HomeMy WebLinkAbout027 Condo DeclarationAfter recording return to:
Griffith & Cummings PC
P.O. Box 160748
Big Sky, Montana 59716
PRELIMINARY
DECLARATION
FOR THE
LOFTS ON BEALL CONDOMINIUMS
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Preliminary Declaration for the Lofts on Beall Condominiums
TABLE OF CONTENTS
Article 1 - DEFINITIONS 7
1.1 Act 7
1.2 Articles 7
1.3 Assessments 7
1.4 Association 7
1.5 Board 7
1.6 Building 7
1.7 Bylaws 7
1.8 Common Elements 7
1.9 Common Expenses 9
1.10 Community Association 9
1.11 Community Association Governing Documents 9
1.12 Construction Activity 9
1.13 Declaration 9
1.14 Design Guidelines 9
1.15 Driveway 9
1.16 Eligible Holder 9
1.17 Function 9
1.18 Good Standing 10
1.19 Governing Documents 10
1.20 Insurance Trustee 10
1.21 Limited Expenses 10
1.22 Manager 10
1.23 MCA 10
1.24 Percentage of Interest 10
1.25 Permitted Household Pets:10
1.26 Person 10
1.27 Plans 10
1.28 Project 10
1.29 Property 10
1.30 Public Record 10
1.31 Reserve Assessments 10
1.32 Roadway 11
1.33 Rules and Regulations 11
1.34 Site Plan 11
1.35 Unit(s)11
1.36 Unit Designation 11
1.37 Unit Owner or Owner 11
1.38 Unit Ownership Act 11
1.39 Zoning Regulation 11
Article 2 - REAL ESTATE 11
2.1 Purpose 11
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Preliminary Declaration for the Lofts on Beall Condominiums
2.2 Real Property and Certificate of Exemption 11
2.3 Certificate of Subdivision Plat Approval 11
2.4 Project 12
2.5 Access to the Project 12
2.6 Site Plan 12
2.7 Buildings 12
2.8 Construction Materials 12
2.9 Floor Plans 12
2.10 Boundaries of Units 12
2.11 Condominium Unit 13
2.12 Ownership of Units 13
Article 3 - EASEMENTS 13
3.1 Easements for Encroachments 13
3.2 Common Element Easements 13
3.3 Easement for Utilities Within Units 14
3.4 Easements for Public Utilities 14
3.5 Grant of Easements by Association 15
3.6 Easements for Maintenance, Repair, and Replacement 15
3.7 Site Plan or Service Easements 15
3.8 Structural Easements and Interior Remodeling.15
3.9 Specific Written Easements 16
3.10 Right of Access to the Interior of Units 16
Article 4 - THE ASSOCIATION 16
4.1 Association 16
4.2 Board of Directors 16
4.3 Rights of Association 17
4.4 Association Responsibilities 19
Article 5 - MEMBERSHIP 21
5.1 Regular Membership; Appurtenant Rights.21
Article 6 - FINANCES 23
6.1 Budget 23
6.2 Assessments 24
Article 7 - USE RESTRICTIONS 29
7.1 Common Elements 29
7.2 Use 30
7.3 Alterations 30
7.4 Leasing 31
7.5 Restriction on Number of Occupants per Unit 33
7.6 Restriction on Number of Units Owned by One Owner 33
7.7 Home Occupation 33
7.8 Activities 34
7.9 Animals 34
7.10 Aesthetics 35
7.11 Trash 35
7.12 Advertising and Signage 35
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Preliminary Declaration for the Lofts on Beall Condominiums
7.13 Hot Tubs 36
7.14 Parking 36
7.15 Lights 36
7.16 Marijuana 36
7.17 Satellite Dishes/Antennas 36
7.18 Handicapped Rights 36
7.19 Water & Sewer System 37
Article 8 - INSURANCE 38
8.1 Association Policies 38
8.2 Coverage 38
8.3 Claims Against the Association’s Insurance Policies 40
8.4 Premiums and Deductibles 40
8.5 Policy Requirements 40
8.6 Waiver of Subrogation and Endorsements 41
8.7 Insurance Trustee 42
8.8 Unit Owners’ Insurance 42
8.9 Distribution of Proceeds 43
8.10 Board as Agent 44
8.11 Benefit to Mortgagees 44
8.12 Notice to Lienholder 44
8.13 Reconstruction 44
8.14 Condemnation.46
Article 9 - MORTGAGEE PROVISIONS 47
9.1 Notice of Action.47
Article 10 - REMOVAL, PARTITION, AND SUBDIVISION 47
10.1 Board Approval 47
10.2 Member Approval 48
10.3 Division of Units 48
10.4 Common Elements 48
10.5 Removal or Partition - Subdivision 48
Article 11 - DECLARANT'S RIGHTS 48
11.1 Changes to Project 48
11.2 Timeframe for Completion 49
11.3 Assessments 49
11.4 Assignment 49
Article 12 - ENFORCEMENT AND REMEDIES 49
12.1 Procedure 49
12.2 Discretion 50
12.3 Costs of Enforcement 50
12.4 Delegation 50
12.5 Remedies Cumulative 51
12.6 Joint and Several Liability 51
Article 13 - AMENDMENT 51
13.1 Amendment By Decalarant 51
13.2 Amendment By Board 51
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13.3 Amendment By Owners 52
13.4 Power of Attorney 52
13.5 Annexation 51
13.6 Withdrawal 52
13.7 Plat Amendment 52
13.8 Merger or Consolidation 53
13.9 Agreement Regarding Amendments 53
13.10 Recording of Amendment 53
Article 14 - ANNEXATION, WITHDRAWAL AND REPLATTING OF PROPERTY 53
14.1 Annexation without Approval of Membership 53
14.2 Annexation with Approval of Membership 54
14.3 Withdrawal of Property 54
14.4 Replatting 54
Article 15 -CERTAIN OTHER RESTRICTIONS AND RIGHTS RESERVED TO
DEVELOPER 55
15.1 Fractional Ownership 55
15.2 Leasing 55
15.3 Other Rights 55
Article 16 - INTERPRETATION 55
16.1 Liberal Construction 55
16.2 Interpretation of Governing Documents 55
Article 17 - SEVERABILITY 56
Article 18 - MISCELLANEOUS 56
18.1 Benefit 56
18.2 Binding Effect 56
18.3 Service of Process 56
18.4 Notices 56
18.5 Sale Disclosures 56
18.6 Gender 56
18.7 Conflicts 56
EXHIBIT A-1 – LEGAL DESCRIPTION OF PROPERTY 60
EXHIBIT A-2 – COUNTY EXEMPTION CERTIFICATE 61
EXHIBIT B – CERTIFICATE OF NAME 62
EXHIBIT C – SITE PLAN 63
EXHIBIT D – CONSTRUCTION MATERIALS 64
EXHIBIT E-1 -- FLOOR PLANS & CERTIFICATE OF FLOOR PLANS (BUILDING A)65
EXHIBIT E-2 -- FLOOR PLANS & CERTIFICATE OF FLOOR PLANS (BUILDING B)66
EXHIBIT E-3 -- FLOOR PLANS & CERTIFICATE OF FLOOR PLANS (BUILDING C)67
EXHIBIT F – UNIT DESIGNATION AND PERCENTAGE OF INTEREST 68
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Preliminary Declaration for the Lofts on Beall Condominiums
DECLARATION FOR THE LOFTS ON BEALL CONDOMINIUMS
RECITALS
The foregoing recitals are incorporated into this Declaration as if fully recited herein.
