1. 15 - amconcondos.com · wJ822 fIu,334 provisions, covenants, conditions, restrictions,...

A2

T.WS. L°aMt

TALE OF CONTENTS

FOR

CONDOMINIUM ASCLAEATION .

POE

hm - con COnomint M8

Section

EETICLS ID6 INI' IONS

1. 1 Masterstiolarstlon ...... ............................. 2

1. 2 Master nt. ........2

1. 3Association............ .................. 2

1. 5Nester Pssocisttoo.....•........•••

1. 6 oenAnit ............................

2

1. 7Individual Ss SPc

1. SCondOminias Dnit ............... ..............

1. 9CondoMiniia Sui ldln9 ... .............................. I

1. 10Other Su ildln9 ...................... .......

n .........{

1. 11 Common SSemontstl. ..... ........... ........... 4

1. 12 General Common Sleaents ................... .........• 1. 17

Limited Common ....... 5Owner ...............

1. 15 Pirst Nort9age ......... ..........................••., 51. 15 Pirst Nort9a9N........... .................. 1. 16 .....

5

1. 17Proleat .......... ...............................

1. 15Condosini ms map ••••••••••••'••••

RETICLE IIINIUM pNNlESEIf

DIVISION Of PEwwv zoo .......... D

2. 1Division Into Condosinim Anits...........•

2. 2IasePataDilitT ...........

P ... ........................

i

2 2 Npn- PsttitioM

SectionPace

ARTICLE III

CONDOMINIUM MAP

3. 1 Recording .............. ..................r........... 6

33.2 Content ................ .............................. 3 Amendments ............ ...............................

ARTICLE IV

OWNER' S PROPERTY RIGHTS IN COMMON ELEMENTS6. 1 Rights of Owner' s Easements of Enjoyment and

Rights of Ingress and Egrdss ......................... 76. 2 Llmited Common Elements .............................. 56. 3 Major Recreational Facilities ........................ 9

ARTICLE V

MEMBERSHIP AND VOTING RIGHTS IN THE ASSOCIATION5. 1 Membership ............. .............................. 95. 2 Classes of Voting Membe rship ......................... 9

ARTICLE VITHE ASSOCIATION

6. 1 Management and Maintenance Duties and Duty toEstablish Reserve Account ........................... 10

6. 2 Owner' s Negligence; Prohibition of CertainActivities ........... ............................... 11

6. 3 Management Agreements and Other Contracts.......... 126. 6

Acquiring and Disposing of Personal Property........ 126. 5 Promulgation of Rules and Regulations ............... 136. 6 New Additions to Common Elements .................... 136. 7 Agreements for Access ...............................

ARTICLE VIIASSESSMENTS

7. 1 Personal obligation for Assessments ................. 147. 2 Amount of Annual Common Expense Assessments......... le7. 3 Re serves ............. ............................... 167. 4 Data of Commencement of Annual Common Expense7. 5

Assessments .......... ...............................

liRate of Assessments ............................... 7. 6 Special Assesses nts .. ............................... 177. 7 Notice sod Quorum for Action Autborised Under

section 7. 6 .......... ............................... 177. 8 Lien for Assessments . ............................... is7. 9 Effect of Non- Payment of Assessment* ................ 167. 10 Successor' s Liability for Assessments ............... 19

I/ I.

Section page

7. 11 Subordination of Association' s Lien forAssessments.. .............. 19

7. 12 Certificate of Status of Assessments .............. . 20

7. 13 Working Fund ......... ............................... 20

7. 14 First Mortgagees May pay Assessments and CureDef aults ............. ............................... 21

7. 15 Liens ................ ............................... 21

ARTICLE VIIIINSURANCE

8. 1 Duty to Obtain and Maintain Insurance ............... 21

8. 2 Insurance Obtained by Owners ........................ 23

8. 3 Annual Review of Insurance Policies ................. 23

ARTICLE IX

CONVEYANCES AND TAXATION OF CONDOMINIUM UNITS

9. 1 Contracts Entered into Prior to Recording ofCondominium Map and Declaration ..................... 24

9. 2 Contracts Entered Into Subsequent to Recordingof Condos ini us Map and Declaration ...... .. ..........

24

9. 3 Legal Effect of Description ......................... 21

9. 4 Taxation ............. ............................... 25

ARTICLE IMECEANIC' S LIENS

10. 1 Mechanic' s Liens ..... ............................... 25

10. 2 Enforcement by the Association ...................... 25

10. 3 Effect of Part Payment .............................. 26

ARTICLE XI

EASEMENTS

11. 1 Recorded Easements ..... ............................. 2611. 2 Encroachments ...... ............................... .

2711. 3 Emergency Eas ement .. ............................... 11. 4 Maintenance Basement.. .......... 2711. 5 Drainage Easement... ......

11. 6 Easements for Access for Repair, Maintenanceand Emergencies ............. ..

27

11. 7 Declarant'• Rights Incident to Construction ......... 26

11. E Easements Deemed Created ............................ 28

ARTICLE III

DAMAGE, DESTRUCTION, OBSOLESCENCE OR CONDEMNATION

12. 1 Association as Attorney -in- Fact ..................... 28

12. 2 Damage or Destruction .. ............................. 29

ULU

o Aw

Section Pwe

12. 3 Obsolescence ........... ............................. 3112. 4 Condemnation ......... ............................... 32

ARTICLE XIII

BURDENS AND BENEPITS OF DECLARATION

13. 1 Covenants Running with Property ..................... 3313. 2 Binding Upon and Inure to the Successors............ 34

ARTICLE XIVAMENDMENT OF DECLARATION

14. 1 Amendment ............ ............................... 3414. 2 Am ndment by Declarant ............................... 3414. 3 Recording of Amendme nts ............................. 35

ARTICLE XV

VETERANS ADMINISTRATION ORFEDERAL HOUSING ADMINISTRATION APPROVAL

15. 1 Amendments, Dissolutions, Mergers, Dedications, Etc ..... ............................... 35

ARTICLE XVIANNEXATIONS

16. 1 Annexations by Declarant ............................ 3516. 2 Modification of Undivided Interests ................. 3616. 3 New Additions of General and Limited

Common Eleme nts ...... ............................... 37

ARTICLE XVIIFIRST MORTGAGEES

17. 1 Mohr and First Mortgagee Approval ................. 3717. 2 Notice of Action ..... ............................... 4017. 3 Audit .................. ............................. 4117. 4 Association Books and Records ....................... 41

ARTICLE XVIIIMISCELLANEOUS

14. 1 Period of Condominium ownership ..................... 4114. 2 Supplement to Condominium ownership Act ............. 4116. 3 Conveyance of Condominium Units ..................... 4214. 4 Exterior Changes - Architectural Control

Committee Approval ... ............................... 4216. 5 Enforcement .......... ............................... 42

iv)

Section pace

18. 6 Registration of Mailing Address.......... ............ 42

18. 7 Non- Naiver .............. ............................. 42

18. 8 Severability ......... ............................... 42

18. 9 Number and Gender .... ............................... 43

18. 10 Captions ............. ............................... 43

18. 11 Conflicts in Documents .............................. 43

Exhibit A ..................... ............................... 45

Exhibit E ....................... ............................. 46

Exhibit C ....................... ............................. 48

12 / 01 / E2 / airdecs /1be

KA822 ex! 333

CONDOMINIUM DECLARATION

FOR

AM - CON CONDOMINIUMS

KNOW ALL MEN BY THESE PRESENTS:

THAT WHEREAS, MEMPHIS DEVELOPMENT CORPORATION, a

Colorado corporation ( hereinafter called ' Declarant-) is the

owner of that certain real property situated in the County ofArapahoe, State of Colorado, being more particularly described anExhibit A attached hereto and incorporated herein by thisreferences and

WHEREAS, Declarant plans to construct sulti -unit buildings on the above- described property, including improvements and. appurtenances thereto and thereon, and it desires hereby to provide for the condominium ownership of the same pursuant to theprovisions of the Condominium Ownership Act of the State of Colo- rado) and

WHEREAS, the above - described property shall be subjectto a certain Master Declaration of Covenants, Conditions andRestrictions of Am - Con, recorded or to be recorded in the officeof the Clerk and Recorder of the County of Arapahoe, State ofColorado, as the same may be amended from time to tine, and thecovenants, conditions, restrictions, reservations, easements,

rights -of -ray, obligations, liabilities, charges, and other

provisions set forth therein) and

WHEREAS, Declarant desire* to subject and place upon theabove - described property additional covenants, conditions,

restrictions, easements, reservations, rights -of -way and othercharges set forth herein for the purpose of protecting the valueand desirability of said property and for the purpose of further- ing a plan for the improvement, sale and condominium ownership ofsaid property, to the end that a harmonious and attractivedevelopment of said property may be accomplished and the health, comfort, safety, oonvenience and general welfare of the

Declarant, its successor* and assigns in said property, or anyPortion thereof, promoted and safeguarded.

WN, THEREFORE, the Declarant hereby submits the above - described property, together with all improvements, appurtenancesand facilities thereto and now or hereafter thereon, to oendo- minion ownership under the Condominium Ownership Act of the Stateof Colorado, as the same may be mended from time to time, andhereby imposes upon all of said property the following terms,

wJ822 fIu,334

provisions, covenants, conditions, restrictions, easements,

reservations, uses, limitations and obligations, which shall bedeemed to run with the above - described property and all propertyhereafter annexed to this Declaration and shall be a burden and abenefit to Declarant, its successors, assigns, and any personacquiring or owning an interest in the above- described propertyand / or annexed property, their grantees, successors, heirs, executors, administrators, devisees or assigns.

ARTICLE I

DEFINITIONS

1. 1 Declaration. ' Declaration- shall mean and refer tothis Condominium Dec _&ration, as it may be amended from time totime.

1. 2

Master D• cl raastio n. • Master Declaration- shallmean and refer to a certa Mter Declaration of Covenants, Con- ditions and Restrictions of Americana, recorded or to be recordedin the office of the Clerk and Recorder of the County ofArapahoe, State of Colorado, as the same may be amended from tineto time.

1. 3 Declarant. ' Declarant- shall mean and refer toMemphis Development orporation, a Colorado corporation, itssuccessors and assigns, if such successors and assigns acquireone or more portions of the Property from the Declarant for thepurpose of constructing Condominium Buildings thereon.

1. 4 Association. - Association- shall mean and refer tothe Am - Con Con a n um asociation, Inc., a Colorado nonprofitcorporation, its successors and assigns. The Association shallact by and through its Board of Directors and officers.

1. 5 Master Association. - Master Association- shallmean and refer to t e Americana Master Association, Inc., a

Colorado nonprofit corporation, its successors and assigns. TheMaster Association shall act by and through its bard ofDirectors and officers.

1. 6 Property. - Property- shall ran and refer to theproperty described 15 Brhiblt A attached hereto, together withany property which is hereafter annexed to this Declaration pursuant to the provisions of Article EVI hereof.

1. 7 Individual Air B oe unit. - Individual Air BpaCOunit- shall me,_ ean a re er to t e • r Space contained within tbsenclosed rooms occupying part of a floor or floors in a Comdo-

inium Building and bounded by the unfinished interior surfacesof the perimeter walls ( or the adjoining walls, if two or more

2-

Ioa13822rw3m

Individual Air Space Units adjoin each other), unfinished

Interior surfaces of floors ( or the lowermost floors, if it is anIndividual Air Space Unit containing more than one level), unfinished Interior surfaces of ceilings ( or the uppermost ceilings, if it is an Individual Air Space Unit containing more thanone level), windows and window frames, doors and door frames of aCondominium Building, and separately identified, on the Condo- minium Nap. Said Individual Air Space Unit to to be used forresidential purposes and shall have access to public street.

1. B Condominium Unit. • Condominium Unit- shall manand refer to the ee s mple merest in and to an Individual AirSpace Unit, together with all fixtures one. improvements thereincontained, and together with the undivided . ntor* xt in the CommonElements appurtenant to the Individual Air Space Unit u shown onExhibit B attached hereto and incorporated herein by this reference, which undivided interest is subject to Ming modifiedannexations to this Declaration pursuant to the provisions ofArticle Evi hereof.

1. 9 CondominI= Build inC. • Condomlnl u• 6uildSng• shallmean and refer to any building ( including all fixtures andimprovements therein contained) located on the Property andwithin which one or more Individual Air Space Units are located.

1. 10 Other Buildin L. • Other Building- shall mean andrefer to any building or o et similar structure ( including allfixtures and improvements therein contained) located on the Prop- erty, but excluding any Condominium Building.

1. 11 mom n Elements. • C000n Elements• shall ran andrefer to the totality o a

a) She Property! and

b) She Other Buildings and

c) She Condominium Buildings ( including, but notby way of limitation, the foundations, columns, girders, beus, supports, Periwter and supporting walls, chimneys, fireplaces, roofs, stairs, stairways, entrances and exits, and the mechanicalInstallations of the Condominium Buildings consisting of theequipment and materials making up any central services such ampower, light, gas, hot and cold water, heating, refrigeration, central air conditioning and incinerating which exist for coonuses, including the pipes, vents, ducts, flues, chutes, conduits, wires, and other similar utility installations used in Connecticuttherewith), except for the Individual Air Space Units! MW

d) Any yards, sidewalks, walkways, paths, bicyclePaths, grass, shrubbery, trees, drinways, private streets, park-

I-

ioo(;MtI0336

ing areas, landscaping, gardens, and recreational areas and

facilities, if any, located on the Propertyt and

e) The tanks, pumps, motors, fans, compressors, ducts and, in general, all apparatus, installations and equipmentof the Condominium SuiIdingo existing for Common use of theOwneral and

f) In general, all other parts of the Projectexisting for the common uses of the Owners, and all other partsof the project necessary or convenient to its existence, sainten- once or safety, or normally in common use.

1. 14 General Common Elements. ' General Common

Elements- shall mean an re ec to all of the Common Elementsexcept the Limited Common Elements.

1. 13 Limited Gammon Elements. - Limited Common

Elements' shall mean an re • r o races parts of the CommonElements which are either limited to and reserved for theexclusive use of the owner or Owners of particular Condominium

Unit or are limited to and reserved for the common use of theOwners of more than one, but fewer than all, of the CondominiumUnits. Without limiting the foregoing, the Limited Common

Elements shall include the balcony or patio and the fireplace andflue adjacent to an Individual Air Space Unit, any storage areaor closet which may be designated on any Condominium Map for useas a Limited Common Element by a specific Condominium Unit, andthe utility, heating, air conditioning and domestic hot water

bbalconynor

within such Individual Airaccessile

Space

front associated with, and which adjoins a particular Individual Air SpaceUnit, any storage ace& or closet which may be so designated enthe Condominium Kept as aforesaid, and the utility, heating, & ir

conditioning and domestic hot rater equipment associated withsuch Individual Air Space Unit shall, without further referencethereto, be used in connection with such Individual Air SpaceUnit to the exclusion of the use thereof by the other Owners, except by invitation. So reference thereto need be made in anyinstrument of conveyance, encumbrance or other instrument.

1. 14 owner. " owners shall mean and refer to any record

owner ( includingDeclarant and including a contract seller), whether one or sore persons or entities, of a fee simple titleinterest to any Condominium Unity but excluding, however, anysuch record owner baying such an interest serelY as aeouritY forthe performance of an obligation ( unless such person has acquiredfew simple title Interest therein pursuant to foreclomure or anyproceedings in lieu thereof). when a person who is an owner oem- veys or otherwise seaigns of record his Lea simple title interestto a Condominium Unit, then, retroactive to the date of soon eon'

veyance or assignment, such person shall thereafter ee• se to bean Owners provided, however, that the foregoing shall not in anyway extinguish or otherwise void any unsatisfied obligation ofsuch person which existed prior to or arose at the tine of such

conveyance or assignment, specifically including without limitingthe generality of the foregoing, any unsatisfied obligation topay Association u asssnouts, charges or fees.

1. 15 First Moltae. * First Mortgage• shall mean andrefer to any unpaid and outstanding mortgage, deed of trust orother security instrument recorded in the records of the officeof the Clerk and Recorder of the County of Arapahoe, Colorado, having priority of record over all other recorded liens exceptthose governmental liens made superior by statute ( such as general ad valorem tar liens and special assessments). • lira Mort -

respect

fornoticea of cancellation

i or substantial

with

certain insurance policies, to Section 1. 1( f) hereof, shall alsomean and refer to any executory land sales contract wherein theAdministrator of Veterans Affairs, an Officer of the Unitedsties of America, is the seller, whether such contract isrecorded or not, and whether such contract is owned by the saidAdministrator or has been assigned by the said Administrator andIs owned by the Administrator' s assignee, or a remote & @sign**, and the land records in the Office of the Clerk and Recorder of

the County of Arapahoe, Colorado, show the said Administrator anhaving the record title to the Condominium Unit.

1. 16 rLr• t Mort• ate. - First Mortgagee' shall mean and

refer to any person nue3 as a mortgagee or beneficiary under. anyFirst mortgage ( including, for purposes of Notions 7. 10, 7. 11, 7. 12 end, with respect to notice of cancellation or substantial

modification of certain insurance policies, to Section 8. 1( f) hereof, the Administrator of Veterans Affairs, an Officer of theUnited states of America, or his as si ns eaunder any executory ldsales contract wherein the said Administrator is identified asthe seller, whether such contract is recorded or not and the landrecords in the office of the Clark and Recorder of the County OfArapabce, Colorado, show the said Administrator as having therecord title to the Condominium Unit), or any successor to theinterest of any such person under such First mortgage.

1. 17 Pro ect. ' Project' shall mean and refer to the

totality of all • roperty, Condominium Buildings, Other Build- ings, Condominium Units and Common Slesents.

1. 15 % R4?

j1niomMap. ' Condominium map• shall ran and

refer to the Con os n-in RapCor Amon Condominiums, recorded orto be recorded in the records of the office of the Clock andRecorder of the County of Arapahoe, Colorado. More than one

Condominium map or supplement thereto may be recorded! smd,

S-

1

ecoc3822fm;338

without limiting the generality of the foregoing, separate

Condominium Maps may be recorded for each Condominium Buildingand /or for each annexation to this Declaration pursuant to theprovisions of Article EVI hereof. If amore than one condominiummap or supplements thereto are recorded, then the term " Condo- minium Map' shall collectively mean and refer to all of such condominium maps and supplements thereto.

ARTICLE 1I

DIVISION OF PROJECT INTO CONDOMINIUM OWNERSHIP

2, 1 Division Into Condominium Units. The Project. ishereby initially divided into fiftyZT, separate CondominiumUnits as identified in Exhibit E attached hereto and incorporatedherein by this reference) provided, however, that such number ofCondominium Units may be modified by annexations to this Declaretion pursuant to the provisions of Article EVI hereof.

2. 2 Inseparability. Each Condominium Unit, as well asall other appur tanances, rights and burdens connected therewith, shall be inseparable and may be transferrad, conveyed, leaned, devised, encumbered or otherwise disposed of only as a Condo- minium Unit. Every conveyance, transfer, devise, lase, encumbrance or other disposition of a Condominium Unit shall be deemedto be a conveyance, transfer, devise, lase, encumbrance or otberdisposition, an the case may be, of the entire Condominium Unit, together with all appurtenant rights, interests, duties and obligations, created by law or by this Declaration.

2. 3 Ron- Partitlonabiltt The Common Elements shall beowned in oomon y all o t • Owlers and shall ruin undivided. By the acceptance of his dead or other instrument of conveyanceor Assignment, each Owner specifically waives his right toInstitute and / or maintain a partition action or any other actiondesigned to cause a division of the Common Elements. Purther-

more, each owner agrees that this Section 2. 3 may be pleaded a abar to the maintenance of such an action. Any violation of thisSection shall entitle the Association to collect, jointly andseverally, from the parties violating the same, the actualattorney'• fees, Coats, expenses and all damages which theAssociation incurs in connection therewith.

ARTICLE III

CONDOMINIUM MAP

3. 1 Recordigg. The initial Condominium Map, coveringall or any port on or the Property, and mob subsequent Condo- minium Map, if any, shall be recorded in the office of the Clerk

6-

u313522 m!339

and Recorder of the County of Arapahoe, State of Colorado, priorto conveyance of the first Condominium Unit sham on such Condo - inim Map.

3. 2 Content. Each Condominium Map shall depict andshow at least tFe—!oilowing, the legal description of the land

and a survey thereof the location of the Condominium Building( s) in reference to the exterior boundaries of the lands the floorand elevation plansl the location of the Condominium Units withinthe Condominium Building( s), both horizontally and verticallyi adesignation of which Common Elements contained in a CondominiumBuilding are Limited Common Elemental the Condominium Unit designations; and the Condominium Building designations. Each such

Condominium Map hall contain the certificate of a registeredprofessional engineer, licensed architect or registered land sur- veyor certifying that the Condominium Map substantially depictsthe location and the horizontal and vertical measurements of theaforesaid information, and an affirmation that such CondominiumMap was prepared subsequent to substantial completion of theimprovements shown ther eons In interpreting the Condominium Map, the existing physical boundaries of each separate CondominiumUnit, as constructed, shall be conclusively presumed to be itsboundaries.

