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DECLARATION
OF
COVENANTS AND RESTRICTIONS
FOR
CEDAR SPRINGS MEADOWS CONDOMINIUMS
THIS DECLARATION OF COVENANTS, CONDITIONS AND
RESTRICfIO~S FOR CEDAR SPRINGS MEADOWS CONDOMINIUMS is made as
of October ~2005, by LDL PROPERTIES, LLC a Wyoming limited liability
company ("Declarant/Developer").
RECITALS
A. The Declarant is the owner of certain real property located in Lincoln
County, Wyoming which is described in Exhibit A attached hereto and made a part
hereof.
B. The name by which this property is to be'identified is the CEDAR
SPRINGS MEADOWS CONDOMINIUMS.
C. The individual condominiums and related common areas will be owned,
managed and maintained by a Wyoming Limited Liability Company serving as the
...
association of owners as provided herein.
D. By this Declaration, it is the intention of the Declarant/Developer to
establish a common scheme and plan for the use, enjoyment, repair, maintenance,
restoration and improvement of the Units, the Common Elements and the Condominium
Common Area Furnishings (as defined in the Definitions) and the interests therein
conveyed or reserved, and for the payment of taxes, assessments, insurance premiums
and other expenses pertaining thereto. Declarant/Developer intends that the owners,
mortgagees, occupants and other persons hereafter acquiring any interest in the
Condominium Property, or any part thereof, shall at all times enjoy the benefits of, and
shall hold, sell and convey their interests subject to the rights, easements covenants,
conditions, resti-ictions and obligations hereinafter set forth, all of which are hereby
declared to'be in furtherance of a general plan to promote and protect the cooperative
aspect of the Condominium Property and are established for the purpose of enhancing
and perfecting the value, desir~bility and attractiveness of the Condominium Property.
The property is hereby made subject to the Wyoming Condominiµm Ownership Act, and
to the covenants, conditions, restrictions, reservations, assessments, charges and liens
contained in this Declaration, all of which shall be enforceable equitable servitudes and
shall run with the land.
NOW, THEREFORE, in furtherance of such intent, Delcarant hereby declares
that the Condominium Property shall be held, conveyed, hypothectated, mortgaged,
encumbered, leased, rented, used, occupied and improved subject to the following
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
1 of 40
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00('697
covenants, conditions and restrictions set forth in this Declaration, as this Declaration
may be amended from time to time, all of which covenants, conditions and restrictions
are declared to be in furtherance of a plan established for the purpose of enhancing and
perfecting the value, desirability and enjoyment of the Property. All of the covenants,
conditions and restrictions contained herein shall constitute covenants running with the
land and equitable servitudes and liens and shall be binding upon and for the benefit of
the Declarant/Developer and each interest in any of the Units and or the Common
Elements conveyed by the Declarant/Developer shall be binding upon and for the benefit
of all parties having or acquiring an interest therefrom including, but not limited to, the
heirs, executors, administrators and assigns of any such parties and all subsequent owners
of such interest.
ARTICLE I
DEFINITIONS
Unless otherwise defined herein, all defined terms shall have the meaning set
forth herein and contained in Exhibit B incorporated with this Declaration.
ARTICLE II
EST ABLISHMENT OF OWNERSHIP INTERESTS
2.1 Condominium Ownership - Division Into Units. As of the recording of
this Declaration, the Condominium Property (excluding the Condominium Common Area
Furnishings) is hereby divided into 122 Units, all of which are mutually Private
Residence Units. DeIcarant, in order to establish a plan of condominium ownership of
the Condominium Property, hereby divides the Condominium Property into the following
elements with the ownership interests therein as set forth below:
Unit;
,
(a) Unit. Each Unit Owner shall own a separate fee simple estate in a
(b) Common Elements. Each Unit Owner owns a non-exclusive
undivided interest in the Common Elements; and
(c) Condominium Common Area Furnishings. All Condominium
Furnishings shall be owned by the Condominium Association.
2.2 Conveyance of a Unit Interest. Each of the following shall be included in
any conveyance of a Unit Interest:
(a) Unit. The right to use and occupy the Unit to which the Unit
Interest corresponds in accordance with this Declaration as well as all other applicable
Governing Instruments; and
DèclaratiOIl of Covenallts alld Restrictiolls
For Cedar Sprillgs Meadows Condomillillms
2 of 40
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(b) Common Elements. A non-exclusive undivided interest in the
Common Elements.
2.3 Severance From Common Elements or Appurtenant Easements. No Unit
Owner shall be entitled to sever his Unit, or any portion thereof, from his undivided
interest in the Common Elements.
ARTICLE III.
INTERESTS, USE RIGHTS AND RESTRICTIONS
3.1 Condominium Property and Common Elements - Interests and Use
Rights. A Unit Owner has the exclusive right to use and occupy such Unit Owner's
Residence, a non-exclusive right to use and enjoy the Exclusive Condominium
Assessment Areas, the Condominium Common Area Furnishings and the Common
Elements, all in accordance with this Declaration and the Governing Instruments.
3.2 Use Restrictions.
(a) Alterations. Additions and Improvements.
(i) Except as required to prevent damage or injury to persons or
property in an emergency no Unit Owner shall make or authorize (without
the prior written consent of the Condominium Association) any
alterations, additions or improvements to the Exclusive Condominium
Areas, or paint, repaint, stain, stucco, texture coat or apply any other
coating or finish to any Residence or any walls, windows or doors
bounding any Residenc{( which such Unit Owner may from time to time
occupy, or remove, alter or replace any portion of the Condominium
Common Area Furnishings.
(ii) Nothing herein shall prevent a Unit Owner of a Private Residence
Unit from removing, altering or replacing any furniture located within his
or her Residence, or from repainting, wallpapering or similarly coating or
refinishing the surfaces of the walls or doors of his or her Unit, or from
recarpeting or otherwise recovering the surfaces of the floors of his or her
Unit. Except for those specific activities permitted above in this Section
3.2(a)(ii), Unit Owner must obtain both the written consent of
Declarant/Developer and the Condominium Association prior to
undertaking any alteration, addition, improvement or maintenance of any
Residence (including, but not limited to, load bearing or other walls,
plumbing other than finish plumbing fixtures) to the extent such alteration,
addition, improvement or maintenance will cost in excess of $5,000.00 or
will require a building permit.
Declaration ofCovenal1ts and Restrictions
For Cedar Springs Meadows Condominiums
3 of 40
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COC699
(iii) the foregoing provisions shall not modify or affect the obligation of
each Unit Owner with respect to the maintenance and repair obligations
set forth in Section 5.1(a) below.
(b) Rules and Regulations. Each Unit Owner, by accepting an
Original Deed or any other transfer of a Unit Interest, as applicable, hereby covenants and
agrees to abide by the Condominium Rules and Regulations.
(c) Use and Occupancy. Use and occupancy of a Unit is limited to
private, residential use (including use by Tenants) any non-residential and/or commercial
use of such Unit by any Unit Owner (except as expressly provided in Section 3.3(b)
below) is prohibited.
(d) Minimum Age Requirement. It is the express intent of Cedar
Springs Meadows Condominiums that said Properties be owned and occupied by persons
fifty (50) years in age and over. The intent of this clause is to provide for a retirement
living community to be occupied by persons who are of normal retirement age. Owners
shall be allowed to have visitors and guests under the age of fifty (50), however, said
persons shall not occupy the Owner's Unit for longer than a fourteen (14) day period of
time during a calendar year.
(e) Discharge of Firearms and Pyrotechnic Devices. The discharge of
firearms shall be prohibited. Pyrotechnic devices shall be allowed during the dates of
July 4 and July 24 only.
(f) Animals. Owners shall not permit animals of of any kind to be
raised, bred or kept in their Unit, except that occupying owners may keep up to one (1)
dog and one (1) cat with the permission of the Association, and other small pets kept
inside are permitted on a reasonable basis, all subject to the limitations set forth herein
and to rules and regulations adopted by the Association from time to time. Any animals
permitted to be kept on the property at any time shall be restrained and controlled at all
times so that they do not cause a nuisance to other owners and do not harass or endanger
wildlife. Occupants of a unit and owners thereof shall be responsible for the immediate
removal and sanitary disposal of any waste left by their pets and those of guests pets
within the boundaries of the Condominium Project.
(i) Dogs at Large. No Owners shall permit their dog to run at large 'at
any time while within the boundaries of the Project. All dogs must be on a
leash and accompanied by their master or master's designate.
3.3 Additional Declarant/Developer's Rights.
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
4 of 40
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(a) Sales. Re-sales. and Related Purposes. Declarant/Developer, for
itself, its successors, assigns, agents, employees, contractors, subcontractors and other
authorized personnel, reserves for a period commencing on the Starting Date and
terminating ten (10) (and, with respect to re-sales of Unit Interests, up to fifteen (15))
years following the Starting Date, the exclusive right in, over and through those portions
of the Condominium Property as reasonably required by Declarant/Developer, (1) to
market and sell the Unit Interests; (2) to maintain customer relations and provide post-
sales service to Unit Owners; (3) to display signs and to erect, maintain and operate, for
sales and administrative purposes, model units and customer relations, customer service
and sales office complex within the Condominium Property; and (4) to show the Units
that have not already been conveyed by an Original Deed. The exercise of such right
shall not unreasonable intetfere with the Condominium Association's use of the
Condominium Property as necessary to petform its duties and obligations pursuant to this
Declaration and the Condominium Rules and Regulations or the/rights of Unit Owners to
use and occupy the Residences or use the Condominium Common Area Furnishings.
(b) Rental of Units.
(i) Unit Owner Rentals. Each Unit Owner (other than
Declarant/Developer, whose rights are set forth in clause (ii) below may
rent out to members of the general public such Private Residence Unit,
provided ,such Unit Owner strictly complies with the terms and relating
thereto in the Condominium Rules and Regulations. For further clarity,
the foregoing authorization for the rental by Unit Owner of their Private
Residence Units shall refer solely to rentals to the general public
conducted by a Unit OW,ner.
(c) Redesignation of Use Areas. Declarant/Developer shall have the
right to redesignate the Use Areas in accordance with Section 2.2 of these covenants and
restrictions.
. (d) Conveyance of Property to the Condominium Association.
Declarant/Developer shall have the right to convey any real or personal property to the
Condominium Association at any time upon not less than thirty (30) days written notice
of the Condominium Association Board, provided that any such property shall be free of
monetary encumb¡:ances as of the date of such conveyance. In the case of real property,
upon such notice and upon the recordation of a grant deed in the Office of the County
Recorder, the Condominium Association hereby covenants to accept, and shall be
deemed to have accepted, the conveyance of such real property. Upon the recordation of
the aforementioned grant deed, all of Declarant/Developer's rights and obligations with
respect to such real property conveyed shall terminate.
Declaration o/Covenants and Restrictions
For Cedar Springs Meadows Condominiums
50/40
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031.6442
COC7¡ìl
(e) Easement through Units. Subject to the terms and conditions of
Section 3.2.4 of this Declaration, Declarant/Developer, for itself and its successors,
assigns, agents, employees, contractors, subcontractors and other authorized personnel
reserves a perpetual, non-exclusive easement in, over and through Units at any
reasonably necessary time, whether or not in the presence of the Unit Owner thereof, to
enter upon any Residence for the purpose of (1) making emergency repairs therein, (2)
abating any nuisance or any dangerous, unauthorized, prohibited or unlawful activity
being conducted or maintained in such Residence, (3) protecting property rights and
welfare of an Unit Owner or Permitted User, (4) maintaining or repairing the topside and
underside of the horizontal surfaces and the interior of the vertical surfaces of the
balconies and patios contiguous and related to each Residence and any hot tubs located
thereon, or (5) for any other purpose reasonably related to the exercise of the rights and
obligations of Declarant/Developer under this Declaration. Such right of entry shall be
exercised in such a manner as to avoid any unreasonable or unnecessary interference with
the possession, use and enjoyment of the rightful occupant of such Unit and shall be
preceded by reasonable notice to such occupant in the event of entry into a Residence,
whenever the circumstances permit.
(f) Right to Annex Additional Condominium Property. For as long as
Declarant/Developer owns a Unit Interest, Declarant/Developer may annex additional
property as Condominium Property which shall be effected by recording in the Office of
the County Recorder a "Declaration of Annexation" which shall contain (i) a legal
description of the parcel being annexed and the location thereof, and (ii) such other terms
and conditions as Declarant/Developer deems advisable or necessary; provided however..
that such terms and conditions shall not be inconsistent or in conflict with the terms and
provisions hereof nor shall such terms and conditions adversely or materially affect the
interests of the Unit Owner hereunder, , Upon such annexation and at all times thereafter,
this Declaration shall govern the ownership, use, enjoyment, repair, maintenance,
restoration, improvement and transfer of such annexed property. Assessments on such
annexed property shall commence on the date on which the Declaration of Annexation is
recorded in the Office of the County Recorder. Notwithstanding anything to the contrary
herein, the Condominium Association shall not be obligated to furnish maintenance or
other servic~s to such annexed property until Assessments thereon are commenced.
3.4 Condominium Association Easements.
(a) Grant of Easement to the Condominium Association. The
Condominium Association, for itself, its successors and assigns, and its and their agents,
employees, contractors, subcontractors, and other authorized personnel, shall have the
right and is hereby granted, for so long as the Condominium Association or its successors
and assigns shall be required hereunder to manage and maintain the Condominium
Property, a non-exclusive easement in gross in, over and through the Condominium
Property for the management, operation, repair and maintenance of the Condominium
Property; provided, however, that use of such easement shall not (A) unreasonably
Declaration o/Covenants and Restrictions
For Cedar Springs Meadows Condominiums
60/40
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interfere with or diminish the rights of Unit Owners, Permitted Users or
Declarant/Developer to occupy the Residences, (B) to use the Common Elements and the
Condominium Common Area Furnishings, or (C) interfere with or diminish the rights of
Declarant/Developer under this Declaration. In amplification and not in limitation
thereof, the Condominium Association and their respective successors and assigns shall
have the right at any reasonably necessary time, whether or not in the presence of the
Unit Owner thereof, to enter upon any Residence for the purpose of (1) making
emergency repairs therein, (2) abating any nuisance or any dangerous, unauthorized,
prohibited or unlawful activity being conducted or maintained in such Residence, (3)
protecting property rights and ~elfare of any Unit Owner or Permitted User, (4)
maintaining or repairing the topside and underside of the horizontal surfaces and the
interior of the vertical surfaces of the balconies and patios contiguous and related to each
Residence and any hot tubs located thereon, or (5) for any other purpose reasonably
related to the performance by the Condominium Association, of its duties and obligations
under the terms of this Declaration as applicable. Such right of entry shall be exercised in
such a manner as to avoid any unreasonable or unnecessary interference with the
possession, use and enjoyment of the rightful occupant of such Residence and shall be
preceded by reasonable notice to such occupant in the event of entry into a Residence,
whenever the circumstances permit; provided, however, the use of such easements shall
not unreasonably interfere with the rights of Unit Owners to use and occupy their
respective Residences or use the Condominium Common Area Furnishings.
000-702
(b) Easements Granted by the Condominium Association. The
Condominium Association shall not grant any easement within the Condominium
Property without the express written consent of Declarant/Developer.