This PRELIMINARY DECLARATION is hereby made and entered in this _______day of
_______,20__by DCI FINANCIAL,LLC.,a Texas limited liability company referred to
herein as “Declarant(s),”whereby lands and property hereinafter described are submitted and
subject to the Montana Unit Ownership Act pursuant to Chapter 23,Title 70,MCA 2003,as
amended.
The property subject to this Declaration shall be known as the LOFTS ON BEALL
CONDOMINIUMS.(hereinafter referred to as the “Condominium,Property or Project”).The
Condominium is located at Bozeman, Gallatin County, Montana.
NOW,THEREFORE,Declarant hereby declares that the Project and the property in each
subsequent phase to the extent it becomes developed as described herein shall be held,
conveyed,mortgaged,encumbered,leased,rented,used,occupied,sold,and improved subject
to the declarations,limitations,covenants,conditions,restrictions,and easements contained in
this Declaration,all of which are imposed as equitable servitudes pursuant to a general plan for
the development of the Project for the purpose of enhancing and protecting the value and
attractiveness of the Project,and every part of it,in accordance with the plan for the
improvements of the Project and its division into Condominiums.All of the limitations,
covenants,conditions,restrictions and easements shall constitute covenants that run with the
land and are binding upon,and inure to the benefit of,Declarant,the Association,and all parties
having or acquiring any right,title,or interest in or to any part of the Project or the Property in
the Project.
This Declaration shall apply to all the real property and improvements placed or constructed
thereon and shall be in existence in perpetuity unless amended or terminated by operation of law.
In the event any provision of this Declaration is judged to be invalid or unenforceable,the
remaining provisions shall remain in full force and effect.
Article 1 -DEFINITIONS
Unless the context expressly provides otherwise,the following definitions shall pertain
throughout this Declaration and in the interpretation thereof:
1.1 Act:Act means the Montana Nonprofit Corporation Act,§35-2-113 et seq.,MCA,as
amended.
1.2 Articles:means the Articles of Incorporation of the Association,as the same may be
amended, restated or replaced from time to time.
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Preliminary Declaration for the Lofts on Beall Condominiums
1.3 Assessments:collectively refers to all assessments as set forth in Article 7 below.
1.4 Association:means all of the Unit Owners acting as a group and in accordance with duly
adopted Bylaws and this Declaration,also referred to the Lofts on Beall Condominium
Owner’s Association, Inc. a Montana nonprofit corporation, and any successor thereto.
1.5 Board:means the Board of Directors of the Association as more particularly defined in
the Bylaws.
1.6 Building: means a structure containing Units.
1.7 Bylaws:means the Bylaws of the Association recorded on the _____day of
________________________,20_____,as Document No._____________________,
records of Gallatin County,Montana,as such may be amended,restated or replaced from
time to time.
1.8 Common Elements:means both General Common Elements and Limited Common
Elements.For the avoidance of doubt,the Common Elements do not include the Units or
any portion thereof.
(a)General Common Elements:means all those elements within the Project which
are for the use of all Unit Owners and their guests and invitees (some may be
designated as “GCE”on the floor plans or site plan).The Association may add or
delete General Common Elements by amendments to this Declaration and/or by
the method set forth in the Unit Ownership Act.The General Common Elements
include,but are not limited to,the following to the extent not within a Unit and
not otherwise designated as a Limited Common Element:
(i)the land on which the Buildings are located,except any portion thereof
included in a Unit or made a Limited Common Element by this
Declaration or amendment hereto;
(ii)the foundations,columns,girders,beams,supports,main walls,roofs and
other structural components of the Buildings stairs,entrances and exits of
Buildings, and siding and other exterior surfaces of the Buildings;
(iii)the sidewalks,parking,right-of-way improvements,landscaping,paths
and other improvements or fixtures on the Property;
(iv)installations of central services existing for common use of all Units
within the Building such as power,light,solar,gas,television,telephone,
sewer, and other utilities and connections to the extent serving all Units.
(v)public utility lines,water,sewer,electrical,gas,telephone and television
lines,and similar infrastructure and facilities to the extent serving all Units
or all Units within a Building,except those utility lines that are required
pursuant to separate agreement to be maintained by the public utility;
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Preliminary Declaration for the Lofts on Beall Condominiums
(vi)the tanks,pumps,motors,fans,compressors,ducts and in general all
apparatus and installations existing for common use of all Units or of all
Units within a Building;
(vii)any facilities and improvements constructed on the Property for operation
and maintenance of the Project or use by all Unit Owners; and
(viii)landscaping,landscape and development lighting,security lighting,
Project signage and signage lighting (if installed),other materials and
improvements separate from and outside of the Units,and other elements
necessary for or convenient to the safety,maintenance and existence of the
Project.
(b)Limited Common Elements:means those Common Elements within the Project
designated in this Declaration,site plan,or floor plans (some may be designated
as “LCE”on the floor plans or site plan)or by agreement of the Unit Owners
which are reserved for the use of a certain Unit or number of Units to the
exclusion of the other Units.Specifically,as to any given Unit,Limited Common
Elements shall include,but not be limited to,the following common elements
which are outside the boundaries of the Unit and which are appurtenant to,affixed
to or provide service or access to the Unit:
(i)Driveways,fenced front yards,fenced rear yards,stoops,decks,porches,
terraces, decks and patios;
(ii)any other improvement,facility or item described in the definition of
General Common Elements to the extent the Board,reasonably determines
that such improvement,facility or item should equitably be treated a
Limited Common Element for purposes of this Declaration.
1.9 Common Expenses:means expenses of administration,maintenance,repair or
replacement of General Common Elements,expenses of administration,maintenance,
repair or replacement of those Limited Common Elements that the Board votes to treat as
General Common Elements,and all other expenses agreed upon by the Association of all
Owners,and expenses declared common by the Unit Ownership Act.Such expenses
shall include dues payable to the Association,and any reserve established by the Board to
the extent relating to the General Common Elements,the Limited Common Elements for
which the Association is responsible.
1.10 Governing Documents:means collectively the Articles of Incorporation,Declaration,
Bylaws,and Rules and Regulations of Lofts on Beall Condominiums,as the same may be
amended, restated or replaced from time to time.
1.11 Construction Activity:means any site preparation,landscaping,sign erection,
construction,reconstruction,change,modification,alteration,enlargement or material
maintenance of any improvements or real property,or any physical changes in the use of
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Preliminary Declaration for the Lofts on Beall Condominiums
any Unit or other property or building or structure thereon, interior or exterior.
1.12 Declarant: means DCI Financial, LLC and it’s successors and assigns.
1.13 Declaration: means this document.
1.14 Design Guidelines:means any Rules and Regulations adopted by the Board for the
regulation and management of the Property or any portion thereof.
1.15 Driveway:means,with respect to each Building,those Limited Common Elements used
for ingress and egress between a Roadway and the Building serving one or more Units.
1.16 Eligible Holder:has the meaning given in Article 9 - Mortgagee Provisions.
1.17 Function:means any activity,function or service listed in this Declaration which is
required to be or may be undertaken or performed by the Association as well as any
activity, function or service otherwise undertaken or performed by the Association.
1.18 Good Standing:means that a Member is current on the payment of such Member’s
Assessments,is not deemed by the Board to be in violation of the Governing Documents
and is current on any other payments deemed by the Board to be due and owing to the
Association.
