HomeMy WebLinkAboutCovenants & Restrictions
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DECLARATION OF COVENANTS AND RESTRICTIONS
OF
HAYDEN RUN
PROPERTY OWNERSHIP
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TABLE OF CONTENTS
Page
1. Definitions................................................. 2
2. Declaration........... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
3. Description of Section 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 6
4 . Description of Hayden Run . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
---..----s-:-~ounaari-es---~.--:_.:-~.,-:..--:-....:...'_:'-~--~-=-~--~---~-_:_:.-:......,.--...-.._:_=_.,--.~--...,--..,..--....- ....... _._'--:.._.~ .,..~._."'~.._~,....~._..~--'-'_._--'~-_..._._.,_...:-".'h-"--'-"'-'
6 .. Common Area .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 6
7. Landscape Maintenance Access Easement...................... 7
8 . Ownership of Common Area . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
9. Delegation of.Use of the Common Area. . , . . . ... . . . . . . . '0 . .. . . 8
10. Easements in Common Area. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . 8
11. Corporation; Membership; Voting; Functions........... ......8
{a} Membership in Corporation............................. 8
(b) Voting Rights.. . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . 8
(c) Functions........ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 .
12. Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
(a)
(b)
.( c)
... (d).
(e)
(f)
(g)
(h)
(i)
(j)
(k)
(1)
Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
"Initial Board of .Directors .. . . . ...... . . . ...... . . . ..... .... 10
Additional Qualifications. . . . . ; .:. .. ...; ; ~.... . . . ~.; .. . ;10
Term .of Offi~~ and v~cancy..:~.. .:...... .:.:....~.~ .~.:lb
Removal of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Duties of the Board of Directors.. ...................11
Powers of the Board of Directors..................... 13
Limitation on Board Action........................... 14
Compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Non-Liability of Directors.. . . . . . . . . . . . . . . . ... . . . . . . . . 15
Additional Indemnity of Directors........ ............15
Bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
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13. Initial Management.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
14. Real Estate Taxes........... . . . . . '. . . . . . . . . . . . . . . . . '. . . . .' . . . 16
15. Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
16. Maintenance, Repairs and Replacements......... ............17
17. Architectural Control..................................... 18
(a) The Architectural Review Board................... ....18
(b) Purposes... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
( c ) Condi t ions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
(d) Procedures...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
18. Assessments............................................... 19
(a) Annual Accounting............ . . . . . . . . . . . . . . . . . . . . . . . . 19
(b) proposed Annual Budget............................... 19
(c) Regular Assessments ..... ...... .... ........... ........20
Cd). Special Assessments. . . .. . . . . . . . . . . . . . . . . . . . . . . ~ .. . .. . 22
(e) Additional Assessments.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
(f) Regular Assessments Prior to the Applicable Date. ....24
(g) Failure of Owner to Pay Assessments ......... .........25
(h) Subordination of Assessment Lien to Mortgage.. ... ....26
(i) Default.............................................. 27
19. Mortgages and Unpaid Assessments.. ..... ... ......... .......26
(a) Notice to Corporation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
(b) Notice of Unpaid Assessments......................... 27
(c) Right of Mortgagee to Pay Real Estate Taxes or
Insurance Premiums................................... 27
. 20 ..Insurance..'. . ........~ ..... ... ...... .:.. ..... ~....... '.. .'. ... .... .'28
(a) Casualty Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
(b) Public Liability Insurance... . . . . . . . . . . . . . . . . . . . . . . . . 28
(c) Other Insurance...... . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
(d) General Provisions................................... 29
21. Casualty and Restoration of Common Area and Limited
Common Area . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
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22. Covenants and Restrictions. . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . 30
23. Expanding the Real Es.tate That is Subject to .
the Declaration. . . . . . . . . . . . .. . .. . . . . . . . . . . . . . . . . . . . . . . , . . . 35
24. Amendment of Declaration.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
(a) Generally. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
(b) Amendments by Declarant Only.. ......... ... ........ ...36
____~~__~UI?~ppr()~a.l ..... '_~'___'-_:-=-"""" .............. '~_~_'__~_~~___
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26. Negligence................................................ 39
27. Costs and Attorneys' Fees................................. 39
28. Waiver............. '. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . 39
29. Severability Clause. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
30. Pronouns . . . . . . . . . . . .. . ; .. . . . . . . . . . . . . .. . ... . . . . .. . . .. . . . . . . . . 3 9
31. Interpretation............................................ 39
32. The Plat . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
33. Annexation. ..........................................;.... 41
34. Collector Road System...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
35. Future Construction of Recreational Facilities. .... .......41
Exhibit "A"
Exhibit "E"
Exhibit "C"
Real Estate
Section 1
Fence
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DECLARATION OF COVENANTS ~ RESTRICTIONS OF
HAYDEN RUN PROPERTY OWNERSHIP
THIS DECLARATION made this ___day of , 2002, by
CENTEX HOMES,a Nevada general partnership ("Declarant").
WITNESSETH:
WHEREAS, the following facts are true:
A. Declarant is the sole owner in fee simple title to
certain real estate located in Hamil ton County, Indiana,
more particularly described in the attached Exhibit A,
which is incorporated herein by reference (hereinafter
referred to as the "Real Estate") .
B. Declarant is the sole owner of the fee simple title
~o that portion of the Real Estate more particularly
described in. EXhibit B attached hereto and made a part
hereof (hereinafter referred to as the "Tract" or "Section
1") .
C. Declarant may from time to time subject part of the
Expansion Real Estate and other additional real estate
located adj acent to the Real Estate to the provisions of
this Declaration. As used herein, Real Estate, shall
include subject to the provisions of this Declaration.
D. Declarant by execution of this Declaration assures
that all properties which are conveyed which are a part of
the~.. Tract....shall be conveyed .. subject totheterrns. and.
conditions of this Dec.laration,whichshallrun.with. the
Tract and be biriding' upon all.parties'havitig' anY' . right ,
title or interest in the Tract, or any part thereof, . their
heirs, successors and assigns, and shall inure to the
benefit of each Owner.
NOW, THEREFORE, Declarant hereby makes this Declaration
as follows:
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1. Definitions. The following terms as used in this
Declaration, unless the context clearly requires otherwise,
shall mean the following:
Ca) "Applicable
determined pursuant to
Declaration.
Date" means
Paragraph 11
the
of
date
this
(b) UArticles" or "Articles of
Incorporation" means the Articles of Incorporation
of the Corporation, as hereinafter defined. The
- -- ----- ---. Articles.of-- Incorporation--are--Tn-corporat-edEereIri
__~Y_!~.;_~:t:'~?~~'__.u__u_
(c) "Board of Directors" means the governing
body of the Corporation elected by the Members in
accordance-with--the Bylaws-of__the Corporation.
(d) "Bylaws" shall mean the Bylaws of the
Corporation and shall provide for the election of
directors and officers and other governing
officials of the Corporation.
( e)
designated
Hayden Run.
"Common
as such
Area"
upon the
means the
recorded
ground
Plat of
(f) uCommon Expense" means expenses for
administration of the Corporation, expenses for
the upkeep, maintenance, repair and replacement of
the Common Area and Landscape Improvements and all
sums lawfully assessed against the Members of the
Corporation.
(g) -"Corporation" _-means . Hayden Run
Homeowners Associatibn, - - Inc. 1 its - successors and
assigns, - 'a'ri6t:"'fOr-pr6fitcorporation, who'se
Members shall be the Owners of Lots, or appointees
as provided in Paragraph 11 of this Declaration;
such Corporation being more particularly described
in Paragraph 11 of this Declaration.
(h) "Declarant" shall mean and refer to
Cent ex Homes, a Nevada general partnership 1 and
any successors and assigns of it whom it
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designates in one or more written recorded
instruments, to have the rights of Declarant
hereunder including, but not limited to, any
mortgagee acquiring title to any portion of the
Tract pursuant to the exercise of rights under, . or
foreclosure of, a mortgage executed by Declarant.
(i) "Dwelling Unit" means one of the living
units located upon a Lot.
____n_ __ (j)_ ___\~l:I~yg~~_Ku~'~ __rn~?I.!s._t:h~__r:l~:rn5L.gy___w_bJQh_ t.bEL__
Real Estate, which is the subj ectof this
____}?~_s:_l ~r~~ :i:.9_~.I_.f?h~~_Lp~_~.I].g.~~______.___ ._______________ _._ _____ _____...
(k) "Landscape Maintenance Access Easement"
. shall mean and refer to those areas identified in any
..-. reGorded-Pla t -to-- be-burdened---by- .. .such---eas ement-. ---The...
landscaping located within the Landscape Maintenance
Access Easement shall be maintained by the Corporation
andtheCorpo:ration shall have. aneasemeht-.of ingress
and egress on and over the areas adj acent thereto for
the purpose of this maintenance obligation; The.
landscaping and other improvements planted or installed
by the Declarant and/or the Corporation within the
Landscape Maintenance Access Easement may not be
removed by any Owner, nor may any Owner add any
landscaping or improvements to such easement area
without the prior approval of the Architectural Review
Board.
(1) "Lot" means any plot of ground designated as
such upon the recorded Plat of Hayden Run and upon
which one (1) Dwelling Unit is constructed, may be
constructed or exists thereon. When Lot is used it
~hall be deemed .to. include the . Dwelling Unit.,.if '.any, .
lccat"ed thereon. ".' . . ". .
(m) "Member" means a member of the Corporation.
(n) "Mortgagee" means the holder of a first
mortgage lien on a Lot.
(0) "Owner" means
partnership, association,
a person, firm, corporation,
trust or other legal entity,
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or any combination thereof, who owns the fee simple
title to a Lot.
(p) ~Plat" means the survey of Section 1 and the
Lots, Common Areas, and easements located thereon,
prepared by Stoeppelwerth & Associates Engineering;
Inc. , certified by Dennis D. Olmstead, a registered
land surveyor, under date of , 2002, recorded as
Instrument No. in the Office of the
Recorder of Hamilton County, Indiana, and incorporated
herein by reference and any additional plat that may be
----n1ed--;-upon -suoject ing-a:ddl t r6n.aT--prope-rfy-c6--t:his-------~------------
_ __ _ ________ _Declaration.__ ________________ M______________ __ ___ _______
(q) "Sign Landscape Easement" means those areas
identified in any recorded Plat to be burdened by such
easement. Each such area shall contain signage for the
Hayden Run together with any landscaping associated
with such signage in such area and any entrance walls
or improvements constructed in such easement. The
signage, entrance walls and improvements and
landscaping located within the- easement shall be
maintained by the Corporation and the Corporation shall.
------ha:v:e-an-ease~ent-6f-ingress-and-egress--on--and-oY..er_...the_ ___ ~_
areas adj acent thereto for the purpose of this
maintenance obligation. The signage, entrance walls
and improvements and landscaping installed by the
Declarant and/or the Corporation within the Sign
Landscape Easement may not be removed by any Owner, nor
may any Owner add any improvements to such area without
the prior written approval of the Architectural Review
Board.
(r) "Tract" means the real estate described in
Paragraph -.B . _of the.. recitals-above-. and such -.-other .
. portions of the.- Real. Estate, arid other. property which
have, as of any-given t:.ime'~ been .-subjected Eo.this.
Declaration, either by this Declaration or a
Supplemental Declaration as herein provided.
(s) "Utility, Drainage and Sewer Easements" means
the areas of ground on the Plat marked Drainage,
Utility and Sanitary Sewer Easement; Drainage, Utility
and Sewer Easement; and Drainage and Utility Easement.
The Utility, Drainage and Sewer Easements are hereby
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created and reserved for the use of all public utility
companies (not including transportation companies),
governmental agencies and the Corporation for access to
and. installation, maintenance, repair or removal of
poles, mains, . ducts, drains, lines, . wires, cables and
other equipment and facilities for the furnishing of
utility services, including cable television services.