3. 3 Amendments. Declarant hereby reserves unto itselfand the Assoc at on, the right, from time to time, withoutobtaining the consent or approval of any Owner or First Mort- gagee, to &*end any Condominium Map in order to conform such Con- dominium Map to the actual location of any improvement( m) constructed, installed or erected on the Property, or to establishand designate &* y General Common Elements as Limited CcionElements. The rights accorded to Declarant in this Section 3. 3shall expire on the date of conveyance of the last CondominiumUnit by Declarant to the first Purchases thereof ( other thanDeclarant) .

ARTICLE N

OWNER' S PROPERTY RIGHTS IE COMM M ELEMENTS

4. 1 R! hts or Owner' s saseaents or sn o en% .,,., ..• --- of I ress and 14ress. Zvery owner, his family members, quest. and 1icqnz0* g sn&II cave a right and easement of enjoyment in andto the General Common Elements and thou Limited Common Elwentsappurtenant to his Condominium Unit, plus a right and easement ofingress and agleam over, across and upon the General CommonElements gad those Limited Common Elements appurtenant to hisCondominium unit for the purpose of getting to and from hisCondominium Unit, parking area, any recreational facilities andpublic ways, for both pedestrian and vehicular travel, whichrights and casements shall be appurtenant to and pass With the

7-

6u3622rx!340

trans£er of title to the owner' s Condominium Unitt provided, hove ver, that such rights and easeaent shall be subject to thefollowings (

a) TAe tens, Provisions, covenants, conditions, restrictions, easements,

reservations, uses, limitations and

obligations contained in this Declaration and the CondominiumMapt and

b) The right of the Association to chargereasonable admission

a h use of

ional or otherwhichch is part Of the CommonE

tElemental

and

c) The right of the Association to Suspend thevoting rights and any and all rights of any owner to the use ofany recreational facilities for any period during which any Aasociation assessment against such owner or against such Oval' ssixty (60) days,

aaan

results Ofasuch downer' sin[ action,, oe, the

infraction

it or an fOwner' s

guests o inviteeOfany cult cc gulatio o the Association;

and

d) The right of the Association to limit the

recrreeatirecreationalother

es

facilitiesa, contained

which

in the

use any

Elements and

a) The right of the Association to adopt, fromtime to time, rules and regulations concerning the CommonElements and any facilities located thereon, as the Associationmay determine is necessary or pcudenti and

f) The right but not the obligationn9of the

Association, from time to time, to assign specific parkingor areas for the exclusive use of the owners of WCondominiums Units or particular Condominium Euildingtha

and to

change the assignment thersoft provided, however, paarkingn

apacnifoshthe

purposesof igautomobile parking

leastand each

owner of that Condominium Unit shall have the right to use suchparking spacer and

g) The right of the Association tolicenses and easements over the Common Elementsroads and other purposes reasonably necessary orproper maintenance or operation of the Project.

6. t Linitsd ommon Elmments. Subject to the tens a"

provisions of tFri c ant on, every owner shall have the

appurtenant to hls, Condominium

use

Unit- it,

the limited Common Slaswnta

grantgrant permits,

for utilities,

useful for the

a- e-

IoA62 X1311

4. 3 Ma or Recreational facilities. Declarant does notplan to construct any oa or recreat one acilities on or as partof the Common Elements. Subject to the provisions of Section 4. 1hereof, all major recreational facilities, if any, will be available to be used by all Owners and the ambers of their familites, their guests and invitees.

ARTICLE V

4HERHHIp AND VOTING RIGHTSN THE IATI

S. 1 Membership. Every owner of a Condominium Unitwhich is subject to usassment hereunder shall be member of theAssociation and shall remain a member for the period of hisownership of a Condominium Unit; provided, however, that in noevent shall the total number of Association votes which are. cutwith respect to such Condominium Unit exceed the total comber ofvotes allocable thereto, as provided in Section 5. 2 hereof.

Membership in the Association shall be appurtenant to, and maynot be separated from, ownership of a Condominium Unit.

5. 2 Classes of Voting Mbers . The Associationshall have two c assetioiToo ms ra p.

a) Class A. The Class A ambers shall be allowners, with the excapt on of Declarant, and shall be entitled toone vote for each Condominium Unit owned. When more than oneOwner holds an interest in the same Condominiim Unit, all suchOwners shall be ambers and the vote for such Condominium Unitshall be cast as the owners thereof agree, but in no event shallmore than one vote per question be cast with respect to such Coo- dominium Unit. If the Owners of such Condominium Unit do notagrse as to the manner in which their vote should be cast when

called upon to vote, then they shall be treated as havingabstained.

b) flame S. The Class E member( s) shall WDeclarant, and shall entitled to three votes for each Coodo-

inium Unit owned which is neither leased, nor rented, not other-

wise occupied as a residence, including those Condominium Unitsdescribed in any statement of Intention to Annex as more fullyprovided in Article EVI of this Declaration. Waning, resting., or allowing entry for residential occupancy shall terminate theDeclarant'• weighted voting advantage in relation to any Cendo-

inium Unit so leased, rented or occupied as residence, and

will limit Declarant in relation to any such Condominium Units tothe same voting rights as a Class A amber. The Class E member-

ship shall coast and be converted to Class A membership on thehappening of either of the following events, whichever occursearlier;

9-

i) one hundred twenty ( 170) days after thatwhichdate on

ship equal thet total votes

total oot8 outstanding in

Class member-

shipClassa " abershipy

or

i i) on that date which is five ( S) yearsof thi 11

theeClerk andeRecorderrof Arapahoe county, Colorado.

te office of

6. 1

ARTICLE VI

THE ASSOCIATION

ion, tde Associat

a) be responsible for the management, control,

Elementsn(includirepair, facilitiest furnishingsandenequipment twl*

dnthereto), and shall keep the sue in good, clean, attractive adsanitary condition, order and repairs provided, however, thateach owner shell be responsible for exclusive maintenance andrepair of all fixtures, equipment and utilities installed orlocated within such Owner' s Individual Air Space Unit, includingwithout limitation all utility, heating, plumbing, air conditioning and domestic hot water equipment nd aurttenances, ieecmnterand

ing at a point where such fixtures, equipmentsaid Individual Air Space Unit, regardless of whether suchfixtures, equipment and utilities are owned by said Owner or areCommon Elements, and for keeping the Limited Common Elements, orportions thereof, designated for use solely in connection withhis Condominium Unit, in a good, clean, sanitary end attractiveconditions

b) maintain and repair the exterior surfaces Ofthe Condominium buildings ( including, without limitation, thepainting of the sage an often as necessary, the replacement oftrim and caulking, and the maintenance and repair of roofs, butexcludingreplacement providedwindow washing 6. 7 N

thisntbeclatatiocjllro[

c) maintain in a proper, first class manner, allgrass, trees, shrubbery, flowers and similar landscaping oonmti- tuting part of the Common Elemental and

d) establish and maintain, out of the monthlyinstallments of the annual assessments, an adequate reserve fundfor maintenance, repair and replacement of those Common Elementswhich must be maintained, repaired or replaced on a periodicbasis.

10-

The expenses, costs and fees of such management, operation, maintenance, repair, replacement and improvement by theAssociation, as provided in this Section 5. 1, shall be part ofthe annual common expense assessment levied by the Associationand the prior approval of the Owners shall not be required inorder for the association to pay any such expenses, costs andfees, regardless of the miss thereof.

6. 2 Owner' m Malicencer Prohibition of CertainActivities.

a) Notwithstanding anything to the contrarycontained in this Declaration, in the event that the need formaintenance, repair or replacement of the Common Blements, or anyportion thereof, is caused through or by the negligent or willfulact or omission of an Owner, or by any member of an Owner' sfamily or by an Owner' s guests or invitees ( such determination ofnegligence or willful act or omission, and the mount of theOwner' s liability therefor, having been determined by theAssociation by a hearing after notice to the Owner), than Wexpenses, coats and fees incurred by the Association for suchmaintenance, repair or replacement shall be the personal obligation of such Ormera and, if not repaid to the Aasociatim withinten ( 10) days after the Association shall have given notice tothe Owner of the total amount of such expenses, costs and fees, or any portions thereof, from time to time, then the failure toso repay shall automatically become a default assessment determined and levied against such Condominium Unit and Owner, and theAssociation may proceed in accordance with Section M hereof.

11-

b) Further, nothing shall be done or kept in anyCondominium Unit or In or on the Common lements, or any partthereof, which would be in violation of any statute, rule, ordinance, regulation, permit or other imposed requirement of maygovernmental body having jurisdiction over the saes, No dams" to, or waste of, the Common Slements, or any part thereof, shallbe committed by any Owner, or by any caber of an Owner' s family, or by a quart, invitem, or contract purchaser of any owner, Bach

Owner Mall indemnify and bold the Association and the otherOwners harmless from and against all long and damage resultingfrom any action or activity committed by his, the members of hisfatly, his quests, lnvitema or contract purchasers, which is isviolation of this Section 6. 2( b). At its am initiative or upon

z f the written request of an Oroar4u Y ( and, if the associatim

rdetermines that further motion by it is proper), then alternotice and a hearing by the Association, it shall enforce theforegoing indemnitya . _

act•. In the same manner an provided in

Section 10. 2 hereof with respect to Owner' san indemnity mgalmstaechonic' s liana.

11-

6. 3 Management Agreements and other Contracts.

a) The Association may utilise Ponalmanagement in performing its duties hereunder. Any agreement

prof easional management of the Association' s business shall havea maximum term of three ( 3) yomrs, may be renewable by consent ofthe Association and the manager or managing agent, and shallprovide for termination by either party thereto, with or withoutcause and without payment of a termination fee, upon thirty ( 30) days prior written notice. Any such management contract& enteredinto by the Association with

manager or managing agent while

there in aapproval by Class Federal Housing alAdministration of the Ohs. Administratin, shall have a termnnotexceeding one

the )

Yost' "

shall terminate absolutely, in any event, not later than thirty30) days after termination of said Class S membership.

b) Any contractor licenses or leases entered intoby the Association while there is a Class B membership, except esprovided in Section 6. 3( a) or 6. 7 of this Declaration, shall Pro- vide for termination by either party thereto, with or withoutcause and without payment of a termination fee, at any time aftertemination of the Class H membership, upon ninety ( 90) days Priorwritten notice, provided, bovever, that any contract entered intoat any time by the Association providing for services Of theDeclarant shall provide for termination at any time byparty thereto without cause and without payment of a terminationfee upon ninety ( 90) days prior written notice.

Notwithstanding

anything to the contrary contained in this Nctioa 6. 3( b), the

scionaofo thus Sectionn6. 3( b) tupon a waiver of anyers¢uiraentslicenses and

contained herein by the Veterans Administration and the FederalNational Mortgage Association.

6. 6 Aceu iring and Di 25051ng of Personal Prober t' E. TheAssociation may acquire, own ano cola ror the amd

of

all Owners, tangible and intangible, personal property

enellalaydispose of the • ame by sale or otherwise.

The

interest

f

any such property shall be desmad to be owned by theowners in the same undivided proportion as their respectiveundivided interests in the Common Nlements.

Such beneftalal

interest of an Owner shall not be transferable acePt with teatransfer of that Owner' s Condominium unit.

Transfer 09

Condominium Unit, including transfer Pursuant to foceclosers, shall

beneficialM ( interesthentransfereepersonal hip

r ' of the

ropperty without 007reference thereto. Hach Owner Soy use such personal propert7 Ln

thanouch

with the

shall not

for which it isencroach upon

thenlawful rig

of other owners.

12-

6. 5 promul anon of Rules and Re ulac ions. The Board

of Directors o t e Assoc at on sy pr omu gate and enforce, including without limitation enforcement by levying and collect- ing fine for the violation thereof, reasonable rules and regulations governing the use of the Condominium Units and the CommonElements, which rule and regulations shall be consistent withthe rights and duties established in this Declaration. The

Association or any aggrieved Owner may take judicial actionagainst any Owner to enforce compliance with such rules andregulations, to obtain damages for noncompliance or for injunc- tive relief, or both, all to the extent permitted by lawt in anysuch action the prevailing party shall be entitled to recover Itscosts and reasonable attorneys' fees incurred pursuant thereto.

6. 6 New Additions to Common Elements. Subject to the

other provisions of this Dec arat on TaPecific&11Y including, butnot limited to, Section 7. 6 hereof), the Association shall havethe right to construct new additions to the Common elements. Ownership of any such additions to the Common Elements shall beapportioned among all Condominium Units in proportion to therespective undivided interest in the Common Elements appurtenantthereto, as shown in Exhibit B attached hereto, which undividedinterests may be modified by annexations to this Declarationpursuant to the provisions of Article = VI hereof the pommOnexpenses for any such additions to the Common Elesents shall beapportioned among all Condominium Units as provided in sections7. 2 and 7. 5 hereof. except with respect to any annexations tothis Declaration pursuant to the provisions of Article Mhereof, the construction of new additions to the Common elementsshall not affect an owner by way of modification of his votingpower in the Association.

6. 7 regiments for Access. The Association, through

its Board of D rotor , s a aw • right to enter Into, Baker

perform or enforce contracts, licenses and agreements, includingbut not limited to the acceptant or grantingo ` easements , Moirrights -of -ray, for the use, Y

family members, guests and invitees, of real property forpedestrian and vehicular access, ingreas and egress to and fromthe Project, or any portion thereof. Such agreements shall heupon such terms and conditions an agreed to by the Board ofDirectors of the Association, which may include provisions bywhich the Association covenants and agrees that it shall pay partof all of the costs and expenses of maintaining such realproperty, and the improvements thereto and thereon, and any suchcosts shall be treated by the Association SA common expensespursuant to Article VII hereof.

13-

W

AItyICLt VII

ABEE88MEMT8

7. 1 personal Obli ation for Assessments. All Owners,

including Decluant • including any purr seer or its " signs

under an executory land sales contract wherein thi Administratorof Veterans Affairs is identified as the seller, covenants andagrees, and shall be personally obligated, to pay to the Associa- tion; ( a) annual common expense assessments imposed by theAssociation to most the common expense and reserve requirementsof the Association! ( b) special assessments, pursuant to

Section 7. 6 of this Declaration) and ( c) other charges, fees

and assessments, including without limitation default & 85982- Monts? as provided in this Declaration. All owners of each

e to the

Association for ! the payment jof hall assessments, Lees nand bargesattributable to their Condominium Unit. The personal obligation

for delinquent assessments shall not pass to an Owner' ssuccessors in title or interest unless expressly assumed bythem. No owner may waive or otherwise escape personal liabilityfor the payment of the " " assents, charges and fees provided for

herein by non -use of the Common Elements or the facilitiescontained therein or by abandonment or leasing of his CondomiaiunUnit. In addition to the foregoing assessments, charges and

r fees, each Owner shall have the obligation to pay real propertyad valorem taxes and special assessments imposed by Coloradogovernmental subdivisions against his Condominium Unit, as cellas all charges for separately metered utilities servicing bigCondominium Unit. The charges for utilities which are mastermetered shall be included in the annual common expense & 28962- Monts levied by the Association.

7. 2 Amount of Annual Common lxoense Assgss" nts.

a) The initial monthly ooemon expanse assessmentfor each Condominium Unit shall be the amount of Forty -gins and50/ 100 Dollars Uaf. 50) per month, subject to the rate of aswsg-

videdoin Section

77..5 hereo

owned

f. The initial annual c000mmon

fullyexpense

assessment for each Condominium Unit shall be the amount of themonthly oosmon exile " e as " assent for that Condominium Unit, uaforesaid, multiplied by the number of months in such first

h -' annual common expense assessment year.

E ( bl Commencing with the ssoond assessment year sadthereafter, the maximum annual cammen expense assessment shall bebased upon the Association' s advance budget of all cash require- sent rh ich may be needed by the Association to p[ ovide for thepayment of all estimated expenses related to or connected withthe administration, maintenance, ownership, repair, operation,

14-

addition, alteration and improvment of the Project, the CommonIlementa, and personal property arced by the Association, exceptas otherwise provided in this Declaration.

The maximum annual

common expense assessment per Condominium Unit shall be wlen- latad by multiplying the total mount of the aforesaid advancebudget of the requirements estimatd to be the undivided inls[ es!

tion for the annual ueesement yearin the Common Slements appurtenant to such Condominium Unit. Theswine of saidexpenses

obudgetnagement;

include, Premums t for insurance;

limited to; xP n rounds; common lighting a dhearing, Landscaping and care of rs an 9heating, maintenance, repairs and renovations of Common Slemenu; certain

common water asein r Setion a 9. 4taxes' hereof cleegal 04certain taxes as providedaccounting fate, management fees, costs, expenses and liabilitiesincurred by the Assoceesoe 1of• this Carl' tionf theAtticlestofowners under or bylncorportion or bylaws of the Associations the crestice

o

j andreasonable reserves, working capitaan /or Sinking the co O° any and all other costs and expensesSlements and /or the Project-

c) In the event the bard of Directors dduringAssociation determines, a = lonely, ties and from tie and s' sduri

gto

any annual assessment Psential

functions of the Association say be adequatelY funded by _ a common expense Sees nt nee +u

u ntesperiod, then, mPo for that annual common expowritten notification thereof to each Owne., a heAsinc i ;ion 4Ylevy and collect such Lauer common • spa short-

however, that Declarant shall have no obligation in Section 7. 5fall in emsesaments, u more fully Providedasseement periodhereof, during Y such annual comwn expense usesament i ilk which less than the serious oomeon P

levied by the Association, unless the Aceitucbnlesobtains o

wtitten approval of Declarant prior to levyingexpense van leemiaieclocmmon • rpensiessesswentt shall be

afttbsif atof any

against each

expense

Unit except those Condo- all, equally N the acmard ofainius Units owned by the Declarant.

In the

any rise mad ftcmDirectors of the Assoeiaiondet neiipueu asusesmmemt periodelse W time, daring anyto which the Assocition shall have levied arson sates Ofasaassoent in as amount less than the oa :" Suns, the the rate hecommon expenses assessnant thentoad all imPO: of rtant sand ~ a entialmmeaa ic- necessary to adequately UW

clone of the Association' then the hasoeiation may ineremecommon expense assessment Nainmt sac Condomin sea Dm1t t

inwritten notification therscf to each Owner to an

amount t in

excess of the sex, oun fat that annual common axpense assesmmaatperiod.

is-

7, 3 Reserves. The AssociatioCepair and $replacementadequate reserve men or the maintenance, riodically maintained, of those Common Blementa that Bust be Pe funded

repaired arreplaced. annual c

e

ommon expense assessments

ugh tde

monthly payme on gx nee

7, 6 Date of Commencement of Annae assessmentmi

a

see °^ the date of conveyance by Declarant of the Eirst Con- Assessment

dominium Unit, and the secord and each subsequent annual commonyearexpense assessment period hall correspond nsehas+

eeemental all

of the Association. The annual cod°

pa

instald that thebe made due and Payable in twelve ( 12) monthly providedded thatm per

annum on such dates as detere

mined

asseeagentthiseshall dbepadjusted accord-

first annual common expoing to the number of apnihs ucchasingfirst annualCondominiva t between

lastassessment year. AnY owner purchasingpro cats share of the lastinstallment due dates shall payinstallment due.

n • x nee and

7, 5 Rate of Assessmeaet equallyannua

call Condominium

special asses vents • a

Units uEEieient to meet the advancepovbded, that, notwithstandingas Pzovideioi the oo^ trary hcontaine —d in tii s - Declaration, theanything nee and special assessment rate set for eaohannual common expoCondominium Unit owned by Declarant and which is neither leased, fixednot ranted, nor otherwisent ( 2a)

u

cfsdthe

asaesi... ntsrtellfor other

as a

at twenty -five P Condominium Units rhich are owned byCondominium Units. rented, or otherwise occupied asDeclarant and which Its 1646", o^ the date of residential occu- a residence shall, panty tht eof, be "$

eased at the same rate u other Condo In heUnits. in the event that, prior to the

termination

xofSSG,

Class B membership, "aes went$

for annual reserve fund

sulusivs of those amounts necessary equal 1. 03LCesd the actualend for working the Association during any cowo^ expenseexpenses incurred by partial Declarant asasssments,

assessment period because$ estt indent ial D , up to the amount ofthen Decar nt shall pay to the Assoeiatio^ to most anyfull parity on such asses wants, such shortfall so 1009 as ( a) written notice mot bs riven io

t

Association within sixty lit) oisythe oASSOCiatioo at tthe stisse ofthe than current fiscal Y but ! n no event more

the termination of the Class • irm atiii ation of such Class bthan one ( 1) year follorlo9membership, and ( b) Decl lnndieuces tot cPital ilmPtoveeoateorsuch shortfall caused by •:

pe without limitation the

by any deccsses in assessme` tsI ass Onti in an amount less c

than

levying of any common Gape n expense as agesment Pthe maximum tot any aanual cameo

16-

unless the same has been previously approved in writing byDeclarant; t Declar nt, as defined

that

in this hD• cla

ationereach such

an oneh

Declarant shall pay its proportional share of such shortfall, ashereinabove provided, such proportional share to be based on thesquare footage of the Property owned by each Declarant comparedto the total square footage of the property owned by allDeclarants.

