|
1
<br />future record owners of the Condominium Units, to oversee, manage, maintain and repair the Common
<br />Elements of the Gateway Center Condominium. When and as used in this Agreement, the term
<br />"Condominium" shall mean and refer to Gateway Center Condominium as defined and described in the
<br />Declazation. When and used in this Agreement, the term "Common Elements" shall have the meaning
<br />ascribed to it in the Declazation.
<br />In furtherance of the plan of development for the Parking Deck Tract and the Condominium,
<br />there have been or will be constructed on the Parking Deck Tract and the Common Elements certain
<br />culverts, collection lines and pipes, holding or collection tanks and other appurtenant improvements for
<br />the purposes of collecting, holding and discharging storm water from the Parking Deck Tract and the
<br />Condominium. When and as used in this Agreement, the term "Storm Sewer System" shall mean any and
<br />all of the above-described culverts, collection lines and pipes, holding and collection tanks and other
<br />appurtenant improvements located with the reciprocal easements granted and conveyed in Section 2
<br />below.
<br />The parties to this Agreement desire to confirm and memorialize herein the respective easements,
<br />rights, duties and responsibilities of the present and future owners of the Parking Deck Tract and the
<br />Condominium Units with respect to the Storm Sewer System.
<br />AGREEMENT
<br />For and in consideration of the sum of One Dollar ($1.00), the terms, covenants and conditions
<br />set forth below and other good and valuable consideration, the receipt and sufficiency of which are hereby
<br />acknowledged, the parties covenant and agree as follows:
<br />Section 1 Ownershiu. All of the components of the Storm Sewer System located in, under, on
<br />or upon the Parking Deck Tract are and at all times shall be a part of the Parking Deck Tract and shall be
<br />owned by the record owner of the Parking Deck Tract. All of the components of the Storm Sewer System
<br />located in, under, on or upon the Common Elements aze and at all times shall be a part of the Common
<br />Elements and shall be owned by the owners of the Condominium Units as provided in the Declazation.
<br />Section 2 Easements. Subject to the terms, conditions and limitations set forth in this Section and
<br />elsewhere in this Agreement, Telesis, Eno River and Hillsborough Community, for themselves and their
<br />respective successors and assigns, specifically including all future record owners of the Parking Deck Tract
<br />and each of the Condominium Units, hereby grant, bargain, sell and convey to one another and their
<br />respective successors and assigns, and all future record owners of the Parking Deck Tract and each of the
<br />Condominium Units, perpetual, non-exclusive reciprocal easements over and across those parts of the
<br />Parking Deck Tract and the Common Elements identified and described as `m1EW STORM SEWER
<br />EASEMENT" on that certain plat of survey recorded in Plat Book 102, Pages 53 and 54, Orange. County
<br />Registry, exclusive, however, of those areas designated as "STORM EASEMENT NO. l," "STORM
<br />EASEMENT NO. 2A," "STORM EASEMENT N0.2B," "STORM EASEMENT N0.3A" and "STORM
<br />EASEMENT N0.4C" as shown on that certain plat of survey recorded in Plat Book 102, Pages 53 and 54,
<br />Orange County Registry, and also exclusive of that azea designated as "STORM SEWER EASEMENT NO.
<br />D1-A2" as shown on that certain plat of survey recorded in Plat Book 103, Page 71, Orange County Registry,
<br />reference to which plats of survey is hereby made for more a particular description of the location and area of
<br />each such reciprocal easement. The sole and exclusive purposes of the reciprocal easements herein granted
<br />and conveyed to the present and future record owners of the Pazking Deck Tract and each of the
<br />Condominium Units shall be to (a) install and use the culverts, lines, pipes and other components of the
<br />Storm Sewer System for their intended purposes, and (b) maintain, repair and replace the culverts, lines, pipes
<br />and other components of the Storm Sewer System when and as reasonably necessary.
<br />-2-
<br />
|