Summary. Declaration. For. Walden Ridge

Transcription

1 Summary Declaration For Walden Ridge

2 Table of Contents IMPORTANT INFORMATION... 1 INTRODUCTION... 1 ARTICLE I DEFINITIONS... 1 DISCLAIMER... 1 SECTION 1 ASSOCIATION... 1 SECTION 2 BOARD OF DIRECTORS... 1 SECTION 3 COMMON ELEMENTS... 1 SECTION 4 DECLARANT... 2 SECTION 5 LIMITED COMMON ELEMENTS... 2 SECTION 6 LOT... 2 SECTION 7 OWNER... 2 SECTION 8 PLAT... 2 SECTION 9 PROPERTY... 2 SECTION 10 TRUSTEE... 2 SECTION 11 UNIT... 2 SECTION 12 WALDEN RIDGE OWNERS ASSOCIATION... 2 ARTICLE II PROPERTY RIGHTS, EASEMENTS AND RESTRICTIONS... 3 SECTION 1 OWNERSHIP OF COMMON ELEMENTS... 3 SECTION 2 ENCROACHMENT... 3 SECTION 3 EASEMENTS... 3 (a) Easement in Gross... 3 (b) Right to Grant Easement... 3 (c) Declarant's Reserved Easement... 3 (d) Utility Easements... 3 (e) Easements Created in the Agreement Run with the Land... 3 (f) Owners' Easement of Enjoyment... 3 (g) Agreements with Concord Baptist Church... 4 (h) Winter Brothers Material Company Site... 4 (i) Future Development... 4 (j) Lift Station... 4 (k) Flood Plane... 4 SECTION 4 CONVEYANCE OF COMMON ELEMENTS... 4 SECTION 5 STREETS... 4 SECTION 6 PERSONAL RESIDENCE... 4 SECTION 7 LIVESTOCK/ANIMALS... 5 SECTION 8 PARKING REGULATIONS... 5 SECTION 9 OVERHEAD WIRING... 5 SECTION 10 CLOTHESLINES, TRASH CONTAINERS, TANKS, WOODPILES, RUBBISH, ETC SECTION 11 FUEL TANKS... 5 SECTION 12 TEMPORARY STRUCTURES... 5 SECTION 13 STRUCTURES... 6 SECTION 14 FENCES... 6 SECTION 15 ANTENNAS/SATELLITE RECEIVING DISHES... 6 SECTION 16 SIGNS... 6 SECTION 17 LANDSCAPING... 6 SECTION 18 NUISANCES... 6 SECTION 19 LEASES... 6 Page i

3 SECTION 20 RULES AND REGULATIONS... 7 ARTICLE III BOARD OF DIRECTORS, MEETINGS, AND VOTING RIGHTS... 7 SECTION 1 BOARD OF DIRECTORS... 7 (a) Original Directors... 7 (b) Election of Directors... 7 (c) Qualifications of Directors... 7 (d) Officers... 7 SECTION 2 MEETINGS OF THE ASSOCIATION... 8 SECTION 3 QUORUM... 8 SECTION 4 NONPROFIT CORPORATION... 8 SECTION 5 VOTING CLASSES... 8 (a) Class A... 8 (b) Class B... 8 (c) Proxies... 8 ARTICLE IV MAINTENANCE ASSESSMENTS... 8 SECTION 1 GENERAL... 8 SECTION 2 PURPOSE... 9 SECTION 3 ANNUAL ASSESSMENT... 9 SECTION 4 SPECIAL ASSESSMENT... 9 SECTION 5 NOTICE AND QUORUM FOR ASSESSMENT MEETINGS... 9 SECTION 6 UNIFORM RATE OF ASSESSMENT... 9 SECTION 7 COMMENCEMENT OF ANNUAL ASSESSMENTS SECTION 8 NONPAYMENT OF OR DELINQUENT ASSESSMENTS SECTION 9 SUBORDINATION OF THE LIEN MORTGAGE SECTION 10 ASSESSMENT FOR ORDINANCE COMPLIANCE ARTICLE V EXTERIOR MAINTENANCE, INSURANCE, UTILITIES AND TRASH REMOVAL SECTION 1 EXTERIOR MAINTENANCE SECTION 2 INSURANCE...11 SECTION 3 UTILITIES SECTION 4 TRASH REMOVAL ARTICLE VI PARKING ARTICLE VII ARCHITECTURAL CONTROL AND OTHER COMMITTEES SECTION 1 ARCHITECTURAL CONTROL COMMITTEE Applicability (a) Additions, Changes, or Alterations (b) Fees for Review (c) Guidelines SECTION 2 OTHER COMMITTEES ARTICLE VIII PARTY WALLS SECTION 1 GENERAL RULES OF LAW TO APPLY SECTION 2 SHARING OF REPAIR AND MAINTENANCE SECTION 3 DESTRUCTION BY FIRE OR OTHER CASUALTY SECTION 4 WEATHERPROOFING SECTION 5 RIGHT TO CONTRIBUTION RUNS WITH THE LAND ARTICLE IX STAGED DEVELOPMENT ARTICLE X GENERAL PROVISIONS Page ii