1.19 Governing Documents:means this Declaration,the Articles,the Bylaws,any Rules and
Regulations and any and all other documents necessary for the formation of the Project,
including,but not limited to,any surveys,plats,or site plans as the same may be
amended, restated or replaced from time to time.
1.20 Insurance Trustee: has the meaning given in Section 8.7.
1.21 Limited Expenses:means the expenses attributable to the construction,administration,
operation,maintenance,repair and replacement of Limited Common Elements,including
any expenses incurred by the Association,and are expenses only for owners of units
within the respective building for which the expenses are accrued,unless otherwise
determined by the Board.
1.22 Manager:means the Board,a manager,a management corporation or any other person or
group of persons retained or appointed by the Board,or by the Association,for the
purpose of conducting the day-to-day operations of the Project.
1.23 MCA:means the Montana Code Annotated 2019 and any subsequent amendments.
1.24 Percentage of Interest:means each Unit Owner’s undivided interest in the Common
Elements and such Unit Owner’s pro rata liability to the Association.The Percentage of
Interest with respect to each Unit is specified on Exhibit F attached hereto.
1.25 Permitted Household Pets:has the meaning given in Section 7.9.
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1.26 Person:means any natural person,corporation,partnership,limited liability company,
association, trust, or any other legal entity.
1.27 Plans: has the meaning given in Section 2.9.
1.28 Project:means the Property and all buildings,improvements and structures thereon and
all easements,rights and appurtenances belonging thereto,which are herewith submitted
to the Unit Ownership Act.
1.29 Property:means the real property located in Gallatin County,Montana and described on
Exhibit A attached hereto,along with any property subsequently annexed or otherwise
subjected to this Declaration.
1.30 Public Record:means the office of the Clerk and Recorder of Gallatin County where
land records are recorded or filed.
1.31 Reserve Assessments: has the meaning given in Section 6.2(a)(ii).
1.32 Roadway:means a street or roadway (but excluding driveways)within the Property or a
street or roadway providing primary or secondary access to the Property.
1.33 Rules and Regulations:means the specific rules,regulations and policies that may be
adopted by the Board from time to time for governance and management of the Project or
any portion thereof, as the same may be amended from time to time.
1.34 Site Plan: has the meaning given in Section 2.6.
1.35 Storage Units:means the general common element storage facilities outside of the
Buildings that may be used as the Board determines in its Rules and Regulations.
1.36 Unit(s):means the separate condominium units of the Project that are built each of which
is a parcel of property including and containing one or more rooms,intended for
independent residential use,and with a direct exit leading to a public street or to Common
Elements leading to a public street whether directly or indirectly by way of an easement
or private street or way connecting to a public street.In this Declaration such Units refer
to those Units which are designated on Exhibit F.
1.37 Unit Designation:means the combination of letters,numbers and words which identify
the designated Units.
1.38 Unit Owner or Owner:means the person owning a Unit in fee simple absolute
individually or as co-owner in any real estate tenancy relationship recognized under the
laws of the State of Montana.Each Unit has only one owner for any voting purposes
described herein.
1.39 Unit Ownership Act:means and refers to the Montana Unit Ownership Act,Section
70-23-101,et seq., MCA (2019), as amended.
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1.40 Zoning Regulation: means the regulations adopted by Gallatin County, Montana.
Article 2 -REAL ESTATE
2.1 Purpose.The purpose of this Declaration is to divide the Property into Units by
submitting the Property and those improvements that exist and to be constructed on the
Property to the condominium form of ownership and use in the manner provided by the
Unit Ownership Act.
2.2 Real Property and Certificate of Exemption.The Property which is by this
Declaration submitted and subject to the Unit Ownership Act is legally described in
Exhibit A-1.The division of property is exempt from subdivision review as evidenced
by the Certificate of Exemption from Subdivision Review attached as Exhibit A-2.
2.3 Certificate of Subdivision Plat Approval.This Project has received a Certificate of
Subdivision Plat Approval for the real property for use of two (2)Buildings and eleven
(11)units as recorded on [INSERT DATE]as Document No.[INSERT INFORMATION]
in the office of the Clerk and Recorder, Gallatin County, Montana.
2.4 Project.The Project shall be known by the name Lofts on Beall Condominiums.The
Certificate of Name is attached hereto as Exhibit B.The Project is established in
accordance with the Unit Ownership Act.
2.5 Access to the Project.Access to the Project to and from Beall Street referred to as “The
Common Road.”Unit Owners,by purchasing and owning Units within the Project,agree
that they will waive their right to protest the creation of a special improvement district
(SID) for the maintenance of the Common Roads.
2.6 Site Plan.The site plan of the Project showing the Buildings and Units,as well as,the
dimensions and the designation of each Unit in relation to the Property (“Site Plan”)is
attached hereto as Exhibit C.
2.7 Buildings.The Units comprising the condominium will be contained in a total of two (2)
buildings, as specified in Exhibit F.
2.8 Construction Materials.The principal materials of construction of the Buildings are
described on Exhibit D attached hereto.
2.9 Floor Plans.The floor plans showing the layout of each Unit,the area of each,the
dimensions and the designation of each Unit and the location of each Unit in the
Building,the elevations of the Building and showing the common areas or Limited
Common Elements contained within or attached to the Building and the respective
certificates of floor plans are attached hereto as Exhibit E.
2.10 Boundaries of Units.
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A.Unit:Each Unit shall be bounded by the interior surfaces of its perimeter
walls,floors,suspended ceilings,and trim.A Unit shall include all lath,
furring,wallboard,plasterboard,plaster,paneling,tiles,paint,finished
flooring,unfinished flooring of a garage,and any other materials constituting
any part of its finished surfaces,including unit access door(s),so described.
All other portions of the walls,floors,or ceilings shall be a part of the
Common Elements.In addition,each Unit shall include the following:(a)all
spaces,interior partitions,windows,window frames,interior doors,door
frames,and all other fixtures and improvements within the boundaries of the
Unit,and (b)all outlets of utility service lines,including,but not limited to,
power,light,gas,hot and cold water,heating,refrigeration,air conditioning,
and waste disposal within the boundaries of the Unit,but shall not include any
part of such lines or ducts themselves.In interpreting deeds,mortgages,deeds
of trust,and other instruments for any purpose whatsoever or in connection
with any matter,the existing physical boundaries of the Unit or of a Unit
reconstructed in substantial accordance with the original plans hereof shall be
conclusively presumed to be the boundaries regardless of settling,rising,or
lateral movement of the Building and regardless of variances between
boundaries as shown on the plat and those of the actual Building or Buildings.
B.Perimetrical Boundaries of the Units.The perimetrical boundaries of the
Units shall be the following boundaries extended to an intersection with the
upper and lower boundaries:
(a)Exterior Building Walls.The plane formed by the centerline of the
exterior walls of the buildings except that such boundary shall be extended
so as to include within it all windows in the Unit.
(b)Interior Building Walls.The Vertical planes of the centerline of the
exterior walls between the Units extended to an intersection with the other
perimetrical boundaries.
2.11 Condominium Unit.Each Unit,together with the appurtenant undivided interest in the
Common Elements of the Project shall together comprise one Unit,shall be inseparable,
and may be conveyed,leased,rented devised or encumbered as a fee simple interest in a
parcel of real property.Included in all Units,as a part of each Unit,are the garages
appurtenant to such Unit.
