THIRD AMENDMENT TO
PROTECTIVE COVENANTS, EXCEPTIONS, RESERVATIONS AND CONDITIONS
BEECH MOUNTAIN LAKES
THIS THIRD AMENDMENT TO THE DECLARATION OF PROTECTIVE COVENANTS, EXCEPTIONS, RESERVATIONS AND CONDITIONS FOR BEECH MOUNTAIN LAKES (“Third Amendment to the Declaration”) made as of this 30th day of December, 1985, by BEECH MOUNTAIN LAKES CORPORATION, a Pennsylvania corporation, for itself and its successors and assigns (Declarant).
WHEREAS, Declarant is the owner of the real property now known as 'Beech Mountain Lakes' formerly known as “Lake of the Four Seasons”, a subdivision situated in the Townships of Butler, Foster and Dennison in Luzerne County, Pennsylvania, which real property is hereinafter referred to as the "Development”, and;
WHEREAS, the Declarant has heretofore filed the Declaration of Protective Covenants, Exceptions, Reservations and Conditions for Beech Mountain Lakes, ("Declaration”), which Declaration was recorded on May 1, 1985, in Book 2158, Pages 1028—1103 in the Office for Recording of Deeds, Luzerne County, Pennsylvania, and;
WHEREAS, Section 21.4 of the Declaration provides that the Declarant, may amend the Declaration, for whatever reason, at any rime prior to December 31, 1985;
N0W THEREFORE, the Declaration is amended only as set forth in this Third Amendment to the Declaration. Those Sections or subparagraphs thereof contained herein shall supplant and replace the Sections or subparagraphs thereof that bear the same Section or subparagraph number or designation. All other terms of the Declaration not changed by this Third Amendment to the Declaration shall be effective as of, and relate back to, the date of recordation of the Declaration in the Office for Recording of Deeds, Luzerne County. Pennsylvania.
7.4 Allocation of Association Assessment. The Association Assessment shall be allocated as follows:
(a) The Association Assessment for each Owner shall vary according to the type of property and the status of improvement to that property and shall be based on the following ratios:
Revisions to the above listed categories and ratios or additional categories and the ratio for such categories may be unilaterally established by the Declarant at any time prior to the Turnover Date by recording an amendment to this Declaration pursuant to Section 21.4 hereof. After the Turnover Date, the Association may only revise the above listed categories and ratios or establish additional categories and ratios by recording an amendment to this Declaration pursuant to Section 21.3 hereof.
(b) The formula used to calculate the Association Assessment is as follows:
Association Assessment per Residential Unimproved Lot = the following fraction:
[Numerator) (Total Estimated Common Expenses for ensuing year) - ($120 x A)
(Denominator) (2.00 x B) + (1.0 x C) + (.5 x D) + (1.0 x E) + (2.0 x F) + (4.0 x G).
A = The number of Charter Members (defined in subparagraph 7.4© below)
B = (Total number of Residential Dwelling Units minus (The number of Residential Dwelling Units Constructed on Charter Member lots now owned by Charter Members + the number at Residential Dwelling Units constructed on Exhibit D Members (defined in subparagraph 7.4(6) below) lots now owned by Exhibit D Members)
C = [Total number at Residential Unimproved Lots minus the number of residential Unimproved Lots now owned by Charter Members
D = The number of Sold Timeshare Weeks
E = The number of Sold Campground Interests
F = The number of Commercial Unimproved Lots
G = The number of Commercial Improved Lots
x = “multiplied by”
Notwithstanding the above, the Declarant, in its absolute discretion, but with no obligation whatsoever, may reduce the amount of the Association Assessment by subsidizing the assessment. However, all such reduced assessments shall remain in the same ratio as set forth above and no one category shall be reduced proportionately more than another.
(c) Notwithstanding the above, those persons listed on Exhibit C hereto, which is incorporated herein by reference, who originally purchased lots from Eastern Pennsylvania Marine Properties, Inc., and who still own said lot or lots (“Charter members”), will pay $10.00 per lot per month as the Association Assessment for road maintenance, security, recreational facilities and maintenance. No additional Association Assessment will be made to such owners for construction and maintenance of additional amenities other than reasonable user fees. This right of limited assessment is nontransferable.