The Utility, Drainage and Sewer Easements are hereby
created and reserved for (i) the use of Declarant for
access to and construction, maintenance, operation,
repair and control of any retention and detention ponds
----------anduJ:mpj:ovements- comprisTng-and/or-rela ted --to-thestorm----
'water.drainage__:system,__.e ither_b~__sur_face_drainage___or
app-r-eEH='-ia t c 'l:1:fl:Ei~~-r-ffi;i-oo--i-n-s-e-a-l-l-a-ti0fts,-f-o-r-ehe--Rea-1
Estate and adjoining property and (ii) the use of the
Corporation and the Hamilton County Drainage Board for
access to and maintenance, repair and replacement of
such drainage system. The Owner of any Lot subject to
a Utility, Drainage and Sewer Easement shall be
required to keep the Easement area on his Lot free from
obstructions so that the storm water drainage will be
unimpeded and will. not. be changed or : altered without.
all necessary permitS(whether-16cal~state or federal)
and-pr.ior--w-:r:i-tten-app:r;ov:a-l--o-f---t-he--DeG:la:r;antT------The----- -----
Utility, Drainage & Sewer Easements are hereby created
and reserved for Declarant, the Hamilton County Highway
Department, the Hamilton County Drainage Board, the
Clay Township Regional Waste District, the City of
Carmel and such other municipal bodies, agencies and
entities as necessary. The delineation of the Utility,
Drainage and Sewer Easement areas on the Plat shall not
be deemed a limitation on the rights of any entity for
whose use any such easement is created and reserved to
go on any portion of any Lot subject to such easement
t.emporarilytotheextent reasonably neqes~ary . for the
.exercise.of. the. rights granted. to it. .by this Paragraph.
" E:xceptas.iris"talled by Declarant or 'by third parties a.s."
provided above, no structures or improvements,
including without limitation decks, patios, fences,
walkways or landscaping, shall be erected or maintained
upon said Utility, Drainage and Sewer Easements.
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2. Declaration. Declarant hereby expressly declares
that the Tract shall be held, conveyed and transferred in
accordance with the provisions of this Declaration.
3. Description of.Section 1~ Section 1 consists of 22
Lots numbered 1-22, inclusive, together with the Common
Area and all Easements as designated on the Plat. The
Common Area, Easements and the size of the Lots are as
designated on the Plat.
4. Description of Hayden Run. Hayden Run consists of
seventy (70) Lots numbered 1 through 70 inclusive, together
with the Common Area and Easements as designated on the
Plat. The Common Area, Easements and the size of the Lots
are as designated on the Plat. The legal description for
each Lot in Hayden Run shall be as follows:
Lot __in Hayden Run, a subdivision in Hamilton County,
Indiana as per plat thereof recorded as
Instrument Number , in the Office of the Recorder of
Hamilton County, Indiana.
5. Lot Boundaries and Access . The boundaries of each
Lot in Hayden Run shall be as shown on the Plat. All Lots
shall be accessed only from the interior streets of the
Tract.
6. Common Area. Common Area includes all the area
designated as such on any recorded Plat of Hayden Run,
including, but not limited to, the lakes, ponds, drainage
areas and recreational areas (including walking paths or
trails), if any, but excluding all Lots and Easements.
Declarant has the right, but not the obligation, to
. construct recreational facilities ..in .:any .of ..the Common
. Area, and if. such facilities are. constructed, such
tacili ties shalibe part. of the :Coinrricm . Ai-ea. ...
7 . Landscape Maintenance Access Easement. Declarant
hereby declares, creates, grants and reserves the Landscape
Maintenance Access Easement as shown on the Plat as a non-
exclusive easement for the use of the Declarant and the
Corporation for installation, maintenance and removal of
trees, shrubbery, flowers and other plantings, entryway
signage, walls and other improvements and additional
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similar landscape improvements (all of which items, as
existing from time to time, shall constitute "Landscape
Improvements") . Except as installed by the Declarant or
the Corporation, and except for any ,utility facilities or
drainage facilities which maybe installed in any easement
that may now or hereafter be declared, granted or reserved
in or upon any portion of the Real Estate and designated on
the Plat as a Landscape Maintenance Access Easement, no
structures, fences or other improvements shall be installed
or maintained in or upon any Landscape Maintenance Access
Easements. Notwithstanding the foregoing provisions of
this Paragraph and the provisions of any Plat or other
recorded instrument executed by Declarant designating a
Landscape Maintenance Access Easement, a Landscape
Maintenance Access Easement shall automatically terminate
as to that portion of such easement area that is located
within or upon any public right-of-way hereafter dedicated
to the public upon the recording of a Plat or - other
instrument creating such public right-of-way.
8 . Ownership of Common Area. The Commori Area shall
be conveyed to or owned by the Corporation, and shall be
held for the use and enjoyment of the Members, all of whom
shall have the right and easement of enj oyment in and to
the Common Area which right shall pass with title to every
Lot, subject to the provisions of this Declaration,
including but not limited to, the following:
(a) The right of the Corporation, upon
approval by a written instrument signed by
two-thirds of all Class A Members, two-thirds of
all Class B Members and by two-thirds of all first
mortgagees, to dedicate or transfer all or any
part of the Common Area to any public agency,
,authority or, utility. for, such Common Area purposes ,
and' . subject to such conqitibns as may' be, agreed' by
'the 'CorpOration.' ",
(b) The right of the Corporation to adopt
such rules and regulations regarding the Common
Area as it deems necessary as provided in
Paragraph 12.
( c ) The
conveyed to
Common Area
or owned by
in Hayden Run shall
the Corporation on
be
the
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Applicable Date or earlier, free and clear of all liens
and encumbrances except for platted or recorded
easements and real estate taxes not yet due and
payable; provided, however, that the conveyance of the
Common Area to - the Corporation shall not prevent
Declarant from improving the Common Area as Declarant
deems appropriate (including, but not limited to
construction of lakes and recreational facilities,
including any recreational or similar facilities which
are solely for the benefit of a particular section of
Hayden Run) at any time prior to the Applicable Date.
..----...---
--9-:--Dcd-e-gat:torr-or-Use of-Elre-Commo?_A:rea._____~y__~~tru5~~______ ___
----may-- aelegate~---fn---acc~nee----wIth----p_ro-vi-sions of tIds
Declaration and the rules -- or regulations promulgated by the
Corporation, his right of enjoyment and use of the Common
Area- and facilities to members of his family, his tenants
or contract purchasers who reside on any Lot.
10. Easements in Common Area. Each Owner shall have
an easement in common with each other Owner to use all
pipes, _wires, ducts, cables, conduits, -utility lines and
other common facilities, if any, located in the Common Area
and Easements. Such easement and right to use shall pass-
with title to the Lot even though not expressly mentioned
in the document passing title.
An easement is also granted to the Corporation, its
officers, agents and employees and to any management
company selected by the Corporation to enter in or to cross
over the Common Area, Easements and Lots to perform its
duties; provided, however, except in the case of an
emergency, reasonable notice shall be given the Lot Owner.
11. --- Corporation;- -Membership; Voting; _ Functions'
(a) Membership-in CorPoration. Declarant- and-
each Owner of a Lot which is subj ect to assessment
shall, automatically upon becoming an Owner, be and
become a Member of the Corporation and shall remain a
Member until such time as his ownership of a Lot ceases
at which time his membership shall terminate and will
be transferred to the new Owner of his Lot; provided,
however, that any person who holds the interest of an
Owner in a Lot merely as security for the performance
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of an obligation shall not be a Member until and unless
he realizes upon his security, at which time he shall
automatically be and become an Owner and a Member of
the Corporation.
(b) Voting Rights. The Corporation shall have
two (2) classes of membership with the following voting
rights:
(i) Class A. Class A Members shall be all Owners
except Class B Members. Each Class A Member
------------SliaII-:ce--entrtled to orie--Cr)-VoEe---for-eacn--
IJo-r-of-wh-f-ch--such-M-emheT-rs--the-ewner-wit-h-~---------
-------------- - ------------re-OpeettO--eacn--matEe-i s~u:gm:_~--to-a-- - 'f6t-e-of----------------
Members upon which the Class A Members are
entitled to vote. When more than one (1)
person constitutes the Owner of a particular
Lot, all such persons shall be Members of the
Corporation, but all of such persons shall
have only one (1) vote for such Lot, which
vote shall be exercised as they among
themselves determine, but in no event shall
more than' - one (1) vote be cast with respect
to any such Lot.
(ii)
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Class B. Class B Members shall be Declarant
and all successors and assigns of Declarant
designated by Declarant as Class B Members
in a written notice mailed or delivered to
the resident agent of the Corporation. Each
Class B Member shall be entitled to four (4)
votes for each Lot of which it is the Owner
on all matters requiring a vote of the
Members of the Corporation. The Class B
--membership -shall, cease ,'-and ,terminate _ upon
the Applicable _ Date,- which - ',shall- be' the
first. Eo Occur "of- (i) the 'date' upon' which
the written resignation of the Class B
Members as such is delivered to the resident
agent of the Corporation, (ii) the date when
seventy-five percent (75%) of all Lots in
all platted and/or planned sections of
Hayden Run have been conveyed by Declarant,
or (iii) February, 2009.
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(c) Functions. The Corporation has been formed
for the purpose of providing for the maintenance,
repair, upkeep, replacement, administration, operation
and ownership of the Common Area, to pay taxes assessed
against and payable with respect to the Common Area and
to pay any other necessary expenses and costs in
connection with the Common Area and to perform such
other functions as may be designated for it to perform
under this Declaration.
12. Board of Directors
.: ---------------:----~--(-a_>_.:-----Management- .-----'I'he---bus-ine s s- and---aff a i rs--o-f-t he----
eorporati-on-sha3..-l-be-governed--and-managed by-t-he--Board
of Directors. No person shall be eligible to serve as
a member of the Board of Directors unless he is, or is
deemed in accordance with this Declaration to be, an
Owner, or is a person appointed by Declarant as
provided in subparagraph (b) of this Paragraph 12.
(bY . Initial . Board of . Directors . The Initial
Board of Directors shall be composed of the' persons
-------de-s-i-gna-ted---4-n-t-ne-Ar-t-i-c-les,----t-e--w-i-t---:---'I'em--'---Kut-z-, --'Ferri-----.
Fernandez and Joe Reel (herein referred to as the
"Initial Board"), all of whom have been or shall be
appointed by Declarant. Notwi thstanding anything to
the contrary contained in this Declaration, the
Articles or the Bylaws (a) the Initial Board shall hold
office until the Applicable Date, and (b) in the event
of any vacancy or vacancies occurring in the Initial
Board for any reason or cause whatsoever prior to the
Applicable Date, determined as provided above, every
such vacancy shall be filled by a person appointed by
. Declarantj who -- shalltherea,fterbe: deemed' a member of
the' .Ini tial Board ~ Each Ow~er,' by acceptance of' a. deed
to a Lot, or by acqu{sition of - any" iriterest' in a
Dwelling Unit by any method shall be deemed to have
appointed Declarant as such Owner's agent,
attorney-in-fact and proxy, which shall be deemed
coupled with an interest and irrevocable until the
Applicable Date determined as provided above, to
exercise all of said Owner's right to vote, and to vote
as Declarant determines, on all matters as to which
Members of the Corporation are entitled to vote under
C, \NINDOWS\TEMP\3SS81_S, DOC
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the Declaration, the Articles, the Bylaws or otherwise.
This appointment of Declarant as such Owner's agent,
attorney-in-fact and proxy shall not be affected by
incompetence. of the Owner granting the same. Each
person serving on the Initial Board, whether as an
original member thereof or as a member thereof
appointed by Declarant to fill a vacancy, shall be
deemed a Member of the Corporation and an Owner solely
for the purpose of qualifying to act as a member of the
Board of Directors and for no other purpose. No such
person serving on the Initial Board shall be deemed or
considered a Member of the Corporation nor an Owner of
-----a--Lotn-for-nany--other-purpose----(unless-he-.-i s --a.c.tually-the-----....---
0wner-o-f---a----I:Jot-and--t-he-reby--a-Memhe.r of tIle
Corporation) .
(c) Additional Qualifications. Where an Owner
consists of more than one person or is a partnership,
corporation, trust or other legal entity, then one of
the persons constituting the multiple Owner, or a
partner or an officer or trustee shall be eligible to
serve on the Board of Directors, ..exceptthat.. no single
Lot-or-Dwelling .Unit may be represented on the Board of
-.------Di-~ec-t_GFS~-:by---mGFe-t-han-0ne--f)er-sGn ---a t;--a-t-ime- .-- ---------- _~__________n
(d) Term of Office and Vacancy. Subject to the
provisions of subparagraph (b) of this Paragraph 12, at
least one (1) member of the Board of Directors shall be
elected at each annual meeting of the Corporation. The
Initial Board shall be deemed to be elected and
re-elected as the Board of Directors at each annual
meeting until the Applicable Date provided herein.
After the Applicable Date, the Board of Directors will
consist of . three (3).members, E'!lectedbyth~ .qwners.