7. 6 cial Nsessments. In addition to the assess -

sients authorise a vs, t" e Association may at any time, fromtime to time, determine, levy and assess, which determination, levy and assessment may be made by the Association' s Hoard ofDirectors with the consent of two - thirds ( 2/ 3) of the votes ofeach class of Members who are voting in person or by prosy at ameeting duly called for that purpose, a special assessmentapplicable to that particular assessment Year for any

purpose Of

defraying, in whole or in part, paymentsdeficit and / or unbudgeted costs, fees and expenses of any construction, reconstruction, repair,

demolition, replacement or

maintenance of the Common Elaaenta, specifically including without limitation any fixtures and personal property relatedthereto. She amounts determined, levied and assessed pursunthereto shall be set equally against each Condominium Unit, provided that the Declarant shall be assessed at a rate which istwenty -five percent ( 256) of the rate assessed against otherCondominium Units* and shall be due and payable as determined bythe Association' s Board of Directors. As long As there is aClass a membership, any special assessment for apical q'eLeransment( s) shall also require the written approvalAdministration or the P• deral Housing Administration of the U. E. Department of Housing and Urban Development. '

Capital Improve-

ments,' as used in the pr"• ding sentence, shall men the

construction, erection or installation of substantial struo- tur•( s) or other substantial improvements on the Property, butshall not include the construction, reconstruction, erection, installation, maintenance, repair or replacement of CommonElements Presently located on the Property or which way hereafterinconstructed,

of installed omr n•rl

itvepmento the Project. notice iwriting setting

forth the amount of ouch special assessment per Condominium Unitand the due date for payment thereof shall be given to the Ownersnot loss than thirty ( 30) days prior to such due date.

7. 7 Eotice and . rum for Action Authorized

Section 7. 6. Mr ttn not c• o any meet nq ca • ar • pnr-

pome o voting on a special asseassent pursuant to section 7. 6shall be sent to all Members not less than thirty ( 30) days normorerst

then

such

sixtycalled,, h• presence ofot Members or of proxies

entitled to cast sixty percent ( 606) of the votes of each class

17-

wo13622m=

of membership shall constitute a quorum. If the required quorumis not present, another meeting may be called subject to the samenotice requirement, and the required quorum at the svbsouChemeeting shall be one -half ( 1 / I) of the required quopc eroding meeting. no such subsequent meeting shall be held morethan sixty ( 60) days following the preceding meeting.

7. s Lien for Assessments. The assessments, charges andasfees, includ irknth1 orOut atb• r tinstallmentsdefaultthereof providd forwell s anY ether with any and all interest, costs, in thischarges, rges, ex

n ( tog

late charges, expenses and reasonable attorney'• Hn which may

arise under the provisionaedhis einataion)nishall be

eoburdensrunning with, and a pa peupon, the specitis Condominium Unit to which such assessmentsapply. To evidence

preparea °ah writtenonlienonnotice 9 ting

the

hs ciation may P Pdescription of the Condominium unit, t

count of assessmentss

thereon which are unpaid as of the date of such lien notice, thenee of the owner or Owners that and any and all other information that the Association may deem proper. She lien f

theandshall be signed by a sea bar of the Board of Directors hall hbe

Msoci ation or by an officer of the Association, Of

recorded in the office of the Clark and Recorder o[ writtenilinArapahoe, state of Colorado.

The recording of asY

notice shall not constitute a condition Precede nor delay theattachment of the lien, but such lien i• a perpetualeach Condominium Unit and attaches vithout notice at the beginning of the first day of any per iod for rhlch any assessment islevied or assessed.

7.! Blfect of Bon -pa nt of Assessments. Any assses-

ment charge o[ ee ppowdefcultT ; n; thnet arising undercoas Prm-

without limitation, any o[ other installmentvision o! this Declaration, o[ any monthlythereof, which i not fully paid within ten e rate

days aster theeighteen

due date thereof,

annalland interest ionmay uses$ a monthly

percent ( Ut) per ! bring aslate charge thereon.

itu[ at boththeagainst any Ownet personally

action at law or in eW Y. g e[

obligated to pay such overdue assessments, charges proceed tomonthly or other installments thereof, and ..

y

foreclose its lien again b such MsocierSonnNagainst i0annr toaction at law or in equity Yrecover a money judgment for unpaid assessments, charges atf

e

or any monthly at other installment thereof, may bepuraued by the Association without foreclosing of in any raywaiving the net,

lion

fee, or monthly of other installmentsuch af, is

nC, id when due and the Association shallthereof, is not lu11Y Pmcommence such an action ( or shall counterclaim or croseclais ofI$-

9oAS2 W351

such relief in any action) against any owner personally obligatedto pay the same, or shall proceed to foreclose its lien againstthe particular Condominium Unit, then all unpaid assessments, charges and fees, and all unpaid monthly or other installmentsthereof, any and all late charges and accrued interest under thisSection 7. 91 the Association' s costs, expenses and reasonableattorney' s fees incurred for preparing and recording any lionnotice, and the Association' s costs of suit, expenses and reasonable attorney' s fees incurred for any such action and /or foreclosure proceedings, shall be taxed by the court as • part of the

casts of any such action or foreclosure proceeding and shall berecoverable by the Association from any owner personally obligated to pay the same and from the proceeds of the foreclosuresale of such owner' s Condominium Unit. Foreclosure or attempted

foreclosure by the Association of its lien shell not be deemed toestop or otherwise preclude the Association from thereafter againforeclosing or attempting to foreclose its lion for any subsequent assessments, charges or fees, or monthly or other

installments thereof, which are not fully paid when due. The

Association shall have the power and right to bid on or purchaseany Condominium Unit at foreclosure or other legal sale., and toacquire and bold, lease, mortgage, vote the Association votesappurtenant to ownership thereof, convey or otherwise deal withthe same.

7. 10 Successor' s Li• bilit for Assessments. notwith-

standing any terms an prow s one o t Declarat on to the con-

trary, the sale or transfer of any Condominium Unit shall notaffect the lien for assessments, charges or fees levied hereunder, except that sale or transfer of a Condominium Unit pursuant to foreclosure of a First Mortgage or any proceeding inlieu thereof, including deed in lieu of foreclosure, shallextinguish the lien of Association assessments which became dueprior to any such sale or transfer or foreclosure, or anyproceeding in lieu thereof, including deed in lieu of for*- closure] provided, however, that any such as Basements, charges orfees which are extinguished as provided herein may be reallocatedand assessed to all Condominium Units as a common expense. Further, no First Mortgagee shall be liable for any unpaid

easements, charges or feu, or portion thereof, accruing

against a Condominium Unit prior to the time such First Mortgageetakes title to such Condominium Unit pursuant to any remedy Pro- vided in its First Mortgage or by law. No such sale, transfer,

foreclosure or any procuding in lieu thereof, including deed inlieu of foreclosure, shall relieve any owner from liability forany assessments, charges or fees, or any portion thereof, thereafter becoming due, not such owner' s Condominium Unit fromthe lien thereof.

7. 11 utgrdination of Association' Llen foe Asses

monta. The Assoc at on s pecq team 1 en on • n n u• t

19-

scu3522 w352for assessments, charges and fees, provided for herein, shall besuperior to any homestead exemption as is now or may hereafter beprovided by state or federal law. The acceptance of a deed to a

Condominium Unit subject to this Declaration shall constitute awaiver of the homestead exemption against all such assessments, charges or fees. Said assessment lien shall also be superior to

11 other liens and encumbrances exceptt (a) real property ad

valorem tax and special assessment liens duly imposed by a Colo- rado governmental subdivision, and ( b) the lien of any First

records of

encumbering

office of then Clerk and Recorder of the Countythe

of

Arapahoe, Colorado, prior to the date such assessment became due, including any and all advances made by a First Mortgagee andnotwithstanding that any of such advances may have been madesubsequent to the date of the attachment of the Association' slimn.

7. 12 Certificate of Status of Aasesamen.ts. Open

receipt of a written request roes any owner, any F rst Mone

oga= ; me

of a Condominium Unit or any other person, and upon payreasonable fee, but in no event less than Twenty -Five Dollars

25. 00), the Association, through its Board of Directors or byits managing agent, shall issue a written statement setting forththe amount of any unpaid Association assessments, charges, fees, or portions thereof, if any, with respect to the subject Condo- minim Unit, the amount of the current monthly common expenseassessment and the date that such assessment becomes due, the duedate of any special assessment then existing against the Condo- minim Unit, the amount of any credit for any advanced P• Yieof assessments and for prepaid items ( such as insurance

premium), and any other information deemed appropriate by theAssociation. Said written statement shall be lc

n w! ontb*

lusocistiort in favor of all pawho e thereon good

faith.

1. 13 Working Fund. The Association or Declarant shallrequire the first owner of each Condominium nit ( other thancationDeclarant), to make a non - refundable WY dollars

1$ 150.

0amountor twoequal (2)

ttimes the amonthly dr* d off th annual

common expense useesment ( one- sixth of the annual common • xp• nmeassesmment) against that Condominium Unit in effect at theclosing thereof, which sum shall be hold, without interest, bythe kmeociaticn m working funds. Said payment shall becollectedoftth N" Is by tDecclrant thef • ch CondominiumlUnit, ssfafors- mid, and shall be maintained in segregated account with other

such working funds for the use and benefit of the Association. Such payment to working funds shall not relieve an owner frommaking regular psyments of assessments as the sus b6OOme dus. Upon the transfer of him Condominium Unit, an Owner shall be

20-

wt..3522 PMu: 353

entitled to a credit from his transferee for the aforesaidpayment to working fund.

7. 14. First Mort a ees Kay Pa Assessments nd CuteDefaults. In t e event any assessment, or monthly or otherTn—st—&TTment thereof, on any Condominium Unit shall not be paid bythe Owner thereof within thirty ( 30) days after the same is due, or if a default by any Owner of any provision of this Declara- tion, the Articles of Incorporation or Bylaws of the Association,

shall not be cured within thirty ( 30) days after written noticethereof is given to such Owner, then any First Mortgagee may ( butshall not be required to) pay such assessment or monthly or otherinstallment thereof, together with any other amounts secured bythe Association' s lien created by this Article VII, and may ( butshall not be required to) cure any such default.

7. 15 Liens. In accordance with the requirements of the

Colorado CondomTnius Ownership Act, as amended, Declarant herebystates that it is possible that liens other than mechanics' liens

and assessment liens my be obtained against the Cason Elements, including without limitation judgment liens and purchase moneymortgage liens.

ARTICLE VIII

INSURANCE

0. 1 Duty to Obtain and Maintain Insurance. The Asso-

ciation shall to n an sea nts n at all times, to the extent

that such coverage is reasonably available, considering theavailability, cost and risk coverage provided by such insurance, the following types of insurance,

a) A multi -peril policy with extended coverageand standard all -risk endorsements, including coverage for fire, vandalism and malicious mischief, as well as such other risks as

shall customarily . be covered with respect to condominium projectssimilar in construction, location and use, insuring the Projectand all Common Elements, but excluding coverage on furniture, furnishings or other personal property supplied or installed byan Owner; said policy shall provide coverage in an amount equalto One Hundred percent ( 1001) of full replacement cost withoutdeduction for depreciation. All policies shall contain a

standard noncontributory mortgagee clause in favor of each FirstMortgagee of a Condominium Unit, which shall provide that anylose thereunder shall be payable to the Association for the use

and benefit of First Mortgagees as their interests may appear.

b) If the Project is located in an area Identi-

fied by the Federal Emergency Management Agency an having specialflood hazards, and flood insurance coverage has been made

21-

1oof SnPI6f354

available under the National Flood Insurance Program (• NFIP•), a

aaster- or - blanket- policy of flood insurance on the Condo- Buildings, Other Buildings and any other property covered

by the required fora of policy ( herein * insurable property) inan mount deemed appropriate, but not lass than the lesser of;

i) the maximum coverage available under the

NFIP for all Condominium Buildings, Other Buildings and other

insurable property within any portion of the Project locatedwithin a designated flood hazard area; or

ii) one hundred percent ( 1001) of current

replacement cost- of all Condominium Buildings, Other Buildingsand other insurable property within any portion of the Projectlocated within a designated flood hazard area.

Any policy of insurance carried by the Associationpursuant to this Section 5. 1( b) shall be in a fora which meetsthe criteria set forth in the most current Guidelines on the

subject issued by the Federal Insurance Administrator.

c) Public liability and property damage insuranceproviding coverage in an amount not less than One Million Dollars

11, 000, 000. 00) per occurrence, covering claims for bodilyinjury, personal injury and property damage. Coverage shall

include, without limitation, liability for personal injuries, operation of automobiles on behalf of the Association, andactivities in connection with the ownership, operation, sainten- anoe and other use of the Project, as well as such other risks as

shall customarily be covered with respect to condominium projectssimilar in construction, location and use.

d) Markman' s Compensation, employer' s liabilityinsurance and all other similar insurance with respect toemployees of the Association in the amounts and in the toffs asmay now or hereafter be required by law.

e) A policy providing fidelity covers" or

fidelity bonds in such amounts an provided in Article VIII, Section 3( g) of the Bylaws of the Association, to protect againstdisbonest acts on the part of officers, directors, trustees andemployees of the Association and all others who handle or areresponsible for handling funds of the Association. Such fidelitycoverage or bonds shall name the Association as an obligee amdshall contain waivers of any defense based upon the exclusion ofpersons who serve without compensation from any definition of

employee" or similar expression.

f) She Association may obtain insurance againstsuch other risks of a similar or dissimilar nature u it halldeem appropriate with respect to the Project, to the extent that

33-

f

u0822mi355

such coverage is reasonably available, including but not limitedto personal liability insurance to protect directors and officersof the Association from personal liability in relation to theirduties and responsibilities in acting as directors and officerson behalf of the Association.

All policies of insurance carried by the Associationshall contain waivers of subrogation and waivers of any defensebased on invalidity arising from any acts of Member of the

Association, and shall provide that the policies may not be can- celled or substantially modified without at least thirty ( 30) days' prior written notice to the insured, am well u to theFirst Mortgagees of each Condominium Unit. Duplicate originals

of all policies and renewals thereof, together with proof of payment of premiums, shall be delivered to any first Mortgagee of aCondominium Unit upon written request. The insurance shall be

carried In blanket form naming the Association as the insured, asattorney -in -tact for all of the Owners, which policy or policiesshall identify the interest of each Owner ( by name and Condo- minium Unit number designation) and first Mortgagee. further,

the Association may require the insurance company or companiesproviding the insurance coverages described herein to provideeach Owner and first mortgages with a Certificate of Insurance inregard to such Owner' s Condominium Unit.

b. 2 nsurance Obtained Owners. Insurance coverage

on furnishings, nc u ng carpet, draperies, oven, range, refrig- erator, wallpaper and other items of personalty, or other ]?top- arty belonging to an owner, and public liability coverage withineach Condominium Unit, shall be the sole and direct respone- lbillty of the Owner ( a) thereof, and the Association, its boardof Directors and /or the managing agent of the Association Shallhave no responsibility therefor. owners may carry other insurance for their benefit and at their expense, provided that allmuch policies shall contain waivers of subrogation, and provided

further that no liability of the carriers issuing insuranceobtained by the Association shall be affected or diminished byreason of any such additional insurance carried by any Owner.

4. 3 Annual Rawl w icies. All insurancepolicies carr • • son n

o

reviewed at least

annually by the board of Directors of the Association to anomr- tain that the weer -age provided by such policies adequatelycovers those risks insured by the Association.

23-

eoa3W Mt6! msARTICLE IX

CONVEYANCES AND TAXATION OF CONDOMINIUM UNITS

minium me an Dec & rat on A contract or otner agreement nor

t e sae o s on om n um unit entered into prior to the filingfor record of the Condominium Nap and / or this Declaration in theoffice of the Clerk and Recorder of the County of Arapahoe, Colo- rado, may legally describe such Condominium Unit in the mannerset forth in Section 9. 2 hereof and may indicate that the Condo- minium Map and /or this Declaration are to be recorded. Upon

recordation of the Condominium Map and this Declaration in theCounty of Arapahoe, Colorado, such description shall be conclusively presumed to describe the corresponding Condominium Unitshown on the Condominium Map and such Condominium Unit shall besubject in all respects to this Declaration.

9. 2 Contracts Entered Into SUOSe ant to secocaandomini um Ma an Dec ar at on. Subsequent to t e rotor

the Condominium Map an i s Declaration, every contract, lease, mortgage, deed of trust, will and every other instraffecting title to a Condominium Unit may legally describeCondominium Unit u follows,

Condominium Unit in Condominium BuildingAM - CON CON IUMS, according to the

Condominium Map thereof, recorded on , 19 , in Book at page , in t e cecor s of

the office of t-Fe—Clerk and Recorder of the Countyof Arapahoe, Colorado, and as defined and describedin the Condominium Declaration for AM - CON OOM- DOMINIOMS, recorded on , 19,E inBook at page _, in Said records.

9. 3 Legal affect of Descriotion. Every contract, dead, lease, mortgage, e• o trust, X11 anc every other instrumentaffecting title to a Condominium Unit Which legally describessaid Condominium Unit in the manner met forth in Section 9, 2bersof shall be good and sufficient for all purposes to sell, convey, transfer, encumber or otherwise affect not only the Con - dominiom Unit, but also the undivided interest in the CocoonElements appurtenant thereto and all other appurtenant propertiesand property rights, and incorporate all of the rights, limitations and burdens incident to ownership of a Condominium Unit ssdescribed in this Declaration and the Condominium Map. Raab, suchdescription shall be construed to include a nonexclusive eesmmestfor ingress and * green to and from each Condominium Unit amd theuse of all the General Common Elements u Well as mil of theLimited Common Elements appurtenant to said Condominium Unit, allas more fully provided in this Declaration.

24-

c4in I= N%3w.&,m

9. 4 Taxation. Each Condominium Unit shall be assessedseparately foriliFxes, assessments and other charges of theState of Colorado, any political subdivision thereof, any specialimprovement district, and any other taxing or assessingauthority, in accordance with the Condominium ownership Act ofthe State of Colorado, as mended. For the purpose of such

assessments, the valuation of the Common Elements shall beapportioned among the Condominium Units in proportion to theundivided interest in Common Elements appurtenant thereto. The

Association shall furnish to the Tax Assessor of the County OfAraphaoe, Colorado, and to all other appropriate persons andauthorities, all necessary information with respect to suchapportionment. rfo forfeiture of sale of any Condominium Unit fordelinquent taxes, assessments or other governmental charges shalldivest or in any way affect the title to any other CondominiumUnit.

ARTICLE x

MECHANIC' S LIENS

10. 1 Mechanic' s Lions. / o labor performed and /or

uterials furni a or use m incorporated in any CondominiumUnit with the consent or at the request of the Owner thec wl, hisagent, contractor or subcontractor, shall be the basis for thefiling of a lion against

Condominium Unit of any other Owner

not exprosaly oonesntinq to or requesting the Same, or againstany into rest in the Common Elements except as to the undividedinterest therein appurtenant to the Individual Air Space Unit Ofthe owner for whom such labor shall have been performed or suchmaterials

fa nrslle itlrh o the other owners and the caont

against any liability or loss arising from the claim of maysochanic' lien against the Condominium Unit of any other Owner, the Common Elements, or any part thereof, tot labor performedand /or for materials furnished in work on the first owner' sCondominium Unit.

10. 2 lorcement the Association. At its eon

initiative or upon t e rc teen equast o any er, if the haso-

ciation determines that further action by it In proper and tbsmechanic' s limn( B) are not disputed claim with a reasoesblebasis for such dispute, the Association, after notice and bear- ing,

oollecting *

nforco the

the Ownerr of the Condominium Unit

hereof

bthe

labor was performed and /or materials furnished, the amount ascea- sary to discharge any such smchanic' lien, Including all costs

and reasonable attorney' s lees incidental tbeteto, mod obtain adischarge of such lien. In the event that the Owner Of the cam - dominium Unit oc which the labor was performed and /or materialsfurnished refuses or falls to so indemnify within wren ( 7) days

25-

snOS22Pi6 358after the Association shall have given notice to such Owner ofthe total amount, or any portions thereof, from time to time, tobe indemnified, then the failure to so indemnify shall be adefault by such Owner under the provisions of this Section 10. 2and such amount to be indemnified shall automatically become adefault assessment determined and levied against such Condominium

Unit, and the Association may proceed in accordance with Section7. 9 hereof.

10. 3 Effect of Part Pa meet. In the event a lienattributable to -labor per orme an or materials furnished on theProject, or any portion thereof, is effected against two or moreCondominium Units, the Owner( s) of any of the affected Condo- minium Units my pay to the lienholder the amount of the lienattributable to such Owner' s Condominium Unit and the lienholdershall release such Condominium Unit from the lien. The amount

required to be paid by any such Owners in order to obtain releaseof their Condominium Unit from any much lien shall be equal tothe quotient of ( i) the amount of the lien, divided by ( il) thetotal number of Condominium Units affected by the lien. Partial

payment and release of any such lien with respect to any Condo- minium Unit( s) shall not prevent the lienholder from enforcinghis rights against any Condominium Unit for which payment has notbeen received.

