BOOK 3298 PAGE 924
ADAMS, DORTON & BLAND
P.O.
AND RESTRICTIONS FOR PINE RIDGE
WAKE COUNTY TOWNHOMES, SECTION ONE, RECORDED IN
BOOK OF MAPS 1984, PAGE 763, WAKE
COUNTY REGISTRY
THIS DECLARATION, made on the date hereinafter set forth by Lake Ridge
Associates, a
WITNESSETH: THAT WHEREAS, the Declarant is the owner of certain property
located in the City of Raleigh, Wake county, North Carolina, consisting of
approximately 3 acres which is more particularly described as Pine Ridge
Townhomes, Section One, as the same is shown on the map recorded in Book of
Maps 1984, Page 763, Wake County Registry; and
WHEREAS, Declarant will convey the said properties, subject to certain
protective covenants, conditions, restrictions, reservations, liens and charges
as hereinafter set forth;
NOW, THEREFORE, Declarant hereby declares that all of the properties
described above shall be held, sold and conveyed subject to the following
easements, restrictions, covenants and conditions, all of which are for the
purpose of enhancing and protecting the value, desirability, and attractiveness
of the real property. These easements, covenants, restrictions, and conditions
shall run with the real property and shall be binding on all parties having or
acquiring any right, title or interest in the described properties or any part
thereof, and shall inure to the benefit of each owner thereof.
ARTICLE I
DEFINITIONS
Section 1. “Association” shall mean
and refer to
Section 2. “Properties” shall mean
and refer to that certain real property hereinbefore described, and such
additions thereto as may hereafter be brought within the jurisdiction of the
Association.
BOOK 3298 PAGE 925
Section 3. “Common Area” shall mean
all real property and amenities located thereon owned by the Association for the
common use and enjoyment of members or designated classes of members of the
Association, including Limited Common Area, all private streets, all water
lines outside city streets (except within townhome lots) which serve Pine Ridge
Townhomes and all sewer lines outside of city streets or city easements (except
within townhome lots) which serve Pine Ridge Townhomes.
Section 4. “Limited Common Area”
shall mean those portions of the Common Area that serve only a limited number
of lots and which may include, but specifically is not limited to, driveways
and walkways, parking lots or areas serving only specified lots, and such other
similar areas as may be designated by the Association.
Section 5. “
Section 6. “Lot in Use” shall mean
and refer to any lot on which a dwelling unit has been fully constructed and
either made ready for occupancy as a dwelling unit, including, without
limitation, completion of the installation of final floor covering, interior
paint and wallpaper and all appliances or for which a certificate of occupancy
has been issued by the City of Raleigh. In addition to the foregoing, a Lot may
become a Lot in Use by contractual agreement between the Declarant and the
Owner of such
Section 7. “Member” shall mean and
refer to every person or entity who holds membership in the Association.
Section 8. “Owner” shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any Lot which is a part of the Properties, including contract sellers, but excluding those having such interest merely as security for the performance of an obligation.
BOOK 3298 PAGE 926
Section 9. “Declarant” shall mean and
refer to Lake Ridge Associates, a
Section 10. “Person” shall mean
and refer to any individual, corporation, partnership, association, trustee, or
other legal entity.
Section 11. “Building” shall mean and
refer to a multi—unit structure containing townhomes, constructed or erected on
the Property.
Section 12. “Board of Directors” or
“Board” means those persons elected or appointed and acting collectively as the
Directors of the Association.
Section 13. ‘Common Expenses” shall
mean and include:
(a)
All sums lawfully assessed by the Association against its members;
(b)
Expenses for maintenance of the townhomes and private streets as
provided in this Declaration;
(c)
Expenses of administration, maintenance, repair, or replacement of the
Common Areas and Limited Common Areas;
(d)
Expenses declared to be common expenses by the provisions of this
Declaration or the Bylaws;
(e)
Hazard, liability, or such other insurance premiums as the Declaration
or the Bylaws may require the Association to purchase;
(f)
Ad valorem taxes and public assessment charges lawfully levied against
common areas;
(g)
Expenses agreed by the members to be common expenses of the
Association; and
(h)
Unpaid assessments resulting from the purchase of a townhome at a
foreclosure sale (such assessment shall be collectible from all members of the
Association, including the purchaser at the foreclosure sale, his successors
and assigns).
BOOK 3298 PAGE 927
Section 14. “Townhome” shall mean and
refer to a dwelling or place of residence constructed upon a
Section 15. “Amenities” shall mean the
facilities constructed, erected or installed on the Common Areas for the use,
benefit and enjoyment of Members.
ARTICLE II
ANNEXATION OF ADDITIONAL
PROPERTIES
Section 1. Annexation of additional
Property shall require the assent of two—thirds (2/3) of the Class A membership
and two—thirds (2/3) of the Class B membership, if any.
Section 2. If within 6 years of the
date of incorporation of this Association, the Declarant should develop
additional lands within the boundaries of the following tract, such additional
lands may be annexed to said Properties without the assent of the Class A
members:
BEING all of the land
described on Exhibit A
attached hereto and made a
part hereof.
If all of the tract shown on
said map is included in Section One of Pine Ridge Townhomes, the Declarant
shall not annex additional lands without the assent of Class A members.
The total number of lots
within the Properties herein described and the area subsequently annexed shall
not exceed 105 unless approved by Class A members as provided in Section 1 of
this Article.
Section 3. Annexation of additional
Properties shall be accomplished by recording in the Wake County Registry a
Declaration of Annexation, duly executed by the Declarant if the Declarant has
the right to annex pursuant to Section 2 above (and by the Association if
pursuant to Section 1. above), describing the lands annexed and incorporating
the provisions of this Declaration, either by reference or by fully setting out
said provisions of this Declaration. The additional lands shall be deemed
annexed to the Properties on the date of recordation of
BOOK 3298 PAGE 928
the Declaration of
Annexation, and in the case of an annexation by the Declarant, no action or
consent on the part of the Association or any other person or entity shall be
necessary to accomplish the annexation except the City of Raleigh if required
by its ordinances.
Section 4. Subsequent to recordation
of the Declaration of Annexation by the Declarant, the Declarant shall deliver
to the Association one or more deeds conveying any Common Area within the lands
annexed as such Common Area is developed, as set forth in Article V, Sections 3
and 4 of this Declaration.
ARTICLE III
MEMBERSHIP
Every person or entity who
is a record owner of a fee or undivided fee interest in any
ARTICLE IV
VOTING RIGHTS
Section 1. The Association shall have
two classes of voting membership:
Class A. Class A members shall be
all those Owners as defined in Article III with the exception of the Declarant.
Class A members shall be entitled to one vote for each
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shall more than one vote be
cast with respect to any Lot and no fractional vote may be cast with respect to
any
Class
B. The
Class B member shall be the Declarant. The Class B member shall be entitled to
three (3) votes for each Lot in which he holds the interest required for
membership by Article III, provided, that the Class B membership
shall cease and be converted to Class A membership on the happening of either
of the following events, whichever occurs first:
(a)
when the total votes outstanding in Class A membership equal the total
votes outstanding in Class B membership, but provided that the Class B
membership shall be reinstated if thereafter and before the time stated in
subparagraph (b) below, such additional lands are annexed to the Properties
without the assent of Class A members on account of the development of such
additional lands by the Declarant, all as provided for in Article II, Section 2
above, or
(b)
on December 31, 1990.
