Master Deed

Master Deed Declaration of Condominium

Agreement made on the day of , 20, between of , and , a corporation organized and existing under the laws of the state of , with its principal office located at , said and , being hereafter referred to jointly as the Developers.

Whereas, Developers are the owner in fee simple of the land with the improvements on it located at (the Property), being more particularly bounded and described as follows:

Whereas, they as Owners propose to create a condominium governed by and subject to the provisions of , hereinafter referred to as State Statutes, on the above described Property and that the Property above described from and after the date of the recording of this Declaration in the , shall be and continue subject to each and all of the terms of this Declaration and Statutes of until this Declaration is terminated or abandoned in accordance with the provisions elsewhere contained in this Declaration.

Now, therefore, Developers do now declare the following on behalf of themselves, their heirs, executors, administrators, successors, and assigns to their grantees and their respective heirs, successors, assigns, executors, and administrators as well as to any and all persons having, acquiring, or seeking to have or acquire any interest of any nature whatsoever in and to any part of the Property:

I. Definitions

As used in this Declaration or elsewhere in the Condominium Documents, unless otherwise provided, or unless the context requires otherwise, the following terms shall be defined as follows:

A. Unit — Any one of those parts of the Building which is separately described on Architect's Plans as Unit followed by a number.

B. Unit Owner — The person, persons, or entity holding title in fee simple to a unit.

C. Assessment — That portion of the cost of maintaining, repairing, and managing the Property which is to be paid by each Unit Owner, which respective portions, except as specifically otherwise provided in this Declaration, are set forth in Article XVI, Paragraph A of this Declaration.

D. Association — , a corporation organized and existing under the laws of the state of , with its principal office located at . Copies of the Bylaws and Rules and Regulations are attached to and made a part of this Declaration as Exhibits A and B respectively.

E. Building — The entire structure to be located on the Property which will be built substantially in accordance with the plans and specifications prepared by .

F. Common Elements — The common areas and facilities and all that part of the Property which is not within the Units as such Units are shown on the Architect's Plans or which exists within Units by virtue of an easement created in this Declaration.

G. Common Expenses — The actual and estimated costs of:
i. Maintenance, management, operation, repair, and replacement of the Common Elements and those parts of the Units as to which, pursuant to other provisions of this Declaration, it is the responsibility of the Association to maintain, repair and replace;
ii. Management and administration of the Association, including, but not limited to, compensation paid by the Association to a managing agent, accountants, attorneys, and other employees; and
iii. Any other items held by or in accordance with other provisions of this Declaration or the Condominium Documents to be Common Expenses.

H. Common Surplus — The excess of all receipts of the Association including but not limited to assessments, rents, profits, and revenues on account of the common elements, over the amount of common expenses.

I. Condominium Documents — This Declaration and the Exhibits attached hereto as the same from time to time may be amended. The exhibits are as follows:

Architect's Plans (Exhibit C) — A set of floor plans of the Building, showing the layout, location, unit numbers, and dimensions of the units, entitled and bearing the verified statement of certifying that the plans fully and accurately depict the layout, location, unit number, and dimensions of the units as built.

i. Bylaws of (Exhibit A)

ii. Rules and Regulations of the Association (Exhibit B)

J. Developers — and , their heirs, executors, administrators, successors, and assigns.

K. Person — Developer and any individual, firm, corporation, trustee, or other entity capable of holding title to real property.

L. Plans and Specifications — The plans and specifications referred to in Paragraph E of this Article I of this Declaration.

M. Property — The property defined and described above in the opening paragraph of this Declaration.

N. Share — The percentages attributed to each Unit as set forth in Article VI of this Declaration.

II. Condominium Name

The name of this condominium is .

III. Name of Organization of Unit Owners

The name of the organization of unit owners is , a corporation organized and existing under the laws of the state of , with its principal office located at . (the Association) has enacted Bylaws, a copy of which are attached hereto and made a part of this Declaration as Exhibits A.