ARTICLE E1

EASEMENTS

11. 1 Recorded Easements. In addition to all easements

and rights -ef -way of record at or before the recording of thisDeclaration, the Property, and all portions thereof, shall besubject to the easements as shown on any recorded plat of theProperty, or any portion thereof, and as shown on the recordedCondominium Map.

11. 2 Encroachments. In the event that any portion ofthe Common Elementsenccoa —c Bea upon any Condominium Unit( a) or inthe event that any portion of a Condominium unit encroaches uponany other Condominium unit( s) or upon any portion of the COmOnElements, or in the event any encroachment shall occur in thefuture as result of, ( i) nettling of a Condominium Building, or ( ii) alteration or repair to the Common Elements, or ( iii) repair or restoration of one or more Condominium Buildings and /or

Condominium Unit( s) after damage by fire or other casualty, orcondemnation or eminent domain proceedings, then, in any of saidevents, valid easement shall exist for the encroachment and forthe maintenance of the same to long as the encroachment exists. In the event that any one or more of the Condominium Units, Con- dominium Buildings or other improvements comprising part of theCommon Elements, are partially or totally destroyed and are sub-

26-

t•'. Sy

n ..

mo13822 P, 6E359

sequently rebuilt or reconstructed in substantially the samelocation, and as a result of such rebuilding or reconstructionany portion thereof shall encroach as provided in the precedingsentence, a valid easement for such encroachment shall thanexist. such

determined to beencroachments

cumbrances either

onethe Common ElementsO

oron the Condominium Units for purposes of marketability of titleor other purposes. In interpreting any and all provisions ofthis Declaration, subsequent deeds, mortgages, deeds of trust orother security instruments relating to Condominium Units, theactual location of a Condominium Unit shell be deemed conclusively to be the property intended to be conveyed, reserved orencumbered, notwithstanding any minor deviations, either horizontally, vertically or laterally, from the location of such Condo- minim Unit as indicated on the Condom inius leap.

11. 3 seer ancv Easement. A general easement is hereby

granted to all police, sheriff, fire protection, ambulance andall other similar emergency agencies or persons to enter upon allstreets and upon the Common Elements in the proper performance oftheir duties.

11. 4 Maintenance Easement. An easement is hereby

ranted to the asoc at on, is o cer-s, agents, employees and

assigns upon, across, over, in and under the Common Elements andright to sake such use of the Common Elements as may be

necessary or appropriate to perform the duties and functionswhich it in obligated or permitted to perform pursuant to thisDeclaration, including the right to construct and maintain on theCommon Elements maintenance and storage facilities for use by theAssociation.

11. 5 Drain a Easement. An easement is hereby granted

to the assocI on, is o ce[ s, agenU, employees, successors

and assigns to enter upon, across, over, in and under any portionof he Property for the purpose of changing, cos resting or Other" visa modifying the grade or drainage channels of the Property was to Improve the drainage of water on the Property.

11. 6 Easements of Access for Is air Maintenanced

Einar eneles, e o t e Common Element are or say coat

w t n n victual Air space Units or may be conveniently aeeess- ible only through individual Air space Units. She owners of

other Individual Air space Units shall have the irrevocableright, to be exercised by the Association as their agent, to haveaccess to each Individual Air space Unit and to all CommonElements from time to time during such reasonable hours as may benecessary for the maintenance, repair, removal or replacement ofany of the Common Elements located therein or accessible therefrom

vent , damage sto the Elementscr to

h

any

l

IndividualsAir SP4cs

Z7_

uAsnflu3EQ

Unit. The Association shall also have such right, independent ofany agency relationship. Subject to the provisions of Section6. 2 hereof, damage to the interior of any part of an IndividualAir Space Unit resulting from the maintenance, repair, emergencyrepair, removal or replacement of any of the Common Elements oras a result of emergency repairs within any Individual Air SpaceUnit at the instance of the Association or any Owner, shall be anexpense of all the owners. Non - emergency repairs shall be madeonly during regular business hours on business days after twenty - four ( 21) hours notice to the occupants of the Individual AirSpace Unit wherein such repairs are to be made, except where theoccupants have no objections to earlier entry for repairs. In

emergency situations the occupants of the affected Individual AirSpace Unit shall be warned of impending entry as early as isreasonably possible. -

11. 7 Declacant' s R1 hts Incident to Construction. Declarant, for tae an is successoca an ass gns, ere

retains a right and easement of ingress and egress over, in, upon, under and across the Common Elements and the right to storematerials thereon and to make such other use thereof as may bereasonably necessary or incidental to the complete constructionof the Project; provided, however, that no such rights shall beexercised by Declarant in such a way as to unreasonably interferewith the occupancy, use, enjoym=ent or access by any owner, hisfamily members, guests or invitees to or of his Condominium Unitor the General Common Elements.

ll. S Easements Deeaed Created. All conveyances of Con-

dominium Units Fereafter made, whether by the Declarant or otherwise, shall be construed to grant and reserve the easements contained in this Article XI, even though no specific reference tosuch easements or to this Article XI appears in the instrumentfor such conveyance,

ARTICLE XII


12. 1 Association as Attorne - in -Fact. This Declaration

does hereby ma e man story t e 1treVOC8ble appointment of anattorney -in -fact to deal with the Project in the event of itsdestruction, damage, obsolescence or condemnation, including therepair, replacement and improvement of any Condominium Units, Condominium buildings, Common Elements or other portions of theProject which have been destroyed, damaged, condemned or becomeobsolete. Title to any Condominium Unit is declared andexpressly made subject to the term and conditions hereof, andacceptance by any grantee of a Deed or other instrument of conveyance from the Declarant or from any Owner or grantor shallconstitute appointment of the attorney -in -tact herein provided.

se-

Yikti. r. " i :"

uw3822r%!361All of the Owners irrevocably constitute and appoint the Associa- tion as their true and lawful attorney in their name, place andstead, for the purpose of dealing with the Project upon itsdamage, destruction, obsolescence or condemnation, as is hereinafter provided. As attorney -in -fact, the Association by itsPresident and Secretary or Assistant Secretary, or its other dulyauthorized officers and agents, shall have full and completeauthorization, right and power to make, execute and deliver anycontract, deed or other instruments with respect to the interestof an Owner which are necessary and appropriate to exercise thepowers herein granted. In the event that the Association is dis- solved or becomes defunct, a meeting of the Owners shall be heldwithin thirty ( 30) days after either such event. At such meetinga new attorney -in -fact, to deal with the Project upon itsdestruction, damage, obsolescence or condemnation, shall beappointed. Such appointment must be approved by the Ownersrepresenting an aggregate ownership interest of sixty -six andtwo - thirds percent ( 66 - 2/ 31t) or more of the Common Elements andat least seventy -five percent ( 75%) of the First Mortgagees ofCondominium units.

12. 2 Dsme a or Destruction. • Repnir and reconstruction'

of the improvements, as use in the succeeding subparagraph&, means restoring the improvement(&) to substantially the same condition in which they existed prior to their damage or destruction, with each Condominium Unit and the General and LimitedCommon Elements having substantially the sue vertical and horizontal boundaries as before, and all improvements being reconstructed or repaired in substantial conformance with theProject' s original architectural plan and scheme, to the extentthan reasonably and economically feasible. The proceeds of anyinsurance collected shall be available to the Association for thepurpose of repair, reconstruction, restoration or replacement, in

accordance with the provisions hereinafter set forthr

a) In the event of damage or destruction due to

fire or other adversity or disaster, the insurance proceeds, ifsufficient to repair or reconstruct the improvement( s), shall beapplied by the Association, as attorney - in -fact, to such repairand reconstruction, and the Improvement( s) shall be promptlyrepaired and reconstructed. The Association shall have fullauthority, right and power as attorney -in -fact to cause therepair and reconstruction of the improvement( s). Assessments forcosaon expenses shall not be abated during the period of insurance adjustments and repair and reconstruction.

b) If the insurance proceeds are insufficient torepair and reconstruct the improvement( s), much damage or

destruction shall be promptly repaired and reconstructed by theAssociation u attorney -in -fact, using the proceeds of insuranceand the proceeds of a special assessment, to be made, notwith-

29-

60022 P! G 3cz

standing anything to the contrary contained in Section 7. 6hereof, without a vote of the owners, against all of the ownersand their Condominium Units. Such special assessment shall becalculated in accordance with the provisions of Section 7. 6hereof, and shall be due and payable not sooner than thirty ( 30) days after written noticq thereof. The Association shall have

full authority, right and power, as attorney -in -fact, to causethe repair, replacement or restoration of the iaprovement( s), using all of the insurance proceeds for such Purpose, % twith-

standing the failure of an owner to pay the aforesaid specialassessment. The special assessment provided for herein shall bea debt of each owner and a lien on his Condominium Unit, and mybe enforced and collected as provided in Section 7. 9 hereof, Including the provisions therein pertaining to the payment ofinterest, late charges, costs and expenses.

Assessments for

common expenses shall not be abated during the period ofInsurance adjustment and repair and reconstruction.

c) Notwithstanding the foregoing provision ofthis Section 12. 2 and subject to the provisions of Article LVIIhereof, the owners may agree not to repair or reconstruct theimprovementst in such event, the Association shall forthwithrecord a notice in the office of the Clerk and Recorder of theCounty of Arapahoe, Colorado, setting forth such facts and uponthe recordation of such notice executed by the Association Presi- dent and Secretary or Assistant Secretary, the entire Trojan; shall be sold by the Association pursuant to the provisions ofthis Section, as attorney -in -fact for all of the owners, free andclear of the provisions contained in this Declaration, the Condo- minium Map, and the Articles of Incorporation and Bylaws of theAssociation. Assessments for common expenses shall not be abatedduring the period prior to sale. The insurance settlement

proceeds shall be collected by the Association, combined with allsale proceeds, and all such proceeds shall be divided intoportions by the Association, each portion representing brieCondominium Unit, with the amount of each portion to be reasonably, and in good faith, allocated by the Board of Directors ofthe Association to each Condominium Unit based on the oompsrativevalue of the Condominium Units as they existed Immediately priorto the damage and destruction, using such evidence Of tbaappraised values as is then available, including but not limitedto recent MAI appraisals of the Property, portions thereof, orcomparable property. Such divided proceeds shall be paid intoseparate accounts, with each such account in the name of theAssociation and further identified by the Condominium Omitdesignation and the name of the Owners) and First Nortgageethereof. From each separate account, the Association, me

attorney- in- fact, shall forthwith use and disburse the totalamount of each such account, without contribution from Oneaccount to soother, toward payment of the liens encLsbacing thwCondominium Unit represented by such separate account, in thefollowing orders

30-

e

1) For payment of taxes and special assess -

sent liens in favor of any assessing entity and the customaryexpenses of sale;

2) For payment of the lien of any FirstMortgage;

3) For payment of unpaid Association commonexpense assessments, other assessments, charges and fees, and allcosts, expenses and fees incurred by the Association;

4) For payment of junior liens and encumbrances in the order of and to the extent of their priority; and

5) The balance remaining, if any, shall bepaid to the Owner( @) of the Condominium Unit.

12. 3 Obsolescence.

a) Subject to the provisions of Article EVIIhereof, the Owners may agree that the Common Elements areobsolete and adopt a plan for the renewal and reconstructionthereof. If a plan for the renewal or reconstruction is adopted, notice of such plan shall be recorded in the County of Arapahoe, Colorado, and the expenses of renewal and reconstruction shall bepayable by all of the Owners as a common expense, whether or notthey have previously consented to the plan of renewal and reconstruction. The aforesaid common expense assessment for therenewal and reconstruction of the Common Elements shall be a debtof each owner and a lien on his Condominium Unit, and may beenforced and collected as provided in Section 7. 9 hereof.

b) Subject to the provisions of Article XVIIhereof, relating to the approval of specified percentages ofOwners and / or First Mortgagees, the owners my agree that theCondominium Units are obsolete and that the same should besold. In such instance, the Association shall forthwith recordin the office of the Clock and Recorder of the County ofArapahoe, Colorado, a notice setting forth such facts, and uponthe recordation of such notice executed by the Association' sPresident and Secretary or Assistant Secretary, the entire

Project shall be sold by the Association, as attorney -in -fact forall of the owners, free and clear of the provisions contained inthis Declaration, the Condominium Map, and the Articles OfIncorporation and Bylaws of the Association. The sale proceeds

shall be divided by the Board of Directors of the Association asmore fully provided in Section 12. 2( c) hereof and paid intoseparate accounts, each such account representing one Condomintmmunit. Each such account shall be in the name of the Associationand shall be further identified by the Condominium Unit designation and the name of the owner ( s) thereof. From each separate

31-

M0138vm,364account the Association, as attorney -in -tact, shall Use anddisburse the total amount of each such account, without contribution from one account to another, for the sue purposes and inthe same order as provided in Section 12. 2( c) hereof.

12. 4 Condemnation. If at any time or times during thecontinuance of cronSomTndum ownership pursuant to this Declara- tion, all or any part of the Project shall be taken or condemnedby any public authority, or sold or otherwise disposed of in lieuof or in avoidance thereof, the following provisions of thisSection 12. 4 shall applyw

TAll compensation, damages or other proceeds

therefrom, the m of which is hereafter called the " CondemnationAward,• shall be payable to the Association.

b) In the event that the entire Project is taken, condemned, sold or otherwise disposed of in lieu of or in avoidance thereof, the condominium ownership pursuant thereto shallterminate. The Condemnation Award shall be apportioned among theOwners by the Hoard of Directors of the Association as sore fullyprovided in Section 12. 2( c) hereofw provided, however, that if astandard different from the value of the Project an a whole isemployed am the measure of the Condemnation Award in the negotia- tion, judicial decree or otherwise, then in determining muchshares the same standard shall be employed to the estent it isrelevant and applicable. The Association shall, as soon upracticable, determine the share of the Condemnation Award towhich each Owner is entitled. Such shares shall be paid intoseparate accounts and disbursed, as soon as practicable, in thesame manner an provided in Section 12. 2( c) hereof.

c) subject to the provisions of Article MIhereof, relating to the approval of specified percentages ofOwners and / or First Kortgagees, in the event that less than theentire Project is taken, condemned, sold or otherwise disposed ofin lieu of or in avoidance thereof, the condominium ownershiphereunder shall not terminate. Hach owner shall be entitled to ashare of the Condemnation Award, to be determined in the following manner As soon as practicable, the Association shallreasonably, and in good faith, allocate the Condemnation Awardbetween compensation, damages or other proceeds and shall

apportion the amounts so allocated among the Owners, as follower1) the total amount allocated to taking of or injury to the

General Common Zlements shall be apportioned among the Owners emthe basis of the undivided interest in the Common Elementsappurtenant to each Condominium Unitj ( ii) the total eminent

allocated to severance damages shall be apportioned to those Coa- domi.nius Units which were not taken or condasnedr ( iii) therespective amounts allocated to the taking of or damage to aparticular Condominium Unit, including but not limited to the

32-

eo%Mric( 3E5

Limited Comson Elements appurtenant thereto, and to the improvements an owner has made within his Condominium Unit, shall beapportioned to the particular Condominium Unit involved and ( iv)

the total amount allocated to consequential damages and any othertakings or injuries shall be apportioned as the Associationdetermines to be equitable in the circumstances, or as determinedby judicial decree. Notwithstanding anything to the contrarycontained in this Declaration, the allocation of the Condemnation

Award to each affected Condominium Unit shall be based on thecomparative values of the affected Condominium Units as theyexisted immediately prior to the condemnation, wing suchevidence of the appraised values as is then available, includingbut not limited to recent MAI appraisals of the affected propertyor comparable property. If the allocation of the Condemnation

Award is already established in negotiations, judicial decree orotherwise, then in allocating the Condemnation Award, the

Association shall employ such allocation to the extent it isrelevant and applicable. Apportioned proceeds shall be disbursed, as soon as practicable, in the same manner as provided inSection 12. 2( c) hereof.

d) In the event a partial taking results in thetaking of a complete Condominium Unit, the Owner( s) thereof shallautomatically cases to be a member of the Association, shallcases to hold any right, title or interest in the remaining Com- mon Elements, and shall execute any and all documents necessaryto accomplish the same. Thereafter, the Association shall to-

allocate the ownership, voting rights and assessment ratio inaccordance with this Declaration according to the principlesemployed in this Declaration at its inception, and shall submitsuch reallocation to the Owners and to the First Mortgageem of

all remaining Condominium Units for amendment of this Declarationas provided in Section 14. 1 and Article EVII hereof. The

Condemnation Award as to each such completely taken CondominiumUnit shall be paid into a separate account and disbursed, as wonas practicable, in the same manner as provided in Section 12. 2( c) hereof.

a) Any reconstruction and repair necessitated bycondemnation shall be governed by the procedures specified insection 12. 2 hereof.

ARTICLE XI II

EURDENS AND EENEPITS OF DECLARATION

13. 1 Covenants Running with Pro rt The benefits, burdens, and a of ar pr ov s ions cont,

non this Declaration

shall be covenants running with and binding upon the Property.

33-

13. 2 Bind in U n and Inure to the Successors. The

benefits, burdens an a of ec pcov s ona con s ne in thisDeclaration shall be binding upon, and inure to the benefit ofthe Declarant, the Association and all owners, and upon and totheir respective heirs, executors, administrators, personal

representatives, uccessore and assigns. Any right or anyinterest reserved or contained in this Declaration to or for thebenefit of the Declarant may be transferred or assigned by theDeclarant, either separately or with one or more of such rightsor interests, to any person, corporation, partnership, association or other entity.

ARTICLE XIV

AMENDMENT OF DECLARATION

11. 1 Amendment. The provisions of this Declaration may

be amended, in w Foleor in part, at any time and from time totime, by an Instrument ( which instrument may be executed inIdentical counterparts, in which event all of such counterpartsshall be taken as one and the same instrument of amendment) approved as follows:

a) This Declaration may be amended by an instrument signed by not lose than fifty -one percent ( 51%) of each

class of Members.

b) The foregoing approvals required by Section14. 1( a) hereof shall not be required for, and with respect to, any annexations to this Declaration by the Declarant pursuant tothe provisions of Article M hereof.

14. 2 Amendment b Declarant. Notwithstanding anything

to the contrary contained n this Declaration, if Declarant shalldetermine that any amendments to this Declaration or any amendments to the Articles of Incorporation or Bylaws of the Associa- tion shall be necessary in order for existing or future mortgagesto be acceptable to the Veterans Administration, the FederalSousing Administration of the U. S. Department of Housing andUrban Development, the Federal National Mortgage Association atthe Federal Some Loan Mortgage Corporation, then, subject to thefollowing sentence of this Section 14. 2, Declarant shall have 00hereby specifically reserves the right and power to make a" execute any such amendments without obtaining the approval of theOwners or First Mortgagees. Each such amendment of this Declara- tion or of the Articles of Incorporation or Bylaws of theAssociation shall be made, if at all, by Declarant prior totermination of the Class B membership Ad provided in Section S. 2hereofi and each such amendment must contain thereon the writtenapproval of the Veterans Administration or the Federal HousingAdministration of the U. S. Department of Sousing and Urban

Development.

34-

11. 3 Racordin o! Aae ndaenta. To be effective, all

amendments to t a Dac , rat on must a recorded in the office ofthe Clack and Recorder of the County of Arapahoe, Colorado, andedged

co

andsinotarized esignatures of tall a the showingnes

e

necessary approving

parties.

ARTICLE IV

VETERANS ADMINISTRATION OR FEDERALHOUSING ADMINI TRATION APPROVAL

15. 1 Amendments Dissolutions Mer, erauDi: Ia

nates, Etc. Until sus tae as t e C aes B xm [ P

the

prior writtenwith

provisions

the

Section 5* 2Administration or the

prior r[ Sttan app Of

Federal Housing Administration of tired for

thenfollwing,

Eoua nq

and Urban Development shall be requa) Amendment of this Declarations

b) Amendment of the Articles of Incorporation orthe Bylaws of the Associations

c) Annexation of additional properties to thisDeclarations

d) Dedication or mortgaging of all or any part ofthe Common Elements by the Declarants or

a) Merger, consolidation or dissolution of theAssociation.

ARTICLE YVI

AH1olYATIOM9to the

16. 1 Annexations per avant. Subject enly

prior written approve o tse aterans Administration orHousing andHousing Administration of the D. H. Department of Houainq andUrban Development, u set forth ! n Section 15. 1( c) hereof* theDeclarant shall have

afterAthedatspecifically

of recording of this Dealers- until fire ( S) Yetion in Arapahoe County, Colorado to annex to the pdescriybedfromntime to time any portion Of portions of the property ibis

Bsbibit C attached hereto and incorporated becein Dyreference, and to subject such additional property to the termsand pr of this Declaration.