4 SECTION 1 ENFORCEMENT SECTION 2 SEVERABILITY SECTION 3 MORTGAGE RIGHTS SECTION 4 DURATION SECTION 5 AMENDMENT SECTION 6 ATTORNEY'S FEES SECTION 7 ARBITRATION SECTION 8 INDEMNIFICATION SECTION 9 COMPLIANCE WITH LAWS, ETC SECTION 10 POWERS OF THE ASSOCIATION SECTION 11 EMINENT DOMAIN SECTION 12 PEU CLAUSE INDEX Page iii

5 Important Information This document has been created to put the Walden Ridge Declaration in readable form. In all cases, the official Declaration governs and is the final authority on the terms of the Declaration, and if there are any discrepancies between the information in this document and the Declaration, the Declaration of Covenants, Conditions, Easements, Restrictions and Disclosures of Walden Ridge will control. Amendments and regulations are used to keep the Declaration current. Each amendment and regulation relates to a particular Article and Section of the Declaration. The Index of the lists the current amendments and regulations and the part of the Declaration to which they relate. Introduction Walden Ridge has been developed as a Planned Environment Unit. St. Louis County requires a Planned Environment Unit to have a declaration. This declaration was created by Greater Missouri Builders to impose mutually beneficial restrictions for the benefit of all Owners. It establishes a method for the governance, administration, maintenance, preservation, use and enjoyment of the property. Disclaimer Article I Definitions These definitions do not have the same meaning as they do for condominiums. Section 1 Association Association refers to the Walden Ridge Owners Association which is incorporated as a nonprofit corporation. Section 2 Board of Directors The Board of Directors are the Trustees or Board Members for the Association. Section 3 Common Elements Common Elements are the portions of Walden Ridge subdivision which are not defined as a Lot. The Association has authority over Common Elements. Some examples of Common Elements are (a) Property not located on a Lot, such as easements, subsurface drains, sidewalks, entrance monuments, street lights, common grounds, Page 1

6 retention walls. Walden Ridge (b) Items located in utility easements, such as sanitary and storm sewers, including lift stations; lines and connections for gas, electricity, telephone, water, plumbing; cable television or satellite wires. (c) Any item that solely serves a particular Lot is not a common element. Section 4 Declarant Declarant is the creator of this declaration. Greater Missouri Builders created this declaration. Section 5 Limited Common Elements Limited Common Elements are Common Elements that lie partially within and partially outside of a Lot. Stoops, patios, driveways and decks are owned by the Lot Owners but are considered Limited Common Elements so that the Board of Directors can require maintenance of the same. Section 6 Lot A Lot is a parcel of land in the Walden Ridge subdivision upon which a single residence is located. Section 7 Owner An Owner is the name that is recorded on the public records of the County for a Lot in the Walden Ridge subdivision. Section 8 Plat Plat is the survey that describes Walden Ridge subdivision. Section 9 Property Property is the real property of Walden Ridge subdivision. Section 10 Trustee See Section 2 of this Article. Section 11 Unit A Unit is any portion of a building that is intended for independent residential occupancy and that is located on a lot in the Walden Ridge subdivision. Section 12 Walden Ridge Owners Association See Section 1 of this Article. Page 2

