Agenda - 05-02-1988 - Laserfiche WebLink

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r6)) 1!1:j11A 091 17- _ STATE OF NORTH CAROLINA DECLARATION OF COVENANTS FOR COMMON PROPERTIES WHICH COUNTY OF ORANGE CONSTITUTE COVENANTS RUNNIN; WITH CERTAIN LANDS OF SETTER RUN PROPERTY OWNERS' ASSOCIATION, INC., AND OTHERS IN S1rrrR RUN SUBDIVISION, SECTION II AND PROVISIONS OF SETTER RUN PROPERTY OWNERS' ASSOCIATION, INC. THIS DECLARATION, made this day of , 1988, by SETTER RUN PROPERTY OWNERS' ASSOCIATION, INC., a Nortn Carolina corporation with its principal place of business in Chapel Hill, North Carolina, hereinafter called "Company." WITNESSETH WHEREAS, Company is the owner of the real property described as being: BEING all of Lots 5-14, Setter Run Subdivision, Section II, as shown on plat recorded in Book of Maps , Page Orange County Registry. WHEREAS, the Company desires to create on said property certain recreational facilities more particularly described as Common Properties on the recorded map, for the benefit of said community and for the benefit of all of the lots (tracts) of the subdivision; and WHEREAS, the Company desires to provide for the preservation of the values, amenities and conceptual intent of the said community and for the maintenance of the said Common Properties; and, to this end, desires to subject the said real property above described to the covenants, restrictions, easements, affirmative obligations, charges and liens, hereinafter set forth, each and all of which is and hereby declared to be for the benefit of said property and each and every owner of any and all parts therof; and Company hereby expressly reserves an easement for horse trails as shown on the recorded plat of the subdivision; and WHEREAS, the Company has deemed it desirable for the efficient preservation of the values and amenities in said community to create an • agency to which should be delegated and assigned the power and authority of maintaining and administering the Common Properties and Services and administering the enforcing of the covenants and restrictions governing the same and platted residential lots, and collecting and disbursing all assessments and charges necessary for such maintenance, administration and enforcement, as hereinafter created; and WHEREAS, Company has caused to be incorporated under the laws of the State of North Carolina, as a non-profit corporation, SETTER RUN PROPERTY OWNERS' ASSOCIATION, INC. , for the purpose of exercising the functions aforesaid, and which are hereinafter more fully set forth.