Each such annexation @ball

bs affected, if at all, in two sta9e63 ( a) lint, by the retard- bein9 in Arapahos County, Colorado of a Statement Of Intention toAnnex, which 60cumant Mall declare the number ofadditional

this

Declaration,

Units whichuadividedDinterest in the6Common Elements which

35-

DGfs'a) ry v stw368shall be appurtenant to each such Condominium Unit upon theannexation thereof, shall provide that, upon the recordation ofsuch Statement of Intention to Annex, each Condominium Unitenumerated in such document shall be and constitute a • Condo- minium Unit,- as defined in this Declaration, but only forpurposes of voting the Association membership votes appurtenantthereto and determining the total number of Association votes, asprovided in Article V hereof, and for purposes of the payment ofassessments and the obligations incident thereto, as provided inArticle VII hereof, and shall further provide ' that, upon therecording of a supplemental Condominium Map in the office of theClerk and Recorder of Arapahoe County, Colorado, showing theCondominium Units described in such Statement of Intention toAnnex, all of the property described in such supplementalCondomini us Map shall be annexed for all purposes to thisDeclaration; and ( b) second, upon the recording of such supplemental Condominium Map, as aforesaid, all of the propertydescribed therein shall thereupon, for all purposes, be annexedto this Declaration and be subject to all provisions containedherein. Annexation, merger or consolidation, if any, willincrease the number of members of the Association. Any Supple- mental Condominium Map recorded pursuant to this Section 16. 1shall be recorded prior to the conveyance by Declarant of thefirst Condominium Unit in the real property described therein.

16. 2 Modification of Undivided Interests. Upon the

Declarant' s annexat ono any i t one property to this Declar- ation by the recording of a Statement of Intention to Annex and supplemental Condominium Map thereof, the undivided interest inthe Common Elements appurtenant to each Condominium Unit ( including all Common Elmments located on the Property described inExhibit A attached hereto, all Common Elements located on theadditional property contained in such annexation and all CommonElements contained in any other property annexed to this Declara- tion prior to such annexation) shall automatically be reduced toA fraction, the numerator of which shall be one and the denominator of which shall be the total number of Condominium Unitsthen subject to this Declaration; and the undivided interest Inthe Common Elements appurtenant to each Condominium Unit described in and annexed by such Statment of Intention to Annex andsupplemental Condominium Map shall be the ease fraction. Such

reduction of undivided interest in the Common Elements appurtenant to a Condominium Unit shall be automatic and no furtherdocumentation need be filed of record or further action need betaken by the Declarant, any owner or any Picot Mortgagee toreflect such modification in undivided interests. The minimum

number of Condominium Units in the Project shall be fifty ( 50) and, accordingly, the maximum undivided interest in CommonElements appurtenant to Condominium Unit shall be 1 / So. The

maximum number of additional Condominium Units which may becontained in properties annexed to this Declaratlo,; shall not

36-

Eoo1 SMIG(369

exceed one hundred s1xtY ( 160) for a maximum number of twohundred ten ( 210) Condominium Units which may be subject to thisDeclaration, and, accordingly, the minimum undivided interest inCommon Elements appurtenant to Condominium Unit shall be 1/ 210.

AS an example only and as a means of illustrating theforegoing modifications of undivided interests, if the number ofCondominium Units initially subject to this Declaration is fifty

50) and it the Declarant shall file a Statement of Intention toAnnex and a . supplemental Condominium Map for the annexation ofadditional property to this Declaration containing one hundredsixty ( 160) Condom inium Units, then the undivided interest in theCommon Elements appurtenant to each of the fifty ( 50) CondominimUnits enumerated in Exhibit B attached hereto shall automaticallybe reduced from 1/ 50 to 1/ 210, and the undivided interest in theCommon Elements appurtenant to each of the 160 Condominium Unitsin such annexed property shall also be 1/ 210.)

16. 3 Ear Addition of neral and Limited Gossson

Elements. Annexat ons to t s Dec acct on pursuant to t c e RVI will contain new additions to the General and Limited

Common Elements, which additions may contain any or all of thetypes of General and Limited Common Elements described inSections 1. 11, 1. 12 and 1. 13 hereof. Notwithstanding any suchannexation, each Owner ( regardless of whether such Owner is theowner of a Condominium Unit enumerated in Exhibit B attachedhereto or is the owner of a Condominium unit contained in annexedproperty) shall remain fully liable in accordance with ArticleVII hereof with respect to his obligations for the payment ofamaeaments, charges and fats of the Association, including the

xpenaes for such now General and Limited Common Elements and newrecreational facilities, costs and fees, it any.

ARTICLE mI

FIRST MORTGAGEES

17. 1 Member and First Morlgagea Axroroval, subject to

Section 16. 2 hareem , set notr t Stan ng any oC ec provisions ofthis Declaration to the contrary, the Association shall note

a) unless it has obtained the prior written con-

sent of at least sixty -seven percent ( 671) of each class ofMembers and sixty -seven percent ( 671) of the First Mortgagees ofCondominium Units ( baud on one vote for each First MortgsgeOwned) i

1) seek to abandon or terminate the Project, whether by act or omission, excepts

37-

wW92Pi, MA) for abandonment or termination provided

by law in the case of substantial destructionby fire or other casualty, or

B) in the case of a taking by condemnationor eminent domain, in which event the provisions of Section 12. 4 of this Declarationshall control) or

c) for amendments to this Declaration, theArticles of Incorporation or By - Laws of theAssociation made as a result of destruction, damage or condemnation of the Property orimprovements thereon]

2) change the pro rata interest or obligations ofany individual Condominium Unit for the purpose oft

A) levying assessments or charges or allocating distributions of hazard insurance proceeds or condemnation awards, or

3) ' determining the pro rata share of ownership of each Condominium Unit in the CommonElements)

3) By act or omission, seek to abandon, partition, subdivide, encumber, sell or transfer theCommon Elements ( excluding the granting of permits, licenses and easements for public utilities, roads

or other purposes reasonably necessary or usefulfor the proper maintenance or operation of theProject) l

1) partition or subdivide any Condominium Unit) or

5) use hazard insurance proceeds for losses toany condominium property ( whether to CondominiumUnits or Common Elements) for other than the

repair, replacement or reconstruction of such con-

dominium property, except as may be provided bystatute in the case of substantial loss to suchCondominium Units and / or Common Elements.

b) unless it has obtained the prior written cot -

sent of at least uventy -five percent ( 751) of each class ofMembers, and fifty -one percent ( 511) of the First Mortgagees ofCondominium Units ( baud upon one vote for each First Mortgageowned) I

38-

r-

80093SUnG)371

1) add or amend any material provisions of thisDeclaration, the Articles of Incorporation or By- Laws of theAssociation, which establish, provide for, govern or regulate anyof the following, provided that any First Mortgagee who receivesa written request to approve any additions or amendments to anyof such documents and who does not deliver or post to therequesting party a negative response within thirty ( 30) daysafter receipt of such a request shall be deemed to have approvedsuch request, and provided that such additions or amendmentsshall not be considered material if they are for the purpose ofcorrecting technical errors or for clarification only, andfurther provided that this subsection ( 1) shall not apply toamendments to this Declaration, the Articles of Incorporation orBY- Laws of the Association, made as a result of destruction, damage or condemnation of the Project or the improvementsthereon, or to a reallocation of interests in the Common Elementswhich might occur pursuant to any plan of expansion or phaseddevelopment contained in this Declaration,

A) votIngI

E) assessments, assessment liens or subordination of such liana!

C) reserves for maintenance, repair 00replacement of those elements of the CommonElements which must be maintained, repaired orreplaced on a periodic basis,

D) insurance, including but not limited tofidelity bonds!

E) rights to use of the Common ElementalF) responsibility for maintenance and

repair of any portion of the Projecto

fi) expansion or contraction of the Projector the addition, annexation or withdrawal ofproperty to or from the Project,

E) boundaries of any Condominium DnitiI) interests in the Common Element)

J) convertibility of Condominium Units intoCommon Element or of Common Elements intoCondominium Units;

E) leasing of Condominium Dnitsi

39-

11 3822P,6 372

L) imposition of any right of first refusalor similar restriction on the right of anyOwner to sell, transfer or otherwise conveyhis Condominium Units

M) any provisions which are for the expressbenefit of First Mortgagee*, or insurors or

guarantors of First Mortgages; or

2) effectuate any decision to terminate professional management and assume self - management of the Associa- tion, when professional management has previously been requiredby any First Mortgagee, insuror or guarantor of such a FirstMortgage;

c) unless it has obtained the prior written consent of at least fifty -one percent ( 511) of the First Mortgageesof Condominium Units ( based upon one vote for each First Mortgageowned):

1) restore or repair the Project, or anyportion thereof, including but not limited toimprovements located thereon, after partial

condemnation or damage due to an insurablehazard, other than substantially in accordancewith this Declaration and the most recentplans and specifications for the Project andthe construction of improvements thereon;

2) terminate the legal status of theProject after substantial destruction or asubstantial taking in condemnation of theProject.

17. 2 notice of Action. Subject to the registration

requirements of act on eraoE, • First Mortgagee shall heentitled to timely written notice oft

a) any condemnation loss or casualty loss whichaffects a material portion of the Project or any Condominium Unitsubject to a First Mortgage held, insured or guaranteed by suchFirst Mortgagee, insuror or guarantor of a First Mortgages

b) any delinquency in the payment of assessmentsor

Condo-

minium Unit subject toAssociation Mortgage

holdofinsured Of

guaranteed by such First Mortgagee, insuror or guarantor, Of onn, , default by such Owner in any obligation under the DeclaratioArticles of Incorporation or By - Laws of the Association and theBoard of Directors of the Association has actual knowledge ofsuch default, when such delinquency and / or default remainsuncured for a period of fifty ( 60) daysv

r, is6

I

c) any lapse, conceliation or material modification of any insurance policy oc- fidelity bond maintained by theAssociation]

d) any proposed action which would require theconsent of a specified percentage of First Mortgagees am providedIn this Article XVII.

17. 3 Audit. At any time after that dati on which theProject has beenispanded, pursuant to Section 16. 1 hereof, toinclude fifty ( 50) or more Condominium Units, the Associationshall provide an audited financial statement for the Immediatelypreceding fiscal year, free of charge to the party so requesting, to any First Mortgagee of a Condominium Unit, oc any insucor orguarantor of such a First Mortgage, within a reasonable timeafter written request therefor made by any such First Mortgagee, insuror or guarantor of such a First Mortgage. So long as theproject includes less than fifty ( 50) Condominium Units, fifty - one percent ( 510) or sore of the First Mortgagees of CondominiumUnits shall be entitled to have such an audited financial statement prepared at their expense if one is not otherwise available.

17. 6 Association Books and Records. She Association

shall make ava a e to ners, First Mortgagees of CondominiumUnits and insuror or guarantors of any such First Mortgage, current copies of this Declaration, and the Articles of Incorp- oration, By -Lars, rules and regulations, books, records andfinancial statements of the Association. She Association shall

make available to prospective purchasers of Condominium Unitscurrent copies of this Declaration, and the Articles of Incor- poration, Bylaws, rules and regulations, and the most recentannual audited financial statement, if such is prepared, of theAssociation. • Available• shall mean available for inspection, upon request, during normal weekday business bouts or under otherreasonable circumstances.

AMCLB IVIII

MIBCBLLAXODUS

18. 1 Period of Condominium ownershi . Sbe condominium

T ast on an t • Condominium Mapownership creashall continue until this Declaration is terminated in any mannerprovided in this Declaration.

I$. I Succlement to Condominium Owne[ ahlo Act. She PC*-

visions of thin c axat on s a n • E raw

The

to the Condominium ownership Act of the State of Colorado, sm itmay be amended from time to ties, and to all other applicableprovisions of law.

41-

nex Iti! ti

Ve

BBO6382 m,374

16. 3 Conve ante of Condcminiu Dnits. All Condom iniwa

units, whether or not L e nstrumant o 0 ayanco or assignmentshall refer to this Declaration, shall be subject to the covenants, conditions, restrictions, easements, reservations, rightsof -way and all other terms and provisions contained in thisDeclaration, as it may be amended from tine -to -time.

18. 4 Exterior Chan as - Architectural. Control ittee

Approval. Except oc t ose mproveaents • recto or nstallDeclarant in its construction and completion of the Project, noexterior additions to, alterations or decoration of any Condo- minium building, including but not limited to any structuralalterations to any condominium Unit or Cosewn Elsent, not anychanges in fences, hedges, walls or other structures, norinstallation of window mounted air conditioning units or anyexterior television, radio or other communication antennas of anytype, shall be commenced, erected, placed or maintained, withoutthe prior written approval of the Architectural Control Committeeof the Raster Association.

16. 5 Enforcement. Enforcement of the covenants, Con-

ditions, retr ct ons, easements, reservations, rightsof -vay,

liens, charges and other provisions contained in this Declar- tion, the Articles of Incorporation or By- Laws of the Associa- tion, as mended, shall be by any proceeding at law or in equityagainst any person or persons violating or attempting to violateany such provision, to enjoin or restrain such violation orattempted violation or to recover damages, or both, and the Asw- ciation and any aggrieved Owner shall have the right to insti- tute, maintain and / or prosecute any such procsedingsl in any suchaction the prevailing party shall be entitled to recover itscoats and reasonable attorneys' fees incurred pursuant thereto.

18. 6 istration of Mailin Addras$. Each owner and

each First Nor gage•, muror oc quaranLar o F! r t Mortgage,

shall register his mailing address with the Association, andnotices or demands intended to be served upon an Owner shall lddelivered by messenger or sent by mail, postage pr W

addressed in the name of the owner, First Mortgages, insuroe orguarantor, as applicable, at such registered address.

18. 7 Ion- Naiver. Failure by the Declarant, the Asso- ciation, anynewerrriat Mortgagee, or any other person orentity to enforce any covenant, condition, restriction, easement,

Declarationshall in

right- of- way

away or eventprovision

be dosed to

contained

he a raivmshof

the right to do so thereafter.

16. 6 Eeverabili! . The provisions of this Declarationshall be deemed to be Independent and severable, and the invalidity of any one or more of the provisions hereof, or any portion

4a-

thereof, by judgment or court order or decree shall in no wayaffect the validity or enforceability of any of the other provisions, which other provisions shall remain in full force andeffect.

18. 9 Number and Gender. Unless the context provides or

requires to t e contrary, t e use of the singular herein shallinclude the plural, the use of the plural shall include the singular, and the use of any gender shall include all genders.

18. 10 Captions. The captions to the Articles andSections and the Table of Contents at the beginning of thisDeclaration are inserted herein only as a matter of convenience

and for reference, and are in no way to be construed to define, limit or otherwise describe the scope of this Declaration or theintent of any provision hereof.

18. 11 Conflicts in Documents. In case of any conflictbetween this Declaration and the Art cles of Incorporation or by- Laws of the Association, this Declaration shall control. In cue

of any conflict between the Articles of Incorporation and By -Lawsof the Association, the Articles of Incorporation shall control. In came of any conflict between this Declaration, theArticles of Incorporation or Bylaws of the Association, and theMaster Declaration, Articles of Incorporation and /or Bylaws ofthe Nester Association, the Master Declaration, Articles ofIncorporation or Bylaws of the Master Association, an appro-

priate, shall control.

IN WITNESS WHEREOF, the undersigned, being the Declarantherein, has hereunto not its hand and seal this ,1 7 / h day of

SBAL)

twr

MEMPHIS DEVELOPHZNTCORPORATION, a Colorado

corporation

By, Ttef

of

a

s o=

cPV

cn`' `•

stiooatQ'

0

1p",1

EXHIZIT A0

JOGGCODIU0: IINIUt4 DECLARATION ^ OR IOOA i!fil A: i - COD: i.0: iJ0: +INICMS

Phase I, Am - Con Condominiums:

A tract of land in the Americana Subdivision, Filing No. 1, Cityof Aurora, County of Arapahoe, State of Colorado, moreparticularly described as follows:

Commencing at the Southeast Corner of said Americana Subdivision; thence N 85 ° 41' 33" W, a distance of 577. 97 £ eat; thence N- 04. 18' 27• E, a distance of 31. 00 feet; thence N BS ° 41' 33" W, a distanceof 46. 00 feet to the point of beginning:

Thence N 04 ° 18' 27" E, a distance of 202. 00 feet; thence N 21. 42' 37" E, a distance of 70. 21 feet; thence S 85 ° 41133' E, a distanceOf 10. 00 feet; thence S 04 ° 18027" V1, a distance of 120. 00 feet; thence S 85. 41' 33" E,

27" E, a distance of 120. 00 feet; thence S 85. 41' 33" E, a distanceof 21. 60 feet; thence N 33. 41' 33• W, a distance of 71. 18 feet; thence : 1 57. 02' 40" F., a distance of 112. 81 feet to a point on acurve to the right, having a radius of 148. 00 feet, an are lengthof 52. 58 feet, and a central angle of 20. 21' 33. 1 thence 6 4e41' 33" E, a distance of 64. 00 feet to a point on a curve to theright, having a radius of 115. 00 feet, an arc length of 152. 54feet, and a central angle of 76• 00' 00 "; thence S 29. 18' 27" N, adistance of 113. 18 feet to a point on a curve to the left, havinga radius of 123. 00 feet, an arc length of 19. 05 feet, and a centralangle of 18 011' 19 "; thence N 78. 41' 33" W, a distance of 45. 69 feetto a point on a curve to the left, having a radius of 116. 00 feet, an arc length of 69. 84 feet, and a central angle of 344301000; thence S 66. 48127" W, a distance of 29. 34 feet to a point on acurve to the right, having a radius of 136. 00 feet, an arc lengthof 65. 27 feet, and a central Angle of 27. 30' 000; thence N 65. 41133" W, a distance of 74. 00 feet to the point of beginning.

45-

RxBIBIT B

CONDOMINIUM DECLARATIONPOA AN - COB CONDOMINIUMS

46-

Cu nl u•

Condoelnl ua ildiBulldlnq Ib, Undlvlded InterestUnl,_ and Street

hddr ese

In

urteonEle ents

AppurtenantI

No. to thezodoeln — l. e

2 3 - 162553 3 - 16255 1 / SO6 3 - 16255 1 / SO5 3 - 16255 1 / 506 3 - 16255 1 / SO7 3 - 15255 1/ 50

3 - 1 / SO9 3 - 16255 1 / 50

10 3 - 16255 1/ 50

11 3 - 16255 1 / 5012 3 - 16255 1 / So

13 3 - 16255 1 / 50

16 3 - 16255 1/ 5015

3016 3 - 16255 1

17 3 - 16255 1/ 5016 3 - 16255 1 / 50

3 - 16255 1 / 50

1 I /SO2 1 - 6973 1 - 197 1/ 506 1 - 697 1/ 505 1 - 697 1 / 50

6 1 - 697 1 / 30

7 1 - 697 1 / 50

9 1 - 697 1/ 509 1 - 697 1 / 5010 1 - 697 1/ 50

11 1 - 197 1 / SO

12 1 - 697 1 / 5013 1 - 697 1 / 50

11 1 - 697 1 / 50

15 1 - 697 1/ 50is 1 - 697 1 / 30

17 1 - 697 1 / 50

1s 1 - 697 1 / 501 - 697 1 / So

1 / SO

46-

Exi. IEIT C

TO

CONDONINIUid DECLARATION r Qe FOR 8888 343"Mlim


A parcel of land located in the north half of Section 17, Township 4 South, Rance 66 West of the 6th Principal Meridian, City of Aurora, County of Arapahoe, State of Colorado, moreparticularly described as £ ollowst

Beginning at the Northeast corner of the Northwest quarter ofsaid Section 17; Thence South 34- 47120" East, a distance of1855. 97 feet to a point on the Northerly right -of -way line ofEast Alameda Avenue; Thence Westerly along said right -of -wayline the following two ( 2) courses and distances. ( 1) North85- 41133" West, a distance of 577. 97 feet to a point of curvet

2) along said curve to the right having a central angle of05' 05130 ", a radius of 3945. 00 feet, and an are length of350. 58 feet; Thence North 09' 23' 57" East, a distance of 277. 73feet; Thence North 00600' 00" East, a distance of 121. 27 feet; Thence South 74- 00' 00" West, a distance of 75. 00 feet; ThenceNorth 16. 00100" West, a distance of 25. 00 feett Thence South74. 00100" West, a distance of 76. 68 feet? Thence Borth 12. 51' 13' East, a distance of 200. 00 feet; Thence North 00. 00' 00' Last, adistance of 366. 10 feet; Thence North 34047120' West, a distanceof 132. 48 feet; Thence North 55 012' 40' East, a distance of 100. 00feet; Thence North 34- 47' 20" West, a distance of 160. 00 feet; Thence North 03' 41' 06" East, a distance of 201. 57 feet to thePOINT OF BEGINNING,

EXCEPTING AND EXCLUDING!