7 Article II Property Rights, Easements and Restrictions Section 1 Ownership of Common Elements The Common Elements are owned by the Association. Section 2 Encroachment If, due to construction, settlement or shifting, any part of a Unit is damaged so that a part of it extends into a Common Element or another Lot, the Owner whose Unit is damaged has the right to enter upon the Common Element or other Lot in order to repair his Unit. Section 3 Easements (a) Easement in Gross The Association has the authority to enter a Unit or upon a Lot in order to perform the obligations and duties required by the Declaration. An order, signed by one of the Board members, must be exhibited in order to gain entrance. In an emergency, an order is not required. Retaining walls, regardless of their location, are the responsibility of the Association, as long as they were installed by the Association. (b) Right to Grant Easement The Board of Directors can grant to utility companies, municipal agencies or Lot Owners access to a Lot or Unit as the Board deems appropriate. (c) Declarant's Reserved Easement This referred to Greater Missouri Builders and is no longer applicable. (d) Utility Easements The Association has control over all utility easements. The utility easements are recorded in the office of the St. Louis County Recorder of Deeds. (e) Easements Created in the Agreement Run with the Land All easements are binding upon the Association and all Owners. (f) Owners' Easement of Enjoyment Since all Owners are members of the Association, every Owner, who is current in the payment of the annual assessment, has access to the Common Elements. However, the following provisions apply Page 3

8 (1) an admission can be charged for access to any recreational facility (2) the Association can suspend an Owner's access if an Owner is not complying with the Declaration or any published Rules or Regulations (3) the Association can transfer all or any part of the Common Elements to any institution, trustee, agency, authority or utility only after a simple majority of the Owners agree to the transfer (4) Owners have the exclusive use of allocated parking spaces, if any (g) Agreements with Concord Baptist Church Concord Baptist Church has a twenty (20) foot wide access to their property. In addition, the Association has an agreement with the Church to have the Walden Ridge sign on the Church's property. (h) Winter Brothers Material Company Site The Winter Brothers Material Company has a permit to extract sand and gravel from a site west of Walden Ridge and Concord Baptist Church. (i) Future Development Greater Missouri Builders has the right to develop the property south of Walden Ridge. (j) Lift Station A lift station has been constructed between lots 28 and 29. (k) Flood Plane A 100 year flood plane runs parallel to the rear of Lots 32 through 35. None of these Lots are in the flood plane. Section 4 Conveyance of Common Elements This referred to Greater Missouri Builders and is no longer applicable. Section 5 Streets All streets are maintained by St. Louis County. Section 6 Personal Residence The Units on each Lot are single-family residences. No commercial activity of any kind shall be conducted on any Lot or in any Unit. St. Louis County Page 4

