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WQ0022689_Regional Office Historical File Pre 2018 (3)
Michael F. Easley, Governor William G. Ross Jr., Secretary North Carolina Department of Environment and Naturi ices July 26, 2007 CERTIFIED MAIL RETURN RECEIPT REQUESTED Larry Cook -The Enclave at Beverly Crest Denise Laurendeau-Belle Vista Condominium Association PO Box 11906 Charlotte, NC 28220 Subject: Permits Numbers : WQ0022689 Belle Vista Condominium WQ0023918 The Enclave @ Beverly Court Collection System Extensions Mecklenburg County Dear Ms. Laurendeau, Mr. Cook: The Division of Water Quality has reviewed the application for Permit Name and Ownership name for Sewer Systems. (Form PNOCF-S 09/04) The review revealed that the Homeowners Association Bylaws and Declaration were not included with the application. Please review the required items on the application (Item No.4 ). Please submit a copy of the Homeowners Association Bylaws and Declarations for the Belle Vista Condominium and The Enclave at Beverly Crest Projects by August 26,2007 to properly transfer ownership from Pulte Homes to Belle Vista & The Enclave at Beverly Crest Homeowners Associations. If you have any questions feel free to e- mail me at tom.ascenzo@ncmail.net or phone 919-733-5083 ext 526. ncerely, Thomas Ascenzo-Envtro PERCS Unit al Specialist CC : Mecklenburg County Health Dept. : Mooresville Regional Office Central files WQ0€122689/WQ0023918 David Cushing, Pulte Homes, 11121 Carmel Commons Blvd Suite 450 Cllarlcltte.,lC 28226 NC DWQfPERCS Internet; h2o.enr.s 1617 Mail Service Center Raleigh, NC 27699-1617 Phone (919) 733-5083 Customer Service t/index.htrnl 512 N. Salisbury St. Raleigh, NC 27604 An Equal Opportunity/Affirmative Action Employer — 50% Recycled/ 10% Post Consumer Paper FAX (919) 733-0059 1-877-623-6748 PERMIT NAME OR OWNERSHIP CHANGE FORM FOR SEWER SYSTEMS FORM PNOCF-S 09/04 This form may be photocopied for use as an original but not altered in any way. This form is to be used for tranferring a permit for a sewer system to a new owner or changing a company name. Sewer permits stem with a WQ and contain the terms sewer extension or collection system in the permit subject field. This form should not be used for permits beginning with NC, NCG, SW or other types of non -sewer permits beginning with WQ. I. REQUIRED ITEMS- --PLEASE READ CAREFULLY. INCOMPLETENESS OR OMISSIONS MAY LEAD TO DELAYS IN PROCESSING YOUR REQUEST.' . 11, 1.. Submit one original of this completed and appropriately executed Form. -a. - For a change of ownership, the certification must be signed by both the current permit holder and the new applicant. b. For a name change only, the certification must be signed by the applicant. 2. Provide legal documentation of the transfer of ownership or company name change (such as a contract, deed, article of incorporation, approved Board minutes, etc.) for ownership changes. 3. For transfer from a developer to another developer who is selling lots: a. Submit a properly executed Operational Agreement (Form DEV 02/03). b. If the developer has already formed a legal Homeowner's Association (HOA) in accordance with an executed Operational Agreement, submit a copy of the articles of incorporation, Declaration and Bylaws that contain the language required by the Operational Agreement. 4. For transfer from a developer to a legally formed and registered homeowner or property owner association (HOA/POA): a. Submit a properly executed Operational Agreement (Form HOM b. Submit a copy of the Association Bylaws and Declarations that cos itrth -lc ,gage required by the Operational Agreement. 1. r IL PURPOSE OF THIS TRANSFER t-- ❑ Name Change [Ownership Change ❑ Other (explain on separate sheet 1( JUN 1 4 2007 : } 41. 11I. CURRENT PERMIT INFORMATION Permit number: WQ00 a 39 1 S Company name: Fa Ii-a Hottil,r.5 Permit signing official name and title (current name on permit): 41 .AL Cvshti rt5 --. V A b e L.a,%01 Mailing address: 1,11.2 l L cat me l (60461.04s Dlv cQ S. k e L15"b City: C tat 1 b 1 l t State: Al C,,,_ Zip: e?S724. Tel: 7O'. • rya • in2a Fax: 70rf • 44/' • 71599 E-mail: NorthCarolina Naturally Pretreatment, Emergency Response and Collection Systems Unit 1617 Mail Service Center, Raleigh, NC 27699-1617- Courier/Ovemight 512 N. Salisbury Street, Suite 1304, Raleigh, NC 27604 'telephone (919) 733-5083 Fax (919) 733-0059 Internet http://h2o.enr.ncstate.us/ndpu An Equal Opportunity Action Employer 50% recycled/10% post -consumer paper ,/. NEW OWNER/NAME INFORMATION Company name: i�E E/farPC ifekTP' Authorized signing official name and title (see 15A NCAC 2H .0206) fry Cook,e5.df . . Mailing address: Pb - ox l CiO 4 City: 3410,1O State: 11,.)G Tel: 7' 377— I / V. CERTIFICATIONS • Fax: FORM PNOCF-S PAGE 2/2 E-mail: . Zip: rr��c,9� ^ o o�'�pp9' Current Permiffee's Certification: I, ervan he ( , attest that this application for name/ownership change has been reviewed and is accurate and complete to the best of my knowledge. I understand that if all required parts of this application are not completed and that if all required supporting information and attachments are not included, this application package will be returned as incomplete. I understand I will continue to be responsible for compliance with the current permit until a new permit is issued. -For PIl-+-c Homes: Signature: 2. Applicant's Certification:� / I, lA'tp" G /d/F Date: attest that this application for name/ownership change has been reviewed and is accurate and complete to the best of my knowledge. I understand that if all required parts of this application are not completed and that if all required supporting information and attachments are not included, this application package will be returned as incomplete. THE COMPLETED APPLICATION PACKAGE, INCLUDING ALL SUPPORTING INFORMATION AND MATERIALS, SHOULD BE SENT TO THE ATTENTION OF MARIE DOKLOVIC AT THE LETTERHEAD ADDRESS ***END OF FORM PNOCF S 09/04*** 69: '1C :' ' ' 's'Ez3 QUALITY ii; P ‘7'. JUN 200T 'PERMIT NAME OR OWNERSHIP CHANGE FORM FOR SEWER SYSTEMS e; <4H r FORM PNOCF-S 09/04 This form may be photocopied for use as an original but not altered in any way. This form is to be used for franferring a permit for a sewer system to a new owner or changing a company name Sewer permit S start with a WQ and contain the terms sewer extension or collection _system in the permit_subject field. This form, should .not be used for permits beginning with NC, NCG, SW or other types of non -sewer permits beginning with WQ. I. REQUIRED ITEMS - PLEASE READ CAREFULLY. INCOMPLETENESS OR OMISSIONS MAY LEAD TO DELAYS IN PROCESSING YOUR REQUEST. 1. Submit -one original of this completed and appropriately executed Form. a. For a change of ownership, the certification must be signed by both the current permit holder and the new applicant. b. For a name change only, the certification must be signed by the applicant. 2. Provide legal documentation of the transfer of ownership or company name change (such as a contract, deed, article of incorporation, approved Board minutes, etc.) for ownership changes. 3. For transfer from a developer to another developer who is selling lots: a. Submit a properly executed Operational Agreement (Form DEV 02/03). b. if the developer has already formed a legal Homeowner's Association (HOA) in accordance with an executed Operational Agreement, submit a copy of the articles of incorporation, Declaration and Bylaws that contain the language required by the Operational Agreement. 4. For Transfer from a developer to a legally formed and registered homeowner or property owner' association (HOA/POA): a. Submit a properly executed Operational Agreement (Form HOA 02/03). b. Submit a copy of the Association Bylaws and Declarations that contain the language required by the Operational Agreement. II. PURPOSE OF THIS TRANSFER ❑ Name Change [Ownership Change Ill. CURRENT PERMIT INFORMATION ❑ Other (explain on separate sheet) Permit number: WQ00oi2L $9 Company name: Pu «'C Reaktes Permit signing official name and title (current name on permit): D&v i ca. Cis hi naJ - V P of L-4vteQ - Mailing address: tt to ti Car Mel Coa,nti,oni31.14 SVi 4 c 4s0 City: C.6.(Ib-l#c N L State: N L Zip: 214,24 Tel: 704 $ 3 lit PR Fax: 7D4/ 4fiy 7op9' E-mail: • NorthCarolina Naturally Pretreatment, Emergency Response and Collection Systems Unit 1617 Mail Service Center, Raleigh, NC 27699-1617 Courier/Ovemight 512 N. Salisbury Street, Suite 1304, Raleigh, NC 27604 Telephone (919) 733-5083 Fax (919) 733-0059 Internet httpJ/h2o.enr.nc.state.us/ndpu - ..•» r_r ' I llll I. NEW OWNER/NAME INFORMATION Cornan name: b� •Autho ed signing officia name' and title (see 15A NCAC 2H .0206) t" -Mailin. address: / Ci1L- Tel: [D 61/ V. CERTIFICATIONS I. State: E-mail: FORM PNOCF-S PAGE 212 Current Permittee's Certification: 1, arYan Fi°he, , attest that this application for name/ownership change has been reviewed and is accurate and complete to the best of my knowledge. I understand that if all required parts of this application are not completed and that if all required supporting information and attachments are not included, this application package will be returned as incomplete. I understand I will continue to be responsible for compliance with the current permit until a new permit is issued. Far Pal+r NeMes Signature: 2. Applicant's Certification: Date: attest that this application for name/ownership change has been reviewed arid is accurate and complete to the best of my knowledge. I understand that if all required parts of ,this application are not completed and that if all required supporting information and attachments are not included, this application package will be returned as incomplete. 1 Signature: Date: THE COMPLETED APPLICATION PACKAGE, INCLUDING ALL SUPPORTING INFORMATION AND MATERIALS, SHOULD BE SENT TO THE ATTENTION OF MARIE DOKLOVIC AT THE LETTERHEAD ADDRESS ***END OF FORM PNOCF-S 09/04*** FOR REGISTRATION JUDITH A. GIBSON REGISTER OF DEEDS MECKLENBURG COUNTY, NC 2004 MAY 20 11141 AM BK:17225 PG;710-729 FEE:08.00 2 FIRST AMENDMENT TO DECLARATION OF BELLE VISTA CONDOMINIUM Filed for Record May 20, 2004 Recorded in Book _L7 12S, Pages 7/0 through 721 In the Office of the Register of Deeds for Mecklenburg County, North Carolina UNENT ti 2004112544 i 4112!54��4 111 I1 II.. Prepared by and after recording mail to: HORACK, TALLEY, PHARR & LOWNDES, P.A. :II DP) 2600 One Wachovia Center 301 South College Street Charlotte, North Carolina 28202-6038 (R/D Box #194) CT. \WtNN'F\Profilcs\nnckcrecne\Ten-pomp into -net Fil\CB'. K2\GCVXO41,f7CX 0 FIRST AMENDMENT TO DECLARATION OF BELLE VISTA CONDOMINIUM THIS FIRST AMENDMENT made and entered into as of May 19, 2004, by PULTE HOME CORPORATION (hereinafter referred to as the "Declarant "), and the undersigned Owners. RECITALS The Declarant heretofore executed and recorded that certain Declaration of Belle Vista Condominium, dated February 12, 2004, recorded in Book 16780, Pages 275 — 364, in the office of the Register of Deeds for Mecklenburg County, North Carolina (the "Declaration") for the purpose of submitting to the condominium form of ownership under the North Carolina Condominium Act certain real property described therein under the name "Belle Vista Condominium". The Declarant and the other parties who are signatories to this First Amendment own all of the Units within Belle Vista Condominium, and now desire to amend the Declaration in the manner hereinafter set forth. AMENDMENT The Declarant and the other parties to this First Amendment hereby amend the Declaration as follows: ].. By adding thereto a new Paragraph 1.10(A) to read as follows: 1.10(A) "Carport" shall have the following meaning: There may be located on the Property with the Condominium certain improvements consisting of a roof stricture which encloses vehicular parking spaces and attached storage sheds. Any such improvements are identified on the Plat as being a "Carport Structure". As used in this Declaration, the terrn "Carport" shall mean each individual portion of such Carport Structures that consists of the parkingspace for an individual vehicle and the storage shed that is appurtenant to such parking space. The portion of the roof of such structure located above such individual parking space shall also be a part of the particular Carport. Each Carport shall be identified and demarcated by a number that shall be displayed on the portion of the structure containing such Carport. 2. By adding the following sentence to Paragraph 1.28 thereof: That portion of the Property consisting of the individual Carports shall constitute Limited Common Elements that shall. be allocated specially to certain Units in the manner provided for in this Declaration. C:\WINNI'\Profiles\rmckenzie\Temporary Internet Piles\OLK2\GCVX011.DOC 3. By adding the following sentence to end of Paragraph 1.32 thereof: The term "Plat" shall also refer to the survey plat depicting additional phases of the Condominium that shall be recorded by the Declarant in connection with the exercise of its Special Declarant Right to add Additional Property to the Condominium pursuant to the provisions of Paragraph 3.3 hereof. 4. By adding the following paragraphs to Paragraph 2.9 thereof: In the event that the Declarant shall exercise its right under Paragraph 2.15 hereof to construct any Carports on the Property, each such Carport shall be initially allocated to Unit Number 04108 Thereafter, for so long as the Declarant shall remain the owner of such Unit Number 04108 any such Carport may be reallocated to another Unit either (a) by an amendment to this Declaration executed by the Declarant and the owner of the Unit to which such Carport is to be thereby reallocated, or (b) by being reallocated to another Unit in the deed of conveyance by which the Declarant shall convey such Unit to the owner thereof. After any Carport constructed on the Property by the Declarant pursuant to Paragraph 2.15 hereof shall have been so reallocated by the Declarant, said Carport may be reallocated in the manner provided for the same in § 47C-2-108(b) of the Act. In the event that any Carports shall have been constructed on any portion of the Additional Property at the time said portion of the Additional Property shall be added to the Condominium through the exercise by the Declarant of its Special Declarant Rights pursuant to Paragraph 3.3 hereof, then such Carports shall be allocated to the Unit or Units so specified in the Amendment to this Declaration which Declarant shall have executed for the purpose of exercise its Special Declarant Right so as to add such portions of the Additional Property to the Condominium. Thereafter, any such Carport may be reallocated to another Unit either (a) by an amendment to this Declaration executed by the Declarant and the owner of the Unit to which such Carport is to be thereby reallocated, or (b) by being reallocated to another Unit in the deed of conveyance by which the Declarant shall convey such Unit to the owner thereof. Thereafter, such Carport may be reallocated in the manner provided for the same in §47C-2-108(b) of the Act. Any deed of conveyance for a Unit which shall be executed by the Declarant, and which shall allocate a Carport as a Limited Common Element to such Unit, shall be deemed to be an amendment to the Declaration for purposes of in §47C-2-108(b) of the Act. 5. By adding thereto a new section 2.15 thereof to read as follows: 2.15 Construction of Carports. Notwithstanding any provision of the Act or this Declaration which shall provide to the contrary, the Declarant shall have the right, but not the obligation, to construct Carports on the Property. Any such Carport as the Declarant shall elect to construct on the Property shall be located within the portion of the Property C:\WINNT\Profiles\rrnckenzie\Temporary Internet Files \OLK2\GCVXo1LDOC 2 depicted on the Plat as being parking areas and landscaping within the parking areas. Accordingly, all portions of the parking areas on the Property and the landscaping within such parking areas constitute real estate which may be allocated subsequently as Limited Common Elements. The parking areas on the Property and the landscaping within such parking areas may be allocated subsequently as Limited Common Elements. in the event that the Declarant shall exercise such right, upon the completion of construction of such Carports, the Declarant shall file with the register of deeds of Mecklenburg County a new Plat of the Property depicting such Carports, which Plat shall replace and supersede the Plat identified on Exhibit C hereto, which the Declarant filed at the time of the recording of this Declaration, 6. By deleting the first three sentences of Paragraph 5.9 thereof, and by substituting, in lieu thereof, the following: The only vehicles that may be parked on the Property (including, without limitation, within the Carports) are passenger vehicles in operating condition with their then current license plates and, if applicable, operating stickers attached. Such vehicles may include pick-up trucks having a load bearing capacity of no more than one-half ton. Every such vehicle shall be parked only in a Carport or parking space marked as such. 7. By inserting the parenthetical phrase ("other than the Carports") after the words "particular parking spaces", as the same appear in the last sentence of Paragraph 5.9 of the Declaration. 8. By adding to Paragraph 7.2 thereof, a new paragraph (c) to read as follows: (c) Without limiting the generality of the foregoing, all of the costs and expenses associated with the maintenance, repair, renovation, restoration and replacement of any Carport shall be specifically assessed against, and shall be paid by, the owner of the Unit to which such Carport was allocated at the time such costs and expenses were made or incurred, unless such costs are paid for with the proceeds of insurance maintained by the Association. The owner of any Unit to which any Carport has been allocated as a Limited Common Element shall be liable for a special monthly assessment which shall be Levied by the Board for the purpose of establishing and maintaining a reserve fund to be used for the repair and replacement of such Carport on a periodic basis. All of the costs and expenses associated with the maintenance, repair, renovation, restoration and replacement of any Carport and which are not paid out of the funds contained in such reserve fund, shall be added to and become a part of the assessment to which the owner of the Unit to which such Carport is allocated is subject, and, unless it is determined otherwise by the Board, shall be due and payable at the time the next installment of such assessment shall be due and payable." Except as modified and amended hereby, the Declaration shall otherwise remain in full force and effect pursuant to its terms. C:\W1NNT\ProFiles\rmckenzie\Temporary Internet Files\OLK2\GCVX011.DOC 3 IN WITNESS WHEREOF, the Declarant and the additional undersigned Unit Owners hereby execute this First Amendment on the day and year first above written. DECLARANT • PULTE HOME CORPORATION Thomas,W. Bruc Attorney -in -Fact Ilene Goldberg Cameron Grice Jenny Johnson Vincent Cantore C. William Claypool Gilmer Murdock littasteribuniz C:\WINNT\Profiles \anckenz'se\Temporary Internet Files \OLK2\1st Amendment to Declaration of Belle Vista Condorninium.DOC 4 IN WITNESS WHEREOF, the Declarant and the additional undersigned Unit Owners hereby execute this First Amendment on the day and year first above written. DECLARANT PULTE HOME CORPORATION By: y i/Zstr- Thomas W : ruce Attorney- -Fact Ilene Goldberg eon Grice Jenny Johnson Vincent Cantore C. William Claypool Gilmer Murdock BeasleycBT-MA C:\WINNT\Profiies\rmckenrie\Temporary Internet Files \OLK2\1st Amendment to Declaration of Belle Vista Condominium.DOC 4 IN WITNESS WHEREOF, the Declarant and the additional undersigned Unit Owners hereby execute this First Amendment on the day and year first above written. DECLARANT PULTE HOME CORPORATION C-----\I Thomas Bruce Attorney • -Fact y: Ilene Goldberg Cameron Grice Jen Johnst3nrA41)-- Vincent Cantore C. William Claypool Gilmer Murdock Rritlult C_ WINNT\Profiles\rmckenzieVremporary Internet Res \°LIU\1st Amendment to Declaration of Belle Vista Condominium-DOC 4 IN WITNESS WHEREOF, the Declarant and the additional undersigned Unit Owners hereby execute this First Amendment on the day and year first above written. DECLARANT PULTE HOME CORPORATION r Thomas Bruc Attorne', in -Fact Ilene Goldberg Cameron Grice Jenny Johnson C. William Claypool Gilmer Murdock BMWEfablx C:VWINNT\Profilesanekenzie\Temporary Interne Files IOLK2\1stAmendment to Declaration of Belle Vista Condominium.DOC 4 IN WITNESS WHEREOF, the Declarant and the additional undersigned Unit Owners hereby execute this First Amendment on the day and year first above written. DECLARANT PULTE HOME CORPORATION Thomas . Bruce Attorne -in-Fact IIene Goldberg Cameron Grice Jenny Johnson Vincent Cantore C. WiIliam Claypool Gilmer Murdock C=\WINNr\Profileslrmckenzie\Temporary Internet FBes\OLK2\Ist Amendment to Declaration of Belle Vista Condominium,DOC 4 IN WITNESS WHEREOF, the Declarant and the additional undersigned Unit Owners hereby execute this First Amendment on the day and year first above written. DECLARANT PULTE HOME CORPORATION Thomas . Bruce Attorney in -Fact Ilene Goldberg Camerbn Grice Jenny Johnson Vincent Cantore C. William Claypool CAWINNT\Profiles \cmtkenzie\Temporary Internet Files \OLK2\1st Amendment to Declaration of Belle Vista Condominium.DOC 4 IN WITNESS WHEREOF, the Declarant and the additional undersigned Unit Owners hereby execute this First Amendment on the day and year first above written. DECLARANT PULTE HOME CORPORATION By:1 (/- Thom I W. B Attorney -in -Fact Ilene Goldberg Cameron Grice Jenny Johnson Vincent Cantore C. William Claypool Gilmer Murdock � / :7 Teddis Holbrook Beasley IV C:\Documents and Settings\vscott\Local Settings\Temporary Internet Files\OLKS\GCVX0111.DOC STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG 1, Rasntir (Q - /, j , a Notary Public for said County and State, do hereby certify that Thomas W. Bruce,kttorney-in-Fact for Pulte Home Corporation, a Michigan corporation, personally appeared before me this day and being by me duly sworn, says that he executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in look 13074 at Page 900, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Thomas W. Bruce acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. I9th May, 2004. WITNESS my hand and official seal this day of e;xSbt 03. z (0- Notary Public i sion Expires: State of North Carolina County of R 1G) �, WIL}urn,M\ IN—Vc Goldberg personally appeared befo foreg ing in trument. Witness m h r 1 , 2004. Notary Public My Commission Expires: y Commission Expires June 1U TEA RY SEAL] vstlaz. °..• Acknowledgment , a Notary Public, do hereby certify that Ilene me this day and acknowledged the duexecution of the •d and official seal this the l >~r day of C:\WINN•1•\Profiles\rmckenzie\Temporary Internet Files \OLK2\1st Amendment to Declaration of Belle Vista Condominium.DOC 5 Acknowledgment State of North Carolina County of e c. K1 er iew.„- I, 0 • +WA, l P , a Notary Public, do hereby certify that Cameron Grice personally appeared before me his day and acknowledged the due execution of the foregoing instrument. Witness my hand and official seal this the a044- day of i-tpr: I , 2004. Notary Public My Commission Expires: PU8t.1Gr= c) .+,•., ,,4. ,1. o, ' h -\COitt' TARY SEAL] C:\WINNT\Pro£des\rmckenzie\Temporary Internet Files\OLK2\1st Amendment to Declaration of Belts Vista Condominium.DOC 9 State of North Carolina County of .pJ 461_ I, P kL �Q Johnson personally appeared before me forego)-ig instrument. Witness my hand , 2004. Notary Public My Commission Expires: [AFFIX NOTARY SEAL] Acknowledgment , a Notary Public, do hereby certify that Jenny this day and acknowledged the clue execution of the and official seal this the 2 p day of C:\WINNT\Profiles\rmckernie\Temporary Internet Files \OLK2\ 1st Amendment to Declaration of Belle Vista Condominium.DOC 6 Acknowledgment State of North Carolina County of 1, or clq r yd , a Notary Public, do hereby certify that Vincent Cantore personally appeared before me this day and acknowledged the due execution of the foregoing instrument. Witness my hand and official seal this the �j`�l day of 2004. Notary Public My Commission Expires: rr • . sY:• " L1G.:. - G IN° 'iNNi\Profiles\rmckenzie\Temporary Internet Files \OLK2\1st Amendment to Declaration of Belle Vista Condominium.DOC 7 State of North Carolina County of I, Nete_M2 Acknowledgment , a Notary Public, do hereby certify that C. William Claypool personally appeared + fore me this day and acknowledged the due exec. upon of the foregoing un tr ent. Witness my hand and official seal this the /4''1 day of , 2004. 091(euik-o- Notary Public My Commission Expires: dote, !g( ? G [AFFIX NOTARY SEAL] C:\WINNT\Profiles\rmckenzie\Temporary Internet Files \OLK2\1st Amendment to Declaration of Belle Vista Condominium•DOC 9 Acknowledgment State of North Carolina Coun of �-� • .�-� , a Notary Public, do hereby certify that Gilmer L °r o k rsonally peared before me this day and acknowledged the du xecution of the going it trument. Witness my hand and official seal this the fi' day.of , 2004. 1 o� C:\WINNT\Profiles\rmckenzie\Temporary Internet Files \OLK2\ 1st Amendment to Declaration of Belle Vista Condominium.DOC 8 STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG 1, Pamela 0 McAuley, the undersigned Notary Public in and for the County and State aforesaid, certify that John R. Koenig personally appeared before me this day, and being duly sworn, stated that in his presence Teddis Holbrook Beasley IV acknowledged the execution of the foregoing instrument. WITNESS my hand and notarial seal, this 18th day of May 2004. &. n, Notary Public //-‘•.,7ao7 JUDITH A. GIBSON REGISTER OF DEEDS, MECKLENBURG COUNTY & COURTS OFFICE BUILDING 720 EAST FOURTH STREET CHARLOTTE, NC 28202 Filed For Registration: Book: Document No.: Recorder: 05/20/2004 11:41 AM RE 17225 Page: 710-729 2004112544 DEC!U 20 PGS $68.00 DONYETTA HARGROVE State of North Carolina, County of Mecklenburg *** The foregoing certificate of PAMELA 0 MCAULEY , WILBURN M SANDERS , D.R. HERBERT , DORINDA RICHARD , CAROL E JOHNSON Notaries are certified to be correct. Thisf• 20TH of 2004 ger.ej JUDITH A. GIBSON, REGISTER OF DEEDS By: Deputy/Assistant Register of Deeds •*********************i**************************i**************fhHM}**********************IhF**t***#*******************k 111111111111 IlUl iiiii oiiii iiiii Hill iiiii iiiii iiiii iiii iiii 2004112544 STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG FOR REGISTRATION JUDITH A. GIBSON MECKLENBURG COUNTY NC 2BK:172254PG:730 73B FEE�35.00 INSTRUMENT N 2004112545 111111111111111111111111111 SECOND AMENDMENT TO DECLARATION OF BELLE VISTA CONDOMINIUM AND SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE 11 THIS SECOND AMENDMENT AND SUPPLEMENTAL DECLARATION and Exhibits which are attached hereto and made a part hereof are made and executed as of the cf t`' day ofMay, 2004 by PULTE HOME CORPORATION, a Michigan corporation (the "Declarant"), for itself, its successors and assigns, pursuant to the provisions ofChapter47C oftheNorth Carolina General Statutes entitled the "North Carolina Condominium Act" (the "Act") and Article III of the Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 in the Mecklenburg County Public Registry. WITNESSETH: WHEREAS, the Declarant created Belle Vista Condominium Phase IA by Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 as amended by First Amendment to Declaration of Belle Vista Condominium recorded in Book 1722_J at Page 710 in the Mecklenburg County Public Registry (collectively referred to herein as the "Declaration"); and WHEREAS, the Declaration provides in Article in that Declarant can add all or part of the Additional Property described on Exhibit A-1 ofthe Declaration to the Condominium pursuant to Section 47C-2-110 of the Act; and WHEREAS, the property described on Exhibit A attached hereto and incorporated herein by reference (the "Phase II Property") comprises a portion of the property described as Additional Property on Exhibit A-1 in the Declaration; and WHEREAS, Declarant desires to submit the Phase II Property to the provisions of the Act as Phase II of the Belle Vista Condominium and has constructed one (1) building I1TPL: 220622.1 DRAWN BY/MAIL TO: H. David Powell.(RD Box #194) Ste. 2600, 301 S. College St., Charlotte, NC 28202 on the Phase II Property and desires to divide the Phase II Property into forty (40) Condominium Units and designate all such Units for separate ownership as part of Belle Vista Condominium and subject to the Declaration; and - WHEREAS, the Declarant also desires to further amend the Declaration. NOW, THEREFORE, the Declarant hereby agrees and declares as follows: 1. The Declarant does hereby submit the Phase II Property and all improvements located thereon to the provisions of Chapter 47C of the North Carolina General Statutes as Phase II of Belle Vista Condominium, and does hereby divide the Phase II Property into forty (40) Condominium Units, each designated for separate ownership and does hereby publish and declare that all of the Phase II Property and the forty (40) Condominium Units created thereon, are subject and shall be held, conveyed, hypothecated, encumbered, used and occupied, subject to the covenants, conditions, restrictions, uses, limitations and obligations of the Declaration which isincorporated herein by reference, which shall be deemed to run with the land and shall be a burden and benefit to the Declarant, its successors and assigns, and any persons acquiring any interest in the Phase II Property and the forty (40) Condominium Units created thereon, their grantees, successors, heirs, executors, administrators, designees and assigns. 2. The Units created hereby are Units 05101 thru 05110, inclusive; Units 05201 thru 05210, inclusive; Units 05301 thru 05310, inclusive; and Units 05401 thru 05410, inclusive, and are more particularly described as shown on the plans and survey for Belle Vista Condominium Phase II recorded in Unit Ownership File No. 674 in the Office of the Register of Deeds for Mecklenburg County, North Carolina simultaneously with the recording of this Second Amendment and Supplemental Declaration and which plans and survey are incorporated herein by reference. 3. The Exhibit D to the Declaration setting forth the Percentage ofthe Undivided Interest in Common Elements and Common Expenses for the Units shall be deleted and replaced with the Exhibit B attached hereto and incorporated herein by reference, which describes all of the Units in Belle Vista Condominium, including the Units created out of the Phase II.Property and the Percentage of Undivided Interest in Common Elements and Common Expenses for all Units in Belle Vista Condominium. 4. The Declaration shall be amended by adding the following Section 5.3(i): "5.3(i). In the event that the Board shall determine that the same is in the best interest of the Condominium, the Board shall specify restrictions on the amount of hard floor surfaces which will be allowed in each Unit and requirements for HTPL: 220622.1 acoustical barriers to be used in the installation of any hard floors in a Unit. In the event that the Board shall at any time place restrictions on the amount of hard floor surfaces allowed in a Unit and requirements for acoustical barriers to be used in the installation of any hard floors in a Unit, all Unit Owners shall comply with such restrictions and requirements." 5. AlI capitalized terms herein shalt have the same meanings and definitions as set forth in the Declaration. IN WITNESS WHEREOF, Declarant has caused this Second Amendment and Supplemental Declaration to be executed as of the day and year first above written. PULTE HOME CORPORATION, a Michigan corporation Thomas W STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG ttorney-in-Fact 1, Q.' e 0. nivc,a.LIPt,s , a Notary Public for said County and State, do hereby certify that Thomas W. Bruce, Attorney -in -Fact for Pulte Home Corporation, a Michigan corporation, personally appeared before me this day and being by me duly sworn, says that he executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office ofthe Register of Deeds for Mecklenburg County, North Carolina, in Book 13074 at Page 900, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Thomas W. Bruce acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a.Michigan corporation; .................. R" T omission Expires: , ._. 4.0 •'w : \ wo� 4 J ,,,THilt: 220622.1 WITNESS my hand and official seal this 4 q' ' day of (Y\ H , 2004. Notary Public 3 EXHIBIT A • Legal Description of Phase II Property BEGINNING at a #4 rebar in the southwesterly margin ofDurant Boulevard (private street), said rebar marking the northerly corner of Belle Vista Condominium Phase 1 A as shown in Unit Ownership File No. 674 in the Mecklenburg County Public Registry, said rebar also being located North 34-40-37 West 67.94 feet from set concrete monument "Control Corner" with N.C. Grid Coordinates (NAD 83) ofN = 479,583.456 and E= 1,445,041.894, and running thence from said Beginning Point with the northwesterly margin of the aforesaid Belle Vista Condominium Phase 1A as described in Unit Ownership File No. 674 in the Mecklenburg County Public Registry South 54-54-07 West 314.88 feet to a#4 rebar; thence North 34-05-37 West 85.85 feet to a point; thence North 34-30-42 West 157.76 feet to a #4 rebar in the southeasterly margin of Ballantyne Commons West Parcel D Phase 1 Map 4 recorded in Map Book 38 at Page 7 in the Mecklenburg County Public Registry; thence with the aforesaid southeasterly margin of Ballantyne Commons West Parcel D Phase 1 Map 4 and the southeasterly margin of Ballantyne Commons West Parcel D Phase 1 Map 3 recorded in Map Book 37 at Page 659 in the Mecklenburg County Public Registry North 51-23-18 East 202.38 feet to a #4 rebar; thence with the easterly margin of the aforesaid Ballantyne Commons West Parcel D Phase 1 Map 3 North 08-27-16 East 98.66 feet to a #4 rebar in the southerly margin of Ballantyne Commons West Parcel D Phase 1 Map.1 recorded in Map Book 36 at Page 269 in the Mecklenburg County Public Registry; thence with the southerly margin ofthe aforesaid Ballantyne Commons West Parcel D Phase 1 Map 1 North 74-26-25 East 74.75 feet to a #4 rebar in the aforesaid southwesterly margin of the right-of-way of Durant Boulevard (private street); thence with the southwesterly margin ofthe right ofway ofDurant Boulevard (private street) the following two (2) courses and distances: (1) with the arc of a circular curve to the left having a radius of 480.0 feet, a chord bearing and distance of South 25-07-06 East 159.19 feet, an arc distance of 159.93 feet to a set concrete monument ("Control Corner") with N. C. Grid Coordinates (NAD 83) ofN = 479,759.131 and E = 1,444,920.355 and (2) South 34-40-37 East 145.71 feet to the Point and Place of BEGINNING and containing 1.971 acres, all as shown on survey entitled "Final Plat of Belie Vista Condominium Phase II" dated March 10, 2004 by Scott L. Hunter of ESP Associates, P.A., to which survey reference is hereby made for a more particular description of the property. HTPL: 220622.1 4 EXHIBIT B TO SECOND AMENDMENT AND SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE II UNIT NUMBER UNIT TYPE 04101 04102 04103 04104 04105 04106 04107 04108 04109 04110 04201 04202 04203 04204 04205 04206 04207 04208 04209 042I0 04301 HTPL: 220622. I B A B C C B A B C C B A B C C B A B C C B PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 04302 04303 04304 04305 04306 04307 04308 04309 04310 04401 04402 04403 04404 04405 04406 04407 04408 04409 04410 05101 05102 05103 05104 05105 05106 05107 05108 HTPL; 220622.1 A 1.1718% B 1.2500% C 1.2891% C 1.2891% B 1.2500% A 1.1718% B 1.2500% C 1.2891% C 1.2891% B 1.2500% A 1.1718% B 1.2500% C 1.2891% C 1.2891% B 1.2500% A 1.1718% 13 1.2500% C 1.2891% C 1.2891% B 1.2500% A 1.1718% B 1.2500% 1.2891% C 1.2891% B 1.2500% A 1.1718% B 1.2500% 05109 05110 05201 05202 05203 05204 05205 05206 05207 05208 05209 05210 05301 05302 05303 05304 05305 05306 05307 05308 05309 05310 05401 05402 05403 05404 05405 HTPL: 220622.1 c c B A B c c B A B c c B A B c c B A B c c B A B c c 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 1.2500% 1.1718% 1.2500% 1.2891% 1.2891% 05406 B 1.2500% 05407 A 1.1718% 05408 B 1.2500% 05409 C 1.2891% 05410 C 1.2891% 100% HTPL: 220622.1 JUDITH A. GIBSON, REGISTER OF DEEDS By: Deputy/Assistant Register of Deeds JUDITH A. GIBSON REGISTER OF DEEDS, MECKLENBURG COUNTY & COURTS OFFICE BUILDING 720 EAST FOURTH STREET CHARLOTTE, NC 28202 Filed For Registration: 05/201200411:42 AM Book: - RE 17225 Page: 730-738 Document No.: 2004112545 DEC/U 9 PGS $35.00 Recorder: DONYETTA HARGROVE State of North Carolina, County of Mecklenburg The foregoing certificate of PAMELA 0 MCAULEY Notary is certified' to be correct. This 20TH of May 2004 C /L/47e—etee4- - 11111111111111111111111111111111111113111111111111111111 2004112545 FOR REGISTRATION JUDITH A. GIBSON REGISTER OF DEEDS MECKLENBURG COUNTY. NC 2005 AUG 09 10:00 AM BK:/9159 PG:500-511 FEE:$44.00 INSTRUMENT 4 2005152009 111119131111 STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE III THIS SUPPLEMENTAL DECLARATION and Exhibits which are attached hereto and made a part hereof are made and executed as of the Bj,j day of August, 2005 by PULTE HOME CORPORATION, a Michigan corporation (the "Declarant"), for itself, its successors and assigns, pursuant to the provisions of Chapter 47C of the North Carolina General Statutes entitled the "North Carolina Condominium Act" (the "Act") and Article III of the Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 in the Mecklenburg County Public Registry. WITNESSETFI: WHEREAS, the Declarant created Belle Vista Condominium Phase IA by Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 as amended by First Amendment to Declaration of Belle Vista Condominium recorded in Book 17225 at Page 710 and Second Amendment to Declaration of Belle Vista Condominium and Supplemental Declaration of Belle Vista Condominium Phase II recorded in Book 17225 at Page 730 in the Mecklenburg County Public Registry (collectively referred to herein as the "Declaration"); and WHEREAS, the Declaration provides in Article III that Declarant can add all or part of the Additional Property described on Exhibit A-1 of the Declaration to the Condominium pursuant to Section 47C-2-110 ofthe Act; and DRAWN BY AND MAIL TO: H. David Powell, Esq. (RD Box #194) Horack Talley Pharr & Lowndes, P.A. 2600 One Wachovia Center 301 South College Street, Suite 2600 Charlotte, NC 28202-6038 1-1TPL: 257553 v WHEREAS, the property described on Exhibit A attached hereto and incorporated herein by reference (the "Phase III Property") comprises a portion of the property described as Additional Property on Exhibit A-1 in the Declaration; and WHEREAS, Declarant desires to submit the Phase III Property to the provisions of the Act as Phase III of the Belle Vista Condominium and has constructed one (1) building on the Phase III Property and desires to divide the Phase III Property into forty (40) Condominium Units and designate all such Units for separate ownership as part of Belle Vista Condominium and subject to the Declaration. NOW, THEREFORE, the Declarant hereby agrees and declaresas follows: 1. The Declarant does hereby submit the Phase . III Property and all improvements located thereon to the provisions of Chapter 47C of the North Carolina General Statutes as Phase III of Belle Vista Condominium, and does hereby divide the Phase III Property into forty (40) Condominium Units, each designated for separate ownership and does hereby publish and declare that all of the Phase III Property and the forty (40) Condominium Units created thereon, are subject and shall be held, conveyed, hypothecated, encumbered, used and occupied, subject to the covenants, conditions, restrictions, uses, limitations and obligations of the Declaration which is incorporated herein by reference, which shall be deemed to run with the land ,and shall be a burden and benefit to the Declarant, its successors and assigns, and any persons acquiring any interest in the Phase III Property and the forty (40) Condominium Units created thereon, their grantees, successors, heirs, executors, administrators, designees and assigns. 2. The Units created hereby are Units 06101 thru 06110, inclusive; Units 06201 thru 06210, inclusive; Units 06301 thru 06310, inclusive; and Units 06401 thru 06410, inclusive, and are more particularly described as shown on the plans and survey for Belle Vista Condominium Phase III recorded in Unit Ownership File No. 674 in the Office of the Register of Deeds for Mecklenburg County, North Carolina simultaneously with the recording of this Supplemental Declaration and which plans and survey are incorporated herein by reference. 3. The Exhibit D to the Declaration setting forth the Percentage of the Undivided Interest in Common Elements and Common Expenses for the Units shall be deleted and replaced with the Exhibit B attached hereto and incorporated herein by reference, which describes all of the Units in Belle Vista Condominium, including the Units created out of the Phase III Property and the Percentage of Undivided Interest in Common Elements and Common Expenses for all Units in Belle Vista Condominium. 4. A1I capitalized terms herein shall have the same meanings and definitions as set forth in the Declaration. HTPL: 257553 vl IN WITNESS WHEREOF, Declarant has caused this Second Amendment and Supplemental Declaration to be executed as of the day and year first above written. PULTE HOME CORPORATION, a Michigan corporation By: S Jon S. Hardy, Attorne -Fact STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG I, 4aa , a Notary Public for said County and State, do hereby certify that Jon S. Hardy, Attorney -in -Fact for Pulte Home Corporation, a Michigan corporation, personally appeared before me this day and being by me duly sworn, says that he executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in Book 18160 at Page 354, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Jon S. Hardy acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. WITNESS my hand and official seal this My Commission Expires: /,W� J,3, Ale? Notary Public day of August, 2005. HTPL: 257553 v1 EXHIBIT A Legal Description of Phase III Property Lying and being in the City of Charlotte, Mecklenburg County, North Carolina and being more particularly described as follows: BEGINNING at SCM "Control Corner" with NC Grid Coordinates (NAD 83) of N 479,L42.980 and E = 1,444,730.637, said control comer being located North 15-12-48 East 5,099.18 ground distance and 5,098.43 grid distance from NCGS Monument "Lowery" with NC Grid Coordinates (NAD 83) of N = 474,223.218 and E = 1,443,392.746; thence from said Beginning Point, North 61-47-36 West 155.43 feet to SCM "Control Corner" with NC Grid. Coordinates (NAD 83) of N = 479,215.901 and E = 1,444,593.194; thence North 39-11-29 West 337.13 feet to a point in the southeasterly margin of the common open space of Ballantyne Commons Parcel D Phase 1 Map 6 recorded in Map Book 38 at Page 729 in the Mecklenburg County Public Registry; thence with the southwesterly property line of the aforesaid common open space in Ballantyne Commons Parcel D Phase 1 Map 6 and the southeasterly lot lines of Lots 10, 11, 12 and 13 of Ballantyne Commons Parcel D Phase 1 Map 4 recorded in Map Book 38 at Page 7 in the Mecklenburg County Public Registry, North 51-23-18 East 291.18 feet to a point marking the westerly comer of Belle Vista Condominium Phase II asshown in Unit Ownership File No. 674 at Page 9 in the Mecklenburg County Public Registry; thence with the southwesterly property line of the aforesaid Belle Vista Condominium Phase II and the property lines of Belle Vista Condominium Phase IA as shown in Unit Ownership File No. 674 at Page 1 in the Mecklenburg County Public Registry, the following six (6) courses and distances: (1) South 34-30-42 East 157.76 feet to a point, (2) South 34-05-37 East 85.85 feet to a point, (3) South 34-05-37 East 59.32 feet to a set mag nail, (4) South 45-39-09 East 61.70 feet to a point, (5) South 30-24-31 West 71.41 feet to a set mag nail and (6) South 60-43-48 East 27.09 feet to a set mag nail; thence South 28-18-53 West 168.43 feet to the Point and Place of BEGINNING and containing 2.682 acres, all as shown on survey entitled "Final Plat of Belle Vista Condominium Phase III" dated May 24, 2005 by Scott L. Hunter of ESP Associates, P.A., to which survey reference is hereby made for a more particular description of the property. HTPL: 257553 v EXHIBIT B TO SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE III UNIT NUMBER UNIT TYPE 04101 B 04102 A 04103 B 04104 C 04105 C 04I06 B 04107 A 04108 B 04109 C 04I10 C 04201 B 04202 A 04203 B 04204 C 04205 c 04206 B HTPL: 257553 v[ PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS • AND COMMON EXPENSES .8333% .7813% .8333% .8594% .8594% . 8333% .7813% . 8333% .8594% . 8594% .8333% .7813% .8333% .8594% .8594% .8333% UNIT NUMBER UNIT TYPE 04207 A 04208 04209 04210 04301 04302 04303 04304 04305 04306 04307 04308 04309 04310 04401 04402 04403 04404 B c c B A B c c B A B c c B A B c PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .7813% .8333% .8594% .8594% .8333% .7813% .8333% .8594% .8594% .8333% .7813% .8333% .8594% .8594% .8333% .7813% .8333% .8594% HTPL: 257553 vl UNIT NUMBER UNIT TYPE 04405 C 04406 B 04407 04408 04409 A C 04410 C 05101 B 05102 A 05103 B 05104 C 05105 C 05106 B 05107 A 05108 B 05109 C 05110 C 05201 B 05202 A HTPL: 257553 v1 PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .8594% .8333% .7813% .8333% .8594% . 8594% . 8333% .7813% .8333% .8594% .8594% .8333% .7813% _8333% .8594% .8594% .8333% .7813% UNIT NUMBER UNIT TYPE 05203 B 05204 C 05205 05206 05207 05208 05209 05210 05301 05302 05303 05304 05305 05306 05307 05308 05309 05310 HTPL: 257553 v] C A B C B' A .B ;C A 'C PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .8333% .8594% .8594% .8333% .7813% .8333% .8594% .8594% .8333% :7813% .8333% .8594% .8594% .8333% .7813% .8333% .8594% .8594% UNIT NUMBER UNIT TYPE 05401 B 05402 A 05403 B 05404 C 05405 C 05406 B 05407 A 05408 B 05409 C 05410 C 06101 B 06102 A 06103 B 06104 C 06105 C 06106 B 06107 A 06108 13 HTPL:257553 vI PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .8333% .7813% .8333% .8594% .8594% .8333% . 7813% . 8333% .8594% .8594% .8333% .7812% .8333% .8594% .8594% .8333% .7812% .8333% UNIT NUMBER UNIT TYPE 06109 C 061I0 C 06201 B 06202 A 06203 B 06204 C 06205 06206 06207 06208 06209 06210 06301 06302 06303 06304 06305 06306 06307 06308 C B A B C C B A B C C B A B PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .8594% .8594% .8333% .7812% . 8333% . 8594% .8594% .8333% .7812% .8333% .8594% .8594% .8333% .7812% .8333% .8594% _8594% .8333% .7812% .8333% HTPL: 257553 vI UNIT NUMBER UNIT TYPE 06309 06310 06401 06402 06403 06404 06405 06406 06407 06408 06409 06410 C c B A B C C B A B C C r PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .8594% .8594% .8333% .7812% .8333% .8594% .8594% . 8333% . 7812% .8333% .8594% .8594% 100% HIM: 257553 vl • JUDITH A. GIBSON REGISTER OF DEEDS, MECKLENBURG COUNTY & COURTS OFFICE BUILDING 720 EAST FOURTH STREET CHARLOTTE, NC 28202 PLEASE RETAIN YELLOW TRAILER PAGE It is part of the recorded document, and must be submitted with original for re-recording and/or cancellation. Filed For Registration: 08/0912005 10:08 AM Book: RE 19159 Page: 500-511 Document No.: , 2005152009 DEC/U 12 PGS $44.00 Recorder: GRACE TUCKER State of North Carolina, County of Mecklenburg The foregoing certificate of DANA L FOWLER Notary Is certified to be correct. This 9TH of August 2005 JUDITH A. GIBSON, REGISTER OF DEEDS By: Deputy/Assistant Register of Deeds *** 111111111111111111111111111111111111111111111111111111111111 2005152009 STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG FOR REGISTRATION JUDITH A. GIBSON REGISTER OF DEEDS MECKLENBURG COUNTY, NC 2006 OCT 25 03:53 PM BK:2t259 PG21-.44t FEE:$71:00 INSTRUMENT 11 200622260E 111 200622260 SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE VII THIS SUPPLEMENTAL DECLARATION and Exhibits which are attached hereto and made a part hereof are made and executed as of the '`��d'ay of ( ?k11r, 2006 by PULTE HOME CORPORATION, a Michigan corporation (the `Declarant"), for itself, its successors and assigns, pursuant to the provisions of Chapter 47C of the North Carolina General Statutes entitled the "North Carolina Condominium Act" (the "Act") and Article III of the Declaration of Belle Vista. Condominium recorded in Book 16780 at Page 275 in the Mecklenburg County Public Registry. WIZNESSETI-I: WHEREAS, the Declarant created Belle Vista Condominium Phase IA by Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 as amended by First Amendment to Declaration of Belle Vista Condominium recorded in Book 17225 at Page 710, Second Amendment to Declaration of Belle Vista Condominium and Supplemental Declaration of Belle Vista Condominium Phase II recorded in Book 17225 at Page 730, Supplemental Declaration of Belle ista Condominium Phase III recorded in Book 1.9159 at Page 500, Supplemental Declarat° n of Belle Vista Condominium Phase IV recorded in Book 19850 at Page 217 in th Mecklenburg County Public Registry, Supplemental Declaration of Belle Vista Condominium Phase V recorded in Book 20413 at Page 800 and Supplemental Declaration of Belle Vista Condominium Phase VI recorded in. Book 20958 at Page 554 in the Mecklenburg County Public Registry (collectively referred to herein as the "Declaration"); and DRAWN BY AND MAIL To: H. David Powell, Esq. (RD Box # 194) Horack Talley Pharr & Lowndes, P.Aw 2600 One Wachovia Center 301 South College Street, Suite 2600 Charlotte, NC 28202-6038 I1TPL, 302670 v I • • WHEREAS, the Declaration provides in Article III that Declarant can add all or part of the Additional Property described on Exhibit A-1 of the Declaration to the _ Condominium pursuant to Section 47C-2-110 of the Act; and WHEREAS, the property described on Exhibit A attached hereto and incorporated herein by reference (the "Phase VII Property") comprises a portion of the property described as Additional Property on Exhibit A-1 in the Declaration; and WHEREAS, Declarant desires to submit the Phase VII Property to the provisions of the Act as Phase VII of the Belle Vista Condominium and has constructed one (1) building on the Phase VII Property and desires to divide the Phase VII Property into forty (40) Condominium Units and designate all such Units for separate ownership as part of Belle Vista Condominium and subject to the Declaration. NOW, THEREFORE, the Declarant hereby agrees and declares as follows: 1. The Declarant does hereby submit the Phase VII Property and all improvements located thereon to the provisions of Chapter 47C of the North Carolina General Statutes as Phase VII of Belle Vista Condominium, and does hereby divide the Phase VII Property into forty (40) Condominium Units, each designated for separate ownership and does hereby publish and declare that all of the Phase VII Property and the forty (40) Condominium Units created thereon, are subject and shall be held, conveyed, hypothecated, encumbered, used and occupied, subject to the covenants, conditions, restrictions, uses, (imitations and obligations of the Declaration which is incorporated herein by reference, which shall be deemed to run with the land and shall be a burden and benefit to the Declarant, its successors and assigns, and any persons acquiring any interest in the Phase VII Property and the forty (40) Condominium Units created thereon, their grantees, successors, heirs, executors, administrators, designees and assigns.. 