HomeMy WebLinkAboutDeclaration of Recovable Covenant, Farmhouse Partners - College Limited Partners - 2002
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DECLARATION OF REVOCABLE COVENANT J
THIS REVOCABLE DECLARATION OF COVENANT is made effective thi)~ d~y
of August, 2002 by and between Fannhouse Partners - College Limited Partners, a Montana
limited partnership, hereinafter referred to as "Declarant" and CITY OF BOZEMAN, hereinafter
referred to as "City."
1. Purpose. Declarant is the owner of certain real property located in Gallatin
County, Montana, more specifically described as follows ("Property"):
A Tract ofland located within the SE1;4 of Section 11, Township 2 South, Range 5
West, principal meridian Montana, City of Bozeman, Gallatin County, Montana,
being further described as follows:
Commencing at the South Quarter corner of said Section 11. Thence North
0015'0" East along the West line of said Southeast Quarter, a distance of 175.42
feet to the true point of beginning. Thence continuing North 0015'0" East along
the West line of said Southeast Quarter, a distance of 175.93 feet. Thence North
89043'0" West, a distance of 164.83 feet. Thence South 0005'0" West along the
East line of said Tract 1, a distance of 175.93 feet. Thence South 89043'0" West,
a distance of 165.31 feet to the true point of beginning. [Deed Reference: Film
151, page 2473]
2. Declaration. Declarant hereby makes of public record and declares that the
Property, and any part thereof, shall be owned, sold, conveyed, encumbered, leased, used,
occupied and developed subject to the following covenants, conditions and restrictions, which
are sometimes referred to herein as the "Covenants." The Covenant will run with the Property,
and shall be binding upon all parties or persons acquiring any legal or equitable interest in or title
to the Property and shall inure to the benefit of every owner of any part of the Property, subject
to the provisions of~4 below.
NOW, THEREFORE, Declarant establishes and declares the following:
3. Development and Restrictions. All development and use of the Property shall
conform to the following requirements:
A. The Property is necessary for development of the 44 unit affordable
housing project on the adjoining property owned by Declarant in Lot 5, Block 2 Triangle Area
Annexation to Bozeman, Gallatin County, Montana.
B. Declarant agrees that it will not sell the Property or allow development or
improvement of the Property except for infrastructure and ancillary buildings such as storage
units associated with the affordable housing project units constructed on Declarant's adjoining
property.
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4. Revocable Nature. The Declarant and the City of Bozeman agree and
acknowledge that at such time as the City of Bozeman Zoning Ordinances are amended to allow
for more than fifteen (15) dwelling units per net acre of property without a Planned Unit
Development, this Declaration shall be revoked in its entirety.
5. Execution of Documents. Declarant and the City of Bozeman agree and
acknowledge that at such time as the provisions of~4 above become applicable, Declarant and
an authorized representative of the City of Bozeman will execute any and all documents required
to terminate this Declaration. Such termination document shall be recorded with the Gallatin
County Clerk & Recorder.
6. Enforcement and Costs.
A. In the event of any violation or threatened violation of this Declaration,
the affected entity may enforce this Declaration by legal proceedings in a court of law for equity,
including the seeking of injunctive relief or damages.
B. Actual costs, expenses and reasonable attorney's fees connected with any
such enforcement action, incurred either through litigation or prior to litigation, shall constitute a
claim by the prevailing party against the non prevailing party. Such claims shall be enforceable
through appropriate court or legal action.
7. Duration of Covenant. All of the covenants, conditions and restrictions set forth
herein shall continue and remain in full force and effect until the occurrence of the events
detailed in ~4 above, at which point the Declaration shall be revoked.
8. Severability. Any decision by a court of competent jurisdiction invalidating any
part or paragraph of this Covenant shall be limited to the part or paragraph affected by the
decision of the court and remaining paragraphs in the Covenant, conditions and restrictions
herein set forth shall r4n in full force and effect.
Dated thiJ..;- ..... day of August, 2002.
DECLARANT:
Farmhouse Partners - College Limited Partnership
By: Farmhouse Partners Limited Partnership
By:
William C. abney
Title: President
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STATE OF MONTANA
County of Gallatin
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On this d:J.- day of : - ,2002, before me, a notary public in and for said State,
personally appeared WILLIAM C. ABNEY, III, on behalf of Farmhouse Partners Limited
Partnership, known to me to be the representative ofthe General Partner of Farmhouse Partners.
College Limited Partnership, the Limited Partnership, that executed this document, and
acknowledged to me that such limited partnership executed the same,
IN WITNESS WHEREOF, I have hereunto set my hand and seal the date first above written.
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CITY OF BOZEMAN
By:
Title:
STATE OF MONTANA
County of Gallatin
On this day of , 2002, before me, a notary public in and for said
State, personally appeared , known to me to be the person
who subscribed this document, and acknowledged to me the execution of this document.
IN WITNESS WHEREOF, I have hereunto set my hand and seal the date first above
written,
Notary Public for the State of Montana
Printed Name
(SEAL) Residing at:
My commission expires:
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