2.12 Ownership of Units.Each Owner shall be entitled to the exclusive ownership,use and
possessions of his Unit and the percentage of the undivided interest of each Owner in the
Common Elements as set forth in Exhibit F.Such percentage represents the Owner’s
ownership interest in the general common elements,and Owner’s liability for common
expenses,and the voting interest of the Owner or Owners in all matters concerning the
Association of Owners.
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Article 3 -EASEMENTS
3.1 Easements for Encroachments.Easements for Encroachments.If any portion of the
General Common Elements or Limited Common Elements encroaches upon a Unit or
Units,a valid easement for the encroachment and for the maintenance of the same,so
long as it stands,shall and does exist.If any portion of a Unit encroaches upon the
General Common Elements or Limited Common Elements,or upon an adjoining Unit or
Units,a valid easement for the encroachment and for the maintenance of the same,so
long as it stands,shall and does exist.Such encroachments and easements shall not be
considered or determined to be encumbrances either on the General Common Elements,
the Limited Common Elements,or on the Units for the purpose of marketability of title.
In the event a Building or any portion thereof is destroyed and then rebuilt,the Owners
agree that minor encroachments of parts of the General Common Elements or Limited
Common Elements because of such construction shall be permitted and that an easement
for such encroachment and the maintenance and repair of the same shall and does exist.
3.2 Common Element Easements.A perpetual,nonexclusive easement and right of ingress
and egress and support through the General Common Elements is appurtenant to each
Unit for the benefit of each Owner and all the General Common Elements are subject to
such rights.Every Owner shall have the right to use and enjoy the Limited Common
Elements appurtenant to such Owner’s Unit.The foregoing easements and rights are
subject to the limitations and restrictions set forth in this Declaration and the other
Governing Documents.
3.3 Easement for Utilities Within Units.Each Unit may have its air space penetrated by
electrical wires and lines,gas lines,wastewater lines and other utility and mechanical
lines,pipes or equipment.These lines,where they serve only one Unit shall be
appurtenant to such Unit,but where they serve more than one Unit shall be part of the
Common Elements –either limited or general depending on how many Units are being
served thereby.Such items shall be so installed and maintained so that they shall not
unreasonably interfere with the use of the Unit by the Owners of the same.A
non-exclusive easement shall exist through,over and across each Unit for the use,
inspection,installation,maintenance,replacement and repair of such utility lines for the
use of all of the Owners or the Owners being serviced by the air space being penetrated
by such lines and/or equipment.After completion of construction of build out of a Unit
an easement for ingress and egress for the purpose of such inspection,installation,
maintenance,replacement or repair of such easement rights shall only be exercised under
the direction and approval and with the authority of the Association and/or the Manager
unless an emergency exists in which event any action may reasonably be taken which is
justified under the circumstances to minimize damage which could otherwise occur as a
consequence of such emergency.There shall be easements to,through and over those
portions of the land,structures,buildings,improvements and walls (including interior
building walls)contained therein for the continuing maintenance and repair of all utilities
in the Building.The foregoing easements are all permanently reserved to the Declarant,
the Association and the Owners.In the event the Board or the Manager must enter or
cause to have an agent enter a Unit for such reasons as listed above,other than
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emergency,The Board or Manager must provide at least one week notice to the Owner or
the Owner’s agent or lessee.Notice can be provided either in writing,facsimile,
electronic mail,or posting.Upon entering the Unit,the Board member or Manager shall
provide documentation of their entry through written notification left at the premises of
the time, date and work done in the Unit.
3.4 Easements for Public Utilities.There are hereby reserved unto the Association,and its
designees access and maintenance easements upon,across,over,and under all the
General Common Elements (provided that such access may not be across,over or under
any Building)to the extent reasonably necessary for the purpose of installing,replacing,
repairing,and maintaining security and similar systems,roads,walkways,bicycle
pathways,drainage systems,street lights,signage,wells,drainfields,and all utilities,
including,but not limited to,water,sewer,meter boxes,telephone,solar,gas,and
electricity,and for the purpose of installing any of the foregoing within easements
designated for such purposes on recorded plats of the Property.The Board specifically
reserves unto itself the right to convey to the local water and sewer district,electric
company,natural gas supplier,or communications systems supplier easements across the
General Common Elements (provided that such easements may not be across,over or
under any Building or other structures or buildings)for ingress,egress,installation,
reading,replacing,repairing,and maintaining utility meters and boxes.The exercise of
this easement shall not extend to permitting entry into any Unit,nor shall any utilities or
improvements be installed or relocated on the Property, except as approved by the Board.
Should any entity furnishing a service covered by the general easement herein provided
request a specific easement by separate recordable document,the Board shall have the
right to grant such easement over any portion of the Property without conflicting with the
terms hereof.
3.5 Grant of Easements by Association.The Board shall be empowered and obligated to
grant such easements,licenses,rights-of-entry and rights-of-way over,under and across
the Property for utility purposes,access purposes or other lawful purposes as may be
necessary for the benefit of the Condominium.The Board shall also have the power to
grant such easements through the General Common Elements for utilities that may serve
less than all Units.
3.6 Easements for Maintenance,Repair,and Replacement.The Board,and all public or
private utilities shall have such easements over,under,across and through the Property,
including all Units and Common Elements,as may be necessary to fulfill any
responsibilities of maintenance,repair,or replacements which they or any of them are
required or permitted to perform under this Declaration or Bylaws of the Association or
by law.These easements include,without any implication of limitation,the right of the
Association to obtain access at all times to meters,controls,valves,pipes,conduits,and
other Common Elements located within or to which access may be gained through any
Unit or to its appurtenant Limited Common Elements.In the event the Board and/or the
Manager must enter or cause to have an agent enter a Unit for such reasons as listed
above it shall be done in accordance with Section 3.10 below.
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Preliminary Declaration for the Lofts on Beall Condominiums
3.7 Site Plan or Service Easements.
(a)The Project shall be subject to all easements as shown on the Site Plan and to any
other easements of record or of use.In addition,the Project is subject to all
easements created by this Declaration.Each Owner by accepting a deed to a Unit,
agrees for themselves and their invitees and successors and assigns,to be subject
to such easements and the Rules and Regulations from time to time in effect
governing the use of such easement areas.
(b)The Owners hereby grant a non-exclusive perpetual easement across and over the
Project for ingress and egress to all police,sheriff,fire protection,ambulance and
similar emergency agencies or persons,now or hereafter serving the Project,to
enter the Project in the performance of their duties,subject,however,to
limitations generally imposed by local, state and federal law.
3.8 Structural Easements and Interior Remodeling.Every portion of a Unit which
contributes to the structural support of the Building,other Units or the Common Elements
shall be burdened with an easement of structural support for the benefit of the Building,
Common Elements and other Units.Each Owner shall have the exclusive right to paint,
repair,tile wallpaper,panel,carpet,brick or otherwise maintain,refinish and decorate the
inner surfaces of the walls,ceilings,floors,windows and doors bounding his own Unit,
and the interior thereof,so long as such work does not affect the structural integrity of the
building.
3.9 Specific Written Easements.The Association may,in its sole discretion without the
necessity of consent by any interested party,prepare and record a subsequent instrument
to specifically define by legal description the easements created by or in accordance with
this Article.Nothing in this paragraph shall be construed to give Declarant the right to
create easements not otherwise created by or in accordance with this Article.The
easements provided for in this Article shall in no way adversely affect any other recorded
easement on the Property.