9 ordinances govern residential occupation. Section 7 Livestock/Animals No animals, other than non-vicious house pets, shall be brought onto or kept on any Lot or in any Unit. No more than one house pet, except for fish or birds, may be kept on a Lot or within a Unit without written permission of the Board of Directors. Pet waste on Lots and Common Elements is to be removed immediately. If it is not, the Owner is subject to a fine. Owners are responsible for the pets of their guests. Section 8 Parking Regulations No commercial vehicles, jet skies, boats, trailers or recreational vehicles shall be parked in Walden Ridge except in the Lot Owner's garage. No trucks in excess of one-half ton shall be parked in Walden Ridge except during periods of approved construction on a Lot. The parking prohibition does not apply to vehicles parked for no more than twelve (12) consecutive hours for the purpose of providing commercial services to a Lot or Unit. Section 9 Overhead Wiring No power, telephone, cable or other service lines may be erected or maintained above the surface of the Common Elements or a Lot without the written consent of the Board of Directors. Section 10 Clotheslines, Trash Containers, Tanks, Woodpiles, Rubbish, Etc. Clotheslines, trash containers, tanks, and other similar items shall not be visible from streets and neighboring Lots. Owners shall not permit rubbish to accumulate on their Lots. Trash containers shall not be placed curbside except on the day of pickup and shall be stored by dusk. Woodpiles shall not be located in Walden Ridge. Section 11 Fuel Tanks No fuel tank, except a propane tank attached to a portable grill, shall be maintained on a Lot without the written consent of the Board of Directors. Section 12 Temporary Structures No temporary structure shall be used on any Lot. A storage facility for equipment or supplies needed to maintain the Common Elements may be erected after approval by a simple majority of Owners. Page 5

10 Section 13 Structures Walden Ridge No structures of any kind is allowed in Walden Ridge without the written permission of the Board of Directors. Above ground structures may only be erected within a cul-de-sac, divided street entry island, or median strip with the written approval of St. Louis County Department of Highways and Traffic. Section 14 Fences No fence or wall shall be erected without the written permission of the Board of Directors. This section can only be changed by an amendment to the Declaration. Section 15 Antennas/Satellite Receiving Dishes No outside radio, television or satellite antenna or satellite dish shall be erected without the written permission of the Board of Directors. All installations must comply with all Federal regulations concerning such apparatus. Section 16 Signs No sign may be placed on any Lot without the written permission of the Board of Directors. For Rent and For Sale signs must be displayed from inside the window of a Unit. (See Regulation 3) Section 17 Landscaping No landscaping or decorative items may be placed on any Lot without the written permission of the Board of Directors. Maintenance of any approved item shall be the responsibility of the Owner and the Association shall not be responsible for any damage done to the items by its employees or agents. Section 18 Nuisances Each Owner is responsible for preventing the occurrence on his or her Lot of anything that is obnoxious, dangerous, unsightly, unpleasant, or of a nature that may cause embarrassment, discomfort, annoyance or nuisance to any person or surrounding property. The Board of Directors determines if something is a nuisance. Section 19 Leases Each Owner can lease or rent a Unit for single-family residential use only. The following requirements apply (a) The lease shall be in writing and be subject to this Declaration. The lease shall be terminated with any violation of the Declaration or the Covenants and Conditions of the lease. (b) Each lease must be approved by the Board of Directors. Page 6

11 (c) Each lease should appoint the Board of Directors to act as agent for the Owner in all matters other than the payment of rent. Any lease violations that are not resolved within thirty (30) days will be cause, under the laws of the State of Missouri, to terminate the lease. The Board shall have no liability if a lease is terminated. (d) The initial term of a lease will be six (6) months. (e) Each lease is subject to the Association's rules and regulations. Section 20 Rules and Regulations The Board of Directors may establish rules and regulations. All Owners and visitors must obey the rules and regulations. The Board or the Association can modify a rule or regulation. The Board has the authority to impose fines or sanctions on an Owner who does not obey a rule or regulation. The Board also has the obligation, as part of its duties, to see to it that all County ordinances are being enforced. (See Regulation 1) Article III Board of Directors, Meetings, and Voting Rights Section 1 Board of Directors (a) Original Directors The original directors were three employees of Greater Missouri Builders. (b) Election of Directors The Directors are elected by the Owners at the annual Association meeting. Owners may vote only if they are not delinquent in the payment of their monthly assessment. One Director is elected each year to serve a three year term. Terms are on a calendar year basis. Directors can be re-elected. If a Director is unable to finish out his or her term, the remaining Directors select a successor to serve the unexpired portion of the term. (c) Qualifications of Directors A Director must be a Lot Owner. If there is a vacancy on the Board and a successor cannot be selected, the Board can call a special election. If a vacancy exists for 120 consecutive days, any Owner can petition the St. Louis County Council to appoint a Director. An appointed director shall receive a reasonable fee. (d) Officers One of the members of the Board is designated the President, one is designated the Secretary and one is designated the Treasurer. Page 7