Each member. of. the . Board . of Directors . shall be elected
for a'term ofthre'e'. (3) years, except that at the first
election after the Applicable Date (which, if
appropriate, may be a special meeting) one (1) member
of the Board of Directors shall be elected for a three
(3) year term, one (1) member for a two (2) year term,
and one (1) member for a one (1) year term so that the
terms of at least one-third (1/3) of the members of the
Board shall expire annually. If such election is at a
special meeting, the Directors elected shall serve for
c, \lfINllOIfS\ TEMP\] BS81_S. coc
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the applicable period plus the time from the special
meeting to the first annual meeting. There shall be
separate nominations for the office of each member of
the Board to be elected at such .first election after
the Applicable Date. Each Director shall hold office
throughout the term of his election and until his
successor is elected and qualified. Subject to the
provisions of subparagraph (b) of this Paragraph 12 as
to the Initial Board, any vacancy or vacancies
occurring in the Board shall be. filled by a vote of a
maj ori ty of the remaining members of the Board or by
vote of the Owners if a Director is removed in
accordance with subparagraph (e) of this Paragraph 12.
The Director so filling a vacancy shall serve until the
next annual meeting of the members and until his
successor is elected and qualified. At the first
annual meeting following any such vacancy, a Director
shall be elected for the balance of the term of the
Director so removed or in respect to whom there has
otherwise been a vacancy.
". (e) Removal of Directors. A Director or
Directors, except the members of the Initial Board; may
be removed with or without cause by vote of a majority
of the votes entitled to be cast at a special meeting
of the Owners duly called and constituted for such
purpose. In such case, his successor shall be elected
at the same meeting from eligible Owners nominated at
the meeting. A Director so elected shall serve until
the next annual meeting of the Owners and until his
successor is duly elected and qualified.
(f) Duties of the Board of Directors. The Board
of Directors shall be the governing body of the
Corpora.tion . representing '. all . of. the' Owners - and -being' ."
.:i::'esponsible for. the. - fu~c'tion-sarid - duties'.. of '. the.
Corporation, inchi.ding, but' not 'limi"ted to, providing
for the administration of the Corporation, the
management, maintenance, repair, upkeep and replacement
of the Common Area and Landscape Improvements (unless
the same are otherwise the responsibility or duty of
Owners) and the collection and disbursement of the
Common Expenses. The Board may, on behalf of the
Corporation, employ a reputable and recognized
professional property management agent (herein called
c, \tlINIlClWS\ TIlMP\38 581_5. coc
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the "Managing Agent" ) upon such terms as the Board
shall find, in its discretion, reasonable and
customary. The Managing Agent, if one is employed,
shall assist the Board in carrying out its duties,.
which include, but are not limited to:
(ii)
(iii)
(iv)
(v)
(vi)
c, \WINDOIIS\ TZMP\J8581_S. COC
(i)
Protection, surveillance and replacement of
the Common Area; provided, however, that
this duty shall not include or be deemed or
interpreted as a requirement that the
Corporation, the Board or any Managing Agent
must provide anyon-site or roving guards,
security service or security system for
protection or surveillance, and the same
need not be furnished;
Landscaping, maintenance and upkeep of the
Common Area and Landscape Improvements(except
as is otherwise the obligation of an
Owner);such maintenance obligation
specifically includes, but is not limited to,
walking. paths or trails (including that.
portion. . of · the. path or trail which is
included in any right of way) signage,
drainage areas and facilities, ponds and
lakes.
Assessment and collection from the Owners of
each Owner's respective share of the Common
Expenses;
Preparation of the proposed annual budget, a
copy of which will be mailed or delivered to
each Owner at the same time as the notice of
.annual.meeting is ma:j.leoor delivered;
. Preparing .and delivering annually' to 'th.e
Owners a full accounting of all receipts and
expenses incurred in the prior year; such
accounting shall be delivered to each Owner
simultaneously with delivery of the proposed
annual budget for the current year;
Procuring and maintaining for the benefit of
the Corporation and the Board the insurance
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coverages required under this Declaration and
such other insurance coverages as the Board,
in its sole discretion, may deem necessary or
advisable;
(vii)
Paying taxes assessed against and payable
wi th respect to the Common Area and paying
any other necessary expenses and costs in
connection with the Common Area;
n SS) Powers of the Board of Directors ..'l'he I?~ard
of Directors shall have su~h powers as are reasonable ______
and necessary to accompliSh----ele perfo_~ma!!-E~_9f tliei~_____
duties. T11ese poweJ::s ihclude, but al::e Hut lilu.i.Led Lo,
the power:
---(i) -To-employ-a- Managing---.Agent-- to assist the ---
Board in performing its duties;
(ii) To purchase, lease or otherwise obtain for
the Corporation, to enable it to perform its
.functions and.. duties, such - equipment,
materials, labor and services as. may be
necessary in the judgment of the Board of
Directors;
(iii)
To employ
contractors,
judgment of
necessary or
business and
legal counsel, architects,
accountants and others as in the
the Board of Directors may be
desirable in connection with the
affairs of the Corporation;
(iv) To employ, designate, discharge and remove
such personnel as in the judgment of the
Board Of .Directors m_ay be necessary-for: the
. B.oardof. Directo.rs .to .perform ;i.ts-duties; ...
(v) To include the costs of all of the above and
foregoing as Common Expenses and to pay all
of such costs therefrom;
(vi) To open and maintain a bank account or
accounts in the name of the Corporation;
c, \WINIlOWS\ TEIIP\38581_5_DOC
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(vii) To promulgate, adopt, revise, amend and alter
from time to time such additional rules and
regulations with respect to use, occupancy,
operation. and enjoYment of the Tract and the
Common Area (in addition to those set forth
in this Declaration) as the Board, in its
discretion, deems necessary or advisable;
provided, however, that copies of any such
additional rules and regulations so adopted
by the Board shall be promptly delivered or
mailed to all Owners. Such rules and
.. --regulatiorl13- may . provide.. that an Owner's
fa-i:lure to comply wi En such rules ana
regulationo ffi;J.y result in (i) the--inlpositioll
of fines by the Corporation against such
Owner; and/or (ii) such Owner losing the
rightu_to..use. the__Common Area and ..related-
facilities.
(h) Limitation on Board Action. After the
Applicable Date, the authority of the Board of
Directors to ente~ into contracts shall . be limited to
contracts irivol ving a total. expenditure of less than
$5,000.00 without obtaining the prior approval of a
majority of the Owners, . except that in the following
cases such approval shall not be necessary:
(i) Contracts for replacing or restoring
portions of the Common Area damaged or
destroyed by fire or other casualty
where the cost thereof is payable out of
insurance proceeds actually received;
(ii)
Proposed contracts
;expendi turesexpressly.
proposed annual budget.;
and proposed
set:fortp . in. the
and
(iii) Expenditures necessary to deal with
emergency conditions in which the Board
of Directors reasonably believes there
is insufficient time to call a meeting
of the Owners.
(i) Compensation. No Director shall receive any
compensation for his services as such except to such
C, \WINDOWS\TEHP\38SBl_S. DOC
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extent as may be expressly authori zed by a maj ori ty
vote of the Owners. The Managing Agent, if any is
employed, shall be entitled to reasonable compensation
for its services, the cost of which shall be a Common
Expense.
(j) Non-Liability of Directors. The Directors
shall not be liable to the Owners or any other persons
for any error or mistake of judgment exercised in
carrying out their duties and responsibilities as
'Directors, except for their own individual willful
misconduct, bad faith or gross negligence. The
Corporation shall indemnify and hold harmless and
defend each of the Directors against any and all
liability to any person, firm or corporation arising
out of contracts made by the Board on behalf of the
Corporation, unless any such contract shall have been
made in bad faith. It is intended that the Directors
shall have no personal liability with respect to any
contract made by them on behalf of the Corporation.
(k) ..' Additional. Indemnity of. Directors . The
Corporation shall. indemnify, hold harmless and defend
any person, his heirs, assigns and legal
representatives, made a party to any action, suit or
proceeding by reason of the fact that he is or was a
Director of the Corporation, against the reasonable
expenses, including attorneys' fees, actually and
necessarily incurred by him in connection with the
defense of such action, suit or proceeding, or in
connection with any appeal therein, except as otherwise
specifically provided herein in actions, suits or
proceedings where such Director is adjudged liable for
bad faith, gross negligence or wilful misconduct in the
. performance of his . duties. ThE;!.qorporation.shall. also
, reimburse.' any . such Director the. reasonable costs' of
'settlement of or judgment. rendered in any actlon-, suit
or proceeding, if it shall be found by a majority vote
of the Owners that such Director was not guilty of
gross negligence or misconduct. In making such
findings and notwithstanding the adjudication in any
action, suit or proceeding against a Director, no
Director shall be considered or deemed to be guilty of
or liable for negligence or misconduct in the
performance of his duties where, acting in good faith,
e, \llIIIlXlWS\ TEMP\38581_S. cae
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such Director relied on the books and records of the
Corporation or statements or advice made by or prepared
by the Managing Agent (if any) or any officer or
employee thereof, .or any accountant, attorney or other
person, firm or corporation employed by the Corporation
to render advice or service unless such Director had
actual knowledge of the falsity or incorrectness
thereof; nor shall a Director be deemed guilty of or
liable for negligence or misconduct by virtue of the
fact that he failed or neglected to attend a meeting or
meetings of the Board of Directors.
(I) Bond. The Board of Directors may provide
surety bonds and may require the Managing Agent (if
any), the treasurer of the Corporation, and such other
officers as the Board deems necessary, to provide
surety bonds, indemnifying the Corporation against
larceny, theft, embezzlement, forgery,
misappropriation, willful misapplication, and other
acts of fraud or dishonesty, in such sums and with such
sureties as may be approved by the Board of Directors
.andany.such,bond shall specifically.includeprotection
for any insurance. proceeds received for any reason by
the Board. The expense of any such bonds shall be a
Common Expense.
13. Initial Management. The Initial Board of
Directors has entered or will hereafter enter into a
management agreement with Declarant or a corporation or
other entity affiliated with Declarant or a third party
management company for a term not to exceed three (3) years
with either party having the right to terminate upon ninety
(90) days' notice under which Declarant, such affiliate of
Declarant or such third party management company will
provide supervision,; management . and.maiiitehartceof' the.
Common Area (except as stich is the obligation ". of the
individua.l Owners) . and in . general, perform all of .the
duties and obligations of the Corporation. Such management
agreement may be renewed by the parties for additional
terms of three (3) or less years. Such management
agreement is or will be subject to termination by Declarant
(or its affiliate as appropriate) at any time prior to
expiration of its term, in which event the Corporation
shall thereupon and thereafter resume performance of all of
its duties and obligations. Notwithstanding anything to
C. \llINOOIlS\ TEMP\38581_S. DOC
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the contrary contained herein, so long as a management
agreement is in effect, Declarant shall have and Declarant
hereby reserves to itself the exclusive right to manage the
Tract and perform all the functions of the Corporation.
14. Real Estate Taxes. Real estate taxes are to be
separately assessed and taxed to each Lot. In the event
that for any year the real estate taxes are not separately
assessed and taxed to each Lot but are assessed and taxed
on the Real Estate or part thereof as a whole, without a
breakdown for each Lot, then each Owner shalJ:_p~ his
proportionate share of the real estate taxes assessed to
Ehe lan~~~~_~iSiI!g__ the Real Est;at~_or_~l].~_L2arL_th~};eof
-that-- is assessed ell:::! c;l. whult::l, wh.it;h shall be the ratio that
the square footage in his Lot bears to the total square
footage of all the land comprising the Real Estate or part
thereof assessed as a whole. Real estate taxes assessed on
the improvements on the Real Estate shall be paid by the
Owner of such improvements. Any real estate taxes or other
assessments which are chargeable against the Common Area
shall be paid by the Corporation and treated as a Common
Expense.
