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HomeMy WebLinkAboutRC 20120412001054 AFTER RECORDING MAIL TO: Bruce Knowlton Toll WA LP 20120412001054 9720 NE 120`h Place,Suite 100 RENTON CITY CL COV 94.00 Kirkland,WA 98034 PAGE-001 OF 033 04/12/2012 14:36 KING COUNTY, UA DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS FOR OLYMPUS VILLA,A SUBDIVISION Grantor/Declarant: CamWest Olympus Villa LLC,a Washington limited liability company Grantee: Olympus Villa Homeowners Association Abbr.Legal Descrip. Lots 1-11 &Tract B of the Plat of Olympus Villa recorded in Vol, f Plats,PagesQz3-oil-King County recording#,2012,OLI MOO 10.3. [Full Legal Description on Exhibit A] Tax Parcel No.: 1123059065 Docs Modified: N/A DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 1 l /, DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS FOR OLYMPUS VILLA,A SUBDIVISION CamWest Olympus Villa LLC,a Washington limited liability company,hereinafter referred to as"Declarant",makes this Declaration as of the& day of ,2012. SUBMISSION OF THE PROPERTY TO THIS DECLARATION A. Declarant, CamWest Olympus Villa LLC, is the owner of the real property and improvements located within the City of Renton, County of King, State of Washington, commonly known as"Olympus Villa"or the"Property,"and more particularly described in Exhibit A attached hereto. B. Declarant has created an owners association at Olympus Villa to provide for the maintenance, preservation and architectural control of the Lots and the Tracts within the Property(as defined herein). C. These covenants and servitudes are intended to create a comprehensive system of land-use, development and architectural controls within the Property to enhance the value and attractiveness of the Property,and to protect and benefit the interests of the Owners of the Property. D. The Declarant hereby submits the Property to this Declaration of Covenants, Conditions, Restrictions and Reservations ("Declaration" or"CC&Rs"). The Property shall be held, sold, conveyed, encumbered, leased, rented, occupied and improved subject to these CC&Rs, which shall be binding on all parties having any right,title or interest in the Property or any part thereof,and shall inure to the benefit of each owner thereof. This Declaration shall run with the land and bind Declarant, its successors and assigns, all subsequent owners of the Property or any part thereof, together with their grantees, successors, heirs, executors, administrators, devisees or assigns. Any conveyance,transfer,sale,assignment, lease or sublease of any real property interest in any portion of the Property,shall and hereby is deemed to incorporate by reference all provisions of this Declaration. Article 1. DEFINITIONS Section 1.1 Definitions. For the purposes of this Declaration and any amendments hereto, the following definitions shall apply. "Architectural Control Committee" or "ACC" shall mean the Board, as defined below or a committee by that name designated by the Board. "Articles"shall mean the articles of incorporation of the Association. "Assessments" shall mean all sums chargeable by the Association against a Lot as set out herein, including, without limitation: (a)General and Special Assessments for maintenance, repair or replacement of the Common Area, the Association Maintained Areas and any other property of the Association as set out in Sections 7.5-7.7;(b)Specific Assessments against a Lot as set out in Section 7.8;(c)fines imposed by the Association;(d)interest and late charges on any delinquent account;and DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 2 (e)costs of collection, including reasonable attorneys' fees, incurred by the Association in connection with the collection of a delinquent Owner's account. "Association" or ("HOA") shall mean the Olympus Villa Homeowners Association, a Washington non-profit corporation,as described more fully in Article 3 and its successors and assigns. "Association Maintained Area"shall mean those facilities, improvements and portions of the Plat that the Association is obligated to maintain. The Association Maintained Area includes the property and improvements described in Section 2.4 of this Declaration. "Board"shall mean and refer to the Board of Directors of the Association, as provided for in Article 3, and any board, group or entity of the successor or assign to the Association serving in a comparable capacity to the Board of Directors. "Bylaws" shall mean the bylaws of the Association as they may from time to time be amended. "Class A Members"shall mean all Owners other than the Declarant when the Declarant is the Class B Member. If the Declarant is no longer the Class B Member, then it shall mean all Owners, including Declarant. If there is no Class B member,it shall mean all Owners. "Class B Member"shall mean the Declarant. "Class B Control Period"and"Control Period"shall mean the period of time during which the Class B Member is entitled to appoint the members of the Board. The Class B Control Period shall terminate on the first to occur of the following: (a) When 75%of the Lots have certificates of occupancy issued for the Home thereon and have been conveyed to Class"A"Members other than builders; (b) January 1,2019; (c) When,in its discretion,the Class B Member so determines. "City"shall mean the City of Renton,in the County of King,State of Washington. "Common Area" shall mean all real property and improvements thereon from time to time owned by the Association or in which the Association has a real property interest for the common use and enjoyment of the Members. The Common Area may (but need not) include detention facilities, open space,tot lots,recreational facilities,parks,lakes,streams,wetlands,private streets not dedicated to the City, County or the State of Washington,trails and fencing on Common Areas. The Common Area includes the property and improvements described in Section 2.1 of this Declaration. "Declarant" shall mean CamWest Olympus Villa LLC, a Washington limited liability company. No successor or assignee of the Declarant shall have any rights or obligations of the Declarant hereunder unless such rights and obligations are specifically assigned to such party by written instrument designating the party as Declarant hereunder or which pass by operation of law. "Declaration" shall mean this Declaration of Covenants, Conditions, Restrictions and Reservations,as it may be amended from time to time or supplemented in the manner provided herein. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 3 • "Entry Monument(s)" shall mean any entry monument(s), signs, landscaping, lighting and other improvements that are or may be installed by the Declarant or Association to mark the entry to the Plat and includes any irrigation for the same. "Home" shall mean a structure located on a Lot which is designed and intended for use and occupancy as a residence or which is intended for use in connection with such residence. "Lot"shall mean and refer to any of the I-1 i numbered Lots shown on the Plat. Ownership of a Lot shall include ownership of the Home and improvements now or hereafter constructed on the Lot. "Member(s)"shall mean the Class A Members and the Class B Member. "Mortgage" shall mean a recorded mortgage or deed of trust that creates a lien against a Lot and shall also mean a real estate contract for the sale of a Lot. "Mortgagee" shall mean the beneficial owner or the designee of the beneficial owner, of an encumbrance on a Lot created by a Mortgage and shall also mean the vendor, or the designee of vendor,of a real estate contract for the sale of a Lot. For the purpose of determining the percentage of first Mortgagees approving a proposed decision or course of action, a Mortgagee shall be deemed a separate Mortgagee for each Lot on which it holds a Mortgage which constitutes a first lien on said Lot. When exercising any voting rights a Mortgagee has hereunder, it shall have the same voting rights as the owners of the Lot subject to such Mortgage. "Notice and Opportunity to be Heard"shall mean the procedure wherein the Board shall give written notice of the proposed action to all Owners, tenants or occupants of Homes whose interest would be significantly affected by the proposed action. The notice shall include a general statement of the proposed action and the date,time and place of the hearing,which shall be not less than five days from the date notice is delivered by the Board. At the hearing,the affected person shall have the right, personally or by a representative, to give testimony orally, in writing or both (as specified in the notice), subject to reasonable rules of procedure established by the Board to assure a prompt and orderly resolution of the issues. Such evidence shall be considered in making the decision but shall not bind the Board. The affected person shall be notified of the decision in the same manner in which notice of the meeting was given. "Owner"shall mean the owner of record,whether one or more persons or entities,of any Lot which is part of the Property and,except as may be otherwise expressly provided herein,shall, in the case of a Lot which has been sold pursuant to a real estate contract, include any person of record holding a vendee's interest under such real estate contract,to the exclusion of the vendor thereunder. Owner does not mean any party holding an interest merely as security for the performance of an obligation. "Person" shall include natural persons, partnerships, corporations, associations and personal representatives. "Plat"shall mean the plat for Olympus Villa which depicts the layout of the Lots and Tracts on the Property. See Exhibit A for recording information for the Plat. DECLARATION OF COVENANTS,CONDITIONS.RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 4 "Private Access and Utility Easement"shall mean that Easement over Lot 3 for the benefit of Lot 2 which is more fully described in Exhibits B-1 and B-2 attached hereto. "Private Drainage Covenant and Easement"shall mean that covenant and easement set out on sheet 2 of the Plat granting the City of Renton the right of access to all Lots and Tracts containing private stormwater facilities to ensure that they are being properly operated and maintained and requiring approval by the City of Renton if any Owner or the Association wishes in any way to alter those facilities. The City of Renton also has the right to repair any deficiencies in those facilities at the Owner's Cost as set out on sheet 2 of the Plat in the"Easement Provisions/Notes". "Property"shall mean the real property described on Exhibit A attached hereto. "Public Stormwater Facilities" shall mean the detention pond and water quality facilities located within Tract A owned by the City of Renton. "Public Utility Easement" shall mean the easement across the exterior 10 feet and parallel with the street frontage of all Lots and Tracts for the location and maintenance of public utilities, including but not limited to, power, telecommunications, cable television, water, sanitary sewer, natural gas,storm drainage, and accessory equipment. The Public Utility Easements are described in Note l of Easement Provisions on Sheet 2 of the Plat and depicted on Sheets 4 and 5 of the Plat. The Public Utility Easements are further described on Exhibits B-1 and B-2 attached hereto. "Sensitive Area Tract"shall mean Tract B on the Plat. Tract B is subject to the"Restrictions for Critical Area Tracts and Critical Areas and Buffers"as set out on sheet 2 of the Plat. "Street Trees"shall mean the street trees located within the public right of way in the planter strip. "Street Lighting"shall mean the lighting for streets within the Property. "Structure" shall mean any thing or object the placement of which upon any Lot may affect the appearance of such Lot,or the alteration of any Lot in a manner that may impact the flow of water, including (i) any building, garage, porch, shed, greenhouse, patio, deck, swimming pool, curbing, paving, tree house, fence, wall, rockery, hedge, sign, statue, basketball goal, pole, antenna, dish or other receiving device,or the like,and(ii)any excavation,fill,ditch,dam,or other thing or device that affects or alters the natural flow of surface waters from, upon or across any Lot,or which affects or alters the flow of any waters in any natural or artificial stream or drainage channel from, upon or across any Lot. "Tract" shall mean and refer to any of Tracts A through C shown on the Plat. Tract A is owned by the City of Renton and Tract C is owned by the Declarant. Tracts A and C are not part of the Association. However,the Association has the obligation to maintain landscaping within Tract A as more fully set out in Section 2.4 and Exhibit B-l. "Yard Landscaping"shall mean landscaping installed by Declarant or installed by Owner on a Lot, including trees, grass, shrubs and other plantings, and includes the Street Trees located on the planter strip in front of each Lot. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 5 • Article 2. COMMON AREA/ASSOCIATION MAINTENANCE/EASEMENTS Section 2.1 Description of Common Area. The Common Area, as shown on the Plat, is comprised of the following: Tract B-Open Space/Sensitive Area (Tract A is owned by the City of Renton and Tract C is owned by the Declarant. These Tracts are not part of the Association.) Section 2.2 Dedication of Common Area. The Declarant,by recording the Plat,dedicated and conveyed the Common Area (without warranty) to the Association. In the event that the Association is ever dissolved,then each Lot in the Plat shall include an equal and undivided interest in the Tract B previously owned by the Association and have the attendant obligation to maintain Tract B. Section 2.3 Use of Common Area. Each Owner shall have the right to use the Common Area in common with all other Owners, subject to the terms and conditions of this Declaration, the Plat, including easement rights of Owners, the Bylaws, any rules and regulations adopted by the Association,and the following: 2.3.1 The Association may regulate, restrict or bar use of portions of the Common Area where ordinary use could be dangerous, unreasonably increase Association costs, be detrimental to the environment, be inconsistent with development conditions, government regulations or easement rights affecting the Property, or be inconsistent with its designation as open space or a sensitive area tract on the Plat. Tract B is a Sensitive Area Tract subject to the critical area restrictions on the face of the Plat which include the restriction that all trees and other vegetation within Tract B must be left undisturbed and may not be cut,pruned,covered by fill,removed or damaged without the express written approval of the City of Renton 2.3.2 The Association shall have the right to dedicate or transfer all or any portion of the Common Area, including easements thereon,to any public agency, authority, or utility for such purposes and subject to such conditions as may be agreed to by the Members. Except as dedicated or transferred herein, no dedication or transfer shall be effective unless two-thirds of each class of Members vote or consent in writing to such dedication or transfer. The instrument dedicating or transferring all or any portion of the Common Area shall be duly executed by the president and secretary or other officer of the Association who shall certify that the requisite vote or consent has been obtained. Section 2.4 Association Maintained Area. The Association Maintained Area is comprised of the following areas,facilities and improvements: The Common Area (Tract B), including any fences located thereon and private Association utilities,but excluding any public owned utilities and private utilities required to be maintained by Owners; c All Association utilities or facilities located on Lots and Tracts; DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 6 o Landscaping and Street Trees in public right of way at Plat entry; 0 Landscaping located in Tract A; P g O Street Trees in front of Tracts A and Tract B;and ▪ Any Entry Monuments and Association Signage. The Association Maintained Area also includes any other areas, facilities, improvements or property that may be acquired by the Association or for which the Association has, or assumes, responsibility pursuant to the Declaration or any covenants,contracts or agreements. Section 2.5 Association Maintenance Responsibilities. The Association shall have full responsibility for the maintenance, repair, replacement and improvement of the Association Maintained Area and any improvements and Association owned utility facilities therein. All such areas and facilities shall be reasonably maintained for their intended use, subject to applicable governmental restrictions. The costs of maintaining the Association Maintained Area shall be assessed against the Lots as set forth in Sections 7.4—7.8 and Exhibit B-1 attached hereto. Section 2.6 Delegation of Use. Any Owner may delegate, in accordance with such rules and regulations as the Association shall promulgate, his or her right of use and enjoyment of the Common Area to family members, guests and tenants of such Owner. Each Owner shall be responsible for informing such Owner's family members,guests,tenants and service personnel of the contents of this Declaration as well as any rules and regulations that may be adopted by the Association as they may relate to the use and enjoyment of the Common Area. Each Owner shall be personally liable for any damage to any Common Area or any other area maintained by the Association or to any other property of the Association,whether real or personal,caused by the Owner or the Owner's family member,guest, tenant,agent, workman,contractor or other licensee or invitee. The Association may have a lien upon the Owner's Lot for the amount of such damages as determined by the Board after Notice and Opportunity to be Heard. Section 2.7 Public Utility Easement and Public Water Easement.The Plat creates a Public Utility Easement on the Lots and Tracts for utility installation and maintenance which may include some or all of the following: power, telecommunications, cable television, water, sanitary sewer, natural gas,storm drainage,and accessory equipment,together with the right to enter upon the Lots at all times for said purposes. Within the easement areas, no structure, planting,or other material shall be placed or permitted to remain that may damage or interfere with the installation, maintenance and use of utilities. Each Owner must maintain any the landscaping within the easement area within their Lot. The owners of the utilities are generally responsible for maintenance of the utility facilities within the easement areas. Section 2.8 Signage Easement. Declarant hereby creates, for the benefit of the Association, a perpetual easement on, under, over and across the exterior ten feet of all Lots parallel with and abutting all public rights of way and all private streets, alleys and drives in which to install and maintain street signs,directional signs,no parking signs,other types of signs and address columns or monuments. Section 2.9 Association Functions Easement. There is hereby reserved to Declarant and the Association or their duly authorized agents and representatives such easements as are necessary to DECLARATION OF COVENANTS,CONDmONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 7 • perform the duties and obligations of the Association as are set forth in the Declaration, or in the Bylaws,and rules and regulations adopted by the Association. Section 2.10 Easement for Entry by Security Patrol. If the Board contracts for security patrol service,said service,and its employees,shall in have the right to enter onto any of the Lots and the Common Area in order to carry out their duties under such security patrol agreement; provided, however,that,said patrol service can enter a Lot only if it is either(i)doing so with reasonable cause; or(ii)acting with the consent of the Owner or tenant of such Lot. Article 3. HOMEOWNERS ASSOCIATION Section 3.1 Establishment. The Olympus Villa Homeowners Association (the "Association") was formed on September 20, 2011 by filing of an application with the Secretary of State of the State of Washington. Section 3.2 Form of Association; Articles of Incorporation. The Association is a nonprofit corporation as set out in the Articles of Incorporation, duly formed and operated under the laws of the State of Washington. The Articles of Incorporation may be amended as set out in Article 12 of this Declaration. In the event of any conflict between this Declaration and the Articles of Incorporation,the provisions of this Declaration shall prevail. Section 3.3 Bylaws. The Board of Directors of the Association has or will adopt Bylaws to supplement this Declaration and to provide for the administration of the Association and the Property and for other purposes not inconsistent with this Declaration. The Bylaws may be amended as set out in Article 12 of this Declaration. In the event of any conflict between this Declaration and any Bylaws,the provisions of this Declaration shall prevail. Section 3.4 Board of Directors. The Association shall be managed by a Board of Directors. The Directors shall be elected or appointed as set forth in the Articles of Incorporation and Bylaws of the Association. A majority of the Directors elected by the Class A Members must be members of the Association. The Directors appointed by the Class B Member need not be members of the Association. Section 3.5 Membership and Voting Rights. The Association shall have two classes of voting membership: 3.5.1 All Owners, except the Declarant when the Declarant is the Class B Member, will be Class A Members. Each Class A Member will be entitled to one vote for each Lot owned, whether improved or not. When more than one Person holds an interest in any Lot, all such Persons shall be members. The vote for such Lot shall be exercised as the joint owners may decide among themselves,but in no event shall more than one vote be cast with respect to any Lot. 3.5.2 The Declarant will initially be the Class B Member: The Class B Member will be entitled to three votes for each Lot it owns. The Class B class of membership shall cease upon termination of the Class B Control Period. At that time, the Class B Membership will convert to Class A membership for each Lot still owned by Declarant. DECLARATION OF COVENANTS.CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 8 Section 3.6 Transfer of Membership. The membership in the Association of each Owner (including Declarant)shall be appurtenant to the Lot giving rise to such membership,and shall not be transferred in any way except upon the transfer of title to the Lot and then only to the transferee of title to the Lot. Any attempt to make a prohibited transfer shall be void. Any transfer of title to a Lot shall operate automatically to transfer the membership in the Association to the new Owner. Section 3.7 Books and Records. The Board shall cause to be kept complete,detailed,and accurate books and records of the receipts and expenditures of the Association,in a form that complies with generally accepted accounting principles. Section 3.8 Inspection of Association Documents, Books and Records. The Association shall make available to Owners, Mortgagees,prospective purchasers and their prospective mortgagees, and the agents or attorneys of any of them,current copies of this Declaration,the Articles,the Bylaws, and other rules,books,records,and financial statements of the Association,and the most recent annual audited financial statement, if one is prepared. "Available" shall mean available for inspection upon request,during normal business hours or under other reasonable circumstances. The Association may require the requesting party to pay a reasonable charge to pay the cost of making the copies. Section 3.9 Financial Statements. At least annually, the Association shall prepare, or cause to be prepared at the expense of the Association, a financial statement of the Association ("Financial Statement"). Section 3.10 Audit of Financial Statements.The Board or a majority of the Owners may at any time require an annual audit prepared by an independent certified public accountant which shall be paid for by the Association. If the annual Assessments are fifty thousand dollars($50,000)or more, the Financial Statements shall be audited at least annually by an independent certified public accountant unless the audit is waived by sixty-seven percent(67%)of the votes cast by the Members, in person or by proxy,at a meeting of the Association at which a quorum,as defined by the Bylaws of the Association, is present. For each year the Members desire to waive the audit, the Members must vote to waive the audit in accordance with this section. Article 4. MANAGEMENT OF THE ASSOCIATION Section 4.1 Administration of the Property. The administration of the Property shall be in accordance with the provisions of this Declaration and the Bylaws of the Association which are made a part hereof. Administrative power and authority shall be vested in the Board. Section 4.2 Authority and Duties of the Board. On behalf of and acting for the Association, the Board, for the benefit of the Property and the Members, shall have all powers and authority permitted to the Board under this Declaration including,but not limited to,the following: 4.2.1 Levy, collect, and enforce the collection of, Assessments, as more particularly set forth in Article 7 hereof,to defray expenses attributable to carrying out the duties and functions of the Association hereunder. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 9 4.2.2 Require any officer or employee of the Association handling or responsible for Association funds to furnish adequate fidelity insurance,the premiums for which shall be paid by the Association. 4.2.3 Enter into agreements with one or more qualified persons to provide for the maintenance and repair of the Common Area and the Association Maintained Areas,the collection of Assessments,the sending of all required notices to Owners,the operation of Association meetings and other regular activities of the Association. 4.2.4 Contract and pay for any materials, supplies, labor or services which the Board should determine are necessary or proper for carrying out its powers and duties under this Declaration, including legal, accounting, management, security patrol or other services; however, if any materials, supplies, labor or services are provided for particular Lots or their Owners, the cost thereof shall be specially charged to the Owners of such Lots. The Board may pay the Declarant a reasonable fee for any services it performs on behalf of the Association. 4.2.5 Pay for power for all streetlights located on the Property and water and power for irrigation of the Common Area and Association Maintained Areas. 4.2.6 All checks, drafts, or other orders for the payment of money, notes, or other evidences of indebtedness in the name of the Association shall be signed by such officer or officers,agent or agents of the Association and in such manner as is from time to time determined by the Board. Section 4.3 Tree Trimming, Maintenance and Removal. The Board may require, at the Owner's expense, the trimming, topping or, if deemed necessary by the Board, removal of any tree, hedge or shrub in the Yard Landscaping on the Owner's Lot that the Board determines (i) is interfering with the view or access to sunlight of any Common Area,(ii)is interfering with pedestrian travel on sidewalks or walking paths in the community, or (iii) is interfering with safe automobile travel in the community, provided that that no tree may be removed unless any necessary permits are obtained from the City of Renton. Each Lot Owner shall maintain and pay for the costs of maintenance of the Street Trees in planter strips abutting his/her Lot. The Association shall maintain and pay for the costs of maintenance of any Street Trees located in planter strips in front of Tracts A and B and at the entry,and for landscaping located in Tract A. If an Owner wishes to remove any tree that is part of the Yard Landscaping that is eight inches or greater in diameter at breast height, the ACC must approve the removal of the trees. The ACC may require the report of an arborist attesting that a tree is unhealthy or that it presents a hazard to person or property. All requests must be submitted for approval to the ACC in duplicate at least 30 days prior to the proposed removal date. In the event the ACC fails to approve or disapprove such removal within 30 days after the request has been submitted to it, the ACC approval will be deemed to have given. In the event of an emergency notice should be given to the ACC as soon as practicable and the ACC shall provide a prompt response. In addition, no Street Tree or other tree on any Lot may be removed without complying with City of Renton tree removal permit requirements. 4.3.1 Tract B is subject to the Critical Area restrictions on the face of the Plat. All trees and other vegetation within Tract B must be left undisturbed. Trees and DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 10 other vegetation may not be cut, pruned, covered by fill, removed or damaged without the express written approval of the City of Renton. Section 4.4 Adoption of Rules and Regulations. When and to the extent it deems advisable,the Board may adopt reasonable rules and regulations governing the maintenance and use of the Common Area, the Association Maintained Area, and the Property and other matters of mutual concern to the Members, which rules and regulations are not inconsistent with this Declaration and the Bylaws and which treat all Members fairly and in a non-discriminatory manner. Section 4.5 Additional Powers of the Association. In addition to the duties and powers of the Association,as specified herein and elsewhere in this Declaration, but subject to the provisions of this Declaration,the Association,acting through its Board, shall have the power to do all other things which may be deemed reasonably necessary to carry out its duties and the purpose of this Declaration. Article 5. ARCHITECTURAL CONTROL Section 5.1 Construction and Exterior Alterations or Repairs. 5.1.1 Any Structures to be constructed, erected or placed within the Property, and any alteration or change to the exterior appearance of any Structure on the Property, must be approved by the Board acting as an Architectural Control Committee ("ACC") or an ACC composed of three or more persons appointed by the Board. Nevertheless,Owners arenot required to obtain ACC approval for alterations solely to the interior of any Structure, flower boxes or planters, ordinary landscaping,seasonal plantings or adornments,and normal maintenance,unless re-roofing or residing with different materials or repainting with a different color or otherwise altering the material, colors or design of the original Home or any ACC approved changes, provided that ACC approval is not required if repainting a Home with an original color scheme used on any Home elsewhere in the Plat provided that no Home may be painted the same color scheme as any adjacent Home. Until completed Homes have been constructed on all of the Lots, Declarant shall act as the ACC. Complete plans and specifications of all such proposed Structures or exterior alterations and repairs requiring approval, together with detailed plans showing the proposed location of the same on the particular building site and other data requested by the ACC must be submitted to the ACC before construction, alteration or repair is begun. Construction, alteration or repair shall not be started until written approval thereof is given by the ACC. 5.1.2 The ACC will review submittals as to quality of design, planned materials and conformity and harmony with proposed or existing Structures on the Lot; the effect the proposed Structure will have on the view or outlook of surrounding Lots; compliance with building setbacks and Plat provisions; the location, elevation and finish grade of the Structure on the Lot; and compliance with any architectural guidelines adopted by the ACC. 5.1.3 All plans and specifications submitted for approval by the ACC must be submitted in duplicate at least 30 days prior to the proposed construction or exterior alteration or repair starting date. In the event the ACC fails to approve or disapprove such design and location within 30 days after said plans and specifications have been submitted to it,the ACC will be deemed to have given its approval,subject to the provisions of Subsection 5.1.4. DECLARATION OF COVENANTS.CONDITIONS.RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE I • 5.1.4 The maximum height of any building shall be established by the ACC as part of plan approval and shall be given in writing together with the approval. If the ACC has failed to disapprove such design and location within the 30 day limit,and such design and location is thereby deemed approved, the maximum height of any building shall be no greater than is allowed under applicable zoning,land use and building codes. 5.1.5 The ACC may require that all plans or specifications for Homes or significant Structures be prepared by an architect or a competent house designer approved by the ACC. The ACC may require that all Homes and significant Structures be erected or constructed, and all major exterior alterations or repairs made, by a contractor, house builder or other person or entity approved by the ACC in its reasonable discretion. - 5.1.6 The ACC shall have the right to refuse to approve any design,plan or color for Structures or other improvements, including swimming pools and other recreational Structures, and exterior alterations of Structures, which in the ACC's opinion are not suitable or compatible with other Homes in the Plat,and such refusal may be based entirely on aesthetic or other factors. With respect to recreational Structures, the ACC may consider the visual impact of the proposed Structure or equipment and the noise impact of the related activities upon all nearby Lots and the Common Areas. Any enclosure or cover used in connection with such a recreational Structure or equipment whether temporary, collapsible, or seasonal, shall be treated as a permanent Structure for purposes of these covenants,and shall be subject to all the conditions,restrictions,and requirements as set forth herein for all buildings and structures. 5.1.7 Declarant (including any successor in interest to Declarant) shall not be subject to the restrictions of this Section 5.1 as to any Lot owned by Declarant,and as to Tract C (which is not part of the Association and not subject to this Declaration). 5.1.8 By majority vote, the ACC, may adopt or amend architectural guidelines consistent with this Declaration for making its determinations hereunder, provided that the Board as a whole shall approve such guidelines and amendments thereto. 5.1.9 • No Structure shall be erected, altered, placed or permitted to remain on any Lot unless the Structure complies with the Plat, this Declaration and with applicable building codes. The ACC may require that the Owner furnish the ACC with evidence that all necessary permits have been obtained from the City for any work on a Lot for which ACC approval is required under this Section prior to commencement of the work. Section 5.2 Adoption of Rules and Regulations. When and to the extent it deems advisable,the Board may adopt reasonable rules and regulations governing the maintenance and use of the Common Area, the Association Maintained Area, and the Property and other matters of mutual concern to the Members,which rules and regulations are not inconsistent with this Declaration and the Bylaws and which treat all Members fairly and in a non-discriminatory manner. Section 5.3 Declarant Facilities. Notwithstanding any provision in this Declaration to the contrary,Declarant and its agents,employees and contractors shall be permitted to maintain during the period of sale of Lots or Homes upon such portion of the Property(other than Lots sold by Declarant) as Declarant may choose, such facilities as in the sole opinion of the Declarant may be reasonably DECLARATION OF COVENANTS.CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 12 required,convenient or incidental to the construction,sale or rental of Lots and Homes, including but not limited to a business office, storage area, signs, banners, model units, sales office, construction office,parking areas and the like for all prospective tenants or purchasers of Declarant. Article 6. MAINTENANCE OBLIGATIONS OF OWNERS; USE RESTRICTIONS AND EASEMENTS Section 6.1 Home and Yard Maintenance. Except for such maintenance and repairs which are to be performed by the Association, each Owner, at said Owner's cost and expense, shall promptly and continuously maintain, repair, replace and restore the Home, Structures, the Yard Landscaping(including abutting Street Trees located in the planter strip)and other improvements on the Owner's Lot in a good, neat,clean, attractive, safe and sanitary condition and in full compliance with all applicable laws, the provisions of this Declaration, and any rules and regulations of the Association. Lawn, trees, hedges, shrubs, and flowers shall be maintained in an attractive, neat and trimmed condition. Lot Owners shall be responsible for sweeping and snow removal of the sidewalk located on the Owner's Lot. Each Owner is