2. The Units created hereby are Units 02101 thru 02110, inclusive; Units 02201 thru 02210, inclusive; Units 02301 thru 02310, inclusive; and Units 02401 thru 024I0, inclusive, and are more particularly described as shown on the plans and survey for Belle Vista Condominium Phase VII recorded in Unit Ownership File No. 674 in the Office of the Register of Deeds for Mecklenburg County, North Carolina simultaneously with the recording of this Supplemental Declaration and which plans and survey are incorporated herein by reference. 3. The Exhibit D to the Declaration setting forth the Percentage of the Undivided Interest in Common Elements and Common Expenses for the Units shall be deleted and replaced with the Exhibit B attached hereto and incorporated herein by reference, which describes all of the Units in Belle Vista Condominium, including the Units created out of the Phase VII Property and the Percentage of Undivided Interest in Common Elements and Common Expenses for all Units in Belle Vista Condominium. HTPL:302670 vl 4. All capitalized terms herein shall have the same meanings and definitions as set forth in the Declaration. IN WITNESS WHEREOF, Declarant has caused this Supplemental Declaration to be executed as of the day and year first above written. PULTE HOME CORPORATION, a Michigan corporation By: S Jon S. Hardy, Attorney -in 'act STATE OF NORTH CAROLINA 1,Glc , a Notary Public for said County and State, do hereby certify that Jon 'S. Hardy, Attorney -in -Fact for Pulte Home Corporation, a Michigan corporation, personally known to me, personally appeared before me this day and being by me duly sworn, acknowledged that he voluntarily executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in Book 18160 at Page 354, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Jon S. Hardy acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. WITNESS my hand and official seal this S day of �(��l �r , 2006. /((:)27t J44) My Commission Expires: N`sottary Public )� ` � �Z; , 0-6,-,7 0 Print Name: \( 1Y1� / I Uj2//'/ HTPL: 302670 vl EXHIBIT A Legal Description of Phase VII Property Lying and being in the City of Charlotte, Mecklenburg County, North Carolina, and being more particularly described as follows: BEGINNING at a #4 rebar in the southwesterly margin of the 80' private access road, John J. Delaney Drive marking the eastern comer of Belle Vista Condominium Phase IV described in Unit Ownership File No. 674 at Page 25 in the Mecklenburg County Public Registry, said . Beginning Point, also being located the following two (2) courses and distances from N.C.G.S. Monument "Lowery", NC Grid Coordinates (NAD 83) of N = 474,223.218 and E = 1,443,392.746: North 22-24-22 East grid distance of 5,533.07 feet and ground distance of 5,533.88 feet to a PSCM "Control Corner" with NC Grid Coordinates (NAD 83) of N = 479,338.569 and E = 1,445,501.783 and (2) with the southwesterly margin of the aforesaid John J. Delaney Drive South 72-39-04 East 103.79 feet to the Beginning Point, and running thence from said Beginning Point with the aforesaid southwesterly margin of John J. Delaney Drive, South 72-39-04 East 215.64 feet to PSCM "Control Corner" with NC Grid Coordinates (NAD 83) of N = 479,243.332 and E = 1,445,806.639; thence continuing with the southwesterly margin of the aforesaid John J. Delaney Drive with the arc of a circular curve to the right having a radius of 209.49 feet, a chord bearing and distance of South 70-03-02 East 19.01 feet and an arc distance of 19.02 feet to a #4 rebar; thence South 25-30-28 West 243.46 feet to a #4 rebar; thence South 60-08-01 East 53.10 feet to a 44 rebar; thence South 48-20-28 East 35.78 feet to a 44 rebar; thence South 28-11-17 East 35.47 feet to a #4 rebar; thence South 32-10-51 West 26.90 feet to a point; thence with a circular curve to the right having a radius of 16.00 feet, a chord bearing and distance of South 86-48-39 West 11.23 feet and a chord bearing and distance of 11.47 feet to a set MAG nail in asphalt; thence North 72-39-04 West 37.32 feet to a set drill hole in concrete; thence North 68-40-13 West 53.94 feet to a #4 rebar; thence North 51-02-33 West 39.87 feet to a #4 rebar; thence North 71-49-07 West 129.19 feet to a #4 rebar in the easterly margin of Belle Vista Condominium Phase VI as shown in Unit Ownership File No. 674 at Page 41 in the Mecklenburg County Public Registry; thence with the easterly margin of the aforesaid Belle Vista Condominium Phase VI, the following three (3) courses and distances: (1) North 50- 31-59 West 31.32 feet to a point, (2) North 11-29-25 West 22.22 feet to a #4 rebar and (3) North 16-44-32 East 49.53 feet to a #4 rebar marking the southerly corner of the aforesaid Belle Vista Condominium Phase IV; thence with the southeasterly property line of the aforesaid Belle Vista Condominium Phase IV, North 18-41-16 East 221.86 feet to the Point and Place of BEGINNING, and containing 1.664 acres, all as shown on survey entitled "Final Plat of Belle Vista' Condominium Phase VII Building 2", dated September 12, 2006, by Scott L. Hunter of ESP Associates, P.A., to which survey reference is hereby made for a more particular description of the property and which survey is being recorded in Unit Ownership File No. 674 contemporaneously with the recording of this Supplemental Declaration. HTPL: 302670 v EXHIBIT B TO SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE VII UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 02-101 B .3572% 02102 A .3348% 02103 B .3572% 02104 C .3683% 02105 C .3683% . 02I06 B .3572% 02107 A .3348% 02108 B .3572% 02109 C .3683% 02110 C .3683% 02201 B .3572% 02202 A .3348% 02203 B .3572% 02204 C .3683% 02205 C .3683% 02206 B .3572% HTPL: 302670 vi UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 02207 A .3348% 02208 B .3572% 02209 C .3683% 02210 C .3683% .02301 B .3572% 02302 A .3348% 02303 B .3572% 02304 C .3683% .02305 C .3683% 02306 B .3572% 02307 A .3348% 02308 B .3572% 02309 . C r .3683% 02310 C .3683% 02401 B .3572% 02402 A .3348% 02403 B .3572% 02404 C .3683% HTPL: 302670 v1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 02405 C .3683% 02406 B .3572% 02407 A .3348% 02408 B .3572% 02409 C .3683% 02410 C .3683% 03101 B .3572% 03102 A .3348% 03I03 B .3572% 03104 C .3683% 03105 C .3683% 03106 B .3572% 03107 A .3348% 03108 B .3572% 03109 C .3683% 03110 C .3683% 03201 B .3572% 03202 A .3348% 03203 B .3572% HTPL: 302670 v 1 UNIT NUMBER UNIT TYPE 03204 C 03205 C 03206 B 03207 A 03208 B 03209 C 03210 C 03301 B 03302 A 03303 B 03304 C 03305 C 03306 B 03307 A 03308 B 03309 C 03310 C 03401 B HTPL: 302670 vl PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3683% .3683% .3572% .3348% .3572% 3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% UNIT NUMBER UNIT TYPE 03402 A 03403 B 03404 C 03405 C 03406 B 03407 03408 03409 03410 04101 A B C C B 04102 A 04103 13 04104 C 04105 C 04I06 B 04107 A 04108 B 04109 C PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% HTPL: 302670 vl UNIT NUMBER UNIT TYPE 04110 C 04201 B 04202 A 04203 B 04204 C 04205 c 04206 B 04207 A 04208 B 04209 c 04210 c 04301 B 04302 A 04303 B 04304 c 04305 c 04306 B 04307 A HTPL 302670 v I PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683%© .3683% .3572% .3348% UNIT NUMBER UNIT TYPE 04308 B 04309 C 04310 C. 04401 B 04402 A 04403 B 04404 C 04405 C 04406 B 04407 A 04408 B 04409 •C 04410 C 05101 ]3 05102 A 05103 B 05104 C 05105 c HTPL: 302670 vl PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% ..3683% UNIT NUMBER UNIT TYPE 05106 B 05107 A 05108 B 05109 C 05110 C 05201 B 05202 A 05203 B 05204 C 05205 C 05206 B 05207 A 05208 13 05209 C 05210 C 05301 B 05302 05303 A PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3572% .3348% .3572% .3683% .3683% . 3572% . 3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% HTPL: 302670 v I UNIT NUMBER UNIT TYPE 05304 C 05305 C 05306 B 05307 A 05308 B 05309 C 053I0 C 05401 B 05402 A 05403 B 05404 C 05405 C 05406 B 05407 A 05408 B 05409 C 05410 C 06101 B HTPL: 302670 vl PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3683% .3683% .3572% .3348% .3572% .3683% .3683% .3572% .3348% .3572% .3683% .3683%° .3572% .3348% .3572% .3683% .3683% .3571% UNIT NUMBER UNIT TYPE 06102 A 06103 06104 06105 06106 06107 06I08 06109 06110 06201 06202 06203 06204 06205 06206 B C C B A B C C B A B C C B 06207 A 06208 B 06209 C HTPL: 302670 vl PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES . 3348% .3571% . 3683% . 3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% UNIT NUMBER UNIT TYPE 06210 C 06301 B 06302 A 06303 B 06304 C 06305 C 06306 B 06307 A 06308 B 06309 C 06310 C 06401 B 06402 A 06403 B 06404 C 06405 C 06406 B 06407 A HTPL: 302670 v1 PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% UNIT NUMBER UNIT TYPE 06408 06409 06410 07101 07102 07103 07104 07105 07106 07107 07108 07109 07110 07201 07202 07203 07204 07205 HTPL: 302670 v 1 B B A B B A B B A B PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571 % .3683% .3683% UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07206 B .3571% 07207 A .3348% 07208 B .3571% 07209 C .3683% • 07210 C .3683% 07301 B .3571% 07302 A .3348% 07303 B .3571% 07304 C .3683% 07305 C .3683% 07306 B .3571% 07307 A .3348% 07308 B .3571% 07309 C .3683% 07310 C .3683% 07401 B .3571% 07402 A .3348% 07403 B .3571% HTPL: 302670 vl UNIT NUMBER UNIT TYPE 07404 C 07405 C 07406 B 07407 A 07408 B 07409 C 07410 C 08101 B 08102 A 08103 B 08104 C 08105 C 08106 B 08107 A 08108 B 08109 C 08110 c 08201 B HTPL: 302670 vl PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% UNIT NUMBER UNIT TYPE 08202 08203 08204 08205 08206 08207 08208 08209 08210 08301 08302 08303 08304 08305 08306 08307 08308 08309 HTPL: 302670 vI A B c c B A B c c B A B c c B A B _ c PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3348% .3571% .3683% .3683% .3571% .3348% .3571% .3683% .3683% .3571% .3348% .3571 % .3683% .3683% .3571% .3348% .3571% .3683% UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 08310 C .3683% 08401 B .3571% 08402 A .3348% 08403 B .3571% 08404 C .3683% 08405 C .3683% 08406 B .3571% 08407 A .3348% 08408 B .3571% 08409 C .3683% 08410 C .3683% 100% HTP L: 302670 v i JUDITH A. GIBSON REGISTER OF DEEDS, MECKLENBURG COUNTY & COURTS OFFICE BUILDING 720 EAST FOURTH STREET CHARLOTTE, NC 28202 PLEASE RETAIN YELLOW TRAILER PAGE It is part of the recorded document, and must be submitted with original for re-recording and/or cancellation. ******************************************ff*RfIiMA!#***********Oht******* *********** ******************f+H4** Filed For Registration: 10/25/2006 03:53 PM Book: RE 21259 Page: 21-41 Document No.: 2006222608 DECIU 21 PGS $71.00 Recorder: LYVANH PHETSARATH 1111111111111111111111111111111111111.11111111111111 1111 1111 2006222608 STATE OF NORTH CARGLINA COUNTY OF MECKLENBURG FOR REGISTRATION JUDITH R. GIOSON REGISTER OF DEEDS MECKLENBURG COUNTY NC 2006 PGUG 25 ©3a47 PM 554-573 FEE:$68,00 INSTRUMENT R 2005176092 2006 i7609M SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE VI THIS SUPPLEMENTAL DECLARATION and Exhibits which are attached hereto and made a part hereof are made and executed as of the Jj day o:L 2006 by PUL FE HOME CORPORATION, a Michigan corporation (the "Declarant"), for itself, its successors and assigns, pursuant to the provisions of Chapter 4'7C of the North Carolina General Statutes entitled the "North Carolina Condominium Act" (the "Act") and Article III of the Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 in the Mecklenburg County Public Registry. WITNESSETH: WHEREAS, the Declarant created Belle Vista Condominium Phase IA by Declaration of Belle Vista Condominium recorded in. Book 16780 at Page 275 as amended by First Amendment to Declaration of Belle Vista Condominium recorded in Book 17225 at Page 710, Second Amendment to Declaration of Belle Vista Condominium and Supplemental Declaration of Belle Vista Condominium Phase II recorded in Book 17225 at Page 730, Supplemental Declaration of Belle Vista Condominium Phase III recorded in Book 19159 at .Page 500, Supplemental Declaration. of Belle Vista Condominium Phase IV recorded in Book 19850 at. Page 217 in the Mecklenburg County Public Registry and Supplemental Declaration of Belle Vista Condominium Phase V recorded in Book 20413 at Page 800 in the Mecklenburg County Public Registry (collectively referred to herein as the "Declaration"); and WHEREAS, the Declaration provides in Article III that Declarant can add all or part of the Additional Property described on Exhibit A -I of the Declaration to the Condominium pursuant to Section 47C-2-1 10 of the Act,. and DRAWN BY AND MAIL TO: H. David Powell, Esc!, (RD Box #194) Horack Talley Pharr & Lowndes, PEA. 2600, One Wachovia Center 301 South College Street, Suite 2600 Charlotte, NC 28202-6038 HTPL: 296878 vl WHEREAS, the property described on Exhibit A attached hereto and incorporated herein by reference (the "Phase VI Property") comprises .a portion of the property described as Additional Property on Exhibit A-1 in the Declaration; and WHEREAS, Declarant desires to submit the Phase VI Property to the provisions of the Act as Phase VI of the Belle Vista Condominium and has constructed one (1) building on the Phase VI Property and desires to divide the Phase VI Property into forty (40) Condominium Units and designate all such Units for separate ownership as part of Belle Vista Condominium and subject to the Declaration. NOW, THEREFORE, the Declarant hereby agrees and declares as follows: 1. The Declarant does hereby submit the Phase VI Property and all improvements located thereon to the provisions of Chapter-47C of the North Carolina General Statutes as Phase VI of Belle Vista Condominium, and does hereby divide the Phase VI Property into forty (40) Condominium Units, each designated for separate ownership and does hereby publish and declare that all of the Phase VI Property and the forty (40) Condominium Units created thereon, are subject and shall be held, conveyed, hypothecated, encumbered, used and occupied, subject to the covenants, conditions, restrictions, uses, limitations and obligations of the Declaration which is incorporated herein by reference, which shall be deemed to run with the land and shall be a burden and benefit to the Declarant, its successors and assigns, and any persons acquiring any interest in the Phase VI Property and the forty (40) Condominium Units created thereon, their grantees, successors, heirs, executors, administrators, designees and assigns. 2. The Units created hereby are Units 08101 thru 08110, inclusive; Units 08201 thru 08210, inclusive; Units 08301 thru 08310, inclusive; and Units 08401 thru 08410, inclusive, and are more particularly described as shown on the plans and survey for Belle Vista Condominium Phase VI recorded in Unit Ownership File No. 674 in the Office of the Register of Deeds for Mecklenburg County, North Carolina simultaneously with the recording of this Supplemental Declaration and which plans and survey are incorporated herein by reference. 3. The Exhibit D to the Declaration setting forth the Percentage of the Undivided Interest in Common Elements and Common Expenses for the Units shall be deleted and replaced with the Exhibit B attached hereto and incorporated herein by reference, which describes all of the Units in Belle Vista Condominium, including the Units created out of the Phase VI Property and the Percentage of Undivided Interest in Common Elements and Common Expenses for all Units in Belle Vista Condominium. 4. All capitalized terms herein shall have the same meanings and definitions as set forth in the Declaration. HTPL: 296878 vk IN WITNESS WHEREOF, Declarant has caused this Supplemental Declaration to be executed as of the day and year first above written. PULTE HOME CORPORATION, a Michigan corporation By: . I a„r Jon S. Hardy, Attorney- -Fact STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG I, Grto ) , a Notary Public for said County and State, do hereby certify that Jon S. Hardy, Attorney -in -Fact for Pulte Home Corporation; a Michigan corporation, personally known to me, personally appeared before me this day and being by me duly sworn, acknowledged that he voluntarily executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in Book 18160 at Page 354, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Jon S. Hardy acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. WITNESS my hand and official seal this ] f day of 2006. My Commission Expires: -kcO4. oi3rce, ADD 9 aro (1, 177d1-6 ) Notary Public Print Name: ,/ „a l HTPI.: 296878 vl EXHIBIT A Legal Description of Phase VI Property Lying and being in the City of Charlotte, Mecklenburg County, .North Carolina, and being more particularly described as follows: BEGINNING at a found #4 rebar marking the northerly common corner of Lot 521 and Lot 522 in Ballantyne Country Club Phase 10, Map 2 recorded in Map Book 28 at Page 652 in the Mecklenburg County Public Registry and running thence from said Beginning Point with the rear lot lines of Lots 522, 523, 524, 525, 526, 527 and 528 in the aforesaid Ballantyne Country Club Phase 10, Map 2, the following four (4) courses and distances: (I) South 84-09-44 West 192.62 feet to a found #4 rebar, (2) North 41-51-33 West 128.85 feet to a point, (3) North 00-30- 53 East 102.53 feet to a point and (4) North 36-12-21 West 399.68 feet to a found #4 rebar; thence with the southeasterly margin of the Common Open Space shown on map of Ballantyne Commons West Parcel D Phase 1 Map 5 recorded in Map Book 38 at Page 425 in the Mecklenburg County Public Registry and the southeasterly margin of the Common Open Space shown on Ballantyne Commons West Parcel D, Phase 1, Map 6 recorded in Map Book 38 at Page 729 in the Mecklenburg County Public Registry, North 51-23-18 East 203.09 feet to a point; thence with the southwesterly margin of Belle Vista Condominium Phase III shown in Unit Ownership File No. 674 at Page I7 in the Mecklenburg County Public Registry, the following two (2) courses and distances: (1) South 39-11-29 East 337.13 feet to a PSCM "Control Corner" NC Grid Coordinates (NAD 83) N = 479,216.433, E = 1,444,593.687 and (2) South 61-47-36 East 155.43 feet to a PSCM "Control Corner" NC Grid Coordinates (NAD 83) N = 479,142.980, E = 1,444,730.637; thence with the southerly property lines of Belle Vista Phase V shown in Unit Ownership File No. 674 at Page 33 in the Mecklenburg County Public Registry, the following five (5) courses and distances: (1) South 70-33-55 East 102.22 feet to a point, (2) South 82-05-25 East 215.30 feet to a point, (3) South 70-04-30 East 82.20 feet to a point, (4) South 52-38-13 East 26.26 feet to a point and (5) North 67-26-47 East 266.55 feet to a point; thence with the southerly margin of Belle Vista Condominium Phase IV shown in Unit Ownership File No. 674 at Page 25 in the Mecklenburg County Public Registry, the following three (3) courses and distances: (1) South 28-36-12 East 46.32 feet to a point, (2) North 62-06-49 East 55.74 feet to a point and (3) South 70-55-14 East 78.12 feet to a point; thence South 16-44- 32 West 49.53 feet to a point; thence South 11-29-25 East 22.22 feet to a point; thence South 50- 31-59 East 31.32 feet to a point; thence South 71-49-07 East 19.10 feet to a point; thence South 14-53-47 West 111.25 feet to a point; thence South 72-57-20 East 355.15 feet to a point; thence with the westerly margin of the Common Open Space of BaIlantyne Commons West Parcel A, Map 1 as shown on map recorded in Map Book 34 at Page 857 in the Mecklenburg County Public Registry, the following two (2) courses and distances: (1) South 17-25-19 East 3.32 feet to a point and (2) South 18-13-20 West 84.54 feet to a point in the rear property line of Lot 511 in the aforesaid Ballantyne Country Club Phase 10, Map 10; thence with the rear lot line of Lots 511, 512, 513, 517, 518, 519 and 521, the following six (6) courses and distances: (1) North 72- 39-04 West 451.03 feet to a found #4 rebar, (2) South 82-06-08 West 236.93 feet to a found #4 rebar, (3) North 66-02-18 West 138.50 feet to a found #4 rebat, (4) South 64-39-12 West 157.62- feet to a found #4 rebar, (5) North 87-47-28 West 76.79 feet to a found #4 rebar and (6) North 64-34-42 West 1 13.17 feet to the Point and Place of BEGINNING, and containing 9.328 acres, all as shown on survey entitled "Final Plat of Belle Vista Condominium Phase VI, Building 8", dated May 5, 2006 by Scott L. Hunter of ESP Associates, P.A., to which survey reference is hereby made for a more particular description of the property and which survey is being recorded HTPL: 296878 v in Unit Ownership File No. 674 contemporaneously with the recording of this Supplemental Declaration. h FI PL: 29687K vl EXHIBIT B TO SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE VI UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03101 B .4167% 03102 A .3906% 03103 B .4167% 03104 C .4297% 03105 C .4297% 03106 B .4167% 03107 A 3906% 03108 B .4167% 03109 C .4297% 03110 C .4297% 03201 B _4167% 03202 A .3906% 03203 B .4167% 03204 C .4297% 03205 C .4297% 03206 B .4167% HTPL: 296878 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03207 A .3906% 03208 B .4167% 03209 C .4297% 03210 C .4297% 03301 B .4167% 03302 A .3906% 03303 B .4167% 03304 C .4297% 03305 C .4297% 03306 B .4167% 03307 A .3906% 03308 B .4167% 03309 C .4297% 03310 C .4297% 03401 B .4167% 03402 A 3906% 03403 B .4167% 03404 C .4297% I ITPL: 296878 v UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03405 C .4297% 03406 B .4167% 03407 A .3906% 03408 B .4167% 03409 C ' .4297% 03410 C .4297% 04101 B .4167% 04102 A 04103 B 04104 C 04105 C 04106 B 04107 A 04108 B 04109 C 04110 C 04201 B 04202 A HTPL: 296878 vl .3906% .4167% .4297% .4297% .4167% _3906% .4167% .4297% • .4297% .4167% .3906% UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 04203 B .4167% 04204 C .4297% 04205 C .4297% 04206 B .4167% 04207 A .3906% 04208 B .4167% 04209 C .4297% 04210 C .4297% 04301 B .4167% 04302 A .3906% 04303 B - .4167% 04304 C .4297% 04305 C .4297% 04306 B .4167% 04307 A .3906% 04308 B .4167% 04309 C .4297% 04310 C .4297% M"TPI.: 296878 v UNIT NUMBER UNIT TYPE 04401 B 04402 A 04403 B 04404 C 04405 C 04406 B 04407 A 04408 B 04409 C 04410 C 05101 B 05102 A 05103 B 05104 C 05105 C 05106 05107 A 05108 B PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .4167% .3906% .4167% .4297% .4297% .4167% .3906% .4167% .4297% _4297% .4167% .3906% .4167% .4297% .4297% _4167% .3906% _4167% HTPL: 296878 vi UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 05109 C .4297% O5110 C .4297% 05201 B .4167% 05202 A .3906% 05203 B .4167% 05204 C .4297% 05205 C .4297% 05206 B .4167% 05207 A .3906% 05208 B .4167% 05209 C .4297% 05210 C .4297% 05301 B .4167% 05302 A .3906% 05303 B .4167% 05304 C .4297% 05305 C .4297% 05306 B .4167% HTPL: 296878 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 05307 A .3906% 05308 B .4167% 05309 C .4297% 05310 C .4297% 05401 B .4167% 05402 A .3906% 05403 B .4167% 05404 C .4297% 05405 C .4297% 05406 B .4167% 05407 A .3906% 05408 B .4167% 05409 C .4297% 05410 C .4297% 06101 B .4167% 06102 A 3906% 06103 B .4167% 06104 C .4297% NTPL: 296878 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 06105 C .4297% 06106 B .4167% 06107 A .3906% 06108 B .4167% 06109 C .4297% 06110 C .4297% 06201 B .4167% 06202 A .3906% 06203 B .4167% 06204 C .4297% 06205 C .4297% 06206 B .4167% 06207 A .3906% 06208 B .4167% 06209 C .4297% 06210 C .4297% 06301 B .4167% 06302 A .3906% HTPL: 296878 v1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 06303 B .4167% 06304 C 4297% 06305 C .4297% 06306 B .4167% 06307 A .3906% 06308 B .4167% 06309 C .4297% 06310 C .4297% 06401 B .4167% 06402 A .3906% 06403 B .4167% 06404 C .4297% 06405 C .4297% 06406 B .4167% 06407 A .3906% 06408 B .4167% 06409 C .4297% 06410 C .4297% I ITPL: 296878 v UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07101 B .4166% 07102 A .3906% 07103 B .4166% 07104 C .4297% 07105 C .4297% 07106 B .4166% 07107 A .3906% 07108 B .4166% 07109 C .4297% 07110 C .4297% 07201 B .4166% 07202 A .3906% 07203 B .4166% 07204 C .4297% 07205 C .4297% 07206 B .4166% 07207 A .3906% 07208 B .4166% HTPL: 296878 v i UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07209 C .4297% 07210 C .4297% 07301 B .4166% 07302 A .3906% 07303 B .4166% 07304 • C .4297% 07305 C .4297% 07306 B .4166% 07307 A .3906% 07308 B A166% 07309 C .4297% 07310 .0 .4297% 07401 B .4166% 07402 A .3906% 07403 B .4166% 07404 C .4297% 07405 C .4297% 07406 B .4166% 1ITPL:296878 v1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07407 A .3906% 07408 B .4166% 07409 C .4297% 07410 C .4297% 08101 B .4166% 08102 A .3906% 08103 $ .4166% 08104 C .4297% 08105 C .4297% 08106 B .4166% 08107 A 3906% 08108 B .4166% 08109 C .4297% 08110 C .4297% 08201 B .4166% 08202 A .3906% 08203 B .4166% 08204 C .4297% FfrPL: 296878 v l UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 08205 C .4297% 08206 B .4166% 08207 A .3906% 08208 B .4166% 08209 C .4297% 08210 C .4297% 08301 B .4166% 08302 A .3906% 08303 B .4166% 08304 C .4297% 08305 C .4297% 08306 B .4166% 08307 A .3906% 08308 B .4166% 08309 C .4297% 08310 C .4297% 0840I B .4166% 08402 A .3906% FiTPI.: 296878 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 08403 B .4166% 08404 C .4297% 08405 C .4297% 08406 B .4166% 08407 A .3906% 08408 B .4166% 08409 C .4297% 08410 C .4297% 100% HTPL: 296878 v1 JUDITH A. GIBSON REGISTER OF DEEDS, MECKLENBURG COUNTY & COURTS OFFICE BUILDING 720 EAST FOURTH STREET CHARLOTTE, NC 28202 PLEASE RETAIN YELLOW TRAILER PAGE It is part of the recorded document, and must be submitted with original for re-recording and/or cancellation. f ** Filed For Registration: 08/25/2006 03:47 PM Book: RE 20958 Page: 554-573 Document No.: 2006176092 DEC/U 20 PGS $68.00 Recorder: LYVANH PHETSARATH 1111111 iiiii iiiii ilia iiiii iiiii mil iiiii iiiii iiiii iiii iiii 2006176092 FOR REGISTRRTION JUOITH A. GIBSON REGISTER OF DEEDS MECKLENBURG COUNTY, NC 2003 OCT 13'03:01 P!7 BK:16271 PG:077-893 FEE:$59.00 INSTRUMENT N 2003240 72 illhlllfl1J1Ii STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG i u A Ell I DEED OF CONVEYANCE AND DECLARATION OF EASEMENTS Drawn By: Charles E. Murphy, Jr., Esq. Powell, Goldstein, Frazer & Murphy LLP 191 Peachtree Street, NE Sixteenth Floor . Atlanta, Georgia 30303-1736 Mail After Recording To: H. David Powell, Esq. Horack Talley Pharr & Lowndes, P.A. (RD Box #194) 301 South College Street, Ste. 2600 Charlotte, North Carolina 28202-6038 � Ia FYI STATE OF NORTH CAROLINA COUNTY OF MECI .LEN:BURG FOR REGISTRATION JUDIT"tt A, GIBSON REGISTER OF DEEDS MECKLENBURG COUNTY,, NC 2006 MAT 10 03:54 PM BK;20413 PG.B00-8145 FEE:S69. INSTRUMENT M 2006091101 11 2006091i81. SUPPLEMENTAL DECLARATION OF BELL 1 VISTA CO'NIIOMINIUM PHASE V THIS SUPPLEMENTAL DECLARATION and Exhibits which are a hereto and made a part hereof are made and executed as of the /Q / day of 2006 by PULTE HOME CORPORATION, a Michigan corporation (the "Declarant itself, its successors and assigns, pursuant to the provisions of Chapter 47C of the North Carolina General Statutes entitled the "North Carolina Condominium Act" (the "Act") and Article III of the Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 in the Mecklenburg County Public Registry. WITNESSETH: WHEREAS, the Declarant created Belle Vista Condominium Phase IA by Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 as amended by First Amendment to Declaration of Belle Vista. Condominium recorded in Book 17225 at Page 710, Second Amendment to Declaration of Belle Vista Condominium and Supplemental Declaration of Belle Vista Condominium Phase II recorded in Book 17225 at Page 730, Supplemental Declaration of Belle Vista Condominium Phase III recorded in Book 19159 at Page 500 and. Supplemental Declaration of Belle Vista Condominium Phase IV recorded in Book 19850 at Page 217 in the Mecklenburg County Public Registry (collectively referred to herein as the 'Declaration"); and WHEREAS, the Declaration provides in Article part of the Additional Property described on Exhibit A 1 Condominium pursuant to Section 47C-2-1 10 of the Act; DRAWN BY AND MAIL TO: H. David Powell, Esq. (RD Box # 194) Horack Talley Pharr & Lowndes, P.A. 2600 One Wachovia Center 301 South College Street, Suite 2600 Charlotte, NC 28202-6038 II that Declarant can add all or - of the Declaration to the and ITN,: 285623 vI WHEREAS, the property described on Exhibit A attached hereto and incorporated herein by reference (the "Phase V Property") comprises a portion of the property described as Additional Property on Exhibit A-1 in the Declaration; and WHEREAS, Declarant desires to submit the Phase V Property to the provisions of the Act as Phase V of the Belle Vista Condominium and has constructed one (1) building on the Phase V Property and desires to divide the Phase V Property into forty (40) Condominium Units and designate all such Units for separate ownership as part of Belle Vista Condominium and subject to the Declaration. NOW, THEREFORE, the Declarant hereby agrees and declares as follows: 1. The Declarant does hereby submit the Phase V Property and ail improvements located thereon to the provisions of Chapter 47C of the North Carolina General Statutes as Phase V of Belle Vista Condominium, and does hereby divide the Phase V Property into forty (40) Condominium Units, each designated for separate ownership and does hereby publish and declare that all of the Phase V Property and the forty (40) Condominium Units created thereon, are subject and shall be held, conveyed, hypothecated, encumbered, used and occupied, subject to the covenants, conditions, restrictions, uses, Iimitations and obligations of the Declaration which is incorporated herein by reference, which shall be deemed to run with the land and shall be a burden and benefit to the Declarant, its successors and assigns, and any persons acquiring any interest in the Phase V Property and the forty (40) Condominium Units created thereon, their grantees, successors, heirs, executors, administrators, designees and assigns. 2. The Units created hereby are Units 07101 thru 07110, inclusive; Units 07201 thru 07210, inclusive; Units 07301 thru 07310, inclusive; and Units 07401 thru 07410, inclusive, and are more particularly described as shown on the plans and survey for Belle Vista Condominium Phase V recorded in Unit Ownership File No. 674 in the Office of the Register of Deeds for Mecklenburg County, North Carolina simultaneously with the recording of this Supplemental Declaration and which plans and survey are incorporated herein by reference. 3. The Exhibit D to the Declaration setting forth the Percentage of the Undivided Interest in Common Elements and Common Expenses for the Units shall be deleted and replaced with the Exhibit B attached hereto and incorporated herein by reference, which describes all of the Units in Belle Vista Condominium, including the Units created out of the Phase V Property and the Percentage of Undivided Interest in Common Elements and Common Expenses for all Units in Belle Vista Condominium. 4. All capitalized terms herein shall have the same meanings and definitions as set forth in the Declaration. HTPL: 285623 vl IN WITNESS WHEREOF, Declarant has caused this Supplemental Declaration to be executed as of the day and year first above written. PULTE HOME CORPORATION, a Michigan corporation By: s_ Jon S. Hardy, Attorney-i f i-Fact STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG I, X2.7flo ' A) , a Notary Public for said County and State, do hereby certify that Jon . Hardy, Attorney -in -Fact for Pulte Home Corporation, a Michigan corporation, personally known to me, personally appeared before me this day and being by me duly sworn, acknowledged that he voluntarily executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in Book 18160 at Page 354, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Jon S. Hardy acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. WITNESS my hand and official seal this MI- day of C��l , 2006. My Commission Expires: Ala Ro6A) Notary Public Print Name: Thth 1 1 c�% f � pr HIM: 285623 v 1 EXHIBIT A Legal Description of Phase V Property Lying and being in the City of Charlotte, Mecklenburg County, North Carolina and being more particularly described as follows: BEGINNING at a Set Concrete Monument "Control Corner" with NC Grid Coordinates (NAD 83) of N = 479,142.980 and E = 1,444,730.637, said Set Concrete Monument "Control Comer" being located North 15-12-48 East 5,098.43 feet (grid) and 5,099.18 feet (ground) from NCGS Monument "Lowery" with NC Grid Coordinates (NAD 83) of N = 474,223.218 and E = 1,443,392.746, said Set Concrete Monument "Control Corner" also marking the southerly corner of Belle Vista Condominium Phase III as shown in Unit Ownership File No. 674 at Page 17 in the Mecklenburg County Public Registry, and running thence from said Beginning Point with the southeasterly line of the aforesaid Belle Visa Condominium Phase III North 28-18-53 East 168.43 feet to a set "MAG" nail located in the southerly line of Belle Vista Condominium Phase IA as shown in Unit Ownership File No. 674 at Page 1; thence with the southerly line of the aforesaid Belle Vista Condominium Phase IA the following five (5) courses and distances: (1) with the arc of a circular curve to the left having a radius of 231.50 feet, a chord bearing and distance of South 81-40-31 East 91.08 feet and an arc distance of 91.68 feet to a point, (2) North 86-30-21 East 41.52 feet to a point, (3) North 86-07-17 East 45.34 feet to a point, (4) South 83- 58-45 East 63.32 feet to a point and (5) South 70-39-50 East 63.37 feet to a point marking the westerly corner of Belle Vista Condominium Phase IV as shown in Unit Ownership File No. 674 at Page 25 in the Mecklenburg County Public Registry; thence with the southerly line of the aforesaid Belle Vista Condominium Phase IV the following three (3) courses and distances: (1) South 65-03-25 East 75.88 feet to a point, (2) South 70-24-04 East 77.97 feet to a point and (3) South 65-30-14 East 145.34 feet to a point; thence South 67-26-47 West 266.55 feet to a point; thence North 52-38-13 West 26.26 feet to a point; thence North 70-04-30 West 82.20 feet to a point; thence North 82-05-25 West 215.30 feet to a point; thence North 70-33-55 West 102.22 feet to the Point and Place of BEGINNING and containing 2.190 acres, all as shown on survey entitled "Final Plat of Belle Vista Condominium Phase V (Building 7)" dated May 8, 2006 by Scott L. Hunter of ESP Associates, P.A. to which survey reference is hereby made for a more particular description of the property. HTPL: 285623 vi EXHIBIT B TO SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE V UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03101 B .5000% 03102 A -.4688% 03103 B .5000% 03104 C .5156% 03105 C .5156% 03106 B .5000% 03107 A .4688% 03108 B .5000% 03109 C .5156% 03110 C .5156% 03201 B .5000% 03202 A .4688% 03203 B .5000% 03204 C .5156% 03205 C .5156% 03206 B .5000% HTPL: 285623 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03207 A .4688% 03208 B .5000% 03209 C .5156% 03210 C .5156% 03301 B .5000% 03302 A .4688% 03303 B .5000% 03344 C .5156% 03305 C .5156% .03306 B .5000% 03347 A .4688% 03308 B .5000% 03309 C .5156% 03310 C .5156% 03401 B .5000% 03402 A .4688% 03403 B .5000% 03404 C .5156% I-ITPL: 285623 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03405 C .5156% 03406 B .5000% 03407 A .4688% 03408 B .5000% 03409 C .5156% 03410 C .5156% 04101 B .5000% 04102 04103 B 04104 C 04105 C 04106 B 04107 A 04108 B 04109 C 04110 C 04201 B 04202 A HTPL: 285623 vl .4688% .5000% .5156% .5156% .5000% .4688% .5000% .5156% .5156% .5000% .4688% UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 04203 B .5000% 04204 C .5156% 04205 C .5156% 04206 B .5000% 04207 A .4688% 04208 B .5000% 04209 C .5156% 04210 C .5156% 04301 B .5000% 04302 A _4688% 04303 B .5000% 04304 C .5156% 04305 C .5156% 04306 B .5000% 04307 A .4688% 04308 B .5000% 04309 C .5156% 04310 C .5156% HTPL: 285623 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 04401 B .5000% 04402 A .4688% 04403 B .5000% 04404 C .5156% 04405 C .5156% 04406 B .5000% 04407 A .4688% 04408 B .5000% 04409 C .5156% 04410 C _5156% 05101 B .5000% 05102 A .4688% 05103 B .5000% 05104 C .5156% 05105 C .5156% 05106 B .5000% 05107 A .4688% 05108 B .5000% HTPL: 285623 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 05109 C .5156% 05110 C .5156% 05201 B .5000% 05202 A .4688% 05203 B .5000% 05204 C .5156% 05205 C .5156% 05206 B .5000% 05207 A .4688% 05208 B .5000% 05209 C .5156% 05210 C .5156% 05301 B .5000% 05302 A .4688% 05303 B .5000% 05304 C .5156% 05305 C .5156% 05306 B .5000% HTPL: 285623 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 05307 A .4688% 05308 B _5000% 05309 C - .5156% 05310 C .5156% 05401 B .5000% 05402 A .4688% 05403 B .5000% 05404 C .5156% 05405 C .5156% 05406 B .5000% 05407 A .4688% 05408 B .5000% 05409 C .5156% 05410 C 5156% 06101 B .5000% 06102 A .4688% 06103 B .5000% 06104 C .5156% HTPL: 285623 v1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 06105 C .5156% 06106 B .5000% 06107 A .4688% 06108 B .5000% 06109 C .5156% 061I0 C .5156% 06201 B .5000% 06202 A .4688% 06203 B .5000% 06204 C .5156% 06205 C .5156% 06206 B .5000% 06207 A .4688% 06208 B .5000% 06209 C .5156% 06210 C .5156% 06301 B .5000% 06302 A .4688% HTPL: 285623 r'I UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 06303 B .5000% 06304 C .5156% 06305 C .5156% 06306 B .5000% 06307 A .4688% 06308 B .5000% 06309 C .5156% 06310 C .5156% 06401 B .5000% 06402 A .4688% 06403 B .5000% 06404 C .5156% 06405 C .5156% 06406 B .5000% 06407 A .4688% 06408 B .5000% 06409 C .5156% 06410 C 5156% HTPL:285623 v UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07101 B .5000% 07102 A .4688% 07103 B .5000% 07104 C .5156% ' 07105 C .5156% 07106 B .5000% 07107' A .4688% 07108 B -.5000% 07109 C .5156% 07110 C .5156% 07201 B .5000% 07202 A .4688% 07203 B .5000% 07204 C .5156% 07205 C _5156% 07206 B .5000% 07207 A .4688% 07208 B .5000% HTPL: 285623 v1 UNIT NUMBER UNIT TYPE 07209 C .5156% 07210 C .5156% 07301 B .5000% 07302 A .4688% 07303 B .5000% 07304 C .5156% 07305 C .5156% 07306 B .5000% 07307 A .4688% 07308 B .5000% 07309 C .5156% 07310 C .5156% 07401 B .5000% 07402 A 4688% 07403 B .5000% 07404 C 5156% 07405 C 5156% 07406 B .5000% PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES HTPL: 285623 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07407 A .4688% 07408 B .5000% 07409 C .5156% 07410 C .5156% 10_024 HTPL; 285623 vl JUDITH A. GIBSON REGISTER OF DEEDS, MECKLENBURG COUNTY & COURTS OFFICE BUILDING 720 EAST FOURTH STREET CHARLOTTE, NC 28202 PLEASE RETAIN YELLOW TRAILER PAGE It is part of the recorded document, and must be submitted with original for re-recording and/or cancellation. *** „************************ Filed For Registration: 05/1012006 03:54 PM Book: RE 20413 Page: 800-816 Document No.: 2006091181 DECIU 17 PGS $59.00 Recorder: KAMIL COOPER 1111111111111111111111111111111111111111111111111111111111111 2006091181 ******************* STATE F NORCAROLINA COUNTY OF MECKLENBURG FILECOPY F1tED FOR REO1; AT(9N DATE '1/(3 L 01 ROOK I.Lej,ie.. STAMPS ;PQC. Jt- SUPPLEMENTAL 'DECLARATION OF BELLE VISTA CONDOMINIUM PHASE VIII THIS SUPPLEMENTAL DECLARATION and Exhibitswhich are attached hereto and made a part hereof are made and executed as of the j +h day of ; ani'! 2007 by PULTE HOME CORPORATION, a Michigan corporation (the "Declarant"), for itself, its successors and assigns, pursuant to the provisions of Chapter 47C of the North Carolina General Statutes entitled the "North Carolina Condominium Act" (the "Act") and Article III of the Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 in the Mecklenburg County Public Registry. WI" ESSETH: WHEREAS, the Declarant created Belle Vista Condominium Phase IA by Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 as amended by First Amendment to Declaration of Belle Vista Condominium recorded in. Book 17225 at Page 71.0, Second Amendment to Declaration of Belle Vista Condominium and Supplemental Declaration of Belle Vista Condominium Phase II recorded in Book 17225 at Page 730, Supplemental Declaration of Belle Vista Condominium Phase III recorded in Book 19159 at Page 500, Supplemental Declaration of Belle Vista. Condominium Phase IV recorded in Book 19850 at Page 217 in the Mecklenburg County Public Registry, Supplemental Declaration of Belle Vista Condominium Phase V recorded in Book 20413 at Page 800, Supplemental Declaration of Belle Vista CondominiumPhase VI recorded in Book 2.0958 at. Page 554 in the Mecklenburg County Public Registry, and Supplemental Declaration of Belle Vista Condominium Phase VII recorded in Book 21259 at Page 21 in the Mecklenburg. County Public Registry (collectively referred to herein as the "Declaration"); and DRAWN BY AND MAIL TO 11. David Powell, Esq. (R[) Box 0194) Iitarack Talley Pharr Lowndes, h.A. 2600 One Wachovia Center 301 South College Street, Suite 2600 Charlotte, NC 28202-6038 Itrpt 3i5979vW WHEREAS, the Declaration provides in Article III that Declarant can add all or part of the Additional Property described on Exhibit A-1 of the Declaration to the Condominium pursuant to Section 47C-2-110 of the Act; and WHEREAS, the property described on Exhibit A attached hereto and incorporated herein by reference (the "Phase VIII Property") comprises a portion of the property described as Additional Property on Exhibit A- I in the Declaration; and WHEREAS, Declarant desires to submit the Phase VIII Property to the provisions of the Act as Phase VIII of the Belk Vista Condominium and has constructed one (1) building on the Phase VIII Property and desires to divide the Phase VIII Property into forty (40) Condominium Units and designate aII such Units for separate ownership as part of Belle Vista Condominium and subject to the Declaration. NOW, THEREFORE, the Declarant hereby agrees and declares as follows: 1. The Declarant does hereby submit the Phase VIII Property and all improvements located thereon to the provisions of Chapter 47C of the North Carolina General Statutes as Phase VIII of Belle Vista Condominium, and does hereby divide the Phase VIII Property into forty (40) Condominium Units, each designated for separate ownership and does hereby publish and declare that aII of the Phase VIII Property and the forty (40) Condominium Units created thereon, are subject and shall be held, conveyed, hypothecated, encumbered, used and occupied, subject to the covenants, conditions, restrictions, uses, limitations and obligations of the Declaration which is incorporated herein by reference, which shall be deemed to run with the land and shaII be a burden and benefit to the Declarant, its successors and assigns, and any persons acquiring any interest in the Phase VIII Property and the forty (40) Condominium Units created thereon, their grantees, successors, heirs, executors, administrators, designees and assigns. 2. The Units created hereby are Units 01101 thru 0I110, inclusive; Units 01201 thru 01210, inclusive; Units 01301 thru 01310, inclusive; and Units 01401 thru 01410, inclusive, and are more particularly described as shown on the plans and survey for Belle Vista Condominium Phase VIII recorded in Unit Ownership File No. 674 in the Office of the Register of Deeds for Mecklenburg County, North Carolina simultaneously with the recording of this Supplemental Declaration and which plans and survey are incorporated herein by reference. 3. The Exhibit D to the Declaration setting forth the Percentage of the Undivided interest in Common Elements and Common Expenses for the Units shall be deleted and replaced with the Exhibit B attached hereto and incorporated herein by reference, which describes all of the Units in Belle Vista Condominium, including the Units created out of the Phase VIII Property and the Percentage of Undivided Interest in Common Elements and Common Expenses for all Units in Belle Vista Condominium. rITl'r.: 315979 vl 4. All capitalized terms herein shall have the same meanings and definitions as set forth in the Declaration. IN WITNESS WHEREOF, Declarant, has caused this Supplemental Declaration to be executed as of the day and year first above written. PULTE HOME CORPORATION, a Michigan corporation By: -�f c-.� s . I -IC L-[� Jon S. Hardy, Attorney-1 i -Fact STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG 1, , a Notary Public for said County and State, do hereby certify that Jon S. Hardy, Attorney -in -Fact for Pulte Home Corporation, a Michigan corporation, personally known to me, personally appeared before me this day and being by me duly sworn, acknowledged that he voluntarily executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in .Book 21939 at Page 711, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Jon S. Hardy acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. WITNESS my hand and official seal this /c21' day of ./ , 2007 t/ ,t2 My CommissiopjFra�rr�es:I r 093,�0D9 Notary Public �o Fohr '., IJ P�:......,4-Fq'.,� Print Name: OvaQ. L cdie(% :a RV .,''.,;y8LIRG �.�0� �, +•1111111f1111 Mil,: 315979 vl EXHIBIT A Legal Description of Phase VIII Property Lying and being in the City of Charlotte, Mecklenburg County, North Carolina, and being more particularly described as follows: BEGINNING at a #4 rebar in the southwesterly margin of the 80 foot private access road, John J. Delaney Drive marking the eastern corner of Belle Vista Condominium Phase VII described in Unit Ownership File No. 674 at Page 49 in the Mecklenburg County Public Registry, said Beginning Point also being located from PSCM "CONTROL CORNER" with NC Grid Coordinates (NAD 83) of N = 479,243.332 and E = 1,445,806.639 with the arc of a circular curve to the right having a radius of 209.49 feet, a chord bearing and distance of South 70-03-02 East 19.01 feet and an arc distance of 19.02 feet to the Beginning Point, and running thence from said Beginning Point with the aforesaid southwesterly margin of the right of way of John J. Delaney Drive, with the arc of a circular curve to the right having a radius of 209.49 feet, a chord bearing and distance of South 43-30-01 East 170.08 feet and an arc distance of 175.13 feet to a #4 rebar; thence with a circular curve to the right, having a radius of 16.00 feet, a chord bearing and distance of South 17-57-51 West 19.49 feet and an arc distance of 20.95 feet to a #4 rebar; thence with the arc of a circular curve to the left having a radius of 170.50 feet, a chord bearing and distance of South 31-37-41 West 137.89 feet and an arc distance of 141.95 feet to a #4 rebar; thence South 07-46-36 West 47.10 feet to a #4 rebar in the northerly margin of the right of way of Via Sorrento Drive; thence with the northerly margin of the right of way of Via Sorrento Drive, the following three (3) courses and distances: (1) with the arc of a circular curve to the right having a radius of 16.00 feet, a chord bearing and distance of South 48-49-59 West 21.02 feet and an arc distance of 22.93 feet to a #4 rebar, (2) with the arc of a circular curve to the left having a radius of 371.50 feet, a chord bearing and distance of North 88-31-58 West 20.46 feet and an arc distance of 20.46 feet to a #4 rebar and (3) with the arc of a circular curve to the left having a radius of 56.50 feet, a chord bearing and distanced of South 79-39-32 West 26.16 feet and an arc distance of 26.40 feet to a #4 rebar in the easterly property line of the aforesaid Belle Vista Condominium Phase VII; thence with the easterly property lines of the aforesaid Belle Vista Condominium Phase VII, the following five (5) courses and distances: (1) North 32-10-51 East 26.90 feet to a #4 rebar, (2) North 28-11-17 West 35.47 feet to a #4 rebar, (3) North 48-20- 28 West 35.78 feet to a #4 rebar, (4) North 60-08-01 West 53.10 feet to a #4 rebar and (5) North 25-30-28 East 243.46 feet to the Point and PIace of BEGINNING, and containing 0.846 acre, all as shown on survey, entitled "Final Plat of Belle Vista Condominium Phase VII Building 1", dated January 4, 2007, by Scott L. Hunter of ESP Associates, P.A., to which survey reference is hereby made for a more particular description of the property, and which survey is being recorded in Unit Ownership File No. 674 contemporaneously with the recording of this Supplemental Declaration. !ITN.: 315979 v l EXHIBIT B TO SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM. PHASE VIII UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 0I101 B .3125% 01102 A .2929% 01103 B .3125% 01104 C .3223% 01105 C .3223% 01106 B .3125% 01107 A .2929% ' 01108 B .3125% 01109 C .3223% 01110 C .3223% 01201 B .3125% 01202 A .2929% 01203 B .3125% 0I204 C .3223% 01205 C .3223% 01206 B .3125% IITPL: 315979 vl UNIT NUMBER UNIT TYPE . 01207 01208 01209 01210 01301 01302 01303 01304 01305 0I306 01307 01308 01309 01310 01401 01402 01403 01404 A B C C B A B C C B A B C C B A B C PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% 1I1'I1.. 315979 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 01405 C .3223% 01406 B .3125% 01407 A .2929% 01408 B .3125% 01409 C .3223% 01410 C .3223% 02101 B .3125% 02102 A .2929% 02103 B .3125% 02104 C .3223% 02105 C .3223% 02106 B .3125% 02107 A .2929% 02108 B .3125% 02109 C .3223% 02110 C .3223% 02201 B .3125% 02202 A .2929% IrrI L: 315979 vE UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 02203 B .3125% 02204 C .3223% 02205 C .3223% 02206 B .3125% 02207 A .2929% 02208 B .3125% 02209 C .3223% 02210 C .3223% 02301 B .3125% 02302 A .2929% 02303 B .3125% 02304 C .3223% 02305 C .3223% 02306 B .3125% 02307 A .2929% 02308 B .3125% 02309 C .3223% 02310 C .3223% !ITN.: 315979 v1 UNIT NUMBER UNIT TYPE 02401 B .3125% 02402 A .2929% PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 02403 B _3125% 02404 C .3223% 02405 C .3223% 02406 B 3125% 02407 A .2929% 02408 B 3125% 02409 C .3223% 02410 C .3223% 03101 B .3125% 03102 A .2929% 03103 B .3125% 03104 C .3223% 03105 C .3223% 03106 B .3125% 03107 A .2929% 03108 13 .3125% 03109 C .3223% 1-1TTPI.: 315979 v 1 UNIT NUMBER UNIT TYPE 03110 C 03201 B 03202 A 03203 B 03204 C 03205 C 03206 B 03207 A 03208 B 03209 C 03210 C 0330I B 03302 A 03303 B 03304 C 03305 C 03306 B 03307 A 1 FI I I.: 315979 v l PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% '.3223% .3223% .3125% .2929% UNIT NUMBER UNIT TYPE 03308 B 03309 C 03310 C 03401 B 03402 A 03403 B 03404 C 03405 C 03406 B 03407 A 03408 B 03409 C 03410 C 04101 B 04IO2 A 04103 B 04104 C 04I05 C II'I1'I. 315974 vI PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3I25% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% UNIT NUMBER UNIT TYPE 04106 04107 04108 04109 04110 04201 04202 04203 04204 04205 04206 04207 04208 04209 04210 04301 04302 04303 I ITI'I.: 315979 vl B A B C C B A B C C B A B C C B A B PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% UNIT NUMBER UNIT TYPE 04304 C 04305 C 04306 B 04307 A 04308 B 04309 C 04310 C 04401 B 04402 A 04403 B 04404 C 04405 C 04406 B 04407 A 04408 B 04409 C 04410 C 05101 B MM.: 315979 v l PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% - .