15. Utilities. Each Owner shall
utilities which are separately metered.
are not separat~ly metered, if any, shall
paid as part of the Common Expense
determined by the Corporation.
pay for his own
Utili ties which
be treated as and
unless otherwise
16. Maintenance, Repairs and Replacements.
Maintenance, repairs, replacements and upkeep of the Common
Area and Landscape Improvements (except as such is the
obligation of the individual Owners) shall be furnished by
the Corporation, as a part of its duties, and the cost
· thereof-,shall ,const,itute a 'part of ,the' Common Expenses :" '
After the Applicab:;Le Date and ~orf:lO 'long'as'the ,I?eclarant .
oWn:sany 'Lot(s),' Declarant may, upon "five' (5)' days notice
to the Corporation, undertake any maintenance, repair or
upkeep which the Corporation is obligated, but has failed,
to undertake. Declarant may then bill the Corporation for
the cost of such maintenance, repair or upkeep. Such bill,
if not paid by the Corporation within thirty (30) days of
receipt, shall bear interest at the rate of (12%) per
annum.
c, \IlIIfDOIfS\ TEMP\38S81_5. cae
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Each Owner shall be responsible for maintaining and
keeping his Lot, Dwelling Unit, and all other structural
improvements located on his Lot in a good, clean, neat,
sanitary and well maintained condition and shall do such
work" thereon as is required to cause such Lot and
structural improvements to be so maintained. . The
obligation to maintain a Lot shall exist, whether or not a
Dwelling Unit exists on such Lot, and the Owner of such Lot
shall keep such Lot maintained in the same manner as such
Lot would be maintained if a Dwelling Unit existed thereon.
Each Owner sh.all also maintain (i) the dusk-to-dawn
____~ ~ght !'I_ins taTleci____~m fils_.;Lot__ in____9Eod \.'lorki~g__~2};lgiJ:: iQ.z:1-I________.
including but l1at lilllited La, L~fJld.~~lli~l.I.L vI fJhvLu ~~lls;
(ii) the mailbox and post installed on his Lot in good
working condition; and (iii) any trees originally planted
on his Lot in the area adjacent to the sidewalk ("Street
Trees"). Any repair or replacement of mailboxes and/or
posts shall be of the same design and quality as originally
installed by Declarant. In the event any Street Tree dies,
the Owner of' such Lot shall be responsible for replacing,
at Owner's expense, the Street Tree with a . substantially
similar tree, meaning a tree 6fthe. same species as the
original Street Trees and with a minimum caliper of two and
one-half (2~) inches. Each Owner shall be responsible for
the maintenance of the Street Trees located on his Lot.
Notwithstanding any obligation or duty of the
Corporation to repair or maintain the Common Area or
Landscape Improvements, if, due to the willful, intentional
or negligent acts or omissions of an Owner or of a member
of his family or of a guest, tenant, invitee or other
occupant or visitor of such Owner, damage shall be caused,
or if maintenance, repairs or replacements shall be
'.' required thereby,. ..whi.ch...would . otherwise . be. .a. Common
Expense, then ..such . Owner. shall 'pay for .such damage and such,
., maintena.'nce,' repaiis and replacements', as may be determined
by the Corporation, unless such loss is covered by the
Corporation's insurance with such policy having a waiver of
subrogation clause. If not paid by such Owner upon demand
by the Corporation, the cost of repairing such damage shall
be added to and become a part of the assessment to which
such Owner's Lot is subject.
C. \IIINllOIlS\TIlMP\JBS81_S. DOC
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If any Owner shall fail (i) maintain and keep his Lot,
Dwelling Unit and other structural improvements located on
his Lot in a good, clean and sanitary condition as
determined by the Board of Directors or (ii) comply with
the terms of this Paragraph 16,' the Corporation may perform
any work necessary to do so and charge the Owner thereof
for such cost, which cost shall be added to and become a
part of the Owner's assessment, and such cost shall. be
immediately due, and shall be secured by the Corporation's
lien on the Owner's Lot.
---..---..-----.------------.------..----..'.----.-.----------....-.--.---...--...
-----------s-o---long--as the Tract is subj ect to this Declaration
each Owner, :oy---his acceptance of a aee-a-to. any- Lo~____-
irrc......o6ably grants to the Corporatiol!, .i.Le d.~t::uLt:l d.ml
employees, the right, in the form of a permanent easement,
to enter upon, across and over the Lot owned by such Owner
_under ..such....condi t ions--.. as. are reasonabl y--necessa-ry--top-effectm
the maintenance, cleaning, repair, landscaping or other
work contemplated herein.
17. Architectural Control
(a) The Architectural Review Board. As a
standing committee of the Corporation, there shall be,
and hereby is, established an Architectural Review
Board consisting of three (3) or more persons. Until
the Applicable Date, the Architectural Review Board
shall be the Initial Board of Directors. After the
Applicable Date, the Architectural Review Board shall
be appointed by the Board of Directors and may be
different than or the same as the Board of Directors.
(b) Purposes. The Architectural Review Board
shall regulate the external design, appearance, use,
_ location.. and maintenance of ,the Tract ,(including ,the
Common Area,'., Easements,' Landscape ImP:r:ovements' arid.'
Lot's)ahd 'of improvements' thereoriinsuchmaIlneras to
preserve and enhance values and to maintain a
harmonious relationship among structures and
improvements.
(c) Conditions. No improvements, alterations,
excavation or changes in grade or other work which in
any way alters any Lot or the exterior of any Dwelling
Unit or other improvement thereon shall be made or done
C, \IlIIIDOIfS\TE>IP\3 BS81_S, DOC
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without the prior written approval of the Architectural
Review Board, except as otherwise expressly provided in
this Declaration. There shall be no requirement that
the Architectural Review aoard approve the initial
construction of a Dwelling Unit on a Lot. No building,
fence, wall, Dwelling Unit, or other structure shall be
commenced, erected, maintained, improved, altered, made
or done on any Lot without the prior written approval
of the plans by the Architectural Review Board other
than the initial construction of a Dwelling Unit and
other improvements provided the plans for such
construct ion are approve'"d ny Decl~irant. .-----~----------
00-----.-----(0) Procedures. In tne event the l\rclii tectu:ral
Review Board fails to approve, modify or disapprove in
writing an application within thirty (30) days after
n .... 00_'_ __suchoo. n.applicatiQn_____Jand.___alL ..... pl.ans_,__ drawings,_ _.
specifications and other items required to be submitted
to it in accordance with such rules as it may adopt)
have been given to it, approval will be deemed granted
by the Architectural Review Board. A decision of the
Architectural. Review Board may be appealed. to the Board
. of Directors which may reverse or modify such decision
by a majority vote.
18. Assessments
(a) Annual Accounting. Annually, after the close
of each fiscal year of the Corporation, the Board shall
cause to be prepared and furnished to each Owner a
financial statement prepared by an accounting group
approved by the Board, which statement shall show all
receipts and expenses received, incurred and paid
during the preceding fiscal year.
(b) Propose'dAnnuaIBudget.. An,nually,. b~forethe
dafe of t.he . annual meeting" 'ofn. the n, Corporation,.' the
Board of Directors shall cause to be prepared a
proposed annual budget for the next fiscal year
estimating the total amount of the Common Expenses for
the next fiscal year and shall furnish a copy of such
proposed budget to. each Owner at or prior to. the time
the notice of such annual meeting is mailed or
delivered to such Owners. The annual budget shall be
submitted to the Owners at the annual meeting of the
C, \WINDOlfS\TEMP\38581_5, coc:
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Corporation for adoption and, if so adopted, shall be
the basis for the Regular Assessments (hereinafter
defined) for the next fiscal year. At the annual
meeting of the Owners, notwithstanding any _ other
prov~s~on in this Declaration, the Articles or the
Bylaws, the budget may be approved in whole or in part
or may be amended in whole or in part by a majority
vote of those Owners present either in person or by
proxy i provided, however, that in no event shall the
annual meeting of the Owners be adjourned until an
annual budget is approved _ and adop~ed ~L~~ch .t!.l.~~~ingL_____d____
---either-the proposed annuai- budget or the proposed
__ ___annuaL__budg_et_____as___amended_._______'I'-he__annual---budget,----then..--
Re~-l-ar-As-se-ftS-men-t-s---and--a-ll sunls--a1::l8e8t:l~-d--by~he
Corporation shall be established by using generally
accepted accounting principles applied on a consistent
basis.
The annual budget and the Regular Assessments
shall, in addition, be established to include the
establishment and maintenance of a replacement reserve
fund for capital- .expenditures -and replacement -and
____un ---repa:ir-or---the-Common-Area ana-"r;-andscapen-Irnprov-ement s
n------that-must--be-- repa-iredand- l?eplaceci-on -a-periodic basis,
which replacement reserve fund shall be used for those
purposes and not for usual and ordinary maintenance
expenses. By way of example only, the replacement
reserve fund will be used for repairing and replacing
items such as pumps, filters, landscaping (other than
annual plantings and mulch), equipment, playground
facilities and clubhouse furnishings and equipment.
Usual and ordinary expenses which will not be paid out
of the replacement reserve fund include but are not
limited to, snow removal, fertilization, annual
-- plantings, .mulch,-; andpreventi ve -mai.ntenance con-tracts-,
-Such _replacement __ res.erve- _ fund shall ':be mciintai:ned by
the C'orporation in a - separate 'interest - bearing aC"courit
or accounts with one or more banks or savings and loan
associations authorized to conduct business in Hamilton
County, Indiana selected from time to time by the
Board.
The failure or delay of the Board of Directors to
prepare a proposed annual budget and to furnish a copy
thereof to the Owners shall not constitute a waiver or
C,\"'NDOWS\TEMI'\38581_5,COC
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release in any manner of the obligations of the Owners
to pay the Common Expenses as herein provided, whenever
determined. Whenever, whether before or after the
annual meeting of the. Corporation, there is no annual
budget approved by the Owners as herein provided for
such current fiscal year, the Owners shall continue to
pay Regular Assessments and Additional Assessments for
Duplex Units based upon the last approved budget or, at
the option of the Board, based upon one hundred and ten
percent (110%) of such last approved budget, as a
temporary budget.
_~___u___~~'___ _-<c.)u_ _,Regular__Ass_e s sments..__, The _annual___budget_,_~as_
adept ed ay~-e-G-wners,-sha-l--l--,--ba-s-ecl.-eH--t:;-h-e--e-s-ti-ma--t--eEl
cash requirement for the Common Expenses in the current
fiscal year as set forth in said budget, contain a
proposed assessment, against each Lot equal to the
Common Expenses multiplied by a percentage equal to one
divided by the total number of Lots in the Tract.
Immediately following the ~doption of the annual
budget, each Owner shall be given written notice of
such assessment, against his respective ,Lot (herein.
-called-t-he~""ReglXlar- ASSeEfSrnent"t-r -- "'pYbvided-hbwever;
-_'__~______that.~,. any.,.Regular~ Assessments, --Special--As ses sments.~or.,
Additional Assessments may be applied to Lots owned by
Declarant only with the written consent of Developer
which written consent shall not be inferred or implied
by Declarant's execution and recordation of this
Declaration. In the event the Regular Assessment for a
particular fiscal year is initially based upon a
temporary budget, such Regular Assessment shall be
revised, within fifteen (15) days following adoption of
the final annual budget by the Owners, to reflect the
assessment against each Lot based upon such annual
,budget aSfinally.adopted.bythe,Owners; '.The ,aggregate .'
amount of the RegularAssess~entsshall beequal,tothe
total' amount '6fexp'erises 'provided' and included in 'the
final annual budget, including reserve funds as herein
provided. The Regular Assessment against each Lot
shall be paid in advance in two equal semi-annual
installments with the first paYment due on the first
day of the first month of each fiscal year. Payment of
the semi-annual installments of the Regular Assessment
shall be made to the Board of Directors or the
Managing Agent, as directed by the Board of Directors;
C, \IIINllOllS\TEIlP\J8S81_S.DOC
27
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provided, however, the Owners
assessments annually, in advance.
Regular Assessment for a particular
Corporation was initially. based
budget.:
may elect to pay
In the event the
fiscal year of the
upon .a temporary
(i) If the Regular Assessment based upon the
final annual budget adopted by the
Owners exceeds the amount of the Regular
Assessment based upon the temporary
budget, that portion of such excess
applicable to the period from the first
day of the current fiscal year to the
date of the next payment of the Regular
Assessment which is due shall be paid
with such next payment, and all payments
thereafter during such fiscal year,
shall be increased so that the Regular
Assessment as finally determined shall
be paid in full by the remaining
payments due in such fiscal year, or
(ii) If the Regular Assessment based upon .the
temporary budget exceeds the Regular
Assessment based upon the final annual
budget adopted by the Owners, such
excess shall be credited against the
next payment or payments of the Regular
Assessment coming due, until the entire
amount of such excess has been so
credited;
provided, however, that if an Owner had paid his
Regular Assessment annually in advance, then the
. adjustments set~ort.h,under. {i}. or (ii) above ..shall :be
made' bya .' cash payment by, or refund' to,' . the' Owner on
the" first. day 'of the" second month 'followins(. the
determination of the Regular Assessment based upon the
annual budget finally adopted by the Owners.