responsible for irrigation for the Yard Landscaping of such Owner's Lot and the abutting Street Trees. If any Owner fails to maintain, repair, replace or restore the Owner's Home, Structures, landscaping or other improvements as required herein, the Association may, after Notice and Opportunity to be Heard, at the Owner's cost and expense, maintain, repair, replace or restore such items or areas and the Owner shall pay or reimburse the Association on demand for all such costs and expenses. Section 6.2 Restrictions on Storage; Use of Garage. No Owner may store or allow any occupant or tenant to store any trailers, boats, motor homes, recreational vehicles, motorcycles, or trucks over two tons (except those used by Declarant in connection with the development of the Property or construction of the Homes) or any disabled or inoperable motor vehicle on the Property unless any such vehicle is completely enclosed and hidden from view within a garage or within such other enclosure as may be approved in advance by the ACC. Garages must be used for the primary purpose of parking vehicles. Owners may not use garages for storage or other purposes in a way that interferes with the daily use of the garage for parking vehicles, provided that this restriction shall not apply for the first 90 days after a new Owner moves into a Home. Motor homes, trailers, campers, boats and other recreational vehicles may not be kept in driveways or parking spaces except on a temporary basis for loading or unloading, subject to such rules and regulations concerning parking as may be adopted by the Board. No in-operative vehicle of any type may remain in any driveway or public road for more than 72 hours. Violations of this Section shall subject such vehicles to impound, at the expense and risk of the owner thereof. The Association may adopt rules and regulations to implement these restrictions and provide guidance to Owners. Section 6.3 Roads and Sidewalks. Parking is not allowed on the sidewalks. No vehicle parked in any driveway may extend into the street or sidewalks of Olympus Villa or otherwise inhibit vehicular or pedestrian traffic or access to any Home. Section 6.4 Residential Use and Home Occupations. The Lots and Structures located thereon may be used only for(i) residential purposes, including sleeping,eating, food preparation for on-site consumption by occupants and guests, entertaining by occupants or personal guests, and similar activities commonly conducted within a residential dwelling (without regard to whether the Owner or occupant uses the Home as a primary or secondary personal residence, on an ownership, DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 13 rental, lease or invitee basis) or such other reasonable ancillary purposes commonly associated with residential dwellings and otherwise in compliance with this Declaration and all applicable laws for residential dwellings; (ii) use as a home office or (iii) use for a home business that does not create safety, traffic or parking problems, obtrusive noise, or otherwise violate this Declaration; (iv) the common social,recreational or other reasonable uses of the Community;(v)purposes of operating the Association and managing the Property,or(vi)the business of the Declarant in developing and selling Homes or Lots. Section 6.5 No Nuisances. No noxious or offensive conditions shall be permitted upon any Lot or improvement thereon, nor shall anything be done thereon which is or may become an annoyance or nuisance to other occupants on the Property. Section 6.6 Restriction on Further Subdivision. No Lot, or any portion of a Lot in the Property, shall be divided and sold or resold, or ownership changed or transferred whereby the ownership of any portion of the Property shall be less than the area required for the use district in which the Property is located; provided, the foregoing shall not prohibit deeds of correction, deeds to resolve boundary disputes and similar corrective instruments. Section 6.7 Garbage and Trash Removal. No Lot, Common Area or other portion of the Property may be used as a dumping ground for rubbish, trash, garbage, litter,junk and other debris. All garbage, trash and yard waste must be placed in appropriate sanitary containers for regular disposal or recycling. Each Owner shall be responsible for the prompt and regular disposal of all of garbage, trash,junk and yard waste from the Owner's Lot. Containers for garbage, trash and yard waste may be placed in public view only on the designated collection day. Section 6.8 Animal Restrictions. No insects,reptiles,poultry or animals of any kind shall be raised, bred or kept in or on any Home or Lot or on any Common Area, except that domesticated dogs, cats or other usual household pets (hereinafter referred to as "pets") may be kept on the Lots subject to rules and regulations adopted by the Board. All pets when outside a Home shall be kept on an adequate leash or otherwise prevented from leaving the Lot by a person capable of controlling the pet at all times, by fencing or by a suitable invisible electronic confinement system not dangerous to humans. Pets shall not be allowed to leave excrement on any Lot or on any portion of the Property nor shall they be allowed to bark continuously or make disturbing noises. Any Owner whose pet violates these provisions or who causes any unreasonable noise or damage to persons or property shall be liable to all such harmed Owners and their families,guests,and invitees. The Board may,after Notice and Opportunity to be Heard, require the removal of any pet which the Board finds is unreasonably disturbing other Owners, and may exercise this authority for specific pets even though other pets are permitted to remain. Section 6.9 Signs. No signs shall be displayed to public view on any Lot except (i) one professionally created sign of not more than one square foot displaying the property address and/or resident's name;(ii)one sign of not more than five square feet advertising the Lot for sale or rent;(iii) signs used by Declarant or other home builders to advertise Lots or Homes for sale; (iv)political yard signs displayed prior to any primary or general election, (v)outdoor display of the flag of the United States if the flag is displayed in a manner consistent with federal flag display laws, or (vi) the permanent entry monument signs, and fire lane, road and directional signs for the Property. The Association may adopt reasonable rules and regulations concerning the placement and manner of DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 14 display of political yard signs,and of the flag of the United States consistent with federal flag display laws. The restrictions in this Section shall not apply to Declarant who may post such signs or similar displays such as banners on the property of a size it deems necessary or appropriate for the sale or lease of Homes in the Plat as long as the Declarant has a Home for sale or lease. 6.9.1 The Declarant may, in its sole discretion, construct signage at the entrance to the Plat which identifies it and includes a notation indicating that it was developed "by Toll Brothers" (or some similar reference to Declarant or any entity affiliated with Declarant), including the use of any particular logos and/or trademarks utilized by Declarant, and convey such signage to the Association along with a non-exclusive license to use the logos and/or trademarks depicted on the signage (but only for purposes of maintaining such logos/trademarks in the manner depicted on the signage at the time of conveyance and for no other purpose), such license being revocable by Declarant at any time. If the license is revoked,all references to Toll Brothers shall be removed from the signage. Section 6.10 Renting and Leasing. 6.10.1 The Owner (except for a lender in possession of a Lot and improvements located thereon following a default in a first Mortgage,a foreclosure proceeding,or any deed of trust sale or other arrangement in lieu of a foreclosure) shall be prohibited from leasing or renting less than the entire Home unless otherwise approved by the Board. All rental agreements shall be in writing,shall have a term of at least 30 days(unless otherwise approved by the Board),and shall specify that it is subject to this Declaration, the Articles and Bylaws. If a rental agreement does not state that the rental is subject to this Declaration, the Articles and Bylaws, it shall nonetheless be subject to such documents. A violation of the tenant/lessee in complying with this Declaration, the Articles or Bylaws shall be enforceable against the tenant/lessee and the Owner. 6.10.2 If any amounts due to the Association in accordance with the provisions of this Declaration are in default for over 30 days,that sum, plus interest and costs,may be collected by the Board from a lessee of a Home/Lot in default. The lessee shall pay to the Board from the rent owed to the lessor any such amounts due to the Association. The lessee shall not have the right to contest payment over to the Board, and such payment will discharge the lessee's duty of payment to the Owner for rent to the extent such rent is paid to the Association,but will not discharge the liability of the Owner(and the Home/Lot under this Declaration) for Assessments and charges or operate as an approval of the lease.The Board shall not exercise this power where a receiver has been appointed with respect to the Home/Lot or its Owner, or in derogation of any rights which a Mortgagee of such Home may have with respect to such rents. Other than as stated herein, there are no restrictions on the right of any Owner to lease or otherwise rent his Home. Section 6.11 Temporary Residence. No mobile home or modular home shall be permitted on any Lot. No trailer, outbuilding, tent, shack, garage, shed or temporary building of any kind shall be used as a residence either temporarily or permanently, except for trailers used by Declarant, builders,or contractors during the construction period. Section 6.12 Satellite Dishes and Antennae. Except as approved by the ACC, and subject to applicable federal and local laws governing their location and size, no antenna, satellite dish or similar equipment shall be affixed to the exterior of anyStructure or otherwiseplaced on anyLot. In DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 15 order to minimize the visibility of such devices from other Lots and from the public streets the ACC may regulate the location, size and color of such devices,and may require screening of any antenna, satellite dish or similar equipment to the maximum extent allowed under federal law. Section 6.13 Governmental Requirements. All Structures and other Lot improvements must comply with the requirements of the Plat and with all applicable statutes,ordinances, regulations and government requirements including, without limitation, zoning building and environmental regulations applicable to the Property. In the event of any conflict between any provision of such governmental regulations and restrictions of this Declaration, the more restrictive provisions shall apply. Section 6.14 Use and Disposal of Hazardous Substances. The Owner of.each Lot shall comply with all state, federal and local laws and regulations governing or in any way relating to the handling, storage, use, dumping, discharge or disposal of any hazardous substance or material. No Owner may dispose of or discharge any hazardous substance or materials on any Lot, Common Area, public street or other portion of the Property. Section 6.15 Completion of Projects. Any Structures or improvements, including any repairs or replacement thereof, constructed on any Lot shall be completed as to external appearance, including finish painting, within six months from the commencement of construction. This period may be extended by the ACC due to inclement weather or other unforeseen events. Section 6.16 Mailboxes. Each of the mailboxes and mailbox structures shall be placed in locations approved by the United States Postal Service. Owners may not damage or otherwise interfere with a mailbox structure. Section 6.17 Outdoor Fires. Outdoor barbecues may be used for cooking on the Lots unless prohibited by law. Reasonable and adequate precautions against fires must be taken. Excessive smoke or soot accumulation from barbeques shall not be allowed. No other outdoor fires shall be permitted on the Property,except for fires by Declarant or contractors for burning construction wastes where all necessary government