Commencing at the Southeast Corner of said Americana Subdivision. thence N 85041' 33" w, a distance of 577. 97 feet; thence N 04. 15'

27" E, a distance of 31. 00 feet; thence N 85441133" W, a distanceOf 46. 00 feet to the point of beginningt

Thence N 04- 18127" E, a distance of 202. 00 feet; thence N 21. 42' 37" E, a distance of 70. 21 feet; thence S 85- 41' 33" E, distance

of 10. 00 feet; thence S O4- 18127" 4I, a distance of 120. 00 feet; thence 5 85- 41133" E, a distance of 120. 00 feet; thence N 04. 18' 27" E, a distance of 120. 00 feet; thence S 65. 41133' E, a distanceof 21. 60 feet; thence N 33441' 33" W, distance of 71. 18 feedthence : 3 57. 02' 40" F., a distance of 112. 81 feet to a point on A

curve to the right, having a radius of 148. 00 feet, an are lengthof 52. 58 feet, and a central angle of 20421' 33 -; thence S 46. 41'

33" E, a distance of 64. 00 feet to a point on a curve to the

right, having a radius of 115. 00 feet, an arc length of 152. 54feet, and a central angle of 76000' 00 " 1 thence S 29918127' W. adistance of 113. 18 feet to a point on a curve to the left, havinga radius of 123. 00 feet, an arc length of 39. 05 feet, and a centralangle of 18411' 190; thence N 78041' 33" W, a distance of 45. 69 feetto a point on a curve to the left, having a radius of 116. 00 feet, an arc length of 69. 84 fear, and a central angle of 34- 3010003thence 5 66448127' N, a distance of 29. 34 feet to a point on a

c• :rve to the right, having a radius of 136. 00 feet, an are lengthof 65. 27 feet, and a Control angle of 2703010003 thence N 85041' 33"

a cistanee of 7r. 4S feet to the point of teginninc. 48-

EXHIBIT A w 4254'AA25TO

SECOND STATEMENT OF INTENTION TO ANNEX ADDITIONAL LANDTO


FOR

AN- CON CONDOMINIUS

PEASE III, AN -CON CONDOMINIMS,

A tract of land in the Americans Subdivision, Filing No. 1, CityOf Aurora, County of Arapahos, State of Colorado, More particularlydescribed as follow:

Comsencing It the Southeast Corner of said Americans Subdivision; thence N 34047120' W, s distance of 940. 01 post; , thence S 680124404

W, s distance of 48. 42 feet to the point of oaWinning:

Thence S 68012' 40• W, distance of 137. 87 fast; thence S 12000'

004 W. a distance of 38. 78 fait; thence N 65012' 40• E, distance

of 40. 00 fast; thence S 21017' 204 E. distance of 30. 00 fast to

a point on a curve to the right, having a radius of 35. 00 fast, an

art length of 109. 95 feat, end a central angle of 18o000' 00•; thence N 63000' 00• W, a distance of 32. 71 rest; thence 5 12970' 00•

W, a distance of 24. 51 foot; thence S 21048' 274 W, diatence of

75. 91 foot to a point on i curve to the loft, having a radius of108. 00 feat, an art length of 55. 15 fast, and a central Ingle of300521100; thence N 890481274 E. a distance of 215. 00 fast; thence5 32057' 20• E, a distance of 87. 85 fact; thence N 570021400 E, • distance of 102. 81 feet to a point an a curve to the loft, having

radius of 148. 00 fast. on arc length of 1. 65 feat, and a centralIngle of 00038' 27•; there N 25041' 330 W, a distance of 42. 00 fast•

5-

EXHIBIT A CONTINUED

Wt4254fµ4426

to a point on a curve to the left, having radius of 332. 00 feet, an arc length of 52. 70 fast, and a antral angle of 09005' 47-= thence N 34047120" W, • dietana of 89. 00 fast to point on

curve to the left, having a radius of 78. 00 feet, on are lengthof 20. 42 fast, and a antral angle of 150001000; than N 490474

2D" W, s distance of 43. 00 feet to a point on a curve to the right, having • radius of 213. 00 feet, an arc length of 104. 09 fast, anda antral angle of 28030100 "; thence N 21017120" W, a distance of

15. 19 feet to the point of beginning,

6-

EXHIBIT B Door, 4254m 1427TO

SECOND STATEMENT OF INTENTION TO ANNEX ADDITIONAL LAND

TO


FOR


The undivided interest in Common Elements appurtenant to aCondominium Unit shall be a fraction, the numerator of whichshall be one ( 1) and the denominator of which shall be the totalnumber of Condominium Units subject to the Declaration. She

Tundivided interest in Common Elements appurtenant to aCondominium Unit Is subject to being modified by annexations tothe Declaration pursuant to Article XVI thereof.

Undivided InterestIn Common Elements

Condominium Building Street Appurtenant to theUnit No. No. Address Condominum Unit*

1 7 457 S. Memphis Way 1/ 1462 7 457 S. Memphis Way 1/ 1463 7 457 S. Memphis Way 1/ 1464 7 457 S. Memphis Way 1/ 1465 7 457 S. Memphis Way 1/ 1466 7 457 S. Memphis Way 1/ 1467 7 457 S. Memphis Way 1/ 146S 7 457 S. Memphis. Way 1/ 1469 7 457 S. Memphis Way 1/ 146

10 7 457 S. Memphis Way 1/ 14611 7 457 S. Memphis Way 1/ 14612 7 457 S. Memphis Way 1/ 14613 7 457 S. Memphis Way 1 / 14614 7 457 S. Memphis Way 1/ 146

The undivided interest in Common Elements appurtenant to aCondominium Unit shall be a fraction, the numerator of which

shall be one ( 1) and the denominator of which shall be the totalnumber of Condominium Units subject to the Declaration. She

Tundivided interest in Common Elements appurtenant to a

Condominium Unit Is subject to being modified by annexations tothe Declaration pursuant to Article XVI thereof.

m4254F 428

The undivided interest in Common Elements appurtenant to aCondominium Unit shall be a traction, the numerator of whichshall be one ( 1) and the denominator of which shall be the totalnumber of Condominium Units subject to the Declaration. ! b

undivided interest In Coeon Elements appurtenant M aCondominium Unit is subject to being modified by annotations tothe Declaration pursuant to Article EVI thereof.

undivided interestIn Common Elements

Condominium Building Street . Appurtenant to theUnit No. No. Address Condominum unite

1 8 16051 E. Alaska Place 1/ 1462 6 16051 E. Alaska Place 1/ 1463 8 16051 E. Alaska Place 1/ 1464 8 16051 E. Alaska Place 1/ 1465 8 16051 E. Alaska Place 1/ 1466 a 16051 E. Alaska Place 1/ 1467 B 16051 E. Alaska Place 1/ 1466 8 16051 E. Alaska Place 1/ 1469 6 16051 E. Alaska Place 1/ 146

10 B 16051 E. Alaska Place 1/ 146

11 8 16051 E. Alaska Place 1/ 14612 8 16051 E. Alaska Place 1/ 14613 6 16DSI E. Alaska Place 1/ 14614 a 16051 E. Alaska Place 1/ 146 .

1 9 447 S. Memphis May 1/ 1462 9 447 S. Memphis May 1/ 1463 9 447 S. Memphis May 1/ 146

4 9 447 S. Memphis Nay 1/ 1465 9 447 S. Memphis May 1/ 1466 9 447 S. Memphis May 1/ 146

7 9 447 S. Memphis May 1/ 1468 9 447 S. Memphis May 1/ 1469 9 447 S. Memphis May 1/ 14610 9 447 S. Memphis May 1/ 146

11 9 447 S. Memphis May 1/ 14612 9 447 S. Memphis May 1/ 14613 9 447 S. Memphis May 1/ 14614 9 447 S. MemphLa May 1/ 146

The undivided interest in Common Elements appurtenant to aCondominium Unit shall be a traction, the numerator of which

shall be one ( 1) and the denominator of which shall be the totalnumber of Condominium Units subject to the Declaration. ! b

undivided interest In Coeon Elements appurtenant M aCondominium Unit is subject to being modified by annotations to

the Declaration pursuant to Article EVI thereof.

fi

filth ,

t' ` " t nor " ,

saskrei: r•A' fe' Al,' pw; 0

That the undarstgwd owner$ of lots) or P4ra01( 1) Of { rind'situateamd being in the County of Arapahos, State 09, 001er6400 And. Pdn`Nrtiewlarly described as follows, Wo Witt ,

1RGAL TLSCAIPTI011

A tract of land located in Sections 16 wA 17, 445,. UW1 bf the 601P. M. described as follow 4

EE at the Worthoest Comer of Settion 17, 2411 166V of the- 61t% P. M., thence M89036' 27' 4l, 2648. 00 feet along the Worth lima of saidSection 17 to the N 1/ 4 Corner thereof{

Theme N89057' 49' 12, 2652. 79 feet alms the Worth • line Of said Section 17to the Northeast Corner thereof{

Thence 889029156" E, 2656. 62 . sat along the Worth 1Lma of Section 16, T410I66W of the 6th P. H. to the W 1/ 4 Corner therasfI

e

Thence 869032143 11e, 2660. 17 feat Alma idea Worth lino of laid Section 16to the Wortheaat Corner thersofl

Thence 500013' 31141, 2629. 28 fast along the Sat lima of laid Seatien 16to the 1 1/ 4 Corner thereofl

Thence continuing 800013131' 41, 2630. 03 feat alms ti, last line of soldSoetiva 16 to the Southeast Corner thereof{

Thence N890490341% 263$. 13 foot along the South li w. of said / oction 16to the 5 1/ 4 Corner thereof{

Theme X89049' 45° 11, 2635. 03 fast Alma the South 1t, a of said Scotian 16to the Southwest Comer thereof{

Thence S8903E154" V, 2644. 62 feet alms the South % w of said Nctiw 17to the S 1/ 4 Corer thereof

Theme 3890811' 40N, 2643. 12 fast dons the south lima of Bald Section 17to the Southwest Corner thermal

Theme 1100031144' 41, 2644. 75 fat stoma the Wet lima of said Section 17 " to the W 114 Corner thereof{

A

Theme N00014' 47" V, 2640. 35 test alms the Vest If" of slid Seaties 17to, the POINT CV EICTXN1110.

Sscept the Vast 30 foot of said Notion 17 as described in Deed recordedIn gook A33, Nee 100.

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Par eberdves, theta kale$, ameuaor$, adelnistrataa sad $ sale, eePesAeeand sort* nit% TU CITP OY AOROM, CKADAW, the $ TATS 09 00LOUN amd the }{ OMITIO STASIS Of AMLICA, or ay other 5ver btal AS mrT er 4P47teset ofany of the dorestated political entities or political subdivisions, that •'' p•

the owners err occupants of the leads bsrein described shall haw se rightor came of Action, either to lee of in Nulty, for damages or injury is anyperson or property Arising out of or resulting: diractly of Laclrmotly, from the owafligbt of aircraft, of for damages or Well to my Manes ofproperty rowel time from omit* or nuisance of amy hind or 4saripties Imp .. solttxLdLreetly or tndireetly, few siveraft oferfllghts above a Plansewe husdrad fifty fast ( 750 It.) , bows around level{ Provided, that

nothing contained Ln the fareping Co+e0601 $ ball divest the $ anon ' rmwpaats, their heirs, successor,. AAmini$trators er assigns, of myright of asnss of motion fo diseases to may Person or PraPsrcy Isseltiegfare the nogilgeot operation of aircraft overflights over the describedpreeinos at my Altitm,4 above { laud level,

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Aa. ,',.'hc.: ?: ':, Shf• emmne 84011 ru vtth the Iced aM„

N ' i 14VA ,.' e.rk property * wet otniAg, my o!. the 104C21'f OTObWi COLORADO, If hereby aosi9sted 4

4 rdsardinj the.," forrescent or re>toval of the vttl

IN V41 IS V911Or the undersigned owert,) that? h4Ade egd * tali thi'es• j dey ei

lTATZ Of COLORADO....) m.

County of_ 1n4ary ^ C )

7fie foregoing Co. Omst we ockawr} edt! d b4fora^ thle_ ltyA der ofThe .

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ptAli)'' R Itmn my bend sad official goal. rJ

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NOtery pub i

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County of j go. She lonpiaR Cnrwnt we ackoem ledgod before eo this day ofYr , 197jby J. Thawed State as President mad1 4RDd = -. -- ee. tnennry o Crwn rropertiw, In.

Ritmes up heed end Official 9041.

1 COMMISSION 0apimt A& ! 9. Yr

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lTATZ Of COLORADO....) m.

County of_ 1n4ary ^ C )

7fie foregoing Co. Omst we ockawr} edt! d b4fora^ thle_ ltyA der ofThe .

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ptAli)'' R Itmn my bend sad official goal. rJ

omte4lm ogls4ot1. u, w rJ7

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NOtery pub i

fTATI Of COLORWV .... )

County of j go. She lonpiaR Cnrwnt we ackoem ledgod before eo this day ofYr , 197jby J. Thawed State as President mad1 4RDd = -. -- ee. tnennry o Crwn rropertiw, In.

Ritmes up heed end Official 9041.

1 COMMISSION 0apimt A& ! 9. Yr

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wK3822 PJW338after the Association shall have given notice to such owner of

the total amount, or any portions thereof, from time to time, tobe indemnified, then the failure to so indemnify shall be adefault by such owner under the provisions of this Section 10. 2and such amount to be indemnified shall utomatically became adefault assessment determined and levied against such Condominiom

Unit, and the Association may proceed in accordance with Section7. 9 hereof.

10. 3 Effect of Pert Pa went. In the event a lienattributable to abor per orme an or materiels jur nished on theProject, or any portion thereof, is effected against two or moreCondominium Units, the Owner( s) of any of the affected Condo- minium Units my pay to the lienholder the amount of the lionattributable to such Owner' s Condominium Unit and the lienholdershall release such Condominium Unit from the lien. The mount

required to be paid by any such owners in order to obtain releaseof their Condominium Unit from any such lien shall be equal tothe quotient of ( i) the amount of the lien, divided by ( ii) thetotal number of Condominium Units affected by the lien. Partial

payment and release of any such lien with respect to any Condo- minium Unit( s) shall not prevent the lienholder from enforcinghis rights against any Condominium Unit for which payment has notbeen received.

ARTICLE % I

EASEMENTS

11. 1 Recorded Easements. In addition to all easements

and rights -of -way of record at or before the recording of thisDeclaration, the Property, and all portions thereof, shall besubject to the easements as shown on any recorded plat of theProperty, or any portion thereof, and as shown on the recordedCondominium Map.

11. 2 Encroachments. In the event that any portion of

the Common Elements— ene[ oacEon upon any Condominium Unit( s) or inthe event that any portion of a Condominium Unit encroaches uponany other Condominium Unit( s) or upon any portion of the CommonElements, or in the event any encroachment shall occur in thefuture as a result of, ( i) settling of a Condominium building, or ( ii) alteration or repair to the Common Elements, or ( iii) repair or restoration of one or more Condominium Buildings and /or

Condominium unit( s) - after damage by fire or other casualty, orcondemnation or eminent domain proceedings, then, in any of saidevents, a valid easement shall exist for the encroachment and forthe maintenance of the same so long as the encroachment exists. In the event that any one or more of the Condominium Units, Con- dominium Buildings or other improvements comprising part of theCommon Elements, are partially or totally destroyed and are ssb-

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uoi3822 P, 4 359

sequently rebuilt or reconstructed in substantially the sasslocation, and as a result of such rebuilding or reconstructionany portion thereof shall encroach as provided in the precedingsentence, a valid easement for such encroachment shall thanexist. Such encroachments and easements shall not be consideredor determined to be encumbrances either on the Common Elements oron the Condominium Units for purposes of marketability of titleor other purposes. In interpreting any and all provisions ofthis Declaration, subsequent deader mortgages, deeds of trust orother security instruments relating to Condominium Units, theactual location of a Condominium Unit shall be deemed con - clusively to be the property intended to be conveyed, reserved orencumbered, notwithstsndlnq any minor deviations, either borison- tally, vertically or laterally, from the location of such Condo - mini.um unit as indicated on the Condominium Map.

11. 3 Ewer eCel : ae[ ment•£ i a 9protectiones ambulance andgranted to all po

streetseandlupon the Common Elements in theseproper performanceofall

their duties.

11. 4 Maintenance Easement. An easement is hereby

Ito' o the asoc at on, is o cars, agents, employees and

assigns upon, across, over, in and under the Common Elements a right to ma usetoofperform others duties

Elements

andafunekiow

be

necessary or appropriate R

which 1t is obligated or permitted to perform pursuant to thisDeclaration, including the right to construct and maintain on theCommon Elements maintenance and storage facilities for use by theAssociation.

11. 5 Drains a Easement. An easement is hereby granted

to the Assoc ia on, t o can, agents, employees, successors

and assigns to enter upon, across, over, in and under any portionof the Property for the purpose of changing, correcting or otherwise modifying the grade or drainage channels of the Property was to improve the drainage of water on the Property.

11. 6 Easements of Access for EeFair, Maintenance endE" rgeeneiu . a o t e Common Elements are or may bs lcc ted

diwwTth ; n In . vidual Air space Units or may be conveniently accessible only through Individual Air Space Units.

The Owners of

Individualother

right, to be exercised byathe Association

h

as their agent, to hs"

access to each

Elaments from time

individual

vtilme during suchl

h reasonabllee hours as

yubn

necessary for the maintenance, repair, removal oc replaeeswmt ofany of the Common Elaments located therein or accessible therm - vent, damagefor to the Common liniments

orsto any

Individualsnecessary to

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W(38nt1( -;3E0Unit. The Association shall also have such right, independent ofany agency relationship. Subject to the provisions of Section6. 2 hereof, damage to the interior of any part of an IndividualAir Space Unit resulting from the maintenance, repair, emergencyrepair, removal or replacement of any of the Common Elements oras a result of emergency repairs within any Individual Air SpaceUnit at the instance of the Association or any Owner, shall be anexpense of all the Owners. Non - emergency repairs shall be madeonly during regular business hours on business days after twenty - four ( 21) hours notice to the occupants of the Individual AirSpace Unit wherein such repairs are to be made, except where theoccupant have no objections to earlier entry for repairs. In

emergency situations the occupants of the affected Individual AirSpace Unit shall be warned of impending entry des early as isreasonably possible.

11. 7 Declarant' s RS hts Incident to Construction.

Declarant, for al • n is succeste sors • n assigns, herebyretains a right and easement of ingress and egress over, in, upon, under and across the Common Elements and the right to storematerials thereon and to make such other use thereof as may bereasonably necessary or incidental to the complete constructionof the Project; provided, however, that no such rights shall beexercised by Declarant in such a way as to unreasonably interferewith the occupancy, use, enjoyment or access by any Owner, hisfamily members, guests or invitees to or of his Condominium Unitor the General Common Elements.

11. 5 Easements Deemed Created. All conveyances of Con-

dominium Units ea ter made, w et he[ by the Declarant or otherwise, shall be construed to grant and reserve the easements contained in this Article XI, even though no specific reference tosuch easements or to this Article XI appears in the instrumentfor such conveyance.

ARTICLE XII


12. 1 Association as httorne - in -Pact. This Declaration

does hereby make man atory t irrevocaole appointment of an

attorney- in- fact to deal with the Project in the event of itsdestruction, damage, obsolescence or condemnation, including therepair, replacement and improvement of any Condominim Units, Condominium buildings, Common Elements or other portions of theProject which have been destroyed, damaged, condemned or becomeobsolete. Title to any Condominium Unit is declared andexpressly made subject to the terms and conditions hereof, andacceptance by any grantee of Deed or other instrument of con-

veyance from the Declarant or from any Owner or grantor shallconstitute appointment of the attorney -in -fact herein provided.

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KA822rw;361All of the Owners irrevocably constitute and appoint the Associa- tion as their true and lawful attorney in their name, place andstead, for the purpose of dealing with the Project upon itsdamage, destruction, obsolescence or condemnation, as is hereinafter provided. As attorney -in -fact, the Association by itsPresident and Secretary or Assistant Secretary, or its other dulyauthorized officers and agents, shall have full and complete

authorization, right and power to make, execute and deliver anycontract, deed or other instruments with respect to the interest

of an owner which are necessary and appropriate to exercise thepowers herein granted. In the event that the Association is dis- solved or becomes defunct, a meeting of the Owners shall be heldwithin thirty ( 30) days after either such event. At such meetinga new attorney -in -fact, to deal with the Project upon itsdestruction, damage, obsolescence or condemnation, shall be

appointed. Such appointment must be approved by the Ownersrepresenting an aggregate ownership interest of sixty -six andtwo - thirds percent ( 66 - 2/ 3 %) or more of the Common Elements and

at least seventy -five percent ( 75 %) of the First Mortgagees of

condominium units.