3.10 Right of Access to the Interior of Units.The Association shall have the irrevocable
right,to be exercised by the Board or the Manager,of access to each Unit from time to
time during reasonable working hours as may be necessary for the maintenance,repair or
replacement of any of the Limited Common Elements therein or accessible therefrom or
for making emergency repairs therein necessary for the maintenance repair or
replacement of any of the Limited Common Elements therein necessary to prevent
damage to the General or Limited Common Elements or to any Unit.It shall be the
responsibility of each Owner to provide the Association or its Manager with means of
access to their Unit.
(a)Damage to the interior or any part of the Unit resulting from maintenance,repair
emergency repair or replacement of any of the General or Limited Common
Elements or as a result of an emergency repair within another Unit at the instance
of the Association shall be designated a Common Expense by the Association and
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Preliminary Declaration for the Lofts on Beall Condominiums
assessed in accordance with such designation.
(b)In the event the Board or the Manager must enter or cause to have an agent enter a
Unit for such reasons as listed above other than emergency must provide at least
one week notice to the Owner or the Owner’s agent or lessee.Notice can be
provided either in writing,facsimile,electronic mail,or posting.Upon entering
the Unit,the Board member or Manager shall provide documentation of their
entry through written notification left at the premises of the time,date and work
done in the Unit.
Article 4 -THE ASSOCIATION
4.1 Association.The Project is governed by Lofts on Beall Condominium Owner’s
Association,Inc.a non-profit corporation formed with the Montana Secretary of State,
hereinafter referred to as the Association.
4.2 Board of Directors.
(a)Number and Qualifications.The business and affairs of the Association shall be
managed by a Board of not less than three (3)and not more than five (5)directors.
Directors are required to be Members of the Association.
(b)Tenure.There is no limit as to the number of consecutive terms that a director
may be elected or appointed.
(c)Election of Directors.Directors shall be elected as set forth in the Bylaws.
4.3 Rights of Association.The Association,by and through its duly elected Board of
Directors,shall have and may exercise any right or privilege given to it expressly by the
Governing Documents or reasonably implied from or reasonably necessary to effectuate
any such right or privilege.Except as otherwise specifically provided in the Governing
Documents or by law,all rights and powers of the Association may be exercised by the
Board without a vote of the Members.The powers and rights of the Association include,
but are not limited to, the right to:
(a)adopt Bylaws for the governance of the Association;
(b)make provisions for the general management,repairs and maintenance of the
General Common Elements,Limited Common Elements,and any other
provisions for the benefit of the Association.The Association in conformance
with this Declaration,has the right to treat Limited Common Elements as General
Common Elements for the purpose of funding repairs and maintenance and the
right to repair and maintain limited common elements;
(c)enter into agreements with adjacent owners’associations and expend Association
funds for the maintenance of Common Roads,snow removal,and the storage and
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Preliminary Declaration for the Lofts on Beall Condominiums
removal of garbage;
(d)express authority to review,accept,condition,modify or deny all plans for all
Construction Activity on the Property;
(e)adopt Design Guidelines and/or reasonable Rules and Regulations for the
administration and procedures for carrying out its duties including but not limited
to the authority to require reasonable fees and deposits to be paid to the
Association;
(f)make capital expenditures,incur liabilities,enter into contracts and agreements,
and provide services and functions as are necessary to affect the business of the
Association,including,but not limited to,hiring and discharging managing agents
and other employees, agents, and independent contractors;
(g)perform any function as set forth in this Declaration,including,without limitation,
by,through or under contractual agreements,licenses,or other arrangements with
any governmental,quasi-governmental,private entity or any non-profit
organization, as may be necessary or desirable;
(h)enter any Unit in accordance with this Declaration;
(i)adopt and amend budgets for revenues,expenditures and reserves and levy and
collect Assessments from Members;
(j)pay the expenses of the Association,and provide for the use and disposition of
any insurance proceeds in the event of loss or damage;
(k)purchase insurance policies to protect the real and personal property of the
Association, including the General Common Elements, against casualty or loss
and to protect the Association, officers, directors, and Staff (when acting in their
official capacity) from liability (the extent and specific nature of coverage shall be
determined by the Board in accordance with this Declaration);
(l)adopt and amend annual budgets for revenues, expenditures, and reserves to
determine the amount of the assessments payable by the Unit Owners, and
allocate and assess such charges among the Unit Owners according to their
respective interests in the Common Elements, which budget shall be submitted to
the Unit Owners on or before the date of the annual meeting;
(m)provide for the indemnification of the Association’s officers and directors;
(n)borrow funds in order to pay for any expenditure or outlay authorized by the
Governing Documents,including,but not limited to,funds borrowed from
Declarant or an affiliate thereof,and to execute all such instruments evidencing
such indebtedness as may be necessary or advisable;and assign its right to future
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income,including,without limitation,the right to receive Assessments,as
security for any borrowed funds;provided,however,that the Association shall not
use in excess of seventy-five percent (75%)of the Association’s total reserve
funds or pledge assets with a value in excess of seventy-five percent (75%)of the
total value of all Association assets as collateral for any borrowed funds without
the affirmative vote of a majority of the Members;
(o)pay or cause to be paid all ad valorem real estate taxes,special improvement and
other assessments (ordinary and extraordinary),ad valorem personal property
taxes,and all other taxes,duties,charges,fees and payments,if any,required to be
made to any governmental or quasi-governmental entity which shall be imposed,
assessed or levied upon,or arise in connection with,the real or personal property
owned by the Association;
(p)obtain and pay for legal, accounting and other professional and expert services;
(q)deal with agencies,officers,boards,commissions,departments,and other
governmental bodies on a local,state and federal basis to carry out the powers,
duties and responsibilities herein;
(r)institute,defend or intervene in litigation,arbitration,mediation,or an
administrative proceeding in its own name on behalf of itself on matters affecting
the Property or take such action as it deems necessary to enforce the Governing
Documents,including reasonably settling litigation if deemed reasonable by the
Board even if the settlement does not comply with the Declaration;
(s)in its discretion,appoint Persons to generally supervise and control the business
of the Association and delegate certain powers,duties and responsibilities to such
Persons;
(t)has the power to adopt,amend,enforce and repeal Rules and Regulations
applicable that apply to the Project,Unit Owners and their guests and invitees.
Such Rules and Regulations may govern use of the Common Elements and Units,
the personal conduct of Unit Owners and their family members,guests and
invitees,and may govern construction and design criteria and aesthetic standards
so as to further the use,enjoyment and aesthetics of the Project for the Owners,
including,but not limited to,Rules and Regulations:to (i)prevent or reduce fire
hazard;(ii)prevent disorder and disturbances of the peace,including regulation of
Construction Activity;(iii)regulate pedestrian and vehicular traffic;(iv)regulate
household animals,the environment and environmental practices;(v)regulate
signs;(vi)regulate any use of the General Common Elements to assure fullest
enjoyment of use by the Persons entitled to enjoy and use the same;(vii)promote
the general health,safety and welfare of persons within the Property;and (viii)
protect and preserve property and property rights.Such Rules and Regulations
may also establish enforcement mechanisms,including penalties and monetary
fines for violation thereof.Following adoption,amendment or repeal of any
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Rules and Regulations the Board shall provide Unit Owners with notice thereof.
Copies of all such Rules and Regulations and amendments thereto in effect from
time to time shall be furnished to Unit Owners upon request; and
(u)exercise all the powers that may be exercised by the Association under the Act
and/or the Unit Ownership Act.
4.4 Association Responsibilities.The Association,by and through its duly elected Board of
Directors shall have the following responsibilities:
(a)Records.The Association shall maintain its records in accordance with
applicable law and the Bylaws.