12 Section 2 Meetings of the Association An annual meeting is held each November at a convenient place in St. Louis County. Special meetings are held if called by a Board member or requested by twenty percent (20%) of the Owners. Written notice of special meetings shall be given no less than ten (10) days in advance of the meeting. (See Amendment 1) Section 3 Quorum (a) Business can be transacted at an Association meeting only if there is a quorum at the meeting. A quorum is present if, at the beginning of the meeting, twenty percent (20%) of the Owners eligible to vote are in attendance. If there is no quorum at a meeting, the Board can call another meeting within thirty (30) days and a quorum is not required; or the Board can conduct business by written ballot. (b) A quorum is present at a Board meeting if a majority of Directors is present. Actions at Board meetings shall be by majority vote, oral or written. Section 4 Nonprofit Corporation Since the Association is a nonprofit corporation, the Board of Directors of the Association also serve as the Board of the corporation. The by-laws of the corporation include any by-laws that may have been created for the Association. Section 5 Voting Classes When the Declaration was created, there were two (2) voting classes. Now there is one (1) voting class. (a) Class A An Owner of a Lot is a Class A voter. Each Lot is entitled to one vote. If more than one person is listed on the St. Louis County records as an Owner, only one of those persons is entitled to vote. (b) Class B This class of voter was Greater Missouri Builders. This class no longer exists. (c) Proxies Rules pertaining to proxies shall be governed by the By-Laws. Section 1 General Article IV Maintenance Assessments Each Owner is subject to three types of assessments: Annual, Special, and Page 8

13 Ordinance Compliance. The Annual Assessment is for the payment of items related to the Budget. A Special Assessment is for the payment of capital items related to the maintenance of the subdivision. The Ordinance Compliance Assessment is for compliance with applicable local, state, or federal ordinances or statues. Section 2 Purpose The purpose of the Annual Assessment is to provide funds to the Association so that the Association can comply with the requirements of this Declaration. Some of these requirements are the maintenance of the Common Elements and Limited Common Elements, maintenance items related to individual Units, payment of insurance premiums, administrative and management costs, and legal and accounting fees. Section 3 Annual Assessment Each year at the Annual Meeting, a Budget is presented to the Association describing the items for which the Association must make payment and the amount of payment required for each item. The Budget is accepted unless a majority of the Owners reject it. If the Budget requires a change in the Annual Assessment, each Owner will be notified in writing. (See Amendment 2) Section 4 Special Assessment Some of the capital items that could require a Special Assessment are the maintenance of items on the Common Elements, the repair or replacement of the roofs on the Units, and the maintenance of the outside walls of the Units. A Special Assessment requires the approval of two-thirds (2/3) of the Owners present at a Special meeting that has been convened to vote on the Special Assessment. Section 5 Notice and Quorum for Assessment Meetings Written notice of assessment meetings shall be sent to all Owners not less than ten (10) days nor more than sixty (60) days prior to the meeting. A quorum is established for assessment meetings if twenty (20) percent of the Owners are present. If a quorum is not established, another assessment meeting, held within sixty (60) days of the first meeting, will have a quorum if ten (10) percent of the Owners are present. Section 6 Uniform Rate of Assessment For Annual and Special Assessments, all Owners must be assessed the same amount. Page 9