3.5 Utility Easement to Unit,Owners. Whenever sanitary sewer connections
and/or water connection or cable television, electricity, gas or telephone lines are
. installed within the Condominium Property, which connections serve more than one
Residence, each Unit Owner served by such connections shall have a non-exclusive
easement for, and be entitled to the full use and enjoyment of, such portions of such
connections or lines as may serve or be needed to serve such Unit Owner's Residence. In
the event of a dispute with regard to such easement or with respect to the sharing of the
cost thereof, then upon written request of one of the Unit Owners addressed to the
Condominium Association the matter shall be submitted to the Condominium
Association Board, which shall decide the dispute, and the decision of the Condominium
Association Board shall be final and conclusive on the parties.
3.6 Easements for Encroachments. The Project and all portions of it are
subject to easement hereby created for encroachments between the Units as follows:
(i) In favor of Declarant/Developer so that it shall have no legal
liability when any part of the Project encroaches upon a Unit;
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
70f40
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000703
(ii) In favor of each Unit Owner so that the Unit Owner shall have no
legal liability when any part of such Unit Owner's Unit encroaches upon
another Unit; and
(iii) In favor of Declarant/Developer, each Unit Owner, the
Condominium Association for the maintenance and repair of such
encroachments. Encroachments referred to in this Section 3.6 include, but
are not limited to, encroachments caused by error or variance from the
original plans in the construction of the Project or any Unit constructed 011
the Project by error in the Condominium Plat, by settling, rising or shifting
of the earth, or by changes in position caused by repair or reconstruction
of any part of the Project. Such encroachments shall not be considered to
be encumbrances upon any part of the Project. Such encroachments shall
also include encroachments caused by reconstruction of the Project
provided such reconstruction is done in substantial conformity with the
location of the Project prior to such reconstruction.
3.7 Covenants Running With the Land. Each of the easements provided for in
this Declaration shall be deemed to be established upon the recordation of this
Declaration, and shall thenceforth be deemed to be covenants running with the land for
the use and benefit of the Units and the Unit Owners thereof, whether or not such
easements are set forth in the Original Deeds to the Units or any other subsequent
conveyance of a Unit Interest. Each Easement set forth herein shall survive the
termination of this Declaration.
3.8 Transfer of Interest. No Unit Owner shall sell, assign, transfer,
hypothecate or encumber less than all qf his or her Unit Interest; provided, however, that
nothing herein contained shall (i) limit the right of Declarant/Developer and its
successors and assigns to sell Units as contemplated herein or (ii) restrict the manner in
which title to the Unit Interest may lawfully be held under Wyoming law (e.g., joint
tenants, tenants-in-common, or the like), Except as provided under clause (i) above, any
sale, assignment, transfer, hypothecation or encumbrance by any Unit Owner of less than
all of his or her interest in his or her Unit Interest shall be null, void and of no effect. The
transfer of any Unit Interest shall operate to transfer to the new owner of the Unit Interest
the interest of the prior Unit Owner in all funds in the hands of the Condominium
Association even though not expressly mentioned or described in the instrument of
transfer and without further instrument of transfer.
3.9 Separate Mortgages. Each Unit Owner shall have the right to mortgage or
otherwise to encumber all, but not less than all, of such Unit Owner's Unit Interests.
Subject to the provisions of Article VII of this Declaration, any Mortgage shall be
subordinate to all of the provisions of the Governing Instruments and, in the event of
foreclosure, the provisions of the Governing Instruments shall be binding upon any Unit
Owner whose Title is derived through foreclosure by private power of sale, judicial
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
80140
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000704
foreclosure or otherwise. Notwithstanding any other provision of the Governing
Instruments, no breach of the provisions herein contained nor the enforcement of any lien
created pursuant to the provisions hereof, shall impair, defeat or render invalid the
priority of the lien of any Prior Mortgage encumbering a Unit Interests or encumbering
Declarant/Developer's interest in the Project.
3.10 Subordination a,nd Partition of Tenancy-in-Common Attributes.
(a) Subordination. It is intended that this Declaration and all
documents promulgated hereunder shall govern all rights with respect to the use,
possession, enjoyment, management and disposition of the Unit Interests. Accordingly,
all rights with respect to the use, possession, enjoyment, management or disposition of a
Unit Interest with a Unit Owner might otherwise have as a tenant-in-common (including
but not limited to, any common law or statutory right jointly to use, possess, or manage
commonly owned Condominium Property) are hereby unconditionally and irrevocably
subordinated to this Declaration and any documents promulgated hereunder, for so long
as this Declaration, any documents promulgated hereunder, shall remain in effect;
provided, however, that in the event that an election to terminate this Declaration is made
pursuant to Section 12.2 of this Declaration, a Unit Owner shall have the right specified
in such Section.
(b) Partition. Except as provided in Section 12.2 of this Declaration,
no Unit Owner or other person or entity acquiring any right, lien or interest in the
Condominium Property shall seek or obtain, through any legal procedures, judicial
partition of the Condominium Property of the sale thereof in lieu of partition. If,
however, an Unit interest is owned by two (2) or more persons as tenants-in-common or
as joint tenants or as husband and wife, nothing herein contained shall prohibit a judicial
sale of such Unit Interest in lieu of partition as between such interest holders.
3.11 Protection of Interest. Except as provided in Section 3.10 of this
Declaration, no Unit Owner shall permit such Unit Owner's Unit Interest to be subject to
any lien (other than the liens of current real property taxes) claim or charge, the
enforcemen~ of which may result in a sale or threatened sale of the Unit Interest of any
other Unit Owner or any part thereof or in any interference in the use of enjoyment
thereof by another Unit Owner. In the event of a threatened sale of the Condominium
Property or the Unit Interest of any Unit Owner or any part thereof, or should the use and
enjoyment of any portion thereof by any Unit Owner be threatened by reason of any lien,
claim or charge against the Unit Interest of any other Unit Owner (the "Unit Owner in
Violation"), or should proceeding be instituted to effect any such sale or interference, any
Unit Owner (as used in this Section 3.12, the "Curing Unit Owner") acting on his or her
own behalf of anyone or more Unit Owners (if promptly indemnified to his or her or its
satisfaction) may, but shall not be required to, payor compromise the lien, claim or chare
without inquiry into the proper amount or validity thereof and, in such event, the Unit
Owner in violation shall forthwith pay the amount so paid or expended to the Curing Unit
Déclaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
90f40
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091.6442
000705
Owner or the Condominium Association, whosoever shall have paid or compromised the
lien, claim or charge, together with such reasonable attorney's fees and related costs as
the Curing Unit Owner or the Condominium association may have incurred. No Unit
Owner shall permit his or her interest in any funds from time to time in possession of the
Condominium Association to be subjected to any attachment, lien, claim or charge or
other legal process and each Unit Owner shall promptly restore any funds held by the
Condominium Association with respect to his or her Unit Interest to the extended
depleted by the reason of the assertion of any such attachment, lien, claim, charge or
other legal process and shall reimburse the Condominium Association for all reasonable
attorney's fees or other costs incurred in respect thereof.
3.12 Compliance With Laws. No Unit Owner or Permitted User shall permit
anything to be done or kept in such Unit Owner's Residence or part thereof or within any
other portion of the Condominium Property which violates any applicable law, ordinance,
statute, rule or regulations of any local, county, state or federal government or agency
. .
thereof.
3.13 No Increased Insurance. Nothing shall be done or kept in any Residence
or within any other portion of the Condominium Property which will increase the rate of
insurance on the Condominium Association without the prior written consent of the
Condominium Association Board. No Unit Ownershall permit anything to be done or
kept in his or her Residence, or do or place anything within the Condominium Property
which would result in the cancellation of insurance of the Condominium Association.
3.14 Antennae and Exterior Appliances. No Unit Owner shall erect, attach or
cause to be erected or attached, any item, including but not limited to towers antennae,
aerials, dishes, reflectors or other facili~ies for the reception or transmission of radio or
television broadcasts or other means of communication, or wiring for electrical or
telephone installation, television antennae, security systems, machines, air conditioning
units or appliances, on the exterior of, or the protrude through the walls or roof of, the
building without the prior written consent of the Project Association Board.
3.15 Legal Description of a Unit. Any legal description substantially in the
form set forth below or which is otherwise sufficient to identify a Unit shall be sufficient
for all purposes to sell, convey; transfer and encumber or otherwise affect a Private
Residence Unit:
a(i) fee simple estate in Unit No. of the Cedar Springs Meadows
Condominiums, according the that plat recorded in the Office of the Lincoln
County Clerk on [INSERT PLAT RECORDING DATE], as Plat No. [INSERT
PLAT NO.] as "Unit" is defined in and made subject to that certain Condominium
Declaration of Covenants, Conditions and Restrictions for Book of Photo
at pages to and as further defined in and made subject to
that certain This Declaration of Covenants, Conditions and Restrictions for
Declaration of Covenants and Restrictiolls
For Cedar Springs Meadows Condominiums
10 of 40
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Project recorded in the Office of the Lincoln County Clerk in Book
of Photo at pages to , and (ii) undivided interest in
the non-exclusive perpetual easement rights over the Project Common Areas that
are granted to each Uni~ Owner as an appurtenance to their Private Residence
Units all as more specifically described as "Common Elements' in such This
Declarati on;
Any conveyance of a Private Residence Unit shall include the items set forth in Section
2.2 above.
3.16 Insurance, Each Unit Owner shall have the obligation and duty to obtain,
maintain and pay the cost of insurance in accordance with Section 11.2
ARTICLE IV.
THE CONDOMINIUM ASSOCIATION
4.1 Membership in Condominium Association. Each Unit Owner shall
be a Condominium Association Member and shall remain a Condominium Association
Member until such Unit Owner ceases to be a Unit Owner.
4.2 Transfer of Membership in the Condominium Association. The
membership of each Unit Owner in the Condominium Association is appurtenant to and
inseparable from his or her ownership of a Unit Interest and shall be automatically
transferred upon any effective assignment or transfer of the ownership of his or her entire
Unit Interest to any assignee or transfer~e and, except as provided in this Section 4.2,
such membership shall be nontransferable whether by gift, bequest or otherwise.
4.3 Voting and Types of Membership in the Condominium Association.
V oting and types of membership in the Condominium Association shall be in accordance
with the provisions of the Condominium Articles and Condominium Bylaws.
4.4 . Board of Directors. The Condominium Association Board shall initially
consist of three persons appointed by Declarant/Developer. At the first annual meeting of
the Condominium Association, but in no event later than one (1) year after the date of the
sale of the first Unit Interest, the Unit Owners shall be entitled to elect one of the
Condominium Association Board Members, and Declarant/Developer shall be entitle to
appoint the remaining two Condominium Association Board member. All other
provisions governing the composition of the Condominium Association Board and
election of Condominium Association Board Members, including their reelection, shall
be governed by the Condominium Articles and Condominium Bylaws, to the extent the
same are not inconsistent with this Section 4.4
Declaration of Covenallts and Restrictions
For Cedar Springs Meadows Condominiwns
IJ of40
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091..6442
OOC7G7
ARTICLE V.
MANAGEMENT
, 5.1 Allocation of Maintenance and Repair Obligation.
(a) Unit Owner's Obligations. Each Unit Owner shall have the
primary obligation and liability to (i) maintain his or her Unit as well as all items
that comprise such Unit or that are contained therein or that exclusively service
such Unit in compliance with all applicable laws and in good order, condition and
repair (ii) to clean and maintain on a day-to-day basis the topside of the horizontal
surfaces and the interior of the vertical surfaces of the balconies and patios
contiguous and related to a Unit Owner's residence (i.e., to keep such areas in a
clean, attractive and sanitary condition and keep free from rubbish and litter).
(b) The Condominium Association's Obligations. The Condominium
Association shall have the primary obligation and liability to administer to the
affairs of the Unit Owners, to maintain and repair the Condominium Common
Area Furnishings and, subject to the day-to-day maintenance obligations of Unit
Owners.
(c) Items Comprising a Unit or Contained Therein or Servicing such
Unit. In avoidance of doubt, the following is intended to clarify what
"comprises" a Unit or what is "contained" in or what "exclusively services" such
Unit for the purposes of Section 5.1 (a) and 5.1 (b): First, all items that are
included within the definition of "Unit" (as defined for the purposes of this
Declaration) shall be deemed to:~comprise" a Unit, and all items that are
"excepted" from such definition of "Unit" (e.g., as definition is currently drafted,
(1) the bearing walls, windows and window frames, exterior door and door
frames, column, exterior floors, roofs, railings, fences, foundation slabs, exterior
wall sUlfaces and central services, pipes, ducts, chutes, and flues, conduits, wires
and other utility install~tions wherever located within each such Unit, and (2) all
balc<:>nies and patios contiguous and related to each such Unit) shall not be
deemed to "comprise" a Unit. Second, all personal property and improvements
that are located entirely or partially within a Unit (for example, an exhaust fan
located in a bathroom of a Unit, the cover of which is within the Unit but the
motor of which extends into the attic space above the ceiling of the Unit, is
deemed to be within the Unit in which it is located) shall be deemed to be
"contained" in such Unit. Third, all equipment located within the walls, floors or
ceilings immediately contiguous to a Unit and exclusively serving such Unit shall
be deemed to "exclusively service" such Unit (e.g., a fan coil unit, fuse box and
smoke and fire system dedicated to but not located within a Unit). In furtherance
of the foregoing, all of the following shall expressly not be deemed to "comprise"
or be "contained" in or "exclusively service" a Unit.
Declaratioll ofCovellallts alld Restrictiolls
For Cedar Sprillgs Meadows COlldomilliums
120f40
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031.6442
0007(\ 8
(d) Allequipment that does not exclusively serve a single Unit (e.g., multiple
fan cooling unit, hot water circulating pump, fire protection system, roofs,
elevators, hallways, fire escape stairs, railing and fences, foundations and slabs,
each of which serves more than one'Unit);
(i) All items not within a Unit which are part of the physical structure
that creates and/or supports a Unit (e.g., studs, beams, fasteners,
connectors, nails, screws, nuts, bolts, junction boxes, insulation, exterior
siding, pipes, ducts, chutes, flues, conduits, sub-floors, ceilings and
drywall, exterior doors and windows); and
(ii) All items which are part of a utility distribution system (e.g., water
lines, sewer pipes, ducts and vents, electrical lines, connectors and boxes,
and gas lines). 'For clarification, the items in this category are part of a
system that delivers utilities to a Unit, but does not include the fixture or
other items designed to operate when certain utilities are delivered through
such systems (e~g., an exhaust fan or light fixture).
As an example of the foregoing repair and maintenance obligations, if
(subsequent to any applicable warranty period) the exhaust fan referred to
above breaks, t~e Unit Owner, shall be responsible for its repair. If,
however, the exhaust fan fails to operate because of a faulty wire located
within the wall of the Unit, then the Unit Owner will not be responsible
for the repair (because, in fact, it is not the exhaust fan that is fauIty but
rather the wire delivering. electrical current to such exhaust fan that is
faulty( in accordance with Section 5. 1 (d)(iii) and because such faulty wire
is not within the Private Residence Unit). Notwithstanding the foregoing,
all items not deemed to "comprise" or be "contained" in a Unit under the
foregoing provisions that require repair as a result of prior alterations or
other actions by a Unit Owner (or a predecessor Unit Owner) or such Unit
Owner's Permittees or Permitted Users shall also be the responsibility of
such Unit Owner to repair (e.g., if a Unit Owner is installing shelving in
his or her Unit and in so doing damages electrical wires within the wall of
such Unit, if a Unit Owner removes or modifies a water line within the
walJs of his or her Unit and in so doing damages such water lines, or if a
Unit Owner causes the plumbing to back up, then such Unit Owner shall
be responsible for repairing the damaged electrical wires, repairing the
altered water line (if it ever requires repair), and cleaning out the
plumbing).
