided 1/106th
1
Unit I
Undivided 1/106th
1
Building
22
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
unit C
Undivided 1/106th
1
Building
23
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
24
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
25
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
26
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
27
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
28
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
29
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
30
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
31
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
32
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
Building
33
Unit A Undivided
1/106th
1
Unit B
Undivided 1/106th
1
|
Do you know the difference between Declaration (Covenants), Bylaws, Rules
& Regulations and the restrictions for amending each document?