(c)
Section 2. The right of any Member to vote may be suspended by the Board of
Directors for just cause pursuant to its rules and regulations.
ARTICLE V
PROPERTY RIGHTS
Section
1. Members’
Easements of Enjoyment. Every member shall have a right and easement of
enjoyment in and to the Common Area and such easement shall be appurtenant to
and shall pass with the right to every
(a) The right of the Association, in accordance
with its Articles and Bylaws and with the assent of members entitled to cast
two—thirds (2/3) of the votes of the entire Class A membership and two—thirds
(2/3) of the entire Class B membership, if any, to borrow money for the purpose
of improving the Common Area and facilities and in aid thereof to mortgage said
property unless prohibited by law, and the rights of such mortgagee in said
properties shall be subordinate to the rights of the homeowners hereunder;
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(b) The right of the Association to dedicate
or transfer all, or any part of the Common Area to any public agency,
authority, or utility for such purposes and subject to such conditions as may
be agreed to by the Members; provided, however, that no conveyance of Limited Common
Area shall deprive any Member of the full use thereof. No such dedication or
transfer shall be effective unless an instrument signed by Members entitled to
cast two—thirds (2/3) of the votes of the Class A membership and two—thirds
(2/3) of the votes of the Class B membership, if any, has been recorded,
agreeing to such dedication or transfer, and unless written notice of the
proposed action is sent to every Member not less than 30 days nor more than 60
days in advance; and
(C) The
right of the individual members to the exclusive use of parking spaces as
provided in this Article.
Section 2. Delegation of Use. Any Member may
delegate, in accordance with the Bylaws, his right of enjoyment to the Common
Area and facilities to the Members of his family, his tenants, or contract
purchasers who reside on the Property.
Section 3. Title to the Common Area. The
Declarant hereby covenants for itself, its heirs and assigns, that it will
convey fee simple title to the Common Area shown on the aforementioned map recorded
in Book of Maps 1984, page 763, Wake
County Registry, to the Association, free and clear of all encumbrances and
liens, prior to the conveyance of the first Lot, except utility and drainage
easements and easements to governmental authorities, Similarly, the Declarant
will convey to the Association Common Areas which are parts of Pine Ridge
Townhomes as those portions are annexed in the future until all Common Areas,
as shown on plans approved by the City of Raleigh, have been conveyed to the
Association.
Section 4. parking Rights. Ownership of each
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PAGE 931
right of ingress and egress
in and upon said parking areas. The Association may permanently assign one
vehicular parking space for each dwelling, such space to be as near the
dwelling to which it is assigned as is reasonably possible. The Association may
regulate the parking of boats, trailers and other such items on the Common
Area. No boats, trailers, campers, motor homes, trucks or tractors owned by a
member, his guests, or family members shall be parked within the right of way
of any public or private street in or adjacent to Pine Ridge Townhomes; nor
shall any of these be regularly parked on the Properties except in areas
designated by the Association. The Association shall from time to time adopt
appropriate rules for the temporary parking of these items on the Properties.
Section 5. TV Antennas. The Association may provide one or more
central television antennas or satellite dishes for the convenience of the
members and the cost of this may be included in annual or special assessments.
The Association may regulate or prohibit the erection of television antennas or
placement of satellite dishes on individual lots.
ARTICLE VI
COVENANT FOR ASSESSMENTS
Section 1. Creation of the Lien and Personal Obligation of Assessments.
The Declarant, for each Lot in Use owned within the Property upon which a
townhome has been constructed, hereby covenants, and every other owner of any
Lot by acceptance of a deed therefor, whether or not it shall be so
expressed in any such deed or other conveyance, is deemed to covenant
and agree to pay to the Association:
(a) Annual assessments or charges which are common expenses;
(b) Special assessments for capital improvements; and
(c) Special assessments for
purchase and reconstruction of townhomes as hereinafter provided.
Notwithstanding any
provision herein to the contrary, the assessment for each lot which is not a
Lot in Use shall be twenty—five percent (25%) of the assessment of a Lot in
Use.
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Such assessments shall be
fixed, established, and collected from time to time as hereinafter provided.
The annual and special
assessments, together with such interest thereon and costs of collection
thereof, as hereinafter provided, shall be a charge on the land and shall be a
continuing lien upon the lot and improvements against which each such
assessment is made. Each such assessment, together with such interest and costs
and reasonable attorney’s fees, shall also be the personal obligation of the
person who was the owner of the
Section 2. Purpose of Assessments. The assessments levied by the
Association shall be used exclusively for promoting the recreation, health,
safety, and welfare of the residents and the Property; enforcing these
covenants and the rules of the Association; improving and maintaining the
Property and the townhomes situated thereon; paying all common expenses; and
providing the services and facilities for purposes of and related to the use
and enjoyment of the common area and facilities.
Section 3. Amount of Assessment.
(a) Initial Assessment.
To and including December 31, 1984, the initial annual assessment shall not be
in excess of Four Hundred Eighty Dollars ($480.00) per
(b) Increase by Association. From and after December 31,
1984, the annual assessment effective for any year may be increased from and
after January 1 of the succeeding year by the Board of Directors, without a
vote of the membership, by a percentage which may not exceed the greater of
five (5%) percent or the percentage increase reflected in the U.S. City
Average, Consumer Price Index — United States and selected areas for
urban
BOOK 3298 PAGE 933
wage earners and clerical
workers, all items most recent index and percentage changes from selected dates
(published by the U. S. Bureau of
Labor Statistics, Washington, D. C.), or such other Index as may succeed the
Consumer Price Index, for the twelve—month period ending the immediately
preceding October 1.
(C) Increase by Members.
From and after December 31, 1984, the annual assessment may be increased by a
percentage greater than permitted by this Article by an affirmative vote of
two—thirds (2/3) of each class of members who are voting in person or by proxy,
at a meeting duly called for such purpose, written notice of which, setting
forth the purpose of the meeting, shall be sent to all members not less than
thirty (30) days nor more than sixty (60) days in advance of the meeting. The
limitations herein set forth shall not apply to any increase in assessments
undertaken as an incident to a merger or consolidation in which the Association
is authorized to participate under its Articles of Incorporation.
(D) Criteria for
Establishing Annual Assessment. In establishing the annual assessment for
any assessment year, the Board of Directors shall consider all current costs
and expenses of the Association, any accrued debts, and reserves for future
needs, but it may not fix the annual assessment in an amount in excess of five
(5%) percent or the sums derived by application of the Consumer Price Index
formula provided in Subsection (b) without the consent of members required by
Subsection (c) of this Section 3.
(E) The Board of Directors
may decrease the annual assessment from time to time if in its opinion such
decrease is prudent.