14 Section 7 Commencement of Annual Assessments An Owner is responsible for an Annual Assessment on the first day following the day on which the Owner received possession of a Lot. The amount due is adjusted according to the number of days remaining in the calendar year. Annual Assessments are due on the first day of each month and are delinquent if not received by the tenth day. Section 8 Nonpayment of or Delinquent Assessments Any assessment not paid by the due date shall incur a twenty-five dollar ($25.00) late fee and an interest rate of twelve percent (12%) per annum. The Board may adopt other fees and interest rates if they are submitted with the proposed annual budget. All Owners must pay all assessments. Legal action can be taken for nonpayment. Section 9 Subordination of the Lien Mortgage Assessment liens are subordinate to mortgage liens. Foreclosures extinguish assessment liens. Sale or transfer does not extinguish assessment liens. Section 10 Assessment for Ordinance Compliance If a St. Louis County ordinance requires the Association to make a payment, the Owners can be assessed to provide the funds for this payment. Approval of the Owners is not required for the Board to make this Special Assessment. Article V Exterior Maintenance, Insurance, Utilities and Trash Removal Section 1 Exterior Maintenance The Association is responsible for maintaining the Common Elements. On individual Units, the Association is responsible to maintain roofs, gutters, overhangs, downspouts, exterior bricks and siding, irrigation system, grass, trees and shrubs (except trees and shrubs installed by an Owner with Association approval). All other exterior maintenance is the responsibility of the Owners. The application to exterior surfaces of a different color, paint or stain requires the written approval of the Board. If an Owner, or an Owner's guests, make it necessary to perform maintenance on a Lot or Unit, the Association can perform the maintenance and add the cost to the Owner's assessment. The Association has the option to provide snow removal to private driveways, sidewalks leading to stoops and stoops. If an Owner fails to maintain a Limited Common Element, Lot, or Unit, the Association can maintain them and assess the Owner the cost of the Page 10

15 maintenance. Walden Ridge After giving an Owner ten (10) days written notice, the Association can enter any Lot, Unit, Common Element, or Limited Common Element to remove anything that violates this Declaration. In an emergency situation, written notice is not required. The Owner will be assessed any costs related to this action All interior maintenance is the responsibility of an Owner except for Limited Common Elements. Maintenance of exterior items that serve a single Unit, but are outside the Unit or Lot, are the Owner's responsibility. Utilities, utility meters, and sanitary sewer lines are examples of these types of items. If a leak in the roof or foundation causes interior damage, the Owner is responsible to repair the interior damage. (See Regulation 2) Section 2 Insurance The Association has a master insurance policy that covers the following: (a) Property Insurance for the Common Elements, Limited Common Elements, Lots, and Units. The amount of the insurance, after deductibles, is eighty percent (80%) or more of the cash value at the time the insurance is purchased or renewed. (b) Liability Insurance for the Common Elements. The amount is determined by the Board. Owners are responsible for the payment of the master policy's deductible. The master policy provides that: (a) Each Owner is insured to cover his or her liability as a member of the Association. (b) The insurer waives its right to subrogation against any Owner. (c) No act or omission by an Owner will void the policy or be a condition for recovery. (d) If an Owner's policy covers the same risk as the master policy, the master policy provides the primary insurance. If the Association no longer has a master policy, the Owners will be notified in writing. The Association will have other forms of insurance that Board feels is necessary. Any proceeds from the master policy are paid to the Association. The Association then disburses the proceeds to the Owners for the repair of any damage. Excess proceeds may be distributed to the Owners at the Board's discretion. Owners should have their own insurance to cover: Page 11