12. 2 Damage or Destruction. - Repair and reconstruction-

of the improvements, as usea inthe succeeding subparagraphs, means restoring the improvement( s) to substantially the same condition in which they existed prior to their damage or destruction, with each Condominium Unit and the General and Limited

Common Elements having substantially the same vertical and bori- zontal boundaries as before, and all improvements being reconstructed or repaired in substantial conformance with theProject' s original architectural plan and scheme, to the extent

then reasonably and economically feasible. The proceeds of anyinsurance collected shall be available to the Association for thepurpose of repair, reconstruction, restoration or replacement, inaccordance with the provisions hereinafter set forths

a) In the event of damage or destruction due tofire or other adversity or disaster, the insurance proceeds, ifsufficient to repair or reconstruct the improvement( s), shall be

applied by the Association, as attorney -in -tact, to such repairand reconstruction, and the improvenont( s) shall be promptlyrepaired and reconstructed. The Association shall have fullauthority, right and power as attorney -in -fact to cause therepair and reconstruction of the improvement( s). Assassments forcommon expenses shall not be abated during the period of Snsut- once adjustments and repair and reconstruction.

b) If the insurance proceeds are insufficient torepair and reconstruct the improvoent( s), such daage or

destruction shall be promptly repaired and reconstructed by theAssociation am attorney -in -fact, using the proceeds of insuranceand the proceeds of a special assessment, to be node, notwithw

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Ku3b22r x! 362

standing anything to the contrary contained in Section 7. 6hereof, without a vote of the owners, against all of the ownersand their Condominium Units. Such special assessment shall be

calculated in accordance with able not sooner than

thirtyn(30)

days!, and shall be due and pry

ful

written s

l authority right and

thereof.

g power, as attorney-incl fact, to cause

the repair, replacement or restoration of the improvement( s), usingstanding

all

failure

insurance

an

proceeds

owerrdto

for

pay suchthe aforesaidespecial

assessment. The special assessment provided for herein shall bea debt of each owner and a lien on his Condominium Unit, and maybe enforced and collected as provided in Section 7. 9 hereof, including the provisions therein pertaining to the payment ofinterest, late charges, costs and expenses.

Assessments for

common expenses shall not be abated during the period ofinsurance adjustment and repair and reconstruction.

c) Notwithstanding the foregoing provision ofthis Section 12. 2 and subject to the provisions of Article ZVlihereof, the owners may agree not to repair or reconstruct theimprovementsi in such event, the Association shall forthwithrecord at notice in the office of the Clerk and Recorder of thethenrecordrecordation of such! notice executed forththe Association Presi- dent and Secretary or Assistant Secretary, the entire Projectshall he sold by the Association pursuant to the provisions ofthis Section, as attorney- in -tact for 11 of the owners, free andclear of the provisions contained in this Declaration, the CoDdo-

inium Map, and the Articles of incorporation and Bylaws of theAssociation. Assessments for common expenses shall not be abatedproceeds

shallrbe collectedcted

to

by therAssociation, combined with allale proceeds, and all such proceeds shall be divided intoportions by the Association,

each portion representing one

Condominium Unit, with the amount of each portion to be reasonably, and in good faith, allocated by that board of Directors ofthe Association to each Condominium Unit based on the oomperativevalue of the Condominium Units as they existed immediately priorto the damage and destruction, using such evidence of theappraised values as is then available, including but

totlimitoc

to recent MAI appraisals of the Property, po icomparable property. Such divided proceeds shall be paid intoseparate accounts, with each such account in the nssw of the

further

designation and the name of the ownr(s) h Condominium

and lir

iNoctgagea

thereof. Prom tdallseparate

thwlthcuse tendtddi sbucaitheom6tal

attorney -in -fact, amount of each such account, without contribution from oneaccount to another, toward payment of the lima encumbering theCondominium Unit represented by such separate account, in thefollowing oatfimrr

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0 ...

IC338MJ613M

1) For payment of taxes and special assessment liens in favor of any assessing entity and the customaryexpenses of sale

2) For payment of the lien of any FirstMortgage;

3) For payment of unpaid Association commonexpense asaessments, other asseaasents, charges and ten, and allcosts, expenses and fees incurred by the Association]

a) For payment of junior liens and encumbrances in the order of and to the extent of their priorityi and

5) The balance remaining, if any, shall bepaid to the Owner( s) of the Condom inius Unit.

12. 3 Obsolescence.

a) Subject to the provisions of Article SVIIhereof, the owners may agree that the Common Elements areobsolete and adopt a plan for the renewal and reconstructionthereof. If a plan for the renewal or reconstruction is adopted, notice of such plan shall be recorded in the County of Arapahoe, Colorado, and the expenses of renewal and reconstruction shall bepayable by all of the owners an common expense, whether or not

they have previously consented to the plan of renewal and reconstruction. The aforesaid common expense assessehnt for therenewal and reconstruction of the Common Elements shall be a debtof each owner and a lien on his Condominim Unit, and say beenforced and collected as provided in Section 7. 9 hereof.

b) Subject to the provisions of Article SVIIhereof, relating to the approval of specified percentages ofowners and /or First Mortgagees, the owners may agree that theCondominium Units are obsolete and that the same should beGold. In such instance, the Association shall forthwith recordin the office of the Clerk and Recorder of the County ofArapahoe, Colorado, a notice setting forth such facts, and uponthe recordation of much notice executed by the Association' sPresident and Secretary or Assistant Secretary, the entireProject shall be sold by the Association, as attorney -in -fact forall of the owners, free and clear of the provisions contained inthin Declaration, the Condominium Map, and the Articles ofIncorporation and Bylaws of the Association. The sale proceeds

shall be divided by the Board of Directors of the Association esmore fully provided in Section 12. 2( c) hereof and paid intoseparate accounts, each such account representing one CondomininlUnit. Each such account shall be in the name of the Asaociat vnand shall be further identified by the Condominium Unit designation and the name of the Owners) thereof. From each separate

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account the Association, as attorney - in -fact, shall use and

disburse the total amount of each such account, without oontribu- n account SectionoC ahereof.

posas an0 In

thesaorder asprovided in 122( c)

12. 1 Condemnation. If at any time or times during thecontinuance of eon ownership pursuant to this Declaretion, all or any pert of the Project shall be taken or oondemmedby any public authority, or sold or otherwise disposed of in lieuof or in avoidance thereof, the following provisions of thisSection 12. 1 shall apply)

a) All compensation, damages or other proceedstherefrom, the sum of which is hereafter called the ' CondemnationAward,` shall be payable to the Association.

b) In the event that the entire Project is taken,

aannceamthe , eof ldthe eondominius ownership pursuant £thereto ashallterminate. She Condemnation Award shall be apportioned among_ the

Ownersovidedy in sectionn 12D2( c)c h eofp providediabowver, mthat if lastandard different from the value of the Projact u whole L

employed dmeasure Condemnation Award g

judicial decree or otherwise, then in determining suehshares the same standard shall be employed to the extent it isrelevant and applicable. She Association shall, as son aspracticable, determine the share of the Condemnation Award towhich each owner is entitled. Such shares shall be paid intoseparate accounts and disbursed, as soon as practicable, in thesue manner as provided in Section 12. 2( e) hereof.

c) subject to the provisions of Article =VIIhereof, relating to the approval of specified percentages ofowners and / or Pirst Mortgagees, in the event that less than theentire Project is taken, condemned, sold or otherwise disposed ofin lieu of or in avoidance thereof, the condominium ownershiphereunder shall not terminate. Each owner shall be entitled to share of the Condemnation Award, to be determined in the follow- Lag manner% As soon as practicable, the Association shallreasonably, red Sn good faith, allocate the Condemnation Awardbetween compensationr damages or other proceeds and shallapportion the mounts so allocated among the owners, as foliowat

1) the total amount allocated to taking of or injury to tMGeneral Common Elements shall be apportioned among the owners acethe basis of the undivided interest in the Common E1011emtsappurtenant to each Condominium Units ( ii) the total amount

allocated to severance damages shall be apportioned to those Cm- dominium Units which were not taken or eondemnedt ( 111) the

respective amounts allotted to the taking of or dm ge to aparticular Condominium Unit, including but not limited to the

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uOS2Pr14 5

Limited Common Elements appurtenant thereto, and to the improvements an owner has made within his Condominium Unit, shall beapportioned to the particular Condominl um Unit involvedl and ( iv) the total amount allocated to consequential dosages and any othertakings or injuries shall be apportioned as the Associationdetermines to be equitable in the circumstances, or as determinedby judicial decree. Notwithstanding anything to the contrarycontained in this Declaration, the allocation of the CondemnationAward to each affected Condominium Unit shall be based on thecomparative values of the affected Condominium Units as theyexisted immediately prior to the condemnation, using such

evidence of the appraised values as is then available, includingbut not limited to recent MAI appraisals of the affected propertyor comparable property. If the allocation of the Condemnation

Award is already established in negotiations, judicial decree orotherwise, then in allocating the Condemnation Award, the

Association shall employ such allocation to the extent it isrelevant and applicable. Apportioned proceeds shall be disbursed, as soon as practicable, in the same manner as provided inSection 12. 2( c) hereof.

d) In the event a partial taking results in thetaking of a complete Condominium Unit, the Owner( s) thereof shallautomatically cease to be a member of the Association, shallcease to hold any right, title or interest in the remaining Com- mon Elements, and shall execute any and all documents necessaryto accomplish the same. Thereafter, the Association shall re-

allocate the ownership, voting rights and assessment ratio inaccordance with thin Declaration according to the principlesemployed in this Declaration at its inception, and shall submitsuch reallocation to the owners and to the First Mortgagees ofall remaining Condominium Units for amendment of this Declarationas provided in Section 1 4. 1 and Article XVII hereof. The

Condemnation Award as to each such completely taken CondominiumUnit shall be paid into a separate account and disbursad, as soonas practicable, in the same manner as provided in Section 12. 2( 0) hereof.

e) Any reconstruction and repair necessitated bycondemnation shall be governed by the procedures @pacified inSection 12. 2 hereof.

ARTICLE XIII

EURDENE AND BENEFITS OF DECLARATION

13. 1 Covenants Runnin with Pro amt . The benefits,

burdens, and a of • r Pr ov s ono oont ne n this Declaration

shall be covenants running with and binding upon the Property.

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I Sindin D n and. Inure to the Successors. The

benefits, burdens an a of er prow a ons come n in LhL

Declaration shall be binding upon, and inure to the benefit ofthe Declarant, the Association and all owners, and upon and totheir respective heirs, executors, administrators, personal

representatives, successors and assigns. Any right or any

interest reserved or contained in this Declaration, to or for thebenefit of the Declarant may be transferred or assigned by theDeclarant, either separately or with one or more of such rightsor interests, to any person, corporation, partnership, association or other entity.

ARTICLE % IV

AMENDMENT OF DECLARATION

14. 1 Amendment. The provisions of this Declaration maybe Amended, in woe or in part, at any time and from time totime, by an instrument ( which instrument may be executed inidentical counterparts, in which event all of such counterpartsshall be taken as one and the same instrument of amendment) approved as follows:

a) This Declaration may be Amended by an instrument signed by not less than fifty -one percent ( 51%) of each

class of Members.

b) The foregoing approvals required by Section14. 1( a) hereof shall not be required for, and with respect to, any annexations to this Declaration by the Declarant pursuant tothe provisions of Article rvi hereof.

14. 2 Amendment b Declarant. Notwithstanding anything

to the contrary contained n t Dec oration, it Declarant Anall

determine that any Amendments to this Declaration or any Amend- ments to the Articles of Incorporation or Bylaws of the AasoeLA- tion shall be necessary in order for existing or future mortgagesto be acceptable to the Veterans Administration, the FederalHousing Administration of the U. S. Department of Housing and

thenFederal Rome

WaneNor gaga Corporation ' then,

Association or

to the

following sentence of this Section 14. 2, Declarant shall have andhereby specifically reserves the right and power to take mmdexecute any such Amendments without obtaining the approval of theowners or First Mortgagees. Each such Amendment of this Declara- tion or of the Articles of Incorporation or Bylaws of theAssociation shall be made, if at all, by Declarant prior totermination of the Class B membership as provided in Section 5. 2hereof; and each such Amendment must contain thereon the writtenapproval of the veterans Administration or the Federal HousingAdministration of the U. S. Department of sousing and Urban

Development.

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sco138221161367

14.; Recordin of Amendments. To be effective, all

amendments to t s Dec ace! on must _recorded in the office o!

the Clerk and Recorder of the ou tythereof shoving Ctheracknowndmust contain evidence of approvaledged and notarised signatures of all the necessary approvingparties.

ARTICLE 1CV

VETERANS ADMINISTRATION OR FEDERALSOUSING ADMINI TRATION APPROVAL

15. 1 Amendments Dissolutions Mer era DodiCAtiOns , Etc. Until suct Mike as t e C ass E mem rs p thetion 5. 2in accordance with

provisionsis oVeterans e Administcatlonecor theprior written approval

Fand

UrbanoDevelopmenti shallibe requird £or

thea£ ollowingrEOUSng

a) Amendment of this Declarations

b) Amendment of the Articles of Incorporation orthe Eylaws of the Association$

c) Annexation of additional properties to, this

Declaration$

d) Dedication or mortgaging of all or any part ofthe Common Elements by the Declarant; or

a) Merger, consolidation or dissolution of theAssociation.

ARTICLE Zvi

ANNEXATIONS

16. 1 Annexations Dec & rant. Subject only athe

prior written approve o t s starans Administration o[ Federalsousing Administration of the D. S. Department of SousingUrban Development, es set forth in Section 15. 1( c) hereof, theDeclarant shall have and hereby specifically reserves the rightuntil five ( 5) year* after the date of recording of this Declsraunti in Arapahoe County, Colorado to annex to the Propertyp

from

intion

time to time any portion or portions of the Property describethisExhibit C attached hereto and incorporated herein byrduence, and to subject such additional property to the termsand provisions of this Declaration. Each such annexation mallbe effectd, if at all, in two stages: (

a) first,

ing in Ar&Pahoe County, Colorado Of a statement of Intention toAnnex, which document shall declare the number ofadditiomal

this

Declaratia,

thetDeclarant

uadividd interest iintends

thCommon slsenas wblcb

D5-

ac-AS 2,"'X8shall be appurtenant to each such Condominium Unit upon theannexation thereof, shall provide that, upon the recordation ofsuch Statement of Intention to Annex, each Condominium Unitenumerated in such document shall be and constitute a - Condo- minium Unit,.• as defined in this Declaration, but only forpurposes of voting the Association membership votes appurtenantthereto and determining the total number of Association votes, asprovided in Article V hereof, and for purposes of the payment ofassessments and the obligations incident thereto, as provided inArticle VII hereof, and shall further provide . that, upon the

recording of a supplemental Condominium Map in the office of theClerk and Recorder of Arapahoe County, Colorado, shoving theCondominium Units described in such Statement of Intention toAnnex, all of the property described in such supplementalCondominium Map shall be annexed for all purposes to thisDaclarationi and ( b) second, upon the recording of such supplemental Condominium Map, as aforesaid, all of the propertydescribed therein shall thereupon, for all purposes, be annexedto this Declaration and be subject to all provisions containedherein. Annexation, merger or consolidation, if any, willincrease the number of members of the Association. Any Supple- mental Condominium Map recorded pursuant to this Section: 16. 1shall be recorded prior to the conveyance by Declarant of thefirst Condominium Unit in the real property described therein.

16. 2 Modification of Undivided Interests. Upon the

Declarant' s annexat ono any s t one property to this Declar- ation by the recording of a Statement of Intention to Annex and asupplemental Condominium Map thereof, the undivided interest inthe Common Elements appurtenant to each Condominium Unit ( including all Common Elements located on the Property described inExhibit A attached hereto, all Common Elements located on the

additional property contained in such annexation and all CommonElements contained in any other property annexed to this Declara- tion prior to such annexation) shall automatically be reduced to

fraction, the numerator of which shall be one and the denominator of which shall be the total number of Condominium Unitsthen subject to this Declaration; and the undivided interest inthe Common Elements appurtenant to each Condominium Unit described in and annexed by such Statment of Intention to Annex andsupplemental Condominium Map shall be the same fraction. Such

reduction of undivided interest in the Casson Elements appurtenant to Condominium Unit shall be automatic and no furtherdocumentation need be filed of record or further action need betaken by the Declarant, any Owner or any Pirst Mortgagee toreflect such modification in undivided interests. The minimum

number of Condominium Units in the Project shall be fifty ( SO) and, accordingly, the maximum undivided interest in CommonElements appurtenant to a Condominium Unit shall be 1 / 50. The

maximum comber of additional Condominium Units which may becontained in properties annexed to this Declaration shall not

36-

m38Vtjm3b9

exceed one hundred sixty ( 160) for a maximum number of twohundred ten ( 210) Condominium Units which may be subject to thisDeclaration, and, accordingly, the minisum undivided interest inCanon Elements appurtenant to a Condominium Unit shall be 1/ 210.

As an example only and as means of illustrating the

foregoing modifications of undivided interests, if he number ofCondominium Units initially subject to this Declaration is fifty

50) and if the Declarant she 11 file a statement of Intention toAnnex and a supplemental Condominium Map for the annexation ofadditional property to this Declaration containing one hundredsixty ( 160) Condominium Units, then the undivided interest in theCommon Elements appurtenant to each of the fifty ( 50) CondominiumUnits enumerated in Exhibit B attached hereto shall automaticallybe reduced from 1/ 50 to 1/ 210, and the undivided interest in theCommon Elements appurtenant to each of the 160 Condominium UnitsIn such annexed property shall also be 1/ 210.)

16. 7 New Addition ofD

al and Limited

laments. Annexat ons to t at on pursuant toMISt e e xv2 will contain new additions to the General and Limited

Common Elements, which additions may contain any or all of thetypes of General and Limited Common. Elements described insections 1. 11, 1. 12 and 1. 13 hereof. Notwithstanding any suchannexation, each Owner ( regardless of whether such Owner is theowner of a Condominium Unit enumerated in Exhibit E attachedhereto or is the owner of a Condominium Unit contained in annexed

VI1 hereofs with respect

fullythis

payment

liable

obligations foraccordancethe iArticle

assessments, charges and fees of the Association, including theexpenses for such new General and Limited Common Elements and newrecreational facilities, costs and fees, if any.

ARTICLE xVII

FIRST MORMAGEES

17. 1 Member and First Nor! • • e A roval. subject to

section 14. 2 hereof, but notr t ! tan ng anY of er provisions ofthis Declaration to the contrary, the Association shall Doti

a) unless it has obtained the prior written 000- sent of at least sixty -seven percent ( 676) of each class OfMembers and sixty -maven percent ( 676) of the First Mortgagees ofCondominium Units ( baud on one vote for each First Mortgageowned) e

1) seek to abandon or terminate the Project, whether by act or omission, except,

37-

3822P11,1370A) for abandonment or termination provided

by law in the caw of substantial destructionby fire or other casualty, or

B) in the case of a taking by condemnationor eminent domain, in which event the provisions of Section 12. 4 of this Declarationshall controls or

c) for amendments to this Declaration, theArticles of Incorporation or By - Lars of theAssociation made as a result of destruction, damage or condemnation of the Property orimprovements thereonm

2) change the pro gets interest or obligations of

any individual Condominium Unit for the purpose ofi

A) levying assessment& or charges or allocating distributions of hazard insurance proceeds or condemnation awards, or

B) determining the pro rata share of ownership of each Condominium Unit in the CocoonElements)

i) By act or omission, seek to abandon, partition, subdivide, encumber, well or transfer theCommon Elements ( excluding the granting of permits, licensee and easements for public utilities, roadsor other purposes reasonably necessary or usefulfor the proper maintenance or operation of theProject))

4) partition or subdivide any Condominium Unityor

5) use hazard insurance proceeds for losses toany condominium property ( whether to CondominiumUnits or Common Elements) for other than therepair, replacement or reconstruction of such Con- dominium property, • : capt as may be provided bystatute in the case of a ubatantial loss to suchCondominium Units and /or Common Elements.

b) unless it has obtained the prior written oom-

sent of at least seventy - tive percent ( 15e) of each class ofmembers, and fifty -one percent ( 51%) of the First Mortgagees of

Condominium Units ( based upon one vote tog each First mortgageowned) t

1B-

r—

uw3E22notWl

1) add or amend any material provisions of thisDeclaration, the Articles of Incorporation or By -Law of theAssociation, which establish, provide for, govern or regulate anyof the following, provided that any First Mortgages who roo of

a written request to approve any additions or amendments to anyof such documents and who does not deliver or post to therequesting party a negative response within thirty ( 30) da after receipt of such a request shall be deemed to have approvedsuch request, and provided that such additions or sendsentsshall not be considered material if they are for the purpose ofcorrecting technical errors or for clarification only, and

further provided that this subsection ( 1) shall not apply toamendments to this Declaration, the Articles of Incorporation orBy -Laws of the Association, made an a result of destruction, damage or condemnation of the Project or the improvementsthereon, or to a reallocation of interests in the Common Elementswhich might occur pursuant to any plan of expansion or phaseddevelopment contained in this Declarations

A) voting,

B) assessments, assessment liens or subordination of such liana,

C) reserves for maintenance, repair andreplacement of thou elements of the CommonElements which must be maintained, repaired orreplaced on a periodic basis,

D) insurance, including but not limited tofidelity bonds,

E) rights to use of the Common Elements,

F) responsibility for maintenance andrepair of any portion of the Projects

U) expansion or contraction of the Projector the addition, annexation or withdrawal ofproperty to or from the Project,

E) boundaries of any Condominium Unit,

I) interests in the Common ilementsl

J) convertibility of Condom iniom units intoCommon Elements or of Comon Elmnts intoCondominium Units,

E) leasing of Condominium Units,

39-

ux3M ttb: 372

L) imposition of any right of first refusalor similar restriction on the right of anyowner to sell, transfer or otherwise conveyhis Condominium Unit;

M) any provisions which are for the expressbenefit of First Mortgagees, or insurers orguarantors of First Mortgages; or

2) effectuate any decision to terminate professional management and assume self - management of the Associa- tion, when professional management has previously been requiredby any First Mortgagee, insurer or guarantor of such a FirstMortgage;

c) unless it has obtained the prior written Con- sent of at least fifty -one percent ( 51%) of the First Mortgagess

of Condominium Units ( based upon one vote for each First Mortgageowned):

1) restore or repair the Project, or anyportion thereof, including but not limited toimprovements located thereon, After a partialcondemnation or damage due to an insurablehazard, other than substantially in accordancewith this Declaration and the moat recentplans and specifications for the Project andthe construction of improvements thereont

2) teninate the legal status of theProject after substantial destruction or asubstantial taking in condemnation of theProject.