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% UNIT NUMBER UNIT TYPE 05102 05103 05104 05105 05106 05107 05108 05109 05110 05201 05202 05203 05204 05205 05206 05207 05208 05209 I fll'I.: 315979 vl A B C C B A B C C B A B C C B A B C PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% UNIT NUMBER UNIT TYPE 05210 C 05301 B 05302 A 05303 B 05304 C 05305 C 05306 B 05307 A 05308 B 05309 C 05310 C 05401 B 05402 A 05403 B 05404 C 05405 C 05406 B 05407 A 11'1'PL 315979 v l PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3223% .3125% .2929% .3125% • .3223% .3223% .3125% .2929% .3125% .3223% .3223% . 3125% .2929% . 3125% .3223% . 3223% .3125% .2929% UNIT NUMBER UNIT TYPE 05408 B 05409 C 05410 C 06I01 B 06102 A 06103 B 06104 C 06105 C 06106 B 06107 A 06108 B 06109 C 06110 C 06201 B 06202 A 06203 13 06204 C 06205 - C 11T1'f. 315979 vl PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES .3125% .3223% .3223% .3125% . 2929% .3125% . 3223% .3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% .3223% .3223% UNIT NUMBER UNIT TYPE 06206 B 06207 A 06208 B 06209 C 06210 C 06301 B 06302 A 06303 B 06304 C 06305 C 06306 B 06307 A 06308 B 06309 C 06310 C 06401 B 06402 A 06403 B r r rrr.: 315979 vI PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND. COMMON EXPENSES .3125% .2929% .3125% . 3223% .3223% .3125% .2929% . 3125% .3223% . 3223% .3125% .2929% .3125% .3223% .3223% .3125% .2929% .3125% UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 06404 C .3223% 06405 C .3223% 06406 B .3125% 06407 A .2929% 06408 B .3125% 06409 C .3223% 06410 C .3223% 07101 B .3125% 07102 A .2929% 07103 B .3125% 07104 C .3223% 07105 C .3223% 07106 B .3125% 07107 A .2929% 07108 B .3125% 07109 C .3223% 07110 C .3223% 0720I B .3125% 1 I'I'YI.: 315979 v 1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07202 A .2929% 07203 B .3125% 07204 C .3223% 07205 C .3223% 07206 B .3125% 07207 A .2929% 07208 B .3125% 07209 C .3223% 07210 C .3223% 07301 B .3125% 07302 A .2929% 07303 B .3125% 07304 C .3223% 07305 C .3223% 07306 B .3125% 07307 A .2929% 07308 B .3125% 07309 C .3223% 11T1'1.- 315979 v UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 07310 C .3223% 07401 B .3I25% 07402 A .2929% 07403 B .3125% 07404 •C .3223% 07405 C .3223% 07406 B .3125% 07407 A .2929% 07408 B .3125% 07409 C .3223% 07410 C .3223% 08I01 B .3125% 08102 A .2929% 08103 B .3125% 08104 C .3223% 08105 C .3223% 08106 B .3125% 08107 A .2929% 1 I'I'I'l.: 315979 vl PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS UNIT NUMBER UNIT -TYPE AND COMMON EXPENSES 08108 B .3125% 08109 C .3223% 08110 C .3223% 08201 B .3125% 08202 A .2929% 08203 B .3125% 08204 C .3223% 08205 C .3223% 08206 B .3125% 08207 A .2929% 08208 B .3125% 08209 C .3223% 08210 C .3223% 08301 B .3125% 08302 A .2929% 08303 B .3125% 08304 C .3223% 08305 C .3223% 08306 B .3125% HTPI.: 3I5979 vI PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS UNIT NUMBER UNIT TYPE AND COMMON EXPENSES 08307 A .2929% 08308 B .3125% 08309 C .3223% 08310 C _3223% 08401 B .3125% 08402 A .2929% 08403 B .3125% 08404 C .3223% 08405 C _3223% 08406 B .3125% 08407 A .2929% 08408 B .3125% 08409 C .3223% 08410 C .3223% 100% II'1'19.: 315979 vl STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG FOR REGISTRATION JUDITH A. GIBSON MECKLENBURG COUNTY, NC BK:19B$05PG:217.230 FEE:$50.00 INSTRUMENT A 2006001463 I1IIllIllh//II/llh1/JIII1JJ1IJ/JII/II;JIJI1IIjjijjijjj/;i;2006001463 SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE IV THIS SUPPLEMENTAL DECLARATION and Exhibits which are attached hereto and made a part hereof are made and executed as of thec rol day of January, 2006 by PULTE HOME CORPORATION, a Michigan corporation (the "Declarant"), for itself, its successors and assigns, pursuant to the provisions of Chapter 47C of the North Carolina General Statutes entitled the "North Carolina Condominium Act" (the "Act") and Article III of the Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 in the Mecklenburg County Public Registry. WITNESSETH: WHEREAS, the Declarant created Belle Vista Condominium Phase IA by Declaration of Belle Vista Condominium recorded in Book 16780 at Page 275 as amended by First Amendment to Declaration of Belle Vista Condominium recorded in Book 17225 at Page 710, Second Amendment to Declaration of Belle Vista Condominium and Supplemental Declaration of Belle Vista Condominium Phase II recorded in Book 17225 at Page 730 and Supplemental Declaration of Belle Vista Condominium Phase III recorded in Book 19159 at Page .500 in the Mecklenburg County Public Registry (collectively referred to herein as the "Declaration"); and WHEREAS, the Declaration provides in Article III that Declarant can add all or part of the Additional Property described on Exhibit A-1of .the Declaration to the Condominium pursuant to Section 47C-2-110 of the Act; and DRAWN BY AND MAIL TO: H. David Powell, Esq. (RD Box # 194) Horack Talley Pharr & Lowndes, P.A. 2600 One Wachovia Center 301 South College Street, Suite 2600 Charlotte, NC 28202-6038 HTPL: 271081 v WHEREAS, the property described on Exhibit A attached hereto and incorporated herein by reference (the "Phase IV Property") comprises a portion of the property described as Additional Property on Exhibit A-1 in the Declaration; and WHEREAS, Declarant desires to submit the Phase IV Property to the provisions of the Act as Phase IV of the Belle Vista Condominium and has constructed one (1) building on the Phase IV Property and desires to divide the Phase IV Property into forty (40) Condominium Units and designate all such Units for separate ownership as part of Belle Vista Condominium and subject to the Declaration. NOW, THEREFORE, the Declarant hereby agrees and declares as follows: 1. The Declarant does hereby submit the Phase IV Property and all improvements located thereon to the provisions of Chapter 47C of the North Carolina General Statutes as Phase IV of Belle Vista Condominium, and does hereby divide the Phase IV Property into forty (40) Condominium Units, each designated for separate ownership and does hereby publish and declare that all of the Phase TV Property and the forty (40) Condominium Units created thereon, are subject and shall be held, conveyed, hypothecated, encumbered, used and occupied, subject to the covenants, conditions, restrictions, uses, limitations and obligations of the Declaration which is incorporated herein by reference, which shall be deemed to run with the land and shall be a burden and benefit to the Declarant, its successors and assigns, and any persons acquiring any interest in the Phase IV Property and the forty (40) Condominium Units created thereon, their grantees, successors, heirs, executors, administrators, designees and assigns. 2. The Units created hereby are Units 03101 thru 03110, inclusive; Units 03201 thru 03210, inclusive; Units 03301 thru 03310, inclusive; and Units 03401 thru 03410, inclusive, and are more particularly described as shown on the plans and survey for Belle Vista Condominium Phase IV recorded in Unit Ownership File No. 674 in the Office of the Register of Deeds for Mecklenburg County, North Carolina simultaneously with the recording of this Supplemental Declaration and which plans and survey are incorporated herein by reference. 3. The Exhibit D to the Declaration setting forth the Percentage of the Undivided Interest in Common Elements and Common Expenses for the Units shall be deleted and replaced with the Exhibit B attached hereto and incorporated herein by reference, which describes all of the Units in Belle Vista Condominium, including the Units created out of the Phase IV Property and the Percentage of Undivided Interest in Common Elements and Common Expenses for all Units in Belle Vista Condominium. 4. All capitalized terms herein shall have the same meanings and definitions as set forth in the Declaration. HTPL: 2710131 v I IN WITNESS WHEREOF, Declarant has caused this Supplemental Declaration to be executed as of the day and year first above written. PULTE HOME CORPORATION, a Michigan corporation By: — S Jon S. Hardy, Attorney-in-F STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG , a Notary Public for said County and State, do hereby certify that on S. Hardy, Attorney -in -Fact for Pulte Home Corporation, a Michigan corporation, personally known to me, personally appeared before me this day and being by me duly sworn, acknowledged that he voluntarily executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in Book 18160 at Page 354, and that this instrument was executed under and by virtue of the authority given by said instrument granting himpower of attorney; that the said Jon S. Hardy acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation_ WITNESS my hand and official seal this 3rd day of t,1 , 2006. My Commission Expires: "/-02,o9009 Print Name: na (v04/12 Notary Public a►la) Fju?%r 1ITPL:271081 vI EXHIBIT A Legal Description of Phase IV Property Lying and being in the City of Charlotte, Mecklenburg County, North Carolina and being more particularly described as follows: BEGINNING at a PSCM "Control Comer" in the southwesterly margin of the right of way of John J. Delaney Drive with NC Grid Coordinates (NAD 83) of N = 479,338.569 and E = 1,445,501.783, and running thence from said Beginning Point with the southwesterly margin of the right of way of John J. Delaney Drive South 72-39-04 East 103.79 feet to a point; thence with new lines the following seven (7) courses and distances: (1) South 18-41-16 West 221.86 feet to a point, (2) North 70-55-14 West 78.12 feet to a point, (3) South 62-06-49 West 55.74 feet to a point, (4) North 28-36-12 West 46.32 feet to a point, (5) North 65-30-14 West 145.34 feet to a point, (6) North 70-24-04 West 77.97 feet to a point and (7) North 65-03-25 West 75.88 feet to a set #4 rebar in the easterly margin of the right of way of Costigan Drive with NC Grid Coordinates (NAD 83) of N = 479,256.023 and E — 1,445,110.043; thence with the easterly margin of Costigan Drive, North 21-11-03 East 82.47 feet to a point in the southerly property line of Recreational Property shown on map recorded in Map Book 40 at Page 585 in the Mecklenburg County Public Registry; thence with the southerly margin and the easterly margin of the aforesaid Recreational Property the following four (4) courses and distances: (1) South 69- 29-11 East 203.45 feet to a point, (2) North 25-20-12 East 123.76 feet to a point, (3) with the arc of a circular curve to the right having a radius of 29.00 feet, a chord bearing and distance of North 35-05-21 East 9.82 feet and an arc distance of 9.87 feet to a point and (4) North 44-50-30 East 17.29 feet to a point in the southwesterly margin of the right of way of John J. Delaney Drive; thence with the southwesterly margin of the aforesaid right of way of John J. Delaney Drive with the arc of a circular curve to the left having a radius of 290.51 feet, a chord bearing and distance of South 61-15-24 East 114.79 feet and an arc distance of 115.55 feet to the Point and PIace of BEGINNING and containing 1.671 acres, all as shown on survey entitled "Final Plat of Belle Vista Condominium Phase IV" dated September I6, 2005 by Scott L. Hunter of ESP Associates, P.A., to which survey reference is hereby made for a more particular description of the property. IiTPL:271081 vl EXHIBIT B TO SUPPLEMENTAL DECLARATION OF BELLE VISTA CONDOMINIUM PHASE III UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03101 B .6250% 03102 A .5860% 03103 B .6250% 03104 C .6445% 03105 C .6445% 03106 B .6250% 03107 A .5860% 03108 B .6250% 03109 C .6445% 03110 C .6445% 03201 B .6250% 03202 A .5860% 03203 B .6250% 03204 C .6445% 03205 C :6445% 03206 B .6250% HTP1.:271081 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03207 A .5860% 03208 B .6250% 03209 C .6445% 03210 C .6445% 03301 B .6250% 03302 A .5860% 03303 B .6250% 03304 C .6445% 03305 C .6445% 03306 B .6250% 03307 A _5860% 03308 B .6250% 03309 C .6445% 03310 C .6445% 03401 B .6250% 03402 A .5860% 03403 B .6250% 03404 C .6445% HTPL: 27108 I v I UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 03405 C .6445% 03406 B .6250% 03407 A .5860% 03408 B .6250% 03409 C .6445% 03410 C .6445% 04101 B .6250% 04102 A 04103 B 04104 C 04105 C 04106 B 04107 A 04108 B 04109 C 04110 C 04201 B 04202 A 11TPL:271081 vl .5860% .6250% .6445% .6445% .6250% .5860% .6250% . 6445% . 6445% .6250% .5860% UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 04203 B .6250% 04204 C .6445% 04205 C .6445% 04206 B .6250% 04207 A .5860% 04208 B .6250% 04209 C .6445% 04210 C .6445% 04301 B .6250% 04302 A .5860% 04303 B .6250% 04304 C .6445% 04305 C .6445% 04306 B .6250% 04307 A .5860% 04308 B .6250% 04309 C .6445% 04310 C .6445% HTPL: 27108I v1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 04401 B .6250% 04402 A .5860% 04403 B .6250% 04404 C .6445% 04405 C .6445% 04406 B .6250% 04407 A .5860% 04408 - B .6250% 04409 C .6445% 04410 C 6445% 05101 B .6250% 05102 A .5860% 05103 B .6250% 05104 C .6445% 05105 C .6445% 05106 B .6250% 05107 A .5860% 05108 B .6250% 1-1TPL:271081 v1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 05109 C .6445% 05110 C .6445% 05201 B .6250% 05202 A .5860% 05203 B .6250% 05204 C .6445% 05205 C .6445% 05206 B .6250% 05207 A .5860% 05208 B .6250% 05209 C .6445% 05210 C .6445% 05301 B _6250% 05302 A .5860% 05303 B .6250% 05304 C .6445% 05305 C .6445% 05306 B .6250% HTPL:271081 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 05307 A ' .5860% 05308 B .6250% 05309 C .6445% 05310 C 6445% 05401 B .6250% 05402 A .5860% 05403 B .6250% 05404 C .6445% 05405 C .6445% 05406 B _6250% 05407 A .5860% 05408 B .6250% 05409 C .6445% 05410 C .6445% 06101 B .6250% 06102 A .5860% 06103 B .6250% 06104 C .6445% NTPL:271081 vl UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 06105 C .6445% 06106 B .6250% 06107 A .5860% 06108 B .6250% 06109 C .6445% 06110 C .6445% 06201 B .6250% 06202 A .5860% 06203 B .6250% 06204 C .6445% 06205 C .6445% 06206 B .6250% 06207 A .5860% 06208 B .6250% 06209 C .6445% 062I0 C .6445% 06301 B .6250% 06302 A .5860% HTPL: 271081 v1 UNIT NUMBER UNIT TYPE PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 06303 B .6250% 06304 C .6445% 06305 C .6445% 06306 B .6250% 06307 A .5860% 06308 B .6250% 06309 C .6445% 06310 C .6445% 06401 B .6250% 06402 A .5860% 06403 B .6250% 06404 C .6445% 06405 C .6445% 06406 B .6250% 06407 A .5860% 06408 B .6250% 06409 C .6445% 06410 C .6445% 100% 1P1'PL:271081 v1 JUDITH A. GIBSON REGISTER OF DEEDS, MECKLENBURG COUNTY & COURTS OFFICE BUILDING . 720 EAST FOURTH STREET CHARLOTTE, NC 28202 PLEASE RETAIN YELLOW TRAILER PAGE It is part of the recorded document, and must be submitted with original for re-recording and/or cancellation. Filed For Registration: 01/04/2006 11:50 AM Book: RE 19850 Page: 217-230 Document No.: 2006001463 DECIU 14 PGS $50.00 Recorder: GRACE TUCKER 111111111111111111111111111111111111111111111111111113 2006001463 BYLAWS OF BELLE VISTA CONDOMINIUM UNIT OWNERS ASSOCIATION, INC. ARTICLE I PLAN OF CONDOMINIUM 1.1. Ownership. The property located in Mecklenburg County, State of North. Carolina, and more particuIariy described in the Declaration of Belle Vista Condominium (the "Declaration"), has been submitted to the provisions of the North Carolina Condominium Act (the "Act") by instrument recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, simultaneously herewith, and shall be known as Belle Vista Condominium (the "Condominium"). 1.2. Applicability of Bylaws. The provisions of these Bylaws are applicable to the Property of the Condominium, and to the use and occupancy thereof including all additional phases which may be added thereto. 1.3, Persons Bound. All present and future Unit Owners, mortgagees, Lessees and Occupants of Units and their employees, and any other persons who may use the facilities of the Property in any manner are subject to the Declaration, these Bylaws and any Rules and Regulations made pursuant hereto, and any amendment to these Bylaws or the Declaration upon the same being passed and recorded in the manner set forth in the Condominium Documents. The acceptance of a deed of conveyance or the entering into of a lease or the act of occupancy of a Unit shall constitute an agreement that these Bylaws (and any Rules and Regulations made pursuant hereto) and the provisions of the Declaration, as they may be amended from time to time, are accepted, ratified and will be complied with. 1.4, Definitions. The words, phrases and terms listed in these Bylaws shall have the meanings as set forth in the Declaration, to which these Bylaws are attached, unless the context clearly indicates a different meaning therefor. ARTICLE II UNIT OWNERS 2.1. Name and Nature of Association. Belle Vista. Condominium Unit Owners Association, Inc, (the "Association") shall be a nonprofit corporation, organized under the laws of the State of North Carolina, and the membership shall be comprised of all of the Unit Owners as herein provided, which Association shall be governed by the Board as herein provided. 2,2, Place of Meetings. All meetings of the Association shall be held at the Property, or at such other place, either within or without the State of North Carolina, as shall be designated in a notice of the meeting. 2.3. Annual. An annual meeting of the Unit Owners shall be held at 7:00 o'clock p,m. on the first Monday in May of each year, if not a legal holiday, and if a legal holiday, then at the same time on the next business day following the legal holiday, for the purpose of electing C:U}aoeurncnts and Scttingstdrowier\Local ScttingsVfcmpora y Internet Files\OLKF\Revised Belie Vista Bylaws et-25-061.1)0C members of the Board and for the transaction of such other business as 'may be properly brought before the meeting. 2.4. Substitute Annual Meetings. If the annual meeting shall not be held on the day designated by the Bylaws, a substitute annual meeting may be called in accordance with the provisions of Section 2.5 of this Article. A meeting so called shall be designated and treated for all purposes as the annual meeting. 2.5. Special Meeting. Special meetings of the Unit Owners may be called at any time by the President, a majority of the Board, or upon the written request of the Unit Owners owning at least 20%'in Allocated Interest in the Common Elements exclusive of those Units held by the Declarant. 2.6. Notice of Meetings. Written or printed notice stating the place, day and hour of any meeting shall be delivered or mailed not less than 10 days nor more than 50 days prior to the date thereof, either personally or by postage prepaid mail, at the direction of the Board, the President, or Unit Owners calling the meeting, to each person entitled to vote at such meeting, and, to all Eligible Mortgage Holders so requesting under the provisions of Article XI of the Declaration, who may request a representative to attend the meeting of Unit Owners. The notice of any meeting must state the time and place of the meeting and the items on the agenda, including the general nature of any proposed amendment to the Declaration or these Bylaws, and budget changes, and any proposal to remove Board members or officers. When a meeting is adjourned for less than 30 days in any one adjournment it is not necessary to give any notice of the adjourned meeting, other than by announcement at the meeting at which the adjournment is effective. 2.7. Quorum. The presence in person or by proxy at any meeting of the Voting Members (as defined in Section 2.8 of this Article) having,10% of the total votes which may be cast for election of the Board shall constitute a quorum. If there is no quorum at the opening of the meeting of Unit Owners, such meeting may be adjourned from time to time by the vote of a majority of the Voting Members present, either in person or by proxy; and at any adjourned meeting the quorum requirement shall be reduced by 50% of the original quorum requirement and if such quorum is present, any business may be transacted which might have been transacted at the original meeting. The Voting Members at a meeting at which a quorum is present may continue to do business until adjournment, notwithstanding the withdrawal of enough Voting Members to leave less than a quorum. 2.8. Voting Rights. There shall be one person with respect to each Owner who shall be entitled to vote at any meeting of the Unit Owners (the "Voting Member"). The Voting Member may be the Unit Owner, or one of a group composed of all of the Unit Owners of a Unit, or may be some other person designated by such Unit Owner(s) to act as proxy on his or their behalf, and who need not be a Unit Owner. Each Unit Owner or group of Unit Owners shall be entitled to one vote for each Unit owned. No votes allocated to a Unit or Units owned by the Association may be cast. C:10ocuments and Settingsldfowlcr\Local SettingsYremporary Intcrnct rilcs\OLKF\Rcviscd Belle Vista Bylaws 4-25-061.DOC 2 2.9. Majority Vote. The vote of a majority of the Voting Members present at a meeting at which a quorum shall be present shall be binding upon all Unit Owners for all purposes except where a higher percentage vote is required by the Declaration, these Bylaws or by law. 2. 10. Proxies. The Voting Members may vote either in person or by agents duly authorized by written proxy executed by such Unit Owner or his duly authorized attorney in fact. A proxy shall be valid only for the particular meeting designated therein, unless the person executing it specifies therein the length of time for which it is to continue in force, which time shall not extend beyond one year from the date of its execution. Unless a proxy otherwise provides, any proxy holder may appoint in writing a substitute to act in his place. In order to be effective, all proxies must be dated and filed with the Secretary or duly acting Secretary of the Association, either during or prior to the meeting in question. A proxy is void if it is not dated. 2.11. Waiver of Notice. Any Voting Member may, at any time, waive notice of any meeting of the Association in writing, and such waiver shall be deemed to be equivalent to the giving of such notice. Attendance by a Voting Member at any meeting of the Association shall constitute a waiver of notice by him of the time and place thereof, except where a Voting Member attends a meeting for the express purpose of objecting to the transaction of any business because the meeting was not lawfully called. 2.12. Informal Action by Unit Owners. Any action which may be taken at a meeting of the Association may be taken without a meeting if a consent in writing, setting forth the action so taken, shall •be signed by all of the Voting Members and filed with the Secretary of the Association to be kept in the Association's minute book. ARTICLE III EXECUTIVE BOARD 3.1. Number. The business and property of the Condominium' shall be managed and directed by the Executive Board (the "Board"), composed of seven persons, except as hereinafter provided. The size of the Board may be increased or decreased from time to time upon the affirmative vote of three fourths of all Unit Owners, provided that said Board shall not be less than three in number. 3.2. Initial Members. The initial members of the Board (referred to as "Directors" herein) shall be selected by the Declarant, and need not be Unit Owners. Such initial directors shall serve at the election of the Declarant from the date upon which the Declaration is recorded in the Office of the Register of Deeds for Mecklenburg County, until such time as their successors are duly elected and qualified. The names and addresses of the persons who shall serve on the initial Board from the date upon which the Declaration is so recorded in the Mecklenburg County Public Registry until such time as their successors are duly elected and qualified, are as follows: C:1Documenls and ScttingsldrowlerlLocal Scttings\Tcmporary Internet Files\OLKFIRovised Belle Vista Bylaws 4-25-06I.DOC 3 NAME ADDRESS David A. Cushing Scott H. Binder Ronda Ratliff Pulte Rome Corporation 11121 Carmel Commons Boulevard Suite 450 Charlotte, North Carolina 28226 Pulte Home Corporation 11121 Carmel Commons Boulevard Suite 450 Charlotte, North Carolina 28226 Pulte Home Corporation 11121 Carmel Commons Boulevard Suite 450 Charlotte, North Carolina 28226 3.3. Election. Except as provided herein, the directors shall be elected at the annual meeting of the Association, and those persons who receive the highest number of votes shall be deemed to have been elected. The Declarant shall have the right to appoint or remove the Directors until the earlier of the following three dates: (a) within 120 days after the date by which 75% of the Units (including any Units which may be created pursuant to Special Declarant Rights) have been conveyed to Unit purchasers other than Declarant; (b) two years after all Declarants have ceased to offer Units for sale in the ordinary course of business, or (c) two years after any development right to add additional Units under the Act was last exercised. The Declarant can turn over control of the Association to such Unit Owners other than the Declarant prior to such dates in its sole discretion by causing all or part of its appointed Directors to resign, whereupon it shall be the affirmative obligation of Unit Owners other than the Declarant to elect Directors and assume control of the Association. Provided at least 30 days notice of Declarant's decision to cause its appointees to resign is given to Unit Owners, neither the Declarant, nor such appointees, shall be liable in any manner in connection with such resignations even if the Unit Owners other than the Declarant refuse or fail to assume control. Within 60 days after conveyance of 25% of the Units (including Units which may be created pursuant to Special Declarant Rights) to Unit Owners other than the Declarant, at least one Director and not less than 25% of the directors of the Board shall be elected by Unit Owners other than the Declarant. Within 60 days after conveyance of 50% of the Units (including Units which may be created pursuant to Special Declarant Rights) to Unit Owners other than the Declarant, not less than 33% of the Directors of the Board shall be elected by Unit Owners other than the Declarant. Within 60 days after the Unit Owners other than the Declarant are entitled to elect such Director or Directors, or sooner if the Declarant has elected to accelerate such event as aforesaid, the Association shall call, and give not Tess than 10 days nor more than 50 days notice of 'a meeting of the Unit Owners to elect such Director or Directors of the Board. The meeting may be called and the notice given by any Unit Owner if the Association fails to do so. C:Docunicnts and Scttingsldrowler\Local SettingslTempornry Internet Fi1cs10LKF 1.evised Belle Vista Bylaws 4-25-061.DOC 4 Within 60 days after the Unit Owners other than the Declarant are entitled to elect such Director or Directors, or sooner if the Declarant has elected to accelerate such event as aforesaid, the Association shall call, and give not less than 10 days nor more than 50 days notice of a meeting of the Unit Owners to elect such Director or Directors of the Board. The meeting may be called and the notice given by any Unit Owner if the Association fails to do so. 3.4. Term and Qualification. Each Director shall hold office for the term for which he was elected, or until his death, resignation, retirement, removal, disqualification or until his successor is elected and qualified. Each such Director shall serve for a two year term. Nothing herein contained shall be construed to prevent the election of' a Director to succeed himself. Each Director shall be one of the Unit Owners or co -Unit Owners, provided, however, that in the event a Unit Owner is a corporation, partnership, trust or other legal entity other than a natural person or persons, then an officer or director of such corporation, partner of such partnership, beneficiary of such trust or manager of such other legal entity, shall -be eligible to serve as a Director. 3.5. Removal. Directors, may be removed from office with or without cause by the affirmative vote of at least 67% of the Voting Members. If any Directors are so removed, new Board members may be elected at the same meeting; provided, however, that the person(s) selected by Declarant cannot be removed without the prior written consent of Declarant. 3.6. Vacancies. A vacancy occurring in the Board may be filled by a majority of the remaining Directors, though Iess than a quorum, or by the sole remaining Director, but a vacancy created by an increase in the authorized number of Directors shall be filled only by election at an annual meeting or a special meeting of Unit Owners called for that purpose. The Voting Members may elect a Director at any time to fill any vacancy not filled by the Board. In the event that Declarant, in accordance with the rights herein established, selects any person to serve on the Board, Declarant shall have the absolute right at any time, in its sole discretion, to replace such person with another person to serve on the Board. Replacement of any person designated by Declarant to serve on the Board shall be made by written instrument delivered to any officer of the Association, which instrument shall specify the name of the person to be replaced and the name of the person designated as successor to the person so removed from the Board. The removal of any such Board member and the designation of his successor shall be effective immediately upon delivery of such written instrument by Declarant to'any officer of the Association. 3.7. Compensation. The Board shall receive no compensation for their services unless expressly allowed by the Board at the direction of the Unit Owners other than the Declarant having two thirds of the total votes, 3.8. Executive Committees, The Board may, by resolution adopted by a majority of the number of Directors fixed by these Bylaws, designate two or more of its members to constitute an executive committee, which committee, to the extent provided in such resolution, shall have and may exercise all of the authority of the Board in the management of the Condominium. C:1Documents and Settings\drowlerrLocai SettingslTemporary Internet Fi1es1OLKF\Revised Belle Vista Bylaws 4-25-061.DOC 5 The Board may, in like manner, create such other committees as it deems necessary and appropriate in aiding the Board to carry out its duties and responsibilities with respect to the management of the Condominium. 3.9. Powers and Duties. The Board shall have the powers and duties necessary for the administration of the affairs of the Condominium, and may do all such acts and things, except such acts as by law or the Declaration or by these Bylaws may not be delegated to the Board, Such powers and duties of the Board shall include, but shall not be limited to, the following: (a) Determining the Common Expenses required for the affairs of the Condominium, including, without limitation, the operation and maintenance of the Property. (b) Collecting the Common Expenses from the Unit Owners. (0) Elements. Supervising the operation, care, upkeep and maintenance of the Common (d) Employing and dismissing the personnel necessary for the maintenance and operation of the Common Elements. (e) Adopting and amending such reasonable rules and regulations as it may deem advisable for the maintenance, conservation, and beautification of the Property, and for the health, comfort, safety, and general welfare of the Unit Owners and occupants of the Property. Written notice of such rules and regulations shall be given to all Unit Owners and occupants, and the entire Property shall at all times be maintained subject to such rules and regulations. (f) Opening bank accounts on behalf of the Condominium and designating the signatories required therefor, (g) Selling, mortgaging, voting the votes appurtenant to, or otherwise dealing with Units acquired by the Association, or its designee, corporate or otherwise, on behalf of all Unit Owners, subject to the Declaration and other applicable restrictions, and organizing corporations to act as designees of the Board in acquiring title to Units on behalf of all Unit Owners. (h) Maintaining and repairing any Unit, if such maintenance or repair is necessary in the discretion of the Board or by operation of applicable restrictions to protect the Common Elements or any other portion of the Property, and a Unit Owner has failed or refused to perform such maintenance or repair within a reasonable time after written notice of the necessity of said maintenance or repair has been delivered or mailed by the Board to said Unit Owner; provided, however, that the Board shall levy a specific assessment against such Unit Owner for the costs of said maintenance or repair, including a reasonable amount for supervision. (i) Entering any Unit when necessary in connection with any maintenance or construction for which the Board is responsible; provided that, except in the event of emergencies, such entry shall be made during reasonable hours with as little inconvenience to the C:1Documents and SeningsldfowlcrlLocal Settings\Temporary Internet Files\0LKFIRevised Belle Vista Bylaws 4-25-061.DOC 6 Unit Owner as practical, and any damage caused thereby shall be repaired by the Board, with such expenses being treated as a Common Expense. (j) Signing all agreements, contracts, deeds, and vouchers for the payment of expenditures and other instruments in such manner as from time to time shall be determined by written resolution of the Board. Provided, however, that any contracts or leases executed on behalf of the Association prior to the passage of control. of the Board to the Association must be terminable by the Association without penalty on not less than 90 days written notice. In the absence of such determination by the Board, such document shall be signed by the Treasurer and countersigned by the President. (k) Obtaining insurance for the Property, including the Units, pursuant to the applicable provisions of the Declaration. (1) Making or contracting for repairs, additions, and improvements to, or alterations or restorations of, the Property in accordance with the other provisions of these Bylaws and the Declaration, after damage or destruction by fire or other casualty, or as a result of condemnation or eminent domain proceeding. (m) Contracting for aII goods,. services and insurance, payment for which is to be made from the Common Expense fund. (n) Instituting, defending, or intervening in litigation or administrative proceedings in the name of or on behalf of the Association or two or more Unit Owners on matters affecting the Condominium. (o) Borrowing money on behalf of the Condominium, when required in connection with the operation, care, upkeep, and maintenance of the Common Elements; provided, however, that the consent of the Unit Owners of at least two thirds of the Units represented at a meeting at which a quorum has been attained in accordance with the provisions of these Bylaws shall be required for the borrowing of any sum in excess of $10,000. (p) Imposing charges for late payment of assessments and, after notice and an opportunity to be heard, levying reasonable fines for violations of the Declaration, the Bylaws, or rules and regulations established by the Association, alI in accordance with Sections 47C-3-107 and 47C-3-107.1 of the Act. (q) At its discretion, authorizing Unit Owners or other persons to use portions of the Common Elements for private parties and gatherings and imposing reasonable charges for such private use, (r) Exercising (i) all powers specifically set forth in the Declaration, the Articles of Incorporation, these Bylaws and in the Act, (ii) all powers incidental thereto, and (iii) all other powers of a nonprofit North Carolina corporation. (s) Suspending the right of any Unit Owner to vote as long as said Unit Owner is delinquent in the payment of Common Expenses or is otherwise in violation of the Declaration or any exhibits thereto or applicable rules and regulations. C:IDocuments and Settingsldfowler\Local SettingslTemporary Internet Files\OLKilRevised Belle Vista Bylaws 4-25-061.DOC 7 (t) Ensuring that the Association performs on a timely basis all of its duties and obligations under and pursuant to the Community Declaration and the Easement Agreement, including, without Iimitation; paying all amounts which shall be due and payable by the Association pursuant to the same. 3.10. Managing Agent. The Board may engage the services of any person, firm, or corporation to act as managing agent at a compensation established by the Board, to perform such duties and services as the Board shall authorize, other than the powers set forth in subdivisions (a), (e), (g), (h), (i), (p) and (q) of Section 3.9 of this Article III. Any management agreement for the Condominium shall be terminable by either party without cause and without payment of a termination fee or penalty upon 90 days or more written notice thereof and the terms of such agreement may not exceed one year, renewable by agreement of the parties for successive one year periods. Any management agreement shall be terminable by either party for cause upon the giving of not less than 30 days written notice. When professional management has been previously utilized, any decision to establish self management by the Association shall require the prior consent of 67 percent of the Unit Owners and the approval of 51 percent of the Eligible Mortgage Holders, counting one vote for each First Mortgage owned. 3.I1. Duties of Declarant. Within a reasonable time after Unit Owners other than the Declarant elect a majority of the members of the Board (but not more than 60 days after such event), the Declarant shall deliver control of the Association and shall deliver to the Association all property of the Unit Owners and of the Association held or controlled by the Declarant, including, if applicable: (a) The original or a photocopy of the recorded Declaration of Condominium, and all amendments thereto. If a photocopy is provided, the Declarant must certify by affidavit that it is a complete copy of the actual recorded Declaration. (b) (c) (d) the Association. (e) (f) (g) A copy of the Articles of Incorporation of the Association. A copy of the Bylaws of the Association. The minute books, including all minutes, and other books and records of Any rules and regulations which have been adopted. Resignations of resigning officers and Board members. Association funds or the control thereof. (h) A Copy of the plans and specifications utilized in the construction or remodeling of improvements on the Property and the supplying of equipment, and for the construction and installation of all mechanical components servicing the improvements and the Condominium, with a certificate, in affidavit form, of an officer of the Declarant or an architect or engineer authorized to practice in North Carolina, that such plans and specifications represent, to the best of their knowledge and belief, the actual plans and specifications utilized in the C:IDocuments and Settingsldfowler\Local Settings\Tcmporary interne( Files\OLKFIRevised Belle Vista Bylaws 4-25-063.DOC 8 construction and improvement of the Condominium and the construction and installation of the mechanical components serving the Improvements and the Property. (i) Insurance policies. (j) Copies of any Certificates of Occupancy which may have been issued for the Condominium. (k) Any other permits issued by governmental bodies applicable to the Condominium in force or issued within one year prior to the date the Unit Owners take control of the Association. (1) All written warranties of contractors, subcontractors, suppliers and manufacturers, if any, that are still effective. (m) A roster of Unit Owners and their addresses and telephone numbers, if known, as shown on the Declarant's records. (n) Employment contracts or service contracts in which the Association is one of the contracting parties, or service contracts in which the Association or Unit Owners have an obligation or responsibility, directly or indirectly, to pay some or all of the fee or charge of the person or persons performing the service. (o) All other contracts to which the Association is a party. ARTICLE IV MEETINGS OF DIRECTORS 4.1. Organizational Meeting. The first meeting of the initial Board designated in these Bylaws shall be held at such time as the Declarant shall determine, but in no event later than one year from the date of incorporation of the Association. The first meeting of the first Board elected at that point after which Unit Owners other than the Declarant are entitled to elect a majority of the directors shall be held within 15 days following the meeting of the Unit Owners at which the Board was elected. No notice shall be necessary to the newly elected members of the Board in order to legally constitute such meeting, provided that a quorum is present. 4.2. Regular Meeting. A regular meeting of the Board shall be held immediately after, and at the same place as, the annual meeting or substitute annual meeting of the Unit Owners. In addition, the Board may provide by resolution the time and place, either within or without the State of North Carolina, for the holding of a regular meeting of the Board. 4.3. Special Meetings. Special meetings of the Board may be called by the President, or by any two Directors. Such meetings may be held either within or without the State of North Carolina. 4.4. Notice of Meetings. Regular meetings of the Board may be held without notice. The person(s) who called a special meeting of directors shall, at least two days prior to said C:1Documcnts and Settingsldfowler\Local SettingslTemporary Internet Files\OLKFIRevised Belle Vista Bylaws 4-25-061.DOC 9 meeting, give notice thereof by any usual means of communication. Such notice need not specify the purpose for which the meeting is called. 4.5. Waiver of Notice. Any member of the Board may at any time waive notice of any meeting of the Board in writing, and such waiver shall be deemed equivalent to the giving of such notice. Attendance by a Director at any meeting of the Board shall constitute a waiver of notice of such meeting except where a member attends the meeting for the express purpose of objecting to the transaction of any business because the meeting was not lawfully called and he does so object. 4.6. Quorum. A majority of the number of Directors fixed by these Bylaws shall be required for and constitute a quorum for the transaction of business at any meeting of the Board. The Directors at a meeting at which a quorum is present may continue to do business until adjournment, notwithstanding the withdrawal of enough Directors to leave less than a quorum. 4.7. Manner of Acting. Except as otherwise provided in this Article, the act of the majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board. A vote of a majority of the number of Directors fixed by these Bylaws shall be required to adopt a resolution constituting an executive committee. 4.8. Organization. Each meeting of the Board shall be presided over by the President, and in the absence of the President, by any person selected to preside by vote of the majority of the Board members present. The Secretary, or in his absence, an Assistant Secretary, or in the absence of both the Secretary and the Assistant Secretary, any person designated by the President of the meeting shall act as secretary of the meeting, 4.9. Informal Action of Board. Action taken by a majority of the Directors without a meeting is nevertheless Board action if written consent to the action in question is signed by all of the Directors and filed with the minutes of the proceedings of the Board, whether done before or after the action so taken, 4.10. Minutes. The Board shall keep minutes of its proceedings, which shall be available for inspection by the Unit Owners during reasonable business hours. 4.11. Liability of the Board and Officers. The Directors and the officers provided for in Article V hereof shall not be liable to the Unit Owners for any mistake of judgment, negligence, or otherwise, except for their own individual willful misconduct or bad faith. The Unit Owners shall indemnify and hold harmless each of the Directors and the officers against all contractual liability to others arising out of contracts made by the Board or the officers on behalf of the Condominium, unless any such contract shall have been made in bad faith or contrary to the provisions of the Declaration or these Bylaws. It is intended that the Directors or any officer shall have no personal liability with respect to any contract made by them on behalf of the Condominium, except to the extent that they are Unit Owners and have liability as such. It is also intended that the liability of any Unit Owner arising out of any contract made by the Board or the officers, or out of the aforesaid indemnity in favor of the directors or the officers, shall be limited to such proportion of the total liability thereunder as his interest in the Common Elements bears to the interests of all the Unit Owners in the Common Elements. Every agreement made by the Board, by the managing agent or by the officers on behalf of the Condominium shall provide that C:IDocuments and Scttingsldfowier\Local Settings\Temporary Internet Files1OLKF\Revised Belle Vista Bylaws 4-25-061.DOC 10 the members of the Board, the managing agent or the officers, as the case may be, are acting only as agents for the Unit Owners, and shall have no personal liability thereunder. 4.12. Attendance of Unit Owners. Regular meetings of the Board shall not be open to Unit Owners; provided, however, Unit Owners may request to attend meetings of the Board for a specific purpose as stated in a written request to the Board, which request shall be considered by the Board in its sole and absolute discretion. ARTICLE V OFFICERS 5.1. Number. The principal officers of the Condominium shall consist of a President, a Secretary, a Treasurer, and such Vice Presidents, Assistant Secretaries, Assistant Treasurers and other officers as the Board may from time to time elect. Any two or more offices may be held by the same person, except the offices of President and Secretary. 5.2. Election and Term. The officers of the Condominium shall be elected by the Board. The President, Vice President, Secretary and Treasurer shall be elected from among the Board, and all other officers, if any, need only be a Unit Owner. The officers elected by the initial Board are not required to be Unit Owners. The election of the officers may be held at the regular annual meeting of the Board. Each officer shall hold office for a period of one year, or until his death, resignation, retirement, removal, disqualification, or until his successor is elected and qualifies. 5.3. Removal. Any officer or agent elected or appointed by the Board may be removed by the Board, with or without cause. 5.4. Compensation. No officer shall receive any compensation from the Condominium for acting as such. 5.5. President. The President shall be the principal executive officer of the Condominium, and, subject to the control of the Board, shall supervise and control the management of the Condominium. The President shall, when present, preside at all meetings of the Board and of the Unit Owners and, in general, shall perform all duties incident to the office of President, including the preparation, execution, certification, and recordation, with the Secretary, of amendments to the Declaration on behalf of the Association, and such other duties as may be prescribed from time to time by the Board. 5.6. Vice President, The Vice President, and if there be more than one, the Vice Presidents, designated by the Board, shall, in the absence or disability of the President, have the powers and perform the duties of said office. In addition, each Vice President shall perform such other duties and have such other powers as shall be prescribed by the President or by the Board. 5.7. Secretary. The Secretary shall keep accurate records of the acts and proceedings of all meetings of Unit Owners and directors. He shall give, or cause to be given, all notices required by law and by these Bylaws. He shall have general charge of the minute books and records of both the Association and the Board. He shall sign such instruments as may require his C;1Documents and Settingsldfowlcrll.ocal ScttingslTemporary lnternet Files\OLKIIRcvised Belle Vista Bylaws 4-25-061.DOC 1.1 signature, and, in general, shall perform all duties incident to the office of secretary, including the preparation, execution, certification, and recordation, with the President, of amendments to the Declaration on behalf of the Association, and such other duties as may be assigned him from time to time by the President of the Board or by the Board. 5.8. Treasurer. The treasurer shall receive and deposit in appropriate bank accounts all Condominium funds and securities, and shall receive, deposit or disburse the same under the direction of the Board. He shall keep full and accurate accounts of the finances of the Condominium in books especially provided for that purpose. He shall cause a true statement of its assets and Iiabilities as of the close of each fiscal year, and of the results of its operations and changes in surplus for each fiscal year, all in reasonable detail, to be prepared and distributed to all Unit Owners and members of the Board on or before the I5th day of the second month following the close of each fiscal year. The statement so filed shall be kept available for inspection by any Unit Owner for a period of three years. The Treasurer shall also prepare and file all reports and returns required by federal, state or local Iaw, and shall perform all other duties as may be assigned to him from time to time by the President of the Board or by the Board. 