Section 4. Special Assessments for Capital Improvements. In addition
to the annual assessments authorized above, the Association may levy, many
assessment year, a special assessment applicable to that year only for the
purpose of defraying, in whole or in part, the costs of construction or
reconstruction, unexpected repair, or replacement of a described
BOOK 3298 PAGE 934
capital improvement upon the
common area, including the necessary fixtures and personal property related
thereto, provided that any such assessment shall have the assent of two—thirds
(2/3) of the votes of each class of members who are voting in person or by proxy
at a meeting duly called for this purpose, written notice of which, setting
forth the purpose of the meeting, shall be sent to all members not less than
thirty (30) days nor more than sixty (60) days in advance of the meeting. The
amount of the proposed assessment need not be stated.
Section 5. Special Assessments for the purchase and Reconstruction of
Townhomes. In the event that any townhome located on the Property is
substantially destroyed by fire or other hazard, the owner shall give written
notice to the Association within thirty (30) days following such destruction of
whether he intends to repair or reconstruct the townhome; and if the owner
fails to give such notice to the Association, it shall be conclusively
considered, for purposes of this Section, as notice that he does not intend to
repair or reconstruct the townhome. For purposes of this section “substantially
destroyed” shall mean that the costs of replacement or repair equals at least
fifty percent (50%) of the appraised value of the improvements on the lot
before they were damaged. If the owner elects not to repair or reconstruct the
townhome, the Association shall have the first right and option to purchase
such unit in the manner hereinafter provided. The purchase option shall be
effective for a period of ninety (90) days following notice of the owner’s
election not to repair or reconstruct.
(a) Exercise of Option. The Board of Directors shall appoint
a committee, or shall designate an existing committee of the Association, to
determine whether failure to reconstruct the damaged townhome will result in
substantial pecuniary injury to the Association or diminution in value of the
remaining Property. The committee may employ such persons, including, but not
limited to, real estate appraisers, realtors, architects, and engineers, as are
reasonably necessary to make its determination, and shall
BOOK 3298 PAGE 935
report its conclusions, with
supporting data, in writing to the Board within fifteen (15) days. The report
shall set forth such matters as the Board and committee deem pertinent, but
shall contain estimates of the pecuniary injury and diminution in value along
with an estimate of the cost of purchase and reconstruction of the townhome.
If the Board of Directors
determines that it would be advantageous to the Association and/or to the
remaining Property to purchase and reconstruct the townhome, it shall call a
special meeting by giving written notice thereof, setting forth the purpose of
the meeting, to all members within seven (7) days following submission of the
committee report. The special meeting of members shall be held not less than
seven (7) days nor more than fifteen (15) days following notice to members.
Upon an affirmative vote of at least sixty—six and two—thirds percent (66—2/3%)
of each class of membership present and voting, the Board will be authorized to
purchase and reconstruct the townhome and to assess all lots equally for all
costs and expenses arising out of the purchase and repair or reconstruction of
the townhome. The Board may require that the assessment be paid in a lump sum,
in installments during an assessment year, or over a period of two (2) or more
assessment years, as the Board, in its discretion, shall determine to be
appropriate.
Such an assessment shall be
in addition to, and not in lieu of, the annual assessments provided for in
Section 3 and the special assessments provided for in Section 4 of this
Article.
(b) Determination of
Value. The owner of the townhome shall convey marketable title thereto to
the Association upon payment to the owner by the Association of the fair market
value of the lot and townhome in its damaged condition. Fair market value shall
be determined in any manner agreed upon by the Association and the owner.. It
they cannot otherwise agree on a fair market value of method of determining
fair market value, each shall appoint an appraiser and those two appraisers
shall appoint a third appraiser. The fair market value as determined
BOOK 3298 PAGE 936
by any two of these three appraisers
shall be final and binding on all parties. Each party shall pay the fee of the
appraiser selected by it or him, and each party shall pay one—half (1/2) of the
fee of the third appraiser. If the Board and the owner agree upon a single
appraiser, each shall pay one—half (1/2) the cost of the appraisal.
(c) Application of
Insurance proceeds. The owner of the townhome, prior to conveyance to the
Association, shall apply or cause to be applied so much of the proceeds of any
hazard insurance paid by reason of the damage or destruction of the townhome as
shall be necessary to pay all liens, mortgages, deeds of trust, taxes and
encumbrances upon the lot so that the fee simple marketable title thereto may
be conveyed free and clear of all liens and encumbrances. If the insurance
proceeds are not sufficient to pay all liens, encumbrances, and obligations
upon the lot, the purchase price shall be reduced by an amount adequate to pay
any such deficiency.
(d) Failure to Exercise
Option. If the Association does not exercise the purchase option herein
provided for, the owner may retain the lot or may transfer or convey it, upon
such terms and conditions as he may elect, to any person, to be used solely as
a site of an attached, single—family townhome unit. The reconstructed or
repaired townhome unit shall be substantially identical to the destroyed
townhome unit, unless a change shall be approved by the Board, and shall be
constructed in conformity with plans submitted to and approved by the Board
prior to construction.
(e) Retention by Owner.
If a townhome is not habitable by reason of damage, and the owner gives notice
of his election to repair or reconstruct the townhome, the obligation of the
owner to pay annual assessment installments shall not be suspended. In the event
a townhome is damaged or destroyed, or the owner does not begin repair or
reconstruction within thirty (30) days following the damage or destruction, he
shall remove or cause to be removed, at his expense, all debris from the lot,
so that it
BOOK 3298 PAGE 937
shall be placed in a neat,
clean, and safe condition and if he fails to do so, the Association may cause
the debris to be removed, and the cost of removal shall constitute a lien upon
the townhome and its lot until paid by the owner, unless the lot is thereafter
acquired by the Association.
(f) Reconstruction by the Association. Upon acquisition of
title to the townhome, the Association is authorized to arrange such financing
and execute such notes, mortgages, deeds of trust, and other instruments, to
enter into such contracts, and to do and perform such other matters and things
as are necessary to accomplish the reconstruction of the townhome; provided,
however, that only that townhome which is to be reconstructed shall
stand as security for any liens, mortgages, or obligations arising out of the
purchase or reconstruction of the townhome, and no other portion of the
Property, including the limited common area and facilities, shall be pledged,
hypothecated, mortgaged, deeded in trust, or otherwise given as security for
any obligations arising out of said purchase or reconstruction, and no member
shall be required to become personally obligated therefor.
The Association shall hold
title to the lot and improvements for the benefit of all members. The Board may
lease or sell the lot and improvements upon such terms and conditions as it, in
its discretion, deems most advantageous to the members. The lease rental shall
be applied in the following order of priority: (1) to the payment of taxes,
assessments, liens, encumbrances, and obligations on or secured by the lot; (2)
to the maintenance, upkeep, and repair of the townhome; (3) to payment or
repayment to the members, pro rata, of the special assessment, if any, for
purchase and reconstruction of the townhome; and (4) to the general expenses of
the Association. In the event the lot is sold, the purchase price shall be
applied in the following order of priority: (1) to the payment of taxes,
assessments, liens, encumbrances, and obligations on or secured by the lot; (2)
to payment or repayment to the members, pro rata, of the special assessment, if
any, for purchase and reconstruction of the
BOOK 3298 PAGE 938
townhome; and (3) to the
general expenses of the Association. Any payment or repayment to members of the
special assessment may be in cash or may be applied to the annual assessment
due or to become due.
