200208816 - Laserfiche WebLink

Browse

200208816 Covenants to be maintained by the Corporation primarily or exclusively for the benefit of the Commercial Properties. Commons also shall include any "Additional Commons" which may be added by the Developer in accordance with Paragraph 25 below. "Easements" shall mean Sign Easements described in Paragraph 4 hereof. Based on the mutual benefits arising hereunder, the undersigned owner of the Developer's Property hereby establishes the following Restrictive Covenants: 1. CONSTRUCTION: Any building or other improvement placed or constructed upon any lot within the Commercial Properties shall be completed within one year after the commencement of construction. In the event construction is not substantially completed within two years from the date title to a lot is transferred by the Developer, the Developer, its successors and assigns shall have the option to repurchase the lot for the amount paid to Developer for the lot. Developer may exercise the option by sending written notice to the titleholder of the lot. During construction on a lot within the Commercial Properties, the titleholder of such lot shall protect the Commons and Easements from damage arising out of its construction activities. 2. GRADING: The Developer shall have the exclusive right to establish grades and slopes for all lots within the Commercial Properties and to fix the grade at which any building or other improvement shall be placed or constructed upon any lot, in conformity with the general plan for the development of the Commercial Properties. 3. APPROVAL OF PLANS: Plans for any building or other temporary or permanent exterior improvement, including advertising devices, fences, exterior remodeling, reconstruction or additions shall be submitted to the Developer and shall show the design, size and exterior material for the building or improvement and the plot plan and landscape plan for the lot. One set of the approved plans ( "Plans ") shall be left on permanent file with the Developer. Construction of the building or improvement shall not be commenced unless written approval of the plans has been secured from the Developer. Written approval or disapproval of the plans shall be given by the Developer within 30 days after the receipt thereof and approval shall not be unreasonably withheld. The Developer shall have the exclusive right to disapprove the plans, if in the Developer's opinion, the plans do not conform to the general standard of development in the Commercial Properties considering the harmony of the design and location in relation to surrounding improvements. Upon disapproval, a written statement of the grounds for disapproval shall be provided. The rights and duties of the Developer under this Paragraph, except as to lots of which the Developer is the titleholder, may be assigned to the Corporation after buildings have been placed or constructed upon three - fourths of the lots within the Commercial Properties. 4. MAJOR ENTRANCE EASEMENTS: Any portion of the Commercial Properties that is owned by Developer may be dedicated from time to time by Developer