5.9, Assistant Secretaries and Treasurers. The Assistant Secretaries and Assistant Treasurers, if any, shall, in the absence of the Secretary and Treasurer, respectively, have all the powers and perform all of the duties of those officers, and they shall perform such other duties as shall be assigned to them by the Secretary or the Treasurer, respectively, or by the President or by the Board. ARTICLE VI OPERATION OF THE PROPERTY 6.1. Assessment and Determination of Common Expense. The Board shall from time. to time, and at least annually, prepare a budget for the Condominium, for the purpose of determining the amount of the Annual Assessments to be collected from the Unit Owners in order to provide for the Common Expenses of the Condominium, and allocate and assess such Common Expenses among the Unit Owners, according to their Percentage of Interest in the Common EIements as set forth in the Declaration, taking into consideration any expected income and any surplus from the prior year's operations. The Common Expenses shall include, without limitation: the expenses, costs and charges incurred in connection with the administration, operation and management of the Condominium property; all amounts which shall be the obligation of the Association pursuant to the Community Declaration and the Easement Agreement; the cost of maintenance, repair, replacement and restoration of the Common Elements, or any part thereof; the cost of all insurance premiums on all policies of insurance required to be or which have been obtained by the Board pursuant to the ,provisions of the Declaration; such amounts as the Board may deem proper for the convenience, comfort and well being of the Unit Owners, and for the operation, management and maintenance of the Property, including, without Iimitation, an amount for working capital of the Condominium, for a general operating reserve, for a reserve fund for replacement or improvement to the Common Elements and those Limited Common Elements the Association is obligated to maintain, and to make up any deficit in the Common Expenses for any prior year; in proper cases, the cost of administration and of maintenance and repair of the Limited Common Elements; and any other expenses lawfully agreed upon. C117ocuments and Settingsldfowler\Local Settings\Temporary Internet Filcs1OLKIARevised Belle Vista Bylaws 4-25-061.00C 12 In establishing a reserve fund for replacements, the Board shall take into account the number and nature of replaceable assets, the expected life of each asset and the expected repair or replacement cost. The Board shall then set the required capital contribution in an amount sufficient to permit meeting by equal annual installments over the applicable period the projected capital needs of the Association with respect to both amount and timing. Within 30 days after adoption by the Board of any proposed budget for the Condominium, the Board shall provide a summary of the budget to all Unit Owners and shall give notice of a date for a meeting of the Unit Owners to consider ratification of the budget not less than 14 nor more than 30 days after mailing of the summary and notice. Notwithstanding Section 4.6 of these Bylaws, a quorum need not be present at the meeting. The budget is ratified Unless at the meeting a majority of all the Unit Owners (whether or not present at the meeting) votes to reject the budget. In the event the proposed budget is rejected, the periodic budget last ratified shall be continued until such time as the Unit Owners ratify a subsequent budget proposed by the Board. 6.2. Payment of Assessments. All Unit Owners shall be obligated to pay (a) Annual Assessments of Common Expenses assessed by the Board pursuant to the provisions of Section 6. 1; (b) special assessments to be established and collected as provided herein, and (c) specific assessments against any Unit which are established pursuant to the terms of these Bylaws. Annual Assessments shall be due and payable in monthly installments on the first day of every month. A late payment charge in an amount to be determined by the Board shall be assessed for any installment not paid by the tenth of the month. Any installment not paid during the month in which it is due shall be subject to the late payment charge and shall accrue interest as provided in Section 6,5, and shall constitute a lien on the Unit as provided in Section 6.6. No Unit Owner shall be liable for the payment of any part of the Common Expenses assessed against his Unit subsequent to a sale, transfer or other conveyance by him (made in accordance with the provisions of the Declaration and applicable restrictions of record) of such Unit, together with his interest in the Common Elements (and Limited Common Elements, if any). A purchaser of a Unit shall be jointly and severally liable with the seller for the payment of Assessments assessed against such Unit prior to the acquisition by the purchaser of such Unit only if the purchaser expressly assumes such obligation in writing; provided, however the lien assessed against such Unit shall remain in full force and effect. Any such purchaser shall be entitled to a statement from the Board setting forth the amount of the unpaid Assessments against the seller, and the Unit conveyed shall not be subject to a lien for any unpaid assessments in excess of the amount shown on the statement. Provided, however, that First Mortgagee or other purchaser of a Unit at a foreclosure sale of such Unit or First Mortgagee who takes a deed in lieu of foreclosure shall not be liable for, and such Unit shall not be subject to, a lien for the payment of Common Expenses assessed prior to the foreclosure sale or deed in lieu of foreclosure. Such unpaid Common Expenses shall be deemed to be Common Expenses collectible from all of the Unit Owners, including such purchaser, his successors and assigns. 6.3. Special Assessments. The Association may levy Special Assessments for Common Expenses not covered by the Annual Assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Elements, including fixtures and C:1Documents and Settingsldfowler\Local SetlingslTemporary Internet Files\OLKF\Revised Belle Vista Bylaws 4-25-061.DOC 13 personal property related thereto, provided that any such Assessment shall have the assent of two thirds of the Voting Members at a meeting duly called for this purpose. Such Special Assessments shall be charged to the Units according to their Allocated Interests in the Common Elements. In addition, the Board may levy Special Assessments against one or more, but less than all, of the Units to cover repairs or maintenance for which such Unit Owner or Unit Owners are responsible and which they have failed to make, or for repairs or maintenance required of a Unit Owner or Unit Owners which impair the value of the Common Elements or the Unit or Units, or expenses which are incurred in the abatement of or as a result of a violation by a Unit Owner or Unit Owners of the provisions of the Declaration, the Bylaws or the Rules and Regulations, or for fines levied for said violations, or where the Board has purchased a Unit on behalf of one or more Unit Owners. The period of assessment and manner of payment of such assessment shall be determined by the Board. 6.4. Collection of Assessments. The Board shall determine Common Expenses against the Unit Owners from time to time, at least annually, and may, as the Board shall determine, take prompt action to collect any Assessments due from any Unit Owner which remain unpaid for more than 30 days from their due date. The Board shall notify Eligible Mortgage Holders pursuant to the provisions of the Declaration of any amount assessed pursuant to these Bylaws which remains unpaid for more than 60 days from its due date, and in any other case where the Unit Owner of such Unit is in default with respect to the performance of any obligation hereunder for a period in excess of 60 days. 6.5. Default in Payment of Assessment. In the event of default by any Unit Owner in paying any amounts assessed by the Board, such Unit Owner shall be obligated to pay a late payment charge as established by the Board from time to time, and interest at the rate of 18% on such amounts from their due date; together with all expenses, including attorneys' fees (as permitted by law), incurred by the Board in collecting such unpaid sums. If a Unit Owner shall be in default in payment of an installment of an Assessment, including but not limited to, the monthly installment based on the annual budget, the Board may accelerate the remaining installments upon ten days' written notice to such Unit Owner, whereupon the entire unpaid balance of such Assessment shall become due upon the date stated in such notice. The Board may appoint an Adjudicatory Panel composed of five (5) Unit Owners, which may include members of the Board. The Adjudieatory Panel shall have the authority to levy fines not to exceed One Hundred and Fifty ($150.00) per violation for a violation of the Declaration, these Bylaws, or any Rules and Regulations enacted by the Board. Prior to the imposition of any such fine, the Adjudicatory Panel shall send to the defaulting Unit Owner written notice of the proposed fine and notice of the date, time and location for a hearing before the Adjudicatory Panel at which time the defaulting Unit Owner and the panel may present evidence. The notice of hearing shall be delivered personally or sent by certified mail before the hearing date. The Adjudicatory Panel shall provide the defaulting Unit Owner written notice of its decision once it is reached. The fine shall be an assessment secured by a lien under Section 47C-3-116 of the Act. 6.6. Lien and Personal Obligation. Each Assessment provided for in this Article, together with late payment charges, interest and expenses, including attorneys' fees (as permitted C:1Documenis and Settings\dfowler\Local SettingslTemporary Internet Files\OLKF\Reviscd Belle Vista Bylaws 4.25-06I.DOC 14 by law), shall be a charge on and a continuing Iien upon the Unit against which the Assessment is made when a notice of such lien has been filed of record in the office of the Clerk of Superior Court of Mecklenburg County, North Carolina, in the manner provided by Article 8, Chapter 44, of the North Carolina General Statutes, provided such notice of lien shall not be recorded until such sums assessed remain unpaid for a period of 30 days after the same shall become due. Said notice of lien shall also secure all Assessments against the Unit becoming due thereafter until the lien has been satisfied. Said lien may be foreclosed in the manner as a deed of trust .on real property. In addition, each Unit Owner shall be personally liable for any Assessment against his Unit becoming due and payable while he is the Unit Owner of such Unit. 6.7. Priority of Assessment Lien. The lien of the Assessments provided for in this Article shall be prior and superior to all other liens except (a) ad valorem taxes and (b) all sums unpaid on deeds of trust, mortgages or other encumbrances against the Unit prior to the docketing of the Assessment lien. The sale or transfer of any Unit shall not affect the Assessment lien against such Unit. Provided, however, the sale of a Unit pursuant to the foreclosure sale or execution sale instituted by a superior lien holder or conveyance to Mortgagees by deed in lieu of foreclosure shall extinguish the inferior Assessment lien against the subject Unit but no such sale or transfer shall relieve each Unit from liability for any Assessments thereafter becoming due or for any future Iien in connection therewith. The Association shall share in the excess, if any, realized by the sale of any Unit pursuant to a foreclosure or action instituted by a superior lien holder, to the extent of its lien. 6.8. Unit Owners Non -Use. No Unit Owner may exempt himself from liability for Assessments and his other obligations to the Association by waiver of the use or enjoyment of any portion of the Common Elements or by the abandonment or sale of his Unit. 6.9. Foreclosure of Liens for Unpaid Assessments. The Board, acting on behalf of the Association, or on behalf of any one or more individual Unit Owners, if so instructed, shall have the power to purchase such Unit at the foreclosure sale and to acquire, hold, lease, mortgage, vote the votes appurtenant to, convey or otherwise deal with the same, subject, however, to applicable restrictions of record. A suit to recover a money judgment for unpaid Assessments shall be maintainable without foreclosure or waiver of the Assessment lien. Where a First Mortgagee or the purchaser of a Unit obtains title to the Unit as a result of foreclosure of a mortgage, such purchaser, its successors and assigns, shall not be liable for the share of the Common Expenses or Assessments by the Board chargeable to such Unit which became due prior to the acquisition of title to such Unit by such purchaser. Such unpaid share of Common Expenses or Assessments shall be deemed to be a Common Expense collectible from all Unit Owners, including such purchaser, its successors and assigns. 6.10. Statement of Common Expense. The Board shall promptly provide to any Unit Owner so requesting in writing a written statement of all unpaid charges due from such Unit Owner, for which it may impose a reasonable charge at its discretion. 6.11. Abatement and Enjoinment of Violations by Unit Owners. The violation of any rule or regulation adopted by the Board, the breach of any Bylaw contained herein, or the breach of any provision of the Declaration, shall give the Board the right; in addition to any other rights set forth in these Bylaws: (a) to enter the Unit in which, or as to which, such violation or breach exists, and to make any repairs, and to summarily abate and remove, at the expense of the C:IDocuments and Settingsldfowler\Local SellingslTemporary Internet Ciles1OLKF1itevised Belle Vista Bylaws 4-25-061.DOC 15 defaulting Unit Owner, any structure, thing, or condition which may exist therein contrary to the intent and meaning of the provisions hereof, and the Board shall not thereby be deemed guilty in any manner of trespass, but no items of construction shall be altered or demolished pursuant to this authority before judicial proceedings are instituted; (b) to enjoin, abate, or remedy by appropriate legal proceedings, either at law or in equity, at the expense of the defaulting Unit Owner, the continuance of any such breach; (c) in any case of flagrant or repeated violation by a Unit Owner, to require such Unit Owner to give sufficient sureties for his future compliance with such Condominium documents; or (d) after notice and an opportunity to be heard, to levy reasonable assessments and fines in accordance with Sections 47C-3-107 and 47C-3-107.1 of the Act for such violations. The failure of the Board or Adjudicatory Panel to so act with respect to any such violation or breach shall not be deemed a waiver of the Board's or Adjudicatory Panel's right to act with respect to the same or any other breach. 6.12. Maintenance and Repair. (a) Each Unit Owner shall maintain, repair, and replace, at his sole cost and expense, all portions of his Unit which may become in need of maintenance, repair, or replacement, including the components of the heating and air conditioning system within and appurtenant to each Unit, if any, all bathroom and kitchen fixtures and appliances, light fixtures, interior, non-loadbearing walls, doors, floors, ceilings, carpeting, drapes and other items within the Unit, whether structural or nonstructural, ordinary or extraordinary (other than maintenance of and repairs to any Common Elements not specifically set forth herein contained therein and not necessitated by the negligence, misuse or neglect of the Unit Owner, his employees, guests, agents, servants, lessees, invitees or contractors). Each Unit Owner shall clean the Limited Common Elements appurtenant to his Unit and replace all Ight bulbs in fixtures (if any) located in such Limited Common Elements. Each Unit Owner shall be responsible for replacing all heating and air conditioning filters, if any, required in his Unit. Each Unit Owner shall further be responsible for all damages to any and all other Units and/or to the Common Elements which his failure to undertake his maintenance responsibility may cause. AlI damages to the Common Elements or other Units intentionally or negligently caused by the Unit Owner, his employees, guests, agents, servants, lessees, invitees or contractors shall be promptly repaired by the Unit Owner at his sole cost and expense; provided that there is excluded from the provisions contained in this section such repairs necessitated by casualties insured against by the Association to the extent the Association receives insurance proceeds for such repairs. The Unit Owner shall be in said instance required to pay such portion of the costs of such maintenance, repair and replacement as shall exceed the amount of the applicable insurance proceeds. If the Unit Owner does not make those repairs to be made by him within 30 days from written demand by the Board, the same may be repaired by the Board, and the cost thereof shall be assessed against the Unit owned by the subject Unit Owner. (b) The Association, through its Board, shall maintain, repair and replace all portions of the Common Elements and Limited Common Elements (except as provided in Section 6.12(a) above or in the Declaration) which shall require same, whether located inside or outside of the Units (unless necessitated by the negligence, misuse or neglect of a Unit Owner, his employees, guests, agents, servants, lessees, invitees or contractors, in which case such expense shall be charged to such Unit Owner, or unless herein provided to the contrary), and the cost thereof shall be charged to all the Unit Owners as a Common Expense. C:IDocumcnts and Settings\dfowlerlLocal SettingstTemporary Internet riles\OLKllRevised Belle Vista Bylaws 4-25-061.DOC 16 6.13. Restrictions on Unit Owners. No Unit Owner shall perform or cause to be performed any maintenance, repair or replacement work which disturbs the rights of the other Unit Owners, jeopardizes the soundness or the safety of the Condominium property, or reduces the value thereof. Each Unit Owner shall cause any work so performed or being performed on the Unit, which, in the sole opinion of the Board, violates the terms of this section, to be immediately corrected, and he shall refrain from recommencing or continuing any such work without written consent of the Board. 6.14. Duty to Report. Each Unit Owner shall promptly report to the Board or its agent any defect or need for repairs or replacement the responsibility for which is that of the Association. 6.15. Additions, Alterations or Improvements by the Association. Whenever in the judgment of the Board, the Common Elements shall require additions, alterations or improvements, the Board shall proceed with such additions, alterations or improvements, and shall assess all Unit Owners for the costs thereof, as a Common Expense, subject, however, to the provisions of Sections 6.1 and 6.3. 6.16. Additions or Improvements by Unit Owners. No Unit Owner shall make any addition, alteration or improvement in or to his Unit which impairs the structural integrity or mechanical systems or lessens the support of any part of the Condominium. No Unit Owner shall make any addition, alteration or improvement which affects the exterior portion or outward appearance of such Unit, without the prior written consent thereto of the Board. The Board shall have the obligation to answer any Written request by a Unit Owner for approval of a proposed addition, alteration or improvement in or to such Unit Owner's Unit within 30 days after such request, and failure to do so within the stipulated time shall constitute a consent by the Board to the proposed addition, alteration or improvement. 6.17. Use of Common EIements and Facilities. A Unit Owner shall not interfere with the use of the Common Elements by the remaining Unit Owners and their employees, guests, agents, servants, Iessees, invitees, or contractors. 6.18. Conveyance or Encumbrance of Common Elements. All or portions of the Common EIements may be conveyed or subjected to a security interest by the Association in accordance with the provision of Section 47C-3-112 of the Act. 6.19. Right of Access. Unit Owner shall grant a right of access to his Unit to the managing agent and/or any other person authorized by the Board or the managing agent, for the purpose of making inspections or for the purpose of correcting any condition originating in his Unit and threatening another Unit or a Common Element, or for the purpose of performing installations, alterations or repairs to the mechanical or electrical services or other Common Elements in his Unit or elsewhere in the Buildings, or to correct any condition which violates the provisions of any mortgage covering another Unit, provided that requests for entry are made in advance, and that any such entry is at a time reasonably convenient to the Unit Owner. In the case of an emergency, such right of entry shall be immediate, whether or not the Unit Owner is present at the time such request for entry is made, and whether or not such entry is at a time reasonably convenient to the Unit Owner. C:1Documents and SettingsldfowlerlLocal SettingslTemporary Internet Files\OLKFIReviscd Belle Vista Bylaws 4-25-061,DOC 17 6.20. Rules of Conduct. Rules and Regulations concerning the use of the Units and the Common Elements may be promulgated and amended by the Board. Such Rules and Regulations shall be equally applicable to all Unit Owners and shall be uniform in their application and effect. Copies of such Rules and Regulations shall be furnished by the Board to each Unit Owner prior to their effective date. 6.21. Remedies Cumulative. All rights, remedies and privileges granted to the Association or the Unit Owner or Unit Owners of a Unit pursuant to any terms, provisions, covenants or conditions of the Condominium Documents shall be cumulative, and the exercise of any one or more shall not constitute an election of remedies, nor shall it preclude the party thus exercising the same from exercising such other and additional rights, remedies or privileges as may be available to such party at law or in equity. 6.22. Nonwaiver of Remedies, (a) The failure of the Association or any Unit Owner to enforce any right, provision, covenant or condition which may be granted by the Condominium Documents shall not constitute a waiver of the right of the Association or the Unit Owner to enforce such right, provision, covenant or condition in the future. (b) The failure of Declarant to enforce any right, privilege, covenant or condition which may be granted to it by the Condominium Documents shall not constitute a waiver of.the right of Declarant to thereafter enforce such right provision, covenant or condition in the future. (c) The failure of a First Mortgagee to enforce any right, provision, privilege, covenant or condition which may be granted to it or them by the Condominium Documents shall not constitute a waiver of the right of said party or parties to thereafter enforce such right, privilege, covenant or condition in the future, ARTICLE VII RECORDS AND AUDITS 7.1. Reports. The Board shall keep detailed records of the actions of the Board and the managing agent minutes of the meetings of the Board, minutes of the meetings of the Association, and- financing records and books of account of the Condominium, including a chronological listing of receipts and expenditures, as well as a separate account for each Unit which, among other things, shall, contain the amount of each Assessment against each Unit, the date when due, the amounts paid and the balance remaining unpaid. A current copy of the Declaration, Articles of incorporation of the Association, these Bylaws, any currently effective Rules and Regulations, and the Association's books, records and financial statements shall be available for examination by all Unit Owners, their duly authorized agents or attorneys, and all holders, guarantors, or insurers of First Mortgages secured by Units, their attorneys and authorized agents, at convenient hours during normal business hours that shall be set and announced for general knowledge. A written annual summary of all receipts and expenditures of the Condominium shall be rendered by the Board to all Unit Owners on or before the 15th day of the second month following the close of each fiscal year. In addition, an annual report of the receipts and expenditures of the Condominium shall be rendered by the Board to all Unit Owners C:1Documents and Settingsld rowler\Local Settings\ emporary Internet !: i les\OLKF\Reviscd Belle Vista Bylaws 4-25-061.DOC 18 and to all Eligible Mortgage Holders who have requested the same, promptly after the end of each fiscal year. 7.2. Common Expense Funds. All sums collected by the Association, either as Assessments for the Common Expenses or as Special Assessments may be commingled in a single fund, but they shall be held for the Unit Owners for the purposes for which they are paid, and shall, subject to the right of withdrawal or refund provided herein, be credited to accounts from which shall be paid the charges for which the Assessments are made. Such accounts shall include the following, or such other and further accounts as the Board from time to time shall determine: (a) General Common Expense Account to which shall be credited collection of that portion of the Common Expense Assessments received for defraying the costs of operating the Condominium on a day to day basis, including normal maintenance and repairs, insurance and related charges; and (b) CapitaI Reserve Account to which shall be credited, all sums collected which are to be allocated for capital expenditures for the reconstruction, repair and replacement of Common Elements at a future date. All sums collected by the Association during the fiscal year, either as assessments of the Common Expenses or as special assessments, and allocated to the General Common Expense Account or to any other account from which non -capital expenditures may be made, in excess of expenditures during such fiseal year made from or chargeable to said account or accounts shall be deemed contributions to capital at the end of said fiscal year, and shall be transferred to the Capital Reserve Account. All amounts credited to said Capital Reserve Account shall be contributions to capital, and shall be held in trust by the Association for future expenditures of a capital nature, and shall serve to reduce the Assessments required for said capital expenditures. 7.3. Audits. All books of account and financial records shall be kept in accordance with good and acceptable accounting practices. ARTICLE VIII AMENDMENTS TO BYLAWS 8.1. Notice. Notice of the subject matter of a proposed amendment shall be included in the notice of a meeting at which a proposed amendment is to be considered. 8.2 Adoption. A resolution for the adoption of a proposed amendment may be proposed either by a majority of the Board or by not less than one third of the members of the Association. Directors and members of the Association not present in person or by proxy at the meeting considering the amendment may express their approval in writing provided that such approval is delivered to the Secretary at or prior to the meeting. The approval must be by not less than a majority of the votes of members of the Association represented at a meeting at which a quorum has been attained. 8.3. Limitation. No amendment may be adopted which would eliminate, modify, prejudice, abridge, or otherwise adversely affect any rights, benefits, privileges or priorities C:1Documents and ScttingsldfowlerlLocal SettingslTemporary Internet Files\OLKrlRevised Belle Vista Bylaws 4-25-061.DOC 19 granted or reserved to the Declarant or Eligible Mortgage Holders without the consent of said Declarant and Eligible Mortgage Holder in each instance. No amendment shall be made that is in conflict with the Articles of Incorporation of the Association or Declaration without satisfaction of the requirements therein contained, So long as the Declarant controls the Association and the Veterans Administration holds or insures any First Mortgage on a Unit, the Veterans Administration shall have the right to veto any amendment to the Bylaws, No amendment to this Section shall be valid. 8.4. Execution and Recording. A copy of each amendment shall be attached to a certificate certifying that the amendment was duly adopted as an amendment to the Declaration and Bylaws, which certificate shall be executed by the President or Vice President and attested by the Secretary or Assistant Secretary of the Association with the formalities of a deed, or by the Declarant alone if the amendment has been adopted consistent with the provisions of the Declaration allowing such action by the Declarant. The amendment shall be effective when the certificate and a copy of amendment is recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina. ARTICLE IX CONDEMNATION 9.1. General. Whenever all or any part of the Condominium Property shall be taken by any authority having the power of condemnation or eminent domain, each Unit Owner and all Eligible Mortgage Holders shall be entitled to notice thereof and to participate in the proceedings incident thereto unless otherwise prohibited by law. The award made for such taking shall be payable to the Association. Unless otherwise provided by law at the time of such taking, any award made therefor shall be disbursed by the Association as provided in this Article IX 9.2. Common Elements. If the taking is confined to the Common Elements (general or limited) on which improvements shall have been constructed, and at least 80% of the total vote of the members of the Association entitled to vote shall vote within 60 days after such taking to replace the improvements, or any part thereof, on the remaining land included in the Common Elements (general or limited) and according to the plans therefor first approved by the Association, then the Board shall arrange for such replacement and the Association shall disburse the proceeds of such award in the same manner as they are required to disburse insurance proceeds where damage or destruction to the Common Elements (general or limited) is to be repaired or reconstructed as provided for herein; subject, however, to the right hereby reserved to the Association to provide by a majority vote of the Voting Members, for the disbursement by the Association of the remaining proceeds held by it (after the payment of all costs incident to such replacement) to the Unit Owners, or to any one or more of them or to their institutional lenders as their interests may appear in amounts disproportionate to their percentages of undivided interest in the Common Elements (general or limited) established herein, which disproportionate amounts shall correspond with the disproportionate damage sustained by the Unit Owners or any one or more of them as the Association may determine. If at least 80% of the Voting Members shall not decide within 60 days after such taking to replace said improvements, or if the taking is confined to the Common Elements (general or limited) on which no improvements shall have been constructed, then the Association shall disburse the proceeds of the award provided for the disbursement of the remaining proceeds of an award after payment of all costs incident to replacement of improvements taken has been made, including the right C:lDocuments and SettingsldfowleriLocal Settings\Tcmporary Internet Files\OLKF1Revised Belle Vista Bylaws 4-25-061.DOC 20 reserved to the Association to provide for the disbursement of the remaining proceeds held by it to the Unit Owners in disproportionate amounts. All disbursements made under this Section 9.2 shall be in strict compliance with Section 47C-1-107 of the Act. 9.3. Units. If the taking includes one or more Units, or any part or parts thereof, whether or not there is included in the taking any part of the Common EIements (limited or general), then the award shall be disbursed and all related matters shall be handled pursuant to and in accordance with the consent of all Unit Owners and First Mortgagees affected, and thereafter the Board shall reallocate that Unit's Allocated Interests in a duly recorded amendment to the Declaration of Condominium in accordance with Section 47C-1-107 of the Act. 9.4. Termination. The Board shall call a meeting of all Unit Owners at least 45 days prior to any final taking by the condemning authority to determine the action to be taken pursuant to Sections 9.2 and 9.3 above. Except in the event of a taking of all the Units by eminent domain, in the event the condemnation involves more than 10% of the value of the Common Elements (limited or general) and/or more than 15% of the total value of all Units, the Condominium may be terminated at such meeting by written approval of not less than 80% of the Voting Members. Any termination agreement shall. be in compliance with 47C-2-118 of the Act. ARTICLE X MISCELLANEOUS 10:1. Ad valorem Taxes. Each Unit shall be deemed to be a separate parcel and shall be separately assessed and taxed. Each Unit Owner shall be liable solely for the amount of tax assessed against his Unit and shall not be affected by the consequences resulting from the tax delinquency of other Unit Owners. Alt tangible personal property owned by the Association in connection with the maintenance, upkeep and repair of the Common Elements shall be listed for said taxes in the name of and paid by the Association. Each Unit Owner is also responsible for his pro rata share of taxes assessed on his portion of the Common Elements, if any. 10.2. Notification to Mortgagee . Any Unit Owner who mortgages his Unit shall notify the Association of the name and address of the mortgagee, and the Association shall maintain such information in a book entitled "Mortgagees of Condominiums." In addition to any other notification provided for in the Declaration or these Bylaws, the Association may, at the written request of a mortgagee of any such Unit, report any unpaid assessments due from the Unit Owner of such Unit. The Association shall notify each mortgagee appearing in said book of the name of each company insuring the Condominium Property under the master policy and the amounts of the coverages thereunder. 10.3. Severability. Invalidation of any covenant, condition, restriction or other provision of the Declaration or these Bylaws shall not affect the validity of the remaining portions thereof which shall remain in full force and effect. 10.4. Successors Bound. The rights, privileges, duties and responsibilities set forth in the Declaration or these Bylaws, as amended from time to time, shall run with the ownership of the Property and shall be binding upon all persons who own or hereafter acquire any interest in the Property. C:\Documents and SeuingsldfowlerlLocal SettingslTemporary Internet I=i1cs\OLK[ Revised Belle Vista Bylaws 4-25-06l.DOC 21 10.5. Gender, Singular, Plural. Whenever the context so permits, the use of the singular or plural shall be interchangeable in meaning and the use of any gender shall be deemed to include all genders. 10.6. Principal Office; Registered Office. The initial principal office and registered office of the Association shall be located at 11121 Carmel Commons Boulevard, Suite 450, Charlotte, North Carolina 28226. 10.7. Other Offices. 'Tie Association may have other offices at such other places within North Carolina as the Board may from time to time determine or as the affairs of the Association inay require. 10.8. Seal. The seal of the Association shall contain the name of the Association, the word "Seal," the state of incorporation and such other words and figures as are desired by the Board. When obtained, the seal shall be impressed in the margin of this Section of the Bylaws. 10.9. Fiscal Year. The fiscal year of the Association shall be the calendar year. 10.10. Distribution of Assets upon Dissolution. Upon dissolution of the corporation the assets thereof shall, after all liabilities and obligations of the corporation have been paid, or adequate provision made therefor, be dedicated to an appropriate public agency to be used for purposes similar to those for which the corporation was created or, in the event that such dedication is refused acceptance, distributed to any association or associations organized for purposes similar to those set forth herein. Approved this 25th day of April, 2006. D:\Revised Belle Visin Bylaws 4-25-06.doc 22 FILE COPY FILED FOR REGISTRATION DATE Jf31, &( ,STAMPS DECLARATION OF BELLE VISTA COND©MINIU 72o TIME PAGE I'EC FEE JUUITH A. GIESN REGISTER OF DEEDS MECKLENGURG COUNTY, NC Filed for Record February 13, 2004 Recorded in Book f (i7f 0, Pages 17.5 through 3 Y4 In the Office of the Register of Deeds for Mecklenburg County, North Carolina Consisting of 31 Numbered Pages with Attached Exhibits A, A-1, B, C, D, E and F Prepared by and after recording mai HORACK, TALLEY, PHARH & LOWNDES, P.A. +(HDP) RD BOX NO. 194 2600 One Wachovia Center 301 South College Street Charlotte, North Carolina 28202-6038 I ITPL : 212370,2 • • TABLE OF CONTENTS TO DECLARATION OF BELLE VISTA CONDOMINIUM Page RECITALS .1 ARTICLE I DEFINITIONS' 2 ARTICLE II SUBMISSION BY DECLARANT OF THE PROPERTY TO THE ACT 6 2.1. SUBMISSION. 6 7.7. NAME OF CONDOMINIUM. 6 2.3. NAME OF ASSOCIATION. 6 /A. GENFRAL DESCRIPTION OF THE REAL ESTATE. 6 2.5. DIVISION OF PROPERTY INTO SEPARATELY OWNED UNITS. 6 /.6. ALTERATIONS OF UNITS. 6 2.7. DESCRIPTION OF UNITS, 6 2.8. USE. or COMMON ELEMENTS 7 2.9. LIMITED COMMON ELEMENTS. 7 2. I O. ALLOCATED INTERESTS. 7 2. I I. NATURE OF INTEREST IN UNITS. 7 2.12. SEPARATE TAX LISTINGS. . , 8 2.13. UNIT OWNER'S RIGHTS AND DUTIES. 8 2.14 TITLE EXCEImoNS - - ' 8 ARTICLE III RESERVATION OF SPECIAL- DECLARANT RIGHTS AND THE RIGHT TO ADD ADDITIONAL PROPERTY 8 3.1. RESERVATION OF SPECIAL DECLARANT RIGHTS. 8 3.2. TRANSFER OF SPECIAL DECLARANT RIGHTS. 8 3.3. DECLARANT'S RIGHT TO ADD ADDITIONAL PROPERTY. 8 3.4. MAXIMUM NUMBER OF ADDITIONAL UNITS; UNITS RESTRICTED TO RESIDENTIAL USE. 8 3.5. COMPATIBILITY OF STYLE. 8 3.6. APPLICABILITY OF RESTRICTIONS. 9 3.7. OTHER IMPROVEMENTS AND COMMON ELEMENTS. 9 3.8. A PPL1CABIUTY OF ASSURANCES IF ADDITIONAL PROPERTY NOT ADDED. 9 3.9. ALLOCATION OF INTEREST. 9 ARTICLE IV GRANT AND RESERVATION OF EASEMENTS AND LICENSES 9 4.1. ENCROACHMENTS. 9 4.2. EASEMENTS THRODGI I WALLS. 9 4.3: EASEMENTS TO REPAIR, MAINTAIN, R FiSTORE AND REcoNsTiturr. 10 44. EASEMENTS EOR UTrisriEs. 10 4.5. DECLARANT' s EASEMENT. 10 4.6. CERTAIN Riot rrs OVER ADJOINING PROPERTIES. I I 1 ITN.: 212370.2 4.7. EASE.MENTS TO RUN WITH LAN.D. 11 ARTICLE V RESTRICTIONS, CONDITIONS AND COVENANTS 11 5..1. COMPLIANCE WITI I DECLARATION, BYLAWS AND RULES AND REGULATIONS. 11. 5.2. A DMINiSTRATION OE CONDOM INI UM. - 12 • 5.3. RESTRICTIONS ON USE, OCCUPANCY AND ALIENATION 12 5.4. LEASING OF UNITS. 14, 5.5. • USE BY DECLARANT. 16 5.6. 1 IAZA RDOUS USE AND WASTE. 16 5.7: PRoilimiloNs ON USE OF COMMON ELEMENTS 16 5.8. NUISAkliti. 17 5.9. PARKING. 17 5.10. LAWFUL USE 17 5.11. RULES AND REGULATIONS. 17 5.12. ENFORCEMENT. 17 5.13. LIENS 18 ARTICLE VI ASSESSMENTS POR COMMON EXPENSES 18 6.1. ASSESSMENT LIENS. 18 6.2. PERSONAL LIABILITY OF TRANSFEREES: STATEMENT: LIABILITY OF FIRST MORTGAGEE. 18 6.3. PROHIBITION OF EXEMPTION FROM LIABILITY FOR CONTRIIIUTION TOWARD COMMON EXPENSES. 19 6.4 DATE OF COMMENCEMENT OF ANNUAL ASSESSMENTS. 19 6.5. WORKING CAPITAL. 19 6.6. LIMITATIONS ON USE OF ASSESSMENTS. 19 ARTICLE yik MANAGEMENT, MAINTENANCE, REPAIRS,REPLACEMENTS, ALTERATIONS AND IMPROVEMENTS TO THE CONDOMINIUM 19 • 7.1. COMMON ELEMENTS. 19 7.2. COMMON EXPENSES ASSOCIATED WITH LIMITED COMMON- ELEMENTS OR BENEFITING LESS THAN ALL UNITS. 20 7.3. UNITS 20. 7.4. 7.4. WAIVER OF CLAIMS. 20 7.5. Ricifr OF ENTRY. 20 7.6. ARCHITECTURAL CONTROL. 21 7.7. SAFETY OF UNIT OWNERS. 21 ARTICLE VIII INSURANCE 22 8.1. GENERAL. 22 8.2. RESPONSIBILITY FOR OBTAINING COVERAGE. 22 8.3. TYPES OF COVERAGE. 22 8.4. PREMIUMS TO BE COMMON EXPENSE. 23 8.5. POLICY PROVISIONS. 23 8.6. INSURANCE TRUSTEE 23 8.7. INSURANCE UNAVAILABLE. 24 8.8. INDIVIDUAL POLICY FOR UNIT OWNERS. 24 ARTICLE IX CASUALTY DAMAGE 24 9.!. DUTY TO REPAIR. 24 • 9.2. DISPOSITION OF INSURANCE PROCEEDS IN TI1E EVENT.CASUALTY DAMAGE NOT. REPAIRED. 24 ARTICLE X TERMINATION OF THE CONDOMINIUM; CONDEMNATION; AMENDMENT OF THE DECLARATION 25 IITPL: 212370.2 i i . Fo,i. TERMINATION. 25 10.2..CONDEMNAT1ON. 25 • 10.3. AMENDMENT. ARTICLE XI MORTGAGEE PROTECTION 25 I I: 1. INTRODUCTION: 25 142. NOTICE OF ACTIONS •25 11.3. CONSENT REQUIRED. • 28 11.4. NoTIct, • 28 .5. INSPECTION OF BOOKS. 29 11.6. ENFORCEMENT. 29 ARTICLE XII PROVISIONS RELATING TO THE ASSOCIATION ". 12.1. CREATION OF ASSOCIATION. 29 12.2. BYLAWS. 29 12.3. ALL UNITS BOUND. 29 12.4. DtrriEs AND POWERS. 29 12.5. SUPERIORITY OF BALLANTYNE JOINT COMMITTEE, INC. 29 12,6. DECLARANT CONTROL PERIOD. 30 • ARTICLE XIII GENERAL PROVISIONS 30 13.1. CONFLICT WITH THE ACT 30 13.2. iNTERPREICATION OF DECLARATION. 30 • • 13.3. CAPTIONS. 30 13.4. EXHIBITS. 30. 13.5. INVALIDITY. 30 13.6. WAIVER_ 31 • 133. LAW CONTROLLING. 31 716961/3 I1TPL: 212370.2 • DECLARATION OF • BELLE VISTA CONDOMINIUM . • THIS -DECLARATION, made this .I Lt' day of 'February, 2004, by PULTE HOME CORPORATION, a•Michigan corporation (hereinafter referred to as the "Declarant"), for itself, its . successors and assigns, pursuant to the provisions of Chapter 47C of the North Carolina General Statutes, entitled.the North Carolina Condominium Act ("Act"). .RECITALS Declarant is the owner in fee simple of certain real property situated in the County of Mecklenburg. and State ofNorth Carolina, more particularly described on Exhibit A attached hereto and made a part hereof, together with -all buildings and improvements now or hereafter constructed or located thereon, and all rights, privileges, easements and appurtenances belonging to or in.any way pertaining to said real property; and Declarant desires and intends, by the filing of this Declaration, to submit the above described property, the buildings located thereon and all other improvements constructed thereon, together with all appurtenances thereto, to the provisions of the North Carolina Condominium Act; *Declarant does hereby submit the property described in Exhibit A -to the provisions of the Act, and does hereby publish and declare that all of the subsequently defined Property is held and shall be held, conveyed, hypothecated, encumbered, used, occupied and improved, subject to the. following covenants, conditions, restrictions, uses,- limitations and obligations, all of which are declared and agreed to be in furtherance' of a plan for the improvement •of said property and the division thereof into condominium units, and shall be deemed to run with the land, and shall. be a burden and.beneftt to the Declarant, its successors and assigns, and.any parties acquiring and owning an interest in the 'real property and improvements, their grantees, successors. heirs, executors, administrators, devisees and assigns. The Property is part of a larger planned unit development known as "Ballantyne" and is subject to the "Community Declaration" (as that term is herein defined). The Unit Owners (as that term is herein defined) shall have certain easement rights to use certain common elements in `Ballantyne Commons" and, therefore, shall also share certain expense obligations with regard to the maintenance of these common elements as set out in the "Easement Agreement" (as that term is herein defined). For these reasons, Declarant intends for the Condominium to be subject not only to the terms and conditions of this Declaration, but also to the terms and conditions of the Community Declaration and Easement Agreement. !all,: 212370.2 1 ARTICLE I DEFINITIONS In addition to the.ternzs defined above; certain terms, as used in this Declaration and the exhibits attached .hereto and made a part hereof, shall be defined as follows, unless the context clearly indicates a different meaning therefor: 1.1. "Act" or "Condominium Act" shall mean the North Carolina Condominium Act, Chapter 47C oldie North Carolina General Statutes, as in effect as of the date of the filing of this Declaration. 1.2. "Additional Property" shall mean the property described in Exhibit A-1, together with all buildings and improvements now or hereafter constructed or located thereon, and all rights, privileges, easements, and appurtenances belonging to or in any way pertaining to said property. 1.3. "Allocated Interests" shall mean the undivided interests in the Common Elements, common expense liability, and the votes in the Association allocated to each Unit. 1.4. "Articles of Incorporation" shall mean the Articles of Incorporation of the Association attached as Exhibit F.' • 1.S. "Association" shall mean Belle Vista Condominium Owners Association_ Inc., a nonprofit corporation organized under Section 47C-3-1 01 of the Act. 1.6. "As'sessment" shall mean a share ofthefunds required for the payment of Common ' Expenses which from time to time is assessed against the Unit Owners, and such additional sums which may be assessed directly against one or more Unit Owners alone. 1.7. "Ballantyne Commons" shall mean the totality of the real property that comprises the "Common Elements" within the meaning of the Townhome Declaration. (The "Ballantyne Commons" are separate and distinct from the Common Elements, as that term is defined in this Declaration.) 1.8. "Board" shall mean the Executive Board of the Association. 1.9. "Building(s)" shall mean the structure(s) erected upon the Property. 1.10. "Bylaws" shall mean the Bylaws of the Association attached as Exhibit E. 1.11. "Common Elements" shall mean all portions of the Condominium except the Units. All "Limited Common Elements" shall be part of the Common Elements. Ifl'PL: 212370,2 2 1%12. "Common Expense(s)" shall mean expenditures made or liabilities incurred by or on behalf of the Association, together with any allocations to reserves. The obligations of the Condominium under the Community Declaration and under the Easement Agreement are Common Expenses. 1.13. "Common Expense Liability" shall mean the liability for common expenses "allocated to each Unit pursuant to Section 47C-2-107 of the Act. 1.14. "Condominium" shall mean the condominium created by this Declaration. 1.15. "Condominium Documents" shall mean this Declaration and all of the exhibits hereto and the Articles of Incorporation for the Association, as the same shall -from time to time be. amended. - 1.16. "Community Declaration" shall mean• that- certain Declaration of Covenants, Conditions and Restrictions for Ballantyne, dated November 1, 1993, recorded in Deed Book 07524, Page 1, in the Mecklenburg County Public Registry. 1.17. "Declarant" shall mean Pulte Home Corporation; a Michigan corporation, and (i) any other person who has executed this Declaration, or who hereafter executes an amendment to this Declaration to .add Additional Property, except institutional lenders and except persons whose interests in the Property will not be conveyed to Unit Owners, and (ii) any person who succeeds. to any Special Declarant Rights. 1.18. "Declarant Control Period" shall mean the period dtiring which Declarant, or persons designated by it, may appoint and remove the officers and directors of the Board. The period of Declarant control shall commence with the filing date ofthis Declaration and continue until the earlier of the following five dates: (i) the date two years after Declarant has ceased to offer Units for sale in the ordinary course of business, (ii) the date upon which Declarant voluntarily, in writing, surrenders control of the Condominium, (iii) the date 120 days after the Declarant has conveyed 75% of the Units (including units which may be created pursuant to Special Declarant Rights) to Unit Owners other than a Declarant, or (iv) the date two years after any development right to add new Units was last exercised by Declarant. 1.19. "Declaration" shall mean this document and any amendments to this document. • 1.20. •"Easement Agreement" shall mean that certain Deed of Conveyance and Declaration of Easements dated October 8, 2003, by and between Pulte Home Corporation and Ballantyne Commons Townhomes Association. Inc., recorded in Deed Book 16271, Page. 877, in the Mecklenburg County Public Registry. Ifrt'L: 212370.2 3 • 1.21 "Eligible Mortgage Holder" shall mean each First Mortgagee who has requeste.dthe Association to notify it of any proposed action that requires the consent ofa specified perdentage of Eligible Mortgage Holders pursuant to Section 1 1.4 hereof. 1.22. "First Mortgage" shall mean a mortgage or deed of trust which has been recorded . so as to give constructive notice thereof, and which is a first lien on the Units or Units described therein. 1.23. "First Mortgagee" shall mean a holder, from time to time, of a First Mortgage as shown by- the records of the Office of the Register of Deeds for Mecklenburg County, North Carolina, in which the First Mortgage is recorded, and including a purchaser at foreclosure sale upon foreclosure ofa First Mortgage until expiration of the mortgagor's period of redemption. If there shall be more than one holder ofa First Mortgage, they shall be considered as, and act as, one First Mortgagee for all purposes under this Declaration and the Bylaws. 1.24. "HUD/VA" shall refer to the U.S. Department of Housing and Urban Development, and/or the Veterans Administration, and any governmental authority which succeeds said organizations. 1.25. "Identifying Number" shall .mean the address which identifies each Unit in the Condominium. I.26. "Joint Committee" shall mean Ballantyne Joint Committee, [nc., a North Carolina non-profit corporation. 1.27. "Lessee" shall mean the party entitled to present possession ofa•leased Unit whetheir lessee, sublessee, or assignee, together With their employees, agents, and invitees. • 1.28. "Limited Common Elements" shall mean those portions of the Common Elements allocated by this Declaration or any amendments hereto, the PIans or by operation of Section 47C-2- 102(2) or (4) of the Act for the exclusive use of one or more, but fewer than all, of the Units. That portion of the:Property upon which heating and air conditioning equipment serving a Unit is located shall constitute a Limited Common Element allocated specifically to the Unit served by such equipment. Additionally, the hallways, stairs and elevators in each Building shall be considered Limited Common Elements for the exclusive use of the Units in the Building. 1.29. "Occupant" shall mean any person or persons in possession ofa Unit, including Unit Owners, Lessees, employees, agents, and invitees of such_person or persons. 1.30. "Person" shall mean a natural person, corporation, business trust, estate, trust, . •partnership, association, joint venture, limited liability company, subdivision or agency or other legal or commercial entity, p y' government, governmental ITPL: 212370.2 4 1.31. "Plans" shall mean the plans of the Condominium recorded with, and by the Act made a part of, this Declaration, as the same may hereafter be amended, and described on Exhibit C. I.32.. "Plat" shall mean the survey plat depicting the Condominium and the location of the Buildings on the•Property recorded with, and by the Act made a part of, this Declaration, as the same may later be amended, and described onfExhibit C. • 1.33. "Property" shall mean the real property described on Exhibit A, together with the buildings and improvements now or hereafter constructed or. located. thereon, and all rights, privileges, easements and appurtenances belonging to or in any way pertaining thereto, and all articles of personal property intended for common use.in.connection therewith. The term "Property" • shall also mean and include all portions of the Additional Property as may be added to the • Condominium pursuant to Paragraph 3.3 of this Declaration. 1.34. "Residence" shall mean Unit. 1.35. "-Residential Purposes" means use for dwelling purposes. 1.36. `.