(b)Maintenance of General Common Elements.The Association shall maintain
and keep in repair the General Common Elements of the Condominium.
(c)Maintenance of Limited Common Elements.All fixtures,utility lines and
equipment installed in the Unit commencing at a point where the utilities enter the
Unit shall be maintained and kept in repair by the Owner thereof.The
Association shall do no act or any work that will impair the structural soundness
or integrity of the Building or impair any easement.Except as the Association
may determine pursuant to Sections (i and ii)below,the Owners that benefit from
the Limited Common Elements shall maintain and keep in repair the Limited
Common Elements of the Condominium.
(i)Ability of the Board to Treat Limited Common Elements as General
Common Elements.The Board may determine that it is in the best
interests of the Association to treat any or all of the Limited Common
Elements as a General Common Element.If the Board votes by a majority
to treat any or all Limited Common Elements as General Common
Elements,then the Board will maintain and keep in repair those Limited
Common Elements chosen to be treated as General Common Elements
and the cost will be pass onto the Owners as a whole pursuant to the
Percentage of Interest.
(ii)Ability of the Board to Repair and/or Maintain Limited Common
Elements.Each Owner shall also keep all Limited Common Elements
appurtenant to his Unit in a clean and sanitary condition and in good
repair.If the Owner(s)fail to maintain or repair the Limited Common
Elements,then the Association has the right to maintain and/or repair the
Limited Common Element.All costs of repairing Limited Common
Elements on behalf of the Owners who benefit from the Limited Common
Elements,including costs of notice and attorney’s fees will be a Special
Assessment against the Owner(s)’ Unit(s).
(d)The right of the Association to repair,alter,and remodel is coupled with the
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obligation to replace any finishing or other materials removed with similar type or
kinds of materials.
(e)Fencing.Fencing is a limited common element.Fencing was installed by the
Declarant prior to the sale of a Unit.Any area of land that is within a fence is a
private yard for the benefit of the Unit Owner who has access to that private yard.
The landscaping within the private yard will be maintained by the Association.
The Association maintains the right to enter the private yard at any time should
the Association determine that private yard requirement maintenance.No
additional fencing shall be allowed to be placed on any Common Element without
the written approval of the Board.Any Unit Owner who wishes to install
additional fencing must petition the Board in writing.The petition shall include
the materials that will be incorporated into the fencing (product details must be
included),height of the fence,width of the boards and a overview showing where
the fencing will be constructed.The Board shall review the application within 30
days.If the Board does not approve in writing within 30 days,then the petition
shall be deemed denied.
Article 5 -MEMBERSHIP
5.1 Regular Membership; Appurtenant Rights.
(a)Owners.Each Owner shall automatically,upon becoming the Owner of a Unit,
be a member of the Association and shall remain a member for the period of the
Owner’s ownership of the Unit.There shall be only one Membership
attributable to fee simple ownership of a Unit.
(b)Memberships Appurtenant.Membership in the Association shall be limited to
Owners. A Person may hold more than one Membership in the Association.
(i)Each Membership and the benefits and burdens relating to that
Membership shall be appurtenant to the fee simple title to the Unit held
by an Owner.The Owner shall hold the Membership appurtenant to that
Unit as set forth herein and title to and ownership of the Membership
shall pass automatically with fee simple title of a Unit,no matter how
such title or interest is acquired.Membership may not be transferred
separately from the fee simple title of a Unit.
(ii)No such Person who is an Owner shall be entitled to opt out,resign,or
withdraw from being a Member,regardless of whether any Person uses
or does not use the Common Elements or is the beneficiary of any
function of the Association.The obligations of each Owner under this
Declaration are mandatory,including,but not limited to,the payment of
ongoing Assessments,and all obligations of each Owner set forth herein,
regardless of when specific obligations arise or become payable during
the term of any Owner’s ownership of a Unit are deemed to be an
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obligation incurred and a commitment made as of the date of such Person
becoming an Owner.
(c)Evidence of Membership and Registration of Mailing Address.Any Person,
upon becoming a Member,shall furnish to the Association a copy of the
instrument vesting that Person with the interest required to make such Person a
Member.Each such Member at the same time shall give a single name and
address to which notices to such Member may be sent,as well as an e-mail
address and telephone number by which that Person can be contacted.In the
event of any change in the facts reported in the original written notice,including,
without limitation,any change of ownership,the Member shall give a new
written notice to the Association containing all the information required to be
contained in the original notice.As against any Member,and any Person
claiming by,through,or under such Member,the Association may,but shall not
be obligated to,for any and all purposes,rely on the information reflected in the
most recent written notice furnished with respect to such Member.In no event
will the Association have any obligation to investigate the address or contact
information of any Member.
(d)Joint Ownership;Joint and Several Liability.If a Unit Owner’s or other
person’s ownership interest in a Unit is held by more than one person or entity
(in tenancy in common,as joint tenants,or otherwise),the membership in the
Association appurtenant to such Unit shall be shared by all such persons or
entities in the same proportionate interest and by the same type of ownership as
the Unit is held,subject to reasonable Board regulation and restrictions on
voting,notices,and assessment obligations as set forth in the Bylaws or
otherwise.All such persons and entities shall be jointly and severally obligated
to perform the responsibilities of the specific Unit Owner under the Governing
Documents,including,without limitation,payment of assessments and other
amounts owed pursuant to the Governing Documents.The membership rights of
a Unit Owner that is not a natural person may be exercised by any officer,
director,partner,trustee,member,manager,or other individual designated from
time to time in a written instrument describing and certifying the authority of
such person provided to the Secretary of the Association.In a multiple interest
owner situation,if more than one person seeks to exercise the vote,the voting
privilege shall be suspended.Neither the Association nor Declarant shall have
any obligation to confirm,as among such multiple interest owners,which of the
persons has the right to exercise a vote.In the case where a Unit Owner is not a
natural person,or where there are multiple owners of a Unit,written notice shall
be provided to the Secretary of the Association stating which person has
authority to act on behalf of the Unit Owner and include that person’s name,
mailing and physical address,telephone number and e-mail address.The
Association may rely on such notice until such notice is updated by a Unit
Owner.
(e)Right to Examine Books.Every Owner and Eligible Holder shall have the right
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to examine the books and records of the Association and of any Manager for the
Project by giving a written notice requesting such examination.Upon receipt of
such notice the party receiving the notice shall schedule a mutually agreeable
date and time during normal business hours for the examination which date shall
not be more than fifteen (15)days following the receipt of the notice requesting
the examination.
(f)Voting Rights of Members.On all matters to be decided by the Association,
unless excluded by this Declaration,each Owner shall have a voting interest
equal to his Percentage of Interest in the General Common Elements as set forth
in this Declaration.When more than one person owns any Unit,all such persons
shall be Members.The vote for such Unit shall be exercised as the Owners
among themselves determine,but in no event shall more than the allocated
Percentage of Interest vote be cast with respect to any Unit.
(g)Meetings.Meetings of the Membership shall be conducted in accordance with
the Bylaws.
(h)Member Responsibilities.
(i)Maintenance of Unit by Owners.An Owner shall maintain and keep in
repair the interior of his own Unit.All fixtures,utility lines and
equipment installed in the Unit commencing at a point where the utilities
enter the Unit shall be maintained and kept in repair by the Owner.An
Owner shall do no act,nor any work that will impair the structural
soundness or integrity of a Building or impair any easement.An Owner
shall also keep all areas and Limited Common Elements appurtenant to
his Unit in a neat,clean and sanitary condition.No acts of alteration,
repairing or remodeling by the Owner shall impair in any way the
structural integrity of Limited Common Elements or General Common
Elements.