5.2 Specific Powers and Duties of the Condominium Association. The
Condominium Association, acting alone (through the Condominium Association Board,
its officers, or other duly authorized representatives) may, subject to the provisions of the
Governing Instruments, exercise any and all rights and powers herein enumerated and,
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
13 0140
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0'91..6442
000709
except as specifically limited herein, all the rights and powers of a non-profit corporation
under the laws of the State of Wyoming. The following powers and duties are in
amplification and not limitation of the foregoing powers and duties:
(a) Bank Accounts. The Condominium Association shall have the
power and duty to establish and maintain the General Account and a Reserve Account,
and to deposit therein all funds collected by the Condominium Association from the
Condominium Association Members in connection with its rights and duties hereunder as
follows:
(i) All fund,s shall initially be deposited in the General Account.
Funds deposited in·the General Account may be used by the
Condominium Association only for the purposes for which such funds
have be collected.
(ii) Within ten (10) days after deposit in the General Account, all
amounts collected for Condominium Reserve Expenses shall be deposited
in a Reserve Account. The Condominium Association shall keep accurate
books and records reflecting the amount in such Reserve Account. Funds
deposited in such Reserve Account shall be held in trust and, except in an
emergency, may be used by the Condominium Association only for the
specific purposes for which such funds have been collected. Funds held in
such Reserve Account and used in an emergency shall be replaced in such
Reserve Account as soon as practicable after the date upon which
emergency arose but in no event later than the end of the Fiscal Year
immediately following the Fiscal Year in which such emergency occurred.
Interest, if any, earned on Reserve Account funds shall be accumulated
therein and shall be used only for payment of Condominium Reserve
expenses and any taxes i\1curred by the Condominium Association as a
result of the earning of such interest.
(b) Delegation-Employment of Agents. The Condominium Association
shall have the power and duty to delegate the authority and responsibilities of the
Condominium Association hereunder to one or more agents, including, without
limitation, t~e Condominium Association Manager as provided for in Section 5.3 of this
Declaration, and the power to employ the services of any person or corporation as
Condominium Association Manager (in accordance with Section 5.3), or conduct, and
perform the business, obligations and duties of the Condominium Association.
(c) Condominium Association Budgets and Financial Statements. The
Condoininium Association shall have the power and duty to cause to be regularly
prepared financial statements for the Condominium Association and copies thereof to be
distributed to all Condominium Association Members.
5.3 Authority and Duty to Engage Condominium Association Manager.
The Condominium Association shall have the authority to engage and the obligation to
use its best efforts to engage and maintain a reputable firm or person as the
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
14 of 40
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C00710
Condominium Association Manager to manage, conduct and perform the business,
obligations and duties of the Condominium Association pursuant to a Condominium
Association Management Agreement. The Condominium Association Manager shall
have the right to ingress and egress over such portions of the Condominium Property as is
necessary for the performance of such business, duties and obligations.
5.4 Limitation on Powers of the Condominium Association Manager.
The Condominium Association Manager shall not, without having first obtained the
Consent the Declarant/Developers: (a) enter into a contract with a third person or entity
whereby such person or entity will furnish goods or services for the management,
operation, maintenance and repair of the Condominium Property, for a term longer than
one (1) year, except for (i) a contract with a public utility company if the rates charged
for the materials or services are regulated by the Wyoming Public Service Commission,
provided, however, that the term of the contract shall not exceed the shortest term for
which the supplier will contract at the regulated rate, or (ii) a prepaid casualty and/or
liability insurance policies not exceed three (3) years duration provided that the policy
permits short-rate cancellation by the insured; (b) incur aggregate expenditures for capital
improvements to any common facilities owned by the Condominium Association in any
Fiscal Year in excess of five percent (5%) of the budgeted gross expenses for the
property of the Condominium Association for the Fiscal Year; (c) during any Fiscal Year,
sell any property of the condominium Association having an aggregate fair market value
greater than five percent (5%) of the budgeted gross expenses for the Condominium
Association for that Fiscal Year; and (d) pay compensation members of the
Condominium Association Board or to the officers of the Condominium Association for
services performed in the conduct of the Condominium Association's business; provided,
however, that the members of the Condominium Association Board or officers of the
Condominium Association may be reirvbursed for expenses incurred in carrying on the
business of the Condominium Association.
5.5 Limited Liability--Condominium Association Manager and
Association. Neither the Condominium Association nor the Condominium Association
Manager shall be responsible for the acts, omissions or conduct of any Unit Owner or
Permitted User, or for the breach of any of the obligations of any Unit Owner or
Permitted User. Notwithstanding the duty of the Condominium Association to maintain
and repair Condominium Property, and except to the extent covered by insurance, the
Condominium Association shall not be liable to Unit Owners for injury or damage, other
than for the cost of maintenance and repair, caused by any latent condition of the
Condominium Property to be maintained and repaired by the Condominium Association
or cause by natural elements or other Unit Owners or persons. All users of the
Condominium Property and the Units do so at their own risk.
5.6 Condominium Association--Personal Liability, Indemnification. No
director or officer of the Condominium Association shall be personally liable to any Unit
Owner, or to any other party, including the Condominium Association, for any damage,
Declaration o/Covenants and Restrictions
For Cedar Sprb¡gs Meadows Condominiums
150/40
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0316442
C00711
loss or prejudice suffered or claimed on account of any act, omission, error or negligence
of the Condominium Association, the Condominium Association Board or any other
representative or employee of the Condominium Association or any officer of the
Condominium Association, provided that such person has, upon the basis of such
information as may be possessed by him, acted in good faith, and without willful or
intentional misconduct. The C,ondominium Association hereby agrees to indemnify any
director of the Condominium Association against any liability for any damage, loss or
prejudice suffered or claimed on account of any act, omission, error or negligence by
such director in representing the Condominium Association, provided that such person
has, upon the basis of such information as may be possessed by him or her, acted in good
faith, and without willful or intentional misconduct.
5.7
For so long as:
Declarant/Developer's Obligations to the Condominium Property.
(a) an improvement to be constructed by Declarant/Developer as a part of
the Condominium Property (for which a bond or, other security posted by
Declarant/Developer to assure completion of such improvement remains unexonerated)
has not been completed,
(b) a Condominium Subsidy Agreement continues in effect, or
(c) Declarant/Developer owns in excess of twenty percent (20%) of all
Unit Interests, Declarant/Developer shall, within thirty (30) days after the end of each
quarter of the Fiscal Year, furnish to each member of the Condominium Association
Board at his or her residence address a Declarant/Developer's report. If
Declarant/Developer's Report is not reçeived by the Condominium Association Board
members within forty-five (45) days after the end of a quarter, or if the
Declarant/Developer's Report received evidences a failure by Declarant/Developer to
fulfill any obligation of Declarant/Developer to the Condominium Association, the
Condominium Association Board shall hold a special meeting to consider and vote on
action against Declarant/Developer and/or Declarant/Developer's surety to enforce
Declarant/I?eveloper's unfulfilled obligations. If, within seventy-five (75) days following
the end of the calendar quarter with, respect to which Declarant/Developer's Report was
either not submitted or reflected a failure by Declarant/Developer to fulfill its obligations
to the Condominium Association, the Condominium Association Board fails to meet to
consider and vote on the question of enforcing Declarant/Developer's obligations or if,
within such seventy-five (75) day period, the Condominium Association Board refuses to
initiate action to enforce Declarant/Developer's unfulfilled obligations, one of the
directors of the Condominium Association elected solely by the votes of the Non-
Declarant/Developers shall be empowered to initiate action in the name of the
Condominium Association and at the Condominium Association's expense, including,
without limitation, arbitration proceedings as more particularly provided below. If such
director initiates an action in the name of the Condominium Association, the
Declaration of Covenanf$ and Restrictions
For Cedar Springs Meadows Condominiwns
16 of 40
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Og1~G442
Condominium Association Board shall thereafter take such steps as are necessary and
appropriate in furtherance of the purpose of the action. Any disagreement or controversy
between Declarant/Developer and the Condominium Association with respect to the
question of the fulfillment of Declarant/Developer's obligations to complete and pay for
improvements included in the Condominium Property, to pay for Condominium
Assessments, Special Assessments and Reconstruction Assessments or to pay the costs of
operating and maintaining the Condominium Property under a Condominium Subsidy
Agreement shall, at the request of either party, be submitted to arbitration in accordance
with Section 12.20. If arbitration is requested by one of the directors elected solely by
the votes of the Non-Declarant/Developers as provided above, the Condominium
Association shall promptly reimburse such director provided above, the Condominium
Association shall promptly reimburse such director for that and any other costs
reasonably incurred in initiating the arbitration proceedings.
ARTICLE VI.
ASSESSMENTS AND PERSONAL CHARGES
6.1
the later of
Creatio.n of Personal Obligation~ for Assessments. From and after
(a)
January 1,2006 or
(b) the date of the closing of escrow for the sale of the first Unit Interest,
Declarant/Developer, for each Declarant/Developer Interest, hereby covenants, and each
Unit Owner accepting the conveyance of a Unit Interest, whether or not it shall be so
expressed in the Original Deed, shall b~, deemed to have covenanted and agreed for each
Unit Interest owned, to pay the Condominium Assessment, the Tax Assessment, all
special Assessments, and all Reconstruction Assessments, which shall be established,
made and collected as hereinafter provided. Declarant/Developer may, to the extent
permitted by law, in lieu of payment of the Condominium Assessment, enter into a
Condominium Subsidy Agreement with the Condominium Association with respect to
any Units owner by Declarant/Developer. Assessments, together with interest thereon,
costs and reasonable attorneys'fees shall be the personal obligation of each Unit Owner
at the time each Assessment becomes due and payable and shall be in lien and charge
upon the Unit Interest against which such Assessment is made. The personal obligation
for delinquent Assessments shall passto a successor-in-title to a Mortgagee and to all
other successors-in-title except for a Mortgage or Declarant/Developer, or an affiliate of
Declarant/Developer, with respect to any Unit Interest that Declarant/Developer, or such
affiliate, reacquires after the initial conveyance of such Unit Interest by
Declarant/Developer. No Unit Owner may waive or otherwise avoid liability for the
Assessments by non-use of his or her Unit Interest or any part thereof or any
abandonment thereof.
Declaration of Covenallts a1ld Restrictions
For Cedar Springs Meadows Condominiums
17 of40
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091.6'14Z
OOG713
6.2 Purpose oj Assessments. Assessment shall be used exclusively to
fund the Condominium Association Budget and other expenses of the Condominium
Association.
6.3 Limitation on Condominium Assessment. The Condominium
Assessment (not including real property taxes levied against any Unit) for any applicable
Fiscal year subsequent to the first full Fiscal Year shall not exceed one hundred twenty
percent (120%) of the Condominium Assessment (not including real 'property taxes
levied against any Unit) for the preceding Fiscal Year (without regard to any increase or
decrease as set forth in Section 6.4 of this Declaration), without the consent of a majority
of the Declarant/Developers.
6.4 Reduction oj Condominium Association Budget. Each Unit Owner
hereby agrees that in the event the Condominium Association Board shall determine at
any time during the Fiscal Year that the Condomini um Association Budget is, or will be,
in excess of the amounts needed to meet the Condominium Association Expenses (other
than Condominium reserve Expenses) for such Fiscal year, the Condominium
Association Board shall have the authority, exercisable in its sole discretion, to cause to
be prepared an estimate of the amount of such excess, which excess shall then be
subtracted from the previously prepared Condominium Association Budget for the Fiscal
Year to which such excess is applicable. The Condominium Association Expenses
reflected in the reduced total Condominium Association Budget shall then be allocated
among the Unit. Except as may be determined by the Unit Owners on an annual basis:
(i) no Unit Owner shall, by reason of such reduction, be entitled to a
refund of all or any portion of any Condominium Assessment previously
paid, and;
(ii) each Unit Owner hereby agrees that any amount assessed and
collected in excess of the amount required to meet the Condominium
Association Expenses (other than Condominium Reserve Expenses) shall
be applied to reduce the amount assessed to meet the Condominium
Association Expenses, respectively, for the next succeeding Fiscal Year.
Any reduction in the Condominium Association Budget, as provided
herein, shall not relieve any Unit Owner for his or her obligation to pay
any past-due Condominium Assessment.
6.5 Condominium Assessment. The Condominium Assessment shall
commence as to each Unit Interest on the later of
(a) January 1,2006 or
(b) the date of the closing of escrow for the sale of the first Unit Interest.
The initial Condominium Assessment for each Unit Interest owned by the
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
180f40
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Declarant/Developer may be prorated as more particularly provided in the Purchase
Agreement for such Unit Interest.
6.6 Payment of Condominium Assessment and Tax Assessment. The
Condominium Assessment and Tax Assessment shall be paid as follows:
(a) Condominium Assessment. The CondoIIÚnium Assessment shall be
paid as follows:
(i) For any Fiscal Year in which a Non-Declarant/Developer acquires
a Unit Interest, such Non-Declarant/Developer shall pay the
Condominium Assessment as provided in the Purchase Agreement.
(ii) For each Fiscal Year thereafter, the Declarant/Developer shall pay to
the Condominium Association the Condominium Assessment with respect
to each Unit Interest which the Declarant/Developer owns, either
(A) in one lump sum due on or before the date deterIIÚned by
the Condominium Association Board, or
(B) in installments payable no more frequently than monthly,
as determined by the Condominium Association Board. Whether
such Condominium Assessment is paid through the method
provided in (A) or (B) of the foregoing sentence shall be at the
Condominium Association's discretion.
(iii) For each Fiscal Yea¡¡ in which there is no Condominium Subsidy
Agreement, Declarant/Developer shall pay the CondoIIÚnium Assessment
with respect to each Unit Interest owned by Declarant/Developer to the
Condominium Association in twelve (12) equal monthly installments,
commencing on January 1 of each Fiscal Year and continuing on the first
day of each month thereafter until paid; provided, however, that
Declarant/Developer's obligations for the payment of the Condominium
Assessment attributable to a Declarant/Developer Interest shall cease as to
such Unit Interest upon conveyance thereof by Original Deed.
(iv) That portion of the Condominium Assessment which is attributable to
(A) Project Reserve Expenses shall be deposited by the Condominium
Association in a Reserve Account in the name of and as directed by the
Association, and (B) Condominium Reserve Expenses shall be deposited
by the Condominium Association in a Reserve Account as determined by
the Condominium Association.
(b) Tax Assessment. The Tax Assessment shall be paid as follows:
Declaration a/Covenants and Restrictions
For Cedar Springs Meadows Condominiums
/90/40
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C00715
(i) For any Tax Year in which a Non-Declarant/Developer acquires a
Unit Interest, the Tax Assessment attributable to such Unit Interest shall
be payable by the Non-Declarant/Developer as provided in the Purchase
Agreement, and for each Tax Year thereafter, the Tax Assessment for such
Unit Interest shall be payable concurrently with payment of the
Condominium Assessment; and
(ii) For each Tax Year, the Tax Assessment attributable to each
Declarant/Developer Interest shall be payable by Declarant/Developer in
two (2) equal semi-annual installments, payable on such dates as the
Condominiums Association may determine; provided, however, that upon
conveyance of a Declarant/Developer Interest by Original Deed, the Tax
Assessment attributed thereto shall be paid by the purchaser thereof as set
forth in Section 6.6(b)(i), above.