17. 2 Motice of Action. Subject to the registration

requirements of ect on ereof, a First Mortgagee shall beentitled to timely written notice of,

a) any condemnation loss or casualty loss whichaffects material portion of the Project or any Condominium Unitsubject to a First Mortgage held, insured or guaranteed by suchFirst Mortgagee, insurer or guarantor of A First Mortgagee

b) any delinquency in the payment of assessmentsor charges owed to the Association by the owner of the Condo -

inium Unit subject to a First Mortgage held, insured or

guaranteed by such First Mortgagee, insurer or guarantor, or anydefault by such owner in any obligation under the Declaration, Articles of Incorporation or Sy - Laws of the Association and theboard of Directors of the Association has actual knowledge ofsuch default, when such delinquency and / or default remsinsuncured fez a Period of sixty ( 60) days;

t

w- 3822h473e) any lapse, eoncellatlon or material modifica-

tion of any insurance policy or fidelity bond maintained by theA• sociatLoni

d) any proposed action which would require theconsent of a specified percentage of First Mortgagees as providedin this Article XVII.

17. 3 Audit. At any time after that date' on which theProject has bein expanded, pursuant to Section 16. 1 hereof, toinclude fifty ( 50) or more Condomini= Units, the Association

shall provide an audited financial statement for the immediatelypreceding fiscal year, free of charge to the party so requesting, to any First Mortgagee of a Condominium Unit, or any lnsuror orguarantor of such a First Mortgage, within a reasonable timeafter written request therefor made by any such First Mortgages, ineuror or guarantor of such a First Mortgage. so long Am theproject includes less than fifty ( 50) Condominium Units, fifty - one percent ( 511) or more of the First Mortgagees of CondominiumUnits shall be entitled to have such an audited financial statement prepared at their expense if one is not otherwise available.

17. 4 Association Books and Records. She Association

shall make available to ners, r rat lbrtgagees of CondamimimaUnits and insucors or guarantors of any such First Mortgage, current copies of this Declaration, and the Articles of Ineo[ p- oration, By -Laws, rules and regulations, books, records andfinancial statements of the Association. She Association shall

make available to prospective purchasers of Condominium Unitscurrent copies of this Declaration, and the Articles of Iaoor- poration, Bylaws, rules and regulations, and the most recentannual audited financial statement, if such is prepared, of theAssociation. • Available• shall mean available for inspection• upon request, during normal weekday business hours or under otherreasonable circumstances.

ARSICIJ XVIII

MI/ ILLAMODS

15. 1 Period of Condo in i a Ovnarshi . She Condominium

ownership creat • c uat on an ... Condominiom Map

shall continue until this Declaration is terminated in any Eamesprovided in this Declaration.

15. 1 / uoclemeLA to Condominium Ownerahim hot. She pro-

visions of this c ar at on IFa 1 be in addition am supplementalto the Condominium ownership Act of the State of Colorado, as itmay be amended from time to time, and to all other applicableprovisions of law.

41-

M3822 474

18. 3 Conve ance o[ Condos iniva Units. All Condominium

Unite, whether or not t e nstrument o conveyance or assignmentshall refer to this Declaration, shall be subject to the covenants, conditions, restrictions, easements, reservations, rightsof -way and all other teras and provisions contained in thisDeclaration, as it may be amended from time -to -time.

18. 1 Exterior Chan as - Architectural Control Ccaittea

Approval. Except or t ose pr ovements erect or nstall

Dec grant in its construction and completion of the Project, aoexterior additions to, alterations or decoration of any Condo- minium Building, including but not limited to any structuralalterations to any Condominium Unit or Common Elmant, not anychanes ininstallation fof c window mounted wallsair conditioning

structures,

units or any

exterior television, radio or other communication antennas of anytype, shall be commenced, erected, placed or maintained, withoutthe prior written approval of the Architectural Control Committeeof the master Association.

18. 5 Enforcement. Enforoement of the covenants, Con -

ditions, rstr ct ens, easements, reservations, rightm -of -way,

liens, charges and other provisions contained in this Declats- tion, the Articles of Incorporation or By - Laws of the Assmia- tion, as mended, shall be by any proceeding at low of in equityagainst any person or persons violating or attempting to violateany such provision, to enjoin or restrain such violation orattempted violation or to recover damages, or both, and the Also- ciation and any aggrieved owner shall have the right to iasti- tute, maintain and / or prosecute any such proceedingsf in any suchaction the prevailing party shall be entitled to recover itscosts and reasonable attorneys' fees incurred pursuant thereto.

18. 6 Registrationn

uesc 9 no

each First mortgages, s uror n a Pat mortgage,

shall register his mailing address with the haaociation, andnotices or demands intended to be served upon an owner shall iddelivered by messenger or sent by mail,

postage pr W

Firstaddressed in the name the Owner, isterWmortgages, insurer or

guarantor, as applicable,

tbO

18. 7 Eon-6ai F ist Nottgagtt,

orel o

any othsr persone[

ciation, any

entity to enforce any coveneat, condition, restriction, easement, reservation, right -of -ray or other provision contained in thisDeclaration shall in no way or event be deemed to be a waiver ofthe right to do so thereafter.

18. 8 Severabilit . She provisions of this Declaration

shall be deems to n ependent and severable, and the invalidity of any one or more of the provisions hereof, or any pox

Iy-

ther eo£, by judgment or court order or decree shall in no wayaffect the validity or enforceability of any of the other provisions, which other provisions shall remain in full force andof f act.

18. 9 Number and Gender. Unless the contest provides or

requires to t e contrary, the use of the singular herein shallinclude the plural, the use of the plural shall include the singular, and the use of any gender shall include all genders.

18. 10 Cavtione. The captions to the Articles andSections and the Table of Contents at the beginning of thisDeclaration are inserted herein only as a matter of convenienceand for reference, and are in no way to be construed to define, limit or otherwise describe the scope of this Declaration or theintent of any provision hereof.

18. 11 Conflicts in Documents. In case of any conflict

between this Dec arat on an t e Art Iles of Incorporation or By- Laws of the Association, this Declaration shall control. In cue

of any conflict between the Articles of Incorporation and By -Lawsof the Association, the Articles of Incorporation shall control. In case of any conflict between this Declaration, theArticles of Incorporation or Bylaws of the Association, and theMaster Declaration, Articles of Incorporation and /or Bylaw ofthe Master Association, the Master Declaration, Articles OfIncorporation or Bylaws of the Master Aasociation, as sppro- prince, shall control.

IN WITNESS WHEREOT, the undersigned, being the Declarantherein, has hereunto set its hand and seal this I n day of

C` r' n - r' l

SEAL) MEMPHIS DEVELOPMENTCORPORATION, a Colorado

corporat /ion

ATTEST:

By: /

SawN1

11 ' • S` oat + ''

0a9 a o9tact \o cf ati• 1

p CO 19 /'

1 • \ ati as91,

of V4, "'a1 & ' c

44

a

ottt` c

6 c a

4c° c *

aps

yl

a

r

E%HIZIT AO

pCONDOMINIUM ] ECLARATION POR MIX3S2rflif ]

A:!- COY, CO:LJONINII'MS

Phase I, Am - Con Condominiums:

A tract of land in the Americana Subdivision, Filing No. 1, CityOf Aurora, County of Arapahoe, State of Colorado, moreparticularly described as follows:

Commencing at the Southeast Corner of said Americana Subdivision; thence N 85 041133" W, a distance of 577. 97 feet; thence N 04. 18' 27" E, a distance of 31. 00 feet; thence N 85 441' 33" W, a distanceof 46. 00 feet to the point of beginning:

Thence CI 04 ° 18' 27" E, a distance of 202. 00 feet; thence N 21. 42' 37" E, a distance of 70. 21 feet; thence 5 85 ° 41' 33" E, a distanceOf 10. 00 feet; thence S 04 ° 18127" We a distance of 120. 00 feet; thence S 85 041133" E, a distance of 120. 00 feet; thence N 04. 18' 27' E, a distance of 120. 00 feet; thence S 85. 41' 33" E, a distanceof 21. 60 feet; thence N 33 041' 33" W, a distance of 71. 18 feet; thence N 57. 02140" F., a distance of 112. 81 feet to a point on acurve to the right, having a radius of 148. 00 feet, an arc lengthOf 5 2. 58 feet, and a central angle of 20. 21133"; thence S 46. 41' 33" E, a distance of 64. 00 feet to a point on a curve to theright, having a radius of 115. 00 feet, an arc length of 151. 54feet, and a central angle of 76000100"; thence S 2981B' 27' M, a

distance of 113. 18 feet to a point on a curve to the left, havinga radius of 123. 00 feet, an are length of 39. 05 feet, and a centralangle of 18 611' 19 "; thence N 78. 41133" W, a distance of 45. 69 feetto a point on a curve to the left, having a radius of 116. 00 feet, an arc length of 69. 84 feet, and a central angle of 34. 30' 000; thence S 66. 48127" W, a distance of 29. 34 feet to a point on acurve to the right, having a radius of 136. 00 feet, an arc lengthof 65. 27 feet, and a central angle of 27. 30' 00" 7 thence N 85841' 33" W, a distance of 74. 00 feet to the point of beginning.

45-

46-

L - 1

WOMP MEXHIBIT BTO

CONDOMINS DBCLAAATIONlOA AM- CON CDNDONINIDNS

CondominiumuaCondominiumunit

Building No, and Str

undivided InterestIn Common lmmentaN0, pt

Addreee No Appurtenant to the1

Condpein - 0n1`

3 3 - 162553 3 - 16755 1/ 50

43 - 16255 1/ 50

5 3 - 16255 1/ 50

6 3 - 15255 1 / SO

7 3 - 16255 1/ 50

S 3 - 16255 1/ 50

9 3 - 16255 1/ 50

10 3 - 16255 1/ 50

113 - 16255 1/ 50

123 - 16255 1/ 50

133 - 16255 1/ 50

14 3 - 16255 1/ 50

153 - 16255 1/ 50

16 3 - 16255 1/ 50

173 - 16255 1/ 50

163 - 16255 1/ 503 - 16255 1/ 50

1 1/ 50

2 1 - 497

3 1 - 497 1/ 50

4 1 - 497 1/ 50

5 1 - 497 1 / 50

5 1 - 497 1 / SO

7 1 - 497 1 / 50

6 1 - 497 1/ 50

9 1 - 497 1/ 50

10 1 - 497 1/ 50

11 1 - 497 1/ 50

12 1 - 497 1/ 50

13 1 - 497 1/ 50

14 1 - 497 1/ 50

15 I - 497 1/ 50

16 1 - 497 1/ 50

17 1 - 497 1 / SO

16 1 - 497 1/ 501 - 497 1 / SO

1/ 50

46-

L - 1

IEIT C

TO

CONDO!! INIU,'-I DECLARATION f Q FOR " 30"" 610W

Ai -CON CONDOMINIUMS

A parcel of land located in the north half of Section 17, Township 4 South, Ranee 66 West of the 6th Principal Meridian, City of Aurora, County of Arapahoe, State of Colorado, moreparticularly described as follows:

Beginning at the Northeast corner of the Northwest quarter ofsaid Section 17; Thence South 34 047' 20" East, a distance of1855. 97 feet to a point on the Northerly right -of -way line ofEast Alameda Avenue; Thence Westerly along said right -of -wayline the following two ( 2) courses and distances: ( 1) North85 ° 41133" West, a distance of 577. 97 feet to point of curve;

2) along said curie to the right having a central angle of05' 05' 30', a radius of 3945. 00 feet, and an arc length of

350. 58 feet; Thence North 09. 23' 57' East, a distance of 277. 73feet; Thence North 00' 00' 00' East, a distance of 121. 27 feet; Thence South 74 ° 00' 00" West, a distance of 75. 00 foots ThenceNorth 16. 00100" West, a distance of 25. 00 feet; Thence South74' 00100" West, a distance of 76. 68 feet; Thence North 12. 51113" East, a distance of 200. 00 feet; Thence North 00' 00' 00' East, distance of 368. 10 feet; Thence North 34947' 20' Nest, a distanceof 132. 48 ! set; Thence North 55012' 40" East, a distance of 100. 00feet; Thence North 34. 47' 200 West, a distance of 160. 007 feet; Thence North 03' 41' 06" East, a distance of 201. 57 feet to thePOINT OF BEGINNING,

EXCEPTING AND EXCLUDING:

Commencing at the Southeast Corner of said Americana Subdivisior. thence Y 85041' 33" 9;, a distance of 577. 97 feet; thence N 04018' 27" E, a distance of 31. 00 feats thence N 85141133" N, a distanceof 46. 00 feet to the point of beginning:

Thence N 04018' 27' E, a distance of 202. 00 feet; thence N 21. 42' 37' E, a distance of 70. 21 feet; thence S 85. 41133" E. a distanceof 10. 00 feet; thence S 04018' 27" W, a distance of 120. 00 feet; thence S 85. 41' 33" E, a distance of 120. 00 feet; thence N 04. 16' 27" E, a distance of 120. 00 feet; thence S 85. 41133' E. a distanceof 11. 60 feet; thence N 33' 41132" W, a distance of 71. 18 footsthence : i 57' 02' 40" F., a distance of 112. 61 feet to a point on acurve to the right, having a radius of 148. 00 feet, an are lengthof 52. 58 feet, and a central angle of 20021133 "; thence 6 46. 41' 33" E, a distance of 64. 00 feet to a point on a curve to theright, having a radius of 115. 00 feet, an arc length of 152. 54feet, and a central angle of 76. 00100'; thence 6 29•.! 6' 27' N. Adistance of 113. 18 feet to a point on a curve to the loft, having

radius o." 123. 00 feet, an arc length of 39. 05 foot, and a centralangle of 18' 11' 19"; thence M 78041' 33" N, a distance of 45. 69 footto a point on a curve to the left, having a radius of 116. 00 feet, an arc length of 69. 84 feet, and a central angle Of 34. 30' 00'; thence S 66' 48' 27' N, a distance of 29. 34 foot to a point on a

ur;e to the right, having a radius of 136. 00 feet, an arc lengthcf 65. 21 foot, and a central angle of 27' 30100"; thence N 85. 41133"

a cistanoe of 7i6,. 0 fees to the point Df beginning.

48-

N 1.

FIRST STATEMENT OF INTESTIOS

TO ANNEX ADDITIONAL LANDTO MASTER DECLARATION

OF COVENANTS, CONDITIONS AND RESTRICTIONSOF AMERICANA

FNOW ALL MEN BY THESE PRESENTS:

THAT, WHEREAS, MEMPHIS DEVELOPMENT CORPORATION, aColorado Corporation ( " Declarant ") has heretofore executed andcaused to be recorded a certain Master Declaration of Covenants, Conditions and Restrictions of AMERICANA, recorded in the officeof the Clerk and Recorder of the County of Arapahoe, State ofColorado ( the - Declaration') ( terms which are defined in theDeclaration shall have the same meaning herein unless otherwisedefined); and

WHEREAS, Article X, Section 4 of the Declaration permitsthe annexation of additional property thereto by Declarant untilfive ( 5) years after the date of recording of the Declaration, subject to the approval of the Veterans Administration or theFederal Housing Administration of the U. S. Department of Housingand Urban Development, which annexation may be effected byrecording a Statement of Intention to Annex Additional Land and asupplemental Condominium Map in the office of the Clerk andRecorder of the County of Arapahoe, Colorado; and

WHEREAS, Article X, Section 4 of the Declarationprovides further that each Statement of Intention to AnnexAdditional Land to be recorded in Arapahoe County, Colorado shallprovide the following information with respect to the property tobe annexed to the Declaration:

1. That the Declarant intends to annex to thisDeclaration 54 additional Condominium Units, to be located on t. eproperty described on Exhibit A attached hereto and incorporatedherein by this reference and enumerated on Exhibit H attactlec; hereto and incorporated herein by this reference; and

WHEREAS, this First Statement of Intention to AnnexAdditional Land contains hereon the approval of the VeteransAdministration.

WOW, THEREFORE, effective upon the recording of thisFirst Statement of Intention to Annex Additional Land in the

office of the Clerk and Recorder of the County of Arapahoe, Stateof Colorado, pursuant to the Declaration, the Declarant herebyaffirms its intention to annex to the Declaration the prope: t5described on Exhibit A attached ' hereto and the condominium unitse-, : neraced on Exhibit s attached hereto, and declares that each

s condoninivi units shall be and constitute a • COndomini=

I

eorx3883 '., 47

Unit ", as defined in the Declaration, but on: y for purp -Ees ofvoting the Master Association membership votes appurtenanttnereto and determining the total number of Master Associationvotes, as provided in Article III of the Declaration, and forpurposes of the payment of assessments and the obligationsincident thereto, as provided in Article IV of the Declaration.

FURTHER, upon the recording of a supplemental Condo - minium Map in the office of the Clerk and Recorder of ArapahoeCounty, Colorado, pertaining to the property described in ExhibitA attached hereto and shoving the Condominium Units described onExhibit B attached hereto, all of the property described on saidExhibit A shall be annexed for all purposes to the Declaration.

IN WITNESS WHEREOF, Declarant has hereunto set its handand seal this /, day of 1 !• i_, 1983.

ATTEST:

BA

MEMPHIS DEVELOPMENT CORPORATION

a Colorado corporation

By:

STATE OF COLORADO 1 ts. COUNTY OF / ; b*'.'-' L

The foregoing instrument was acknowledged before me thisday of i i , 1983, by •. /.. , .

as 7. / s. .• ',, of MEMPHIS DEVELOPMENT CORPORATION, a

Colorado corporation. 1WITNESS my hand and official seal.

My commission expires: •' -

Address of Notary: " ' ,'' -.• '"

I ..... ,, oo Notary blic

r. m1

a P tD •

1: 3HK? • , 48

VETERANS ADMINISTRATION APPROVALTae VETERANS ADMINISTRATION nereby approves

onca cne aforesaid First Statement of Intention Co Annex Addand csentssent: Land to Master Declaration of Covenants, Conditions end Restric- tions of Americana.

IN WITNESS WHEREOF, the said Veterans Administration hascaused its lame to be hereunto Subs ezi ed by iGS autnorizedrepresentative this a day of ., 1983.

STATE OF COLORADO

COUNTY OF

VETERANS ADMINISTRATION

By. /l

Ti t1e: r..... !.. t • 1.

1 ss.

The foregoing instrument was aq771i day ofs. - 19 by ' I led.9ed be ; or e me thisof the Veteran Adminsstration,

r 'IEVas

WITNESS my hand and official seal. My commission expires:_/ '%

Address of Notary:

A.

3-

Not ry u lic

MaXIMUM Property Management2851 S Parker Rd, Suite 840Aurora, CO 80014

V

Notice of Association Address Declaration for Am -ConCondominium Association, Inc.

The Declaration for the Am -Con Condominium Association, Inc. was recorded with theArapahoe County Clerk and Recorder' s office on March 24, 1983 at reception number2259793 is hereby updated to reflect the Association' s current address for foreclosurenotification.

The address for the Am -Con Condominium Association, Inc as of this date is:

Am -Con Condominium Association, Inc

c/ o Maximum Property Management2851 S. Parker Road Suite 840

Aurora, CO 80014 ArapaW. Lounly Clark 8 Rnw 6,, Nancy A. OolyReception #: 88003922

Rer.eipl ° : 5176501 necordiuy roe: ; 6. 00

Peg.. NeeOa a Recorded: L/ 6/ 200B 1: 9652 PMExecuted the — day of , d T , 2008 111111 IN 11111 011111111 X111! 11111111111111 IN

Am -Con Condominium Association, Inc

By Maximum Property Management

State of Colorado)

County of Arapahoe)

The foregoing instrument was acknowledged before me this 7l

day ofCl/(G

Witness My Hand and Seal

My commission expires:

Notary Public

2851 S Parker Rd, Suite 840

Aurora, CO 80014

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