IV. Description of Building(s)

V. Description of Units

VI. Description of Common Areas and Facilities

VII. Common Elements Use

A. Covenant against Partition. In order to effectuate the intent of this Declaration and to preserve the Condominium and the Condominium method of ownership, the Property shall remain undivided and no person, irrespective of the nature of his or her interest in the Property, shall bring any action or proceeding for partition or division of the Property or any part of it until the termination of the Declaration in accordance with provisions elsewhere contained in this Declaration or until the building is no longer tenantable, whichever first occurs. An exception to this clause in the event of casualty damage is set forth in Article XIV of this Declaration.

B. Rules and Regulations Promulgated by Association. No person shall use the Common Elements or any part of them in any manner contrary to or not in accordance with such rules and regulations pertaining to same as from time to time may be promulgated by the Association.

C. Maintenance, repair, management, and operation of the Common Elements shall be the responsibility of the Association.

D. Expenses incurred or to be incurred for the maintenance, repair, management, and operation of the Common Elements shall be collected from Unit Owners as assessed, in accordance with the provisions contained elsewhere in this Declaration.

E. Subject to the rules and regulations from time to time pertaining to the Common Elements, all Unit Owners may use the Common Elements in such manner as will not restrict, interfere with or impede the use of the Common Elements by other Unit Owners.

F. Alterations and Improvements.

1. If % or more but less than % of the Unit Owners agree to make an improvement to the common areas and facilities, and assess the cost for the improvement, the cost of such improvement shall be borne solely by the Owners so agreeing.

2. % or more of the Unit Owners may agree to make an improvement to the common areas and facilities and assess the cost of the improvement to all Unit Owners as a common expense, but if such improvement shall cost in excess of % of the then value of the condominium, any Unit Owner not so agreeing may apply to the of the County in which the property is located for an order directing the purchase of his or her unit by the organization of Unit Owners at the fair market value of the unit as approved by the Court.

G. Shares of Unit Owners. The Shares of the Unit Owners in the Common Elements shall be as stated in Article VI and may be altered only by amendment of this Declaration executed in form for recording by all of the Unit Owners and First Mortgagees of such Owners.

H. The share of a Unit Owner in the Common Elements is appurtenant to the Unit owned by him, and inseparable from Unit Ownership.

VIII. Maintenance and Repair of Units

A. By the Association.

The Association, at its expense, shall be responsible for the maintenance, repair and replacement of the following:

All portions of the Unit which contribute to the support of the Building, excluding interior wall, ceiling and floor surfaces.

All conduits, ducts, plumbing, wiring, and other facilities for the furnishing of utility services which may be contained in the Unit but excluding appliances, office machinery, and plumbing fixtures.

All incidental damage caused to a Unit by such work as may be done by the Association.

Cause the building, appurtenances, and grounds of the Condominium to be maintained according to reasonably acceptable standards.

Make contracts for sewer, water, exterior lights, refuse collection, exterior electric service, vermin extermination, and other necessary services.

Cause to be placed and kept in force necessary insurance needed adequately to protect the Association, its members and mortgagees.

Funds for the payment of the above and foregoing shall be assessed against the Unit Owners as a common expense.

B. By the Unit Owner.

To maintain, repair, and replace at his or her expense, all portions of the Unit except the portions to be maintained by the Association.

To perform responsibilities in such manner so as not unreasonably to disturb the rights of other persons occupying within the Building.

Not to paint or otherwise decorate or change the appearance of any portion of the Building not within the walls of the Unit, unless written consent of the Association is obtained.

To promptly report to the Association or its agent any defect or need for repairs or maintenance.

Not to make alterations in portions maintained by the Association or do anything that might jeopardize the Building without first obtaining written consent of the Board and first mortgagees.

C. Nothing contained in this Declaration shall be construed so as to impose a contractual liability upon the Association for maintenance, repair, and replacement, but the Association's liability shall be limited to damages resulting from negligence.

IX. Units shall be Constituted as Follows

A. Real Property. Each Unit shall constitute a separate parcel of real property.

B. Boundaries. Each Unit shall be bounded as shown on the Architect's Plans.

C. Appurtenances. Each Unit shall include and pass with all appurtenances, including:

Common Elements.

License to maintain a private passenger automobile at and on a parking space in accordance with the Rules and Regulations.

Easements for the benefit of the Unit.

Stock in the Association and funds and assets held by the Association.

X. Purpose and Use Restrictions

A. The Units shall be used for only those purposes allowed by the zoning Bylaws of the City of .

B. The Common Elements shall be used for the furnishing of services and facilities for which the same are reasonably intended, for the enjoyment of the Units.

