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HomeMy WebLinkAboutRestrictive Covenants of BrookshireRESOLUTION TO AMEND THE RESTRICTIVE COVENANTS OF BROOKSHIRE After surveying the owners and residents attending the annual meeting of the Brookshire Homeowners’ Association on March 27, 2022, the Board of the Brookshire Homeowners’ Association proposes and recommends that the owners approve an amendment to the Restrictive Covenants of Brookshire (the “Amendment”) for our community. The purpose of this amendment is to address the concerns of many owners regarding the potential for increased numbers of distant corporate or investment ownership and rental properties in our community. Specifically, we are concerned that the market could change over time, thereby leading to an increased number of distant corporate and/or investor-owned properties, which may in turn have a negative impact on property values and the community as a whole. In order to protect the investment we have all made in our properties, it is the desire of the Board of the Brookshire Homeowners’ Association that Brookshire remain primarily an owner-occupied community. The current restrictive covenants contain no restrictions regulating distant corporate or investment ownership or limiting rentals in our community. In order to regulate and restrict the leasing of homes in Brookshire, the Board of Directors proposes adding new restrictions. Owners who have leases in place as of the date on which this amendment (if approved) is recorded would be grandfathered until they sell their units. For these restrictions to be approved, pursuant to the current restrictive covenants the owners representing a simple majority of the total owners in Brookshire must approve the amendments. Specifically, the Board now proposes adoption of the following amendment: Except as set forth in this paragraph, residents of a building can only consist of the lot owner and those who live with the lot owner. If the lot owner does not reside on the property, residents of a building must be members of the lot owners immediate family (i.e., parents, children, spouse, significant other/life partner). Any lot owned by a corporate entity (including, but not limited to, a partnership, corporation, limited liability company, etc.) shall submit to the Brookshire Homeowners’ Association a certificate of designated representative indicating who is authorized to vote on behalf of the corporate entity and who is authorized to reside in the structure, which must be the same person. For a period of three (3) years after an owner’s acquisition of a lot (the “Waiting Period”), the owner cannot lease or rent the building. Upon written request and the showing of an undue hardship (e.g., a temporary employment relocation, disability, death, etc.), the Waiting Period may be waived by the Brookshire Homeowners’ Association at its sole discretion, which decision shall be final and binding. Such waiver shall last no more than one (1) year and may be renewed by the Brookshire Homeowners’ Association upon further request without limitation. All leases shall be in writing, be for the entire building, identify the tenant and lease term, and be made expressly subject and subordinate to the restrictive covenants of Brookshire, with a copy of the lease provided to the Brookshire Homeowners’ Association prior to occupancy. Notwithstanding any lease language, the Lot owner shall remain responsible for full compliance of the restrictive covenants of Brookshire. These residency and lease restrictions shall not apply to any residency or lease situations in effect as of the date of recording. These restrictions may be enforced by the Brookshire Homeowners’ Association at law or equity. WRITTEN BALLOT BROOKSHIRE OWNERS MUST BE RETURNED BY SEPTEMBER 30, 2022 The owners of lots in Brookshire are asked to vote on an amendment to the Amended and Restated Restrictive Covenants of Brookshire, with a full copy of the proposed amendment provided herein. Pursuant to Indiana Code § 23-17-10-8, this action is being taken in the form of written ballots which are being submitted to all owners in Brookshire. All owners have the opportunity to vote for or against the amendment. This action, through written ballots, is in lieu of conducting a special meeting of the Brookshire Homeowners’ Association. The Board of the Brookshire Homeowners’ Association requests that all written ballots be returned no later than September 30, 2022. For this procedure to be valid, the owners representing a majority of the ownership in the community must vote in favor or against the amendment. Thus, by September 30, 2022, if the Brookshire Homeowners’ Association receives signed ballots signifying that that the owners representing the majority of the ownership interest in the community approve of the amendment, it will be approved and adopted. However, if the Brookshire Homeowners’ Association does not receive this many ballots voting in favor of the Amendments by that date, the proposal will fail. Each lot has one vote. A signature by fewer than all deeded owners of a lot is verification that the signer has authority and permission to bind other deeded owners to that particular lot. Conflicting votes by co-owners will have the effect of invalidating the vote entirely. **Once you return your Ballot to the Association, it cannot be revoked. I, the undersigned owner and/or voting representative of the below property, hereby vote(s): _________ IN FAVOR of the proposed amendment _________ AGAINST the proposed amendment ____________________________ ____________________________ Deeded Owner Signature Brookshire Address ____________________________ Printed ____________________________ Additional Deeded Owner Signature ____________________________ Printed Return this ballot using the enclosed, self-addressed envelope addressed to Jim Dawson, 12012 Brookshire Parkway, Carmel, IN 46033. You may also hand deliver it to a member of the Board of the Brookshire Homeowners’ Association or email it to jradawson@hotmail.com. Ballots received after September 30, 2022 will not be counted.