`Rules and Regulations" shall mean the rules and regulations of the Condominium as -promulgated by the Board from time to time. 1.37. "Special Declarant Rights" shall mean rights reserved • for. the benefit of the Declarant herein pursuant to the.provisions-of Section 47C-2-105(a)(8) of the Act and defined in Section 47C-1-103(23) of the Act, including but not limited to the following: to complete the improvements indicated on'the Plans; to exercise any development -right, including.the right'to add additional property or withdraw portions of property from the Condominium, as defined in Section 47C-2-110 of the Act; to maintain, pursuant to Section 47C-2-115 of the Act, sales offices, management's offices, signs advertising the Condominium, and models; to use, pursuant to Section 47C-2-116 of the Act, easements through the Common Elements for the purpose of making improvements within the Condominium; to make, pursuant to Section 47C-2-121 of the Act, the Condominium a part of a larger condominium; or to appoint or remove pursuant to Section 47C-3- 103(d) of the Act, any officer or director of the Association or any Board Member during any period of Declarant control. 1.38. "Townhome Association" shall mean the Ballantyne Commons Townhomes Association, Inc., a North Carolina non-profit membership corporation. 1.39. "Townhome Declaration"shall mean that certain Declaration of Covenant's and Restrictions for Ballantyne Commons Townhomes made by Pulte Home Corporation, dated April 30, 2001, recorded in Deed Book 13178, Page 861, Mecklenburg County Public Registry. I I'f Pl.: 212370.2 5 1.40. "Unit" shall mean a portion of the Condominium designated for separate ownership or occupancy, whether or not contained solely or partially within a Building, together with its percentage of undivided interest in the Common Elements as set forth on Exhibit D. Each Unit is designated and delineated'on the Plans. . 1.41. "Unit Owner" shall mean the Person or Persons, including the Declarant, owning a Unit in fee simple. A Person having an interest in a Unit solely as security for an obligation shall not be considered a Unit Owner. ARTICLE II SUBMISSION BY.DECLARANT OF THE -PROPERTY TO THE ACT 2.1. Submission. Declarant hereby submits the Property to the Act. 2.2. Name of Condominium. The Property shall hereafter be known as Belle Vista Condominium- 2.3. Name of Association. The name of the association of Unit Owners shall be known as "Belle Vista Condominium Owners Association, Inc." - 2.4. General•Description of the Real Estate. The real estate included in the Condominium is described andidentified" on Exhibit A, attached hereto and made a part hereof. ' 2.5. Division of Property into Separately Owned Units. Declarant, pursuant to the Act, _ and to establish a plan of condominium ownership for the Condominium, does hereby divide the Property into Units and -does hereby designate all such Units for separate ownership, 'subject ' however, to the provisions of Section 2.6 relating to alteration of Units. • • 2.6. Alterations of Units. Subject to the provisions of the Bylaws, a Unit may be altered pursuant to the provisions of Sections 47C-2-1 I 1, 47C-2-112, and 47C-2-113 of the Act. 2.7. Description of Units. The Plat showing the location of the Buildings on the Property and the Plans describing the particular details of the Buildings, are attached hereto and made a part hereof as Exhibit C, which Plat and Plans depict all the relevant particulars of the Condominium, including the layout, the number of Units, the location of each Unit and its Identifying Number, dimensions, ceiling and floor elevations and the locations of the Limited and general Common Elements appurtenant to and affording access to each Unit. (a) The Identifying Number of each Condominium Unit and other data concerning its proper identification are set forth in Exhibit D, attached hereto and made a part hereof. (b) Each Unit shall constitute a single freehold estate and shall consist of all of' the space within the living quarters bounded by the undecorated and/or unfinished interior surfaces I ITPL: 212370.2 6 of its perimeter walk, exterior doors and exterior windows facing the interior of the Unit, the undecorated surfaces of the ceiling facing the interior of the Unit, and the topmost surfaces of the- subflooring. Each Unit includes those portions of the Building within such boundaries, and the space so encompassed, including without limitation, the decorated surfaces, including paint, lacquer, varnish. wallpaper, paneling, tile, carpeting and any other furnishing or decorative materials applied to interior walls, doors, floors and ceilings, and interior surfaces of permanent- walls, windows, doors; Boors and ceilings, except that no pail or the Common -Elements shall be considered part of a Unit. Each Unit shall. -include those portions of the heating and air conditioning system for the Unit which are located within the perimeter wails of the Unit and which exclusively serve the Unit, wherever situated. • 2.8. Use of Common Elements. Each Unit Owner shall have the right to use the Common Elements, with the exception of the limitations set forth in Section 2.9, in accordance with the purposes for which they are intended, and for all purposes incident to the use and occupancy ofthe Unit Owner's Unit, including unrestricted ingress and egress to and from the Unit Owner's Unit, and such right shall be appurtenant to and 'run with the Unit; provided, however, that no person shall use the Common Elements or any part thereof iri such a manner as to interfere with or restrict or impede their use by others entitled to there .use, or in any manner contrary to or not in accordance with this Declaration,.theCommunity.Declaration,.Bylaws, and the Rules and Regulations. . 2.9_ Limited Common Elements. The Limited Common Elements, as defined above in Article I, and in Sections 47C-2-102(2) and 47C-2-102(4) ofthe Act, serving or designed to serve a particular Unit are hereby allocated solely and exclusively to each such Unit. - 2.10. Allocated Interests. The allocations to each Unit of a percentage of undivided interest in the Common Elements and of a percentage of Common Expenses are as stated on Exhibit D. The allocation of the undivided interests in the Common Elements and of the Common Expenses has been determined by a formula that takes into consideration the number of bedrooms (or rooms that could be used as bedrooms) that are contained in each Unit in relation to all other Units 4s well as the relative sizes of the Units based on square footage. The votes are equally allocated to all Units with each Unit Owner having one (1) vote for each Unit owned. 2.11. Nature of Interest in Units. Every Condominium Unit, together with its undivided Allocated Interest in the Common Elements, shall for all purposes be, and it is hereby declared to be and to constitute, a separate parcel of real property, and the Unit Owner shall be entitled to the exclusive ownership in fee simple and possession of the Unit Owner's Unit, subject only to the covenants, restrictions, easements, Bylaws, resolutions and decisions adopted pursuant hereto, and ag May. he contained herein and in the accompanying Rules and Regulations. The percentage •of• undivided interest in the Common Elements of each Unit shall not be separated from the Unit to which it appertains, and shall be deemed to be transferred with the Unit, even if such interest is not expressly mentioned or described in the conveyance, encumbrance, release or other instrument tfTPL: 212370.2 7 transferring such Unit. Any conveyance, encumbrance, judicial sale, or other transfer (voluntary or involuntary) of an Unit Owner's percentage interest in the Common Elements shall be void unless the.Unit to which that interest is allocated is also transferred. 2.12. Separate Tax Listings. Every Unit, together with its undivided 'interest in the Common Elements, shall' be separately assessed and taxed by each assessing unit for all types of taxes authorized by law. Each Unit Owner shall be liable solely for the amount of taxes against his individual Unit. 2.13. Unit Owner's Rights and Duties. Each Unit Owner shall be subject to all the rights and duties assigned to Unit Owners under the terms of this Declaration and the Bylaws. When there are unsold units in the Condominium, the Declarant also enjoys the same rights and assumes the same duties as they relate to each individual unsold Unit. 2.14 Title Exceptions. The liens, defects and encumbrances affecting the Property to which the rights of Unit Owners and Occupants are hereby made subject are set out on Exhibit B hereto. ARTICLE III RESERVATION OF SPECIAL DECLARANT RIGHTS AND THE RIGHT TO ADD ADD1lTIONAL PROPERTY 3.1. Reservation of Special Declarant Rights. Declarant hereby reserves all Special Declarant Rights. Each of such rights may be exercised by Declarant within the fifteen year period immediately following the date of the recording of this Declaration, unless -a shorter period of time is required by the Act. 3.2. Transfer of Special Declarant Rights. All Special Declarant Rights provided in the Condominium Documents are transferable pursuant to Section 47C-3-104 of the Act. 3.3. Declarant's Right to Add Additional Property. Declarant expressly reserves the right to add the Additional Property to the Condominium. All or part of the Additional Property identified and described on Exhibit A -I may be added to the Condominium at different times, and no assurances are made in regard to the order in which such portions may be added. Declarant shall have no duty or obligation of any kind to add any or all of the Additional Property. The method of adding the Additional Property to the Condominium shall be pursuant to Section 47C-2-110 of the Act. 3.4. Maximum Number of Additional Units; Units Restricted to Residential Use. The maximum number of additional Units that may be created within the Additional Property is two hundred eighty (280) Units. All of such Units will be restricted exclusively to residential use. 3.5. Compatibility of Style. It is Declarant's present intent that any Buildings and Units that may be erected upon the Additional Property or a portion thereof will be compatible with the l flP E,: 2123 70.2 8 other Buildings in the Condominium in terms of architectural style, quality ofconstruction, and size. IUlowever, Declarant expressly reserves the right to change the•architectuial style and size of any Buildings and Units that may. be erected upon the Additional Property. 3.6. Applicability of Restrictions. All restrictions in this Declaration and the Bylaws affecting use, occupancy and alienation of Units will apply to -any and all additional Units that may be created within the Additional Property: 3.7. Other Improvements and Common Elements. In addition to the Buildings and Units that may be erected upon the Additional Property or a.portion thereof, the other improvements and Common Elements that may be made or created upon or within the Additional Property or any .portion thereof which may be added to the Condominium will be generally similar in quality and quantity to the improvements and Common Elements located in the Condominium. . 3.8: Applicability of Assurances if Additional Property Not Added. The assurances made in this Article III will not apply with respect to any Additional Property that is not added to the Condominium. In the event that Declarant shall not expand the Condominium. by the use of any portion of the Additional Property, Declarant shall_have the right to develop all or any portion of the. Additional Property without restriction. 3.9.Allocation ofInterest. If Declarant adds the Additional Property, or portions thereof, to the Condominium, the percentage interest of each Unit Owner in the Common -Elements and the Conunon Expenses will be determined in accordance with the formula identified in Paragraph 2.10 hereof. • ARTICLE IV GRANT AND RESERVATION OF EASEMENTS AND LICENSES 4.1. Encroachments. To the extent that any Unit or Common Element encroaches on any other Unit or Common Element, whether as the result of construction, reconstruction, repair, shifting, settlement, or other movement of any portion of the improvements, or otherwise, a valid easement for the encroachment exists, which easement shall continue for so long as each such encroachment exists. The easement does not relieve a Unit Owner of liability in case of the Unit Owner's willful misconduct. 4.2. Easements Through Walls. Easements are hereby declared and granted to the Association and to such persons as are authorized by the Association, to install, lay, maintain, repair, and replace any chutes, flues, ducts, vents, pipes, wires, conduits and other utility installations, and structural components running through the walls Of the Units, whether or not such walls Iie in whole or in part within the boundaries of any Unit. IITPL: 212370.2 9 4.3. Easements to Repair, Maintain, Restore and Reconstruct.•Wherever in, and whenever by, this Declaration, the Bylaws or the Act, a Unit Owner, the -Association, the Board, or any other person, is authorized to enter upon a Unit or the Common Elements to inspect, repair, maintain, restore, or reconstruct all or.any part of a Unit or the Common Elements, such easements as are necessary for such entry and such repair, maintenance, restoration or reconstruction are hereby + declared and granted. Damage occasioned by the exercise of such grant shall be promptly repaired at the expense of the party causing such damage. - 4.4. Easements for Utilities. The Units and Common Elements shall be, and are hereby made, subject to easements in favor of the Declarant (until Declarant shalt have satisfied all of its obligations•under the Declaration and Bylaws and all commitments in favor of any Unit Owner and the Association), the Association, appropriate utility and service companies and governmental agencies or authorities for such utility and service lines and equipment as may be necessary or desirable to serve any portion of the Property. The easements so provided for shall include, without limitation, rights of Declarant, the Association, any providing utility, any service company, and any governmental agency or authority and any of them to install, Jay, maintain, repair, relocate and replace gas lines, pipes and conduits, water mains and.pipes, sewer and drain lines, telephone wires arid equipment, television equipment and facilities (cable or otherwise), electrical wires, conduits and equipment and ducts and vents and any other appropriate equipment and facilities over, under, through, along and on the Units and Common Elements. Notwithstanding the foregoing -pro -visions, unless -approved in writing by the Unit Owner or Unit Owners affected thereby, any such easement through a Unit shall be located either in substantially the same.location as such facilities or similar facilities existed at the time of first conveyance of the Unit by the Declarant to a grantee other than the Declarant or so as not to materially interfere .with, the .use or occupancy of the Unit: by its Occupants. The Association shall have the authority to grant permits, licenses and easement over the 'Common Elements for the purposes recited'above, - 4.5. Declarant' s Easement. (a) Declarant hereby reserves such easements through the Common Elements as may be reasonably necessary for the purposes of discharging its obligations, exercising Special Declarant Rights, and completing the development and construction of the Condominium, which easements shall exist as long as reasonably necessary for such purpose. In addition to the easement in the foregoing sentence and the easements reserved elsewhere in this Article IV, Declarant hereby reserves an easement for vehicular and pedestrian ingress, egress, and regress, and for utility purposes, for the benefit of land adjoining the Condominium. The use of these easement rights shall be limited to the development of such adjoining tracts, the construction of improvements thereon, and the sale of such property as improved. Such rights shall expire after the accomplishment of such purposes. (b) Declarant, and its successors and assigns owning the Additional Property, or any portion thereof, shall have and does hereby reserve a perpetual nonexclusive right and easement of use of those portions of the Common Elements of the Condominium used as streets or driveways and of use of any and all water lines, sewer lines, storm water detention ponds, drainage easements, IfI'M: 212370.2 10 storm drains, electric, telephone, or cable television wires or conduits, gas lines, or similar utilities facilities that are a.part of the Common Elements, t'o-the extent reasonably necessary for Declarant, or such other Unit Owner of Additional Property, or a portion thereof, to have ingress and egress to • and from the Additional Property over the Common Elements, and to provide, if necessary, drainage facilities and utility services including sewer lines and the use of any storm water detention ponds: drainage easements,. storm drains and other drainage facilities to the Additional Property. These easements and rights may not be changed without the prior written consent of all parties entitled to the exercise of such easements and rights. 4.6. Certain Rights Over Adjoining Properties_ (a) As more fully provided for in the Easement Agreement, every Unit Owner has the right to travel upon the streets within Ballantyne Commons that provide access to and from the Condominium (identified in the Easement Agreement as the "Access Roads") and to use certain recreational facilities and park areas that are located within Ballantyne Commons (identified in the Easement Agreement as the "Recreational •Property"). The exercise of such right by every Unit Owheris subject to certain restrictions and limitations that are described in the Easement Agreement, including, without limitation, the right of the Townhome Association to promulgate and enforce . traffic rules in regard to the said Access Roads and "Rules and Regulations" (as that term is defined in ,the Easement Agreement) in regard.to the use of the said Recreational Property. (b) As more fully provided for in the Community Declaration, every Unit Owner has a right to use and enjoy the "Community Properties" within the meaning of the Community Declaration, 'such right to be subject to- such limitations as are set forth in the Community Declaration. 4.7. Easements to Run With Land. All easements and rights described in this Article IV are appurtenant easements running with the land, and except as otherwise expressly provided in this Article IV shall be perpetually in full.force and effect, and shall inure to the benefit of and be binding upon Declarant, the Association, Unit Owners, Occupants, First Mortgagees and any other person having any interest in the Condominium or any part thereof. The Condominium and every part thereof shall' be conveyed and encumbered subject to and together with all easements and rights described in this Article IV, .whether or not specifically mentioned in any such conveyance or encumbrance. ARTICLE V RESTRICTIONS, CONDITIONS AND COVENANTS 5.1. Compliance with Declaration, Bylaws and Rules and Regulations. Each Unit Owner and Occupant shall comply with all applicable provisions of the Act, the Community Declaration, this Declaration, the Bylaws, the Articles of Incorporation of the Association, and the Rules and Regulations, as amended. Failure to comply shall be grounds for an action by the Association, an liTPL: 212370.2 aggrieved Unit Owner, orany person adversely affected, for recovery•ofdamages, injunction or other relief. The acceptance of a deed of conveyance or the entering into of a lease or the entering into occupancy of any Unit shall constitute an,agreenient that the provisions of this Declaration, the Bylaws and the Rules and Regulations are accepted and ratified by such Unit Owner or Occupant. 5.2. Administration of Condominium. The Condominium shall be administered in accordance with the provisions of the Act, this Declaration and the Bylaws. 5.3 Restrictions on Use, Occupancy and Alienation_ The Units, Common Elements and Limited Common Elements shall be occupied and used as follows: • (a) Except as may be otherwise expressly provided in this Declaration, each Unit shall be used for Residential Purposes only. The foregoing shall not be deemed to prohibit any Unit Owner from using a portion of a Unit occupied by him as an office, provided that such use does not create regular customer or client traffic to and from such Unit and no sign, logo, symbol or nameplate identifying such business is displayed from such Unit or anywhere else on the Property. In addition, leasing or renting of a Unit for residential purposes shall not be deemed to be prohibited hereby, so long as the lease is incompliance with the provisions of this Declaration (including the provisions of Paragraph 5.4 hereof), the Bylaws and reasonable Rules and Regulations adopted by the Board. (b) There shall be no obstruction of the Common Elements, -and the Association shall have the -right to limit the number of guests of Unit Owners who may use any of the Common Elements. (c) Nothing shalt be done or kept in any Unit or in the Common Elements which will increase the rate of insurance on the Common Elements without the prior written consent of the Board. No Unit Owner shall permit anything to be done or kept in his Unit or in the Common. Elements which would result in the cancellation of insurance on any Unit or any part of the Common Elements, or which would be in violation of any law or for any immoral or improper purpose. No waste will be committed to the Common Elements. Without limiting the generality of the foregoing, in the event that the Board shall determine that the same is in the best interest of the safety of the Condominium, the Board shall specify certain models and/or types of appliances (including, without limitation, clothes dryers) as being the only types or models of such appliances that may be installed or used in the Units (or in certain Units). In the event that the Board shall at any time so require that only a certain type or model of appliance be used in any Unit (or in certain Units), no Unit Owner shall install or use in any Unit any such appliance, other than the type or model which has been so specified by the Board. (d) (i) Except as specifically permitted by the provisions of paragraph (ii) hereof, no sign of any kind or character whatsoever may be erected or displayed at any location on the Property, including, without limitation, the placement of any sign within a Unit in a location from which the I TPL: 212370.2 !2 same shall be visible from the outside of the Unit.and the placement of any sign in or upon .any vehicle on the Property. (ii) Notwithstanding the foregoing provisions of this paragraph (d), every Unit Owner shalfhave the right to display in•one window of his Unit one sign advertising the particular Unit for sale. No such sign, however, shall be larger than 2 feet by 3 feet in size. No such sign shall contain any intorthation other than the fact that Unit in which such sign is disfilayed is available for sale, the identity of any realtor with which such Unit has been listed for sale, and the name and telephone number from which information regarding the Unit may be obtained. In no event shall ..any sign erected anywhere on the Property (including within the window of any Unit) advertise any Unit as being available for lease. (e) No noxious or offensive activity shall be carried on in any Unit, or in the Common Elements, nor, shall anything be done therein which will be an annoyance or nuisance to other Unit Owners or Occupants. (0 No Unit Owner or•Occupant may keep more than a total of two (in any combination) - dogs, cats; or birds: Unit Owners and. Occupants may in their Units keep a number of smaller, generally recognized -household pets, such as fish or hamsters, subject to such rules -and regulations as may be adopted by the Board. No Unit Owner or Occupant may keep, breed, or maintain any pet for any commercial purpose. Pets may not be left unattended.outdoors or kept unattended outdoors, including on any balcony, terrace or garden area. Dogs must be kept on a leash and be under the physical control of a responsible person at all times while outside a Unit. Feces left upon the -Common Elements by pets must be removed immediately by the Unit Owner of the pet or theperson responsible for the pet. No potbellied pigs, snakes, pit bulldogs or other dogs determined in the Board's sole discretion to be dangerous dogs may be brought onto or kept on the Condominium at any time. Any pet which endangers the health of any Unit Owner or Obcupant of any Unit or which creates a nuisance or unreasonable disturbance, as may be determined in the sole discretion of the Board, must be permanently removed from the Condominium upon seven (7) days' written notice by the Board. If the Unit Owner or Occupant fails to comply with such notice, the Board may remove the pet. Any pet which, in the sole discretion of the Board, presents an immediate danger to the health, safety or property of any Occupant may be removed by the Board without prior notice to the pet's Unit Owner. Any Unit Owner or Occupant who keeps or maintains any pet upon the Condominium shall be deemed to have indemnified and agreed to hold the Association, its directors, officers, and agents free and harmless from any Toss, claim or liability of any kind or character whatever arising by reason of keeping or maintaining such pet within the Condominium. (g) Nothing shall be altered or constructed in or removed from the Common Elements, including the Limited Common Elements, except upon the written consent of the Board. Without WW1,: 212370.2 13 limiting the generality of the foregoing, and subject only.to such federal, state, and local laws and ordinances as may lawfully impose limitations on this provision, no television, radio, or other telecommunications antenna, dish, or similar device may be installed except in accordance with the Rules and Regulations, and in such fashion as to be the least visually intrusive to the other Residence and to neighboring properties_ . • • (h) The Board is authorized to adopt. the Rules and Regulations for the use of the •Condominium. said rules to be furnished in writing to the Unit Owners.and to be enforced pursuant to the provisions of the Bylaws. 5.4. Leasing of -Units. The Board shall have the power to make and enforce reasonable rules -and regulations and to fine, in accordance with the -Declaration and Bylaws, in order to enforce - . the provisions of this Paragraph. (a) Definition. "Leasing," for purposes of this Declaration, is defined as regular, exclusive occupancy of a.Unit by a person or persons other than the Unit Owner thereof for which the Unit Owner receives any consideration or benefit, including, but not limited to. a fee. service. gratuity, or emolument. provisions: (b) Leasing Provisions. Leasing of Units shall be governed by the following (i) General._ All leases shall be in writing and in a form approved .by the Board prior to the effective date of the lease. The Board shall rnaintain'in its files and, upon request, shall provide to any Unit Owner a form which is deemed acceptable. There shall be no subleasing of Units or•assignment of leases unless prior written approval is obtained from the Board. All leases must be for an initial term of not less than twelve (12) months. Within seven (7) days after executing a lease agreement for the lease of a Unit, the Unit Owner shall provide the Board with a copy of the lease and the name of the lessee and all other people occupying the Unit. The Unit Owner must make available to the lessee copies of the Declaration, Bylaws, and the rules and regulations. (ii) Compliance With Declaration, Bylaws, and Rules and Regulations, and Liability for Assessments. Each Unit Owner and each lessee, by occupancy of a Unit, covenants and agrees that any lease for a Unit shall contain the following language and agrees that if such language is not expressly contained therein, then such language shall be incorporated into the lease by existence of this covenant on the Unit: I IT11.: 2123 70.2 (A) Compliance With Declaration, Bylaws, and Rules and Regulations. The lessee shall comply with all provisions of the Declaration, Bylaws, and rules and regulations adopted pursuant thereto and shall control the conduct of all other Occupants and guests of the leased Unit in order to ensure compliance with the foregoing_ The Unit Owner shall cause all Occupants of his or her Unit to comply with the Declaration, Bylaws, and the rules and regulations adopted pursuant thereto, 14 and shall be responsible for all violations'by such Occupants, notwithstanding the fact that such Occupants of the Unit are fully liable and may be sanctioned for any •• violation of the Declaration, Bylaws, and rules and.regulations adopted pursuant thereto. Unpaid fines shall constitute a lien against the Unit.' Any violation of the. Declaration, Bylaws, or. rules and regulations adopted pursuant thereto by the lessee, any Occupant, or an guest -of lessee, is deemed to be a default under the terms of the lease and authorizes the Unit Owner to terminate the lease without liability and to evict the lessee in accordance with -North Carolina law. The Unit Owner hereby delegates and assigns to the Association, acting through the Board, the power and authority of enforcement against the lessee for breaches resulting from the 'violation of the Declaration, Bylaws, and the rules and regulations adopted pursuant thereto, including the power and authority to evict the Iessee. as attorney -in -fact on behalf and for the benefit of the Unit Owner, in accordance with the terms hereof. In the event the Association proceeds to evict the lessee, any costs, including attorney's fees and court costs, associated with the eviction shall be an assessment and lien against the Unit. (B) -Liability for Assessments. When a Unit Owner who is leasing his Unit fails to pay any annual or special assessment or any other charge for a period of more than thirty (30) days after it- is due and payable, then the delinquent Unit Owner hereby consents to the assignment of any rent received from the Iessee during the period of delinquency, and, uponrequest • by the •Board, lessee shall pay to the Association all unpaid annual and special assessments and other charges payable during and prior to the term of the lease and any other period of occupancy by lessee. However, lessee need not make such payments to the Association in excess of, or prior to the due dates for, monthly rental payments unpaid at the time of the Board's request. All such payments made by lessee shall reduce, by the same amount, lessee's obligation to make monthly rental payments to lessor. If lessee fails to comply with the Board's request to pay assessments or other charges, lessee shall pay to the Association all amounts authorized under Article VI herein as if lessee were an Unit Owner. The above provision shall not be construed to release the Unit Owner from any obligation, including the obligation for assessments, for which he would otherwise be responsible. (c) Inapplicability to Declarant and Holders of First Mortgages. This Paragraph 5.4 shall not apply to any leasing transaction entered into by Declarant or by the holder of any First Mortgage on a Unit who becomes the Unit Owner of a Unit through foreclosure or any other means pursuant to the satisfaction of the indebtedness secured by such First Mortgage. HMI,: 212370.2 I5 5.5. • Use by Declarant. (a) The provisions of this Article or any other provision of this Declaration or the Bylaws notwithstanding, Declarant shall have an easement to maintain sales offices and models for sales of Units throughout the Condominium. Declarant shall have the right to relocate, from time to time, and to discontinue and reestablish, from time to time, within the Condominium, until all ofthe Units have been conveyed to a Unit Owner other than a Declarant, any one or more of such offices or models. Declarant also -shall have the right to change -the use or combination of uses of such offices or models, provided that such offices or models shall be used only for sales offices or models. (b) . . Declarant shall also have an easement to. maintain signs on the Common Elements advertising the Condominium until all ofthe Units have been conveyed to Unit Owners other than a Declarant. Declarant shall remove all such signs not later than 30 days after all of the Units have been conveyed to Unit Owners other than Declarant and shall repair or pay for the repair of all damage done by removal of such signs. . 5.6. Hazardous Use and Waste. Nothing shall be done to or kept in any Units or the Common Elements that will increase any rate of insurance maintained with respect to the Condominium without the prior written consent of the Board. No Unit Owner or Occupant shall permit anything to be done to or kept in his Unit or the Common Elements that will result in the cancellation of insurance maintained with respect to the Condominium, or that would be a violation of any law, or that will result -in the commitment ofiwaste (damage, abuse, or destruction) to -or in his Unit or the Common Elements. 5.7. Prohibitions on Use of Common Elements. No Unit Owner or Occupant, except' 'Declarant during the Declarant Control Period, shall alter, construct anything upon, or remove anything from, the Common Elements, or paint, decorate, landscape or adorn any portion of the Common Elements, without the prior written consent of the Board. Without Iimiting the generality of the foregoing, no item shall be affixed to the underside of any balcony or any railing on the same, or any surface area of any Building. Each Unit Owner shall maintain any outdoor area designated as a Limited Common Element appurtenant to such Unit Owner's Unit, in a good, clean, and well kept condition. No Common Element or Limited Common Element shall be used in any way for the drying or airing of clothing, rugs or other fabrics. Entrances, sidewalks, yards, driveways, parking area and stairways shall not be obstructed in any way, other than normal usage by a Unit Owner. No "garage sales" or "yard sales" shall be permitted outside of a Unit. Without limiting the generality of the foregoing: (a) no outdoor grills shall be placed upon any balcony, porch, terrace or patio that is a Limited Common Element by any Unit Owner or Occupant, and (b) except for potted plants and patio furniture which are under forty-two (42) inches in height, no objects may be placed upon any such balcony, porch, terrace or patio unless the placement of the same has been approved by the Board. I 2! 2370.2 16 5.8. Nuisances. No nuisances shall be allowed upon the Property and no person shall engage in any use; practice or activityupon the Property which is•noxious, offensive or a source of annoyance to Unit Owners or Occupants or which unreasonably interferes with the peaceful possession and proper use of the Condominium Property by any Unit Owner or Occupant. All parts of the Condominium shall be kept in a clean and sanitary condition, and no rubbish, refuse or garbage shall be allowed to accumulate'and no fire hazard shall be•allowed to exist in any Unit, or upon any of the Common Elements. Any Unit Owner or Occupant who shall "dump or place any trash or debris upon any portion of the Condominium shall be liable to the Association for the actual cost ofremovaI thereof. 5.9. Parking. The only vehicles that may be parked on the Property are passenger vehicles in operating condition with .their then current license plates and, if applicable,operating stickers attached. Such vehicles may include pick-up trucks having a load bearing capacity of rw more than one-half ton. Every such vehicle shall be parked only in a parking space marked as such. In no event shall any boat, boat trailer, trailer, camper, truck (other than a pick-up truck having a load bearing capacity of no more than one-half ton), or motor home be permitted to be parked or stored on any part of the Property, unless the Board, through the exercise of itt power to issue rules and •regulations governing the use of the .Property, shall have designated a' particular location- on the Property for•the parking of the same, in which event -any such boat, boat trailer; trailer, camper, truck•. or motor home shall be parked only in such location and only in accordance with any rules and regulations the Board may have promulgated in regard to such parking. In addition to the foregoing, the Board shall be specifically authorized to promulgate; and modify from time to time, -such rules and regulations regarding the parking of vehicles on the Property as the Board shall determine. Such rules and regulations may include a limitation on the number of vehicles that:may be parked on the Property by the Unit Owner of any Unit and the designation of particular parking spaces for the exclusive use of specified Units. 5.10. Lawful Use. No improper or unlawful use shall be made of the Condominium Property or any part thereof. All valid laws, zoning ordinances and regulations of governmental bodies having jurisdiction thereof shall be observed. 5.11. Rules and Regulations. In addition to the foregoing restrictions, conditions and covenants concerning the use of the Condominium, reasonable rules and regulations not in conflict therewith and supplementary thereto may be promulgated and amended from time to time by the Board. 5.12. Enforcement. Each Unit Owner shall comply strictly with the provisions of this Declaration, the Bylaws and the Rules and Regulations, and decisions issued pursuant thereto, and as the same may be lawfully amended from time to time. Failure to do so shall be grounds for establishment and enforcement of liens on one individual Unit, an action to recover sums due for damages, injunctive relief, foreclosure of lien, or a combination of remedies, maintainable by the I-ITPL: 212370.2 17 Board or managing agent on behalf of the Association, or, in a proper case, by an aggrieved Unit Owner, all as more particularly described in the Bylaws. - 5.13. Liens. While the Property remairis subject to this Declaration and the provisions of the Act; no liens of any nature shall arise or be created against the Common Elements, except as approved by persons entitled to cast at least eighty percent (80%) of the votes in the Association, including eighty percent (80%) of the votes allocated to Units not owned by the Declarant, except for (i) such liens as may arise or he created against the Units and their respective Allocated Interests under the provisions. of the Act, and, (ii) with respect to Units and their respective Allocated Interests, title to which has not been conveyed, the lien ofany mortgage given by Declarant to secure financing for the Buildings and other improvements on the Property: ARTICLE VI ' ASSESSMENTS FOR COMMON EXPENSES .6.1. Assessment Liens. The Board has the power to levy Assessments against the Units for Common Expenses. Such assessments, together with interest, costs, and reasonable attomey's fees, shall be a lien on the Units against which they are assessed, and if any payment thereof becomes delinquent, the lien may be foreclosed and the Unit sold, or a money judgment obtained against the persons Liable therefor, all as set forth in the Bylaws. The lien will be subordinate to any First -Mortgage on a Unit if such Mortgage was recorded prior to the docketing of such item in the Office of the Clerk of Court. -The lien will not be affected by the sale or transfer ofa Unit unless a foreclosure ofa First Mortgage is involved, in which case the foreclosure will extinguish the lien.for any assessments that were payable before the foreclosure sale, but will not relieve any subsequent Unit Owner from paying further assessments. - • -6.2. Personal Liability of Transferees; Statement; Liability of First Mortgagee. (a) Any person intending to purchase or make a mortgage loan on a Unit shall be entitled to a statement from the Board, setting forth the amount of the assessment lien against the Unit in question and such Unit shall not be subject to a lien for any unpaid assessments against such Unit in excess of the amount therein set forth. (b) Where a First Mortgagee, or other person claiming through such First Mortgagee, pursuant to the remedies provided in a mortgage or deed of trust, or by foreclosure or by deed, or assignment, in lieu of foreclosure, obtains title to a Unit, the liability of such First Mortgagee or such other person for assessments shall be only for the assessments, or installments thereof, that would become delinquent, if not paid, after acquisition of title. For purposes hereof, title to a Unit shall be deemed acquired by foreclosure upon expiration of the applicable period of redemption. (c) Without releasing the transferorfromany liability therefor,any unpaid portion of assessments which is not a lien under (a) above or, resulting, as provided in (b) above, from the exercise of remed ies in a First Mortgage, or by foreclosure thereof or by deed, or assignment, in lieu HMI.: 212370.2 18 of such foreclosure, shall be a Common Expense collectible from all Unit Owners, including the transferee under (a) above and the Institutional Lender' or such other person under (b) above who acquires ownership by foreclosure or by deed, or assignment, in lieu of foreclosure. 6.3... Prohibition ofExemptionfrom Liability for ContributionToward Common Expenses. • No Unit Owner may exempt himself from liability for his share of the Common Expenses assessed by the 'Association by waiver of the .use or.erijoYment of any of the Comnion Elenents or by abandonment of his Unit or otherwise. - • ' 6.4 Date ofCommencenientofAnnualAssessments. After commencement of the annual assessments provided for herein, assessments shall be payable on a monthly basis on the first business day of each calendar month, with the monthly assessment for the month of a closing of a Unit by a buyer being prorated and the assessment for the remainder of the month ofthe closing being.collected from said buyer at closing. The first annual assessment shall be adjusted according to the number of months then remaining in that fiscal year. • 6.5. Working Capital. Upon acquisition of record title to a Unit by'an Unit Owner other than Declarant, each Unit Owner shall contribute to the working capital of the Association an amount equal to two and one-fourth months of the monthly assessment for that Unit; • Such initial. contributions shall not be considered as advance payments of regular assessments and shall not be refunded to a Unit Owner upon the subsequent resale of a Unit. Unless otherwise prohibited by the 'Act,`the Declarant may use any of the fund to defray any of its expenes, reserve contributions, or construction' costs and to make up any budget deficits while it is in control of the Association. .' 6.6. ' . Limitations on use of Assessments. No assessment of any kind may be used for the purpose of filing or pursuing any -legal action of any sort whatsoever (including but not limited to - lawsuits, arbitrations, administrative proceedings, and mediations) unless such use is approved by an affirmative vote of two-thirds of the votes entitled to be cast. Such limitation shall not apply, however, and assessments may be used, for the bringing of any action to collect dues or to enforce the use restrictions set forth in this Declaration or in the Rules and Regulations promulgated by the Board, or for the defense of any action brought against the Association. ARTICLE VII MANAGEMENT, MAINTENANCE, REPAIRS, REPLACEMENTS, ALTERATIONS AND IMPROVEMENTS TO THE CONDOMINIUM 7.1.. Common Elements. (a) By the Association. ' Except as otherwise set forth in the Declaration or the Act, the management, replacement, maintenance, repair, alteration, and improvement of the Common Elements shall be the responsibility of the Association, and, subject to the provisions of Section 7.2 hereof, the cost thereof shall be a Common Expense to the extent not paid by Unit HTPL: 212370.2 19 - Owners pursuant to Section 7.1 (b) hereof. All damage caused to a Unit by any work on or to"'the Common Elements done by or for the Association -shall be repaired by the Association, and the cost thereof shall be a Common Expense. (b) By Unit Owners. Each Unit Owner shall pay all costs to repair and replace all portions of the Common Elements that may become damaged or destroyed by reason of his intentional acts or the intentional acts of any Occupant of his Unit. Such payment shall be made upon demand made by the Association. 7.2. Common Expenses:Associated with Limited Common Elements or Benefiting Less Than All Units. (a) Any Common Expense associated with the• maintenance, - repair, or replacement of a Limited Common Element shall be assessed againstthe Unit, or in equal shares to the Units, to which such Limited Common Element was- allocated at the time the expense was incurred. (b) In addition, the Association may assess any Common Expense benefiting less than all of the Units against the Units benefited in proportion to their Common Expense liability. 7.3: Units. Each Unit Owner shall maintain his Unit at all times in a good and clean condition, and repair --and replace, at -his expense; all portions-ofhisUnit; perform his responsibilities in such manner as not to unreasonably disturb other Occupants; promptly report to the Board, or its agents, any defect or need. for repairs; and, to the extent that such expense is not covered by the proceeds of insurance carried by the Association, pay all costs to repair and replace any portion of another Unit that liar become damaged or destroyed by reason of his own acts or omissions, or the acts or omissions of any Occupant of his Unit. Such payment shall be made upon demand by the Unit Owners of such other Unit. Nothing herein -contained shall modify any waiver by insurance companies of rights of subrogation. 7.4_ Waiver of Claims. Except only as provided in Section 7.5(a) and (b), the Association shall make no claim against a Unit Owner or Occupant, and each Unit Owner and Occupant shall make no claim against the Association, or employees or agents thereof, or against any manager retained by the Board, or his or its officers, directors, employees or agents, for any loss or damage to any of the Property, or to a Unit or personal property therein, even if caused by the omission or neglect of any one or more of such persons and all such claims are hereby waived and released; provided, however, that this waiver shall not apply to any such Loss or damage due to intentional acts. 7.5. Right of Entry. (a) By the Association. The Association, and any person authorized by the Association, may enter any Unit or any of the Limited Common Elements in case of any emergency or dangerous conditions or situation originating in or threatening that Unit or any of the Limited HTPL: 212370.2 20 Common Elements. or the Common Elements. The Association, and any person authorized by the Association, after reasonable notice to•a Unit Owner or Occupant, may enter that Unit or any of the Limited Common Elements for the purposes of performing any of. the Association's powers under the Act, this Declaration or the Bylaws with respect to that or any other Unit, any Limited Common Elements, or the Common Elements. Notwithstanding Section 7.4, the Association shall be responsible for the repair of any damage caused by the Association or its authorized person to the entered Unit, and the cost thereof shall be a Common Expense. All such entries shall be made and done so as to cause as little inconvenience as possible to the Unit Owner and Occupant of the entered Unit or any portion of the Limited Common Elements allocated to the Unit Owner. (b) By Unit Owners. Each Unit Owner and Occupant shall allow other Unit Owners and Occupants, and their_representatives, to enter his Unit; or Limited Common Elements allocated to his Unit, when reasonably necessary for the purpose of altering, maintaining, repairing or replacing the Unit, or performing the duties and obligations under the Act, this Declaration or the Bylaws, of the Unit Owner or Occupant making such entry, provided that requests for entry are made in advance and that such entry is at a time con/enient to the Unit Owner or Occupant whose Unit or Limited Common Element is to be entered. In case of an emergency or dangerous condition or situation, such right of entry shall be immediate. Notwithstanding Section 7.4, the person making such entry shall_be responsible for.repair of any -damage caused by such person to the entered Unit or Limited Common Element 7:6. Architectural Control. No building, fence; or other structure shall' be commenced, • placed, erected or maintained upon the Common Elements; including the Limited Common Elements, nor shall any exterior addition, change or alteration be made to any Building (including changing the exterior color of any Building) until plans and specifications showing the nature, kind, shape, height, materials, and location of same shall have been submitted to and approved in writing by the Board and, in addition, by the Board of Directors of the Townhome Association. The foregoing restriction is intended to constitute a permanent charge on the Property in favor of both the Property and the Unit Owners of the property that is subject to the Townhome Declaration; but said restriction may be enforced only by the Townhome Association, acting through its Board of Directors, and not by any members of the Townhome Association acting as individuals. 7.7. Safety of Unit Owners. The Association shall not be responsible for the safety of the Unit Owners or their lessees, guests or invitees. Without Iimiting the generality of the foregoing, although the Condominium may be operated as a gated community, such gating is not designed to provide effective security for the Condominium, and unless the Association shall determine otherwise by a vote of its members, the Association shall not provide security services to the Condominium. 1TPL: 212370.2 71 1. ARTICLE VIII INSURANCE 8.1.. General. The Board shall obtain and maintain at all titnes, insurance of the type and kind provided in this Declaration and the Bylaws, and including insurance for such other risks, of a similar or dissimilar nature, as are or shall hereafter customarily be covered with respect to other condominium properties- similar in construction, design and use, all in not Tess than the amounts _ provided in this Declaration and the Bylaws. • 8.2. . Responsibility For Obtaining Coverage. The Board shall have the authorityto obtain, and shall obtain, insurance policies upon the Property in the name of the Association for the benefit of the Unit Owners and their First Mortgagees as their interests may appear, and provision shall be made for the issuance of the renewals thereof. Certificates of insurance arid/or policies shall be furnished to each Unit Owner and his First Mortgagee upon request. 