6.7 Special Assessments. If the Condominium Assessments collected or
to be collected for a particular Fiscal Year are, or will be, inadequate to meet all expenses
incurred by the Condominium Association hereunder (other than for items constituting
Personal Charges) for any reason, including, without limitation, nonpayment by any Unit
Owner of any Assessment on a current basis, the Condominium Association shall
immediately determine the approximate amount of such inadequacy, prepare and
distribute a supplemental Condominium Association Budget and levy against each Unit
Interest in accordance with the method for determining the Condominium Assessment, a
Special Assessment. Any Special Assessment shall be payable in one lump sum or
periodically, as determined by the Condominium Association. Notwithstanding the
foregoing, a Special Assessment against,.a Unit Owner or Unit Owners may not be
imposed without the prior approval of a majority of the Unit Owners, except for special
Assessments;
(a) against all Unit Owners in any Fiscal year which do not exceed five
percent (5%) of the budgeted gross expenses of the Condominium Association for such
Fiscal Year,.
(b) for the repair or rebuilding of a Unit which does not exceed ten
percent (10%) of the budgeted gross expenses of the Condominium Association for the
Fiscal Year in which the Special Assessment is levied, or
(c) against a U.nit Owner or Unit Owners for the purpose of reimbursing
the Condominium Association for costs incurred in bringing such Unit Owner or Unit
Owners into compliance with provisions of the Governing Instruments.
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominituns
20 of 40
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6.8 Personal Charges.
(a) Personal Charges are not Assessments and the remedies available to
the Condominium Association against any Unit Owner for nonpayment of such Unit
Owner's Personal Charges are those remedies provided in Section 7.1 and Section 7 .2( a)
of this Declaration.
(b) Personal Charges shall be paid by each Unit Owner to whom such
Personal Charge relates.
ARTICLE VII.
ENFORCEMENT OF RESTRICTIONS
7.1 In General.
(a) In the event that any Unit Owner or Permitted User(s) should fail to
comply with any of the provisions of the Governing Instruments of the Condominium
Association or the Project Association, the Condominium Association or any other Unit
Owner(s) shall have full power and authority to enforce compliance with such Governing
Instruments in any manner provided for therein, by law or in equity, including without
limitation, the right to enforce such Governing Instruments, by bringing an action for
damages, an action to enjoin the violation or specifically enforce the provisions for such
Governing Instruments, to enforce the liens provided for herein and any statutory lien
provided by law, including the foreclosure of any such lien and the appointment of a
receiver for a Unit Owner and the right to take possession of the Unit Interest of any Unit
Owner in any lawful manner. In the ev~nt the Condominium Association or any Unit
Owner(s) shall employ an attorney to enforce the provisions of the Governing
Instruments of the Condominiùm Association against any Unit Owner or Permitted User,
the prevailing party shall be entitled to recovery from the Unit Owner or Permitted User
violating any such provisions reasonable attorneys' fees and costs in addition to any other
amounts due as provided for herein.
(b) , All sums payable hereunder by a Unit Owner or Permitted User
which become Delinquent shall bear interest at the Agreed rate: commencing on the date
such payment becomes Delinquent, or if advanced or incurred by the Condominium
Association, or any other Unit Owner or Permitted User pursuant to authorization
contained in this Declaration, commencing thirty (30) days after repayment is requested.
(c) Each Unit Owner or Permitted User who becomes Delinquent in the
payment of any amount due the Condominium Association shall pay to the Condominium
Association a late charge of Twenty-Five Dollars ($25.00), or such other amount as may
be determined by the Condominium Association Board from time to time, for each
payment which is Delinquent.
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
21 of 40
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O~1.6442
C00717
(d) All enforcement powers of the Condominium Association shall be
cumulative. Each Unit Owner or Permitted User accepting the conveyance of a Unit
Interest shall be deemed to have covenanted and agreed that the Condominium
Association shall have all of the rights, powers and remedies set forth in this Article VII
and elsewhere in this Declaration.
7.2 Certain Specific Enforcement Powers. In amplification of, and not in
limitation of, the general powers specified in Paragraph 7.1 of this Declaration, the
Condominium Association shall have the following rights and powers:
(a) Suspension of Privileges. If any Unit Owner, or such Unit Owner's
Permitted User, shall be in breach of the Governing Instruments, including but not
limited to the failure of such Unit Owner to pay and Assessment or Personal Charges
attributable to, or incurred in connection with, a Unit Interest on or before the due date
therefore, or for the failure of a successor-in-title of a Unit Interest to promptly cure any
past due Assessments or other amounts due and owing to the Condominium Association,
whether or not the obligation to pay for such Assessment or other amount due arose prior
to the time such successor-in-title obtained such Unit Interest, subject to the limitations
hereinafter set forth in Section 6.1 and this Section 7.2(a), the Condominium Association
may suspend such Unit Owner's right arising from the ownership of such Unit Interest to
participate in any vote or other determination provided for herein, may suspend
Management Services to such Unit Owner, and may assess monetary penalties as may be
provided in the Condominium Bylaws.
The Condominium Association may delegate to the Condominium Association
Manger the power, in accordance with tij.e preceding sentence, to suspend the privileges
of any Unit Owner or Permitted User during the period of time that such Unit Owner or
Permitted User is Delinquent in the payment of an Assessment or Personal Charge duly
levied by the Condominium Association. No such suspension, except a suspension of
privileges for the failure of such Unit Owner or Permitted User to pay any Assessments
or Personal Charges, any portion thereof or any other amount(s) due hereunder on or
before the d~e date therefore, or imposition of monetary penalties shall be made except
after a meeting of the Condominium Association Board at which a quorum of the
Condominium Association Board is present (pursuant to the Condominium Bylaws), duly
called and held for such purpose. Written notice of such meeting, the purpose thereof,
including the reasons for the suspension sought or the monetary penalties sought to be
imposed, and whether the Unit Owner's or Permitted User's defense shall be oral or
written, shall be given to the Unit Owner or Permitted User against whom such activity is
to be taken at least fifteen (15) days prior to the holding of such meeting. Such notice
shaH be given as provided at Paragraph 12.4 of this Declaration. Such Unit Owner or
Permitted user shall be entitled to appear at such meeting and present his or her case,
either orally or in writing as designated by the Condominium Association Board, as to
why his or her privileges should not be suspended or monetary penalties imposed. The
Declaration of Covenants alld Restrictions
For Cedar Springs Meadows Condominiums
220f40
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decision as to whether such privileges should be suspended or monetary penalties
imposed shall be made by a majority of the members of the Condominium Association
Board present at such meeting. Written notice of suspension or monetary penalties
imposed, the reasons therefore and the length or amount hereof shall be given to the
affected Unit Owner or Permitted User and the suspension or penalties shall become
effective on the date such notice is given, which date shall be not less than five (5) days
after the date of such meeting. If such suspension or privileges or imposition of monetary
penalties is based on the failure of a Unit Owner or Permitted User to pay Assessments,
Personal Charges or any other amount(s) due hereunder when due attributable to, or
incurred in connection with, a Unit Interest, the suspended privileges of such Unit Owner
or Permitted User with respect to such Unit Interest shall be reinstated automatically at
such time as the Unit Owner or Permitted user shall have paid to the Condominium
Association, in cash or by cashier's or certified check, all amounts past due as of the date
of such reinstatement and all monetary penalties imposed, together with accrued and
unpaid interest and any late charges imposed which are attributable to. Or were incurred
in connection with, such Unit Interest if such suspension of privileges shall be
automatically reinstated upon the earlier of the expiration of the period stated in the
suspension notice or payment of the monetary penalties imposed.
(b) Enforcement of Lien. Subject to the provisions of Paragraph 7.3 of
this Declaration, there is hereby created a claim of lien, with foreclosure by
advertisement and power of sale, on each and every unit Interest to secure the prompt and
faithful performance of each Unit Owner's obligations
(i) under the Governing Instruments and
(ii) to pay the Cond~minium Association any and all Assessments
levied against any and all Unit Interest under this Declaration,
together with interest thereon at the agreed Rate from the date such
payment becomes Delinquent, and all late charges and costs of
collection which may be paid or incurred by the Condominium
Association in connection therewith, including reasonable attorneys'
fees. The lien is perfected from and ~fter the recording of this
Declaration without the necessity or recording any notice of lien.
At any time within thirty-five (35) days after the occurrence of any default in the
payment of such Assessment or performance secured, the Condominium Association or
any authorized representative may, but shall not be required to make a written demand
for payment to the defaulting Unit Owner. Said demand shall state the date and amount
of the delinquency with respect to which the Unit Owner is in default. Each default shall
constitute a separate basis for a demand or claim of lien or a lien, but any number of
defaults may be included within a single demand or claim of lien. If such delinquency is
not paid or default is not cured within ten (10) days after delivery of such demand, or
within forty-five (45) days after the date of delinquency or default if no written demand is
Declaration of Covenants and Restrictions
For Cedar Springs Meadows ,Condominiums
23 of 40
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091..6442
rOC'I"1~ 9
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made, the Condominium Association may elect, but shall not be obligated, to file and
record a notice of default and claim of lien (with a copy to the Mortgagee of such
defaulting Unit Owner if such Mortgagee has requested a copy and furnished its name
and address to the Condominium Association) on behalf of the Condominium
Association against the Unit Interest of the defaulting Unit Owner in the Office of the
County Recorder. Such a notice of default and claim of lien shall be executed and
acknowledged by any officer of the Condominium Association, and shall contain
substantially the following information:
(i) The name of the defaulting Unit Owner;
(ii) The total amountof the delinquency, interest thereon, late charges,
collection costs' and reasonable attorneys' fees;
(iii) A statement that the notice of default and claim of lien is made by the
Condominium Association pursuant to this Declaration; and
(iv) A statement that a lien is claimed and will be foreclosed against tht;
Unit Interest in an amount equal to the amount stated.
The recordation of a duly executed original or copy of such a notice of default and
claim of lien, and mailing a copy thereof to the defaulting Unit Owner, shall not
constitute a condition precedent to nor delay the attachment of the lien. The lien claimed
in such a notice of default and claim of lien shall attach to the Unit Interest without notice
at the beginning of the first day of any period for which any Assessment is levied. Any
such lien may be foreclosed by appropriate action in court or in the manner provided by
law for the foreclosure of a mortgage by: advertisement and power of sale contained
therein or in the manner provided by law for the enforcement of a judgment as the laws
of the State of Wyoming may from time to time be changed or amended. The
Condominium Association shall have the power to bid at any foreclosure sale; trustee's
sale or judgment sale, to purchase, acquire, lease, hold, mortgage and convey any Unit
Interest acquired at such sale subject to the provisions of this Declaration reasonable
attorneys' fees, court costs, title search fees, interest, accrued Assessments and Taxes, and
all other costs and expense shall be allowed to the extent permitted by law. The proceeds
of any foreclosure, trustee's or judgment sale provided for in the Condominium
Declaration shall first be paid to discharge court costs, court reporter charges, reasonable
attorneys fees, title costs and costs of the sale, and all other expenses of the proceedings
and sale, and the balance of the proceeds, after satisfaction of all charges, monetary
penalties and unpaid Assessments hereunder or any liens, and subject to the rights of any
Mortgagee, shall be paid to the defaulting Unit Owner. The purchaser at any such sale
shall obtain title to the Unit Interest after the expiration of any applicable period of
redemption free from the sums or performance claimed, except as stated in this Section
7.2(b), but otherwise subject to the provisions of the Governing Instruments, and no such
sale of transfer shall relieve such Unit Interest of the purchaser thereof from liability for
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
24 of40
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any Assessments, Taxes, other payments for performance thereafter becoming due or
from the lien therefore as provided for in this Section. All
Sums assessed hereunder but still unpaid shall remain the obligation of and shall be
payable by the person foreclosed upon; but if such sum should prove uncollectible, then it
shall be deemed to be a Condominium Basic Expense, collectable from all of he other
Unit Owners, including the purchaser thereof atforeclosure, and shall be shared among
such Unit Owners in the same manner as other Condominium Basic Expenses are shared.
Upon the timely notice of any default for which a notice of default or claim of lien was
filed by the Condominium Association, the officers of the Condominium Association are
hereby authorized to record an appropriate release of such lien in the Office of the
County Recorder.
7.2 Subordination to Certain Encumbrances. The lien provided for herein
shall be prior to all encumbrances made by a Unit Owner or imposed by legal process
upon any Unit Owner except (i) taxes, bonds, assessments and other levies which by law
are prior thereto, and (ii) the lien of any Prior Mortgages whether the notice of lien is
recorded prior or subsequent to any such encumbrances, including foreclosure of a Prior
Mortgage, shall not defeat or affect the lien provided for herein. No such sale or transfer
shall relieve such Unit Interest or the purchaser thereof from liability for any
Assessment(s) thereafter becoming due or from the lien thereof.
7.3 Waiver of Homestead Exemption. Each Unit Owner hereby agrees that
neither Declarant/Developer's nor any Association's rights or remedies nor any Unit
Owner's obligations under the terms of any of the Governing Instruments shall be
released, diminished, impaired, reduced.or affected by, and the liability of each Unit
Owner under the Governing Instruments shall be absolute and unconditional irrespective
of any homestead exemption or other e~emption under applicable law. Each Unit Owner
hereby expressly waives all homestead exemption rights and rights under any other
exemption under applicable law against the obligations of each Unit Owner pursuant to
the Governing Instruments.
ARTICLE VIII.
ÇONDOMINIUM ASSOCIATION AS ATTORNEY-IN-FACT
8.1. Appointment. Each and every Unit Owner hereby irrevocably constitutes
and appoints the Condominium Association as such Unit Owner's true and lawful
attorney-in-fact in such Unit Owner's name, place and stead for the purpose of dealing
with the Condominium Property upon its damage, destruction or condemnation as
provided below in Article 9. In addition, the Condominium Association, or any insurance
trustee or substitute insurance trustee designated by the Condominium Association, is
hereby appointed as attomey-il).-fact under this Declaration for the purpose of purchasing
and maintaining insurance under Article XI, including: (i) the collection and appropriate
disposition of the proceeds of such insurance, (ii) the negotiation of losses and the
execution of releases of liability, (ii) the execution of all documents; and (iv) the
Declaratioll of Covellallts alld Restrictiolls
For Cedar Sprillgs Meadows COlldomilliums
250f40
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091J)Q42
CO('721
performance of all other acts necessary to accomplish such purpose. The Condominium
Association, or any insurance trustee, shall hold or otherwise properly dispose of any
insurance proceeds in trust for the Unit Owners and their Mortgages, as their interest may
appear. Acceptance by a grantee of a deed or other instrument of conveyance from
Declarant/Developer or from any Unit Owner shall constitute appointment of the
attorney-in-fact as provided above, If the Condominium Association Boards fails to
approve any exercise of authority as attorney-in-fact, the Condominium Association shall
have such authority as it may have pursuant to the Act. Each Unit Owner's appointment
of the Condominium Association as attorney-in-fact as provided herein is a power
coupled with an interest, and no further document or instrument is necessary to evidence
the condominium Association's appointment.
8.2 General Authority. As attorney-in-fact, the Condominium Association
shall have full and complete authority, right and power to make, execute and deliver any
contract, assignment, deed, waiver or other instrument with respect to the interest of any
Condominium Association as attorney-in-fact.