16 (a) Portions of the Lot not covered by the master policy. (b) Their own personal property. (c) Liability for their acts or omissions. (d) Sewer backup. Proof of insurance, whether master or individual, should be provided to the Association A policy, whether master or individual, shall not be canceled without a thirty (30) day written notice to the Association, Owner, and mortgagee. Proceeds from the master policy will not be used to repair damage, if (a) Repair would be illegal under State or local health or safety ordinances (b) Eighty percent (80%) of the Owners vote to not rebuild. Any repair costs that exceed insurance proceeds may be the subject of a Special Assessment. Section 3 Utilities Owners are responsible for all utilities that serve their Lot. Section 4 Trash Removal The Association has a contract with one vendor for the removal of trash. All Owners are to use this vendor. Article VI Parking The garage on each Lot provides the Owner with two (2) parking spaces. The driveway provides another two (2) parking spaces. Street parking is regulated by the Association subject to St. Louis County ordinances. Article VII Architectural Control And Other Committees Section 1 Architectural Control Committee Applicability The Architectural Control Committee is made up of three (3) or more Owners and reviews all proposals that are submitted for exterior modifications to a Lot or Unit. The Committee then provides a formal recommendation to the Board as to whether to accept or reject the proposal. If, after forty-five (45) days, the Board Page 12

17 has taken no action on the proposal, the proposal will be considered to have been approved. (a) Additions, Changes, or Alterations Exterior modifications to a Lot or Unit cannot be made until the proposal for the modifications has been approved in writing. External modifications must maintain the harmony of the external design of surrounding structures. Maintenance of the modification will be the responsibility of the Owner. (b) Fees for Review If the Architectural Control Committee incurs any costs, these costs may the responsibility of the Owner. (c) Guidelines The Architectural Control Committee may develop guidelines to facilitate the review of proposed modifications. Section 2 Other Committees The Board of Directors can establish other committees to assist in managing the subdivision. Article VIII Party Walls Section 1 General Rules of Law to Apply Party walls are the walls that separate one Unit from another and that were constructed as part of the original construction. General rules of law regarding party walls apply as does liability for property damage due to negligence or willful acts or omissions. Section 2 Sharing of Repair and Maintenance Any repair or maintenance to a party wall is shared by the Owners who make use of the wall. Section 3 Destruction by Fire or Other Casualty If a party wall is destroyed, each Owner shares in the cost of replacement. If an Owner is responsible for the destruction, that Owner is responsible for the cost of replacement. If the party wall is covered by the Association's master insurance policy, the Owners are responsible for the deductible amount. Page 13

18 Section 4 Weatherproofing Walden Ridge If an Owner is responsible for exposing a party wall to the weather, that Owner is responsible for the costs of protecting the wall from the weather and the costs for any repairs that may be required. Section 5 Right to Contribution Runs With the Land If an Owner, who is responsible for the costs to repair a party wall, sells his or her Unit, the buyer of that Unit is responsible for those costs. Article IX Staged Development This referred to Greater Missouri Builders and is no longer applicable. Section 1 Enforcement Article X General Provisions The Association or any Owner has the right to make sure that the provisions of this Declaration are followed. If a provision was not followed in the past, does not mean that it can be ignored in the future. Legal action can be taken if necessary. Section 2 Severability If a legal action makes a provision of this Declaration invalid, all other provisions remain valid. Section 3 Mortgage Rights Institutional holders, insurers, or guarantors of a first mortgage are entitled to timely written notice of (a) A proposed termination of the Association (b) Any condemnation or casualty law that affects the subdivision or any Lot on which they hold a first mortgage (c) Any of the following that affect Lots on which they hold a first mortgage Section 4 Duration (1) Assessment payments that are sixty (60) days delinquent (2) When an Owner does not resolved within sixty (60) days any failure to follow a provision of the Declaration. The provisions of this Declaration provide all Owners with fee simple title to the Common Elements. The sale of any Lot conveys ownership of the Common Elements. This is a St. Louis County requirement. Page 14

