for
BOARDWALK
PHASE II
Adopted
by
Boulder-Larimer
Properties, Inc.,
Declarant
as
of
April 7,
1989
TABLE OF CONTENTS
Page
Article I
DEFINITIONS .......................................................... 2
1.1 "Architectural Review Committee" or
"Committee".............................................. 2
1.2 "Articles" or "Articles of
Incorporation" .............................................................. 2
1.3 "Assessment Lien" ............................................................................................. 2
1.4 "Assessment Notice" ......................................................................................... 2
1.5 "Association" .................................................................................................... 2
1.6 "Building" .......................................................................................................... 2
1.7 "Building Site" ................................................................................................... 2
1.8 "Building Site Equivalent" ................................................................................... 3
1.9 "Bylaws" ........................................................................................................... 3
1.10 "Board of Directors" or "Board" ........................................................................ 3
1.11 "Common Area" ............................................................................................... 3
1.12 "Declarant" ....................................................................................................... 3
1.13 "Declarant Control Period" ................................................................................ 3
1.14 "Declaration" ..................................................................................................... 3
1.15 "First Mortgage" ............................................................................................... 3
1.16 "First Mortgagee" .............................................................................................. 3
1.17 "Floor Area" ..................................................................................................... 4
1.18 "Improvement" .................................................................................................. 4
1.19 "Major Repairs ................................................................................................. 4
1.20 "Managing Agent" ............................................................................................. 4
1.21 "Map" ............................................................................................................... 4
1.22 "Mortgage" ....................................................................................................... 5
1.23 "Mortgagee" ..................................................................................................... 5
1.24 "Owner" ........................................................................................................... 5
1.25 "Party Wall" ...................................................................................................... 5
1.26 "Perimeter Fence" ............................................................................................. 5
1.27 "Permittee" ........................................................................................................ 5
1.28 "Person" ........................................................................................................... 5
1.29 "Project" ........................................................................................................... 5
1.30 "Property" ......................................................................................................... 5
1.31 "Undeveloped Building Site" .............................................................................. 5
Article II
THE
ASSOCIATION ..................................................... 6
2.1 General Purposes and Powers ........................................................................... 6
2.2 Board of Directors ............................................................................................ 6
2.3 Amplification by Bylaws .................................................................................... 7
2.4 Management and Maintenance of Common Area ............................................... 7
2.5 Maintenance Reserves ...................................................................................... 7
2.6 Driveways and Parking Areas ........................................................................... 7
2.7 Undeveloped Building Sites ............................................................................... 7
2.8 Entry onto Building Sites ................................................................................... 7
2.9 Recovery from Owners ..................................................................................... 8
2.10 Labor and Services ........................................................................................... 8
2.11 Special Services ................................................................................................ 8
2.12 Property of the Association ............................................................................... 8
2.13 Implied Rights ................................................................................................... 8
2.14 Right to Enforce ................................................................................................ 9
Article III
RIGHTS
IN THE ASSOCIATION .......................................... 9
3.1 Membership and Inseparability of Rights ............................................................ 9
3.2 Voting .............................................................................................................. 9
3.3 Changes in Undeveloped Building Sites ............................................................ 10
3.4 Owners' Addresses for Notices ........................................................................ 10
Article IV
COMMON
AREA RIGHTS AND USAGE .................................. 10
4.1 Rights and Easements in the Common Area ...................................................... 10
4.2 Easements for Access ...................................................................................... 10
4.3 Additional Easements, Licenses and Permits ..................................................... 11
4.4 Limitations and Restrictions .............................................................................. 11
4.5 Association as Owner of the Common Area ..................................................... 11
Article V
ASSESSMENTS ........................................................ 11
5.1 Annual Budget ................................................................................................. 11
5.2 Regular Assessments ........................................................................................ 11
5.3 Notice to Owners ............................................................................................ 12
5.4 Special Assessments ........................................................................................ 12
5.5 Deposit for Reserves ........................................................................................ 12
5.6 Payment Terms, Late Charges, Interest and Collection Costs ............................ 12
5.7 Personal Obligation .......................................................................................... 13
5.8 Remedies for Nonpayment ............................................................................... 13