(g) Application of
Declaration and Bylaws. Any townhome (including the Lot on which it was
constructed) which is destroyed and not subsequently restored or reconstructed
and any townhome which has been destroyed in whole or in part, by fire or other
casualty, and is subsequently restored or reconstructed, shall be subject to
the provisions of this Declaration and to the Bylaws of the Association.
Section 6. Uniform Rate of Assessment. Both annual and special
assessments must be fixed at a uniform rate for all lots and lots in use, on a
per lot and per lot in use basis except as set forth in Section 12 of this
Article. Assessments may be collected on a quarterly or monthly basis.
Section 7. Quorum for any Action Authorized Under
Sections 3, 4, and 5. At the first meeting called, as provided in Section 3, 4, and 5 of
this Article, the presence at the meeting of members or of proxies entitled to
cast sixty percent (60%) of all the votes of each class of membership shall
constitute a quorum. If the required quorum is not forthcoming at any meeting,
subsequent meetings may be called, subject to the notice requirement set forth
in Sections 3, 4, and 5, and the required quorum at any such subsequent meeting
shall be one—half (1/2) of the required quorum at the next preceding meeting.
No such subsequent meeting shall be held more than sixty (60) days following
the next preceding meeting.
Section 8. Date of Commencement of Annual Assessments: Due Dates. The annual assessments
provided herein for Lots in Use, and Lots shall be paid in equal monthly
installments and the payment of such shall commence as to each lot in use and
Lot on the first day of the first month following the date that all common area
adjacent to the lot in use or lot in question has been conveyed to the
Association. Notwithstanding the foregoing, the Declarant may, at its election,
postpone in whole or in part,
BOOK 3298 PAGE 939
the date on which any
assessment shall commence provided that the Declarant maintains the Common
Areas for which no assessment is being collected during the period of such
postponement. The first annual assessment shall be adjusted according to the
number of months remaining in the calendar year. The Board of Directors shall
fix the amount of the annual assessment against each lot at least thirty (30)
days in advance of each annual assessment period. Written notice of the annual
assessment shall be sent to every owner subject thereto. The due dates shall be
established by the Board of Directors. The Association, upon demand at any
time, shall furnish a certificate in writing signed by an officer of the
Association setting forth whether the assessments on a specified lot have been
paid. A properly executed certificate of the Association as to the status of
assessments on a lot is binding upon the Association as of the date of its
issuance.
Section 9. Effect of Nonpayment of Assessments: Remedies of the Association. Any assessments
or portion thereof which are not paid when due shall be delinquent. If the
assessment or portion thereof is not paid within thirty (30) days after the due
date, the same shall bear interest from the date of delinquency at the highest
rate then permitted by the regulations of the Federal Housing Administration
(FHA) and the regulations of the Veterans Administration (VA); provided,
however, that if highest rate permitted by FHA and VA are not the same, the
interest rate shall be the lower of rates permitted by these two agencies. The
Association may bring an action against the owner personally obligated to pay
the same, and interest, costs, late payment charges and reasonable attorney’s
fees of any such action shall be added to the amount of such assessment. If any
law permits the filing of a lien and the foreclosure of such lien, or other
similar action, as a method of enforcement of the Association’s right to
collect assessments, the Association may use such remedy. No owner may waive or
otherwise escape liability for the assessment provided for herein by nonuse of
the common area or abandonment of his lot.
BOOK 3298 PAGE 940
Section 10. Subordination of the Lien to Mortgages. The lien of the
assessments provided for herein on any lot shall be subordinate to the lien of
any first mortgage on such lot. The sale of a lot to a bona fide purchaser for
value and the sale or transfer of any lot pursuant to mortgage foreclosure or
any proceeding in lieu thereof, shall extinguish the lien of such assessments
as to payments which became due prior to such sales or transfer. No sale or
transfer shall relieve such lot from liability for any assessments thereafter
becoming due or from the lien thereof.
Section 11. Exempt Property. Any portion of the Property dedicated to,
and accepted by, a local public authority and all properties owned by a
charitable or non-profit organization exempt from taxation by the laws of the
State of
Section 12. Different Assessments Allowed For Lots 1—14. The Declarant’s
plan of development contemplates the development and construction of three
noncontiguous areas of townhomes as follows:
(a) Those townhomes
south of
(b) Those townhomes located
in the northernmost section of the property described in Exhibit A and being
adjacent to Roller Court, (Lots 107—149); and
(c) Those townhomes located
in the easternmost section of the property described in Exhibit A (east of Lake
Ridge Drive) and adjacent to Bona Court, (Lots 31—78).
Lots 1 through 14 will have
private parking pads directly connected to
BOOK 3298 PAGE 941
through 14 will probably be
substantially less than the amount per unit needed to maintain the private
areas and streets of the remaining townhomes. The conventional procedure for
providing for the special needs of a different group of townhomes would be to
establish a separate homeowners association for that group. However, due to the
small size of this section, this would not be an efficient use of management
resources. Therefore, the Board of Directors, in determining the annual
assessments for Lots 1 through 14, shall take into account the lesser amount
required by Lots 1 through 14 for private parking area maintenance if such
maintenance is determined to be substantially less than that required for the
other townhomes. “Substantially less” shall mean that there is a difference of
at least $3.00 per unit per month in the amount required for maintenance. It is
understood that notwithstanding anything to the contrary contained in this
Declaration, that this section may result in a lower annual
BOOK 3298 PAGE 942
assessment being levied
against the
ARTICLE VII
EXTERIOR MAINTENANCE
In addition to maintenance
of the limited common area, the Association shall provide maintenance of Common
Areas (and all amenities and structures located therein, including but not
limited to private drives) and exterior maintenance upon each townhome which is
subject to assessment hereunder, as follows:
Stain and/or paint all
exteriors, replace roofs, replace, repair and care for walks, trees, shrubs,
grass and other such exterior improvements, and clean and repair gutters. Such
exterior maintenance shall not include glass surfaces.
Any owner who fences or
encloses or screens by plants or structures the rear portion of his lot (which
fence, enclosure and screen shall require the prior approval of the
Association), may plant trees, shrubs, flowers, and grass in the fenced or
enclosed portion as he elects and shall maintain the fenced or enclosed portion
at his own expense, provided that such maintenance does not hinder the
Association in performing its maintenance duties as to the townhome, the
remaining yard spaces, or the limited common area. No such maintenance by an
owner shall reduce the assessment payable by him to the Association. If, in the
opinion of the Association, any such owner fails to maintain his rear yard in a
neat and orderly manner, the Association may revoke the owner’s maintenance
rights for a period not to exceed one year and the Association shall perform
maintenance during the revocation period. The owner shall not plant any
vegetation (specifically including, but not limited to flowers, trees, shrubs,
vegetables, vines and moss) in front of his townhome except with the prior
written approval of the Association.