(ii)Rules and Regulations.Each Member and their licensee and/or invitee
is hereby deemed to have notice of all Rules and Regulations adopted by
the Association,whether or not the same have been recorded,and shall
be obligated to and shall comply with and abide by such Rules and
Regulations,and pay such Default Assessments which shall be
enforceable in accordance with this Declaration.Any current or potential
Member,investor,lender or purchaser in relation to the Property may
request that the Association provide a copy of the Rules and Regulations
to such Member,potential Member,investor,lender or purchaser.Upon
the new adoption or material amendment of Rules and Regulations,the
Association shall provide all current Members affected by such Rules
and Regulations with copies of such documents or notification of the
adoption of such documents and notice as to where copies may be
obtained.Copies of such documents may be made available at offices of
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the Association or its agents or on an electronic or otherwise generally
accessible medium.Each Member is obligated to inform all licensees
and invitees of the obligations and restrictions set forth in the Governing
Documents and to cause such licensees and invitees to comply with such
obligations and restrictions;provided,however,that failure to so inform
any licensees or invitees shall not impair the enforceability of any
Governing Document.
(iii)Notice of Sale of Unit.Upon entering a contract for sale of a Unit,the
Member owning such Unit shall,within a reasonable time thereafter,
notify the Board in writing of the sale.Such notice shall include the
name and phone number or email address of the purchaser and the
proposed closing date.
Article 6 -FINANCES
6.1 Budget.The Association shall establish a budget in the following manner:
(a)Preparation.At least sixty (60)days before the beginning of each fiscal year,
the Board shall prepare a budget covering the estimated Common Expenses
during the coming year,including,without limitation,a capital contribution to
establish a reserve fund in accordance with a budget separately prepared.The
Board shall annually prepare the reserve budget which takes into account the
number and nature of depreciable assets owned by the Association,the expected
life of each asset, and their expected repair or replacement cost.
(b)Notices.The Board shall send a copy of the preliminary annual budget and
notice of the amount of the assessments for the upcoming year to be delivered to
each Owner at least thirty (30)days prior to the beginning of the fiscal year for
which it is to be effective.
(c)Approval.The preliminary annual budget and assessment shall automatically
become effective at the adjournment of the annual meeting unless disapproved at
the annual meeting by at least fifty-one percent (51%)of the Owners in the
Association.
(d)Failure to Approve Budget.If the preliminary budget and assessment is
disapproved or the Board fails for any reason to determine the budget for any
year,then until such time as a budget is determined,the budget in effect for the
immediately preceding year shall continue for the next year.
6.2 Assessments.The Association shall levy assessments upon the Owners in the following
manner and for the following purposes:
(a)Types of Assessments.
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Preliminary Declaration for the Lofts on Beall Condominiums
(i)Annual Assessments.The Board shall establish and levy “Annual
Assessments”in the amount that the Board estimates will be sufficient to
raise the funds needed to perform the duties of the Association during
each fiscal year.
(ii)Reserve Assessments.The Board shall establish and levy annually
“Reserve Assessments”in the amount that the Board estimates will be
sufficient to raise the funds needed to build reserves to maintain and
replace the Common Elements.This amount shall be at least 10%of the
total yearly budget,unless a lower amount is deemed sufficient by the
Board based upon an acceptable reserve study.The Board may levy
Reserve Assessments against the Units that are specific to meet the needs
of the respective unit types.By way of example but not limitation,the
Board may levy Reserve Assessments and maintain a specific line item
in the budget to reserve for the roofing needs of the Units as they were
built at the same time with the same materials.Reserve Assessments
may be collected for use by the Association for the repair and
replacement of capital expenditures,including but not limited to:
insurance deductible,roof,siding,equipment,infrastructure and other
amenities related within the Project.
(iii)Special Assessments.The Board at any time may levy a “Special
Assessment”in order to raise funds for unexpected operating or other
costs,insufficient operating or reserve funds,or such other purposes as
the Board in its discretion considers appropriate.
(iv)Specific Assessments.The Board shall have the power to specifically
assess those Units that receive benefits,items,or services that are
specifically related to those Units that are not provided to all Units within
the Project that are incurred for the benefit of those Owners for specific
items or services relating to their specific Limited Common Elements,as
determined by the Board in good faith.All such assessments shall be
“Specific Assessments.”
(v)Default Assessments.Notwithstanding anything to the contrary
contained herein,if any cost or expense of the Association is caused by
(a)the negligence or misconduct of an Owner or an Owner’s family
member,employee,agent,licensee or invitee,or a violation of any
covenant or condition of a Governing Document by an Owner or an
Owner’s family member,employee,agent,licensee or invitee,the
Association may,if the Board deems necessary or advisable,levy a
default assessment against such Owner.The Association may also,in the
discretion of the Board,levy a default assessment against any Unit to
reimburse the Association for costs incurred in bringing the Unit into
compliance with the provisions of the Governing Documents,provided
the Association gives prior notice to the Owner and an opportunity to
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respond to the Board.This includes any attorney’s fees and costs
awarded by a court/arbitrator.Any such assessment levied by the
Association pursuant to this section,and each fine,penalty,fee,or other
charge imposed upon an Owner for the Owner or an Owner’s family
member,employee,agent,licensee or invitee violation of any covenant
or condition of any Governing Document,are each referred to herein as a
“Default Assessment.”
(b)Purpose.
(i)Assessments shall be made for the maintenance,repair,replacement,
insurance,management,and administration of General Common
Elements if any,utilities,reserves for contingent liabilities and other
related items and assessments for the Owner’s percentage share of any
assessment from the Community Association.Assessments for General
Common Element Expenses shall be based upon and computed by using
the percentage of interest that each Owner has in relation to the common
elements.
(ii)Assessments shall also be made for the maintenance,repair,and
replacement of Limited Common Elements if any,such that the Owners
are chargeable only for the expenses relating to Limited Common
Elements serving their respective Units in accordance with the
percentage of the Unit or Units have in the Limited Common Element
which serves the Units and for which the assessment is being made.If
only one Unit is associated with the Limited Common Element,then the
entire cost of such repair maintenance or replacement shall be borne by
that Unit.The Board may choose to treat a Limited Common Element as
a General Common Element for the purpose of this section if the Board
determines it is in the best interests of the Owners to do so.
(iii)Assessments may also be made for any purpose contemplated by this
Declaration and for any purpose set out in the Unit Ownership Act.
(iv)The Reserve Assessment shall be assessed as the Board considers
appropriate to adequately meet the costs of the future repair,replacement
or additions to Common Element improvements and fixtures that the
Association is obligated to maintain and repair.Reserves for General
Common Elements shall be assessed according to the Unit’s percentage
interest.Reserves for Limited Common Elements shall be assessed to
the Unit(s)to which they are appurtenant.The Board may choose to treat
a Limited Common Element as a General Common Element if it is in the
best interests of the Owners to do so.
(v)Damage to any part of a Unit resulting from maintenance,repair,
emergency repair or replacement of any of the General Common
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Elements or Limited Common Elements or as a result of an emergency
repair within another Unit at the instance of the Association (other than
damage caused by a Unit Owner or a family member,guest or invitee
thereof)shall be designated Common Expenses by the Association and
assessed in accordance with such designation.