ARTICLE IX
DAMAGE, DESTRUCTION, OR CONDEMNATION
9.1 In General. In the event of any damage or destruction other than by
normal wear and tear, whether resulting from an insured or uninsured casualty, to all or
any portion of the Condominium Common Area Furnishings or other real or personal
property owned by the Condominium Association, the Condominium Association shall
promptly cause such to be repaired, restored or replaced as near as may be possible to its
condition immediately prior to, such damage or destruction. The Condominium
Association Board may levy a Reconstrµction Assessment on all of the Unit Owners in
accordance with the method set forth below and in accordance with Section 5.2(i) for the
amount required to make up for any deficiencies between the total insurance proceeds
and the contract price for such repair and rebuilding (the "Reconstruction Shortfall").
(a) Reconstruction Shortfall Per Unit. For each Unit, the Reconstruction
Assessmentagainst such Unit shall be an amount determined by multiplying the
Reconstruction Shortfall by the ratio of the aggregate square footage of such Unit divided
by the aggregate square footage of all Units which are subject to this Declaration.
(b) Exceptions. Notwithstanding Section 9.1(a) above, if the loss, damage or
destruction was caused by the intentional or negligent act, or failure to act, of any Unit
Owner or such Unit Owner's Permitted User(s), the cost of such repair shall be a Personal
Charge of, and be paid by, such Unit Owner as provided in Paragraph 6.8 of this
Declaration to the extent such loss, damage or destruction is not covered by insurance.
All insurance monies recovered on account of such damage or destruction, less the cost,
if any, of such recovery, shall be applied to the payment of the cost of repairing,
replacing and rebuilding, and shall be paid out from time to time by the Condominium
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
26 of 40
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Association Board as such work progresses upon the written certification of the architect
or engineer if applicable, or the contractor in charge of such work, stating that the sum
requested is justly due to those persons rendering services or furnishing materials in
connection with such work. Notwithstanding the foregoing provisions, the aggregate of
all Special Assessments (including all Reconstruction Assessments) levied during a
Fiscal Year, may not exceed five percent (5%) of the budgeted gross expenses of the
Condominium Association for such Fiscal Year without the approval of the Unit Owners
in accordance with the Condominium Bylaws.
9.2 Taking of All Condominium Association Property. In the event all the real
or personal property owned by the Condominium Association is taken under the power of
eminent domain, that portion of the condemnation award which is paid to the
Condominium Association on account of the taking of such real or personal property
shall be divided among and distributed to the Unit Owners (subject to rights of
Mortgagees (other than Declarant/Developer Mortgagee». The proportionate interest of
each Unit Owner in such proceeds shall be equal to a fraction, the numerator of which is
the current fair market value of the Unites) owned by such Unit Owner and the
denominator of which is the total fair market value of all the Units, as determined by an
independent appraiser appointed by the Condominium Association Board; provided such
independent appraiser shall be a member of the American Institute of Real Estate
Appraisers or any successor organization.
9.3 Partial Taking of Condominium Association Property. In the event of a
partial taking of real or personal property owned by the Condominium Association,
which taking includes the Condominium Common Area Furnishings, all condemnation
awards shall be paid to Mortgagees (other than Declarant/Developer Mortgagee), at their
option, as their interest may appear, anq. any award not paid to such Mortgagees shall be
paid to the Condominium Association. The Condominium Association shall use all
amounts awarded to it on account of such taking to repair, reconstruct or restore the
remaining property owned by the Condominium Association as nearly as may be possible
to its condition immediately prior to such taking, or if that is not reasonably possible, to
acquire and improve other real or personal property to replace the property or portions of
the Condominium Common Area Furnishings, which were taken; provided, however, that
the Condominium Association shall not be obligated to replace such real or personal
property if seventy-five percent (75%) or more of the voting power of the Condominium
Association elects to distribute the condemnation award rather than make such
replacement, in which case it shall be disbursed to each Unit Owner (subject to the rights
of the Mortgagees (other than Declarant/Developer Mortgagee». If the Condominium
Association Members do not elect, within sixty (60) days after the taking of the
Condominium Association property, to distribute the condemnation award, the
Condominium Association Board shall proceed with such repair and restoration and the
acquisition and improvement of new property, and may levy a Special Assessment on the
Unit Owners in accordance with Section 6.7 to raise any funds needed for such purpose
in excess of the condemnation award. If the Condominium Association Members do not
Declaration o/Covenants and Restrictions
For Cedar Springs Meadows Condominiums
270/40
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09:t644:~
C00723
approve such Special Assessment, if such approval is required, the Condominium
Association Board shall perform such repair and restoration work and make such
acquisitions as are possible with the available funds.
9.4 Taking of Units. In the event of a taking of some or all of the Units, those
Unit Owners whose Units are taken shall be entitled to retain (subject to the rights of the
Mortgagees (other than Declar~nt/Developer Mortgagee) and any unpaid assessments)
the award made to them for such taking, and any such award shall be paid only to such
Unit Owners. The Condominium Association shall, within ninety (90) days after the
taking cause an amended Condominium Plat depicting the new configuration of the Units
and the revised number of Units, and shall prepare an amendment to this Declaration to
be executed by all Unit Owners, Mortgagees (other than Declarant/Developer
Mortgagee), and other persons or entities required by law to execute such documents, and
record such amendment in the Office of the County Recorder, and all unit Owners and
Mortgagees (other than Declarant/Developer Mortgagee) hereby agree, and such other
persons or entities are deemed to agree, to execute all such documents.
9.5 No Limitation of Remedies. Nothing contained in this Article IX shall be
deemed to limit the right of a Unit Owner to pursue all available legal remedies and
obtain all compensation to which such Unit Owner may be entitled by reason of the
taking of or damage to his or her Unit.
ARTICLE X.
PROTECTION OF MORTGAGEES
10.1 Conflict. The provisions and requirements of this Article X and any other
provisions and requirements of the Conc;lominium Declaration relating to the rights of
Mortgagees (i) shall prevail over any conflicting provisions of this Declaration, the
Condominium Articles, the Condominium Bylaws; and (ii) are in addition to any other
provisions of this Declaration.
10.2 Application of Assessments. No Mortgagee shall be liable for the payment
of assessments against an Unit, except those accruing after such Mortgagee obtains title
to such Unit pursuant to its remedies under its Mortgage.
10.3 Subordination of Assessment Lien. The lien of any assessment created
under this Declaration which arises before the time at which a Mortgagee obtains title to
the mortgaged property shall be subordinate to the lien of the Mortgage held by the
Mortgagee. However, the sale or transfer of title to property by deed, assignment or
conveyance in lieu of foreclosure, or any other voluntary conveyance of title, shall not
relieve (i) a Unit Owner or its grantee or other successors and assigns (whether as a
result of a foreclosure or deed-in-lieu of foreclosure or otherwise by specifically
excluding any Mortgagee itself or Declarant/Developer, or an affiliate of
Declarant/Developer, with respect to an Unit Interest it, or such affiliate, reacquires after
D;claration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
28 of 40
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the initial conveyance of such Unit Interest by Declarant/Developer) from liability from
any charges which become due and payable before such sale or transfer, or (ii) Unit
Owner or its grantee or other successors and assigns from liability from any charges
which thereafter become due and payable, as the case may be.
lOA Limitation of Enforcement Against Mortgagees. No violation of this
Declaration by a Unit Owner or enforcement of this Declaration against a Unit Owner
shall impair, defeat or render invalid the lien of any Mortgage against the Unit Owner's
property, but this Declaration shall be enforceable against any Unit Owner whose title is
acquired by foreclosure, trustee's sale, voluntary conveyance, or otherwise.
10.5 Notice by Mortgagees. All persons and entities holding a Mortgage
affecting any portion of the Development Land shall give written notice to the
Condominium Association Board of the nature of their interests in the Development
Land, as well as the recording information pertaining to all deeds of trust, mortgages and
other security instruments encumbering property in the Condominium Property, and the
amount of indebtedness secured by any such deed of trust, mortgage or security
instrument. Any person who has not given he notice required by this Section 10.5 shall
not be entitled to the rights of a Mortgagee accorded by this Declaration.
10.6 Notice. All Mortgagees are entitled, upon written request and after
furnishing their addresses in writing to the Condominium Association Manager, to
receive written notice from the Condominium Association Manager of any default by a
Unit Owner under this Declaration which is not cured within thirty (30) days.
ARTICLE XI.
INSURANCE
11.1 Condominium Association. The Condominium Association shall have the
power and duty to obtain and pay the cost of:
(a) Damage to Property. On and after the Starting Date, insurance against
loss or dam~ge to the Condominium Common Area Furnishings, by fire and other risks
and hazards customarily covered by an insurance policy written on all risk basis,
including, to the extent available at a reasonable cost, earthquakes and environmental
risks. The stipulated amount of such insurance shall be based on the full replacement
cost thereof at the time and place of loss, and the Condominium Association shall either
(a) annually update such stipulated full replacement cost amount to reflect the-current
estimated full replacement cost thereof, or (b) procure and maintain an endorsement
which provides for full reimbursement for the actual cost of repair or replacement
thereof, without deduction for depreciation.
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
29 of 40
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C00725
(b) Burglary and Theft. On and after the Starting Date, insurance against
hazards such as burglary and theft covering the Condominium Common Area
Furnishings and any other personal property owned by the Condominium Association.
(c) Directors. Officers and Employees, To the extent available at a reasonable
cost, directors' and officers' liability insurance, Workers' Compensation Insurance and
any other insurance deemed necessary or desirable by the Condominium Association.
Such other policies of insurance shall cover such risks, be written by such insurers, and
be in such amounts as the Condominium Association shall deem necessary and proper
under the circumstances. The Condominium Association shall cause to be covered by a
fidelity bond or insurance providing for a blanket crime endorsement, any employee or
agent of the Condominium Association Manager or the Condominium Association who
may have care of funds of any Unit Owner, Permitted User, or of the Condominium
Association. The loss coverage under any such bond or policy shall be not less than the
maximum amount of funds of the Condominium Association over which the principals
under the bond or policy may reasonably be expected to have control or access at any
time. All insurance policies obtained by the Condominium Association hereunder shall
comply with all requirements imposed under the This Declaration and, in addition, shall
name all Unit Owner (as a class), Declarant/Developer (individually), the Condominium
Association Manage (individually) and any Mortgagee or beneficiary under a Prior
Mortgage encumbering all or an Declarant/Developer Interests as Declarant/Developer
shall designate by written notice to any officer of the Condominium Association, as
additional insureds. Liability insurance shall contain appropriate waivers of subrogation
against any Unit Owner member of such owner's household, and a provision that no act
or omission by a Unit Owner, unless acting within the scope of his or her authority on
behalf of the Condominium Association, will void the policy or operate as a condition to
recovery by any other person under sucµ policy.
(d) Liability Insurance. On and after the Starting Date, the Condominium
Association, at its sole expense, shall cause to be obtained any such liability insurance as
may be required.
11.2 Unit Owner. Each Unit Owner shall have the obligation and duty to
obtain, maintain and pay the cost of:
(a) Damage to Property. On and after the Starting Date, insurance against
loss or damage to the real property comprising the Units and any personal property of the
Declarant/Developer contained therein, by fire and other risks and hazards customarily
covered by an insurance policy written on all risk basis, including, to the extent available
at a reasonable cost, earthquakes and environmental risks. The stipulated amount of such
insurance shall be based on the full replacement cost thereof at the time and place of loss,
and each Unit Owner shall either (A) annually update such stipulated full replacement
cost amount to reflect then-current estimated full replacement cost thereof, (B) procure
Declaration o/Covenants and Restrictions
For Cedar Springs Meadows Condominiwns
300/40
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000726
and maintain an endorsement which provides for full reimbursement for the actual cost of
repair or replacement thereof, without deduction for depreciation.
(b) Burglary and Theft - Personal Property. On and after the Starting Date,
insurance against hazards such as burglary and theft covering all personal property
contained within a Unit Owner's Residence. All insurance policies obtained by a Unit
Owner hereunder'shall name any Mortgagee under a Prior Mortgage encumbering such
Unit Owner's Unit as an additional insured.
(c) Liability Insurance. On and after the Starting Date, each Unit Owner, at
his or her sole expense, shall cause to be obtained and continually maintained
comprehensive public liability insurance against claims for personal injury, bodily injury,
death and property damage occasioned by accidents occurring in his or her Unit.
ARTICLE XII.
MISCELLANEOUS PROVISIONS
12.1 Amendment.
(a) Condominium Declaration. This Declaration may be amended as set forth
below:
(i) This Declaration may be amended by Declarant/Developer at any time
prior to the Starting date provided that any amendment authorized by this Section
12.1(a)(i) shall be evidenced by an instrument in writing, signed and
acknowledged by Declarant/De,veloper.
(ii) Notwithstanding any provision in this Declaration to the contrary,
Declarant/Developer, acting alone, reserves to itself the right and power to modify
and amend this Declaration to correct clerical, typographical or technical errors,
or to modify and amend this Declaration to comply with the requirements,
standards, or guidelines of any department of real estate or real estate commission
or any governmental authority having jurisdiction over the Condominium
Property.
(iii) This Declaration may be amended from and after the starting Date only
with the unanimous consent of the Condominium Association Board, the approval
of the majority of the Unit Owners.
(iv) Any amendment under the provisions of this Section 12.1 shall be binding
upon every Unit Owner and every Unit Interest whether the burdens thereon are
increased or decreased, and such amendment shall be effective e upon its
recordation in the Office of the County Recorder.
Declaration o/Covenants and Restrictions
For Cedar Springs Meadows Condominiwns
310/40
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12.2 Termination.
(a) Consent. Subject to the provisions of Article IX of this Declaration, this
Declaration shall remain in effect from the date of recordation hereof until such time as it
is terminated. This Declaration may be terminated at any time after the date of
recordation of this Declaration in accordance with the Condominium Bylaws and
authorizing the Condominium Association, as trustee for all Unit Owners, to sell the
interests of the Unit Owners in the Condominium Property subject to the rights of any
Mortgagees of the Unit Owners. In the event of such termination, Declarant/Developer,
for each Unit Interest owned by Declarant/Developer, and each Unit Owner, by accepting
the conveyance of a Unit Interest, whether or not it shall be so expressed in the Original
Deed, hereby confers upon the Condominium Association, as trustee, the power and
authority to sell, conveyor otherwise transfer the interest of the Unit Owners in the
Condominium Property, and this Declaration shall terminate upon the consummation of
such sale and the recordation of an instrument stating that this Declaration is terminated
pursuant to this Section 12. 2(a). Notwithstanding the termination of this Declaration as
hereinabove provided in this Section 12.2(a) and the termination thereby of all the
covenants, conditions, restrictions, easements, rules and regulations, liens and equitable
servitudes created by this Declaration, the existence of the Condominium Association
shall continue for so long as reasonably required to provide of the collection and
disbursement of the proceeds from the sale, conveyance or transfer of interests of the
Unit owners in the Condominium Property.
(b) Sale in Lieu of Partition. .In the event that no conveyance, sale or transfer
of the interests of the Unit Owners in the Condominium Property shall have been effected
by the Condominium Association withip nine (9) months after the events described in
Section 12.2(a) have occurred, any Unit Owner, including Declarant/Developer, shall
have the right to petition a court of competent jurisdiction for the sale of the interests of
the Unit Owners in the Condominium Property in lieu of partition. Such court shall
recognize and give effect to any agreement, document or instrument made or entered into
by the Condominium Association within such nine (9) month period, and pursuant to
which the interests of the Unit Owners in the Condominium Property shall be conveyed,
sold or transferred.