In the event that the need
for maintenance or repair of a lot or the improvements thereon is caused
through the willful or negligent acts of its owner, or his family, tenants,
contract
BOOK 3298
PAGE 943
purchasers, guests, or invitees,
or is caused by fire, lightning, windstorm, hail, explosion, riot, riot
attending a strike, civil commotion, aircraft, vehicles, or smoke, as the
foregoing are defined and explained in North Carolina standard fire and
extended coverage insurance policies, or for the purpose of correcting,
repairing or alleviating any emergency condition provided for in Article XI,
Section 5, (but only if such would normally be an expense of the lot owner),
the cost of such maintenance, replacement, or repairs shall be added to and
become a part of the assessment to which such lot is subject.
ARTICLE VIII
PARTY WALLS
Section 1. General Rules of Law to
Apply. Each wall which is built as a part of the original construction of
the townhomes upon the property and placed on the dividing line between the
lots shall constitute a party wall, and, to the extent not inconsistent with
the provisions of this Article, the general rules of law regarding party walls
and liability for property damage due to negligence or willful acts or
omissions shall apply thereto.
Section 2. Sharing of Repair and
Maintenance. The cost of reasonable repair and maintenance of a party wall
shall be shared by the owners who make use of the wall in proportion to such
use.
Section 3. Destruction by Fire or
Other Casualty. If a party wall is destroyed or damaged by fire or other
casualty any owner who has used the wall may restore it, and if the other
owners thereafter make use of the wall, they shall contribute to the cost of
restoration thereof in proportion to such use, without prejudice, however, to
the right of any such owner to call for a larger contribution from the others
under any rule of law regarding liability for negligent or willful acts or
omissions.
Section 4. Weatherproofing.
Notwithstanding any other provision of this Article, an owner who by his
negligent or -willful act causes the party wall to be exposed to the elements
BOOK 3298 PAGE 944
shall bear the whole cost of
furnishing the necessary protection against such elements.
Section 5. Right to Contribution Does Not Run With Land. The right of
any owner to contribution from any other owner under this Article shall not be
appurtenant to the land and shall not pass to such owner’s successors in title.
Section 6. Easement and Right of Entry for Repair, Maintenance, and
Reconstruction. Every owner shall have an easement and right of entry upon
the lot of any other owner to the extent reasonably necessary to perform
repair, maintenance, or reconstruction of a party wall and those improvements
belonging to one lot which encroach on an adjoining lot or common area. Such
repair, maintenance, or reconstruction shall be done expeditiously, and, upon
completion of the work, the owner shall restore the adjoining lot or lots to as
near the same condition as that which prevailed prior to commencement of the
work as is reasonably practicable.
Section 7. Arbitration. In the event of any dispute arising
concerning a party wall, or under the provisions of this Article, such dispute
shall be settled by arbitration as provided under the laws of the State of
ARTICLE IX
ARCHITECTURAL CONTROL &
INSPECTION
No site preparation or
initial construction, erection, or installation of any improvements, including,
but not limited to, residences, outbuildings, fences, walls, screens (whether
by plants or structures) and other structures, shall be undertaken upon the
Properties unless the plans and specifications therefor, showing the nature,
kind, shape, height, materials, and location of the proposed improvements shall
have been submitted to the Declarant or its agent and expressly approved in
writing. No subsequent alteration or modification of any existing improvements
nor construction, erection, or installation of additional improvements may be
undertaken on any of the
BOOK 3298 PAGE 945
Properties without prior
review and express written approval of the Board of Directors of the
Association, or by an architectural committee composed of three (3) or more
representatives appointed by the Board.
In general, no exterior
alterations or additions to buildings or garages shall be considered for
approval unless such alterations or additions are in harmony with existing
structures, as to style, shape, color and size. However, this section shall not
be construed to mean that the Architectural Committee or Board shall have to
approve a proposed alteration or addition that meets the above criteria.
In general, the construction
or planting of fences, walls, screens, and other structures will not be
permitted if in the opinion of the Declarant, Board, or Architectural
Committee, as applicable, such construction or planting constitutes an
unreasonable obstruction of the view of another owner.
In the event that the
Declarant or the Association, as the case may be, fails to approve or
disapprove the site or design of any proposed improvements within thirty (30)
days after plans and specifications therefor have been submitted and received,
approval will not be required, and the requirements of this Article will be
deemed to have been fully met; provided, that the plans and specifications
required to be submitted shall not be deemed to have been received by the
Declarant or the Association if they contain erroneous data or fail to present
adequate information upon which the Declarant or the Association, as the case
may be, can arrive at a decision.
The Declarant and/or the
Association (as applicable) shall have the right, at its election, but shall
not be required, to enter upon any of the Properties during site preparation or
construction, erection, or installation of improvements to inspect the work
being undertaken and to determine that such work is being performed in
conformity with the approved plans and specifications and in a good and
workmanlike manner, utilizing approved methods and good quality materials.
BOOK 3298
PAGE 946
ARTICLE X
USE RESTRICTIONS
Section 1. Rules and Regulations.
The Board of Directors of the Association shall have the power to formulate,
amend, publish, and enforce reasonable rules and regulations concerning the use
and enjoyment of the front yard space of each lot and the common area. Such
rules and regulations, along with all policy resolutions and policy actions
taken by the Board of Directors, shall be recorded in a Book of Resolution
which shall be maintained in a place convenient to the owners and available to
them for inspection during normal business hours.
Section 2. Use of Property.
Each building, the townhomes therein, and the common area and facilities shall
be for the following uses and subject to the following restrictions, and, in
addition, to those set forth in the Bylaws:
(a) All buildings and the common area and facilities shall be used
for residential and related common purposes. Each townhome shall be used as a
single—family residence and for no other purpose, except that the Declarant may
use one or more townhomes for offices and/or model townhomes for sales purposes
consistent with the Code of Ordinances of Raleigh. However, a resident, upon
approval of the Board of Directors, may operate an office in his unit upon such
terms and conditions as the Board of Directors may direct, provided the
necessary approval is also secured from the City of
(b) Nothing shall be kept and no activity shall be carried on in any
building or townhome or on the common area and facilities which will increase
the rate of insurance, applicable to residential use, for the Property or the
contents thereof. No owner shall do or keep anything, nor cause or allow
anything to be done or kept, in his townhome or on the common area and
facilities which will result in the cancellation of insurance on any portion of
the Property, or the contents thereof, or which will be in violation of any
law, ordinance, or regulation. No
BOOK 3298 PAGE 947
waste shall be committed on
any portion of the common area and facilities.
Cc) No immoral, improper,
offensive, or unlawful use shall be made of the Property, or any part thereof,
and all valid laws, ordinances, and regulations of all governmental agencies
having jurisdiction thereof shall be observed. All laws, order, rules,
regulations or requirements of any governmental agency having jurisdiction
thereof, relating to any portion of the Property, shall be complied with, by
and at the sole expense of the owner or the Association, whichever shall have
the obligation to maintain or repair such portion of the Property.
