02-14-2005 Council Packet - Laserfiche WebLink

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3.three years fifom tfie first conv^ance of a Unit to an Owner other than Declarant F. the right to add Additional Real Estate as set out in Section 19.01 below. 19.00 A1 AL REAL ESTATE 19.01 Declarant ’s Riyhts to Add Additional Real Estate . Declarant hereby expressly reserves the right to add the Additional Real Estate to the Real Estate, by unilateral action under Section S15B.2- 111 of MClOA, subject to the following conditions: A. B. C. D. E. The right of Declarant to add the Additional Real Estate to the CIC shall terminate ten (10) years after the date of recording of this Declaration or upon earlier express written withdrawal of such right to Declarant or a successor Declarant, unless extended by a vote of the owners pursuant to Section S1SB.2-106(2) of MClOA. There are no odier limitations on Declarant's rights hereunder, except as may be imposed by law. The Additional Real Estate is described in Section 1.10. The Additional Real Estate may be added to the Real Estate in one or more parcels and may be designated as any combination of units, common elements and limited common elements. There are no assurances as to the times at t^ich all or any part of the Additional Real Estate will be added to the Real Estate, the order in whidi it will be added, the number of parcels per phase nor the size of the parcels. Declarant is under no obligation to add the Additional Real Estate to the Real Estate, and the Additional Real Estate may be developed by Declarant or its successors in interest for other purposes, subject only to approvd by the appropriate governmental authorities. The maximum number of Units that may be created within the Real Estate and the Additional Real Restate together is ten (10). Any buildings erected upon the Additional Real Estate, when and if added, shall be compatible with the buildings on the other Units which are part of the Real Estate in terms of architectural style, quality of construction, priiKipal materials employed in construction and size; subject (i) to any changes required by governmental authorities or lenders and (ii) to any interior and minor exterior changes made by Declarant to meet changes in the market and the needs of users. F. All covenants and restrictions contained in this Declaration affecting the use and occupancy ofUnits shall an>ly to all Units created on the Additional Real Estate. All such Units will be restricted to non-residential use. G. The common expense liability and voting power in the CIC shall be reallocated