Agenda - 06-11-1985 - Laserfiche WebLink

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• • ARTICLE • PROPERTIES SUBJECT TO THIS DECLARATION Section One. The property which shall be held, trans- ferred, sold, conveyed and occupied subject to this Declaration is located in Orange County, North Carolina, as more partiqular- ly described on Exhibit A attached hereto and incorporated herein by reference. Section Two Declarant may convey from time to time a Lot within the boundaries of the property described on Exhibit A to a Construction contractor for the purpose of erecting single- family homes on the Lot so conveyed. The construction contrac- tor, as soon as is practical, shall commence construction of the single-family homes and cause a survey reflecting the precise location of said homes to be recorded in orange County Registry. ARTICLE II DEFINITIONS Section One "Association" shall mean and refer to Chandler's Green Subdivision, Ltd., its successors and assigns. Section Two "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any Lot which is a part of the Properties, including contract sellers, but excluding those having any interest merely as security for the performance of an obligation. Section Three. "Properties" shall mean and refer to that certain real property hereinbefore described, and such additions thereto as may hereafter be brought within the juris- • diction of the Association. Section Four "Common Area(s)" shall mean all proper- ty owned by the Association, or such other property which the Association may hold subject to the provisions of the Declara- tion. Common Areas shall be defined and bounded on the plat(s) of Chandler's Green Subdivision, Ltd., and amendments thereof and designated thereon as "Common Areas" or "common Open Space". Common Areas shall be conveyed to the Association free and clear of encumbrances prior to deeding the first Lot in the subdivi sion. -2-