(d) Nothing shall be done in
or to any townhome or in, to, or upon any of the common area and facilities which
will impair the structural integrity of any building, townhome, or portion of
the common area and facilities or which would impair or alter the exterior of
any building or portion thereof, except in the manner provided in this
Declaration.
(e) No industry, business,
trade, occupation, or profession of any kind, whether commercial or otherwise,
shall be conducted, maintained, or permitted on any part of the Property,
except as set out in (a) of this section.
(f) No owner shall display, or cause or allow to be displayed, to
public view any sign, placard, poster, billboard, or identifying name or number
upon any townhome, building, or any portion of the common area and facilities,
except as allowed by the Association pursuant to its bylaws (A unit owner shall
be allowed to erect a “For Sale” or “For Rent” sign upon such terms and
conditions as set by the Board of Directors.) or as required by Raleigh City
Code Section 10—2065 2(i)(4); provided, however, that the Declarant and any
mortgagee who may become the owner of any unit, or their respective agents, may
place “For Sale” or “For Rent” signs on any unsold or unoccupied townhomes and
in suitable places on the common area; provided, however, that during the
development of the Property and the marketing of townhomes, the Declarant may
maintain a sales office and may
BOOK 3298 PAGE 948
erect and display such signs
as the Declarant deems appropriate as aids to such development and marketing,
provided that such signs do not violate any applicable laws.
(g) No person shall
undertake, cause, or allow any alteration or construction in or upon any
portion of the common are and facilities except at the direction or with the
express written consent of the Association.
(h) The common area and
facilities shall be used only for the purposes for which they are intended and
reasonably suited and which are incident to the use and occupancy of the
townhomes, subject to any rules or regulations that may be adopted by the
Association pursuant to its bylaws.
Section 3. Quiet Enjoyment. No
obnoxious or offensive activity shall be carried on upon the Property, nor
shall anything be done which may be or may become a nuisance or annoyance to
residents within the Property.
ARTICLE XI
EASEMENTS
Section 1. Walks, Drives, Parking
Areas and Utilities. All of the Property, including lots and common area,
shall be subject to such easements for private streets, driveways, walkways,
parking areas, water lines, irrigation systems, sanitary sewers, storm drainage
facilities, gas lines, telephone and electric power lines, television antenna
lines, cable television and other public utilities as shall be established
prior to subjecting the Property to this Declaration by the Declarant, and the
Association shall have the power and authority to grant and to establish in,
over, upon, and across the common area conveyed to it such further easements as
are requisite for the convenient use and enjoyment of the Property.
The Declarant reserves the
right to subject the real property covered by this Declaration to a contract
with Carolina Power and Light Company for the installation of underground
electric cables and/or the installation of street lighting, either or both of
which may require an initial payment and/or a
BOOK 3298 PAGE 949
continuing monthly payment
to
Section 2. Easements Appurtenant to
Lots. All private streets shall be subject to an easement in favor of every
Lot to which they are adjacent or which they are designated to serve and shall
be deemed appurtenant to each such Lot, whereby the owner of each such Lot
shall be entitled to use them as a means of ingress, egress and regress and
such other uses as shall have been designated. Such easement shall be superior
to the lien of every mortgage or deed of trust.
Section 3. Encroachments. All
lots and the common area shall be subject to easements for the encroachment of
initial improvements constructed on adjacent lots by the Declarant to the
extent that such initial improvements actually encroach, including, without
limitation, such items as overhanging eaves, gutters, downspouts, exterior
storage rooms and walls. If any encroachment shall occur subsequent to
subjecting the Property to this Declaration as a result of settling or shifting
of any building or as a result of any permissible repair, construction,
reconstruction, or alteration, there is hereby created and shall be a valid
easement for such encroachment and for the maintenance of the same. Every lot
shall be subject to an easement for entry and encroachment by the Declarant for
a period not to exceed eighteen (18) months following conveyance of a lot to an
owner for the purpose of correcting any problems that may arise regarding
grading and drainage. The Declarant, upon making entry for such purpose, shall
restore the affected lot or lots to as near the original condition as
practicable.
Section 4. Structural Support.
Every portion of a townhome which contributes to the structural support of the
building shall be burdened with an easement of structural support for the
benefit of all other townhomes within the building.
Section 5. Emergencies. Every
lot and townhome shall be subject to an easement for entry by the Association
for the purpose of correcting, repairing, or alleviating any emergency
BOOK 3298 PAGE 950
condition which arises upon
any lot or within any townhome and that endangers any building or portion of
the common area.
Section 6. Easement for Governmental Agencies. An easement is hereby
established over the Common Area for the benefit of applicable governmental
agencies, public utility companies and public service agencies as necessary for
setting, removing and reading of meters, replacing and maintaining water, sewer
and drainage facilities, electrical, telephone, gas and cable antenna lines,
fire fighting, garbage collection, postal delivery, emergency and rescue
activities and law enforcement activities.
ARTICLE XII
RIGHTS OF INSTITUTIONAL
LENDERS
Section 1. Rights Reserved to Institutional Lenders. ‘Institutional
Lender” or “Institutional Lenders”, as the terms are used herein, shall mean
and refer to banks, savings and loan associations, insurance companies, other
reputable mortgage lenders and insurers of first mortgages. So long as any
Institutional Lender or Institutional Lenders shall hold any mortgage upon any
Lot, or shall be the owner of any
A. To be furnished with at least one copy of the Annual Financial
Statement and Report of the Association, prepared by a~ Certified Public
Accountant designated by the Association, including a detailed statement of
annual carrying charges or income collected and operating expenses, such
Financial Statement and Report to be furnished by April 15 of each calendar
year.
B. To be given notice by the Association of the call of any
meeting of the membership to be held for the purpose of considering any
proposed Amendment to the Declaration, or the Articles of Incorporation and
Bylaws of the Association, which notice shall state the nature of the amendment
being proposed, and to be given permission to designate a representative to
attend all such meetings.
BOOK 3298 PAGE 951
C. To be given notice of default in the payment of assessments by
any owner of a Lot encumbered by a mortgage held by the Institutional Lender or
Institutional Lenders, such notice to be given in writing and to be sent to the
principal office of such Institutional Lender or Institutional Lenders, or to
the place which it or they may designate in writing to the Association.
D. To inspect the books and records of the Association during
normal business hours.
E. To be given notice by the Association of any substantial damage
to any part of the Common Areas.
F. To be given notice by the Association if any portion
of the Common Area, is made the subject matter of any condemnation or eminent
domain proceeding or is otherwise sought to be acquired by a condemning
authority.
Whenever any Institutional
Lender desires the benefits of the provisions of this section, such lender
shall serve written notice of such fact upon the Association by registered mail
or certified mail addressed to the Association and sent to its address stated
herein identifying the Lot upon which any such Institutional Lender or
Institutional Lenders hold any mortgage or mortgages, or identifying any Lot
owned by them, or any of them, together with sufficient pertinent facts to
identify any mortgage or mortgages which may be held by it or them, and which
notice shall designate the place to which notices are to be given by the
Association to such Institutional Lender.