The Regular Assessment for the current fiscal
year of the Corporation shall become a lien on each
separate Lot as of the first day of each fiscal year of
the Corporation, even though the final determination of
the amount of such Regular Assessment may not have been
c: \"INOOIlS\TllMP\J85B1_'. COC
28
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made by that date. The fact that an Owner has paid his
Regular Assessment for the current fiscal year in whole
or in part based upon a temporary budget and
thereafter, before the annual budget and Regular
Assessment are finally determined, approved and
adjusted as herein provided, sells, conveys or
transfers his Lot. or any interest therein, shall not
relieve or release such Owner or his successor as Owner
of such Lot from paYment of the Regular Assessment for
such Lot as finally determined, and such Owner and his
successor as Owner of such Lot shall be jointly and
severally liable for the Regular Assessment as finally
determined. Any statement of unpaid assessments
furnished by the Corporation pursuant to Paragraph 19
hereof prior to the final determination and adoption of
the annual budget and Regular Assessment for the year
in which such statement is made shall state that the
matters set forth therein are subject to adjustment
upon determination and adoption of the final budget and
Regular Assessment for such year, and all parties to
whom any such statement may be deli vered or who may
rely . thereon .shall be. bound by . such .final
determinations. Semi-annual installments of Regular
Assessments shall be due and payable automatically on
their respective due dates without any notice from the
Board or the Corporation, and neither the Board nor the
Corporation shall be responsible for providing any
notice or statements to Owners for the same.
(d) Special Assessments. From time to time
Common Expenses of an unusual or extraordinary nature
or not otherwise anticipated may arise. At such time
and without the approval of the Owners, unless
otherwise provided in this Declaration, the Board of
Director13 . . shall have: . the full'right, power .and
authority. to. make spe.cial . assessments which, upon
resoluti.on Qf.'the .Board,shall 'become a lien. on each
Lot, prorated in equal shares (herein called "Special
Assessment") . Without limiting the generality of the
foregoing provisions, Special Assessments may be made
by the Board of Directors from time to time to pay for
capital expenditures and to pay for the cost of any
repair or reconstruction of damage caused by fire or
other casualty or disaster to the extent insurance
C, \WINllClIlS\TEMP\J8581_5.DOC
29
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(,)
proceeds are insufficient therefor under the
circumstances described in this Declaration.
(e) .Additional Assessments. In the event that
Declarant constructs any recreational or similar
facilities which recreational or similar facilities are
for the sole benefit and use of the Owners of Lots in a
particular section of Hayden Run, the expenses
associated therewith shall be an Additional Assessment.
Any Additional Assessment will be assessed against each
Lot in that section in an amount equal to the expenses
--- mtiTtTprredoy a percentage equal to one-rn--aYvrdea-15y---------
- .. the~ut-a-I-numtYer~-f_____L_utF_:tn-tTI~a:ff_e_c_t.~eil__s-e-dti-on ~Such- -.. -
------~ad1tional~sses sme-nt shaTl-ne--iIiCluQ,8d--i-rl-fneanIilial--------
budget and shall be due at the same time as the Regular
Assessment. In the event the Additional Assessment for
a particular fiscal year of the Corporation was based
upon a temporary budget, any adjustment shall be done
in the manner provided for Regular Assessments under
Paragraph 18 (c).
(f) Regular Assessments Prior to the Applicable
Date. During the period that Declarant is selling Lots
and Dwelling Units are being constructed within the
Tract, it is difficult to accurately allocate the
Common Expenses to the individual Lots. The purpose of
this section is to provide the method for the paYment
of the Common Expenses during the period prior to the
Applicable Date to enable the Corporation to perform
its duties and functions. Accordingly and
notwi thstanding any other provision contained in the
Declaration, the Articles or the Bylaws or otherwise,
prior to the Applicable Date, the annual budget and all
Regular Assessments, Additional Assessments and Special
.A:ssessments. .-shall.. be..estab.lished by ,the: Initial Board
without any meetirig,. or Concurrence. oL the' Owners;
provided;' howeve-f, the. Regular Asses'smemts' shall be
determined in accordance with the provisions contained
in this Paragraph 18.
Prior to the Applicable Date, the Corporation
will enter into a management agreement with Declarant
or a corporation or other entity affiliated with
Declarant or a third party management company
(hereinafter referred to as ~Management Agent" or
C, \IIINCOlIS\TSHP\38581_5 ,DOC
30
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~Managing Agent") in accordance with the provisions of
Paragraph 13 of this Declaration. So long as such
management agreement remains in effect, the Common
Expenses or Regular Assessments shall be paid by Owners
to Management Agent. Management Agent shall guarantee
that until the earlier of (1) the termination of said
management agreement, or (2) December 31, 2002, the
yearly Regular Assessment shall not exceed $___. _After
December 31, 2002, assuming that said management
agreement has not been terminated) and so long
_____~h~Eeafter as said man<!gement agreement remains in _____
effeqt. ffil,n.d Manageme.nt Agent _continues _to_perform. such _
.__._n___~_un9tions ,_ Manageme~~gent guarantees that th~yearl-y__._._.__._..
Regula..L. At::lt::lt::t::lI::Hm:mt t::lhall not exceed the amounc of che
Guaranteed Charge, plus (1) the greater of an amount
representing an increase thereof to reflect any
increase in the Consumer. Price Index (all items - all
cities) published by the United States government over
such index as existed in the month of December, 2002,
or (2) ten percent (10%). The amount to be added to
the Guaranteed Charge shall be in an amount equal to
the same.' percentage ..of the. Gu~ranteed. Charge. . as the
percentage .. increase .in said Consumer Price Index or ten
percent (10%), whichever is greater, or if Declarant so
determines a lesser amount. Such adj ustments to the
Guaranteed Charge shall be made annually on the first
day of each fiscal year so long as said management
agreement remains in effect and Management Agent
continues to perform such functions. Such yearly
charge shall, during such guaranteed period, entirely
defray the Owner's obligation for his share of Common
Expenses or shall be the Owner's entire Regular
Assessment. Declarant shall be responsible for any
deficit during such guarantee period; provided,
however ,.- that. ..thi"s ,', guarantee. is .not..intended .... .to
. include, . and ,does _ not' include, major physical
alterations or . other unusual' . expenditures not
ordinarily anticipated in normal maintenance
operations. Such expenditures would be covered through
Special Assessments, or, if sufficient, the replacement
reserve fund.
Prior to the Applicable Date, ten percent (10%)
of the Regular Assessment shall be deposited into the
replacement reserve fund (as established by Paragraph
c, \IlIIIIlOWS\ TEM'\3BS81_S ,DOC
31
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18 (b)) until the balance of such replacement reserve
fund is $25,000.00. Thereafter, deposits into the
replacement. reserve fund will cease unless and until
expenditures are made from such fund, at which time t~n
percent (10%) . of the Regular Assessments will again be
deposited into such fund until the balance of such fund
again reaches $25,000.00. After the Applicable Date,
ten percent (10%) of the Regular' Assessment will be
deposited into the replacement reserve fund regardless
of the balance of such fund.
That portion of the Regular Assessment collected
by Declarant prior to the Applicable Date applicable to
the replacement reserve fund shall be held by the
Initial Board and if required, applied to the repair
and replacement of the Common Area and Landscape
Improvements as also described in Paragraph 18(b). To
the extent that such replacement reserve fund is not so
applied, the balance thereof shall be retained by the
Corporation at the Applicable Date.
.. Payment.. of the. Regular . Assessment .. prior .to the
Applicable Date.with respect to each Lot.shall commence
on the date of conveyance of such. Lot . by Declarant to
such new owner ("Commencement Date"). The first
payment shall be payable on the Commencement Date
prorated to the first day of the month when the next
semi-annual payment is due. Thereafter, payment of the
Regular Assessment shall be paid semi-annually
beginning with the first day of the fiscal year or the
first day of the seventh calendar month of the fiscal
year, as applicable.
Each Owner hereby authorizes the Corporation and
the Board of., Directors and its . officers .t.o.enter. into
.the' "aforesa~d manageme;nt... agreement d~scribed in
'Paragraph'.13' of this Declaration and to adhere to and.
abide by the same.
Neither the Declarant, or any builder
constructing Dwelling Units within the Tract shall be
assessed any portion of any Regular, Special or
additional Assessment prior to the Applicable Date.
c, \WlIICOIIS\ TElIP\3B581_' . DOC
32
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(g) Failure of Owner to Pay Assessments. No
Owner may exempt himself from paying Regular
Assessments, Additional Assessments and Special
Assessments . or from contributing toward the Common
Expenses or toward any other expense lawfully agreed
upon by waiver of the use or enjoYment of the Common
Area or by abandonment of the Lot belonging to him.
Each Owner shall be personally liable for the paYment
of all Regular, Additional and Special Assessments.
Where the Owner constitutes. more than one person, the
liability of such persons shall be joint and several.
If any Owner shall fail, refuse or neglect to make any
paYment of any Regular Assessment, Additional
Assessment or Special Assessment when due, the lien for
such assessment on the Owner's Lot and Dwelling Unit
may be filed and foreclosed by the Board of Directors
for and on behalf of the Corporation as a mortgage on
real property or as. otherwise provided by law. Upon
the failure of the Owner to make timely paYments of any
Regular Assessment, Additional Assessment or Special
Assessment when due the Board may, in its discretion,
accelerate the entire .balance of unpaid assessments and.
. declare the same immediately due and payable,
notwithstanding any other provisions hereof to the'
contrary. The Board may, at its option, bring suit to
recover a money judgment for any unpaid Regular
Assessment, Additional Assessment or Special Assessment
without foreclosing or waiving the lien securing the
same. In any action to recover a Regular Assessment or
Special Assessment, whether by foreclosure or
otherwise, the Board for and on behalf of the
Corporation shall be entitled to recover from the Owner
of the respective Lot and Dwelling Unit costs and
expenses of such action incurred (including but not
limi.ted. to . reasonable .at.torneys' '.fE:!es). and interest
from the d~tesuchCissesstnents. w~redue until: paid at
the rate 'eqUal to the" prIme interest rate as announced
by Bank One, Indianapolis, NA, from time to time by (or
if said bank is no longer in existence then such rate
charged by a national bank in Hamilton County, Indiana,
selected by the Board of Directors) during the unpaid
period plus three percent (3%).
(h)
Mortgage.
Subordination of Assessment Lien to
Notwi thstanding anything contained in this
C, \IIINDOIIS\TEIlP\38SB1_S.DOC
33
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Declaration, the Articles or the Bylaws, any sale or
transfer of a Lot to a Mortgagee pursuant to a
foreclosure on its mortgage or conveyance in lieu
thereof, or a conveyance to any person at a public sale
in a manner provided by law with respect to mortgage
foreclosures shall extinguish the. lien of any unpaid
installment of any Regular Assessment, Additional
Assessment or Special Assessment as to such installment
which became due prior to such sale, transfer or
conveyance; provided, however, that the extinguishment
of such lien cannot relieve the ~rior__o~ne~';-..9_llL__.-__n--__-
--------personal-liability the!:e~or._.!-_J{9__E!lJ..9_~1;l1~_I__transfe_r_orc -~, -0 ~'c~
-=-==~c=conveyance~sI1atI= reli~v.-;;c.-the Lot'-and.-nwefling .Unit.-or .______.
------ tIie purchaser at stich foreclosu:re sc:;l.le--~-~--gL~uLt:l~--i~-----
the event of conveyance in lieu thereof, from liability
for any installments of Regular Assessments, Additional
.... .._Assessments......or_ Special..... Assessment sthereaft.erbecoming-
due or from the lien therefor. Such unpaid share of
any Regular Assessments, Additional Assessments or
Special Assessments, the lien for which has been
divested as aforesaid shall be deemed to be a Common
Expense collectible from all Owners (including the
party acquiring the subject Lot from which it arose) .
(i) Default. Subj ect to the provisions of the
mortgage documents, a failure of an Owner to pay any
Regular Assessment, Additional Assessment or Special
Assessment as provided herein shall not constitute a
default under such mortgage documents.