(d) Notwithstanding the above, those persons listed on Exhibit D hereto, which is incorporated herein by reference, who purchased lots from Beech Mountain Lakes Corporation, between the months of March and December, 1985 and who still own said lot or lots (“Exhibit D Members”) will always pay the assessment levied against Unimproved lots as specified above, even if the lot has a residentia1 dwelling unit thereon. This right of limited assessment is nontransferable.
(e) Notwithstanding anything to the contrary herein, the Association Assessment shall not increase more than 10% per year, cumulatively, from the date of recordation of this Declaration, i.e., if the Association Assessment does not increase for two years, it may not be Increased more then 20% in the following year (10% each year, cumulatively).
21.4 Amendment by Declarant. Declarant reserves the right to amend this Declaration, without the approval of any other Owners or the Association or Mortgagees of Record, for whatever reason, at any time prior to December 31, 1987.
Anything herein to the contrary notwithstanding, Declarant reserves the right and power to record an amendment to this Declaration at any time from time to tire which amends this Declaration (i) to comply with requirements of the Federal
National Mortgage Association, the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Department of Housing and Urban Development, the Federal Housing Administration, the Veteran’s Administration, or any other governmental agency or any other public, quasi-public or private entity which performs (or may in the future perform) functions similar to those currently performed by such entities, (ii) to induce any of such agencies or entities to make, purchase, sell, insure, guarantee or otherwise deal with first mortgages covering Units, (iii) to correct clerical or typographical errors in the Declaration or any exhibit thereto, (iv) to bring the Declaration into compliance with applicable laws, ordinances or governmental regulations, (v) to amend the Declaration so as to establish a date certain as to Declarant's termination of control of the Association as provided in Section 11.3, or (vi) to restate or compile all previous amendments into a single document.
As provided in Sections 4.1 and 126.1, as long as it is deemed the Owner of any Common Area, community Common Area or Sports Facility, Declarant reserves the right to add to any existing Common Area, Community Common Area or Sports Facility or construct additional Common Areas, Community Common Areas or Sports Facilities.
Further, Declarant may change the arrangement of any Common Area or Community Common Area provided that the necessary consent of the Owners has been obtained consistent with Section 4.1.
Declarant has the right to unilaterally effectuate any such amendments to this Declaration as may be necessary or required in Declarant's sole discretion, to effectuate such actions, provides that such amendment shall not increase the proportion of Common Expenses borne by Owners, decrease an Owner's voting rights or decrease the size of an owner's Interest.
In addition, pursuant to Section 7.4, prior to the turnover Date, the Declarant reserves the right and power to record an amendment to this Declaration to establish additional categories of properties and ratios for the allocation of the Association Assessment for such additional categories.
In furtherance of the foregoing, a power coupled with an interest is hereby reserved and granted to the Declarant to make or consent to such amendments on behalf of each Owner. Each deed, Membership certificate, mortgage, trust deed, other evidence of obligation, or other instrument affecting a Unit and the acceptance thereof shall be deemed to be a grant and acknowledgment of, and a consent to the reservation of, the power to the Declarant to make, execute and record such amendments. The right and power to make such amendments hereunder shall terminate at such time as the Declarant is no longer vested with or controls title to any interest in the Development.
Any such amendments to this Declaration shall become effective upon the recording in the Office for Recording of Deeds, Luzerne County, Pennsylvania, of an instrument executed by Declarant, setting forth the text of such amendment in full, together with the appropriate recording data for this Declaration. Such amendment need only be executed and acknowledged by Declarant, and need not be consented to by any Owners, community Association, the Association, any Mortgagees of Record, lienholders or any other parties.
Notwithstanding the above, a Community Declaration shall be amended only as provided in each, respective Community Declaration.
Exhibit D Purchasers as defined in Section 7.4(6) of the Third Amendment to the Declaration of Protective Covenants, Exceptions, Reservations and Conditions for Beech Mountain Lakes
The following persons purchased lots from Beech Mountain Lakes Corporation between March 1985 and December 1985.
(For list, see original document)