permits have been obtained. Section 6.18 Screened Service Areas. Unsightly items must be hidden from view within a Home or garage or within a fenced or screened area where they will not be seen from any Lot or road. Unsightly items shall include, but shall not be limited to, garbage and trash, clothes lines, bicycles, recreational gear, outdoor maintenance equipment, firewood and ladders. The design and materials used for any fenced or screened area shall be consistent with the general appearance of the Home and must receive prior approval from the ACC. Section 6.19 Damage and Repair of Property. Upon any Substantial Damage (as defined below)to any Home or Lot,the Owner shall promptly restore and repair the Home to substantially the same size and design as the original Home. The prior written consent or vote of the Board is required to rebuild in accordance with a plan that is different from the original plan or such plan as modified by alterations that were approved by the Board. As used in this Section, Substantial Damage shall mean that in the judgment of a majority of the Board the estimated damage for the Home exceeds ten percent of the full, fair market value of the Home (exclusive of the Lot value) before the damage occurred,as determined by the then current assessment for the purpose of real estate taxation. For all DECLARATION OF COVENANTS.CONDITIONS.RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE I6 restoration and repair less than Substantial Damage,the Owner must follow the procedures outlined in Article 5. Section 6.20 Driveway Maintenance Easements. Certain Lots may have driveways that abut or are close to the boundary line of the adjacent Lot. Declarant hereby creates an easement in favor of each Lot that has any portion of a driveway within three feet of the common boundary line of an adjacent Lot. The easement shall be for the purpose of maintenance, repair or replacement of the driveway on the benefited Lot and shall exist over and across that portion of the adjacent Lot that is reasonably necessary for such maintenance, repair or replacement. The benefited Owner must repair any damage to the adjoining Lot and must restore the adjoining Lot to a condition similar to that immediately before use of the adjoining Lot. Section 6.21 Fence Easement. Declarant has or may construct certain rockeries,walls and fences between Homes on adjoining Lots within Olympus Villa, or on Lots which are adjacent to Tracts or lots in other neighborhoods. The intention of the Declarant is that each fence, rockery and wall,when constructed, shall be wholly on one Lot or Tract,and immediately adjacent to,but not on, the common property line with any adjoining Lot, Tract or lot in another neighborhood. Due to obstructions or topography, however, Declarant may not have placed each fence, wall or rockery wholly within a Lot or immediately adjacent to a common property line of a Lot with another Tractor Lot, or with a lot in an adjacent neighborhood. Therefore, Declarant reserves an easement for Declarant,one foot wide on each side of each common Lot boundary line for the placement of fences, rockeries and walls,and also reserves an easement on Lots for Declarant,the Association and each Lot Owner five feet wide on each side of fences, rockeries and walls installed by the Declarant for maintenance as long as the fence,rockery or wall exists.This easement is in addition to any easements set out on the Plat and those described in Exhibits B-1 and B-2. The Association shall have the right to maintain, repair and replace any portion of a fence, rockery or wall located on any part of an Association Maintained Area, and shall have reasonable access over any adjoining Lot for such purposes. The Owner of a Lot upon which Declarant has installed a fence, wall or rockery shall be responsible for its maintenance and if placed on a common boundary line between Lots,the Owners of Lots on each side of a fence, wall or rockery shall be jointly responsible to maintain them in good condition to the standard required by Section 6.1 of this Declaration. Those Owners shall jointly make decisions concerning any modification,alteration,repair,replacement or removal of the fence, wall or rockery subject to ACC approval. Each Owner may, however, paint or stain its side of any fence located on a common boundary without the consent of the other Owner. Neither the location of any fence,wall or rockery installed by Declarant within the easement area described herein on Lots within Olympus Villa, nor the conduct of an Owner in maintaining the land between a fence, wall or rockery on an adjoining Lot or on the common property line shall be construed as modifying the common property tine between the two Lots as set out on the Plat. In the event an Owner installs a fence, rockery or wall wholly on Owners Lot after obtaining necessary ACC and other approvals,that Owner shall be responsible for maintaining, repairing and replacing all portions thereof and shall have reasonable access over the adjoining Lot for such purposes. Section 6.22. Limitation on Grading.The grading of any Lot is not to be changed by a Lot Owner in any manner that will cause an adverse effect on adjacent Lots. Any earth disturbance, including but not limited to the moving, depositing, stockpiling or storing of soil; rock or earth materials, made by any Lot Owner shall not cause an adverse effect on the adjacent lots, roads, stormwater conveyances,or erosion control measures. � DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 17 Article 7. ASSESSMENTS Section 7.1 Creation of the Lien and Personal Obligation of Assessments. Each Owner of a Lot by acceptance of a deed therefore, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association any Assessment duly levied by the Association as provided in this Declaration. Each such Assessment,together with interest,costs, late charges and reasonable attorneys' fees shall be the personal obligation of the person(s) who was the Owner of such Lot at the time when the Assessment fell due. Such Assessments, together with interest, costs, late charges and reasonable attorneys' fees, if not paid when due, shall be a charge on the land and shall be a continuing lien upon the Lot against which each such Assessment is made as set forth in Section 7.13. The personal obligation of an Owner for delinquent Assessments shall not pass to a successor in title unless the lien for such delinquent Assessments was properly recorded prior to title transfer or unless expressly assumed by that party. When ownership of a Lot changes, Assessments payable in installments which have been established for the current fiscal year shall be prorated between the Buyer and Seller based on a 365 day year. Section 7.2 Liability for Assessments. Assessments which may be levied pursuant to the authority of the Board as set forth in this Declaration shall be established in accordance with this Article 7. Except as set forth in Section 7.10 with respect to Declarant, the obligation to pay Assessments shall commence as to each Lot after the Board first determines a budget and levies Assessments and after the Lot is first conveyed to an Owner other than Declarant. The first annual General Assessment levied on each Lot shall be adjusted according to the number of months remaining in the fiscal year at the time Assessments commence against the Lot. No Owner may exempt himself or herself from liability for his assessments by abandoning the Owner's Lot. Section 7.3 Association Budget. The Board shall prepare,or cause the preparation of,and adopt a budget for the Association at least annually,in accordance with generally accepted accounting principles. The operating budget shall set forth sums required by the Association,as estimated by the Board,to meet its annual costs and expenses, including any contribution to reserves. After termination of the Class B Control Period, the Board shall, within thirty days after adoption of any proposed budget of the Association, set a date for a meeting of the Members to consider ratification of the budget which shall be not less than ten nor more than fifty days after delivering a notice of the meeting and a summary of the budget to the members of the Association. Unless a majority of members of the Association who are present at the meeting reject the budget, the budget is ratified, whether or not a quorum is present. In the event the proposed budget is rejected or the required notice is not given,the periodic budget last ratified by the members shall be continued until such time as the members ratify a subsequent budget proposed by the Board. Section 7.4 Levy of General Assessment. In order to meet the costs and expenses projected in its operating budget, other than the costs set forth in Sections 7.7 and 7.8,the Board may determine and levy a General Assessment equally against every Lot that is subject to assessment hereunder. In determining the General Assessment rate per Lot, the Board may consider any Assessment income expected to be generated from any additional Lots reasonably anticipated to become subject to assessment during the fiscal year. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 18 Section 7.5 Amount of General Assessment. The Board shall make reasonable efforts to determine the amount of the General Assessment payable by each Owner for an assessment period at least 30 days in advance of beginning of such period. Notice of the General Assessment shall thereupon be sent to each Owner subject to assessment; provided, however, that failure to notify an Owner of the amount of an Assessment shall not render such Assessment void or invalid. Any failure by the Board, before the expiration of any assessment period, to fix the amount of the General Assessment hereunder for the next period,shall not be deemed a waiver or modification in any respect of the provisions of this Article or a release of any Owner from the obligation to pay the General Assessment,or any installment thereof,for that or any subsequent assessment period. Section 7.6 Assessment Period. The General Assessment fixed for the preceding period shall continue until a new Assessment is fixed. Upon any revision by the Board of the operating budget during the assessment period for which each budget was prepared, the Board shall, if necessary, revise the General Assessment levied against the Owners and give notice of the same in the same manner as the initial levy of a General Assessment for the assessment period. Section 7.7 Levy of Special Assessments. In addition to the General Assessments authorized by this Article,the Association may levy Special Assessments at any time against all Lot Owners,applicable to that year only,for the purpose of covering unbudgeted expenses or expenses in excess of those budgeted;provided, however,that any such Assessment must have the prior favorable vote of a majority of each class of Members. The amount of each Owner's Special Assessment for any year shall be calculated like the General Assessment, except that the total Special Assessment shall be substituted for the operating budget amount and shall be payable in one or more installments, as determined by the Board. Section 7.8 Levy of Specific Assessments. In addition to the General and Special Assessments authorized by this Article, the Association may levy Specific Assessments against a particular Lot or Lots as follows: (i) the costs of the Association for the maintenance, repair or reconstruction of any portion of the Association Maintained Area that is allocated to fewer than all the Lots, (ii) the costs incurred by the Association to bring the Owner's Lot into compliance with this Declaration or the other governing documents, and (iii) the costs, including overhead and administrative costs of providing services to Lots upon request of an Owner pursuant to any menu of special services which may be offered by the Association. Special Assessments may be levied either before or after the work is done,in the discretion of the Board. Section 7.9 Manner and Time of Payment. Assessments shall be payable in such reasonable manner as the Board shall designate. The Board may require that any Assessment or installment thereof which remains unpaid for at least 15 days after the due date thereof to be assessed a late charge not to exceed 20%of the delinquent Assessment and in addition, be charged interest at the rate of 12% per annum on the outstanding balance (Assessment plus late charge) if the delinquent Assessment plus late charge has not been paid by the last day of the month in which it is due. Section 7.10 Declarant's Option to Fund Budget Deficits. Until Assessments have commenced on all Lots, the Declarant may either pay Assessments as set by the Board in the same manner as any other Owner,or may pay the difference between the amount of Assessments levied on all other Lots subject to assessment and the amount of actual expenditures by the Association during the fiscal year. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 19 II • Section 7.11 Suspension of Voting Rights.The Association shall have the right to suspend the voting rights by any Owner for any period during which any Assessment against such Owner's Lot remains unpaid for thirty days or more, and for a period not to exceed 60 days for any, and for each separate,infraction of the Association's published rules and regulations. Section 7.12 Accounts. Any Assessments collected by the Association shall be deposited in one or more federally insured institutional depository accounts established by the Board. The Board shall have exclusive control of such accounts and shall maintain accurate records thereof. No withdrawal shall be made from said accounts except to pay for charges and expenses authorized by this Declaration. Section 7.13 Lien. In the event any Assessment or installment thereof remains delinquent for more than 60 days,the Board may, upon 15 days' prior written notice to the Owner of such Lot of the existence of the default,accelerate and demand immediate payment of the entire Assessment.The amount of any Assessment assessed or charged to any Lot plus interest, costs, late charges and reasonable attorneys' fees shall be a lien upon such Lot. A notice of Assessment may be recorded in the office where real estate conveyances are recorded for the county in which this property is located. Such notice of Assessment may be filed at any time at least 15 days following delivery of the notice of default referred to above in this Section. The lien for payment of such Assessment and charges shall have priority over all other liens and encumbrances, recorded or unrecorded, limited as provided in Section 9.1. Suit to recover a money judgment for unpaid Assessments or charges shall be maintainable without foreclosure or waiver of the lien securing the same. Said liens may be foreclosed as a mortgage. Section 7.14 Waiver of Homestead. Each Owner hereby waives, to the extent of any liens created pursuant to this Article, the benefit of any homestead or exemption law in effect at the time any Assessment or installment thereof become delinquent or any lien is imposed pursuant to the terms hereof. Section 7.15 Records and Financial Statements. The Board shall prepare or cause to be prepared for any fiscal year in which the Association levies or collects any Assessments, a balance sheet and an operating(income/expense)statement for the Association which shall include a schedule of delinquent Assessments identified by the number of the Lot and the name of the Lot Owner; provided, however, such documents need not be prepared by a certified public accountant unless requested by the Board or a majority of the Owners. The Board shall cause detailed and accurate records of the receipts and expenditures of the Association to be kept specifying and itemizing the maintenance, operating,and any other expense incurred. Such records,copies of this Declaration,the Articles and the Bylaws, and any resolutions authorizing expenditures of Association funds shall be available for examination by any Owner at convenient weekday hours. Section 7.16 Certificate of Assessment. A certificate executed and acknowledged by the treasurer or the president of the Board (or an authorized agent thereof, if neither the president nor treasurer is available)stating the indebtedness for Assessments and charges or lack thereof for any Lot shall be conclusive upon the Association as to the amount of such indebtedness on the date of the certificate, in favor of all persons who rely thereon in good faith. Such a certificate shall be furnished to any Owner or any Mortgagee of a Lot within a reasonable time after request, in recordable form,at DECLARATION OF COVENANTS,CONDITIONS.RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 20 a reasonable fee. Unless otherwise prohibited by law,any Mortgagee holding a lien on:a Lot may pay any unpaid Assessments or charges with respect to such Lot,and,upon such payment,shall have a lien on such Lot for the amounts paid of the same priority as its lien. Section 7.17 Foreclosure of Assessment LienLAttomevs Fees and Costs. The Board (or authorized agent) on behalf the Association, may initiate an action to collect any Assessment or to foreclose the lien of any Assessment. In any action to foreclose the lien of, or otherwise collect delinquent Assessments or charges,any judgment rendered in favor of the Association shall include a reasonable sum for attorneys' fees and all costs and expenses reasonably incurred in preparation for or in the prosecution of said action, in addition to all costs permitted by law. Said liens may be foreclosed as a mortgage. Section 7.18 Curing of Default. The Board shall prepare and record a satisfaction and release of the lien for which a notice of Assessment has been filed and recorded in accordance with this Article upon timely payment or other satisfaction of all delinquent Assessments and all costs, fees, late charges and interest which have accrued thereon,with respect to the Lot to which such notice of Assessment was recorded. For the purpose of this paragraph,the term"costs"shall include costs and expenses actually incurred or expended by the Association in connection with the cost of preparation and recordation of the notice of Assessment and any efforts, including litigation, to collect the delinquent Assessments,including a reasonable sum for attorneys' fees and costs. In addition,a fee of one-hundred dollars ($100.00) or such other amount as may from time to time be set by the Board covering the cost of preparation and recordation of the satisfaction of lien shall be paid to the Association prior to such action. The satisfaction and release of the lien shall be executed by the president or treasurer of the Association or by any authorized representative of the Board. Section 7.19 Delinquent Assessment Deposit;Working Capital. 7.19.1 A Lot Owner may be required by the Board to make and maintain a deposit in an amount of up to three months estimated monthly Assessments, if a Lot Owner has been thirty days(30)days delinquent in payment of any Assessments owing on two(2)or more occasions within a one (1) year period. Such deposit shall be held in a separate fund, be credited to the Lot owned by such Owner, and be for the purpose of establishing a reserve for delinquent Assessments. The Board shall provide notice to the Lot Owner of such deposit requirement thirty (30) days in advance of its due date. 7.19.2 Said deposits shall not be considered as advance payments of regular Assessments,but a fund to be drawn on by the Association if the Lot Owner fails to make payment of Assessments owing by their due date. In the event the Board should draw upon said deposit as a result of a Lot Owner's delinquency in payment of any Assessments, the Owner shall continue to be responsible for the immediate and full payment of the delinquent Assessment (and all penalties and costs thereon)and thus the full restoration of said deposit, and the Board shall continue to have all of the rights and remedies for enforcing such Assessment payments and deposit restoration payments as provided by this Declaration and by law. The deposit shall be returned to the Owner if the Owner makes all Assessment payment when due fora period of one(1)year. 7.19.3 Upon the sale of a Lot,the seller/Owner thereof shall not be entitled to a refund from the Association of any deposit or reserve account made or maintained with respect to DECLARATION OF COVENANTS.CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 21 such Lot pursuant to this or any other section of this Declaration; rather, any such deposit or reserve account shall continue to be held by the Association for the credit of such Lot, and the seller/Owner shall be responsible for obtaining any reimbursement from the purchaser. 7.19.4 The first purchaser of any Lot shall pay to the Association, in addition to other amounts due, three hundred dollars ($300.00) as an initial contribution to the Association's working capital. Such working capital contributions are not a prepayment of nor credited to assessments owing or to become owing by any Owner,and are not refundable or subject to reimbursement by the Association. Such funds shall not be used to defray Declarant's expenses in completing the construction or development of the Property or to makes up any deficits in the budget of the Association during the Class B Control Period. Such funds shall be turned over to the Association upon termination of the Class B Control Period. Article 8. COMPLIANCE AND ENFORCEMENT Section 8.1 Enforcement. 8.1.1 Each Member, Board member and the Association shall comply strictly with the provisions of this Declaration and with the Bylaws and administrative rules and regulations adopted by the Association(as the same may be lawfully amended from time to time). A claim for damages or injunctive relief,or both,may be filed by the Board(acting through its officers on behalf of the Association and the Owners)or by the aggrieved Owner on his own,against the party(including an Owner or the Association) failing to comply. In addition, the City shall have enforcement rights elating to the maintenance obligations of the Association as a third party beneficiary to the extent provided in Section 14.6. 8.1.2 In any action or arbitration to enforce the provisions of Section 8.1 or any other provision of this Declaration,the Articles or the Bylaws,the substantially prevailing party in such action or arbitration shall be entitled to an award for reasonable attorneys' fees and all costs and expenses reasonably incurred in preparation for prosecution of said action or arbitration, in addition to all costs permitted by law. Section 8.2 No Waiver of Strict Performance. The failure of the Board or Declarant, as applicable, in any one or more instances to insist upon or enforce the strict performance of any of the terms, covenants, conditions or restrictions of this Declaration, or of any Bylaws or administrative rules or regulations, shall not be construed as a waiver or a relinquishment for the future of such term, covenant,condition or restriction,but such term,covenant,condition or restriction shall remain in full force and effect.No waiver by the Board of any provision hereof shall be deemed to have been made unless expressed in writing and signed by the Board. Section 8.3 Remedies Cumulative. The remedies provided herein are cumulative,and the Board may pursue them concurrently, as well as any other remedies which may be available under law,although not expressed herein. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 22 Article 9. LIMITATION OF LIABILITY Section 9.1 No Personal Liability. So long as a Board member, Association committee member, Association officer, or authorized agent(s) has acted in good faith, without willful or intentional misconduct, upon the basis of such information as may be possessed by such person, no person shall be personally liable to any Member, or other party including the Association, for any damage, loss or prejudice suffered or claimed on account of any act, omission, error, negligence (except gross negligence), any discretionary decision or failure to make a discretionary decision, by such person in such person's official capacity; provided, however, that this Section shall not apply where the consequences of such act, omission, error or negligence are covered by insurance or bond obtained by the Board pursuant to Article 4 or Article 13 hereof. Section 9.2 Indemnification. Each Board member or Association committee member, or Association Officer,and their respective heirs and successors,shall be indemnified by the Association against all expenses and liabilities, including attorneys' fees, reasonably incurred by or imposed in connection with any proceeding to which he or she may be party, or in which he or she may become involved, by reason of being or having held such position at the time such expenses or liabilities are incurred, except in the case where such person is adjudged guilty of intentional misconduct, or gross negligence or a knowing violation of law in the performance of his or her duties, and/or in the case when such person has participated in a transaction from which said person will personally receive a benefit in money, property,or services to which said person is not legally entitled; provided,however, that in the event of a settlement, indemnification shall apply only when the Board approves such settlement and reimbursement as being in the best interests of the Association. Nothing contained in this Section 9.2 shall be deemed to obligate the Association to indemnify any Member who is or has been a Board member or officer of the Association with respect to any duties or obligations assumed or liabilities incurred by him or her solely in his/her capacity as a Member or Owner of a Lot and not in his/her capacity as Board member. Article 10. MORTGAGEE PROTECTION Section 10.1 Priority of Mortgages. Notwithstanding all other provisions hereof, the liens created under this Declaration upon any Lot for assessments shall be subject to tax liens on the Lot in favor of any assessing and/or special district and be subject to the rights of the secured party in the case of any indebtedness secured by first lien Mortgages or deeds of trust which were made in good faith and for value upon the Lot. A Mortgagee,or other purchaser of a Lot,who obtains ownership of a Lot as a result of foreclosure or deed in lieu thereof will not be liable for any Assessments accruing before such ownership but shall be liable for any Assessment accruing after such ownership. Such unpaid share of common expenses or Assessments shall be deemed to be common expenses collectible from all of the Lot Owners including such owner, his successor and assigns. For the purpose of this Article, the terms "Mortgage" and "Mortgagee" shall not mean a real estate contract (or the vendor there under), or a Mortgage or deed of trust (or Mortgagee or beneficiary there under) securing a deferred purchase price balance owed with respect to a sale by an individual Lot Owner other than Declarant. Section 10.2 Effect of Declaration Amendments. No amendment of this Declaration shall be effective to modify,change or limit or alter the rights expressly conferred upon Mortgagees in this DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 23 1 Declaration with respect to any unsatisfied Mortgage duly recorded at the time the amendment is approved unless the holder of the Mortgage has consented in writing to the amendment in writing. Any provision of this Article conferring rights upon Mortgagees which is inconsistent with any other provision of this Declaration shall control over such other inconsistent provisions. Section 10.3 Rights of Lien Holders. A breach of any of the provisions, conditions, restrictions,covenants,easements or reservations herein contained shall not affect or impair the lien or charge of any bona fide Mortgage made in good faith for value on any Lots; provided, however,that any subsequent owner of the Lot shall be bound by these provisions whether such owner's title was acquired by foreclosure or trustee's sale or otherwise. Section 10.4 Copies of Notices. If the first Mortgagee of any Lot has so requested of the Association in writing, the Association shall give written notice to such first Mortgagee that an Owner/Mortgagor of a Lot has for more than 60 days failed to meet any obligation under this Declaration. Any first Mortgagee shall,upon written request,also be entitled to receive written notice of all meetings of the Association and be permitted to designate a,rrepresentative to attend such meetings. Section 10.5 Furnishing of Documents. The Association shall make available to prospective purchasers, Mortgagees, insurers, and guarantors, at their request, current copies of the Declaration, Bylaws, and other rules governing the Property, and the most recent balance sheet and income/expense statement for the Association, if any has been prepared. Article 11. ABANDONMENT OF SUBDIVISION STATUS Section 11.1 Duration of Covenants. The covenants contained herein shall run with and bind the land and be perpetual, unless modified by an instrument executed in accordance with Article 12. Section 11.2 Abandonment at Subdivision Status. The Association shall not, without the prior written approval of the governmental entity having jurisdiction over the Property and without prior written approval of 100% of all first Mortgagees and Owners (other than the developer or builder) of record, seek by act or omission to abandon or terminate the subdivision status of the Property as approved by the governmental entity having appropriate jurisdiction over the Property. Article 12. AMENDMENT OF DECLARATION OR PLAT Section 12.1 Declaration Amendment. Amendments to this Declaration shall be made by an instrument in writing and shall set forth the entire amendment. Until the termination of the Class B Control Period, this Declaration may be amended by an instrument approved and executed by the Class B Member. Thereafter,except as set forth in Section 12.3 of this Declaration,amendments must be approved by Owners, including Declarant, having over 67% of the votes in the Association. The members' approval may be obtained by a special vote of the members at a meeting of the Association, or the written consent of the requisite percentage of members. The amendment shall be executed by the president and secretary of the Association who shall certify that the requisite vote'or consent has DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 24 been obtained. Notwithstanding any of the foregoing, the prior written approval of 51% of all first Mortgagees who have requested notification from the Association of amendments shall be required for any material amendment to the provisions of the Declaration or the Bylaws regarding any of the following: voting rights; Assessments,Assessment liens,and subordination of such liens; reserves for maintenance, repair, and replacement of Common Area or Association Maintained Area; insurance or fidelity insurance; responsibility for maintenance and repair, leasing of Lots other than set forth herein; imposition of any restrictions on the right of an Owner to sell or transfer his Lot;a decision by the Association to establish self-management when professional management has been required previously by the Mortgagees; or any provisions which are for the express benefit of Mortgagees or eligible insurers or guarantors of first Mortgages. It is specifically covenanted and understood that any amendment to this Declaration properly adopted will be completely effective to amend any or all of the covenants, conditions and restrictions contained herein which may be affected and any or all clauses of this Declaration unless otherwise specifically provided in the section being amended or the amendment itself. En addition, the written approval of the City shall be required for any amendment to the provisions of this Declaration relating to the maintenance obligations of the Association set forth in the Plat,as provided in Section 14.6. Section 12.2 Plat. Subject to other applicable provisions of the Declaration, the Plat may be amended by revised versions or revised portions thereof. Except as otherwise provided in Section 12.3, until the termination of the Class B Control Period the Plat may be amended by an instrument approved and executed by the Class B Member,provided that if such amendment directly affects a Lot owned by someone other than Declarant the approval of the Owner of such directly affected Lot shall also be required. Except as set forth in Section 12.3 of this Declaration, after termination of the Class B Control Period,amendments must be approved by Owners,including Declarant,having over 67%of the votes in the Association, provided that the Owners of all Lots directly impacted by the proposed revision must approve the proposed amendment. Copies of any proposed amendment to the Plat shall be made available for the examination of every Owner. Such an amendment to the Plat shall be effective, once properly adopted, upon having received any governmental approval required by law and recordation in the appropriate city or county offices in conjunction with the Declaration amendment. Section 12.3 Amendments By Declarant. Notwithstanding anything to the contrary contained herein, the Declarant reserves the right to amend this Declaration, the Articles and the Bylaws and the Plat until Declarant no longer owns any Lot in the Property without the consent of any Owners, Mortgagees or other persons claiming an interest in the Property or the Association if such amendment is needed to (i) bring the document or Plat into compliance with any applicable rule, regulation,requirement,decision or order of the Federal Housing Administration,the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation or a local or state government; (ii) make corrective changes; (iii) reflect the actual location, dimensions or characteristics of the constructed improvements; (iv) reflect the proper location of boundary lines of the Lots, Tracts or Common Area; (v) establish, vacate or relocate any easements; or (vi) change the person who is to receive service of process for the Declarant. Article 13. INSURANCE Section 13.1 Association Insurance. The Board shall cause the Association to purchase and maintain at all times as a common expense a policy or policies necessary to provide DECLARATION OF COVENANTS.CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 25 • comprehensive liability insurance;fidelity insurance,to the extent reasonably available at a reasonable cost; worker's compensation insurance to the extent required by applicable laws; insurance against loss of personal property of the Association by fire, theft or other causes with such deductible provisions as the Board deems advisable;and such other insurance as the Board deems advisable. The Board may also, in its sole discretion, cause the Association to purchase and maintain insurance, if available, for the protection of the Association's directors, officers and representatives from personal liability in the management of the Association's affairs. The Board shall review at least annually the adequacy of the Association's insurance coverage. All insurance shall be obtained from insurance carriers that are generally acceptable for similar projects and licensed to do business in the state of Washington. All such insurance policies and fidelity bonds shall provide that coverage may not be cancelled or substantially modified (including cancellation for nonpayment of premium) without at least 30 days' prior written notice to any and all insureds named therein,including Owners, holders of Mortgages,and designated servicers of Mortgagees. 13.1.1 Notwithstanding anything to the contrary contained herein, for so long as the Declarant controls the Board, the Declarant reserves the right to include the insurance obligations of the Association within a master insurance program controlled by the Declarant and upon doing so,the insurance obligations provided for under this Declaration shall be deemed satisfied. Section 13.2 Owners' Insurance. 13.2.1 All Owners shall obtain and maintain property insurance, liability insurance, and such other insurance as is required herein and as the Board deems advisable. All insurance shall be obtained from insurance carriers that are generally acceptable for similar residential properties and authorized to do business in the state of Washington. All such insurance policies shall provide that coverage may not be cancelled or substantially modified (including cancellation for nonpayment of premium)without at least 30 days' prior written notice to the Association to the extent such notice provision is reasonably available. All Owners shall provide the Association with proof of insurance upon the request of the Association. 13.2.2 The property insurance maintained by each Owner shall, at the minimum,provide all risk or special cause of loss coverage in an amount equal to the full replacement cost of.each Home and all fixtures and improvements located thereon, with such reasonable deductibles and exclusions from coverage as the Board may from time to time approve or by rule or regulation establish. 13.2.3 The liability insurance coverage maintained by each Owner shall cover liability of the insureds for property damage and bodily injury and death of persons arising out of the operation, maintenance, and use of the Lot and such other risks as are customarily covered for similar residential properties with a limit of liability of at least$300,000. 