19. Mortgages and Unpaid Assessments.
(a) Notice to Corporation. Any Owner who places
a first mortgage lien upon his Lot, or the Mortgagee,
,shall. notify ,the Se.cret.ary of the . Corporation' thereof,
. and. provide the' namE! 'and address of, the . Mortgagee: . 'A
, r'ecord of such Mortgagee and name 'and address. shall. be'
maintained by the Secretary and any notice required to
be given to the Mortgagee pursuant to the terms of this
Declaration, the Bylaws or otherwise shall be deemed
effectively given if mailed to such Mortgagee at the
address shown in such record at the time provided.
Unless notification of any such mortgage and the name
and address of Mortgagee are furnished to the
Secretary, either by the Owner or the Mortgagee, no
C, \WINIlOWS\TEMP\JBSBl_S. DOC
34
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notice to any Mortgagee, as may be otherwise required
by this Declaration, the Bylaws or otherwise, shall be
required and no Mortgagee shall be entitled to vote on
any matter. to which it otherwise may be entitled by
virtue of this Declaration, the Bylaws, a proxy granted
to such Mortgagee in connection with the mortgage, or
otherwise.
The Corporation shall, upon request of a
Mortgagee who has furnished the Corporation with its
name and address as hereinabove~rovided, furnish such ._.___~u
---------.-Mort~~~~th __.wri t ten notice ._.gf.~I'l:Xcc_=~~tlJ~=:l~tJ;3.~-==,=,~-.
~c~,~~_._ pei:.formaiicie ~s-b()rrower-of any obligations of such__.____
borrO"vJcr under this Declaration o.r.. LlH:: Byld.wt:l which is
not cured within sixty (60) days.
_(b).u_ ___Notice-_of - Unpaid - Assessments..'I!he---
Corporation shall, upon request of a Mortgagee, a
proposed mortgagee, or a proposed purchaser who has a
contractual right to purchase a Lot, furnish to such
Mortgagee or purchaser a statement setting forth the
amount of the unpaid, Regular Assessments, Additional
Assessments or Special Assessments, or. other charges
against the Lot, which statement shall be binding upon
the Corporation and the Owners, and any Mortgagee or
grantee of the Lot shall not be liable for nor shall
the Lot conveyed be subj ect to a lien for any unpaid
assessments or charges in excess of the amounts set
forth in such statement or as such assessments may be
adjusted upon adoption of the final annual budget, as
referred to in Paragraph 18 hereof.
(c) Right of Mortgagee to Pay Real Estate Taxes
or Insurance Premiums. Mortgagees shall have the
right, but :notthe ,obligation" (1) .topay any ,taxes or,
otherc~arges - . against ',- the Common Area whi9harein_
default and (2') to p'ay any overdue'premiums on hazard
insurance for the Common Area or to secure new hazard
insurance for the Common Area on the lapse of a policy.
Any mortgagee making such payment shall be owed
immediate reimbursement by the Corporation.
20. Insurance.
C, \WINIlOWS\TEIIP\38SBl_S.DOC
35
(.)
w
(a) Casual ty Insurance. The Corporation shall
purchase a master casualty insurance policy affording
fire and extended coverage insurance insuring all of
the Common Area and Landscape Improvements in an amount
equal to the full replacement vaiue of the improvements
which in whole or in part, comprise the Common Area and
Landscape Improvements, unless the Board determines
that a lesser amount of insurance is appropriate. If
the Board of Directors can obtain such coverage for
reasonable amounts they shall also obtain "all risk"
coverage. The Board of Directors shall be responsible
for reviewing at-TeasE-anritialIyElie- amOunt andtype-- of
such insurance and shall purchase such additional
-----i-nsu-r--a-nGe--a-s-i-s-neees-sa-r-y-t-e--pr--e'V-i--Ele-~he--i_n_s-'\;;l-r__a_nee---- -------
required above.
All proceeds payable as a result of casualty
losses sustained which are covered by insurance
purchased by the Corporation as hereinabove set forth
shall be paid to it or to the Board of Directors. The
proceeds shall be used or disbursed by the Corporation
or. Board of Directors, as.appropriate.
Such master casualty insurance policy, and "all
risk" coverage, if obtained, shall (to the extent the
same are obtainable) contain provisions that the
insurer (a) waives its right to subrogation as to any
claim against the Corporation, the Board of Directors,
its agents and employees, Owners, their respective
agents and guests, and (b) contains an endorsement that
such policy shall not be terminated for nonpaYment of
premiums without at least thirty (30) days prior
written notice to Mortgagees.
..Each Owner.shall . be. solely responsible for .loss
.or damage.' to . his Dwelling .Unit and, the"contents
thereof, however '''caused, , and his . personal' property
stored elsewhere on the Tract and the Corporation shall
have no liability to the Owner for such loss or damage.
Each Owner shall be solely responsible for obtaining
his own insurance to cover any such loss and risk.
(b) Public Liability Insurance. The Corporation
shall also purchase a master comprehensive public
liability insurance policy in such amount or amounts as
e, \ "1NC01l5\ TEHP\ 38581_5. cae
36
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the Board of Directors shall deem appropriate from time
to time. Such comprehensive public liability insurance
policy shall cover the Corporation, the Board of
Directors, any committee or organ of ~he Corporation or
Board, any Managing Agent appointed or employed by the
Corporation, all persons acting or who may corne to act
as agents or employees of any of the foregoing with
respect to the Tract. Such public liability insurance
policy shall contain a "severability of interest"
clause or endorsement which shall preclude the insurer
from denying the claim of an Owner because of negligent
-acts'..Of.' tne."Corporat ion -or..o"th.er-'Owne'rs:.' .....-.. ..... .........-_..-.
(-e-)-G-t-he-r-I-n-s-b1-Fa-nee-.--'I!-he-Ge-r-fle-r-a.t.i-0Il-sha.I-1-.-al S0----------
obtain any other insurance required by law to be
maintained, including but not limited to workmen's
compensation and occupational disease insurance, and
such other insurance as the Board of Directors shall
from time to time deem necessary, advisable or
appropriate, including, but not limited to, liability
insurance on vehicles owned or leased by the
Corporation . and officers' . and, directors' liability.
. .policies. .Suchin.surance:'shallinurete>thebenefitof'
.-.. each Owner ,...theCorporation, the Board . of Directors and
any Managing Agent acting on behalf of the Corporation.
Each Owner shall be deemed to have delegated to the
Board of Directors his right to adjust with the
insurance companies all losses under the policies
purchased by the Board of Directors the proceeds of
which are payable to the Board or the Corporation.
(d) General Provisions. The premiums for all
insurance hereinabove described shall be paid by the
Corporation as part of the Common Expenses.
(e). Owners tO,Maintain Insurance. Each'Ownerof
a OwellinglJnit shall at all timesmalntairi fire and'
extended coverage insurance in an amount equal to the
full insurable replacement cost of such Dwelling Unit.
21. Casualty and Restoration of Common Dwelling Area.
In the event of damage to or destruction of any of the
Common Area or Landscape Improvements due to fire or any
other casualty or disaster, the Corporation shall promptly
C, ,"1NOOWS\TllMP\38581_5.DOC
37
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cause the same to be repaired and reconstructed. The
proceeds of insurance carried by the Corporation, if any,
shall be applied to the cost of such repair and
_ reconstruction.
In the event the - insurance proceeds, if any , received
by the Corporation as a result of any such fire or any
other casualty or disaster are not adequate to cover the
cost of repair and reconstruction of the Common Area or
Landscape Improvements, or in the event there are no
insurance proceeds, the cost for rest.oring th_~_~~m~3~ an~________
repairing and reconstructing the Common Area so damaged or
desEroyed _ (or ___ fhecosts thereot in _~~_~~ss_C?~__~:t:l~'-lE~p.ce___________
---proc-e-e-c):s- -rece-ived,-------.rf --ai~yT- -sl~all be assessE::d Ly Lhe
Corporation against all of the Owners in equal shares. Any
such amounts assessed against the Owners shall be assessed
as part of the Common Expenses and shall constitute a lien
from the time of assessment as provided herein.
For purposes of this Article, repair, reconstruction
and restoration shall mean construction or rebuilding the
Common Area or Landscape Improvement to as near as possible
the same condition as it existed - immediately prior to the
damage-or destruction.
22. Covenants and Restrictions. The following
covenants and restrictions on the use and enjoYment of the
Lots, Dwelling Units, Common Area shall be in addition to
any other covenants or restrictions contained herein and in
the Plat, and all such covenants and restrictions are for
the mutual benefit and protection of the present and future
Owners and shall run with the land and inure to the benefit
of and be enforceable by any Owner, or by the Corporation.
Present or future Owners or the Corporation shall be
- entitled toe injunctive relief against ;' any, violation, or
attempted yiolation'of- any such, covenants and restrictions,
and shall, -in addit'i6ri, - be entitled to damages for any'
injuries or losses resulting from any violations thereof,
but there shall be no right of reversion or forfeiture
resulting from such violation. These covenants and
restrictions are as follows:
(a) All Lots and Dwelling Units shall be used
exclusively for residential purposes and for occupancy
c, \llINIXlIIS\ TEM'\3BSBl_S.COC
38
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by a single family. No Lot shall be subdivided to form
lots of less area.
(b) All Dwelling Units. shall have the minimum
square footage of finished living area (exclusive of
garages, carports, basements and porches) required by
the Planned Unit Development Approval for the Hayden
Run and/or applicable zoning and subdivision laws.
(c) Nothing shall be done or kept in any Dwelling
Unit, or on any Lot, or on the Common Area which will
cause an increase--in the rate--of----:lnsurance on any
Common Area. No Owner shal rpermi t anything to be do:n.~___________
-----or=kep-t--In-hI-s--DweII.iI~g-U1~rt---oi--Oll-l~Is-L-o-C-o~--o~~--~-~~.Y .....~[
the Common Area which will result in a cancellation of
insurance on any Dwelling Unit or any part of the
Common Area, or which would be in violation of any law
or ordinance or the requirements of any insurance
underwriting or rating bureau.
(d) No nuisance shall be permitted on any Lot.
.. .
. .
(e) No Owner shall cause or permit anything to be
.... hung or displayed- on the outside of the windows of his
Dwelling Unit or placed on the outside walls of any
Dwelling Unit or building. No sign, awning, canopy,
shutter or radio or television antenna or other
attachment or thing shall be affixed to or placed upon
the exterior walls or roofs or any other parts of any
Dwelling Unit without the prior written consent of the
Architectural Review Board. No sign of any kind shall
be displayed to the public view on any Lot, except that
one sign of not more than six (6) square feet may be
displayed at any time solely for the purpose of
advertising - a property .for "sale~ and .except. that..
Declarqnt may us.e larger ~li"gns during the sale . and
development Of the Tract.." "
(f) No animals, livestock or poultry of any kind
shall be raised, bred or kept in any Dwelling Unit or
on any Lot or any of the Common Area or any of the
Easements, except that pet dogs, cats or customary
household pets may be kept in a Dwelling Unit, provided
that such pet is not kept, bred or maintained for any
commercial purpose, and does not create a nuisance.
C: \WlNOOlIS\TEMP\3BSB1_S" DOC
39
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(g) All rubbish, trash or garbage shall be stored
in closed sanitary containers, shall be regularly
removed from the premises, and shall.not be allowed to
accumulate.
(h) No industry, trade, or other commercial or
religious activity, educational or otherwise, designed
for profit, altruism or otherwise, shall be conducted,
practiced or permitted on the Tract; provided, however,
that notwithstanding the foregoing, lawful home offices
andhome business activiti~s_conducted by the Owner of
such Dwelling Unit are permissible provided all of the
following conditions are met:
(i) there is not significant increased
traffic in and around the Tract as a
result of such use or activity;
(ii) no signs, billboards, or other
advertising materials are displayed or
posted on the exterior of any Dwelling
Unit or anywhere else on the Tract;
(iii)
the use or acti vi ty does not violate
existing zoning laws;
(iv) the use or activity does not violate
any of the other provisions of this
Declaration, including, but not limited
to, this paragraph 22;
(v)
the Owner of the Dwelling Unit
maintain all necessary casualty
public liability insurance; and
shall
and
(vi)
such use or activity. is . conducted .
. durLng rea'sonable hours'.
(i) No structure of a temporary character,
trailer, boat, camper, bus or tent shall be maintained
on any Lot, nor shall any garage or other building,
except a permanent residence, be used on any Lot at any
time as a residence or sleeping quarters either
temporarily or permanently.