8.3. Types of Coverage. The Board shall make every effort to secure insurance policies that will provide the -following minimum coverages: (a) Casualty Insurance. The Association shall maintain, to the extent available, casualty insurance upon the Buildings, including Units, and Common Elements. Such insurance shall be- in an amount equal to not -less than one hundred percent (100%) of the full insurable value of the Buildings, on a replacement cost basis exclusive of land, excavation, foundations and other items normally excluded from property policies, and shall insure against such risks and contain.such provisions as the Board from time to time shall determine, but at a minimum shall conform in all respects to the requirements of the Act, and shall provide that, notwithstanding any provision thereof that gives the insurer an election to restore damage in lieu of making a cash settlement, such option .shall not be exercisable if such restoration is prohibited pursuant to Section 47C-3-113(h) ofthe Act. (b) Public Liability. The Association shall maintain to the extent obtainable, public liability insurance in such limits as the Board may from time to time determine, which shall not be less than One Million Dollars ($1,000,000.00) per occurrence for death,bodily injury and property damage, covering the Association, each member of the Board, the managing agent, if any, and each Unit Owner, with respect to his liability arising out ofthe ownership, maintenance, repair, or use of the Common Elements. The coverage obtained by the Board must provide for at Ieast 30 days written notice to the Association and to any holder ofa First Mortgage on an individual Unit before the insurer can cancel or substantially modify it. (c) Fidelity Coverage. Fidelity insurance shall be maintained for all officers, directors, employees. and/or the managing agent of the Association and all other persons handling, or responsible for, funds of, or administered by, the Association. Such fidelity bonds shall name the Association as an obligee and shall be in an amount not less than a sum equal to one and one half HTPL: 212370.2 22 limes estimated annual operating expenses and reserves. The bonds shall contain waivers by the issuers of the•.bonds of all defenses based upon the exclusion of persons serving without compensation from the definition of "employees" or similar terms or expressions. (d) _ Other. The Board shall obtain such other insurance coverages, as the Board shall determine from time to time to be desirable. Premiums To Be Common Expense. Premiums upon insurance policies.purchased by the•Board shall be paid for by the Board and charged as a Common Expense. 8.5. Policy Provisions. The Board shall use its best efforts to secure insurance policies from a carrier authorized to iransact business in North Carolina and which is generally acceptable to private. institutional mortgage investors for projects similar in construction, location and use, which will provide for the following: (a) The master policy on the Property cannot be canceled, invalidated or suspended on account 'of the conduct of any one or more of the individual Unit Owners or Occupants. (b) The master, policy on the Property cannot be canceled, invalidated or suspended on account of the conduct of any officer or employee,of the Association, or managing agent, without prior demand in writing -that the Board or managing agent cure the defect: (c) Any "no other insurance" clause in the master policyon the Property excludes individual Unit Owners' policies from consideration. (d) Such policies may not be canceled or substantially modified without at least 30 days prior written notice to all insureds (including the Association and all Unit Owners), and to First Mortgagees. (e) A waiver of subrogation by the insurer as to any claims against the Association, any officer, director, agent or employee of the Association, Unit Owners and members of their household and their employees, agents, tenants and invitees. (f) A provision that, notwithstanding any provision thereof that gives the insurer an election to restore damage in lieu of making a cash settlement, such option- shall not be exercisable if such restoration is prohibited pursuant to Section 47C-3- 113(h) of the Act. • 8.6. Insurance Trustee. The Board may engage and pay as a Common Expense; any appropriate person to act as an insurance trustee to receive and disburse insurance proceeds upon such terms as the Board shall determine, consistent with the provisions of the Act and this Declaration. i3TPL: 212370.2 23 8.7. Insurance Unavailable. If the insurance described in Section'8.3 is not reasonably available, the Assocjation shall promptly cause notice of such fact to be hand -delivered or sent prepaid by United States mail to all Unit Owners. 8.8. Individual Policy for Unit Owners. Each Unit Owner shall obtain 'insurance, at his own expense, affording personal property, additional living expense, condominium assessment, personal liability, and any other coverage obtainable, to the extent and in the amounts such Unit Owner.deems necessary'to protect his own interests. Provided further that any such insurance shall - contain waivers pursuant fo Section 7.4 and shall provide that it is without' contribution as against the insurance purchased by the Association. If a casualty loss is sustained and there is a reduction in the amount of the proceeds that would otherwise be payable on the insurance purchased by the Association due to the proration of insurance purchased by a Unit Owner under this Section, such Unit Owner shall be liable to the Association to the extent of such reduction and shall pay the amount of such reduction to the Association upon demand, and assign the proceeds of his insurance, to the extent of such reduction, to the Association. ARTICLE IX CASUALTY DAMAGE 9.1. Duty to Repair. Except as provided in Section 9.2, in the event of damage to or destruction of any Building and/or the Common Elements as a result of fire -or other casualty; the Board shall arrange for the prompt repair and restoration of the Buildings and/or the Common Elements (including any .damaged Unit, but not including any decoration or coverings for walls, ceilings or floors, or other furniture, finishing, fixtures or equipment in the Unit, or a Unit Owner's Or Occupants personal-prdperty, furniture; fixtures, or equipment); and the Board shall -disburse the • proceeds of all insurance policies to the contractors engaged in such repair -and restoration in appropriate progress payments. Any cost for such repair and restoration in excess of the insurance proceeds shall constitute a Common Expense. Any surplus insurance proceeds remaining after repairs have been completed shall be treated as a common surplus. All proceeds of insurance shall be used and applied in accordance with the provisions of Section 47C-3-113(e) and (h) of the Act. Any reconstruction or repair shall be in accordance with the plans and specifications of the original Buildings and/or Common Elements or according to plans and specifications approved by the Board. - 9.2. Disposition of Insurance Proceeds inthe Event Casualty Damage Not Repaired. The provisions of Section 9.1 shall apply to any portion of the Condominium for which insurance is required under Article VIII and Section 47C-3-113 of the Act unless (i) the Condominium is terminated, (ii) repair or replacement would be illegal under any State or local health or safety statute or ordinance, or (iii) the Unit Owners decide not to rebuild by an 80% vote, including 100% approval of Unit Owners whose Units are not to be rebuilt or Unit Owners of Units to which are allocated Limited Common Elements not to be rebuilt. The cost ofrepair or replacement in excess of insurance proceeds and reserves is a Common Expense. If the entire Condominium is riot repaired or replaced, (i) the insurance proceeds attributable to the damaged Common Elements should be used to restore the damaged area to a condition compatible with the remainder of the Condominium, (ii) the ITPL: 212370.2 24 insurance proceeds attributable'to Units and Limited Common Elements which•are•not rebuilt shall be distributed to the Unit Owners of those Units and the Unit Owners of the Units to which those Limited Common Elements were allocated or to lien holders, as their interest may appear, and (iii) the remainder of the proceeds shall be. distributed to all the Unit Owners or Iien holders as their interest 'may appear, in proportion to their Allocated Interests. If the Unit Owners vote not to rebuild any Unit, that Unit's Allocated Interests are automatically reallocated upon the vote as if the Unit had been condemned under Section 47C-1-107(a) of the 'Act, and the Association proMptly shall prepare, execute and record an amendment to this Declaration reflecting the reallocations. Notwithstanding the provisions of this Section 9.2, Section 47C-2-118 of the Act shall govern the distribution of insurance proceeds if the Condominium is terminated. ARTICLE X TERMINATION OF THE CONDOMINIUM; CONDEMNATION; AMENDMENT OF THE DECLARATION 10.1. Termination. The Condominium may be terminated only in strict compliance with Section 47C-2-118 of the Act. _ • 10.2. Condemnation. In the event of a taking by eminent domain, or by a conveyance in lieu thereof of all or any part of the Property, the awards paid on account thereof shall be applied in accordance with Section 47C-1-107 of the Act. - 10.3. • Amendment. This Declaration- may be amended only in compliance with the- Act, -including, without limitation; Sections 47C-2-105-and 47C-2-11.7 of the Act," except that no amendment altering or impairing Special Declarant Rights.may be made without the written consent of Declarant. In addition, during the period of Declarant control of the Association under Section 47C-3-I 03(d) of the Act, any amendment to this Declaration which is not effected by the Declarant pursuant to the exercise of the Special Declarant Rights shall require the approval of HUDNA. ARTICLE XI MORTGAGEE PROTECTION 1 1. 1. Introduction. This Article establishes certain standards and covenants which are for the benefit of the holders, insurers and guarantors of certain mortgages and others as identified in this Article XI. In the event of conflict between the provisions of this Article and provisions of any other portion of the Condominium Documents, this Article will control: In the event that the Act shall for any given act or consent contain a greater or more stringent requirement, the Act will control. 11.2. Notice of Actions. The Association will give timely written notice by registered or certified mail, return receipt requested, to each Eligible Mortgage Holder, and each Unit Owner hereby consents to and authorizes such notice of: !ITN.: 212370.2 25 Mortgagee. (a) Any condemnation loss or any casualty Toss which affects a material portion of the Condominium or any Unit in which there is a First Mortgage held by such EIigible First - (b) Any delinquency in the payment of Assessments owed by. an Unit Owner whose Unit is subject to a First Mortgage held by such Eligible First Mortgagee, which remains uncured for a period of 60 days; .(c) - Any lapse, cancellation, or material modification of any insurance policy or fidelity bond maintained by the Association; • (d) Any proposed action which would require the consent of a specified percentage of Eligible First Mortgagees as specified in Section_ 1 1.3, which notice shall be sent by registered or certified mail, return receipt requested; and . (e) Any judgment rendered against the Association. • 1 1.3. Consent Required. This section 11.3 shall be effective only if, at the time this Section would apply, at least one Unit is subject to mortgage financing. (a) Documerit Changes. Notwithstandingany lowerrequirementpernnitted'by the - Declaration or .the Act, no amendment of the Declaration or Bylaws by the Association which materially changes any of the following may be effected without the vote of: (i) at least 67%.of the Unit Owners (or anygreater Unit'Owner Vote required in the Act), unless such rights are reserved 'to.the Declarant as Special Declarant'Right s in the Condominium Documents, (ii) until approved in writing by Eligible -Mortgage Holders representing at least 51% of the votes allocated to Units subject to First Mortgages held by Eligible Mortgage Holders, and (iii) during the period of Declarant control of the Association under Section 47C-3-103(d) of the Act, HUDNA: (i) Voting rights; (ii) Assessments, assessment liens or subordination of such liens; (iii) Reserves for maintenance, repair and replacement of Common Elements; (iv) Responsibility for maintenance and repair of the Condominium; (v) Reallocation of interests in the Common Elements or Limited Common Elements, or rights to their use; (vi) Redefinition of any Unit boundaries; 1 1 !TPL: 212370.2 26 - (vii) Convertibility of Units into Common Elements or vice versa; (viii) Expansion or contraction of the •Condominium or the addition, annexation or withdrawal of property 10 or from the Condominium, except as provided for in Section 3.3 hereof; (ix) - ' Hazard or fidelity insurance requirements; . (x) Imposition of any restrictions on the leasing of Units; (xi) ' Imposition of any restrictions on a Unit Owner's right to sell or transfer his or her Unit; (xii) A decision by the Association to establish self -management if professional management had been required previously by the Condominium Documents or by an Eligible Mortgage Holder; (xiii) Restoration- or repair of the Condominium (after damage or partial . condemnation) in a manner other than that specified in the Condominium. - Documents; (xiv) Any action to terminate the legal status of the Condominium after • substantial desti-uction or condemnation occurs; or - . . (xv) Any provisions that expressly benefit first mortgage holders, or - insurers or guarantors of first mortgages. An addition or amendment to the Declaration or Bylaws shall not be considered material if it is. for the purpose of correcting technical or typographical errors, or for clarification only. (b) Actions. Notwithstandingany lower requirement permitted by the Declaration or the Act, the Association may not take any of the following actions, other than rights reserved to the Declarant as Special Declarant Rights, without the approval of at least 51 % of the votes of the Eligible Mortgagees of Units that are subject to mortgages of the Eligible mortgagees or such higher percentage as set forth herein: HYPE: 212370.2 (i) An amendment to the Declaration' which authorizes the conveyance or encumbrance of the Common Elements or any portion thereof (as to which a 67% Eligible Mortgage Holder approval is required). (The granting of easement for public utilities or for other public purposes consistent with the intended use of the Common Elements by the Condominium will not be deemed a conveyance or encumbrance within the meaning of this clause); - 27 (ii) The establishment of self -management when professional management had been required previously by the documents or by an Eligible Mortgagee; (iii) The restoration or repair of the Property (after a hazard damage or partial condemnation) in a manner other • thari that specified in the Condominium Documents; . -(ix) Termination of the Condominium for reasons other than substantial. destruction or termination (as to which a 67% Eligible Mortgage Holder approval is required); (v) The .alteration of any partition or creation of any aperture between adjoining Units (when Unit boundaries are not otherwise being affected), in which..cdse only the Unit Owners of Units affected and Eligible Mortgage Holders of those Units need approve the action; (vi) The merger of this Condominium with any other condominium, in which case the approval of67% of the Eligible Mortgage Holders is required; (vii) Ariy action taken not to repair or replace the Property; (c) The Association may not change the period for collection of regularly budgeted bp- mrnon Expense Assessments to other than monthly without the consent of all Eligible Mortgage Holders. (d) The Association shall provide notice, including the text of the proposed action, mailed by certified or registered mail, by return receipt required, to an Eligible Mortgage Holder. Failure to respond within 30 days of receipt of notice of the action shall be -deemed consent given under this subsection. 11.4. Notice. Each First Mortgagee and each insurer or guarantor of a First Mortgage, upon written request stating its name and address and describing the Unit encumbered by the First Mortgage, held, insured or guaranteed, shall be entitled to timely written notification by the Association of (i) any proposed action which requires consent of a specified percentage of Eligible Mortgage Holders, (ii) any condemnation or casualty loss that affects either a material portion of the Condominium or the Unit securing its First Mortgage, (iii) any 60 day delinquency in the payment of assessments or charges owed by the Unit Owner of the Unit on which the First Mortgagee holds a First Mortgage; or (iv) any lapse, cancellation or material modification of any insurance policy or fidelity bond maintained by the Association. Each First Mortgagee who has requested the Association to notify it of any proposed action that requires the consent of a specified percentage of Eligible Mortgage Holders shall be considered an "Eligible Mortgage Holder." Any First Mortgagee who receives a written request by the Association, or any Unit Owner, to approve an addition or I ITPL: 212370.2 28 amendment to the Declaration or Bylaws who does not deliver or post to -the requesting party a negative response within thirty (30) days•shall be deemed to have approved such request. 11.5. Inspection of Books. The Association must maintain current copies of the Declaration, Bylaws, Rules and Regulations, books, records and financial statements.. The Association will permit any Eligible Mortgage Holder to inspect the books and records of the Association during normal business hours. • . 11.6. Enforcement. The provisions of this Article are for the benefit of Eligible Mortgage Holders and their successors, and may be enforced by any of them by any available means, at law or in equity. ARTICLE XII PROVISIONS RELATING TO THE ASSOCIATION 12.1. Creation of Association. Except as otherwise•provided for herein, in order to provide for the maintenance, repair, replacement, administration, and operation of the .property., Declarant has created an association to be known as "Belle Vista Condominium Unit Owners Association, Inc_" Membership. therein shall be composed. of all of the Unit Owners of the Units of'the. Condominium. Each Unit Owner of a Unirshall be a member of the Association, but membership shall be• automatically terminated when such Person ceases to be a Unit Owner, and will be transferred to the new Unit Owner. . . 12.2. Bylaws. The Association shall be governed in accordance with and as prescribed by the Bylaws, a true copy of which is attached hereto as Exhibit E. I2.3. All Units Bound. Declarant, by this Declaration, and all Unit Owners, by the • acceptance of their deeds, covenant and agree to be bound by the conditions, restrictions and obligations contained in the Bylaws and the provisions of this Declaration. 12.4. Duties and Powers. The duties and powers of the Association shall be those set forth in this Declaration, and the Articles of Incorporation and Bylaws of the Association, including the power and authority to levy assessments as provided for in the Bylaws. Without limiting the generality of the foregoing, it shall be the specific duty and responsibility of the Board to cause the Association to carry out and perform, on a timely basis, all of the duties and responsibilities of the Association under and pursuant to the terms and provisions of the Easement Agreement. 12.5. Superiority of Ballantyne Joint Committee, Inc. The Joint Committee serves as a unifying entity for ail residential and non-residential properties within the "Ballantyne Community" (as that term is defined in the Community Declaration). The Joint Committee is responsible for the administration of community properties and other matters relating to the BaIlantyne Community as described in, and pursuant to, the Community Declaration. HTPL: 212370.2 29 This Declaration shall be a "Member Declaration" us defined in the Comniunity Declaration and shall supplement the Community Declaration as it applies to the Property. Every Unit Owher of every Unit, by acceptance of an interest in such Unit, acknowledges that he is subject to the Community Declaration in -addition to this Declaration, and is subject to the assessment obligations and lien rights set forth therein. The Association, and not any Unit Owner, shall be a member of the Joint Committee. In addition to all of the rights and obligations which are conferred and imposed upon the Association pursuant to this Declaration, the By -Laws and the Articles of Incorporation, the Association shall be entitled to exercise any of the rights conferred upon it and shall be subject to all ofthe obligations imposed upon it pursuant to the Community Declaration and the by-laws ofthe Joint Committee. The Association shall also be subject to all superior rights and powers which have been conferred upon the Joint Committee pursuant to the Community Declaration and the by-laws of the Joint Committee. The Association shall take no action in derogation of the rights of, or contrary to the interests of the Joint Committee. 12.6. Declarant Control Period. The provisions of Article I11 of the Bylaws concerning the .Declarant Control. Period are made a part of this Declaration and are incorporated herein by reference as if fully set out herein. . • ARTICLE XIII GENERAL PROVISIONS • 1.3.1 _ Conflict with the Act. Should any of the terms, conditions; provisions, paragraphs, - or clauses of this Declaration conflict with any provisions of the Act, the provisions of the Act.shall control unless the Act permits theDeclaration to vary the Act, in which event the Declaration shall control. 13.2. Interpretation of Declaration. Whenever appropriate singular may read as plural, plural may be read as singular, and the masculine gender may be read as the feminine or neuter gender. Compound words beginning with the prefix "here" shall refer to this entire Declaration and not merely to the part in which they appear. 13.3. Captions. The captions herein are only for convenience and reference and do not define, limit or describe the scope of this Declaration, or the intent of any provision. I3.4_ Exhibits. The attached. Exhibits A, A-1, B, C, D, E and F are incorporated in their entirety into this Declaration by reference, 13.5. Invalidity. The invalidity of any provision of this Declaration shall not be deemed to impair or affect in any manner ilie validity or enforceability or effect of the remainder of this Declaration, and in such event, all of the other provisions of this Declaration shall continue in full force and effect as if such invalid provision had never been included herein. FITPL: 212370.2 30 -13.6. Waiver. No provision of this Declaration shall be deemed to have been abrogated or waived by -reason of any failure to enforce the same, irrespective of the number of violations or breaches which may occur. 13.7. Law Controlling. This Declaration shall be construed and control lcd by and under the laws of the State of North Carolina. IN WITNESS WHEREOF, Declarant hereby execuies this Declaration by and through its authorizedrepresentativeson the day and year first above written. PULTE HOME CORPORATION, a - Michigan corporation Thomas ' . Bruc -r! ttorney-in-Fact STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG I, a_ri-N.e.1e.L 0 . Yv\r , a Notary Public for said County and State, do hereby " certify that -Thomas W. Bruce, Attorney -in -Fact for Pulto Home Corporation, a Michigan Corporation, personally appeared before me this day and. being by me duly sworn, says that he executed the foregoing instrument for and• in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in Book 13074 at Page 900, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Thomas W. Bruce acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. WITNESS my hand and official seal this day of February, 2004. HTPL: 212370.2 ' My Commission Expires: 7/ ,,1U0 33 EXHIBIT A TO DECLARATION OF BELLE VISTA CONDOMINIUM . Lying and being in the City of Charlotte, Mecklenburg County, North Carolina and being more particularly described as follows: BEGINNING at a set concrete monument "Control Corner" with NC Grid Coordinates (NAD 83) of N = 479,583.456 and E = 1,445,041.894.in the southwesterly margin of the right-of-way of the private street known as Durant Boulevard as shown on map recorded in Map Book 34 at Page 857 and in Map Book 40 at Page 585 in the Mecklenburg County Public Registry; thence with the southwesterly margin of the aforesaid private street known as Durant Boulevard, South 34-16-40 East 220.81 feet to a point; thence South 21-I 1-03 West 155.53 feet to a set #4 rebar with NC Grid Coordinates (NAD 83) ofN = 479,256.023 and E = 1,445,1 I0.043; thence North 70-39-50 West 63.37 feet to a point; thence North 83- 5.8-45 West 63.32 feet to a point; thence South 86:07-17 West 45.34 feet to a point; thence South 86-30-21 West 41.52 feet to a point; thence with the arc of a circular curve to.the right having a radius.of231.50 feet, a chord bearing and'distance ofNorth 81-40-31 West 91:08 feet and an arc distance of 91.68 feet to a point; thence North 60-43-48 West 27.09 feet to a point; thence North 30-24-3 1 East 71.41 feet to a.point;Tence North 4'5-39-09 West 61.70 feet to a point; thence North 34-05-37 West 59.32 feet to a point; thence North-54:54:07 East 314.88 feet to:a point in the southwesterly margin of the Tight -of -way ,of the private street.known as Durant Boulevard; thence with the southwesterly margin oftheprivate street known as Durant Boulevard, South 34-40-37 East 67.94 feet to the Point and"Place Of BEGINNING and containing 2.251 acres, all as shown on map recorded in Map Book 40 at Page 585 in the Mecklenburg County Public Registry and on survey entitled "Final Plat of Belle Vista Condominium Phase 1A" by Scott L. Hunter of ESP Associates, P.A. dated November 7, 2003, to which survey reference is made for a more particular description of the property. HTPL: 212370.2 EXHIBIT A-1 • TO DECLARATION OF BELLE VISTA CONDOMINIUM • Lying and being in the City of Charlotte, Mecklenburg County, North Carolina and being more particularly described as follows: I3EQINNING at a found #4 rebar marking the northerly common corner of .Lots 521 and 522 of Ballantyne Country Club Phase .10 Map 2 as shown on map recorded in Map Book 28 at Page 652 in the Mecklenburg County Public Registry and running thence from said Beginning Point with the northerly rear lot•Iines of Lots 522, 523, 524, 525, 526, 527 and 528 of the aforesaid Ballantyne County Club Phase10 Map 2, the following four.(4) courses and•distances: (1) South 84-09-44 West 192.62 feet to a found #4 rebar, (2) North41-51-33 West 128.85 feet to a point, (3) North 00-30-53 East 102.53 feet to a point and (4) North 36-12-21 West 399.68 feet to a found #4 rebar in the southeasterly margin of that property shown on Ballantyne Commons West Parcel D Phase 1 Map 5-recorded in Map Book 38 at Page 425 in the Mecklenburg County Public Registry; thence with the southeasterly margins of the property shown on the aforesaid Ballantyne Commons West Parcel D Phase 1 Map 5, the property shown on Ballantyne Commons West Parcel D Phase • 1 .Map 6 recorded in Map Book 38 at Page 729 in the Mecklenburg. County .Public. Registry, the property shown on Ballantyne Commons West Parcel D Phase 1 Map 4 recorded in Map Book 38 at Page 7 in the Mecklenburg County Public Registry and the property shown on Ballantyne Comrrions West Parcel D Phase 1 Map 3 recorded in Map Book 37 at Page 659 in the Mecklenburg .County Public Registry, North 51-23-18 East 696.64 feet to a point tnarking the southeasterly cominor' corner of Lots &arid 7 ofthe aforesaid Ballantyne Commons West Parcel D Phase 1 Map.3; thence with the easterly lot line of Lot 6 of the aforesaid Ballantyne Commons West Parcel D Phase 1 Map 3, North 08-27-16 Fast 9.8.66 feet to a point in the southerly common comer of Lots 4 and 5 in Ballantyne Commons West Parcel D Phase 1 Map 1 recorded in Map Book 36 at Page 269 in the Mecklenburg County Public Registry; thence with the southerly margin of the aforesaid Lot 4 and the Common Open Space in the aforesaid Ballantyne Commons West Parcel D Phase 1 Map 1, North 74-26-25 East 74.75 feet to a point in the southwesterly margin of the private street, Durant Boulevard, shown on map of Ballantyne Commons West Parcel E Phase 1 Map 1 recorded in Map Book 34 at Page 857 in the Mecklenburg County Public Registry; thence with the southwesterly margin of the aforesaid private street, Durant Boulevard, the following two (2) courses and distances: (1) with the arc of a circular curve to the left having a radius of 480.00 feet, a chord bearing and distance of South 25-07- 06 East 159.19 feet, an arc distance of 159.93 feet to a point and (2) South 34-40-37 East 145.71 feet to a point; thence with the property lines of that 2.251 acres tract which is Belle Vista Condominium Phase 1 A, the following eleven (11) courses and distances: (1) South 54-54-07 West 314.88 feet to a point, (2) South 34-05-37 East 59.32 feet to a point, (3) South 45-39-09 East 61.70 feet to a point, (4) South 30-24-31 West 71.41 feet to a point, (5) South 60-43-48 East 27.09 feet to a point, (6) with the arc of a circular curve to the left having a radius of 231.50 feet, a chord bearing and distance of South 81-40-31 East 91.08 feet and an arc distance of 91.68 feet to a point, (7) North 86-30-21 East 41.52 feet to a point, (8) North 86-07-17 East 45.34 feet to a point, (9) South 83-58-45 East 63.32 HTPL: 212370.2 1 feet to a point, (10) South 70-39-50 East 63.37 feel to a point and (1.1) North 21-11-03 East 82.47 feet to a point in the southerly margin of a .849 acre Recreational Property shown on map recorded in Map Book 40 at Page 283 in the Mecklenburg County Public Registry; thence with the property lines of the aforesaid .849 acre Recreational Property, the following four (4) courses and distances: (1) South 69-29-11 East 203.45 feet to a point, (2) North 25-20-12 East 123.76 feet to a point, (3) with the arc of a circular curve to the right having a radius of 29.00 feet, a chord bearing and distance of North 35-05-21 East 9.82 feet and an arc distance of 9.87 feet to a point and (4) North 44-50-30 East 17.29 feet to a point in the southerly margin of the right-of-way of the private street, John J. Delaney Drive; thence with the southerly -margin of the right -Of -way of the private street, John J. Delaney Drive, the following four (4) courses and distances: (1) with the arc of a circular curve to the left having a radius of 290.51 feet, a chord bearing and distance of South 61-15-24 East 114.79 feet and an arc distance of 115.55 feet to a set concrete monument, (2) South 72-39-04 East 319.43 feet to a set concrete monument, (3) with the arc of a circular curve to the right having a radius of 209.49 feet, a chord bearing and distance of South 57-17-10 East 111.02 feet and an arc distance of 112.36 feet to a point'and (4) with the arc of a circular curve to the right having a radius of 209.49 feet, a chord bearing and distance of South 30-44-09 Fast $1.27 feet and an arc distance of 81.79 feet to a point; thence with the westerly margin of an Access Road the following four (4) courses and distances: (1) with the arc of a circular curve to the right having a radius of 16.00 feet; a chord bearing and distance of South 17-57-51 West 19.49 feet and an arc distance of 20.95 feet to a point, (2) with the arc ofa circular curve to the left having a radius of 170.50 feet, a chord bearing and distance of South 31-37-41 West 137.89 feet and an arc distance of 141.95 feet to a point, (3) South .07-46-36 West'47.1-0 •feet to a point and (4) South 05-31-21 West 67.79 feet to a point in the westerly margin of Ballantyne Commons West Parcel A Map 1 as shown on map recorded in Map Book 34 at Page 857 in the Mecklenburg County Public Registry; thence with the westerly margin of the aforesaid Ballantyne Commons West Parcel A Map 1, the'following two (2) courses and distances: (1) South 17-25-19 East 79.41 feet to a point'and (2) South 18-13-20 West 84.54 feet to a point in the northerly rear lot line of Lot 511 in the aforesaid Ballantyne•Country Club Phase 10 Map 2; thence with the northerly rear lot lines of Lots 511, 512, 513, 517, 51'8, 519 and 521, the following six (6) courses and distances: (1) North 72-39-04 •West 451:03 feet to a found #4 rebar, (2) South 82-06-08 West 236.93 feet to a .found #4 •rebar, (3) North 66-02-18 West 138.50 feet to a found #4 rebar, (4) South 64-39-12 West 157.62 feet to a found #4 rebar, (5) North 87-47-28 West 76.79 feet to a found #4 rebar and (6) North 64-34-42 West 113.17 feet to the POINT AND PLACE' OF BEGINNING and containing 21.116 acres, all as shown on map recorded in Map Book 40 at Page 585 in the Mecklenburg County Public Registry, to which survey reference is hereby made for a more particular description of the property. i UTPL,: 212370.2 2 EXHIBIT B TO DECLARATION OF BELLE VISTA CONDOMINIUM. TITLE EXCEPTIONS 1. Ad.vaIorem property taxes not yet due and payable. 2. Matters to be revealed on a current survey of the property. 3. Deed of Conveyance and Declaration of Easements recorded in Book 16271 at Page•877 in the Mecklenburg County Public Registry. . 4: Master Declaration of Covenants, Conditions and Restrictions for Ballantyne recorded in Book 7524 at Page 1, as amended in Book 8608 at Page 809, in Book I0579 at Page 858 and as supplemented in Book 10267 at Page 87 and Book 11273 at Page 428 in the Mecklenburg County Public Registry. 5. Easement to Southern Bell Telephone and Telegraph Company recorded in Book 764 at Page 510 in the Mecklenburg County Public Registry. . 6 Easements to Duke Power Company recorded in Book 928 at Page 469, Book 2215 at Page 17, Book 2763 at Page 423 arid Book 8364 .at Page 236 in the Mecklenburg County public • Registry.. • - 7. Easement and Land Development Agreement to The Terraces at Ballantyne, LLC recorded in Book 11823 at Page 34 in the Mecklenburg County Public Registry. 8. Easement to BellSouth Teleconununications, Inc. recorded in Book 12449 at Page 718 in the Mecklenburg County Public Registry. HTPL: 212370.2 EXHIBIT C • TO.DECLARATION OF BELLE VISTA CONDOMINIUM (PLATS AND PLANS) Please refer to plats and plans recorded as follows: The plat of survey for BELLE VISTA CONDOMINIUM PHASE I A dated November 7, 2003, prepared- by Scott. L. Hunter of ESP Associates, P.A., entitled "Final Plat of Belle Vista Condominium Phase IA", which was attached to this Declaration at the time it was filed for record in duly filed in the Office of the Register of Deeds for Mecklenburg County, North Carolina in Condominium Unit Ownership File No. 67'1 . Said survey is incorporated herein by reference as though fully set out herein. The. Plans for BELLE_ VISTA CONDOMINIUM PHASE 1A prepared by David' W. • Griffiths, Registered Architect, were attached to this Declaration at the time -it was filed for record, -and are duly filed in -the Office of the Register of Deeds for Mecklenburg County, North Carolina in Coridominiurn Unit Ownership File No. 6-7 7 , reference to which is hereby made, and said Plans are incorporated herein by reference as though fully set out herein. HTPL: 212370.2 1 EXHIBIT D TO DECLARATION OF BELLE VISTA CONDOMINIUM UNIT NUMBER " " UNIT TYPE 04101 04102 04103 04104 04105 04106 04107 -04108 04109 04110 04201 04202 04203 04204 04205 04206 04207 04208 04209 HTPL: 212370.2 B A B C C B -A B C C B A B C C B A C PERCENTAGE OF UNDIVIDED INTEREST IN COMMON ELEMENTS AND COMMON EXPENSES 2.5000% -2.3438% 2.5000% 2.5781% 2.5781 % 2.5000% 2.3438% 2.5000% 2.5781% 2.5781% 2.5000% 2.3438% 2.5000% 2.5781% 2.5781% 2.5000% 2.3438% 2.5000% 2.5781% I 04210 '04301 .04302 04303 04304 04305 04306 04307 04308 04309 04310 04401 04402 • 04403 04404 .04405 04406 04407 04408 04409 04410 HTPL: 212370.2 C B A B c c B A B C c B A- 13 C •C B A B C C 2.5781%, 2.5000% .2.3438% 2.5000% 2.5781% 2.5781% 2.5000% 2.3438% 2.5000% 2.5781% 2.5781% 2.5000% 2.3438% 2.5000% 2.5781% 2.5781% 2.5000% 2.3438% 2.5000% 2.5781% 2.5781% 100% EXHIBIT•E TO DECLARATION OF BELLE VISTA CONDOMINIUM BYLAWS • - OF • . BELLE VISTA CONDOMINIUM • UNIT OWNERS ASSOCIATION, INC. ARTICLE I PLAN OF CONDOMINIUM 1.1 Ownership. The property located in Mecklenburg County, State of North Carolina, and more particularly described in the Declaration of Belle Vista Condominium (the "Declaration"), has been submitted to the provisions of the North Carolina Condominium Act (the "Act") by instrument recorded in the Office of the Register of Deeds for Mecklenburg County; North Carolina, simultaneously herewith, and shall be knovvn as Belle Vista Condominium (the "Condominium"): • • 1.2. Applicability .of bylaws. The .provisions of these Bylaws are applicable to the Property of the Condominium, and to the use and occupancy thereof including all additional phases which may be added thereto. 1.3. - Persons Bound. All present and future Unit Owners, mortgagees,- Lessees and Occupants of Units and their employees, and any other persons who may -use the facilities of the Property in any manner are subject to the Declaration, these Bylaws and any Rules and Regulations made pursuant hereto, and any amendment to these Bylaws or the Declaration upon the same being passed and recorded in the manner set forth in the Condominium Documents. The acceptance of a deed of conveyance or the entering into of a lease or the act of occupancy of a Unit shall constitute an agreement that these Bylaws (and any Rules and Regulations made:pursuant hereto) and the provisions of the Declaration, as they may be amended from time to time, are accepted, ratified and will be complied with. 1.4. Definitions. The words, phrases and terms listed in these Bylaws shall have the meanings as set forth in the Declaration, to which these Bylaws are attached, unless the context clearly indicates a different meaning therefor. ARTICLE II UNIT OWNERS 2.1. Name and Nature of Association. Belle Vista Condominium Unit Owners Association, Inc. (the "Association") shall be a nonprofit corporation, organized under the laws of HTPL: 212370.2 the State of North Carolina, and the membership shall be comprised of all of the Unit Owners as herein provided, which Association shall be governed by the Board as herein provided. 2.2, Place of Meetings. All meetings of -the Association shall 'be held at the Property, or. at such other place, either within•oi• without the State of North Carolina, as shall be designated in a notice of the meeting. 2.3. Annual. An annual meeting of the Unit Owners shall be held at 7:00 o'clock p.m. on the first Monday in May of each year, if not a legal holiday, and ifa legal holiday, then at the same time on the next business day following the legal holiday, for the purpose ofelecting.membei:s of the Board and for the. transaction of such other business as may be properly brought before the meeting. • 2.4. Substitute Annual Meetings. If the annual meeting shall not be held on the day designated by the Bylaws, a 'substitute annual meeting may be called in accordance with the provisions of Section 2.5 of this Article. A meeting so called shall be designated and treated for all purposes as the annual meeting. 2.5. Special Meeting. Special meetings of the Unit Owners may be called at any time by the President, a majority ofthe Board, or upon the written request of the Unit Owners owning at least' 20% in Allocated Interest in the Common Elements exclusive of those Units held by the Declarant. 2.6. Notice of Meetings. Written. or printed notice stating the place, day and hour of any meeting shall be delivered or mailed not less than l 0 days nor more than 50 days prior -to the date thereof, either personally or by postage prepaid mail, at the direction of the Board, the President; .or Unit Owners -calling the meeting, to each person entitled to vote at such meeting, and, to all Eligible Mortgage Holders so requesting under the provisions of Article XI of the Declaration, who may request a representative to attend the meeting of Unit Owners. The notice of any meeting must state the time and place of the meeting and the items on the agenda, including the general nature of any proposed amendment to the Declaration or these Bylaws, and budget changes, and any proposal to remove Board members or officers. When a meeting is adjourned for less than 30 days in any one adjournment it is not necessary to give any notice of the adjourned meeting, other than by announcement at the meeting at which the adjournment is effective. 2.7. Quorum. The presence in person or by proxy at any meeting of the Voting Members {as defined in Section 2.8 of this Article) having 10% of the total votes which may be cast for election of the Board shall constitute a quorum. If there is no quorum at the opening of the meeting of Unit Owners, such meeting may be adjourned from time to time by the vote of a majority of the Voting Members present, either in person or by proxy; and at any adjourned meeting the quorum requirement shall be reduced by 50% of the original quorum requirement and if such quorum is present, any business may be transacted which might have been transacted at the original meeting. HTPL: 212370.2 2 The Voting Members at a meeting at which a quorum is present may continue to do business until adjournment; notwithstanding the withdrawal of enough Voting Members to leave less than a quorum. 2.8. Voting Rights. There shall be one person with respect to each Owner who shall be entitled to vote at any meeting of the Unit Owners (the "Voting Member"). The Voting Member may ' be the Unit Owner, or one -of a group composed of alt of the Unit Owners of a Unit, or may be some other person designated by such Uriit Owner(s) to act as proxy on his or their behalf, and who need not be an Unit Owner. Each Unit Owner or group of Unit Owners shall be entitled to one vote for • each Unit owned. No votes allocated to a Unit or Units owned by the. Association may be cast_ 2.9. Majority Vote.'The vote of a majority of the Voting Members present at a meeting at which a quorum shall be present shall be binding upon all Unit Owners for all purposes except where -a higher percentage vote is required by the Declaration, these Bylaws or by law. 2. 10. Proxies. The Voting Members may vote either in person or by agents duly authorized by written proxy executed by such Unit Owner or his duly authorized attorney in fact. A proxy shall be valid only for .the particular meeting designated therein, unless the person executing it specifies therein the length of time for which it is to continue in force, which time shall not extend beyond one year from the date of its execution. Unless a proxy otherwise provides, any proxy holder may appoint in writing a substitute to act in his place. In order to -be effective, all proxies must be dated. and filed with the Secretary or duly acting Secretary of the Association, either during or prior to the meeting in question. A proxy is void if it is not dated. 2.11. Waiver ofNotice. Any Voting Member may, at any time, waive notice of any meeting of the Association in -writing, and such waiver shall be deemed to be equivalent to the giving of such notice. Attendance by a Voting Member at any meeting of the Association shall constitute a waiver of notice by him of the time and place thereof, except where a Voting Member attends a meeting for the express purpose of objecting to the transaction of any business because the meeting was not lawfully called. 2.12. Informal Action by Unit Owners. Any action which may be taken,at a meeting of the Association may be taken without a meeting if a consent in writing, setting forth the action so taken, shall be signed by all of the Voting Members and filed with the Secretary of the Association to be kept in the Association's minute book. ARTICLE III EXECUTIVE BOARD 3.1. Number. The business and property of the Condominium shall be managed and directed by the Executive Board (the "Board"), composed of three persons, except as hereinafter provided. The size of the Board may be increased or decreased from time to time upon the HTPL: 212370.2 3 affirmative vote of three fourths of all Unit Owners, provided that said Board'shall not be less.than' three in number. In addition, the size of the Board may be increased in the »manner provided for in Paragraph 3.3 hereof. 3.2. Initial- Members. The initial members of the Board (referred to as "Directors" herein)' shall be selected by the Declarant, and need not be Unit Owners. Such initial directors shall serve at the election of the Declarant from the date upon which the Declaration is recorded in the Office of the Register of Deeds for Mecklenburg County, until such time as their successors are duly elected and qualified. • The names and addresses of the persons who shall serve on the initial Board from the date upon which the Declaration is so recorded in the Mecklenburg County Public Registry until such time as their successors are duly elected and qualified, are as follows: NAME ADDRESS David A. Cushing Scott-H.-Binder Ronda Ratliff Pulte Home Corporation 11121 Carmel Commons Boulevard Suite 450 Charlotte, North Carolina 28226 Pulte Home-Corporation- 11121 Carmel Commons Boulevard Suite 450 Charlotte, North Carolina 28226 Pulte Home Corporation 11121 Carmel Commons Boulevard Suite 450 Charlotte, North Carolina 28226 3.3.. Election. Notwithstanding anything stated ,to the contrary in the Declaration, the Articles or the Bylaws, the Townhome Association shall at all times have the right to appoint one Director. Any Director appointed to the Board of Directors by the Townhome Association shall serve at the discretion of the Townhome Association and may be removed and replaced at any time by the Townhome Association. In the event that the Townhome Association shall at any time decline to exercise its right herein set forth to appoint one Director, and then shall subsequently determine to re -exercise such right, then the number of members of the Board of Directors shall be increased to accommodate such member appointed by the Townhome Association at the time he shall. be so appointed to the Board. Except as provided herein, the directors shall be elected at the annual meeting of the Association, and those persons who receive the highest number of votes shall be deemed to have been elected. Notwithstanding anything herein to the contrary, the Board shall HTPL: 212370.2 4 consist of three Directors during theperiod that Declarant is entitled to appoint -a majority of the Directors..The Declarant shall have the right to appoint or remove the Directors until -the earlier of the following three dates: (a) within 120 days after the date by which 75% of the Units (including any Units which may be created pursuant to Special DeclarantRights) have been conveyed to Unit purchasers other than Declarant; (b) two years after all Declarants have ceased to offer Units for sale in the"ordinary course of business, or (c) two' years after any development right to add additional Units under' the Act was Last exercised. The Declarant can turn over control of the Association to such Unit Owners other than the Declarant prior to such dates in its -sole discretion by causing all or part of its appointed Directors to resign, whereupon it shall be the affirmative obligation of Unit Owners other than the Declarant to elect Directors and assume control of the Association. Provided at least 30 days notice of Declarant's decision to cause its appointees to resign is given to Unit Owners, neither the Declarant, nor such appointees, shall be liable in any manner in connection with such resignations even if the Unit Owners other than the Declarant refuse or fail to assume control. Within 60 days after conveyance of 25% of the Units (including Units which may be created pursuant to Special DeclarantRights) to Unit Owners other than.the Declarant, at least.one Director and not less -than 25% of the directors of the Board shall be elected by- Unit Owners other than the Declarant. Within 60 days after conveyance of 50% of the Units (including pnits which may be created pursuant to Special Declarant Rights) to Unit Owners other than the Declarant, not less than 33% of the Directors of the Board shall be elected by Unit Owners other than the Declarant. Within 60 day.s after the Unit Owners other than the Declarant are entitled to elect such Director or Directors, or sooner if the Declarant has elected to accelerate such event as aforesaid, the Association shall call, and give not less than 10 days nor more than 50 days notice of a meeting of the Unit Owners to elect such Director or Directors of the Board. The meeting may be called and the notice given by any Unit Owner if the Association fails to do so. 3.4. Term and Qualification. Each Director shall hold office for the term for which he was elected, or until his death, resignation, retirement, removal, disqualification or until his successor is elected and qualified. Each such Director shall serve for a two year term. Nothing herein contained shall be construed to prevent the election of a Director to succeed himself. Each Director, except those selected by the Declarant or the Towithome Association pursuant to the Bylaws, shall be one of the Unit Owners or co -Unit Owners, provided, however, that in the event a Unit Owner is a corporation, partnership, trust or other legal entity other than a natural person or persons, then an officer or director of such corporation, partner of such partnership, beneficiary of such trust or manager of such other legal entity, shall be eligible to serve as a Director. 3.5. Removal. Directors, other than a Director appointed by the Townhome Association, as provided for in Paragraph 3.3 hereof, may be removed from office with or without cause by the affirmative vote of at least 67% of the Voting Members. Any Director appointed by the Townhome HTPL: 212370.2 5 Association may be removed only by the Townhome Association. If any Directors' are so removed, new Board members may be elected at the same meeting; provided, however, that the person(s) selected by Declarant cannot be removed without the prior written consent of -Declarant. • 3.6. -Vacancies.'A vacancy occurring in the Board (other than a vacancy of•a-Director appointed by the Townhome Association) may be filled by a majority of the remaining Directors, though less than a quorum, or by the sole remaining director, but a vacancy created by an increase in the authorized number of Directors shall be filled only by election at an annual meeting or a special meeting of Unit•Oivners called for that purpose. The Voting Members may elect a Director - at any time to fill any vacancy not filled by the Board. In the event that Declarant, in accordance with the rights herein established, selects any 'person to serve on the Board, Declarant shall .have the absolute right at any time, in it's sole discretion, to replace such person with another person to serve on the Board. Replacement of any person designated by Declarant to serve on the Board shall be made by written instrument delivered to any officer of the Association, which instrument- shall specify the name of the person to be replaced and the name of the person designated as successor to the person so removed from the Board. The removal of any such Board member and the designation of his successor- shall be effective immediately upon delivery of such written instrument by Declarant to any officer of the Association. 