ARTICLE XIII
GENERAL PROVISIONS
Section 1. Providing for Traffic
Flow. It shall be the responsibility of the Association to maintain uninterrupted
traffic flow along all private streets within the Properties. If it is
necessary for “no parking” signs, Street lights or other necessary traffic
aides to be erected in order to accomplish this, this shall be done at the
expense of the Association as a common expense.
BOOK 3298 PAGE 952
In no case shall the
municipality or other agency which provides emergency or regular fire, police,
sanitation or other public service for the Properties, be responsible for
failing to provide any such service to the Properties or any of its occupants
when such failure is due to the lack of access to such areas due to inadequate
design or construction, blocking of access routes, security gates or any other
factor within the control of the developer, Association, or occupants.
Furthermore, municipalities
or other agencies providing emergency services are expressly permitted to
remove or otherwise damage any security gate that may be erected, if necessary
to provide emergency service, and on no account shall they be held liable for
such damage, even if the damage occurred on a “false alarm”.
Section 2. Enforcement. The
Association, or any owner, shall have the right to enforce, by any proceeding
at law or in equity, all restrictions, conditions, covenants, reservations,
liens, and charges now or hereafter imposed by the provisions of this
Declaration. Failure by the Association or by any owner to enforce any covenant
or restriction herein contained shall in no event be deemed a waiver of the
right to do so thereafter.
Section 3. Insurance. Every
owner shall maintain in full force and effect at all times fire and hazard
insurance in an amount equal to the full insurable value of his townhome except
that the amount shall not be required to exceed the replacement cost of the
townhome. An owner shall exhibit to the Board, upon demand, evidence that such
insurance is in effect. If any owner shall fail to maintain such insurance, the
Board is authorized to obtain such insurance in the name of the owner from an
insurer selected by the Board, and the cost of such insurance shall be included
in the annual assessment of the owner and shall constitute a lien against his
lot until paid.
The Board of Directors shall
procure and maintain adequate liability and hazard insurance on property owned
by the Association.
BOOK 3298 PAGE 953
(Recommendation to owners —
If a townhome is damaged by fire or other casualty, and if such damage results
in damage to an adjacent attached unit, there may be prolonged disputes between
the insurance carriers of the adjacent damaged units (which may, in turn, delay
the settlement of claims) unless the insurance protection on both units is
provided by the same carrier. It is therefore recommended that the owners of
all townhomes located within each building purchase their fire and casualty
insurance from the same insurance carrier.)
Section 4. Severability.
Invalidation of any one of these covenants or restrictions by judgment or court
order shall in no way affect any other provisions, which shall remain in full
force and effect.
Section 5. Exchange of Common Area.
The Association, acting through its Board, from time to time may exchange with
Declarant or any member a portion of the Common Area for a portion of the real
property owned by such member within Pine Ridge Townhomes Subdivision, provided
that the real property acquired by the Association in the exchange; (a) is free
and clear of all encumbrances except the Declaration, and easements for
drainage, utilities, and sewers; (b) is contiguous to other portions of the
Common area; and (C) has approximately the same area and utility as the portion
of the Common Area exchanged. The real property so acquired by the Association
shall be a part of the Common Area, and, without further act of the Association
or membership, shall be released from any provisions of the Declaration except
those applicable to the Common Area. The portion of the Common Area so acquired
by Declarant or a member, without further act of the Association or membership,
shall cease to be Common Area and shall be subject to those provisions of the
Declaration that were applicable to the real property conveyed to the
Association by the member.
Section 6. FHA/VA Approval.
Notwithstanding any provision in this instrument to the contrary, as long as
there is a Class B membership, and if Declarant desires to qualify sections of
this
BOOK 3298 PAGE 954
subdivision for Federal
Housing Administration or Veterans Administration approval (but not otherwise),
the following actions will require the prior approval of Federal Housing
Administration or the Veterans Administration: Annexation of additional
properties, dedication of Common Areas, exchange of Common Area for other
portions of the Properties, amendment of this Declaration of Covenants, Conditions
and Restrictions, mergers and consolidations, mortgaging of Common Area and
dissolution.
Section 7. Amendment. The
covenants, conditions and restrictions of this Declaration shall run with and
bind the land for a term of twenty (20) years from the date this Declaration is
recorded, after which time they shall be automatically extended for successive
periods of ten (10) years. This Declaration may be amended during the first
twenty (20) year period by an instrument signed by the owners of not less than
ninety percent (90%) of the lots, and thereafter by an instrument signed by the
owners of not less than seventy—five percent (75%) of the lots; provided,
however, that the Board of Directors may amend this Declaration, without the
consent of owners, to correct any obvious error or inconsistency in drafting,
typing, or reproduction. All amendments shall be certified as an official act
of the Association and shall forthwith be recorded in the Wake County Registry.
All amendments shall become effective upon recordation.
Section 8. If any amendment to these
covenants, conditions and restrictions is executed, each such amendment shall
be delivered to the Board of Directors of this Association. Thereupon, the
Board of Directors, shall, within thirty (30) days do the following:
(a) Reasonably assure itself that the amendment has been executed by
the Owners of the required number of lots. (For this purpose, the Board may
rely on its roster of members and shall not be required to cause any title to
any
BOOK 3298 PAGE 955
(b)
Attach to the amendment a certification as to its validity, which certification
shall be executed by the Association in the same manner that deeds are
executed. The following form of certification is suggested:
CERTIFICATION
OF VALIDITY OF AMENDMENT TO COVENANTS,
CONDITIONS
AND RESTRICTIONS OF PINE RIDGE TOWNHOMES
By
authority of its Board of Directors, Raleigh—Pine Ridge Townhomes Association,
Inc. hereby certifies that the foregoing instrument has been duly executed by
the Owners of ___________ percent of the Lots of Pine Ridge Townhomes and is,
therefore, a valid amendment to the existing covenants, conditions and
restrictions of Pine Ridge Townhomes.
RALEIGH-PINE RIDGE TOWNHOMES
ASSOCIATION, INC.
By _________________________________
ATTEST: President
__________________
Secretary
(C) Immediately, and within the thirty
(30) day period aforesaid, cause the amendment to be recorded in Wake County
Registry.
All
amendments shall be effective from the date of recordation in the Wake County
Registry, provided, however, that no such amendment shall be valid until it has
been indexed in the name of this Association. When any instrument purporting to
amend the covenants, conditions and restrictions has been certified by the
Board of Directors, recorded and indexed as provided by this Section, it shall
be conclusively presumed that such instrument constitutes a valid amendment as
to all persons thereafter purchasing any lots in Winchester Pointe at Greystone.
Notwithstanding
the foregoing, no amendment shall be effective unless approved by the City
Attorney of Raleigh (so long as this is required by the Raleigh City Code);
provided, however, that if any amendment is submitted to said City Attorney and
is neither approved or disapproved within twenty (20) days from the date of
submission, it shall be conclusively presumed that the City Attorney has
approved it.