C. No Unit shall be occupied by any person not approved in advance by the Board of Directors of the Association. The Association shall signify in writing such approval or disapproval within days.

D. Nuisances — No nuisances shall be allowed upon the Property.

E. Lawful Use — No immoral, improper, offensive, or unlawful use shall be made of the Property.

F. Interpretation — Existing physical boundaries shall be conclusively presumed to be boundaries rather than metes and bounds expressed in documents.

G. Regulations — Regulations concerning use of the Property may be promulgated by the Association; amendments shall be recorded in the .

XI. Conveyances

A. Sale or Lease.

1. Notice to Association — A Unit Owner intending to make a sale or lease shall give written notice to the Association together with the name and address of the intended purchaser or lessee.

2. Election of Association — Within days after receipt of such notice, the Board shall either approve the transaction or furnish a purchaser or lessee approved by the Association.

B. Mortgage — No original Unit Owner may mortgage his or her Unit without approval of the Association except to .

C. Owners' Units and Other Privileges — The original owners (Developers) are empowered to sell, convey, lease, sublease, encumber, rent, or otherwise dispose of any interest they may have in and to any Units to any person or entity approved by them.

XII. Administration

A. The Association shall be incorporated under the name as a corporation under the laws of the State of .

B. The Bylaws of the Association shall be in the form attached as Exhibit A until amended.

C. The duties and powers of the Association shall be those set forth in this Declaration, the Articles of Incorporation and the Bylaws.

D. Notices or demands shall be given in the manner provided for notices to members of the Association by the Bylaws.

E. All funds and titles of all properties acquired by the Association shall be held for the benefit of the Unit Owners.

F. All income received by the Association from the rental or licensing of any part of the Common Elements shall be used to reduce prospective Common Expenses.

G. The Association may delegate powers by entering into a management contract.

XIII. Insurance

A. Authority to Purchase — Except for Builder Risk and other required insurance furnished by Developer during construction, all insurance policies upon the Property shall be purchased by the Association.

B. Unit Owners — Each Unit Owner may obtain insurance at his or her own expense for personal property and personal liability.

C. Coverage — Casualty and liability insurance provisions apply as stated in the Declaration.

E. All proceeds payable as a result of casualty losses shall be paid to the , as Trustee.

XIV. Fourteen Reconstruction or Repair of Casualty Damage

A. If any part of the Common Elements shall be damaged by casualty, the determination of whether or not to reconstruct or repair the same shall be made as follows:

1. Rebuilding shall be carried out using common funds provided such casualty loss does not exceed % of the value of the condominium prior to the casualty.

2. If the casualty loss exceeds %, and % of the unit owners do not agree within days to proceed with repair or restoration, the condominium shall be subject to partition.

3. If % of the unit owners agree to proceed, the excess cost over available funds shall be a common expense.

4. Any such reconstruction or repair shall be substantially in accordance with the Plans and Specifications.

XV. Taxes and Special Assessments

A. The assessment of each of the Units for taxes and special assessments by governmental bodies may be done in accordance with the Unit's respective Share of the Assessment of the Property.

B. During the period of time the taxes and special assessments upon the Property or any portion of it are not assessed to Units, the taxes and assessments not separately assessed to Units shall be included in the budget of the Association and shall be paid by the Association.

C. Return for Taxation — No Unit Owner shall make a return for taxation inconsistent with this Declaration.

XVI. Assessments

A. Share of Common Expense

Each Unit Owner shall be liable for his or her share of the Common Expenses, and any Common Surplus shall be owned by each Unit Owner in a like share, according to the following percentages:

Share of Expenses / Unit Number / Percent

%

%

%

B. Assessments other than Common Expenses — As provided in the Condominium Documents.

C. Assessments for Common Expenses — Annual assessments shall be due and payable in three equal consecutive monthly payments.

D. Other Assessments — Time of payment shall be determined by the Board.

E. Assessments for Emergencies — Only by the Board of Directors.

F. Assessments for Liens — Paid by the Association as a Common Expense.

G. Assessment Roll — The assessments against all Unit Owners shall be set forth upon a roll of the Units available in the Office of the Association.