5.9 Lien for Assessments ....................................................................................... 13
5.10 Borrowing by Association ................................................................................ 14
5.11 Liability of Transferees ..................................................................................... 15
5.12 Certificate as to Status of Assessments ............................................................. 15
Article VI
EASEMENTS .......................................................... 15
6.1 Easements of Record ....................................................................................... 15
6.2 Easement for Encroachments ............................................................................ 15
6.4 Utility Easement ............................................................................................... 16
6.5 Emergency Easement ....................................................................................... 16
6.6 Easements for Maintenance .............................................................................. 16
6.7 Easements for Drainage .................................................................................... 17
6.8 Easements for Restorations and Repairs ........................................................... 17
6.9 Declarant's Rights Incident to Construction ....................................................... 17
6.10 Easements Deemed Created ............................................................................ 18
Article VII
ARCHITECTURAL
REVIEW COMMITTEE ............................... 18
7.1 Committee ....................................................................................................... 18
7.2 Purpose ........................................................................................................... 18
7.3 Aesthetic Considerations .................................................................................. 18
7.4 Building Standards ........................................................................................... 19
7.5 Criteria for Review ........................................................................................... 19
7.6 Review Procedures .......................................................................................... 20
7.7 Compliance with Legal Requirements ............................................................... 21
7.8 Diligence in Completion .................................................................................... 21
7.9 Noncompliance ................................................................................................ 21
7.10 Variances ........................................................................................................ 22
7.11 Approvals Set no Precedents ........................................................................... 23
7.12 Meetings .......................................................................................................... 23
7.13 Compensation of Members .............................................................................. 23
7.14 Address ........................................................................................................... 23
Article VIII
RESTRICTIONS ....................................................... 23
8.1 Building Sites to be Maintained ......................................................................... 23
8.2 Owners' Duty of Maintenance and Repair ......................................................... 23
8.3 Use of Common Area ...................................................................................... 24
8.4 Zoning Compliance .......................................................................................... 24
8.5 Garbage and Refuse Disposal ........................................................................... 24
8.6 Drainage .......................................................................................................... 24
8.7 No Imperiling of Insurance ............................................................................... 24
8.8 No Violation of Law ........................................................................................ 24
8.9 Underground Electric Lines .............................................................................. 25
8.10 Parking Areas .................................................................................................. 25
8.11 Declarant's Use ................................................................................................ 25
8.12 Determination of Violations .............................................................................. 25
Article IX
PARTY
WALLS ........................................................ 25
9.1 General Rules of Law to Apply ........................................................................ 25
9.2 Repair and Maintenance ................................................................................... 25
9.3 Negligence ....................................................................................................... 26
9.4 Right to Contribution ........................................................................................ 26
9.5 Arbitration ....................................................................................................... 26
Article X
INSURANCE .......................................................... 26
10.1 Liability
Insurance ............................................................................................ 26
10.2 Hazard
Insurance on Common Area ................................................................. 27
10.3 Fidelity
Insurance ............................................................................................. 27
10.4 Workers'
Compensation and Employer's Liability Insurance .............................. 27
10.5 Officers'
and Directors' Liability Insurance ........................................................ 27
10.6 Other
Insurance ............................................................................................... 27
10.7 Insurance
Standards ......................................................................................... 27
10.8 Insurance
Reviews ........................................................................................... 28
10.9 Premiums
......................................................................................................... 28
10.10 Waiver of Claims ............................................................................................. 28
Article XI
DAMAGE TO OR
DESTRUCTION OF COMMON AREA
.................... 29
11.1 Notice
to Owners. ........................................................................................... 29
11.2 Segregation
of Repair Funds ............................................................................ 29
11.3 Competitive
Bids; Bonds; Exceptions ............................................................... 29
11.4 Repair;
Disposition of Surplus .......................................................................... 29
Article XII
CONDEMNATION
OF COMMON AREA .................................. 30
12.1 Consequences
of Condemnation ...................................................................... 30
12.2 Notice
to Owners ............................................................................................ 30
12.3 Complete
Taking ............................................................................................. 30
12.4 Partial
Taking ................................................................................................... 30
12.5 Protection
of First Mortgagees ......................................................................... 30