(c) Proceeds, The proceeds from a sale of the interests of the Unit Owners in
the Condominium Property (i) by the Condominium Association pursuant to the power of
sale conferred upon the Condominium Association, as set forth in Section 12.2(a), or (ii)
(b) a referee appointed to do so pursuant to a decree of partition obtained pursuant to
Section 12.2(b), above, shall be distributed by the Condominium Association, as trustee,
to each Unit owner, including Declarant/Developer, with respect to each Unit Interest,
subject to the rights of each Unit Owner's Mortgagee and in accordance with the method
for determining the Condominium Assessment; provided, however, that there shall be
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
320f40
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deducted from eh amount due any Unit Owner, the amount, if any, of all sums due to the
Condominium Association from such Unit Owner.
12.3 Declarant/Developer's Right to Cure Alleged Defects. It is
. Declarant/Developer's intent that all improvements constructed or made by
Declarant/Developer in the Condominium Property be built or made in compliance with
all applicable building codes and ordinances and that such improvements be of quality
that is consistent with Recital D. Nevertheless, due to the complicated nature of
construction and the subjectivity involved in evaluating such quality, disputes may arise
as to whether a defect exists and Declarant/Developer's responsibility therefore. It is
Declarant/Developer's intent to resolve all disputes and claims regarding Alleged Defects
(as defined below) amicably, and without the necessity of time-consuming and costly
litigation. Accordingly, the Condominium Association, Condominium Association
Board and all Unit Owners shall be bound by he following claim resolution procedure:
(a) Declarant/Developer's Right to Cure. In the event that the Condominium
Association, Condominium Association Board or any Unit Owner of Unit Owners
(collectively, "Claimant") claim, contend or allege that any portion of the Condominium
Property including, without limitation, any Unit, and/or any improvements constructed on
the Condominium Property, are defective or that Declarant/Developer or its agents,
consultants, contractors or subcontractors were negligent in the planning, design,
engineering, grading, construction or other development thereof (collectively, an
"Alleged Defect"), Declarant/Developer hereby reserves the right to inspect, repair and/or
replace such Alleged Defects as set forth herein.
(b) Notice To Declarant/Developer. In the event that a Claimant discovers
any Alleged Defect, Claimant shall, within a reasonable time after discovery, notify
Declarant/Developer in writing, at the address specified in Section 12.4 of this
Declaration, or such other address at which Declarant/Developer maintains its principal
place of business, of the specific nature of such Alleged Defect ("Notice of Alleged
Defect").
(c). Right to Enter. Inspect. Repair. and/or Replace. Within a reasonable time
after the receipt by Declarant/Developer of a Notice of Alleged Defect or the independent
discovery of any Alleged Defect by Declarant/Developer, as part of
Declarant/Developer's reservation of right, Declarant/Developer shall have the right,
upon reasonable notice to Claimant and during normal business hours, to enter unto or
into, as applicable, any Unit, and/or any improvements or other portion of the
Condominium Property for the purposes of inspecting and, if deemed necessary by
Declarant/Developer, repairing and/or replacing such Alleged Defect. In conducting such
inspection, repairs and/or replacement, Declarant/Developer shall be entitled to take any
actions as it shall deem reasonable and necessary under the circumstances.
Declaration o/Covenants and Restrictions
For Cedar Springs Meadows Condominiums
330/40
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(d) Legal Actions. No Claimant shall initiate any legal action, cause of
action, proceeding, reference or arbitration against Declarant/Developer alleging damages
(i) for the costs of repairing or the replacement of any Alleged Defect, (ii) for the
diminution in value of any real or personal property resulting from such Alleged Defect,
or (iii) for any consequential damages resulting from such Alleged Defect, unless and
until (1) Claimant has delivered to Declarant/Developer a Notice of Alleged Defect and
(2) Declarant/Developer, has, within ninety (90) days after its receipt of such Notice of
Alleged Defect and (2) Declarant/Developer has, within ninety (90) days after its receipt
of such Notice of Alleged Defect, either (A) failed to repair or replace such Alleged
Defect or (B) if such Alleged Defect cannot reasonably be repaired or replaced within
such ninety (90) day period, failed to commence such repair or replacement of the
Alleged Defect and, thereafter, failed to pursue diligently such repair or replacement to
completion.
(e) No Additional Obligations: Irrevocability and Waive of Right. Nothing
set forth in this Section 12.3 shall be construed to impose any obligation on
Declarant/Developer to inspect, repair or replace any item or Alleged Defect for which
Declarant/Developer is not otherwise obligated to do under applicable law. The right of
Declarant/Developer to enter, inspect, repair, and/or replace reserved hereby shall be
irrevocable and may not be waived or otherwise terminated except by a writing, in
recordable form, executed and recorded by Declarant/Developer in the Office of the
County Recorder.
(f) Waiver. Notwithstanding anything to the contrary in this Section 12.3,
Declarant/Developer hereby disclaims any representations and warranties in respect of,
shall have no continuing liability to any Unit Owner for, any design or co~struction
defects (whether known or unknown) rÿlating to the Project, including latent defects.
12.4 Notices. Notices provided for in his Condominium Declaration shall be in
writing and shall be deemed sufficiently given either when delivered personally at the
appropriate address set forth below (in which event, such notice shall be deemed effective
only upon such delivery) or forty-eight (48) hours after deposit of same in any United
States post office box in the state to which the notice is addressed, seventy-two (72) hours
after deposit of same in any such post office box other than in the state to which the
notice is addressed postage prepaid, addressed as set forth below. Any notice to a Unit
Owner required under this Declaration shall be addressed to the Unit Owner at the last
address for such Unit Owner appearing in the records of the Condominium Association.
Notices to the Condominium Association shall be addressed as follows:
LDL Properties, LLC
P.O. Box 842
Thayne, WY 83127
Declaratioll ofCovellallts alld Restrictiolls
For Cedar Sprillgs Meadows COlldomilliums
340f40
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Notices to the Condominium Association Manage shall be addressed to the
address designated by the Condominium Association Manager by written notice to
all Unit Owners:
LDL Properties, LLC
P.O. Box 842
Thayne, VVY 83127
Notices to DeclarantJDeveIoper shall be addressed as follows:
LDL Properties, LLC
P.O. Box 842
Thayne, VVY 83127
The addresses and addresses for purposes of this Section 12.4 may be changed by
giving notice of such change in the manner herein provided for giving notice. Unless and
until such notice is received, the last address and addressee as stated by notice or as
provided herein, if no notice of change has been sent or received, shall be deemed to
continue in effect for all purposes hereunder.
12.5 Notification of Sale of Unit Interest. No later than thirty (30) days after
the sale or transfer of any Unit Interest under circumstances whereby the transferee
become the Unit Owner thereof, the transferor or the transferee shall notify the
Condominium Association in writing orca) the name and address of the transferee and
transferor, (b) the date on which such sale or transfer is to be or was consummated, (c) a
statement executed by the transferee tha.t the transferee has received from the Unit
Owner, and acknowledges receipt of, a copy of the Governing Instruments and a
Statement of Status, (d) a statement executed by the transferee that the transferee has
received a copy of then effective e Condominium Association Budget, (e) a statement
executed by the transferee that the transferee agrees to be bound by all of the provisions
of the Governing Instruments, and (f) the name and address of any Mortgagee of such
transferor and transferee. Any outstanding and unpaid Assessments and Personal
Charges shàll be paid to the Condominium Association prior to the transfer of such Unit
Interest. Any outstanding and unpaid Assessments shall be the obligation of the
transferee unless paid prior to transfer by the transferor. Unless and until such notice is
given and any unpaid Assessments and Personal Charges have been paid to the
Condominium Association on behalf of the transferor, the Condominium Association
shall not be required to recognize the transferee for any purpose. Prior to (i) receipt of
any such notification by the Condominium Association of the Condominium Association
Manager and (ii) the payment of Assessments and Personal Charges by the transferor,
any and all communications required or permitted to be given by the Condominium
Association shall be deemed duly given and made to the transferee if duly and timely
made and given to such transferee's transferor.
Declaration of Covenants and RestrictiollS
For Cedar Springs Meadows Condominiums
350f40
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03:l6442
000731
12.6 Severability and the Rule Against Perpetuities. If any provision of this
Declaration, or any paragraph sentence, clause, phrase or word or the application thereof
in any circumstances, shall be held invalid, the validity of the remainder of this
Declaration and of the application of such provision, sentence, clause, phrase or word
under any other circumstances shall not be affected thereby. If any provision of this
Declaration would violate the Rule Against Perpetuities or any other limitation on the
duration of the provisions contained herein imposed by law, then such provisions shall
be deemed to remain in effect only for the maximum permissible period permitted by law
or until twenty-one (21) years after the death of the last survivor of the now living
descendants of Former President George H. Bush or President George W. Bush,
whichever is later.
12.7 Successors. The provisions of this Declaration shall be binding upon all
parties owning a Unit Interest or having or acquiring any right, title or interest therein and
shall be for the benefit of each Unit Owner and such Unit Owner's heirs, successors and
assigns. Each Unit Owner and Declarant/Developer shall be fully discharged and
relieved of liability on the covenants herein insofar as such covenants relate to each Unit
Interest upon ceasing to own such Unit Interest and paying all sums and performing all
obligations hereunder insofar as the same relate to each Unit Interest up to the time his or
her Unit Interest is terminated. The obligations and rights of Declarant/Developer under
this Declaration shall be binding upon, and inure to the benefit of, any and all successors
in Ownership Interest to the Project.
12.8 Violation or Nuisance. Every act or omission whereby any provision of
the Governing Instruments is violated in whole or in part is hereby declared to be a
nuisance and may be enjoined or abateq. whether or not the relief sought is for negative or
affirmative action, by Declarant/Developer, the Condominium Association of any Unit
Owner.
12.9 Violation of Law, Any violation of any state, municipal or local law,
ordinance or regulations pertaining to the ownership, occupancy or use of any of the
Condominium Property is hereby declared to be a violation of this Declaration and
subject to any or all of the enf~rcement procedures set forth herein.
12,10 Interpretation. The captions of the Articles., Sections hereof are for
convenience only and shall not be considered to expand, modify or aid in the
interpretation, construction or meaning of this Declaration. As used herein the singular
shall include the plural and the masculine shall include the feminine and neuter.
12.11 Construction, Waiver. The provisions of this Declaration shall be liberally
construed to effect its purpose of creating a uniform plan for the development of a
transient residential community. The failure to enforce any provision of this Declaration
shall not constitute a waiver thereof or of the right to enforce such provision thereafter.
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
36 of 40
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C00732
12.12 Termination. The plan of condominium ownership and the Condominium
Association created by this Declaration and the Condominium Articles and
Condominium Bylaws shall terminate and be of no force and effect when this Declaration
is terminated in the manner provided in this Declaration.
12.13 Indemnity. To the extent not covered by insurance maintained or required
to be maintained by the claiming Unit Owner, each Unit Owner shall indemnify, defend
and hold each other Unit Owner, the Condominium Association, the Condominium
Association Manager, Declarant/Developer, harmless from and against any and all
Claims, damages, liabilities and expenses (including costs and attorney's fees incurred in
the defense of any claim) arising from the use of occupancy of indemnifying Unit
Owner's Unit or from the conduct of its business or from an activity, work or things
done, permitted or suffered by the indemnifying Unit Owner, or be the Tenants or
Permitted Users of the indemnifying Unit Owner, in or about the Unit or elsewhere in the
Project. This provision shall not permit any person to be indemnified for claims,
damages, liabilities and expenses arising from the negligence or willful misconduct of
that person.
12.14 Constructive Notice and Acceptance: Incorporation o/Condominium
Declaration into Deeds. Every person or entity who now or hereafter owns or acquires
any right, title or interest in or to any portion of the Condominium Property is and shall
be conclusively deemed to hav~ consented and agreed to every covenant, condition,
restriction and provision contained in this Declaration, whether or not any reference to
this Declaration is contained in the instrument by which such person acquired an interest
in the Condominium Property. Any deed or other instrument by which all or any portion
of the Condominium Property is conveyed, whether by fee, easement, leasehold interest
or otherwise, shall be subject to the provision of this Declaration or any instrument of
conveyance shall be deemed to incorporate the provisions of this Declaration, whether or
not such instrument makes reference to this Declaration.
12.15 Cumulative Remedies. Each remedy provided for in this Declaration shall
be cumulatiye and not exclusive. The failure to exercise any remedy provided for in this
Declaration or any other document shall not constitute a waiver of such remedy or of any
other remedy provided herein or therein.
12.16 Attorney's Fees and Costs. If any party shall bring an action or
proceeding (including, without limitation, any cross-complaint, counter-claim, third party
claim or arbitration proceeding) against a Unit Owner or the Condominium Association
Manager, by reason of he alleged breach or violation of any provision hereof, or for the
enforcement of any provision hereqf, or to interpret any provision hereof, or otherwise
arising out of this Declaration the prevailing party in such action or proceeding shall be
entitled to its costs and expenses of such action or proceeding, including, but not limited
to, its actual attorney's fees, which shall be payable by the non-prevailing party whether
Declaration o/Covenants and Restrictions
For Cedar Springs Meadows Condominiums
370/40
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'. 091.6442
COC?33
or not such action or proceeding is prosecuted to judgment or award. For the purposes of
this Declaration, the tenn "attorneys' fees" shall mean the fees and expenses of counsel
to the parties hereto, which ma include fees incurred with respect to post-judgment
motions, contempt proceedings, garnishment, levy, debtor and third-party examinations,
discovery, bankruptcy, litigation, and may include expenses such as printing,
photostatting, duplication, facsimiles, filing fees, air freight chares and fees billed for law
clerks, paralegal and other persons not admitted to the bar but peIforming services under
the supervision off an attorney, all of which shall be deemed to have accrued upon the
occurrence of the act or omission giving rise to the incurrence of such fees.
12.17 No Public Dedication. Nothing herein contained shall be deemed a gift or
dedication of any portion of th~ Condominium Property or portion thereof to the general
public, or for the general public or for any public use or purpose whatsoever; it being the
intention and understanding of the parties hereto that this Declaration shall be limited to
and for the purposes herein expressed solely for the benefit of the Unit Owners.
12.18 Governing Law. This Declaration shall be governed by the laws of the
State of Wyoming without giving effect to the principles of conflict of laws thereof.
12.19 Arbitration. All disputes not involving claims for indemnity or unpaid
Assessments and arising under this Declaration between Declarant/Developer, the
Condominium Association or the Condominium Association Manager, on the one hand,
and any Unit Owner, on the other hand, shall, upon the request of any party, be resolved
by binding arbitration conducted by a single, neutral arbitrator. The arbitration shall be
conducted in accordance with the Commercial Arbitration Rules of the American
Arbitration Association. The arbitrator selected shall be qualified in the subject matter of
the arbitration. The decision of the arb~trator shall be conclusive and binding upon the
parties and shall be enforceable through procedures adopted under the laws of the State of
Wyoming for the enforcement of arbitration awards. The cost of the arbitration shall be
borne equally by the parties unless otherwise awarded by the arbitrator. Any claim which
any party has against another party pertaining to the matters set forth or referred to in this
Declaration must be presented by the claiming party the other within one (1) year of the
date the claiming party knew or should have known of the facts giving rise to the claim.