19 Section 5 Amendment Walden Ridge This Declaration can be amended if fifty-one percent (51%) of the Owners approve the amendment. At least thirty (30) days prior to a meeting to consider an amendment, written notice will be given to all Owners. An amendment becomes effective on the date that it is recorded with the St. Louis County Recorder of Deeds. No amendment shall change the obligations or rights of the Board. An amendment shall not eliminate the Board unless a person or entity is identified to replace the Board. A substitute for the Board must be identified in a manner approved by the St. Louis County Director of Planning. These amendment provisions are a requirement of St. Louis County. Section 6 Attorney's Fees If legal means are required to make sure that an Owner follows the provisions of this Declaration, the Association is entitled to recover, from the Owner, any legal fees associated with this action. Interest, at the rate of twelve percent (12%) per annum, will apply. Section 7 Arbitration If an Owner challenges this Declaration or an act or omission by the Board, the challenge shall be submitted to binding arbitration in accordance with Chapter 435, RSMO, and according to the Rules of the American Arbitration Association. The decision of the arbitrator will be binding on all parties. If the Board challenges an Owner for not following the provisions of the Declaration, the Board may due so in a court of law or by arbitration under the Rules of the American Arbitration Association. If the Board chose arbitration, the decision of the arbitrator will be binding on the Owners and the Association. Section 8 Indemnification The members of the Board are not responsible for any expenses incurred by or imposed upon them while carrying out their duties as a member of the Board. This also applies to former Board members. The members of the Board are not liable for a mistake in judgment, unless it is their own individual and willful mistake in judgment. The members of the Board have no personal liability in regards to any conduct or commitment made by them in good faith on behalf of the Association. The Association shall hold each member of the Board free and harmless from any liability to others arising from any contract or commitment made by the Board on behalf of the Association. Page 15

20 Section 9 Compliance With Laws, Etc. The Board will make provision for compliance with all subdivision and governmental ordinances, rules and regulations. If this compliance requires improvements to the Common Elements, Lots or Units, a Special Assessment can be levied without a vote of the Owners. This section is a requirement of St. Louis County. Section 10 Powers of the Association The Association, acting through the Board, can (a) Adopt Rules and Regulations and impose penalties for noncompliance. (b) Exercise all powers, duties, and authority delegated to the Association. (c) Employ, supervise, and terminate any vendor providing services to the Association. (d) Establish a budget projecting the amounts necessary for carrying out the Association's obligations as defined in this Declaration. (e) (f) Adopt an annual budget and collect Assessments. Establish the Association's fiscal year (g) Establish the principal office of the Association. It is currently at the office of the management company serving the Association. (h) Establish rules for proxies. (i) Create and amend By-Laws to assist the Board in acting on behalf of the Association. (j) Borrow funds using the Association's assets or future assessments as collateral. (k) (l) Make sure that this Declaration is followed. Use legal actions to carry out the terms of this Declaration. (m) Designate any part of the Common Elements as a Limited Common Element. (n) Since the Association is incorporated, the Board has the powers provided under Chapter 355, RSMO. (o) The Board can act on a case-by-case basis or on a blanket basis. Section 11 Eminent Domain If a public agency needs to acquire any part of the Walden Ridge subdivision, the Board can negotiate the sale and execute any documents required for the sale. Page 16

21 Any proceeds will be held by the Board and used to compensate those whose property had been acquired. Section 12 PEU Clause This clause is required by St. Louis County. The Common Elements shall be for the sole use of the Owners and their guests. This Declaration shall have provisions relating to guests which shall provide the following: (a) No Owner shall be denied use of the Common Elements due to a guest using them (b) Guests must abide by all of the Association's Rules and Regulations (c) All rules and regulations that apply to guests shall apply equally to all guests (d) A majority of the Owners may elect to allow or disallow usage of the Common Elements by guests. Page 17

22 Index A Annual Meeting...8 C Common Elements...1, 3 Condominium...1 D Declarant...2 E Exterior Maintenance Responsibilites...10 F Fines...7 L Limited Common Elements...2 Lot...2 O Owner...2 P Parking...12 Pet Waste...5 Placing Of Items On A Lot...6 Planned Environment Unit...1 Plat...2 Property...2 Proxy...16 R Regulations...7 S Special Meeting...8 T Trustees...1 U Unit...2 W Walden Ridge Owners Association...1 Page 18

23 Page 19