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(j) All Owners and members of their families,
their guests, or invitees, and all occupants of any
Dwelling Unit or other persons entitled to use the same
~nd to use and enjoy the Common Area or any part
thereof, shall observe and be governed by such rules
and regulations as may from time to time be promulgated
and issued by the Board governing the operation, use
and enjoYment of the Common Area.
(k) No boat docks, decks, rafts or similar
structtlres ()r_improyements shall be permitted on or
near the lakes. No Owner of any Lot shall do or permit
to be done any action or activity which could result in
u-----------t-he-pol}-ut:i::-on-of---t-he--l-akes-,--diversi on--ofwa ter,--change------.--
in elevation of the water level, earth disturbance
resulting in silting or any other conduct which could
result in an adverse effect upon water quality,
drainage or proper lake management or otherwise impair
or interfere with the use of the lake for drainage and
related purposes for the benefit of Hayden Run No
Owner, members of their families, guests or invitees or
occupants of ' any Dwell ing Unit. or other persons
-entItled to use the same, may swim, boat, ice skate or
engage in similar activities on the lake.
(1) No boats, campers, trailers of any kind,
busses, mobile homes, recreational vehicles, trucks
(larger than 3/4 ton), motorcycles, minibikes or mopeds
shall be permitted, parked or stored anywhere within
the Tract, unless stored completely enclosed wi thin a
garage. No repair work shall be done on the Tract on
any vehicles, including passenger automobiles unless
completely enclosed within a garage.
(m) ',No, Qwner ,shall ,be allowed ' to, plant, trees i
landscap'eor ,do ., any garde:niIlg' in any, of theCotnmon.Area
or' Easemerits, except with' express prior permission from'
the Board.
(n) The Common Area shall be used and enj oyed
only for the purposes for which it is designed and
intended, and shall be used subj ect to the rules and
regulations from time to time adopted by the Board.
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(0) No Owner may rent or lease his Dwelling Unit
for transient or hotel purposes.
(p) Any Owner who leases a Dwelling: Unit shall
lease the entire Dwelling Unit and shall have a written
lease which shall provide that the lease is subj ect to
the provisions of the Declaration and any failure of
the lessee to comply with the terms of the Declaration,
shall be a default under the lease.
(q) There are designated on the Plat building
lines. Except as required for utilities to serve the
Tract or a Lot, no building or structure will be
permitted within this no-build area.
(r) Each Owner by acceptance of a deed to a Lot
shall be deemed to have waived such Owner's right to
remonstrate against annexation of all or any portion of
the Tract.
(s) No detached structure shall be maintained on
any Lot except with the express. prior permissi~n from
the Architectural Re~iewBoard.
(t) Any fences to be constructed on a Lot must be
constructed in accordance with the provisions hereof
and must be approved by the Architectural Review Board
prior to the installation of any fence. The
Architectural Review Board will not approve any fence
unless it complies with the following requirements:
(i)
the fence is located in the rear yard of
the Lot (the fence shall adjoin the rear
side of the Dwelling Unit); there shall
. .be . .no fences whatsoever .. constructed. in
the front yard of any. Lot ;
(ii)
the fence shall be either a four (4) foot
black vinyl fence; six (6) foot wood,
shadowbox or dog-eared fence; or a wood
fence constructed with cedar treated
gothic top spaced picket panels (42"x8"
panels with 3 -3/8" pickets and no more
than 2-1/2" between pickets), as more
particularly shown on Exhibit C attached
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hereto and incorporated
"Picket Fence").
herein
(the
(iii) there shall be no fences or any other
permanent improvements constructed in any
part of any Lot which is part of the Common
Area.
(iv) only Picket Fences (as described in (ii)
above and shown on Exhibit C) will be
allowed on any Lot adjoining a lake, a
trail or any part of the Common Area.
(u) Unless ,otherwise required by the
Architectural Review Board, all fences must be located on
the property line and must adjoin any existing fence (s)
on adjacent Lot(s).
(v) Any fence approved by the
Review Board for any Lot which contains
Maintenance Access Easement must also
Paragraph 7 herein.
Architectural
a Landscape
comply with
(w) No antenna, satellite dishes or other device
forthetransmission or reception of radio, television or
satelli te signals or any other form of electromagnetic
radiation shall be erected, used or maintained outdoors
and above ground whether attached to a Dwelling Unit or
otherwise on any Lot without the written approval of the
Architectural Review Board.
Notwithstanding the foregoing, any such device may be
installed and maintained on any Lot without the written
approval of the Architectural Review Board if (i) it is
not visible from neighboring I"ots i'" stre~ts' or Common
Area; or" (ii) ,the Owner prior', toinstal1atioI1 'has
received the written' consent of the Owners of' all Lots
who would have views of the device from their Lots and
presented such consents to the Architectural Review
Board; or (iii) the device is virtually indistinguishable
from structures, devices or improvements such as heat
pumps, air conditioning units, barbeque grills, patio
furniture and garden equipment which are allowed by this
Declaration; or (iv) it is a satellite dish two (2) feet
or less in diameter.
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Notwithstanding anything to the contrary contained
herein or in the Articles or Bylaws, including, but not
limited to, any covenants and restrictions set forth herein
or otherwise, Declarant shall have, until the Applicable
Date ,the right to use and-maintain any Lots and Dwelling
Units owned by Declarant and other portions of the Tract
(other than individual Dwelling Units and Lots owned by
persons other than Declarant), all of such number and size
and at such locations as Declarant in its sole discretion
may determine, as Declarant may deem advisable or necessary
i~rts--sole ---discretion to--ciTcr-fn-tne-constructfon-Of------
Dwe-l-l-tng-Um.'--t-s-----a:nd-ehe sale of-I:JOt;s ana-DWelling Uni1:s or
for tJie-eemducting of any -DufJincoo--or--acrr~JTtyat:teBaan-r-----
thereto, including, but not limited to, model Dwelling
Units, storage areas, construction yards, signs,
construction offices, sales offices, management offices and
business offices. Declarant shall have the right to
relocate any or all of the same from time to time as it
desires. At no time shall any of such facilities so used
or maintained by Declarant be or become part of the Common
Area, unless so designated by _- Decl-arant, and Declarant
shall have - the right to remove the same from the Tract at
any time.
23. Expanding the Real Estate That is Sub] ect to the
Declaration. The Real Estate that is described herein as
Section 1 (in paragraph B of the recitals of this
Declaration) is the Real Estate being subj ected to this
Declaration and constitutes Section 1 of the general plan
of development of the Real Estate. The balance of the Real
Estate is the additional real estate that Declarant has the
right to subject to the terms and provisions of this
Declaration. The maximum number of Lots which may be
developed on the Real-Estate i.1? - seventy (70)-, 'including,t,he,'
Lots in Secti'oh 1." Subject 'to said limit as to the maximum-
number'ofL6fsto'l:le developed on the Real' Estate, arid the
obligations and restrictions contained in this Declaration,
Hayden Run may be expanded by Declarant to include
additional portions of the Real Estate in one or more
additional Sections by the execution and recording of one
or more amendments or supplements to this Declaration and
one or more final plats; provided, however, that no single
exercise of such right and option of expansion as to any
part or parts of the Real Estate shall preclude Declarant
c, \IIINlXlIIS\ TEM'\38581_5, coc
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from time to time further expanding Hayden Run to include
other portions of the Real Estate and such right and option
of expansion may be. exercised by Declarant from time to
time as to all or any portions of the. Real Estate so long
as such expansion is done on. or before February, 2009.
Such expansion is entirely at the discretion of Declarant
and nothing contained in this original Declaration or
otherwise shall require Declarant to expand Hayden Run
beyond Section 1 or any other portion of the Real Estate
which Declarant may voluntarily in its sole discretion,
from tim~o tim~__~ubj e:ct __~~hi_~-Peclaration by_"____
amendme-nFs or supplements to this Declaration as provided
above. Si~aneously wiEli the recoralng of the amendments
or oupplcmcnts to thiS- Declaration expanding Haydel! RUll,
Declarant shall record an additional plat encompassing the
portion of the Real Estate to be subjected to this
Declaration. To the extent allowed under applicable law,
Declarant reserves the right to add additional contiguous
real estate to the Real Estate, which additional real
estate may, in Declarant's discretion, have the use and
benefit of the Common Areas provided herein. On the filing
of a. supplement to. this Declaration, the. portion of the.
Real Estate or other real estate described in such
amendment or supplement to this Declaration shall be
governed in all respects by the provisions of this
Declaration. To the extent that there are any
inconsistencies or discrepancies between any Plat and this
Declaration or any amendment or supplements thereto, the
terms of this Declaration shall control.
24. Amendment of Declaration.
(a) Generally. Except as otherwise provided in
this Declaration, amendments to this Declaration shall
...be:.proposed;: and.adopted. in the following:manner:_
. (i)
Notice ~. Notice of the sul:>j ect ..matt:er of
any proposed amendment shall be included
in the notice of the meeting at which
the proposed amendment is to be
considered.
(ii)
Resolution. A resolution to adopt a
proposed amendment may be proposed by
the Board of Directors or Owners having
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in the aggregate at least a maj ori ty of
the votes of all Owners.
(iii) Meeting. The resolution concerning a
proposed amendment must be adopted by
the designated vote at a meeting. duly
called and held in accordance with the
provisions of the Bylaws.
(iv)
c, \WINllOWS\ TEMP\38S81_S. DOC
Adoption. Any proposed amendment to
this Declaration must be approved by a
vote of not less than seventy-five
... percent-(-7-S-%-)---i-n-the-aggrega-t.e-o.f--the- ...
votes of att-ewners, prov ided---howeve:r: ,
that prior to the Applicable Date all
proposed amendments shall require the
wri t ten consent of the Declarant. In
the event any Lot or Dwelling Unit is
subject to a first mortgage, the
Mortgagee shall be notified of the
meeting and the proposed amendment in
the same manner as an Owner if the
. Mortgagee has given . prior notice of its
mG;t;-t.gage-i-nt.e1:'es-t--t.e--t.he--Bea-l?G-e-f--p- -- - - - .._--
Directors in accordance with the
provisions hereof.
(v)
Special Amendments. No amendment to
this Declaration shall be adopted which
changes (1) the applicable share of an
Owner's liability for the Common
Expenses, or the method of determining
the same, or (2) the provisions of this
Declaration of Paragraph 19 with respect
.to ..casu~.ltyinsurance: to. be .. maintained.
:by the.. Corpo.ration, .. or (3) the.
'provisionsof paragr.aph 21.. of this..
Declaration with respect to
reconstruction or repair of the Common
Area in the event of f ire or any other
casualty or disaster, or (4) the
provisions of Paragraph 17 of this
Declaration establishing the
Architectural Review Board and providing
for its functions, or (5) the provisions
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of Paragraph 18 of this Declaration with
respect to the commencement of
assessments on any Lot, or (6) the
provisions of Paragraph 24b of this
Declaration with respect to amendments
solely by Declarant without, in each and
any of such circumstances, the unanimous
'approval of all Owners, including
Declarant so long as Declarant owns any
Lot, and of all Mortgagees whose
mortgage interests have been made known
to the Board of Directors in accordance
wLth_the_proyi-B.i_ons_of_this__Declarat-ion_.
(vi) Recording. Each amendment to the
Declaration shall be executed by the
President and Secretary of the
Corporation and shall be recorded in the
Office of the Recorder of Hamil ton
County, Indiana, and such amendment
shall not become effective until so
reco:r:ded.
(-b-)-Amendments-by-DeG-l-a-~a-nt-QI11-y-.-Ne.t.wi-t;-hst-andi-F.l.g
the foregoing or anything elsewhere contained herein or
in any other documents, the Declarant shall have and
hereby reserves the right and power acting alone and
without the consent or approval of the Owners, the
Corporation, the Board of Directors, any Mortgagees or
any other person to amend or supplement this
Declaration at any time and from time to time if such
amendment or supplement is made (a) to comply with
requirements of the Federal National Mortgage
Association, the Government National Mortgage
. . Association,. tbeFederal; Home .. Loan ,.Mortgage.
Corporation,.. the Department. .: of .. EOlising .&. Urban..
