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Agenda 07-08-2025; 7-b - Condominium Agreement and Memorandum of Understanding with the Town of Carrboro for the Operation of the Drakeford Library Complex
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Agenda 07-08-2025; 7-b - Condominium Agreement and Memorandum of Understanding with the Town of Carrboro for the Operation of the Drakeford Library Complex
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BOCC
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7/8/2025
Meeting Type
Business
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Agenda
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7-b
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21 <br /> thereafter. Upon notice to the Association of a violation hereunder and a failure <br /> of the Association to take action upon said violation within 90 days, any Unit <br /> Owner, or other holder of an interest in the condominium may undertake the <br /> enforcement of the provisions of the Declaration at his own expense. <br /> Section 4: Invalidation of any one of these covenants or restrictions by judgment or court <br /> order shall in no way affect any other provisions which shall remain in full force <br /> and effect. <br /> Section 5: The covenants and restrictions of this Declaration shall run with and bind the <br /> land, for a term of twenty (20) years from the date this Declaration is recorded, <br /> after which time they shall be automatically extended for successive periods of <br /> ten (10) years. This Declaration may be amended during the first 20-year period <br /> by an instrument signed by not less than one hundred (100) percent of the Unit <br /> Owners, and thereafter by an instrument signed by not less than one hundred <br /> (100 percent of the Owners. Any amendment must be recorded. For purposes of <br /> an amendment to this Declaration, a Unit Owner shall be entitled to one vote for <br /> each unit owned regardless of the percentage of allocated interest associated with <br /> the ownership of the Unit. <br /> Section 6: The fiscal year of the Association shall begin on the first day of January and end <br /> the 31st day of December of each year, except that the first fiscal year shall <br /> begin on the date of recording this Declaration. <br /> IN WITNESS WHEREOF, Declarant of this Declaration has caused this instrument to <br /> be executed in its name as s duly by County and Town, this day of , 2025. <br /> SIGNATURE PAGE TO FOLLOW <br /> 19 <br />
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