BOOK 3298 PAGE 956
Section 9. Amendment of Declaration Without Approval of Owners. The
Declarant, without the consent or approval of any other owner, shall have the
right to amend this Declaration to conform to the requirements of any law or
governmental agency having legal jurisdiction over the Property or to qualify
the Property or any lots and improvements thereon for mortgage or improvement
loans made, insured or guaranteed by a governmental agency or to comply with
the requirements of law or regulations of any corporation or agency belonging
to, sponsored by, or under the substantial control of, the United States
Government or the State of North Carolina, regarding purchase or sale in such
lots and improvements, or mortgage interests therein, as well as any other law
or regulation relating to the control of Property, including, without limitation,
ecological controls, construction standards, aesthetics, and matters affecting
the public health, safety and general welfare. A letter from an official of any
such corporation or agency, including, without limitation, the Veterans
Administration U. S. Department of Housing and Urban Development, the Federal
Home Loan Mortgage Corporation, Home Mortgage Access Corporation (HOMAC),
Government National Mortgage Corporation, or the Federal National Mortgage
Association, requesting or suggesting an amendment necessary to comply with the
requirements of such corporation or agency shall be sufficient evidence of the
approval of such corporation or agency, provided that the changes made
substantially conform to such request or suggestion.
No amendment made pursuant
to this Section shall be effective until duly recorded in the Register of Deeds
of Wake County.
Section 10. Amendment to Achieve
Tax—Exempt Status. The Declarant, for so long as it shall retain control of
the Association, and, thereafter, the Board of Directors, may amend this
Declaration as shall be necessary, in its opinion, and without the consent of
any owner, to qualify the Association or the Property, or any portion thereof,
for tax—exempt status.
BOOK 3298 PAGE 957
Such amendment shall become effective upon the date of its recordation in the Wake County Registry.
IN WITNESS WHEREOF, the undersigned, being the Declarant herein, has executed this instrument this the 7th day of June, 1984.
By ______________________________________________________________________________
J. R. Adams, Managing Partner
I, the undersigned, a Notary Public in and for said State and County do hereby
certify that J. R. ADAMS, Managing Partner of LAKE RIDGE ASSOCIATES, a
BOOK 3298 PAGE 958
EXHIBIT A
BEGINNING
at an iron pipe set in the eastern line of the 60—foot right of way of Lake
Ridge Road, thence North 70° 26’ 38” West 269.81 feet to an iron pipe set;
thence South 19° 33’ 22” West 85 feet to an iron pipe set; thence North 70° 26’
38” West 1.28 feet to an iron pipe set; thence South 19° 33’ 22” West 75 feet
to an iron pipe set; thence North 70° 26’ 38” West 81 feet to an iron pipe set
in the eastern line of North Shore Subdivision; thence with the eastern line of
North Shore Subdivision the following courses and distances: North 21° 31’ 12”
East 192.15 feet to an existing iron pipe, North 13° 54’ 24” East 307.65 feet
to an existing iron pipe, North 04° 57’ 51” East 496.46 feet to an existing
iron pipe, a corner of the property now or formerly belonging to North
Boulevard Commercial Center; thence with the southern line of North Boulevard
Commercial Center South 83° 35’ 09” East 559.27 feet to an iron pipe set, a
corner with property now or formerly belonging to Ferguson Enterprises, Inc.;
thence with the western line of Ferguson Enterprises, Inc., South 13° 15’ 51”
West 370 feet to an iron pipe set; thence continuing with the western line of
Ferguson Enterprises, Inc., along a curve bending to the right with the radius
of 618.24 feet, a distance of 39.34 feet to an iron pipe set in the southwest
corner of Ferguson Enterprises, Inc.; thence with the southern line of Ferguson
Enterprises, Inc., South 84” 11’ 54” East 339.57 feet to an existing iron pipe,
corner with land now or formerly belonging to Wake Oil Company; thence with the
western line of Wake Oil Company South 03° 21’ 06” West 897.02 feet to an
existing iron pipe; thence continuing with the western line of Wake Oil Company
South 14° 21’ 22” East 35.49 feet to an existing iron pipe, a corner with land
now or formerly belonging to B. J. M. Corporation; thence with the northern
line of B. J. K. Corporation South 73” 09’ 52” West 204.06 feet to an iron pipe
set; thence leaving the line of B. J. K. Corporation North 16° 50’ 08” West
223.97 feet to an iron pipe set; thence South 73° 09’ 52” West 140 feet to an
iron pipe set; thence North 56° 01’ 38” West 159.75 feet to an iron pipe set in
the eastern line of the 60—foot right of way of Lake Ridge Road; thence with
the eastern line of the 60—foot right of way of Lake Ridge Road along a curve bending
to the left with a radius of 698.81 feet, a distance of 74.30 feet to an iron
pipe set; thence continuing with the eastern line of the 60—foot right of way
of Lake Ridge Road North 19° 33’ 22” East 181.19 feet to the point and place of
Beginning, and being 19.67 acres shown as Tract 5 on a map entitled “Property
of Lake Ridge, Inc.” dated February 1, 1979, and revised January 22, 1980, by
Southeastern Surveys, Inc.
THERE
IS EXCEPTED FROM THE ABOVE DESCRIPTION THE FOLLOWING PARCELS OF LAND:
Lots
99 through 106, inclusive, and Lots 150 through 159, inclusive, as shown on a
map entitled “Additions to Pine Ridge Subdivision”, dated October 24, 1983, and
recorded in Book of Maps 1983, Page 1350 of the Wake County Registry.
Lots
89 through 94, inclusive, as shown on a map entitled “Recombination of Lots 89
through 94 and Future Development Property Additions to Pine Ridge Subdivision”
as shown on Book of Maps 1984, Page 494 of the Wake County Registry.
Lots
79 through 88, inclusive, Lots 95 through 98, inclusive, as shown on a map
entitled “Additions to Pine Ridge Subdivision”, dated August 8, 1983, and
recorded in Book of Maps 1983, Page 1100 of the Wake County Registry.
Lots
22 through 27, inclusive, as shown on a map entitled “Recombination of Lots 22
through 27 of Pine Ridge Subdivision”, dated September 7, 1983, and recorded in
Book of Maps 1983, Page 1106 of the Wake County Registry.
BOOK 3298 PAGE 959
Lots
17 and 1.8 as shown on a map entitled “Recombination of Lots
17
and 18, Pine Ridge Subdivision”, dated January 31, 1984, and
recorded
in Book of Maps 1984, Page 140 of the
Registry.
Lots
1.9 and 20 as shown on a map entitled “Recombination of Lots
19
and 20, Pine Ridge Subdivision”, dated November 11, 1983, and
recorded
in Book of Maps 1983, Page 1365 of the
Registry.
Lots
15, 16, 21, 28, 29 and 30, as shown on a map entitled “Pine Ridge Subdivision”,
dated January 21, 1983, and recorded in Book of Maps 1983, Page 71 of the Wake
County Registry.
All
of that land that has been publicly dedicated for use as Lake Ridge Drive,
Comstock Road, Roller Court, and Bona Court.
It
is the intention of this description to except from the 19.67 acre tract
described above all of the property that has been used or is to be used for zero
lot line (duplex) housing, and property that will be used for publicly
dedicated streets. All of the rest and remainder will be subject to be annexed
into the Pine Ridge Townhome Development.
Copied 2007