13.2.4 Any portion of the Home or Lot for which insurance is required under this Article which is damaged or destroyed shall be repaired or replaced promptly by the Owner pursuant to Section 6.23 unless the subdivision is terminated or repair or replacement would be illegal under any state or local health or safety statute or ordinance. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 26 Article 14. MISCELLANEOUS Section 14.1 Notices. 14.1.1 Any written notice or other documents as required by this Declaration may be delivered personally or by mail. If by mail,such notice,unless expressly provided for herein to the contrary with regard to the type of notice being given, shall be deemed to have been delivered and received 48 hours after a copy thereof has been deposited in the United States mail, postage prepaid,addressed as follows: 14.1.1.1 If to a Member,other than Declarant: to the mailing address of such Member maintained by the Association,pursuant to the Bylaws. 14.1.1.2 If to Declarant,whether in its capacity as a Member,or in any other capacity,the following address(unless Declarant shall have advised the Board in writing of some other address): CamWest Olympus Villa LLC 9720 NE 120th Place,Suite 100 Kirkland,Washington 98034 14.1.1.3 Until the termination of the Class B Control Period notices to the Association shall be addressed as set forth above. Thereafter, notices to the Association shall be addressed to the official mailing address furnished by written notice from the Association. In addition, from and after the organizational meeting, notice of the address of the Association shall be given by the Board to each Owner, within a reasonable time after the Board has received actual notice of such Owner's purchase of a Lot. Section 14.2 Conveyance: Notice Required. The rights of an Owner to sell, transfer or otherwise convey his or her Lot shall not be subject to any right of approval,disapproval,first refusal, or similar restriction by the Association or the Board, or anyone acting on their behalf. If a Lot is being sold, the Board shall have the right to notify the purchaser,the title insurance company,and the closing agent of the amount of unpaid Assessments and charges outstanding against the Lot, whether or not such information is requested. • Section 14.3 Successors and Assigns. This Declaration shall be binding upon and shall inure to the benefit of the heirs, personal representatives, successors and assigns of Declarant and KKBL, and the heirs, personal representatives, grantees, lessees, sub lessees and assignees of the Member. Section 14.4 Joint and Several Liability. In the case of joint ownership of a Lot, the liability of each of the Owners thereof in connection with the liabilities and obligations of Owners, set forth in or imposed by this Declaration,shall be joint and several. DECLARATION OF COVENANTS,CONDITIONS.RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 27 Section 14.5 Mortgagee's Acceptance. 14.5.1 This Declaration shall not initially be binding upon any Mortgagee of record prior to and at the time of recording of this Declaration, but shall be subject and subordinate to said Mortgagee's Mortgage. 14.5.2 Declarant shall not convey title to any Lot until the Mortgagee of the Lot has made appropriate arrangements for partial release of the Lot from the lien of the Mortgage. The first such partial release by said Mortgagee shall constitute its acceptance of the provisions of this Declaration as to all of the Lots that remain subject to its Mortgage; provided, that, except as to Lots so released,said Mortgage shall remain in full force and effect as to the entire Property. Section 14.6 City Rights. The maintenance obligations of the Association required by the Plat may not be amended or terminated without the written approval of the City of Renton. The City shall be deemed to be a third party beneficiary of this Declaration with respect to all provisions relating to the maintenance obligations of the Association set forth in the Plat and shall have the full right to enforce to enforce the same. Section 14.7 Severability. The provisions hereof shall be deemed independent and severable, and the invalidity or partial invalidity or unenforceability of any one provision or portion thereof shall not affect the validity or enforceability of any other provision hereof. Section 14.8 Construction. The provisions of this Declaration shall be liberally construed to effectuate its purpose of creating a uniform plan for the operation and maintenance of the Property. Section 14.9 Captions. Captions given to the various articles and sections herein are for convenience only and are not intended to modify or affect the meaning of any of the substantive provisions hereof. Section 14.10 Effective Date. The Declaration shall take effect upon execution, but shall not be effective as against purchasers of Lots and Mortgagees until recording. Signature on next page. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 28 Signature Page • DATE: 1 6 DECLARANT: Cam West Olympus Villa LLC,a Washington limited liability company By:Toll WA LP,a Washington limited partnership Its: Member By: i Lb Eric H. :f pbel /i ivisio Pre- dent Toll WA GP C. a Washington corporation Its:General Partner AND By: Go Fever LLC,a Washington limited liability company Its: Member BY: ����\. Bill Finkbeiner Its: Member DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 29 STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) I certify that I know or have satisfactory evidence that Eric H. Campbell is the person who appeared before me, and said person acknowledged that said person signed this instrument, on oath stated that said person was authorized to execute the instrument and acknowledged it as the Division President of Toll WA GP Corp, a Washington corporation, general partner of Toll WA LP, a Washington limited partnership, member of CamWest Olympus Villa LLC, a Washington limited liability company to be the free and voluntary act of such entity for the uses and purposes mentioned in the instrument. Dated this4day of0.�r;j,2012. ti4. �° NOTARY (Signature of Notary). a UBUC Lt'�� c0.__ 1--t.: ISC:�"1 kg. _t4 �,�o (Legibly Print or Stamp Name of Notary) F wASN``' Notary public in and for the state of Washington, ''3n�� residing at len,r V Sc.,-.e4 My appointment expires c1 1�Z1 t,r STATE OF WASHINGTON ) ) ss. COUNTY OF KING ) I certify that I know or have satisfactory evidence that Bill Finkbeiner is the person who appeared before me, and said person acknowledged that said person signed this instrument, on oath stated that said person was authorized to execute the instrument and acknowledged it as the member of Go Fever LLC,a Washington limited liability company, member of Cam West Olympus Villa LLC,a Washington limited liability company to be the free and voluntary act of such entity for the uses and purposes mentioned in the instrument. Dated this 164-isday ofr _:t ,2012. ��Q c ?o%NOTARY 0 4• (Signature of Notary) �° NOTARY 9�r 1---i So_. ti Y ' '1 S7 h . tS• N (Legibly Print or Stamp Name of Notary) -+ PUBLIC o 2 Notary public in and for the state of Washington, ?+,4 9-22-14 G". residing at K,r 1`10.-ted Itl �F wast`' My appointment expires c L ..>11....i -1z�. DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) PAGE 30 EXHIBIT A LEGAL DESCRIPTION OF THE PROPERTY Lots MI and Tract B of the Plat of Olympus Villa recorded in Volume of Plats, Pages , under King County recording number DECLARATION OF COVENANTS,CONDITIONS.RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) EXHIBIT A EXHIBIT B-1 MAINTENANCE OBLIGATIONS This table identifies the various lots,tracts,and easements within the Property,who owns those portions or has an easement interest,who is responsible to maintain them,and how the maintenance costs are allocated. Exhibit B-2 provides more detail about the easements over Lots and Tracts. I Lots,Tracts or Property Owner or Easement Maintained by: Paid for by and/or I Easements: Beneficiary: Assessed to: Individual Lots Lot Owner owns Lot,including Owner maintains Home, Lot Owner pays. Street Trees located in the planter other Lot structures, strip,and private utilities serving Yard Landscaping the Lot. Any private and public including Street Trees& utilities owned by others located planter strip abutting the within an easement on Lots as set Lot.Irrigates Yard out on the Plat are owned by the Landscaping including person or utility benefitting from Street Trees&planter the easement. strip.Sweeps,removes snow from sidewalk. Private Access and See Exhibit B-2,Note 2 See Exhibit B-2,Note 2 Lot Owners Utility Easement Benefitted,see over Lot 3 for Exhibit B-2,Note 2 Benefit of Lot 2 Public Utility The Public Utility Easement is Public Utility maintains Public Utility Easement over Lots located on all Lots&Tracts. Lots all utilities within the and Tracts. are owned by Lot Owners;Tract Easements. A is owned by Renton;Tract B by the HOA&Tract C by Declarant. Easement facilities are owned by the Utility. Tract A—Detention Tract A is not part of HOA. It is City of Renton except City of Renton owned by the City of Renton, for any public utilities except public utilities including the stormwater pond. which are maintained by which are paid for by Public utilities within the Tract in the Public Utility. HOA Public Utility& the Public Utility Easement are shall maintain Tract A landscaping which is owned by the Utility. landscaping. paid for by HOA& assessed to Lot Owners. Tract B—Open HOA owns Tract B. Any public HOA maintains(except HOA pays&all Lots Space/Sensitive utilities in Public Utility Easement public utilities) assessed. Area are owned by the Utility.HOA including fence&Street maintains Tract B&Street Trees Trees in right-of-way in in abutting planter strip. front of Tract. Tract C—Future Declarant retains ownership of Tract C is not part of Declarant is Development Tract C. It is not part of the HOA. HOA. Declarant is responsible for Tract responsible for Tract C. C. Landscaping/Street City of Renton HOA HOA pays&all Lots Trees at Plat Entry assessed. in Right-of-Way& in front of Tracts A &B. Street Lighting City of Renton City of Renton City of Renton DECLARATION OF COVENANTS.CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) EXHIBIT B-I EXHIBIT B-2 PUBLIC AND PRIVATE EASEMENTS (Easement Notes from Sheet 2 of the Plat) EASEMENT PROVISIONS/MOTES: THE EASEMENT'S DEPICTED ON THE MAP SHEETS OF THIS FINAL PLAT ARE FOR THE LIMITED PURPOSES LISTED BELOW AND ARE HEREBY CONVEYED FOLLOWING THE RECORDING OF THIS FINAL PLAT AS SPECIFIED ACCORDING TO THE RESERVATIONS LISTED BELOW: THE CITY OF RENTON SHALL HAVE THE RIGHT TO ENTER THE PRIVATE ORAINAGE EASEMENTS SHOWN HEREON TO REPAIR ANY DEFICIENCIES OF THE DRAINAGE FACILITY IN THE EVENT THE OWNERS) IS/ARE NEGLIGENT IN THE MAINTENANCE OF THE DRAINAGE FACILITES. THESE REPAIRS SHALL BE AT THE OWNER'S COST. 1. AN EASEMENT IS HEREBY GRANTED AND CONVEYED TO THE CITY OF RENTON, KING COUNTY WATER DISTRICT 990. PUGET SOUND ENERGY, OVIEST, COMCAST, THE OWNERS OF ALL LOTS WITHIN THIS PUT AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, UNDER. OVER AND UPON THOSE EASEMENTS DESIGNATED AS 'UTILITY EASEMENT', THE EXTERIOR 10 FEET PARALLEL WITH AND ADJOINING THE STREET FRONTAGE OF ALL LOTS AND TRACTS IN WHICH TO INSTALL LAY CONSTRUCT. RENEW. OPERATE AND MAINTAIN UNDERGROUND CONDUITS, CABLE. PIPELINE. AND WIRES YITH THE NECESSARY FACILITIES AND OTHER EQUIPMENT FOR THE PURPOSE OF SERVICE TO THIS SUBDIVISION AND OTHER PROPERTY WITH ELECTRIC. TELEPHONE. GAS. CABLE T.V. SERVICE, SEWER. WATER AND DRAINAGE TOGETHER WITH THE RIGHT TO ENTER UPON THE EASEMENTS AT ALL TIMES FOR THE PURPOSES STATED. NO LINES OR WIRES FOR THE TRANSMISSION OF ELECTRIC CURRENT. OR FOR TELEPHONE USE. CABLE TELEVISION, FIRE OR POLICE SIGNAL FOR OTHER PURPOSES. SHALL BE PLACED UPON ANY LOT UNLESS THE SAME SHALL BE UNDERGROUND OR IN CONDUIT ATTACHED TO A BUILDING. 2. THE 15' PRIVATE ACCESS AND UTILITY EASEMENT OVER HOT 3 IS FOR THE BENEFIT OF LOT 2. MAINTENANCE OF SAID EASEMENT SHALL BE SHARED IN EQUAL PARTS BY THE OWNERS OF LOTS 2 AND 3 WNFI THE EXCEPTION THAT THE OWNER OF LOT 3 SHALL BEAR NO RESPONSIB;LITV FOR MAINTENANCE OF THE STORM DRAINAGE LINE ABOVE THE POINT OF THEIR CONNECTION. • DECLARATION OF COVENANTS,CONDITIONS,RESTRICTIONS AND RESERVATIONS(OLYMPUS VILLA) EXHIBIT 11-2