3.7. Compensation. The Board shall receive no compensation for their services unless expressly allowed by the Board at the direction of the Unit Owners other than the Declarant having two thirds of the total votes. 3.8. Executive Committees. The Board may, by resolution adopted by a majority of the - number of -Directors -fixed by these Bylaws, designate two or more of its members to•constitute an executive committee, which committee, to the extent provided in such resolution, shall have and may exercise all of the authority of the Board in the management of the Condominium. The Board may, in like manner, create such other committees as it deems necessary and appropriate in aiding the Board to carry out its duties and responsibilities with respect to the management of the Condominium. 3.9. Powers and Duties. The Board shall have the powers and duties necessary for the administration of the affairs of the Condominium, and may do all such acts and things, except such acts as by law or the Declaration or by these Bylaws may not be delegated to the Board. Such powers and duties of the Board shall include, but shall not be limited to, the following: (a) Determining the Common Expenses required for the affairs of the Condominium, including, without limitation, the operation and maintenance of the Property. (b) Collecting the Common Expenses from the Unit Owners. HTPL: 212370.2 6 • Elements. • (c) Supeivising the operation,, care, upkeep.arid maintenance of the Common (d) Employing and dismissing the personnel necessary for the maintenance and operation of the Common Elements. (e) . Adopting and amending such reasonable rules and regulations as it may deem advisable for the maintenance, conservation, and beautification of the Property, and for the health, . comfort, safety, and general welfare of the Unit Owners and occupants of the Property. Written notice of such rules and regulations shall be given to all Unit Owners and occupants, and the entire Property shall at all times be maintained subject to such rules and regulations. (f) Opening bank accounts on behalf of the Condominium and designating the signatories required therefor, (g) Selling, mortgaging, voting the votes appurtenantto, or otherwise dealing with Units acquired by the Association; or its designee, corporate or otherwise, on behalf of all Unit Owners,subject to the Declaration and other applicable restrictions,.and organizing corporations to act as designees of the Board in acquiring title.to Units on behalf of all Unit Owners. (h) Maintaining and repairing any Unit; if such maintenance or repair is necessary 'in the. discretion of the Board or by operation of applicable restrictions to, protect the Common Elements or any other portion of the Property, and a Unit Owner has failed or refused to perform such maintenance or repair within a reasonable time after written notice of the necessity of said maintenance or repair has been delivered or mailed by the Board to said Unit Owner; provided, however, that the Board shall levy a. specific assessment against such Unit Owner for the costs of said maintenance or repair, .including a reasonable amount for supervision. (i) Entering any Unit when necessary in connection with any maintenance or construction for which the Board is responsible; provided that, except in the event of emergencies, such entry shall be made during reasonable hours with as little inconvenience to the Unit Owner as practical, and any damage caused thereby shall be repaired by the Board, with such expenses being treated as a Common Expense. (j) Signing all agreements, contracts, deeds, and vouchers for the payment of expenditures and other instruments in such manner as from time to time shall be determined by written resolution of the Board. Provided, however, that any contracts or leases executed on behalf of the Association prior to the passage of control of the Board to the Association must be terminable by the Association without penalty on not Tess than 90 days written notice. In the.absence of such determination by the Board, such document shall be signed by the Treasurer and countersigned by the President. HTPL: 212370,2 7 (k) Obtaining insurance for the Property, including the Units, pursuant to the. applicable provisions of the Declaration. (1) Making or contracting for repairs, additions, and improvements to, or alterations or restorations of, the Property in accordance with the other provisions of thee Bylaws and the. Declaration, after damage or destruction by fire or other casualty, or as a result of condemnation or eminent domain proceeding. (m)- Contracting for all goods, -services and insurance, paymenf for which is to be made from the Comrnon Expense fund. - (n) Instituting, defending, .or intervening in litigation or administrative proceedings in the name of or on behalf of the Association or two or more Unit Owners on matters affecting the Condominium. (o) Borrowing money on behalf of the Condominium, when required in connection with the operation, care, upkeep, and maintenance of the Common Elements; provided, however, that the consent of the Unit Owners of at least two thirds of the Units- represented at a meeting at which a quorum has been attained in accordance with the provisions of these Bylaws shall be required for the borrowing of any sum in excess of $10,000. - (p) ' Imposing charges for late payment of assessments and, after notice and an opportunity to be heard, levying reasonable fines for violations of the Declaration, the Bylaws, or rules and regulations established by the Association, all in accordance with Sections 47C-3-107 and 47C-3-107.1 of the Act. (q) At its discretion, authorizing Unit Owners or other persons to use portions of the Common Elements for private parties and gatherings and imposing reasonable charges for such private use. . (r) Exercising (i) all powers specifically set forth in the Declaration, the Articles of Incorporation, these Bylaws and in the Act, (ii) all powers incidental thereto, and (iii) all other powers of a nonprofit North Carolina corporation. - (s) Suspending the right of any Unit Owner to vote as long as said Unit Owner is delinquent in the payment of Common Expenses or is otherwise in violation of the Declaration or any exhibits thereto or applicable rules and regulations. (t) Ensuring that the Association performs on a timely basis all of its duties and obligations under and pursuant to the Community Declaration and the Easement Agreement, including, without limitation; paying all amounts which shall be due and payable by the Association pursuant to the same. HTPL. 212370.2 8 3.10. Managing Agent. The Board may engage the'.services of any person, firm, or corporation to act as managing agent at a compensation established by the Board, to perform such duties.and services as the Board shall authorize, other than the powers set forth in subdivisions (a), (e), (g), (h), (i), (p) and (q) of Section 3.9 of this Article III. Any management agreement for the Condominium' shall be terminable by either party without cause and without payment of a termination fee or penalty upon 90 days or more written notice thereof and the terms of such agreement may not exceed one year, renewable by agreement of the'pariies for successive one year periods. Any management agreement shall be terminable by either party for cause upon the giving ofnot less than 30 days written notice. When professional management has been previously utilized, any decision to establish self management by the Association shall require the prior consent of 67 percent of the Unit Owners and the approval of 51 percent of the Eligible Mortgage Holders, counting one vote for each First Mortgage owned. 3.11. Duties of Declarant. Within a reasonable time after Unit Owners other than the - Declarant elect -a majority of the members of the Board (but not more than 60 days after such event), the Declarant shall deliver control of the Association and shall deliver to the Association all property of the Unit Owners and of the Association held or controlled 'by the Declarant, including, if applicable: (a) The original or a photocopy of the recorded Declaration of Condominium, and all amendments thereto. Ifa photocopy is provided, the Declarant must certify by affidavit that it is a complete copy of the 'actual recorded .Declaration: Association. (b) A copy of the Articles of Incorporation. of the. Association. (c) A copy of the Bylaws of the Association. (d) The minute books, including all minutes, and other books and records of the (e) Any rules and regulations which have been adopted. (f) Resignations of resigning officers and Board members. (g) Association funds or the control thereof. (h) A Copy of the plans and specifications utilized in the construction or remodeling of improvements on the Property and the supplying of equipment, and for the construction and installation of all mechanical components servicing the improvements and the Condominium, with a certificate, in affidavit form, of an officer of the Declarant or an architect or engineer authorized to practice in North Carolina, that such plans and specifications represent, to the best of their knowledge and belief, the actual plans and specifications utilized in the construction and HTPL: 212370.2 9 improvement of the Condominium and the 'construction and installation of the mechanical components'serving the Improvements and the Property. (I) (I) Condominium. Insurance policies. Copies of any Certificates of Occupancy which may have been issued for the (k) Any other permits issued by governmental bodies applicable to the Condominium in force or issued within one year prior to the date the Unit -Owners take confrol of the Association. (I) All written warranties of contractors, subcontractors, suppliers and manufacturers, if any, that are still effective. (m) . A roster of Unit Owners and their addresses and telephone numbers, if known, as shown on the Declarant's records. (n) . Employment contracts or service contracts in which the Association is.one of the contracting parties, or service contracts in which the Association or Unit Owners have an obligation or responsibility, directly-or.indirectly, to pay some or all'of the fee or charge of the person or persons performing -the service_ (o) All other contracts to which the Association is a party. ARTICLE IV MEETINGS OF DIRECTORS • 4.1•. -Organizational Meeting. The first meeting of the initial Board -designated in these . Bylaws shall be held at such time as theDeclarant shall determine, but in no event later than one year from the date of incorporation of the Association. The first meeting of the first Board elected at that point after which Unit Owners other than the Declarant are entitled to elect a majority of the directors shall be held within 15 days following the meeting of the Unit Owners at which the Board was elected. No notice shall be necessary to the newly elected members of the Board in order to legally constitute such meeting, provided that a quorum is present. 4.2. Regular Meeting. A regular meeting of the Board shall be held immediately after, and at the same place as, the annual meeting or substitute annual meeting of the Unit Owners. In addition, the Board may provide by resolution the time and place, either within or without the State of North Carolina, for the holding of a regular meeting of the Board. 4.3. Special Meetings. Special meetings of the Board may be called by the President, or by any two Directors. Such meetings may be held either within or without the State of North Carolina. HTPL: 212370.2 10 4.4. Notice of Meetings. Regular meetings of the Board may be held without notice. The person(s) who called a special meeting of directors shall, at least two days prior to said meeting, give notice thereof by any usual means of communication. Such notice need not specify the purpose for which the meeting is called. . 4.5. Waiver of Notice. Any member of the Board may at any time waive notice of any meeting of.the Board in writing, and such waiver shall be deemed equivalent to the -giving of such notice. Attendance by a Director- at.any meeting of the Board shall constitute a waiver of notice of such meeting except where a member attehds the meeting for the express purpose of objecting to the transaction of any business because the meeting was not lawfully called and he does so object. 4.6. Quorum. A majority of the number of Directors fixed by these Bylaws shall be required for and constitute a quorum for the transaction of business at any meeting of the Board. The Directors at a meeting at which a quorum is present may continue to do business until adjournment, notwithstanding the withdrawal of enough Directors to leave less than a quorum. • 4.7. Manner of Acting. Except as otherwise provided in -this Article, the act of the majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board. A vote of a majority of the number of Directors fixed by these Bylaws shall be required to adopt a resolution constituting an executive cbmmittee. -4:8. Organization. Each meeting of the Board shall be presided over by the President, and in the absence of the President,- by any person selected to preside by -vote of the majority of the Board members present. The Secretary, or in his absence, an Assistant Secretary; or in the absence of both the Secretary and the Assistant Secretary,' any person designated by the President of the meeting shall act as secretary of the meeting, 4.9. Informal Action of Board. Action taken by a majority of the Directors without a meeting is nevertheless Board action if written consent to the action in question is signed by all of the Directors and filed with the minutes of the proceedings of the Board, whether done before or after the action so taken. 4.10. Minutes. The Board shall keep minutes of its proceedings, which shall be available for inspection by the Unit Owners during reasonable business hours. 4.11. Liability of the Board and Officers. The Directors and the officers provided for in Article V hereof shall not be liable to the Unit Owners for any mistake of judgment, negligence, or otherwise, except for their own individual willful misconduct or bad faith:The Unit Owners shall indemnify and hold harmless each of the Directors and the officers against all contractual liability to others arising out of contracts made by the Board or the officers on behalf of the Condominium, unless any such contract shall have been made in bad faith or contrary to the provisions of the HTPL: 2 12370.2 I1 Declaration or these 'Bylaws. It is intended that the Director's or any officer shall have no personal liability with respect to any contract made by them on behalf of the Condominium, except to the extent that they are Unit Owners and have liability as such. It is also intended that the liability of any Unit Owner arising out of any contract made by the Board or the officers, or out of the aforesaid indemnity -in favor of the directors or the officers, shall be Iimited to such proportion of the total liability thereunder as his interest in the Common Elements bears to the interests of all the Unit Owners in the Common Elements. Every agreement made by the Board, by the managing agent or by the officers on behalf of the Condominium shall provide that the members of the Board, the managing agent or the officers,. as the case may be, are acting only as agents for the Unit Owners: and shall have no personal liability thereunder. 4.12. Attendance of Unit Owners. Regular meetings of the Board shall not be open to Unit Owners; provided, however, Unit Owners may request to attend meetings of the Board for a specific purpose as stated in a written request to the Board, which request shall be considered by the Board in its sole and absolute discretion. ARTICLE V OFFICERS 5.1. Number. The principal officers of the Condominium shall consist of a President, a Secretary, a Treasurer;and such Vice Presidents, Assistant Secretaries, Assistant Treasurers and other officers as the Board may'from time to time elect. Any two or more offices may be.held by the same person, except the offices of President and Secretary. 5.2. Election and Term. The officers of the Condominium' shall be elected by the Board. The President, Vice President, Secretary and Treasurer shall be elected from among the Board, and all other officers, ifany, need only be a Unit Owner. The officers elected by the•initial Board are not required to be Unit Owners. The election of the officers may be held at the regular annual meeting • of the Board. Each officer shall hold office for a period of one year, or until his death, resignation, retirement, removal, disqualification, or until his successor is elected and qualifies. 5.3. Removal. Any officer or agent elected or appointed by the Board may be removed by the Board, with or without cause. 5.4. Compensation. No officer shall receive any compensation from the Condominium for acting as such. 5.5. President. The President shall be the principal executive officer of the Condominium, and, subject to the control of the Board, shall supervise and control the management of the Condominium- The President shall, when present, preside at all meetings of the Board and of the Unit Owners and, in general, shall perform all duties incident to the office of President, including the preparation, execution, certification, and recordation, with the Secretary, of amendments to the HTPL: 212370.2 12 . Declaration on behalf of the Association, and such other duties as may be prescribed from time to time by the Board. 5.6. Vice President. The Vice President, and if there be more than one, the Vice Presidents, designated by the Board, shall, in the absence or disability of the President, have the powers and perform the duties of said office. In addition, each Vice President shall perform such other duties acid have such other powers as shall be prescribed by the President or by the Board. 5.7. Secretary. The Secretary shall keep accurate records of the acts and proceedings of all meetings of Unit Owners and directors. He shall give, or cause to be given, all notices required by law and by these Bylaws. He shall have general charge of the minute books and records of both the Association and the Board. He shall sign such instruments as may require his signature, and, in general, shall perform all duties incident to the office of secretary, including the preparation, execution, certification, and recordation, with the President, of amendments.to the Declaration on behalf of the Association, and such other duties as may be assigned him from time to time by the President of the Board or by the Board. 5.8. Treasurer. The treasurer shall receive and deposit in appropriate bank accounts all Condominium funds and securities, and shall receive, deposit or disburse the same under the direction of the Board. He shall keep full and accurate accounts of the finances of the Condominium .in books especially provided for that purpose. He shall cause a true statement of its assets and liabilities as of the close of each fiscal year, and of the results of its operations and changes in surplus for each fiscal year, all in reasonable detail, to be prepared and distributed to all Unit Owners and members of the Boardon or before the 15th day of the second month following the close of each fiscal year. The statement so filed shall be kept available for inspection by any Unit Owner for a period of three years. The Treasurer shall also prepare and file all reports and returns required by federal, state or local law, and shall perform all other duties as may be assigned to him from time to time by the President of the Board or by the Board. 5.9. Assistant Secretaries and Treasurers. The Assistant Secretaries and Assistant Treasurers, if any, shall, in the absence of the Secretary and Treasurer, respectively, have all the powers and perform all of the duties of those officers, and they shall perform such other duties as shall be assigned to them by the Secretary or the Treasurer, respectively, or by the President or by the Board. ARTICLE VI OPERATION OF THE PROPERTY 6. I . Assessment and Determination of Common Expense . The Board shall from time to time, and at least annually, prepare a budget for the Condominium, for the purpose of determining the amount of the Annual Assessments to be collected from the Unit Owners in order to provide for the Common Expenses of the Condominium, and allocate and assess such Common Expenses HTPL: 212370.2 13 among the Unit Owners, according to their Percentage of Interest in the Common Elements as set forth in the Declaration, taking into consideration any expected income and any surplus from the prior year's operations. The Common Expenses shall include, without limitation: the expenses, costs and charges incurred in connection with the administration, operation and management of the Condominium property; all amounts which shall be the obligation of the Association pursuant to the Community Declaration and the Easement Agreement; the cost of maintenance, repair, replacement and restoration of the Common Elements, or any part thereof; the cost of all insurance premiums on all policies of insurance required to be or which have been obtained by the Board pursuant to the provisions of the Declaration; suchamounts as the Board may deem proper for the convenience, comfort and well being of the Unit Owners, and for the operation, management and maintenance of the Property, including, without limitation, an amount for working capital of the Condominium, for a general operating reserve, for a reserve fund for replacement or improvement to the Common Elements and those Limited Common Elements the Association -is obligated to maintain, and to make up any deficit in the Common Expenses for any prior year; in proper cases, the cost of administration and of maintenance and repair of the Limited Common Elements; and any other expenses lawfully agreed •upon. In establishing a reserve fund for replacements, theBoard shall take into account the number and nature of replaceable assets, the expected -life of each asset and the expected repair or replacement cost. The Board shall then set the required capital contribution in an amount sufficient to permit meeting by equal annual installments over the applicable period the projected capital needs of the Association with respect to both amount and timing'. Within 30 days ,after adoption by the Board of any proposed budget for the Condominium, •the Board shall provide a summary of the budget to all Unit Owners and shall give notice of a date fora meeting of the Unit Owners to consider ratification ofthe budget not less than 14 nor more than 30 days after mailing of the summary and -notice. Notwithstanding Section 4.6 of these Bylaws, a quorum need not be present at the meeting. The budget is ratified unless at the meeting a majority of all the Unit Owners (whether or not present at the meeting) votes to reject the budget. In the event the proposed budget is rejected, the periodic budget last ratified shall be continued until such time as the Unit Owners ratify a subsequent budget proposed by the Board. 6.2. Payment of Assessments. All Unit Owners shall be obligated to pay (a) Annual Assessments of Common Expenses assessed by the Board pursuant to the provisions of Section 6. 1; (b) special assessments to be established and collected as provided herein, and (c) specific assessments against any Unit which are established pursuant to the terms of these Bylaws. Annual Assessments shall be due and payable in monthly installments on the first day of every month. A late payment charge in an amount to be determined by the Board shall be assessed for any installment not paid by the tenth of the month. Any installment not paid during the month in which it is due shall be subject to the late payment charge and shall accrue interest as provided in Section 6.5, and shall constitute a lien on the Unit as provided in Section 6.6. No Unit Owner shall be liable for the payment of any part of the Common Expenses assessed against his Unit subsequent to a sale, transfer or other conveyance by him (made in accordance with FHTPL: 212370.2 14 the provisions of the Declaration and applicable restrictions of record) of such Unit, together with his interest in the Common Elements (and Limited Common Elements, ifany). A purchaser of a Unit shall be jointly and severally liable with the seller for the payment of Assessments assessed against such Unit prior to the acquisition by the purchaser of such Unit only if the purchaser expressly assumes such obligation in writing; provided, however the lien assessed against such Unit shall remain in full force and effect. Any such purchaser shall be entitled to •a statement from the Board setting forth the amount of the unpaid Assessments against the seller, and the Unit conveyed shall not be subject to a lien for any unpaid assessments in excess of the amount shown on the statement. Provided, however, that First Mortgagee or other.purchaser of a Unit at a foreclosure sale of such Unit or First Mortgagee who takes a deed in lieu of foreclosure shall not be liable for, and such Unit shall not be subject to, a lien for the payment of Common Expenses assessed prior to the foreclosure sale or deed in lieu of foreclosure. Such unpaid Common Expenses shall be deemed to be Common Expenses collectible from all of the Unit Owners, including such purchaser, his successors and assigns. 6.3. Special Assessments. The Association may levy Special Assessments for Common Expenses not covered by the Annual Assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Elements, including fixtures and personal property related thereto, provided that any such Assessment shall have the assent of two thirds of the Voting Members at a meeting duly called for this purpose. Such Special Assessments shall be charged to the Units according to their Allocated Interests in the Common Elements. In addition, the Board may levy Special Assessments against one or more, but Iess -than all, -of the Units to cover repairs or maintenance for which such Unit Owner or Unit Owners are responsible and which .they have failed to make, or for repairs or maintenance required of a Unit Owner or Unit Owners which impair the value of the Common Elements or the Unit or Units, or expenses which are incurred in the abatement of or as a result of a violation by a Unit Owner or Unit Owners of the provisions of the Declaration, the Bylaws or the Rules and Regulations, or for fines levied for said violations, or where the Board has purchased a Unit on behalf of one or more Unit Owners. The period of assessment and manner of payment of such assessment shall be determined by the Board. 6.4. Collection of Assessments. The Board shall determine Common Expenses against the Unit Owners from time to time, at least annually, and may, as the Board shall determine, take prompt action to collect any Assessments due from any Unit Owner which remain unpaid for more than 30 days from their due date. The Board shall notify Eligible Mortgage Holders pursuant to the provisions of the Declaration of any amount assessed pursuant to these Bylaws which remains unpaid for more than 60 days from its due date, and in any other case where the Unit Owner of such Unit is in default with respect to the performance of any obligation hereunder for a period in excess of 60 days. IITPL: 212370,2 15 .6.5. Default in Payment of Assessment. In the event of default by any Unit Owner in paying any amounts assessed by the Board, such Unit Owner shall be obligated to pay a late payment. charge as established by the. Board from time to time, and interest at the rate of 18% on such amounts from Their due date; together with all expenses, including attorneys' fees (as permitted by law), incurred by the Board in collecting such unpaid sums. If a Unit Owner shall be in default in payment of an installment of an Assessment, including but not limited to, the monthly installment based on the annual budget, the Board may accelerate the remaining installments upon ten days' written notice to such Unit Owner, whereupon the entire unpaid balance of such Assessment shall become due upon the date stated in such notice. The Board may appoint an Adjudicatory Panel composed of five (5) Unit Owners, which may include members of the Board. The Adjudicatory Panel shall have the authority to levy fines not to exceed One Hundred and Fifty ($150.00) per violation for a violation of the Declaration, these Bylaws, or any Rules and Regulations enacted by the Board. Prior to the imposition of any such fine, the Adjudicatory Panel shall send to the defaulting Unit Owner written notice of the proposed fine and notice of the date, time and location for a hearing before the Adjudicatory Panel at which time the defaulting Unit Owner and the panel may present evidence. The notice of hearing shall be delivered personally or sent by certified mail before the hearing date. The Adjudicatory Panel shall provide the defaulting Unit Owner written notice of its decision once it is reached. The fine shall be an assessment secured by a lien under Section 47C-3-116 of the Act. 6.6. Lien and Personal- Obligation. Each Assessment provided for in this Article, together with late payment charges, interest and expenses, including attorneys' fees (as permitted by law), shall be a charge on and a continuing lien upon the Unit against which the Assessment is made when a notice of such lien has been filed of record in the 'office of the Clerk of Superior. Court of Mecklenburg County, North Carolina, in the manner provided by Article 8, Chapter 44, of the North Carolina General Statutes, provided such notice of lien shall not be• recorded until such •sums assessed remain unpaid for a period of 30 days after the same shall become due. Said notice of lien shall also secure all Assessments against the Unit becoming due thereafter until the lien has been satisfied. Said lien may be foreclosed in the manner as a deed of trust on real property. In addition, each Unit Owner shall be personally liable for any Assessment against his Unit becoming due and payable while he is the Unit Owneryf such Unit. 6.7. Priority of Assessment Lien. The lien of the Assessments provided for in this Article shall be prior and superior to all other liens except (a) ad valorem taxes and (b) all sums unpaid on deeds of trust, mortgages or other encumbrances against the Unit prior to the docketing of the Assessment lien. The sale or transfer of any Unit shall not affect the Assessment lien against such Unit. Provided, however, the sale of a Unit pursuant to the foreclosure sale or execution sale instituted by a superior lien holder or conveyance to Mortgagees by deed in lieu of foreclosure shall extinguish the inferior Assessment lien against the subject Unit but no such sale or transfer shall relieve each Unit from liability for any Assessments thereafter becoming due or for any future lien in connection therewith. The Association shall share in the excess, if any, realized by the sale of any Unit pursuant to a foreclosure or action instituted by a superior lien holder, to the extent of its lien. HTPL: 212370.2 16 6.8. Unit Owners Non -Use. No Unit Owner may exempt himself from liability for Assessments and his other obligations to the Association by waiver of the use or enjoyment of any portion of the Common Elements or by the abandonment or sale of his Unit. 6.9. Foreclosure of Liens for Unpaid Assessments. The Board, acting on behalf ofthe Association, or on behalf of anyone- or more individual Unit Owners, if so instructed, shall have the power to purchase such Unit at the foreclosure sale and to acquire, hold, lease, mortgage, vote the votes appurtenant to, convey or otherwise deal with the same, subject, however, to applicable restrictions of record. A suit to recover a money judgment for unpaid Assessments shall.•be maintainable.without foreclosure or waiver of the Assessment lien. Where a First Mortgagee or the purchaser of a Unit obtains title to the Unit as a result of foreclosure of a mortgage, such purchaser, its successors and assigns, shall not be liable for the share of the Common Expenses or Assessments by the Board chargeable to such Unit which became due prior to the acquisition of title to such Unit by such purchaser. Such unpaid share of Common Expenses or Assessments shall be deemed to be a Common Expense collectible from all Unit Owners, including such purchaser, its successors and assigns. 6.10. Statement of Common Expense.The Board shall promptly provide to any Unit Owner so requesting in writing a written statement of all unpaid charges due from such Unit Owner, for which it may impose a reasonable charge at its discretion. 6.11. Abatement and Enjoinment of Violations by Unit Owners. The violation of any rule. or regulation adopted by the Board, the breach of any Bylaw contained herein, or the breach of any provision of the Declaration, shall give the Board the right, in addition to any other rights set forth in these Bylaws: (a) to enter the Unit in which, or as to which, such violation or breach exists, and to make any repairs, and to summarily abate and remove, at the expense of the defaulting Unit Owner, any structure, thing, or condition which may exist therein contrary to the intent and meaning of the provisions hereof, and the Board shall not thereby be deemed guilty in any manner of trespass, but no items of construction shall be altered or demolished pursuant to this authority before judicial proceedings are instituted; (b) to enjoin, abate, or remedy by appropriate legal proceedings, either at law or in equity, at the expense of the defaulting Unit Owner, the continuance of any such breach; (c) in any case of flagrant or repeated violation by a Unit Owner, to require such Unit Owner to give sufficient sureties for his future compliance with such Condominium documents; or (d) after notice and an opportunity to be heard, to levy reasonable assessments and fines in accordance with Sections 47C-3-107 and 47C-3-107.1 of the Act for such violations. The failure of the Board or Adjudicatory Panel to so act with respect to any such violation or breach shall not be deemed a waiver of the Board's or Adjudicatory Panel's right to act with respect to the same or any other breach. 6.12. Maintenance and Repair. (a) Each Unit Owner shall maintain, repair, and replace, at his sole cost and expense, all portions of his Unit which may become in need of maintenance, repair, or replacement, HTPL: 212370.2 17 • including the components of the heating and air conditioning system within and appurtenant to each Unit, if any, all bathroom and kitchen fixtures and appliances, light fixtures, interior, non- - loadbearing walls, doors, floors, ceilings, carpeting, drapes and other items within the Unit, whether structural or nonstructural, ordinary or extraordinary (other than maintenance of and repairs to any Common EIements not specifically set forth herein contained therein and not necessitated by The negligence, misuse or neglect of the Unit Owner, his employees, guests, agents, servants, lessees, invitees or contractors). Each Unit Owner shall clean the•Limited Common Elements appurtenant to his Unit and replace all light bulbs in fixtures (ifany) located in such Limited Common Elements. Each Unit Owner shall be responsible for replacing all heating and air conditioning filters, if any, required in his Unit. Each Unit Owner shall further be responsible for all damages to any and all other Units and/or to the Common Elements which his failure to undertake his maintenance responsibility may cause. All damages to the Common Elements or other Units intentionally or • negligently caused by the Unit Owner, his employees, guests, agents, servants, lessees, invitees or contractors shall be promptly repaired by the Unit Owner at.his sole cost and expense; provided that there is excluded from the provisions contained in this section such repairs necessitated by casualties insured against by the Association to the extent the Association receives insurance proceeds for such repairs. The Unit Owner shall be in said instance required to pay such portion of the costs of such maintenance, repair and replacement as shall exceed the amount of the applicable• insurance proceeds. If the Unit Owner does not make those repairs to be made .by him within 30 days from written demand by the Board, the same may be repaired by the Board, and the cost thereof shall be assessed against the Unit owned by the subject Unit Owner. (b) The Association, through its Board, shall maintain, repair and replace -all portions of the Common Elements and Limited Common Elements (except as provided'in Section 6.12(a) above or in the Declaration) which shall require same, whether located inside or outside of the Units (unless necessitated by the negligence, misuse or neglect of a Unit Owner, his employees, . guests, agents, servants, lessees, invitees or contractors, in which case such expense shall be charged to such Unit Owner, or unless herein provided to the contrary), and the cost thereof shall be charged to all the Unit Owners as a Common Expense. 6.13. Restrictions on Unit Owners. No Unit Owner shall perform or cause to be performed any maintenance, repair or replacement work which disturbs the rights of the other Unit Owners, jeopardizes the soundness or the safety of the Condominium property, or reduces the value thereof. Each Unit Owner shall cause any work so performed or being performed on the Unit, which, in the sole opinion of the Board, violates the terms of this section, to be immediately corrected, and he shall refrain from recommencing or continuing any such work without written consent of the Board. 6.14. Duty to Report. Each Unit Owner shall promptly report to the Board or its agent any defect or need for repairs or replacement the responsibility for which is that of the Association. 6.15. Additions, Alterations or Improvements by the Association. Whenever in the judgment of the Board, the Common Elements shall require additions, alterations or improvements; the Board shall proceed with such additions, alterations or improvements, and shall assess all Unit HTPL: 212370.2 18 - Owners for the costs thereof, as a Common Expense, subject, however, to the provisions of Sections 6.1 and 6.3. 6.16. Additions or Improvements by Unit Owners. No Unit Owner shall make any addition, alteration or improvement in or to his Unit which impairs the structural integrity or . mechanical systems or lessens the support of any part of the'Condominium. No Unit Owner shall" make any addition, alteration or improvement which affects the exterior portion or outward . appearance of such Unit, without the prior written consent thereto of the Board. The Board shall have the obligation to answer any Written request by a Unit Owner for approval of a proposed addition, alteration or improvement in or to such Unit Owner's Unit within 30 days after such request, and failure to do so within the stipulated time shall constitute a consent by the Board to the proposed addition, alteration or improvement. 6.17. Use of Conunon Elements and Facilities. A Unit Owner shall not interfere with the use of the Common Elements- by the remaining Unit Owners and their employees, guests, agents, servants, lessees, invitees, or contractors. • 6.18. - Conveyance or Encumbrance of Common Elements. All or portions of the Common Elements may be conveyed or subjected to a security interest by the Association in accordance with - the provision of Section 47C-3-112 of the Act. 6.19. Right of Access. Unit Owner shall grant a right of access to his Unit to the managing agent and/or any other person authorized by the Board or the managing agent, for the purpose of -making inspections or for the purpose of correcting any condition originating in- his Unit- and . threatening another Unit or a Common Element, or for the purpose of -performing installations, alterations or repairs to the mechanical or electrical services or other Common Elements in his Unit or elsewhere in the Buildings, or to correct any condition which violates the provisions of any . mortgage covering another Unit, provided that requests for entry are made in advance, and that any such entry is at a time reasonably convenient to the Unit Owner. In the case of an emergency, such right of entry shall be immediate, whether or not the Unit Owner is present at the time such request for entry is made, and whether or not such entry is at a time reasonably convenient to the Unit Owner. 6.20. Rules of Conduct. Rules and Regulations concerning the use of the Units and the Common Elements may be promulgated and amended by the Board. Such Rules and Regulations shall be equally applicable to all Unit Owners and shall be uniform in their application and effect. Copies of such Rules and Regulations shall be furnished by the Board to each Unit Owner prior to their effective date. 6.21. Remedies Cumulative. All rights, remedies and privileges granted to the Association or the Unit Owner or Unit Owners of a Unit pursuant to any terms, provisions, covenants or conditions of the Condominium Documents shall be cumulative, and the exercise of any one or more HiTPL: 212370.2 19 shall not constitute an election of remedies, nor shall it preclude the party thus exercising the same from exercising such other and additional rights, remedies or privileges as may be available to such party at law or in equity. 6.22. Nonwaiver ofRemedies.- (a) The failure of the Association or any Unit Owner to enforce any right, provision, covenant or condition which may be granted by the Condominium Documents shall not constitute a waiver of the right of the Association or the Unit Owner to enforce such right; provision, covenant or condition in the future. (b) The failure of Declarant to enforce any right, privilege, covenantor condition which may be granted to it by the Condominium Documents shall not constitute a waiver of the right of Declarant to thereafter enforce such right provision, covenant or condition in the future. (c) The failure of a First Mortgagee to enforce any right, provision, privilege, covenant or condition which may be granted to it or them by the Condominium Documents shall not constitute a waiver of the right of said party or parties to thereafter enforce such right, privilege, covenant or condition in the future. ARTICLE VII RECORDS AND AUDITS 7.1. Reports. The Board shall keep detailed records of the actions of the Board and the managing agent minutes of the meetings of the Board, minutes of the meetings of the Association, .and financing records and books of account of'the Condominium, including a chronological listing of receipts and expenditures, as well as a separate account for each Unit which; among other things, shall, contain the amount of each Assessment against each Unit, the date when due, the amounts paid and the balance remaining unpaid. A current copy of the Declaration, Articles of Incorporation of the Association, these Bylaws, any currently effective Rules and Regulations, and the Association's books, records and financial statements shall be available for examination by all Unit Owners, their duly authorized agents or attorneys, and all holders, guarantors, or insurers of First Mortgages secured by Units, their attorneys and authorized agents, at convenient hours during normal business hours that shall be set and announced for general knowledge. A written annual summary of all receipts and expenditures of the Condominium shall be rendered by the Board to all Unit Owners on or before the 15th day of the second month following the close of each fiscal year. In addition, an annual report of the receipts and expenditures of the Condominium shall be rendered by the Board to all Unit Owners and to all Eligible Mortgage Holders who have requested the same, promptly after the end of each fiscal year. 7.2. Common Expense Funds. All sums collected by the Association, either as Assessments for the Common Expenses or as Special Assessments may be commingled in a single fund, but they shall be held for the Unit Owners for the purposes for which they are paid, and shall, subject to the right ofwithdrawaI or refund provided herein, be credited to accounts from which shall HTPL: 212370.2 20 be paid the charges for which the Assessments are made. Such accounts shall include the following, Or such other and further accounts as the Board from time to time shall determine: (a) General Common Expense Account to which shall be credited collection of that portion of the Common Expense Assessments received for defraying the costs of operating the Condominium on a day today basis, including normal maintenance and repairs; insurance and. related charges; and - • (b) Capital Reserve Account to which shall be credited,,a11 sums collected which are to be allocated for capital expenditures for the reconstruction, repair and replacement of Common Elements at a future date. All sums collected by the Association during the fiscal year, either as assessments of the Common Expenses or as special assessments, and allocated to the General Common Expense Account or to any other account from which non -capital expenditures may be made, in excess of expenditures during such fiscal year made from or chargeable to said account or accounts shall be deemed contributions to capital at the end of said fiscal year, and shall be transferred to the Capital Reserve Account. All.amounts credited to said Capital Reserve Account shall be contributions to capital, and shall be held in trust by the Association for future expenditures of a capital nature, and shall serve to reduce the Assessments required for said capital expenditures. 7.3. -Audits. All books of account and financial records shall be kept in accordance with good and acceptable accounting practices. - ARTICLE VIII • AMENDMENTS TO BYLAWS 8.1. Notice. Notice of the subject matter of a proposed amendment shall be included in the notice of a meeting at which a proposed amendment is to be considered. 8.2 Adoption. A resolution for the adoption of a proposed amendment may be proposed either by a majority of the Board or by not less than one third of the members of the Association. Directors and members of the Association not present in person or by proxy at the meeting considering the amendment may express their approval in writing provided that such approval is delivered to the Secretary at or prior to the meeting. The approval must be by not Iess than a majority of the votes of members of the Association represented at a meeting at which a quorum has been attained. 8.3. Limitation. No amendment may be adopted which would eliminate, modify, prejudice, abridge, or otherwise adversely affect any rights, benefits, privileges or priorities granted or reserved to the Declarant or Eligible Mortgage Holders without the consent of said Declarant and Eligible Mortgage Holder in each instance. No amendment shall be made that is in conflict with the I-ITPL: 212370.2 2I Articles of Incorporation of the Association or Declaration without satisfaction of the requirements therein contained. So long as the Declarant controls the Association and the Veterans Administration holds or insures any First Mortgage on a Unit, the Veterans Administration shall have the right to veto any amendment to the Bylaws. No amendment to this Section shall be valid. 8.4. Execution and Recording. A copy of each amendment shall be attached to a certificate certifying that the amendment was duly adopted as an amendment to the Declaration and . Bylaws, which certificate shall be executed by the President or Vice President and attested by the Secretary or Assistant Secretary of the Association with the formalities ofa deed, or by the Declarant alone if the amendment has been adopted consistent with the provisions of the Declaration allowing such action by the Declarant. The amendment shall be effective when .the certificate and a copy of amendment is recorded in the Office .of the Register of Deeds for Mecklenburg County, North Carolina. ARTICLE IX CONDEMNATION 9.1. General. Whenever all or any part of the Condominium Property shall be taken by any authority having the power of condemnation or eminent domain, each Unit Owner and all Eligible Mortgage Holders shall be entitled to notice thereof and to participate in the proceedings incident thereto unless otherwise prohibited by law. The award made for such taking shall be payable to the Association. Unless otherwise provided by law at the time of such taking, any award made therefor shall be disbursed by the Association as provided in this Article IX 9.2. Common Elements. If the taking is confined to the Common Elements (general or limited) on which improvements shall have been constructed, and at least 80% of the'total vote of the menthers of the Association entitled to vote shall vote within 60 days after such taking to replace the improvements, or any part thereof, on the remaining land included in the Common Elements (general or limited) and according to the plans therefor first approved by the Association, then the Board shall arrange for such replacement and the Association shall -disburse the proceeds of such award in the same manner as they are required to disburse insurance proceeds where damage or destruction to the Common Elements (general or limited) is to be repaired or reconstructed as provided for herein; subject, however, to the right hereby reserved to the Association to provide by a majority vote of the Voting Members, for the disbursement by the Association of the remaining proceeds held by it (after the payment of all costs incident to such replacement) to the Unit Owners, or to any one or more of them or to their institutional lenders as their interests may appear in amounts disproportionate to their percentages of undivided interest in the Common Elements (general or limited) established herein, which disproportionate amounts shall correspond with the disproportionate damage sustained by the Unit Owners or any one or more of them as the Association may determine. If at least 80% of the Voting Members shall not decide within 60 days after such taking to replace said improvements, or if the taking is confined to the Common Elements (general or limited) oh which no improvements shall have been constructed, then the Association shall disburse the proceeds of the award provided for the disbursement of the remaining proceeds of an award after payment of all costs incident to replacement of improvements taken has been made, HTPL: 212370.2 22 including the right reserved to the Association to' provide for the disbursement of the remaining proceeds held by it to the Unit Owners in disproportionate amounts. All disbursements made under this Section 9.2 shall be in strict compliance with Section 47C-1-107 of the Act. 9.3.. Units. If the taking includes one or more Units, or any part or parts thereof, whether or not there is included in the taking any part of the Common Elements (limited or general), then the. award shall be disbursed and all related matters shall be handled pursuant to and in accordance with the consent of all Unit Owners and First Mortgagees affected, and thereafter the Board shall reallocate that Unit's Allocated Interests in a duly recorded amendment to the Declaration of Condominium in accordance with Section 47C-1-107 of the Act. 9.4. Termination. The Board shall call a'meeting of all Unit Owners at least 45 days prior to any final taking by the condemning authority to determine the action to be taken pursuant to Sections 9.2 and 9.3 above. Except in the event of a taking of all the Units by eminent domain, in the event the condemnation involves more than 10% of the value of the Common Elements (limited or general) and/or more than 15% of the total value of all Units, the Condominium may be terminated at such meeting by Written approval of not less than 80% of the Voting Members. Any termination agreement shall be in compliance with 47C-2-118 of the Act. ARTICLE X MISCELLANEOUS 10.1. Ad valorem Taxes. Each Unit shall be deemed to be a separate parcel and shall be separately assessed and taxed; Each Unit Owner shall be liable solely for the amount of tax assessed against his Unit and shall not be affected by the consequences resulting from the tax delinquency of other Unit Owners. All tangible personal property owned by the Association in connection with the maintenance, upkeep and repair of the Common Elements shall be listed for said taxes in the name of and paid by the Association. Each Unit Owner is also responsible for his pro rata share of taxes assessed on his portion of the Common Elements, if any. 10.2. Notification to Mortgagee . Any Unit Owner who mortgages his Unit shall notify the Association of the name and address of the mortgagee, and the Association shall maintain such information in a book entitled "Mortgagees of Condominiums." In addition to any other notification provided for in the Declaration or these Bylaws, the Association may, at the written request of a mortgagee of any such Unit, report any unpaid assessments due from the Unit Owner of such Unit. The Association shall notify each mortgagee appearing in said book of the name ofeach company insuring the Condominium Property under the master policy and the amounts of the coverages thereunder. 