Unless the party against whom any claim is asserted waives the time limits set forth
above, any claim not brought within the time periods specified shall be waived and
forever barred. When a matter must be resolved by arbitration, the arbitrator shall use the
following standard to resolve such matters: the arbitrator shall detennine whether the
action in question needs to be taken, and if so, then the arbitrator shall make a
determination as to which action should be taken. When considering whether the action
must be taken, the arbitrator shall rule that such action be taken if such action is required
to maintain the common scheme or plan outlined in the Recitals.
12.20 Provisions Runs With Land. The provisions of this Declaration are
intended to run with the land. When any interest in real property in the Condominium
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiwns
380f40
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Property is conveyed, the inter~st shall be burdened by the provisions of this Declaration
for the benefit of the remaining portions of the Condominium Property and the interest
conveyed shall be entitled to the benefit of this Declaration until terminated pursuant to
Section 12.2.
12.21 Acknowledgements. Each Unit Owner is hereby advised of the following
matters affecting the Units, the Project and the Unit Owner's use and enjoyment thereof:
(a) Rules and Regulations. Easements. Roads within the Project are or
may be subject to restricted or gated access limitations, and are or may be subject to the
Project Rules and Regulations, and the Project Association may hold easements to and is
responsible for maintaining the roads.
(b) Construction. Substantial construction-related activities relating to
the development of the Project or other developments within or near the Project may
cause considerable noise, dust and other inconveniences to the Unit Owners.
(c) Land Use Restrictions. Properties located within the Project may be
developed pursuant to the land uses and restrictions set forth in the PUDPlan with no
representation being made herein concerning the planned uses of such other properties.
The zoning for the Project is established and governed by the PUD Plan. Any
amendment of the PUD Plan requires approval by the Board of County Commissioners of
Lincoln County, Wyoming. Each Unit Owner acknowledges and agrees that such Unit
Owner has not relied upon any statements or representations regarding the Condominium
Project or any other properties except for the statements and representations expressly set
forth in this Declaration and the PUD Plan. Each Unit Owner further acknowledges and
agrees that such Unit Owner will not té\ke an action to impair or delay any development
of real property governed b y the PUD Plan as long as such development complies with
the PUD Plan.
(d) Amenities. No interest in or right to use any amenity located near the
Project shall be conveyed to any Unit Owner pursuant to this Declaration. The owners of
any facilities that are not part of the Condominium Property shall have the right, in their
sole discretion, to remove, relocate, discontinue operation of, restrict access to, charge
fees for the use of, sell interests in or otherwise deal with such assets in their sole
discretion without regard to any prior use of or benefit to any Unit Owners.
(e) Inconveniences. Ownership of real property in mountain areas
involves certain inherent inconveniences. Those include, but are not limited to,
(a) dripping water onto decks and porches from snow melt,
(b) snow and ice build-up on decks and porches and sliding
from these surfaces during winter months, and
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
39 of 40
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03j~6442
COOt135
(c) other inconveniences arising from the sometimes variable
weather conditions in the Rocky Mountains.
IN WITNESS WHEREOF, Declarant/Developer has caused this Declaration to be
executed as of the day and year first-above written.
"DECLARANT/DEVELOPER":
LDL PROPERTIES, LLC
A Wyoming limited liability company
COUNTY OF LINCOLN
)
)
)
STATE OF WYOMING
'('?
This instrument was acknowledged before me on the 9--d day of October, 2005, by
James K. Sanderson forTom Lewis, Managing Member of LDL PROPERTIES, LLC, a
Wyoming limited liability company.
~{d, ßÅ1)~
Notary Public
My Commission Expires:
'6 -S~Dq
(SEAL)
HaD! BROWN· NOTARV PI.ØJO
County of . 8t8Ie at
UncoIn ~
My CorrmI8IIon &pIr8I Auguet e. aooo
Declaration of Covenants and Restrictions
For Cedar Springs Meadows Condominiums
40 of 40
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031.644Z
EXHIBIT A
IQ
CONDOMINIUM DECLARATION
DESCRIPTION
The Merica property, as referred to in the Deed recorded in Book 419 PR, on Page 744,
and the Borden property, as referred to in the Deed recorded in Book 419PR, on Page
746, with the Office of the Clerk of Lincoln County, Wyoming, within the NW1I4SW1I4
of Section 1, T34N, R119W, of the 6th P.M., Lincoln County, Wyoming, the metes and
bounds being more particularly described as follows:
BEGINNING at the BLM typ~ monument marking the Marlowe A. Scherbel PLS 5368
1994 location for the Southwest corner of the NE1I4 of said Section 1; thence
S88°52'23"E along the South line of said NE1I4 1,320.08 feet to a BLM type monument
marking the Lloyd B. Baker PE/LS 698 2004 location for the Northwest corner of the
E1I2SE1I4 of said Section 1; thence S0033' 17"W along the West line of said E1I2SE1I4,
1,323.36 feet to an Aluminum Cap on Iron Pipe marking the Lloyd B. Baker PE/LS 698
2004 location for the Northeast corner of the SW1I4SE1I4; thence N88° 52'33"W along
the North line of said SW1I4SE1I4, 570.01 feet to an Aluminum Cap on Iron Pipe
marking the Southeast Corner of the Woolley Property as referred to in the Deed
recorded, in Book 440PR, on Page 209, with said Office, thence No033 '07"E, parallel to
the East Line of the SW1I4 of said Section 1, along the East line of said Woolley
Property, 302.00 feet to an aluminum c~p on Iron Pipe, marking the Northeast corner of
said Woolley property; thence N88°52'33"W, parallel to the North line of said
SW1I4SE1I4, along the North line of said Woolley property, 750.00 feet to an Aluminum
Cap on Iron Pipe marking a point in said East line; thence N0033 '07"E along said East
line 1,021.43 feet to the Point of Beginning, containing 34.90+ acres.
TOGETHE~ WITH: That Right-of-Way Easement recorded in Book 374PR, on Page
163, with said Office.
TOGETHER WITH and SUBJECf TO: All Easements, Exceptions, Reservations,
Restrictions, Rights-of-Way and Improvements of sight and or record.
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091.6442
r 0 r: ~'1 j'" 7
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EXHIBIT B
m
CONDOMINIUM DECLARATION
MASTER DEFINITIONS
As used herein, the following terms shall have the following meanings:
a. "Act" means the Wyoming Condominium Ownership Act (W.S. 34-20-101 et
seq., as amended and ,supplanted from time to time).
b. "Additional Insured~" means, Declarant and/or any successors or assigns, (i)
the Condominium Association, (ii) the Condominium Association Board, (iii)
Condominium Association Manager (and any constituent officer, director, shareholder,
member or partner of any of the foregoing).
c. "Agreed Rate" is the prime rate of interest commonly called the "prime rate"
which is charged from time to time by such bank as shall be selected by the
Condominium Association, to corporate borrows of the highest credit standing for short
term unsecured loans, plus two hundred (200) basis points, but not to exceed an amount
of interest which is the maximum amount which can be charged by law under the
circumstances.
d. "Assessments" means, colleotively, the Condominium Assessment, Tax
Assessment of whatever nature, Special Assessment and Reconstruction Assessment.
e. "Association" means the Condominium Association.
f. "Baseline Utilities Expenses" means the costs of water, electrical, telephone,
cable televi.sion, gas refuse pick-up, garbage disposal and other utility services for the
Condominium Property not otherwise directly billed to a Unit Owner.
g. "Basic Services" means those services proved by the Declarant to the Unit
Owners that generally are essential to the use of the Exclusive Condominium Areas for
residential purposes and specifically are set forth on the list of services attached as
EXHIBIT C to the Condominium Declaration.
h. "Common Area Expenses" means collectively:
(i) all Condominium Association Operating Expenses;
(ii) all Condominium Association Reserve Expenses;
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(iii) all Condominium Association Utility Expenses; and
(iv) any and all costs of providing Structural and Mechanical Supþort that is not
included within the definitions of "Condominium Association Expenses", "Condominium
Association Reserve Expenses", "Condominium Association Utility Expenses".
h. "Common Elements" means the easements granted pursuantto (i) Section 3.11
of the Condominium Declaration (which provides for access from publicly dedicated
streets to the Non-Exclusive Common Areas and the Parking Areas and also pedestrian
ingress and egress to and from, over, through and across the Non-Exclusive Common
Areas and Parking Areas), and (ii) Section 3.1.2(a) of the Condominium Declaration
(which provides for support as provided by all structural members, columns, footing and
foundations which are part of the Condominium Project and which are necessary for the
support of any Unit), and under Section 3.1.2(b) of the Condominium Declaration (which
provides for utilities to serve each Unit), but expressly excludes any fee interest in the
Development Land or any improvements thereto. In avoidance of doubt, for all purposes
of the Condominium Declaration, "Common Elements" is defined above and such
meaning is expressly in lieu of the definition of "common elements" or "general common
elements" as set forth defined in Section 34-20-103(a)(ii)(A) (or any other section) of the
Act (as the Act may be amended from time to time) all as permitted by Section 34-20-
103(a)(iii) of the Act.
i. "Condominium Annual Report" means a report to the Unit Owners comprising
(a) a balance sheet relating to the Condominium Association as of the last day of the
Fiscal Year, (b) an operating statement for such Fiscal Year, (c) a statement of changes in
financial position for such Fisc.al Year, and (d) a list of the names, mailing addresses and
telephone numbers of the members of tQe Condominium Association Board.
j. "Condominium Articles" means the Articles of Incorporation of the
Condominium Association, which is, or shall be, filed in the Officer of the Secretary of
State of Wyoming, as said Articles may be amended from time to time.
k. "Condominium Assessment" means an assessment levied by the
Condominium Association against each Unit in accordance with Section 5.2(f) of the
Condominium Declaration sufficient in amount to fund the Condominium Association
Budget (other than the real property taxes assessed pursuant to the Tax Assessment).
1. "Condominium Association" means Cedar Creek Meadows Condominium
Owners Association, Inc., a Wyoming non-profit mutual benefit association which is
established for the administration, management and operation of the Condominium
Property, the members of which are the Private Residence Owners.
m. "Condominium Association Board" means the Board of directors of the
Condominium Association.
B-2
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091.6442
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n. "Condominium Association Budget" means a pro forma operating statement
for a particular Fiscal Year providing for the Condominium Association Expenses and the
Condominium Association Reserve Expenses.
o. "Condominium Association Expenses" means the aggregate amount of
expenses to be incurred by the Condominium Association under the Condominium
Association Budget and otherwise for a particular Fiscal Year which includes the
Condominium Basic Expenses, the Condominium Reimbursable Expenses and the
Condominium Association's share of the Condominium Association Reserve Expenses
an,d the Condominium Association Expenses.
p. "Condominium Association Management Agreement" means an agreement
between the Condominium Association and Declarant and/or the Condominium
Association Manager providing for the management of the Condominium Associations
and the Exclusive Condominium Areas (excluding the Units).
q. "Condominium Ass~ciation Manager" means the managing agent engaged by
the Condominium Association Board to manage the Condominium Association.
r. "Condominium Association Member" means a member of the Condominium
Assoc.iation.
s. "Condominium Basic Expenses" means the estimated aggregate amount of
expenses that are incurred directly by the Condominium Association during the
applicable Fiscal Year (i.e., those expenses incurred by the Condominium Association);
to provide for the Condominium; Reserve Expenses;
to provide for a contingency fund in the event that some of the Assessments may
not be paid on a current basis;
to carry out the other duties and powers of the Condominium Association under
the Condominium Declaration; and
to provide for the cost and expense of operating and maintaining the Common
Areas.
Without limiting the generality of the foregoing, Condominium Basic Expenses
shall include:
All charges, costs and expenses whatsoever incurred by the Condominium
Association for or in connection with the administration and operation of the
Condominium Property;
B-3
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Taxes assessed against the Condominium Property, to the extent such
Taxes are not separately levied by the County or other governmental agency
against each unit;
Assessments and other similar governmental charges levied on or
attributable to the Condominium Property;
Insurance obtained pursuant to the Condominium Declaration;
To the extent not covered by proceeds of insurance, any liability
whatsoever for loss or damage, fire, accident, or nuisance within the
Condominium Property;
All utility expenses billed to the Condominium Association (not including
the Condominium Utility Expenses);
The unpaid share of any Assessment levied during the previous Fiscal
Year against any Unit Interest for which a default in payment thereof has
occurred, to the extent that the same becomes uncollectible, and
Wages accounting and legal fees, management fees, cleaning fees, and
other necessary expenses of upkeep, maintenance, management and operation
actually incurred with respect to the Condominium Property.
t "Condominium Bylaws" means the Bylaws of the Condominium Association
as such Condominium Bylaws may be amended from time to time.
,
,
u. "Condominium Common Area Furnishings" means all furniture, furnishings,
appliances and other personal property from time to time owned, leased or held for using
in common by the Condominium Association.
v. "Condominium Declaration" means that certain Condominium Declaration of
Covenants, .Conditions and Restrictions for Cedar Creek Meadows Condominiums,
recorded or to be recorded in the Office of the County Recorder, as the same may be
amended from time to time in the manner provided therein.
w. "Condominium Plat" means, as the context requires, one or more of the
Condominium Plats for the Cedar Creek Meadows Condominiums recorded or to be
recorded in the Office of the County Recorder, as the same may be amended from time to
time: For greater certainty, when used in the context of a Unit Interest or a Unit Owner,
"Condominium Plat" shall refer to the specific Condominium Plat depicting the Unit
relating to the Unit Interest in question or in which the Unit Owner owns a Unit Interest
Please note that the plat names may change upon platting.
x. "Condominium Reimbursable Expense" means the estimated aggregate
amount of expenses that are assessed directly by the Developer to the Condominium
B-4
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COOt741
Association during the applicable Fiscal Year to provide for the Condominium
Association's share of the Operating Expenses, the Utility Expenses and any and all costs
of providing Structural and Mechanical Support that is not included within the definitions
of "Operating Expenses."
y. "Condominium Reserve Expenses" means the specific capital expenditures
required to be made at any time and from time to time to provide for the repair and
replacement of any and all personal property owned by the Condominium Association
(including, but not limited to, the Condominium Common Area Furnishings).
Z. "Condominium Rules and Regulations" means the Rules and Regulations
promulgated by the Condominium Association Board, as may be amended from time to
time, relating to the possession, use and enjoyment of the Condominium Property and
governing the use and enjoyment of the Exclusive Condominium Areas.
aa. "Condominium Services" means, collectively, the Basic Services and the
Management Services.
bb. "County" means Lincoln County, Wyoming.
cc. "Curing Entity" means any Mortgagee, any Unit Owner, Developer, a
Member, an Association or other entity which pays the amount due by and cures the
default of any Defaulting Entity.
dd. "Defaulting Entity" means any Mortgagee, any Unit Owner, Developer, a
Member, an Association or other entity which defaults in its obligations under any of the
Governing Instruments.
ee. "Delinquent" means any payment due to an Association which remains
unpaid for more than the number of days after the due date therefore as may be
determined by such Association from time to time, or if no such number of daysis
determined by such Association, fifteen (15) days after the due date therefore.
ff. "Development Land" means the land located in Lincoln County, Wyoming on
Muddy String Road, Thayne, Wyoming, more particularly described in Exhibit A to the
Condominium Declaration.
gg. "Exclusive Common Areas" means those areas designated as such on the
Development Map, the use and rights of which are set for in the Condominium
Declaration.
hh. "Fiscal Year" means, for any Association, the one (1) year period
commencing on the first day of January of each year and ending on the last day of
December of the same year, which shall e the fiscal year of such Association; provided,
however, that the first Fiscal Year shall be the partial one (1) year period commencing on
B-5
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the Starting Date and ending on December 31 of that year; provided", further, that the
Fiscal Year may be changed by each Association as they deem appropriate.
ii. "Force Majeure Event" means (a) act of God or other deity, fire, earthquake,
flood, explosion, action of the elements, war, invasion, insurrection, riot, mob violence,
sabotage, act of terrorism, inability to procure or general shortage of labor, equipment,
facilities.
jj. "General Account" means the separate account(s) with a bank and/or savings
and loan association located within Wyoming and selected by an Association into which
all cash and cash equivalent re~eipts of the Association shall be deposited.
kk. "Governing Instruments" means, collectively, the Declaration, the Articles,
the Bylaws, the Rules and Regulations, the Condominium Declaration, the Condominium
Articles, the Condominium Bylaws, the Condominium Rules and Regulations, the
Condominium Plat, the Residence Club Declaration, the Residence Club Articles, the
Residence Club Bylaws, and the Residence Club Rules and Regulations.