H. Liability for Assessments — The Owner of a Unit and grantees shall be jointly and severally liable for all unpaid assessments.

I. Lien for Assessments — The unpaid portion of an assessment shall be secured by a lien upon the Unit and all appurtenances to the Unit.

J. Application

1. Interest; Application of Payments — Assessments paid on or before days after due date shall not bear interest, but all sums not paid on or before days shall bear interest at % per year.

2. Suit — The Association may enforce collection and recover costs, including reasonable attorney's fees.

XVII. Compliance and Default

A. Legal Proceeding — Failure to comply with the Condominium Documents may result in legal action, injunctive relief, foreclosure of lien, or any combination thereof.

B. Unit Owners shall be liable for the expense of any maintenance, repair, or replacement rendered necessary by their act, neglect or carelessness.

C. Costs and Attorneys' Fees — The prevailing party may recover the costs of the proceeding and reasonable attorneys' fees.

D. No Waiver of Rights — Failure to enforce any right shall not constitute a waiver of the right to enforce it in the future.

E. All rights, remedies, and privileges shall be cumulative.

XVIII. Amendment

A. Master Deed Declaration of Condominium.

1. Notice — Notice of the subject matter of the proposed amendment shall be included in the Notice of any meeting.

2. Resolution — Proposed amendments must be approved by not less than % of the Directors and % of the Unit Owners and their mortgagees.

3. Recording — Copies of each amendment shall be recorded in the .

B. Articles of Incorporation and Bylaws shall be amended as provided in those documents.

XIX. Termination

A. % of the Unit Owners may remove all or a portion of the condominium from the provisions of State Statutes by an instrument recorded in the .

B. Destruction — If it is determined that the property shall not be reconstructed after casualty, the condominium shall be subject to partition and terminated.

C. Shares after Termination — The condominium shall be owned in common by the unit owners, and funds held by the Association shall be held jointly for the Unit Owners and their first mortgagees in proportion to assessments paid.

D. Removal of the condominium from the provisions of State Statutes shall not bar subsequent resubmission.

XX. Covenants Running with the Land

All provisions of the Condominium Documents shall be construed to be covenants running with the land.

XXI. Liens

A. Protection of Property — All liens against a Unit other than permitted mortgages, taxes, or special assessments will be satisfied or otherwise removed within days from the date the lien attaches.

B. Notice of Lien — A Unit Owner shall give notice to the Association within days after the attaching of the lien.

C. Notice of Suit — Unit Owners shall give notice within days after receiving notice of the suit or proceeding.

D. Failure to comply with this Article concerning liens will not affect the validity of any judicial sale.

E. The Association shall maintain a register of all permitted mortgages.

XXII. Judicial Sales and other Transfers of Title

A. No judicial sale of a Unit shall be valid unless the sale is a result of a public sale with open bidding or unless the sale is to a purchaser approved by the Board of Directors of the Association.

B. Unauthorized Transactions — Any sale, mortgage, or lease not authorized pursuant to the terms of this Declaration shall be void unless subsequently approved.

C. Foreclosure and redemption rights apply as stated in this Declaration.

XXIII. Provisions Pertaining to Developers

A. For so long as Developer owns more than Units, a majority of the Board of Directors shall be selected by the Developer.

B. The Developer disclaims any intent to have made any warranty or representation except as specifically set forth in the Declaration.

C. The Developer reserves the power to contract with persons, firms, or corporations for management of the Condominium for a period of two years from the date of recording.

XXIV. Severability of Condominium Document Provisions

If any term, covenant, provision, phrase, or other element of the Condominium Documents is held to be invalid or unenforceable, such holding shall not affect the remainder.

XXV. Unit Deeds

Any transfer of a Unit shall include all appurtenances to it whether or not specifically described.

XXVI. Captions

Captions used in the Condominium Documents are inserted solely as a matter of convenience.

XXVII. Gender, Singular, Plural

Whenever the context so permits, the use of the plural shall include the singular, and any gender shall be deemed to include all genders.

XXVIII. Severability

If any provision is held to be in conflict with the laws of the State of , then the laws shall be deemed controlling and the validity of the remainder shall not be affected.

WITNESS our signatures as of the day and date first above stated.

(Attach exhibits)