10.3. Severability. Invalidation of any covenant, condition, restriction or other provision of the Declaration or these Bylaws shall not affect the validity of the remaining portions thereof which shall remain in full force and effect. HTPL: 212370.2 23 10.4. Successors Bound. The rights, privileges, duties and responsibilities set forth in the Declaration or these Bylaws, .as amended from time to time, shall run with the ownership of the Property and shall be binding upon all persons who own or hereafter acquire any interest in the Property. 10.5. Gender, Singular, Plural. Whenever the context so permits, the use of the singular or plural shall be interchangeable in meaning and the use ofany gender shall be deemed to include all . genders. 10.6. Principal Office; Registered Office. The initial principal office and registered office of the Association shall be located at 11121 Carmel Commons Boulevard, Suite 450, Charlotte, North Carolina 28226. 10.7. Other Offices. The Association may have other offices at such other places within North Carolina as the Board may from time to time determine or as the affairs of the Association may require. 10.8. Seal. The seal of the Association shall contain the name of the Association, the word "Seal," the state of incorporation and such other words and figures as are desired'by the Board. When obtained, the seal shall be impressed in the margin of this Section of the Bylaws. 10.9. Fiscal Year. The fiscal year of the Association shall be the calendar year. 10.10. Distribution of Assets upon Dissolution. Upon dissolution of the corporation, the assets thereof shall, after all liabilities and obligations of the corporation have been paid, or adequate • provision made therefor, be dedicated to an appropriate public agency to be used for purposes similar to those for which the corporation was created or, in the event that such dedication is refused acceptance, distributed to any association or associations organized for purposes similar to those set forth herein. Approved this day of February, 2004. e. 11'rPL: 212370.2 , Secretary 24 EXHIBIT F TO DECLARATION OF • BELLE VISTA CONDOMINIUM ARTICLES OF INCORPORATION • OF . BELLE VISTA CONDOMINIUM OWNERS ASSOCIATION, INC. In compliance with the requirements of Chapter 55A of the North Carolina General Statutes, the undersigned, who is a resident of Mecklenburg County, North Carolina and is of the age of eighteen (18) years or more, does hereby make and acknowledge these Articles of Incorporation for the purpose of forming a corporation not for profit and does hereby certify: ARTICLE I NAME The name of the corporation is Belle Vista Condominium Owners Association, Inc. (hereinafter referred to as the "Association"). ARTICLE II• DURATION The corporation shall have.perpetual duration. ARTICLE III PURPOSES The purposes for which the corporation is organized are: (a) To provide for the management, maintenance, preservation, administration and operation of Belle Vista Condominium, a condominium organized pursuant to Chapter 47C of the North Carolina Statutes, the North Carolina Condominium Act, as set forth in that certain Declaration of Condominium to be recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina (the "Declaration"); (b) To promote the health, safety and welfare of the "Unit Owners" (as defined in the Declaration) and residents within the jurisdiction of the corporation; HTPL: 212370.2 1 (c) To carry out and perform all of the duties and. obligations of the Association pursuant to that certain Deed of Conveyance and Declaration of Easements, dated October 10, 2003, by and between Pulte Home Corporation and Ballantyne Commons Townhomes Association, Inc. recorded in Book 16271 at Page 877 in the Mecklenburg County Public Registry; and (d) To engage in any and all lawful activities incidental to the foregoing purposes, except as restricted herein. ARTICLE IV NON-PROFIT QUALIFICATIONS This corporation does not contemplate pecuniary gain or profit to the members thereof, and it is organized for non-profit purposes. It is intended that this corporation qualify as an exempt organization under the provisions of Chapter 55A of the North Carolina General Statutes and as a homeowners association under the provision of Section 528 of the Internal Revenue Code. No part of the net earnings of the corporation shall.inure to the benefit of any member or individual ARTICLE V DISTRIBUTION OF ASSETS UPON DISSOLUTION Upon dissolution of the corporation, the assets thereof shall, after all liabilities and obligations of the corporation have been paid, or adequate provision made therefore, be dedicated to an appropriate public agency to be used for purposes similar to those for which the corporation was created or, in the event that such dedication is refused acceptance, distributed to any association or associations organized for purposes similar to those set forth in Article III above, all in accordance with any further provisions of the bylaws of the corporation. ARTICLE VI MEMBERSHIP AND VOTING RIGHTS The corporation shall have members. Such membership shall be limited to the owners of condominium units in Belle Vista Condominium, and every owner of a unit shall automatically be a member of the corporation. Membership in the Association is appurtenant to, and inseparable from, ownership ofa condominium unit in Belle Vista Condominium. The foregoing is not intended to include persons or entities who hold an interest merely as security for the performance of an obligation. ARTICLE VII REGISTERED AGENT AND OFFICE The address of the principal and initial registered office in the State of North Carolina is: HTPL: 2I 2370.2 2 ARTICLE X AMENDMENTS These Articles of Incorporation may be amended as provided by the provisions of Chapter 55A of the North Carolina General Statutes, provided that no amendment shall conflict with the Declaration or the North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes. ARTICLE XI INCORPORATOR The name and address of the. incorporator is as follows: H. David Powell Horack Talley Pharr & Lowndes, P.A. 2600 One Wachovia Center 301 South College Street, Suite 2600 Charlotte, North Carolina 28202-6038 IN WITNESS WHEREOF, for the purposes of forming this corporation under the laws of the State of North Carolina, I, the undersigned, being the incorporator of this Association, have executed these Articles of Incorporation this day of , 2004. I-ITPL: 212370.2 (SEAL) H. David Powell, Incorporator 4 STATE OF NORTH CAROLINA ACKNOWLEDGMENT COUNTY OF MECKLENBURG This is to certify that on this day of , 2004, before me, , a Notary Public of Mecklenburg County, North Carolina, personally appearedH. David Powell who executed the foregoing Articles of Incorporation of Belle Vista Condominium Owners Association, Inc, and I having first made known to him the contents thereof, he did acknowledge that he signed, sealed and delivered the same as his voluntary act and deed for the uses and purposes therein expressed. IN WITNESS WHEREOF, I have hereunto set my hand and seal, this day of , 2004. [AFFIX NOTARY SEAL] HTPL: 212370.2 Notary Public My Commission Expires: 5 THIS INSTRUMENT PREPARED BY: Charles E. Murphy, Jr., Esq. Powell, Goldstein, Frazer & Murphy LLP 191 Peachtree Street, NE Sixteenth Floor Atlanta, Georgia 30303-1736 WHEN RECORDED RETURN TO: H. David Powell, Esq. Horack, Talley, Pharr & Lowndcs 2600 One First Union Center 301 South College Street Charlotte, North Carolina 28202-2619 DEED OF CONVEYANCE - AND DECLARATION OF EASEMENTS THIS DEED OF CONVEYANCE AND DECLARATION OF EASEMENTS is made on thisbatSay of October, 2003 by and between PULTE HOME CORPORATION, a Michigan corporation ("Pulte"), and BALLANTYNE COMMONS TOWNHOMES ASSOCIATION, INC., a North Carolina corporation (the "Association"). WITNESSETH: WHEREAS, on April 30, 2001 Pulte executed and recorded in the Register of Deeds of Mecklenburg County, North Carolina in Book 13178, Page 861 that certain Declaration of Covenants and Restrictions for Ballantyne Commons Townhomes (the "Ballantyne Commons Declaration"); and WHEREAS, pursuant to the Ballantyne Commons Declaration, and the various supplemental declarations that have been, and that will in the future be, executed and recorded pursuant to the provisions of Article II, Section 2 of the Ballantyne Commons Declaration, Pulte has subjected various portions of the BaIlantyne Commons Townhomes Property to the Ballantyne Commons Declaration as Lots (all portions of the said Ballantyne Commons Townhomes Property that have been herein subjected to the Ballantyne Commons Declaration as Lots prior to the date hereof, and all portions of the Ballantyne Commons Townhomes Property that may in the future be subjected to the Ballantyne Commons Declaration as Lots pursuant to supplemental declarations to the C:1W!NNTIProfiles1rmckenzie\Temporary Internet Files\OLK2\Dced of Conveyance and Declaration of Easenients for Ballantyne Commons v3.DOC 138872.00012 Ballantyne Commons Declaration, are hereinafter collectively referred to as the "Lots"); and WHEREAS, the Association has been organized pursuant to the Ballantyne Commons Declaration for the purpose of administering the Lots and the portions of the Ballantyne Commons Townhomes Property that have been and wiI! in the future be conveyed to the Association as Common Elements; and WHEREAS, there has been recorded in the Mecklenburg County, North Carolina, Book of Maps, in Book 40, Page 283, that certain Plat Showing Access to Public Right - of -Ways and Recreational Property Serving Belle Vista Condominiums at Charleston Place, dated July 23, 2003, prepared by ESP Associates, P.A. (the "Plat", the PIat being incorporated herein by reference thereto); and WHEREAS, as used in this Deed of Conveyance and Declaration of Easements, the following terms shall have the following meanings: (a) the "Access Roads" shall mean all of those portions of the private right-of-way of John J. Delany Drive, Costigan Lane, Waxberry Drive, Labeau Avenue and Durant Boulevard that are identified on the Plat as being "Access Road"; (b) the "Recreational Property" shall mean those seven individual parcels of land (consisting, respectively, of.557'acres, .438 acres, .265 acres, .849 acres, .602 acres, .984, acres and 5.309 acres) that are identified on the Plat as being "Recreational Property"; and (c) the "Belle Vista Property" shall mean that 23.368 acre portion of the property that is identified on the Plat as being the"Belle Vista Property"; and ' WHEREAS, Pulte is the owner of the Access Roads, the Recreational Property and the Belle Vista Property; and • WHEREAS, Pulte intends to construct on the Belle Vista Property a condominium under the North Carolina Condominium Act to be called "Belle Vista Condominium", which will contain no more than three hundred twenty (320) condominium units (each of the condominium units which may be constructed on the Belle Vista Property is hereinafter referred to as a "Condominium Unit"); and WHEREAS, Pulte desires to convey the Access Roads and the Recreational Property to.the Association as "Common Elements" within the meaning of the BalIantyne Commons Declaration; and 2 C:1Wl;NNI\ProfileslrmckenzielTernporary Internet Files10LK21Deed of Conveyance and Declaration of Easements for Ballanlyne Commons_v3.Dt7C I38872.0OOI2 WHEREAS, Pulte desires to grant to the Lots certain easement rights to and over the Belle Vista Property and desires to reserve unto the Belle Vista Property and the future owners of the Condominium Units certain easements and rights of use in, to and over the Access Roads and the Recreational Property; and WHEREAS, the Association desires to grant to Pulte for the benefit of the Belle Vista Property and the future owners of the Condominium Units an access easement over a road currently located on a certain portion of the Common Elements; and NOW, THEREFORE, Pulte for and in consideration of the sum of TEN DOLLARS, in hand paid, the receipt whereof is hereby acknowledged, has bargained, sold, and by these presents does remise and convey to the Association, as "Common . Elements", as that term isdefined in the Ballantyne Commons Declaration, the Access Roads and the Recreational Property, subject, however, to the terms and provisions of this Deed of Conveyance and Declaration of Easements. TO HAVE AND TO HOLD the Access Roads and the Recreational Property, together with all and singular the rights, members and appurtenances thereof; to the same being, belonging or in anywise appertaining to the only proper use, benefit and behalf of the Association, forever in fee simple. THIS DEED is made and delivered by Pulte and accepted by the Association pursuant to the terms and provisions of Article III, Section 1 of the Ballantyne-Commons Declaration. Accordingly, the Access Roads and the Recreational Property constitute "Common Element?, within the meaning of the Ballantyne Commons Declaration. THIS CONVEYANCE is made subject to all matters existing of record in regard to the Access Roads and the Recreational Property including, without limitation, the rights and easements set forth in Section 3 of Article III of the Ballantyne Commons Declaration, and that certain Road Easement from Pulte in favor of The Terraces at Ballantyne, LLC, dated October 8, 2003, recorded in Booklli j7 Page Mecklenburg County, North Carolina Deed Records, and that certain Easement and Land Development Agreement, by and between The Terraces at Ballantyne, LLC, Ballantyne Commons, LLC, and Pulte, dated December 29, 2000, recorded in Book 11823, Page 34, Mecklenburg County, North Carolina Deed Records (the aforesaid Road Easement and Easement and Land Development Agreement being hereinafter collectively referred to as the "Commercial Tract Easements"). THIS CONVEYANCE is also made subject to the easements and rights hereinafter set forth. AND, SUBJECT TO the aforesaid title matters, Pulte will warrant and forever defend the right and title to the Access Roads and Recreational Property unto the 3 C:1WJNN'Mrofileshnckenzie\Temporary Internet Files\OLK21Deed of Conveyance and Declaration of Basements few Ballantyne Commons v3.DOC 138872.000I2 Association against the claims ofall persons claiming, owning or holding by, through or under Pulte. 1. INCORPORATION OF PREAMBLES AND CERTAIN DEFINED TERMS. The preambles to this Deed of Conveyance and Declaration of Easements are hereby incorporated herein by reference thereto. All defined terms used in this Deed of Conveyance and Declaration of Easements which are defined in said preambles shall have the meanings set forth for the same in the said preambles. In addition, any defined teen which is used in this Deed of Conveyance and Declaration of Easements without being defined herein, and which is defined in the Ballantyne Commons Declaration, shall - - have the meaning ascribed to the same in the Ballantyne Commons Declaration. 2. ACCESS ROADS EASEMENT. The Access Roads are hereby conveyed, and this deed is subject to, and Pulte does hereby reserveto itself, its successors and assigns, for the benefit of the Belle Vista Property, a perpetual, non-exclusive easement over, across and through the Access Roads, for the purpose of vehicular and pedestrian access and ingress and egress: (a) to and from the Belle Vista Property and the existing rights -of -way of Ballantyne Commons Parkway and U.S. Highway 521, aild (b) to, from and among the Belle Vista Property and all portions of the Recreational Property. The easement reserved in this Paragraph 2 shall be interpreted to permit usage of the Access Roads by (i) Pulte, (ii) all owners of all Condominium Units, and (iii) all pers ns who shall have any right to occupy or otherwise go onto the Belle Vista Property The exercise of the easement rights set forth in this Paragraph 2 may be subject to such traffic rules as the Association may adopt in regard to the Access Roads, provided that such traffic rules are applied equally and in a non-discriminatory manner to both the owners of the Lots and the owners of the Condominium Units.> 3. EXISTING ACCESS ROAD EASEMENT. The Association grants, conveys, -declares, imposes and establishes, in favor of Pulte, its successors and assigns, for the benefit of the Belle Vista Property, a perpetual, non-exclusive easement over, across and through the real property that was conveyed to the Association by Bissell Ballantyne, LLC, MRI Ballantyne Limited Partnership and CMH-DWH Ballantyne, LLC by that certain North Carolina Special Warranty Deed, dated February 6, 2002, recorded in Book 15589, Page 193, Mecklenburg County, North Carolina Deed Records (said -real property being hereinafter referred to as the "Existing Access Road"), for the purpose of vehicular and pedestrian access and ingress and egress to and from the Belle Vista Property and the existing right-of-way of U.S. Highway 521. The easement granted in this Paragraph 3 shall be interpreted to permit usage of the Existing Access Road by (i) Pulte, (ii) all owners of all Condominium Units, and (iii) all persons who shall have any right to occupy or otherwise go onto the Belle Vista Property. The exercise of the easement rights set forth in this Paragraph 3 may be subject to such traffic rules as the Association may adopt in regard to the Existing Access Road, provided that such traffic 4. C:IwrNllTll'rofilealrmckenxieNTemporary Internet Files\OLK2\Deed of Conveyance and Declaration of Easements for Ballantyne C•omroons_v3.DOC 138872.00012 rules are applied equally and in a non-discriminatory manner to both the owners of the Lots and the owners of the Condominium Units. 4. UTILITY EASEMENTS IN COMMON ELEMENTS. (a) The Association (in regard to the Common Elements which are owned by the Association on the date hereof) and Pulte (in regard to the Access Roads, the Recreational Property and the other portions of the Ballantyile Commons Townhomes Property that Pulte shall in the future convey to the Association as Common Elements) grant, convey, -declare, reserve, impose and establish, in favor of Pulte, its successors and assigns, for the benefit of the Belle Vista Property, a permanent, non-exclusive right and easement for the purpose of laying, burying, constructing, operating, maintaining, removing, relocating, replacing, using and repairing, lines, pipes and conduits necessary for the provision of utility services (including, but not limited to, electric, water, telephone, sanitary sewer, gas and cable television) to the Belle Vista Property, in, to, under, across and through all of the Access Roads, Recreational Property and the existing and future Common Elements. The easement rights herein set forth shall also include a temporary, non-exclusive right and easement, for the purpose of the initial construction of the lines, pipes and conduits described herein, aver so much of the Common Elements as is reasonably necessary for such construction, said right and easement to terminate upon completion of the construction of said lines, pipes and conduits. The exact locations of said utility easements shall be determined by Pulte acting in good faith so that the same will minimize the interference with the operation and maintenance of the Common Elements. It is the intent of the parties hereto that the easements in this Paragraph 4 shall apply with equal effect to the Common Elements which are owned by the Association on the date hereof, the Access Roads and Recreational Property hereby conveyed to the Association, and the Common Elements which shall be conveyed to the Association in the future. Accordingly, Pulte does hereby reserve to itself, its successors and assigns, for the benefit of the Belle Vista Property, in, to, under, across and through the Access Roads and the Recreational Property, the easements described in this Paragraph 4. (b) It is hereby agreed by Pulte and the Association that the rights and easements granted and reserved in this Paragraph 4 may be assigned by Pulte to the City • of Charlotte or Charlotte -Mecklenburg Utility Department ("CMUD") for the purpose of dedicating any or all of the lines, pipes and conduits constructed by Pulte to public use, operation and maintenance. (c) In the event that at any time the provider of any utility service to the Belle Vista Property shall submit an invoke to the Association (or. any management firm employed by the Association) for such utility service, which invoice shall include the utility service that was so provided to the Belle Vista Property, then the Belle Vista 5 CAWINMMrotikeermekenziel7'emporary Internet FileslOLK2\Dced of Conveyance and Declaration of Easements for Ballantyne Commons v3.DQC 138872.00012 Condominium Owners Association, Inc. (the "Condominium Association") shall reimburse the Association (or such management firm) for the portion of the amount set forth in such invoice that is for the utility service that was so provided to the Belle Vista Property. Notwithstanding anything stated to the contrary in this Paragraph 4, in the • event that the Condominium Association shall fail to so reimburse the Association (or management firm) for more than thirty (30) days the date on which the Condominium Association shall have received the written demand for such reimbursement from the Association (or management firm), then the right of the owners of the Belle Vista Property to exercise the easement rights set forth in this Paragraph 4 shall be suspended and shall remain suspended for so long as the Condominium Association shall fail to make such reimbursement payment. 5. DRAINAGE EASEMENT. Pulte hereby grants, conveys declares, imposes and establishes, in favor of the Association and the owners of the Lots, a ' permanent,.non-exclusive right and easement for the discharge of storm water from the Lots and the Common Elements onto the Belle Vista Property. 6. UTILITY EASEMENTS IN BELLE VISTA PROPERTY. Pulte hereby grants, conveys, declares; imposes and establishes, in favor of the Association .and the owners of the Lots, a permanent, non-exclusive right and easement for themaintenance, repair and use of all Iines, pipes and conduits which are existing in the Belle Vista Property on the date hereof and which are necessary for the provision of utility services (including electric, water, telephone, sanitary sewer, gas and cable television) to the Common EIements and the Lots. 7. RECREATIONAL PROPERTY EASEMENT. The Recreational Property is hereby conveyed, and this deed is hereby made subject to, and Pulte does hereby reserve to itself, its successors and assigns, for the benefit of the Belle Vista Property, a perpetual, non-exclusive easement for use and enjoyment of the Recreational Property. The foregoing easement shall benefit the Condominium Units, and such easement shall be exercisable by all persons who shall at any time have the lawful right to occupy any Condominium Unit, subject to the "Rules and Regulations" (as that term is defined hereinbelow), provided that the Rules and Regulations are applied and enforced against the occupants of the Condominium Units and the occupants of the Lots in a uniform and non-discriminatory manner. • Notwithstanding the foregoing, the exercise of the easement rights set forth in this Paragraph 7 shall be subject to the provisions of Paragraph 12 hereof. • The Association shall have the right to adopt and promulgate rules and regulations governing the use of the Recreational Property (the "Rules and Regulations"), provided that all such Rules and Regulations shall be subject to the prior approval of the Condominium Association, which. approval shall not be unreasonably withheld or 6 CAYTI I rotiies1rjnekenzfelTemporary Internet Files\OLK2\Deed of Conveyanco•and T pDeclaration of Easements for Bailaniyne Commons v3:DOC 138872.40012 delayed, In the event that the Association and the Condominium Association shall fail at any time to agree upon the adoption of any Rule or Regulation, the matter shall be resolved through arbitration, as provided for in Paragraph 13 hereof. The Rules and Regulations shall be enforced by the Association against the occupants of the Condominium Units and the Lots in a.uniform and non-discriminatory manner. In no event shall any rule or regulation be adopted by the Association governing the use of the Recreational Property which intentionally favors the occupants of the Lots. 8. PEDESTRIAN EASEMENT IN BELLE VISTA PROPERTY. Pulte hereby grants, conveys, declares, imposes and establishes, in favor of the Lots, a permanent, non-exclusive right and easement for pedestrian access onto all portions of the Common Elements of the Belle Vista Condominium that are not Limited Common Elements and that are designed for pedestrian access. The Condominium Association shall have the right to limit the locations on the boundary of the Belle Vista Property at which the owners of the Lots shall have the right to exercise the easement herein set forth to walk onto the Belle Vista Property, provided that such access points shall always include at least (i) one point at the location at which the Belle Vista Property connects with an alley situated between Lot Nos. 9 and 10, Ivy Ridge, as shown and depicted on the Plat offIvy Ridge, recorded in the Register of Deeds of Mecklenburg County, North Carolina, in Plat Book 37 , Page 659 , and (ii) one point which shall adjoin the main vehicular entrance to the Belle Vista Condominium. The exercise of the easement right herein set forth to walk upon the Belle Vista Property shall be subject to such rules regarding pedestrian activity on the Belle Vista Property as shall be adopted from time to time by the Executive Board of the Condominium Association, provided that such rules shall apply in an equal and non-discriminatory manner against the owners of the Condominium Units and the owners of the Lots. 9. VEHICULAR ACCESS UNTO BELLE VISTA PROPERTY. Pulte hereby grants to the Association an easement for vehicular access onto the portions of the Belle Vista Property which shall be designed for vehicular traffic, said easement, however, to be limited to a total of no more than nine (9) passenger vehicles. The easement right set forth in this Paragraph 9 shall be exercisable only the members of the Executive Board of the Association and by other individuals who shall be members of a committee appointed -by such Executive Board in connection with the enforcement of architectural restrictions in regard to the Belle Vista Property. In the event that the Condominium Association shall at any time install a gate to restrict vehicular access to the Belle Vista Property, and such gate shall be operatedby any mechanical or electrical device which shall be furnished to the owners of the Condominium Units, then the Condominium Association shall furnish nine such devices to the appropriate officer of the Association so as to enable the members of the Executive Board of the Association and/or the members of the aforesaid committee to exercise the easement herein set forth. 7 C:iWINNNrofileslrmckenzieYremporary Internet Files\OLK2\Deed of Conveyance and Declaration of Easements for • Ballantyne Commons_v3.DOC 138872.00012 • I0. RESTRICTIVE COVENANTS REGARDING RECREATIONAL PROPERTY. (a) The Association, its agents, successors and assigns, shall at all times keep the Recreational Property in good repair and fully operational as the park, recreational and pool facility for which the Recreational Property has been developed. . The Association shall be responsible for the payment of all costs and expenses which shall be incurred in connection with the repair, replacement and operation of the Recreational Property, In the event the Association fails to so maintain and operate the Recreational. Property as herein required, the Condominium Association shall have the right to notify the Association in writing of any conditions which cause the Recreational Property to fail to be in the condition required by this subparagraph (a), and the Association shall have thirty calendar days to remedy such condition, subject to force majeure and other delays beyond its reasonable control. In the event that the Association shall fail to remedy any such condition within said thirty day period, the Condominium Association shall have the right to perform such repairs on behalf of the Association. Upon completion of such repairs, the Association shall reimburse the Condominium Association for all costs and expenses which were actually incurred by the Condominium Association in the Performance of such repairs. (b) The use of the Recreational Property is hereby restricted to use as recreational property in the manner for which the same is being used on the date of this Deed of Conveyance and Declaration of Easements. The restrictions set forth herein on the use of the Recreational Property shall be a permanent charge thereon and shall run with the Recreational Property. I I . MAINTENANCE OF RECREATIONAL PROPERTY, ACCESS ROADS AND EXISTING ACCESS ROAD PRIOR TO SALE OF CONDOMINIUM UNITS. The Recreational Property and the Access Roads are hereby conveyed to the Association subject to the restriction that prior to the date on which Pulte shall have conveyed all of the Condominium Units to individual owners thereof, the Association shall maintain all portions of the Recreational Property, the Access Roads and the Existing Access Road in a neat and attractive condition that is satisfactory to both Pulte and the Condominium Association. In the event that the Association shall fail to maintain any portion of the Recreational Property, the Access Roads or the Existing Access Road in a manner that is satisfactory to both Pulte and the Condominium Association, then Pulte and the Condominium Association shall each have the right, exercisable by either of them or through their agents or employees, and aftei giving the Association at least five (5) days' notice and an opportunity to correct the unsatisfactory condition, to enter upon the applicable portion of the Recreational Property, the Access Roads or the Existing Access Road and correct the unsatisfactory condition, including, without limitation, cutting the grass, weeds, and other vegetation, removing dead trees, 8 C:1WTt3N7 'rofleslrmckcnzielTunporary Internet Files10LK21Deed of Conveyance andDeclaration•of Basements for allantyne Commons v3.DOC 138872.00012 shrubs and other plants, and installing plants and other vegetation that is satisfactory to Pulte or the Condominium Association, as the case may be. The Association shall be liable to whichever of Pulte or the Condominium Association shall have corrected the unsatisfactory condition for all direct and indirect costs as may have been incurred by Pulte or the Condominium Association, as the case may be, in connection with the performance of such work. All such costs shall be paid to Pulte or the Condominium Association, promptly upon the demand of the party to whom the same shall be due. In addition, in the event that such correction work shall have been performed by the Condominium Association, the Condominium Association shall have the right to deduct the amount of costs and expenses that it shall have incurred in connection with performing such corrective work from the amounts next coming due from it pursuant to the provisions of Paragraph 12(b) of this Deed of Conveyance and Declaration of Easements. The responsibility of the Association under this Paragraph 11 to maintain the Recreational Property, the Access Roads and the Existing Access Road in a manner that is satisfactory to Pulte and the Condominium Association shall be in addition to all of the Association's responsibilities under and pursuant to the Ballantyne Commons Declaration and this Deed of Conveyance and Declaration of Easements. From and after the date.on which Pulte shall have conveyed all of the Condominium Units to individual owners thereof, the Association shall have no further responsibility to Pulte or the Condominium Association pursuant to this Paragraph 11 (provided, however, that the Association shall thereafter remain responsible for the maintenance of the Recreational Property, the Access Roads and the Existing Access Road pursuant to the provisions of the Ballantyne Commons Declaration and this Deed of Conveyance and Declaration of Easements). 12. EXPENSES OF ACCESS ROADS AND RECREATIONAL PROPERTY. (a) No later than forty-five days prior to the commencement of each fiscal year of the Association, the Association shall provide to the Condominium Association a budget for the operation, maintenance and repair of the Existing Access Road, the Access Roads and the Recreational Property for the ensuing fiscal yearof the•Association (the "Budget"). Each Budget shall include, at a minimum, the estimated costs and expenses of repairing and maintaining all landscaping and all improvements located upon the Recreational Property in the manner required by Paragraph 10(a) hereof, all governmental charges, taxes and assessments which shall be levied against the Existing Access Road, the Access Roads and the Recreational Property; the operation of the Recreational Property, including the salaries and benefits costs of all individuals employed in connection with the same; the provision of all utilities to the Existing Access Road, the Access Roads and the Recreational Property; keeping the landscaping on the Existing Access Road, the Access Roads and'the Recreational Property in good condition and replanting the same as determined to be appropriate by the Executive Board of the Association, and which also fulfills the requirements of Paragraph 10(a) hereof and, if applicable, of Paragraph 11 hereof; all costs and expenses of irrigation of the landscaping 9 CAWINNT►ProfiieslrmckenzielTcmporary lnternct Fi1es\OLK21Deed of Conveyance and Declaration of Easements for Ballantyne Commons v3.DOC • 138872.00012 on the Existing Access Road, the Access Roads; the premiums for all policies of property and liability insurance maintained by the Association with respect to the Existing Access Road, the -Access Roads and the Recreational Property; premiums for fidelity bonds which the Association may obtain for individuals who shall be handling funds of the Association which relate to the Existing Access Road, the Access Roads and the Recreational Property; and the maintenance of reserves for the repair and replacement of the improvementslocated on the Existing Access Road, the Access Roads and the Recreational Property. In regard to all of the expenses which shall be included in any Budget which are for the provision of goods or services to the Association in regard to Common Elements in addition to the Existing Access Road, the Access Roads and the Recreational Property (including, but not limited to, the costs of employing professional management for the Association and for maintaining liability insurance for the Association), the portion of such expenses which shall be included in the Budget shall be based upon the Association's good faith estimate of the portion of such expenses that is properly allocable to the Existing Access Road, the Access Roads and the Recreational Property (in contrast to'the portion of such expenses that is properly allocable to the other Common Elements). Each Budget shall also take into account the amounts that shall be projected to be received by the Association pursuant to the terms and provisions of the Commercial Tract Easements. Each Budget shall be subject to the approval of the Condominium Association, which approval shall not be unreasonably. withheld. Within fifteen days after the Condominium Association shall be provided with each proposed Budget from the Association, the Condominium Association shall notify the Association whether it approves or disapproves the same, and, in the event that the Condominium Association shall disapprove the same, such notification shall specify the aspects of the proposed Budget which shall have caused the Condominium Association to have disapproved the same. In the event of the disapproval by the Condominium Association of any Budget proposed by the Association, the.parties shall negotiate in good faith to attempt to agree upon the Budget. In the event that at the date which is five days prior to the commencement of the applicable fiscal year of the Association the parties shall have failed to agree upon the Budget for such fiscal year, then the amount of the monthly payment to be made by the Condominium Association to the Association during such fiscal year pursuant to subparagraph (b) hereof shall remain the same as for the preceding fiscal year of the Association and the dispute regarding the Budget shall be submitted to arbitration pursuant to the provisions of Paragraph 13 hereof. At such time as the Budget shall be finally established -through such arbitration; as provided for in Paragraph 13 hereof, the amount of the monthly payment to be made by the Condominium Association to the Association during the remaining portion of the applicable fiscal year of the Association shall be increased or decreased as necessary to account for the Budget that was so finally established. 10 C:1W1NNINProtileslrmckenzielTemperary Internet Fi1es10LK21Deed of Conveyance and Declaration of Easements far Bailantyne Commons v3.DOC 138872.00012 (b) On the first day of each month during each fiscal year of the Association, the Condominium Association shall pay to the Association 4.61% of the amount of the Budget for such fiscal year, taking into account the amount that is projected to be receivedby the Association pursuant to the Commercial Tract Easements. The Condominium Association shall be fully liable to the Association for all amounts as shall be owed to the Association pursuant to the provisions of this Paragraph (b). (c) In the event that at any time the Condominium Association shall fail to pay to the Association the amount owed by it pursuant to the provisions of subparagraph (b) hereof, and said failure shall continue for more than five days after the Association shall have given the Condominium Association notice of such failure, then, in addition to the liability which the Condominium Association shall have to the - Association for the payment of such amount, the right of the occupants of the Condominium Units to exercise the easement provided for in Paragraph 7 hereof shall be suspended and shall remain suspended until all amounts due from the Condominium Association to the Association (including all default interest hereinafter provided for) shall have been paid in full. All amounts due from the Condominium Association to the Association pursuant to the provisions of subparagraph (b) hereof which are not paid within five days after the due date therefor shall bear interest at the lesser of (i) three percent (3%) over the prime rate published from time to time in The Wall Street Journal as the "prime rate", or if no such publication exists, a similar publication selected by the Association,and (ii), the maximum rate of interest allowed by law, accruing from the due date until paid in full. , 13. ARBITRATION OF CERTAIN DISPUTES. In the event that the Association and the Condominium Association shall' at any time be unable to agree upon (a) the substance of any Rules and Regulations which the Association shall desire to adopt pursuant to Paragraph 7 hereof, (b) any amount which the Association shall maintain is due it from the Condominium Association pursuant to the provisions of Paragraph 4(c) hereof; or (c) a Budget pursuant to Paragraph 12 hereof, then such dispute may be submitted to mandatory and binding arbitration by either party, and, in the case of a dispute regarding the Budget which shall remain unresolved on the fifth day preceding the commencement of the fiscal year of the Association, shall be submitted to mandatory and binding arbitration, as provided for in Paragraph 12(a) hereof. The arbitration shall be pursuant to the then prevailing Commercial Arbitration Rules (the "Rules") of the American Arbitration Association ("AAA"). -The dispute shall be resolved by a single arbitrator selected pursuant to the rules of the AAA. The arbitration hearing shall be held in metropolitan Charlotte, North Carolina. The arbitrator will have no power or authority, under the AAA or otherwise, to relieve the parties from their agreement hereunder to arbitrate. Any award rendered by the arbitrator will be final, conclusive and " binding upon the parties and any judgment hereon may be entered and enforced in any court of competent jurisdiction. Each party will bear a pro rata share of all fees, costs and 11. C:IWINN71ProfileslrmckenzielTemporary Internet Files\OLK2\Deed of Conveyance and Declaration of Basements for Ballantyne Commons_v3.DOC 13 8872.00012 expenses of the arbitrator, and notwithstanding any law to the contrary, each party will bear all the fees, costs and expenses of its own attorneys, experts and witnesses; provided, however, that in connection with any judicial proceeding to compel arbitration • pursuant to this Agreement or to confirm, vacate or enforce any award rendered by the arbitrator, the prevailing party in such a proceeding will be entitled to recover reasonable attorneys' fees and .expenses incurred in connection with such proceedings, in addition to any other relief to which it may be entitled. 14. NOTICES. All notices, demands and communications permitted or required to be given hereunder shall be in writing and shall be deemed duly given when sent by either certified mail or overnight carrier to the agent for service of process, as indicated on the records of the North Carolina Secretary of State, of the party which is to receive such notice, demand or communication. 15. DURATION, All of the terms, easements, provisions, charges, restrictions and covenants set forth in this Deed of Conveyance and Declaration of Easements shall run with and bind the land, shall be and shall remain in effect, and'shall inure to the benefit of, and beenforceable by, Pulte, the Association, the Condominium Association, and by the owner of any Lot or Condominium Unit, their respective legal representatives, heirs, successors and assigns, perpetually. 16. CONSTRUCTION'OF AGREEMENT. This Deed of Conveyance and . Declaration of Easements shall be construed according to the laws of the State of North Carolina. Paragraph headings relating to the contents of particular paragraphs are inserted only for the purpose of convenience and are not to be construed as parts of the particular paragraphs to which they refer. The failure of either party to insist upon strict performance of any of the covenants or conditions of this Deed of Conveyance and Declaration of Easements or to exercise any option herein conferred in any one er more instances shall not be construed -as a waiver or relinquishment of any such covenants, conditions or options, but the same shall be and remain in full force and effect. 17. TIME IS OF THE ESSENCE. For all of the dates stated in this Deed of Conveyance and Declaration of Easements, time is oldie essence. 18. ADDITIONAL DOCUMENTATION. The parties agree that they shall execute and deliver any documents reasonably requested by the other party to effectuate this Deed of Conveyance and Declaration of Easements, and that they shall take whatever steps arereasonably required to carry out both the letter and the spirit of this Deed of Conveyance and Declaration of Easements. IN WITNESS WHEREOF, this Deed of Conveyance and Declaration of Easements is executed, and shall be legally binding upon the parties, as of the date first specified above. 12 C:IWINN'MrofilermckenzielTemporary Internet Eiles\OLK2\Deed of Conveyance and Declaration of Easements For Baltantyna Commons v3.DOC 138872.00012 PULTE (TOME CORPORATION rrY Thomas . Bruce Attomey-in-Fact STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG :helm . O. ( (Jf , a Notary Public for said County and State do hereby certify that Thomas Br , personally appeared before me this day and .acknowledged the due execution of the foregoing instrument in his capacity as Attorney - in -Fact of Pulte Home Corporation, a Michigan corporation. WITNESS my hand and notarial seal, this hay ' O r;6er , 2003. Notaty Public .5,a_ Mc My,9ommission Expires: _ARIAL.SEAL-STAMP] BALLANTYNE COMMONS TOWNHOMES ASSOCIATION, INC. STATE OF NORTH CAROLiNA COUNTY OF Tree -fate, �6� 0. YYLC444(ens Notary Public for said Countyand State do hereby certify that David Cushing, penatty appeared before me this day and acknowledged the due execution of the foregoing instrument in his capacity as President ofBallantyne Commons Townhomes Association, a. NC non --profit corporation. 13 C:IWINNT Profiles4mekenzie\Temporary Internet Files\OLK2\Deed of Conveyance and Declaration of Easements for Ballantyne Commons v3.DOC 138E72.00012 WITNESS my hand and notarial seal, this .. j1�.ffllf ll lif , • 's�,l'Q, Ixrnission Expires: f �i�Y • 1• ii;f e ,�0 I (A? SEAL -STAMP] ire �aN cav 14 Notary Public Sher , 2003. c0 0rc� C:IWINN1\Profiles\rmckenzie\Temporary Internet Files\OLK2\Deed of Conveyance and Declaration of Easements for Baliantyne Commons_v3.DOC 138872.00012 STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG 1, - i - -( �O. mcA L1 tot , a Notary Public for said County and State, do hereby certify that Thomas W. Bruce►ttorney in -Fact for Pulte Home Corporation, a Michigan corporation, personally appeared before me this day and being by me duly sworn, says that he executed the foregoing instrument for and in behalf of Pulte Home Corporation, a Michigan corporation, and that his authority to execute and acknowledge said instrument is contained in an instrument duly executed, acknowledged and recorded in the Office of the Register of Deeds for Mecklenburg County, North Carolina, in Book 13074 at Page 900, and that this instrument was executed under and by virtue of the authority given by said instrument granting him power of attorney; that the said Thomas W. Bruce acknowledged the due execution of the foregoing instrument for the purposes therein expressed for and in behalf of the said Pulte Home Corporation, a Michigan corporation. 4;;;CT:774kZ:NVITNESS my hand and official seal this 10th day of October, 2003. C^ =R. NA, Z AR }► `• VMOtf.+b miission Expires: N CCv`: tt -.1031 STATE OF NORTH CAROLINA COUNTY OF MECKLENBURG V - Notary Public This 10th day of October, 2003, before me, the undersigned Notary public in and for the County and State aforesaid, personally came David Cushing, who, being duly sworn, says that he is President of Ballantyne Commons Townhomes Association, Inc., a North Carolina nonprofit corporation, and that he signed said instrument on behalf of said corporation by its authority duly given. WITNESS my hand and official seal this l Oth day of October, 2003. BALLANTYNE COMMONS/BELLE VISTA BUDGET acknowledge receipt and agreement of the figures presented in this budget and agree to abide by the terms •of the cost share agreement as noted in the "Deed of Conveyance and Declaration of Easements" made the 10th day of October, 2003 by and between Pulte Home Corporation and Ballantyne Commons Townhomes Association, ino. i further acknowledge the two parties agree to the following method of sharing the water expense of the community: Method of Sharing the Water Expense of the Community Because there are 3 water meters that Jointly serve both the common areas and the Individual residential communities In Charleston Place (CP) and Belle Vista (BY), we have agreed that the fair and reasonable division of the water bills between Belie Vista and Charleston Place Is as follows: 1. Water bills from all three meters associated with the community will be totaled together, and the total bill will be altpcated between BV and CP based on the•percentage of the total number of units 000upled. For the purpose of this agreement, an "occupied unit' designation is given to any unit in a building at the lime the first closing In the building oocurs. Example 1: when the first unit in a 2 unit townhome is dosed, both units in That townhome building are considered occupied. Example 2: when the first unit in a 40 unit condominium is closed, all units In that condominium are considered occupied.. 2. This agreement includes ail water used during the construction process: no additional billing will occur. 3. The percentage calculation will be performed by the management company and accessed monthly based on the actual water bill. in the event the utility company does not perform a timely meter reading (for instance, if a 3 month period passes and the bill shows a substantial variance) both sides agree to work in good faith to Insure an accurate allocation. ommens Board of Directors Date f (P Board of Directors President Date • s ing, a e : - +ista ' ondominfums Board of Directors Defer 1-3' 04-