2017-4-20 Deed

04-20-2017
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Brunswick County, NC Register of Deeds page I of 3
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AMENDMENT TO DECLARATION OF
COVENANTS, CONDITIONS AND RESTRICTIONS FOR
SEASCAPE AT HOLDEN PLANTATION MARINA
NORTH CAROLINA — BRUNSWICK COUNTY
THIS AMENDMENT is executed on April 01 2017, by Seascape at Holden Plantation,
LLC, a North Carolina limited liability company ("Declarant").
WITNESSETH:
WHEREAS, the Declaration of Covenants, Conditions and Restrictions for Seascape at
Holden Plantation Marina is recorded in Book 1830, Page1229, Brunswick County Registry (as
may have been amended, the "Marina Declaration") (unless otherwise defined herein, the
definitions in the Marina Declaration shall apply to terms used in the Amendment);
WHEREAS, the Marina Declaration incorporates certain definitions and other terms
contained in the Master Declaration of Covenants, Conditions and Restrictions for Seascape at
Holden Plantation recorded in Book 1347, Page 274, Brunswick County Registry, as amended,
including by Amendment to Master Declaration of Covenants, Conditions and Restrictions for
Seascape at Holden Plantation Annexing Marina, dated September 23, 2003, and recorded in
Book 1830, Page 1224, Brunswick County Registry (collectively, the "Master Declaration");
WHEREAS, as successor in interest to Seascape at Holden Plantation, Inc., the Declarant
hereunder is the Declarant under the Marina Declaration and the Master Declaration;
WHEREAS, pursuant to Article VIII, Section 1 of the Marina Declaration, the Declarant
has the right, so long as it owns any portion of the Marina Basin (defined in Article I of the
Marina Declaration) to make any amendment to the Marina Declaration that corrects an
obvious drafting error or inconsistency;
WHEREAS, as of the date of this Amendment, Declarant owns various portions of the
Marina Basin;

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Brenda M. C lemmons PROP
Brunswick County, IVC Register of Deeds page 2 of 3
WHEREAS, both the Master Declaration (paragraph 3 in the September 23, 2003,
amendment referenced above) and the Marina Declaration (Article II, Section 1) restrict the
sale, conveyance or transfer of a Marina Slip to persons who own a Homesite or a Residential
Condominium Unit in the Development, as those terms are defined in the Master Declaration
and the Marina Declaration, and make null and void any sale, conveyance or transfer to a
person who does not own such a Homesite or Residential Condominium Unit;
WHEREAS, Article II, Section 2 of the Marina Declaration gives Declarant a Right of First
Refusal and an Option to Purchase a Marina Slip, but, while not admitting such, the provisions
could be interpreted to give Declarant those rights only if the proposed purchaser of the Marina
Slip is not an Owner of a Homesite or Residential Condominium Unit in the Development (which
sale, conveyance or transfer would be null and void anyway);
WHEREAS, if such an interpretation were valid (which Declarant does not concede), the
provisions would constitute an obvious drafting error and be inconsistent with both the Master
and Marina Declarations;
WHEREAS, Declarant desires to correct the obvious drafting error or inconsistency in the
Marina Declaration and to make clear the intent (consistent with the interpretation of
numerous individuals who have sought a waiver from Declarant of its rights) that the Declarant
has a right of first refusal or an option to purchase even if the proposed purchaser owns
qualified property in the Seascape development.
NOW, THEREFORE, the Marina Declaration is hereby amended as follows:
1. Article Two, Sections 2 (a) and (b) of the Marina Declaration are hereby deleted in
their entirety and the following substituted therefor:
Section 2. Right of First Refusal and Option to Purchase. Declarant reserves a right
of first refusal and option to purchase each Marina Slip, pursuant to the following terms and
conditions:
(a) Right of First Refusal upon Receipt of Bona Fide Offer. In the event that an Owner
of a Marina Slip (hereinafter, the "Seller") receives a written offer (hereinafter, an
"Offer") from any Person (hereinafter, the "Prospective Purchaser") to purchase such
Marina Slip for cash, the Seller shall give written notice thereof to Declarant, together
with (i) a copy of the Offer, (ii) the full name, address and contact information for the
Prospective Purchaser, and (iii) the street and mailing address, a fax number (if
available) and an email address (if available) for Seller. Declarant shall have the right
to purchase the Marina Slip for the same price, and subject to the same conditions, as
set forth in the Offer. Upon receipt of such written notice, the Declarant shall have
thirty (30) days to exercise the right of first refusal by giving notice to Seller of the
election to exercise such right. If Declarant elects to exercise such right, then the
closing shall be in accordance with paragraph (e) of this Section.
(b) Option to Purchase Upon Other Proposed Sale or Transfer. In the event that a Seller
intends to sell or otherwise transfer title to a Marina Slip, other than pursuant to a
bona fide written offer for cash that is subject to paragraph (a) above, Seller shall give

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Brunswick County, NC Register of Deeds page 3 of 3
written notice thereof to Declarant, including (i) the specific terms of the proposed
sale or transfer, (ii) the full name, address and contact information for the proposed
purchaser or transferee, and (iii) the street and mailing address, a fax number (if
available) and an email address (if available) for Seller. Upon receipt of such written
notice, the Declarant shall have thirty (30) days to exercise an option to purchase the
Marina Slip at the fair market value thereof by giving notice to Seller of the election
to exercise such right. If Declarant elects to exercise such right, then the fair market
value shall be determined in accordance with paragraph (d) of this Section and the
closing shall occur in accordance with paragraph (e) of this Section.
The Marina Declaration, as amended previously and hereby, shall continue in full force and
effect.
Whenever possible each provision of this Amendment shall be interpreted in such a manner as
to be effective and valid; however, if the application of any provision to any person or property
shall be prohibited or held invalid, such prohibition or invalidity shall not affect any other
provision or the application or any provision which can be given effect without the invalid
provision or application, and, to the end, the provisions of this Amendment are declared to be
severable.
IN WITNESS WHEREOF, Declarant has caused this instrument to be duly executed, the
day and first above written.
SEASCAPE AT HOLDEN PLANTATION, LLC
By: K,—XI
Mark A. Saun tM'
ager
STATE OF NORTH CAROLINA
COUNTY OF BRUNSWICK
I certify that the following person personally appeared before me this day, acknowledging to
me that he signed the foregoing document: MARK A. SAUNDERS, as Manager of Seascape at
Holden Plantation, LLC
WITNESS my hand and official seal, this bay
.. OFFICIAL SEAL
eagHARITY L PARSONS
NOTARY PUBLIC
BRUNSUCK CO-UNTY,, NQ
My Commission Expires: 17/0111
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