II. "Owner" means when used in reference to the project as a whole,
Declarant/Developer, or any successor(s) in-interest to Owner either (a) by express
assignment of the rights of Owner under the Declaration, Condominium Declaration by
an instrument executed by Owner, recorded in the Office of the County Recorder, and
filed with the Secretary of the Association, Condominium Association, as applicable, or
(b) through foreclosure of the interest of a beneficiary or mortgagee under a Prior
Mortgage of Owner's interest in the Condominium Property provided that such
beneficiary or mortgagee also executes, records in the Office of the County Recorder and
files with the Secretary of the Associati,on.
mm. "Owner Interest" means the Unit Interests owned by Owner as of any
applicable date. Any Unit Interest which is conveyed by Owner to the Association or to
any other person or entity shall no longer be, as of the date of any such conveyance, an
Owner Interest for any purpose hereunder.
nn.· "Owner Mortgagee" means the beneficiary or mortgagee pursuant to a
recorded mortgage or deed of trust encumbering an Unit Owner's Interest. '
00. "Owner's Report" means a statement containing the following infonnation
where applicable:
A status report covering each improvement, if any, included in the
Condominium Property which was scheduled for completion during the quarter
according to the planned construction statement for the Condominium Property
and each still uncompleted improvement that was scheduled for completion
during an earlier quarter;
The number of Owner Interests as of the first and last day of the quarter;
B-6
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031..6442
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If no Condominium Subsidy Agreement is in effect durin'g that quarter, the
total Condominium Assessment and Special Assessment which Owner became
obligated to pay during the quarter;
If no Condominium Subsidy Agreement is in effect during that quarter, the
total Condominium Assessments and Special Assessments actually paid by
Owner to the Condominium Association during the quarter;
If no Condominium Subsidy Agreement is in effect during that quarter, the
amount of any delinquency by Owner in the payment of Condominium
Assessments and Special Assessments that has not been cured as of the date of
such Owner's Report; and
An itemized report of funds, goods and services, if any, furnished, or
caused to be furnished, by Owner to the Condominium Association under the
Condominium Subsidy Agreement, if any, including, without limitation, payment
of Reserve Expenses there under.
pp. "Indexed" shall mean, a.s to any sum of money, that such amount shall be
cumulatively adjusted annually, upon each anniversary of the recordation of the
Declaration in the Office of the County Recorder, to reflect any change in the Consumer
Price Index, as compared with 'such Index from the immediately preceding year. Such
adjustment shall be calculated by multiplying the amount in question by a fraction, the
numerator of which is the Consumer Price Index as of the month in which the adjustment
occurs, and the denominator of which is the Index for the month one year earlier.
"Consumer Price Index" means the U.S.- Department of Labor, Bureau of Labor statistics
Consumer Price Index for all urban consumers, all items, all consumers, for the market
area that includes the Condominium Property, using the years 1982-84 as a base of 100,
or the successor of such Index. If such Index or successor ceases to be published, then
amounts which are Indexed shall be adjusted in accordance with changes in a similar
measure of the cost of living as selected by the Association.
qq.' "Management Services" means those services that are not essential to the use
of the Units for residential purposes but are provided by or on behalf of Owner to the
Condominium Association generally and the Unit Owners specifically based upon the
identity of the Condominium Association Manager and the services that are bargained for
under the terms and conditions of each specific Condominium Association Management
Agreement.
rr. "Mortgage" means a mortgage or deed or trust encumbering an Ownership
Interest.
ss. "Mortgagee" means the beneficiary or mortgagee pursuant to a recorded
Mortgage.
B-7
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tt. "Non-Exclusive Common Areas" means those areas designated as such on the
Map, the use and rights of which are set forth in the Declaration.
uu. "Office of the County Recorder" means the Office of the Clerk of Lincoln
County, Wyoming.
vv. "Original Deed" means each deed from Owner recorded after the date hereof
conveying a Unit Interest, excluding, however, any deed which conveys all or
substantially all of the interest in the Condominium Property then owned by Owner and
which expressly recites that it is not an Original Deed within the meaning of the
Condominium Declaration.
ww. "Ownership Interest" means a fee title interest to any part of the
Condominium Property which is real property.
xx. "Parking Areas" means those areas designated as such on the Map, the use
and rights of which are set forth in the Declaration.
yy. "Permitted User" Means any person who occupies a Unit or any part thereof
with the permission of a Unit Owner, including, without limitation, Tenants, members of
such Unit Owner's family and his or her guests, licensees or invitees.
zz. "Permittee" means any person other than a Unit Owner, Owner or their
Tenants or Permitted Users, who is invited to be and remain on the Property, and
includes, without limitation, employees,. customers, and business invitees of Unit
Owners, Owner and their Tenants or Pennitted Users.
,
aaa. "Personal Charges: means, to the extent not covered by any applicable
insurance, any expense resulting from the act or omission of any Unit Owner or his or her
Permitted User or Permittee, including, without limitation the cost to repair any damage
to any portion of the Condominium Property or to repair or replace any Condominium
Common Area Furnishings on account of loss or damage caused by such Unit Owner or
his or her Permitted Users or Permittees and the cost to satisfy any expense to any other
Unit Owner'(s) or to an Association due to any intentional or negligent act or omission of
such Unit Owner or Pennitted User, or resulting from the breach by such Unit Owner or
Permitted User of any provisions of the Governing Instruments. In amplification of the
foregoing, the act or negligence of a Pennitted User shall be deemed to be the act or
negligence of the Unit Owner who permits such Permitted User to use and occupy any
portion of the Condominium Property.
bbb. "Prior Mortgage" means with respect to each Unit Interest, any first
Mortgage recorded in the Office of the County Recorder and given in good faith and for
val ue.
ccc. "Private Residence Owner" means the owner of a Private ResidenceUnit.
B-8
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ddd. "Private Residence Unit" means a Unit subject to the Condominium
Declaration but not subject to the Residence Club Regime.
eee. "Private Residence Unit Interest" means a Unit Owner's ownership interest
in a Private Residence Unit and in the Common Elements all as set forth in and subject to
the terms and conditions of the Declaration and the Condominium Declaration.
fff. "PUD Plan" means the Planned Unit Development, recorded in the records
of the County Recorder on , in Book _ of Photo at Pages
ggg. "Purchase Agreement" means a purchase and sale agreement by and
between Owner and the person or entity named therein as "Buyer" or "Purchaser"
providing for the sale by Owner and the purchase by such Buyer or Purchaser of a Unit
Interest.
hhh. "Reconstruction Assessment" means an assessment levied by the
Condominium Association for the purpose of raising funds to rebuild, restore or replace
any portion of the Condominium Property suffering damage, as set forth in Article IX of
the Condominium Declaration.
iii. "Reserve Account" means (a) one or more interest-bearing accounts with one
or more banks and/or savings and loan associations selected by an Association or (b) one
or more Treasury Bills and/or Certificates of Deposit, which accounts, Treasury Bills
and/or Certificates of Deposit shall contain funds collected as and for Reserve Expenses,
Condominium Reserve Expenses or Residence Club Reserve Expenses, as the case may
be.
jjj. "Residence" means a Unit and all exterior walls, ceilings and floors that are
immediately contiguous to such Unit.
kkk. "Association" means the Owners' Association, Inc., a Wyoming non-profit
mutual benefit association, the members of which are the Condominium Association and
Owner.
Ill. "Association Board" means the Board of Directors of the Association.
mmm. "Association Budget" means the annual budget of the Association
providing for the Association Expenses and the Reserve Expenses.
nnn. "Association Expenses" means the estimated aggregate amount of
expenses, as set forth in the Association Budget, to be incurred by the Association during
the applicable Fiscal Year:
to provide for the collection of funds from the Association Members on an
annual basis for the purchase, maintenance and repair of fixtures and equipment
owned by the Association;
B-9
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to replace any deficit arising because of any Association Member's failure
to pay any amount required under the Declaration;
to pay the cost of any arbitration or enforcement proceeding to be initiated
by the Association of the Association Manager under the Declaration;
to pay the cost of providing insurance (including any earthquake insurance
required by a Mortgagee or otherwise obtained by the Association) obtained
pursuant to the Declaration;
to pay the cost of accounting, legal fees and other professional fees;
to pay the fees of the Association Manager pursuant to the Association
Management Agreement; and
to pay any costs incurred the Association in performing any act (other than
payment of Association Expenses) or obligation pursuant to the Declaration.
000. "Association Management Agreement" means an agreement between the
Association and the Association Manager providing for the management of the
Association.
ppp. "Association Manager" means the managing agent engaged by the
Association Board to manage the Association (and which may be Owner, Manager or an
affiliate of either Owner or Manager).
qqq. "Association Member" means a member of the Association.
rrr. "Bylaws" means the Bylaws of the Association as such Bylaws may be
amended from time to time.
sss. "Common Areas" means all Exclusive Common Areas, non-Exclusive
Common Areas and Parking Areas.
ttt. "Declaration" means that certain Declaration of Covenants, Conditions and
Restrictions for Cedar Springs Meadows recorded or to be recorded in the Office of the
County recorder, as the same may be amended from time to time in the manner provided
therein.
uuu. "Map" means the drawings for the Condominium Property attached as
Exhibit c to the Declaration that designate all the areas of the Condominium Property as
Exclusive Areas, Exclusive Condominium Areas, Exclusive Common Areas, Non-
Exclusive Common Areas or Parking Areas.
B -10
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vvv. "Operating Expenses" means, collectively, the specific non-capital operating
expenditures required to be made at any time and from time to time to provide for the
operation and maintenance of the Common Areas at the Quality Standard as well as the
cost and expense of all Basic Services and Management Services.
www. "Reserve Expenses" means the specific capital expenditures required to
be made at any time and from time to time to provide for the repair and replacement, at
the Quality Standard, or any part of the Condominium Property.
xxx. "Rules and Regulations" means the rules and regulations relating to the
possession, use and enjoyment of the Condominium Property promulgated by
Declarant/Developer from time to time.
yyy. "Utility Expenses" means, collectively, the specific expenditures required
to be made at any time and from time to time to provide for the provision of utilities to
Common Areas.
zzz. "Roster" means a compilation of the names and addresses of each Unit
Owner.
aaaa. "Special Assessment" means an assessment levied against each Unit
Interest to provide funds to an Association in the event the Condominium Assessment or
Residence Club Assessment, as applicable, proves inadequate, in an aggregate amount
sufficient to provide for such inadequacy.
bbbb. "Starting Date" means the date on which the first Original Deed for a Unit
is recorded.
cccc. "Statement of Status" means with respect to a Unit Interest, a written
statement setting forth the amount of any delinquent Assessments, Personal Charges or
any other amounts unpaid with respect to such Unit Interest.
ddd.d. "Structural and Mechanical Support" means the support that the
Declarant/Developer provides to the Units which is both structural (e.g. columns, beams,
walls, floors, roofs, etc. providing both structural support of, as well as access through
and over driveways, parking areas, lobbies, corridors, elevators, etc., to the Units) and
mechanical (e.g., by virtue of the provision of utilities, HV AC, etc.)
eeee. "Tax Assessment" means, for each Unit Interest and for each Tax Year, an
amount levied by an Association against such Unit Interest equal to a portion of the real
property taxes levied against the Condominium Property and not billed directly to a Unit
Owner by the County.
ffff. "Tax Year" means the one (1) year period beginning January 1 each year
and ending December 31 of the following year or such other tax year established, by the
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State of Wyoming for the assessment of real and personal property taxes attributable to
the Condominium Property.
gggg. "Taxes" means (i) any form of personal property, assessment, real estate,
general, special, ordinary or extraordinary, or rental levy or tax (other than inheritance,
personal income or estate taxes), and/or license fee imposed upon, levied against or
affecting in any way, any legal or equitable interest in the Condominium Property, or any
portion thereof, by any authority having the power to tax or assess and where the funds
are generated with reference to the Condominium Property and where the proceeds so
generated are to be applied by the city, county or other local taxing authority of a
jurisdiction within which the Condominium Property is located, and (ii) any tax, fee,
levy, assessment or charge, or any increase therein, imposed by reason of events
occurring in connection with the Condominium Property, including but not limited to, a
change in the ownership of the Condominium Property, or any portion thereof, and/or
any improvements constructed within the Condominium Property.
hhhh. "Tenant" means any person, other than a Unit Owner, Owner or their
Permittees, who is legally entitled to the use and enjoyment of all or any portion of the
Condominium Property under a lease, tenancy agreement, concession agreement or
similar entitlement.
iiii. "Unit" means an individual air space unit consisting of any enclosed room or
rooms occupying all or any part of a floor or floors of the buildings to be used for
residential purposes and designated for separate ownership or occupancy, each of which
(i) is or shall be separately shown, numbered and designated as such on the applicable
Condominium Plat, (ii) is or shall be bounded by and contained within the interior
unfinished surfaces of the perimeter w,alls, interior walls, floors, ceilings, windows and
doors thereof, and the interior surfaces of the firebox of the fireplace, if any, located
therein extending from the floor to the top of the fireplace, and (iii)does or shall include
the airspace so encompassed, excepting there from (1) the bearing walls, windows and
window frames, exterior door and door frames, columns, exterior floors, roofs, railings,
fences, foundation slabs, exterior wall sUlfaces and central services, pipes, ducts, chutes,
and flues, conduits, wires and other utility installations wherever located within each such
individual air space unit, and (2) all balconies and patios contiguous and related to each
such individual air space unit. A Unit reconstructed in substantial accordance with the
original plans thereof shall be conclusively presumed to be defined by its boundaries
rather than by the metes and bounds (or other description) expressed in the deed or
applicable Condominium Plat, regardless of settling or minor variance between
boundaries.
jjjj. "Unit Interest" means either a Private Residence Unit Interest.
kkkk. "Unit Owner" means a Private Residence Owner.
1111. "Units" means, collectively, each and every Unit.
B - 12
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mmmm. "Use Area" or "Use Areas" means individually or collectively, as
a,pplicable, the Exclusive Areas, Exclusive Condominium Areas, Exclusive Common
Areas, Non-Exclusive Common Areas and/or Parking Areas.
nnnn. "Warranty Deed" means the warranty deed to be executed, acknowledged
and delivered by Owner to a purchaser of a Unit.
B -13
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