.. DevelOpment ~.. . the. Federal.. Hdusiilg . . Association, . the
Veteran's Administration or any other governmental
agency or any other public, quasi-public or private
entity which performs (or may in the future perform)
functions similar to those currently performed by such
entities, (b) to induce any of such agencies or
entities to make, purchase, sell, insure or guarantee
first mortgages covering Lots and Dwelling Units, (c)
to bring this Declaration into compliance with any
c, \WINDOWS\ TEMP\3BS81_S. COC
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statutory requirements or (d) to correct clerical,
typographical or other errors in this Declaration or
any Exhibit hereto or any supplement or amendment
thereto. . In furtherance of the foregoing, a. power
coupled with an interest is hereby reserved.and granted
to the Declarant to vote in favor of, make, or consent
to any amendments described in this Paragraph 24 on
behalf of each Owner as proxy or attorney-in-fact, as
the case may be. Each deed, mortgage, trust deed,
other evidence of obligation, or other instrument
affecting a Lot or Dwelling Unit' and the acceptance
thereof shall be deemed to be a grant and
acknowledgment of, and a consent to the reservation of,
the power to the Declarant to vote in favor of, make,
execute and record any such amendments. The right of
the Declarant to act pursuant to rights reserved or
granted under this Paragraph 24 shall terminate at such
time as the Declarant no longer holds or controls title
to any part or portion of the Tract.
(c) BUD Approval. Notwithstanding anything
elsewhere contained herein or. in any , other document, . so
long as there are Class. B . Members, HUD shall have the
right to review and. approve. amendments or changes to
the Declaration and related documents relating to the
following:
(i) Expansion of Hayden Run.
(ii) Mergers and consolidation of any Real
Estate, Common Area or the Association
relating to Hayden Run.
(ii) The mortgaging or dedication of the
Common Area.
(iv) The dissolution or amendment of the
Declaration. and, related docu.rnents~,
'Specifically, '. HUb shall' have' the
amendments to the Declaration proposed
long as the Class B membership exists.
right to 'veto .,. any
by Declarant for so
25. Acceptance and Ratification. All present and
future Owners, Mortgagees, tenants and occupants of the
Lots shall be subject to and shall comply with the
provisions of this Declaration, the Articles, and the
Bylaws incorporated herein by reference, and the rules and
C: \WIIlCOWS\TEMP\J8S81_S. DOC
48
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regulations as adopted by the Board of Directors as each
may be amended from time to time. The acceptance of a deed
of conveyance or the act of occupancy of any Lot shall
consti tute an agreement that the provisions of this
Declaration, the Articles, the Bylaws, and rules and
regulations, as each may be amended or supplemented, from
time to time, are accepted and ratified by such Owner,
tenant or occupant, and all such provisions shall be
covenants running with the land and shall be binding on any
person having at any time any interest or estate in a Lot
or the Tract as though such provisions were recited and
stipulated at length in each and every deed, conveyance,
mortgage or lease thereof. All persons, corporations,
partnerships, trusts, associations, or other legal entities
who may occupy, use, enjoy or control a Lot or Lots or any
part of the Tract in any manner shall be subject to the
Declaration, the Articles of Incorporation, the Bylaws, and
the rules and regulations applicable thereto as each may be
amended or supplemented from time to time.
26. Negligence. Each Owner shall be liable for the
expense of any maintenance, 'repair or., replacement rendered,
necessary by his negligence or by that of any member of his
family or his or their guests, employees, agents or lessees
to the extent that such expense is not covered by the
proceeds of insurance carried by the Corporation.
27. Costs and Attorneys' Fees. In any proceeding
arising because of failure of an Owner to make any paYments
required or to comply wi th any provision of this
Declaration, the Articles of Incorporation, the Bylaws, or
the rules and regulations adopted pursuant thereto as each
may be amended from time to time, the Corporation shall be
entitled to recover its reasonable attorneys' fees incurred
in ,connection with such .default or failure."
'28." "Waiver. No 'Owner may exempt himself' from
liability for his contribution toward the Common Expenses
by waiver of the use or enjoyment of any of the Common Area
or Limited Common Area or by abandonment of his Lot.
29. Severability Clause. The invalidity of any
covenant, restriction, condition, limitation or other
provision of this Declaration, the Articles or the Bylaws,
shall not impair or affect in any manner the validity,
C, \HINCOIIS\TEMP\38581_5. DOC
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enforceability or effect of the rest of this Declaration,
the Articles, or the Bylaws, and each shall be enforced to
the greatest extent permitted by law.
30. Pronouns. Any. reference to the masculine,
feminine or neuter gender herein shall, unless the context
clearly requires to the contrary, be deemed to refer to and
include all genders. And the singular shall include and
refer to the plural and vice versa as appropriate.
31. Interpretation. The captions and titles of the
---vanous articies, sections, subsections, paragraphs and
sub-paragraphs of this DeclaraElon are ins~rted here~n tor
C.:lOC .:lnd con"y.enience of reference only and shall not be
used as an aid in interpreting or construing this
Declaration or any provision hereof.
32. The Plat. The Plat of Hayden Run Section 1 is
incorporated into this Declaration by reference and has
been filed in the office of the Recorder of Hamilton.
County, Indiana, of even date herewith.
33.
deed to
City of
proposal
Annexation. Each Owner, by the acceptance of a
a Lot, consents to annexation of the Tract to the
Carmel and agrees not to remonstrate against any
for such annexation.
34. Collector Road System. Declarant hereby advises
all interested persons and all Owners that the north-south
street which runs through Hayden Run has been designed and
is intended to be part of a collector road system which
will connect 126th Street to and through Hayden Run and to
other neighborhoods north of Hayden Run to 141 at Street.
Each Owner, by the acceptance of a deed to a Lot,
. acknowledges-such fact- and: 'agrees -not-to challenge or
inhibit such use of:this -road. - ..
35. Future Construction of Recreational Facilities.
Declarant intends to purchase certain additional real
estate adjacent to and/or in the same general area as the
Real Estate (the UAdditional Real Estate"). Declarant
intends to develop such Addi tional Real Estate as
residential subdivisions. Declarant further intends to
construct on a portion of the Additional Real Estate
certain recreational facilities including, but not limited
,.
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to, a pool and a clubhouse (the "Recreational Facilities").
To be included as part of the annual budget and the Regular
Assessment will be an amount for Recreational Facilities
Expenses ("Recreational Facilities Expenses") .
Recreational Facilities Expenses are the expenses
associated with the upkeep, maintenance, repair and
replacement of the Recreational Facilities. The
Recreational Facilities Expenses will be divided equally
among all Lots in Hayden Run and all lots in the
residential subdivisions developed by Declarant on the
Addi tional Real Estate ~hich _~ave~the _ r~g~~_to ~s~_th~____
Recreational Facilities. Upon the construction of the
Recreational Facilities, the Owners of Lots in Hayden Run
will have tILe J::igbt to use flllCh RecLt:::d.L.i.uud.1 FcH..:.i.I.i.Llt:::1::>
subject to the reasonable and uniform rules and regulations
of the Declarant, the Corporation and/or the corporation of
the residential subdivision in which the Recreational
Facilities are located.
The Corporation shall include as part of the Regular
Assessment applicable to the Lots in Hayden Run, the
Recreational Facilities Expenses applicable to each Lot.
Upon collection of. the Regular Assessment, the' Corporation
shall remit the amount applicable to the Recreational
Facilities Expenses to the corporation for the residential
subdivision in which the Recreational Facilities are
located. However, the inclusion of the Recreational
Facilities Expenses in the Regular Assessment and the
obligation of the Corporation to remit such amount shall
not in any way make the Corporation liable for the
Recreational Facilities Expenses if such amount is not paid
by an Owner.
The acquisition and development of the Additional Real
Estate ,and t'he ,construction ,of; the Recreational Facilities
, . ,is' entirely at ,'thE: discret:ion of. Declarant andno~hing-
. conti:tiried' in: i:hisDeclarationor otherwise' shall" require
Declarant to purchase and/or develop any portion of the
Additional Real Estate and/or the Recreational Facilities.
IN WITNESS WHEREOF, the undersigned has caused this
Declaration to be executed the day and year first above
written.
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CENTEX HOMES, a Nevada general
partnership
By: Cent ex Real Estate Corporation
Its managing general partner
By:
Printed:
Title:
Timothy K. McMahon
Division President
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STATE OF INDIANA
)SS:
COUNTY OF MARION
Before me, a Notary Public in and for said County and
State; personally appeared, Timothy K. McMahon, by me known
and by me known to be the division president of Centex Real
Estate Corporation, the managing general partner of Centex
Homes, a Nevada general partnership, who acknowledged the
execution of the foregoing "Declaration _ of Covenants and
Restrictions of Hayden Run Property Ownership" on behalf of
said Corporation and-general partnership.
Witness my hand and Notarial Seal this ___day of
2002.
Notary Public
(Printed Signature)
My Commission Expires:
-.~.-My-Gount-y--ef-Re'siaenee-:----- .
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This instrument prepared by Tammy K. Haney,
Attorney-at-Law, Bose McKinney & Evans LLP, 600 East 96th
Street, Suite 500, Indianapolis, Indiana 46240.
EXHIBIT "A"
REAL ESTATE
Part of the North Half of the Southwest Quarter cind, part of the North Half of the
South Half of the Southwest Quarter of Section 29, Township 18 North, Range 3 East
'In Hamnton County, Indiana, more particularly described as follows:
CommencIng at the Northwest ,comer of the Southwest Quarter of, SectIon 29" TownshIp
18 North, Range '3, East thence'North 89"degrees'35 mInutes 33 ,seconds East'
(assumed bearIng) on and along the North line of said Southwest Quarter 1555.47 feet
to the POINT OF BEGINNING of thIs descrlpt!on: thence continuIng North 89 degrees ~5
minutes 33 seconds East on and along sold North line 1,099.13 feet to the East line
thereof: thence South 00 degrees 00 minutes 34 seconds West on and along said East
line' 1981.12 feet to the South line of the North Half of the South Half of sold
Southwest Quarter Section; thence South 89 degrees 47 minutes 09 seconds West on
and along saId South line 1100.00 feet: thence North 00 degrees 00 minutes 59,
seconds East 'parallel with the aforesaId' East line 1977.41 feet to the place of
begInning, C?ontalnlng 49.960 acres, more or less, subject to all legal highways,
rights-of-ways, easements, and restrictions of record~
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EXHIBIT "B"
SECTION ONE
..
HAWEN RUN, '
SECnON' 1
I, the undersigned, Registered Land Surveyor hereby certify that the Included plat correctly represents a
subdivision of part of the Southwest Quarter of Section 29, "Township 18 North, Range 3 East, H.amllton
County, Indiana, more' particularly described as follows:" '
Commencing at the Northwest comer of the Southwest Quarter, thence North, 89 degrees 35 minutes
32. seconds East (assumed bearing) 1,554.58 feet to the POINT OF BEGINNING; thence North 89
degrees 35 minutes 32 seconds East along the North line of sal~ Half Quarter Section 1,100.02 feet to
the Northeast comer of said Quarter Section; thence South 00 degrees 00 minutes 34 seconds 'West '
along the EClst Ilne of said 'Half Quarter Section 1,510.98 feet; thence North B9 degrees 59 minutes 34
seconds West 100.00 feet: thence North B9 degrees 59 minutes 34 seconds West 345.37 feet: thence
North 30 degrees' 45 minutes 25 s,econds East,' 38.75 ,feet: thence North, 59 degrees ,51' minutes' 57
'seconds West, 205.00 feet too point on a cUrve concave westerly,' the radius point of said curve being
North 59 degrees 51 minutes 57 seconds' West 265.00 feet from said point: thence northerly along' '
said curve 72.14 feet to the point of tangency of said curve, said point being South 75 degrees 27
minutes 50 seconds East 265.00 feet from the, radius point of said curve; thence North 75 d~grees
27 minutes 50 seconds West 129.08 feet: thence North 07 degrees 52 minutes 11 seconds East
169.08 feet; thence North 81 degrees 38 minutes 57 seconds West 192.71 feet: thence North" 24
degrees 55 minutes 09 seconds West 92.07 feet: thence North 49 degrees 33 minutes 28 seconds
West 87.64 feet: thence North 78 degrees 12 minutes 20 seconds West 94.48 feet: thence South 73
degrees 08 minutes 47 seconds West 94.48 feet; thence South 44 degrees 29 minutes 55 seconds
West 127.87 feet: thence North 00 degrees 00, minutes 34 seconds East parallel wIth the aforesaid
East line 749.48 feet to the place of beginning. Containing 24.967 acres,. more or less, subject to all
legal highways, rlghts-of-ways, easements, anct restrictions of record.
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EXHIBIT "e"
FENCE REQUIREMENTS
u
Cedar r~'cd
'. G6tnJe T~p .
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