(c)Payment of Assessments.All Assessments shall be due ten days (10)from the
date of mailing notice of such Assessments to the Owners.Any Assessment
may be payable in installments,monthly or quarterly,at the option of the Board.
The amount of the General Common Expenses assessed against each Unit and
the amount of Limited Expenses assessed against each Unit shall be the personal
and individual debt of the Owner thereof.If the Owner is a corporation,limited
liability company,limited partnership,trust or similar entity then the underlying
shareholders,unitholders,beneficiaries,limited partners,etc.agreed that by
purchasing a Unit that waive all protections given by their entity and agree that
they are personally liable for any debt owed to the Association.(For example,if
the entity is a corporation,the Association may automatically pierce the
corporate veil to hold the shareholders personally liable for the debt).No Owner
may exempt himself from liability for these contributions toward the Common
Expenses by waiver of the use of enjoyment of any of the common elements or
by abandonment or lease of his Unit.
(i)Common Expenses of the Association shall be levied against the Units
on a pro rata basis based upon Percentage of Interest.
(ii)Limited Expenses shall be levied against Units as a Specific Assessment,
against the Unit Owner(s)that benefit from the use of the Limited
Common Element except in cases where the Board has determined the
Limited Common Element should be treated as a Common Element.
(iii)All monies owed the Association by an Owner,including but not limited
to judgment awards and judgment interest and costs of collection are also
Default Assessments against the Unit Owner(s)’Unit that run with the
land and attach upon notice from the Association that the monies are
due/or upon award by the Court.
(d)Owner Liability.In a voluntary conveyance of a Unit,the grantee is jointly and
severally liable with the grantor for all unpaid charges against the latter for
grantee’s proportionate share of the Common Expenses up to the time of the
grant or conveyance,without prejudice to the grantee’s right to recover from the
grantor the amounts paid by the grantee therefore.
(e)Waiver of Homestead.By purchasing a Unit a Unit Owner agrees that any
filed Homestead Exemption does NOT apply to any amounts owed under the
Governing Documents,including but not limited to Assessments and all court
costs,monies,attorney’s fees and judgment interest owed to the Association as a
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result of any case involving the Association where the Association is awarded
such case, including the costs of collection.
(f)Verification of Assessments Due.Upon written request,the Association or its
Manager will furnish to a Member or such Member’s title or mortgage company
written verification of the amount of such Assessments owing and whether the
Member has paid such Assessment.The Association or its agent may charge a
reasonable fee for the verification of assessments due.
(g)Restrictions on Assessments and Expenditures.The Board may not impose
an Annual Assessment on any Unit which is more than twenty percent (20%)
greater than the Annual Assessment for the immediate preceding fiscal year,or
levy Special Assessments which in the aggregate exceed twenty percent (20%)
of the total budget of the Association for that fiscal year,without the vote and/or
written consent of a majority of the aggregate voting interests of the Association.
In addition,with the exception of expenditures required for emergency situations
or expenditures that were included in the Association’s budget for the fiscal year,
no single expenditure or debt in excess of Twenty Thousand Dollars and Zero
Cents ($20,000.00.00)may be made or incurred by the Association in a fiscal
year without the prior approval of the Board.The limitation on single
expenditures may be modified by the Board without amendment to this
Declaration.
(h)Unpaid Assessment.All assessments that are not paid within thirty (30)days
from the date they are due and payable become delinquent and are subject to
interest charges to be determined by the Board and penalty charges equal to ten
percent (10%)of the delinquent Assessment.The Board or Manager shall have
the responsibility of taking prompt action to collect any unpaid Assessments that
become delinquent,such action shall be any remedy available at law to the
Association including but not limited to the rights set forth in this Declaration.
However,as the obligation to pay Assessments is a covenant that runs with the
land,the Association is not required to lien the Unit in order to recover past due
amount(s),regardless of any sale of the Unit.Suit to recover a money judgment
for unpaid Common Expenses and Limited Expenses may be maintainable
without foreclosing or waiving any lien securing the same.
(i)Unpaid Assessments -Mortgagee.Where a lienholder or other purchaser of a
Unit obtains title to the Unit as a result of foreclosure of the first mortgage or
trust indenture,such acquirer of title,his successors and assigns,shall not be
liable for the share of assessments by the Association chargeable to such Unit
which became due prior to the acquisition of title to such Unit by such acquirer.
Such unpaid assessments shall be deemed to be Common Expenses collectable
from all of the Units including such acquirer and such acquirer’s successors and
assigns.
(j)Enforcement For Failure to Pay Assessments.
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(i)Liens.All Assessments shall constitute an automatic lien on such Unit
superior to all other liens and encumbrances,except only for tax and
special assessment liens on the Unit in favor of any assessing authority,
and all sums unpaid on a first mortgage or a first trust indenture of
record,including all unpaid obligatory sums as may be provided by such
encumbrance.Since the obligation to pay Assessments is a covenant that
runs with the land,the Association is not required to lien the Unit in
order to recover past due amount(s),regardless of any sale of the Unit.
Should the Association desire,the Manager or Board’s agent may
prepare a written notice of lien assessment setting forth the amount of
such unpaid indebtedness,the amount of accrued interest and penalties
thereon,the name of the Owner of the Unit and the legal description of
the Unit.Such notice may be signed and verified by one of the officers
of the Association or by the Manager,or his authorized agent,and it may
be recorded in the office of the Clerk and Recorder of Park County,
Montana.Regardless of the filing date,the assessment lien attaches from
the date the Assessment is first levied.
(ii)Foreclosure and Bidding at Foreclosure.Such lien may be enforced
by the foreclosure of the defaulting Owner’s Unit by the Association in
the manner provided in the Act and as provide by the foreclosure of a
mortgage on real property upon the recording of a notice of a claim
thereof.In any such foreclosure,the Owner shall be required to pay a
reasonable rental for the Unit and the Plaintiff in such foreclosure actions
shall be entitled to the appointment of a receiver to collect the same.Suit
to recover a money judgment for unpaid Common Expenses shall be
maintainable without foreclosure or waiving the lien securing the same.
In any such proceeding the Owner may be required to pay the costs,
expenses and attorney’s fees incurred in filing a lien,and in the event of
foreclosure proceedings,additional costs,expenses and attorney’s fees
incurred.The Board on behalf of the other Owners shall have the power
to bid on the Unit at a foreclosure or other legal sale and to acquire and
hold,lease,mortgage and convey or otherwise deal with the same.Any
lienholder holding a lien on a Unit may pay,but shall not be required to
pay,any unpaid general Common Expenses,or Limited Common
Expenses payable with respect to any such Unit,and upon such payment,
such lienholder shall have a lien on said Unit for the amounts paid of the
same rank as the lien of his encumbrance without the necessity of having
to file notice or claim of such lien.
Article 7 -USE RESTRICTIONS
All of the Units and the Common Elements shall be held,used and enjoyed subject to the
Governing Documents, Zoning Regulations and the following limitations and restrictions:
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7.1 Common Elements.Each Owner may use the General Common Elements and
Limited Common Elements in accordance with this Declaration and the other Governing
Documents for the purposes for which they are intended,so long as they do not hinder or
encroach upon the lawful rights of other Unit Owners.
(a)Except as otherwise set forth in this Declaration,there shall be no obstruction of
the Common Elements nor shall anything be stored in or on the Common
Elements without the prior consent of the Association.“Obstruction of the
Common Elements”includes,but is not limited to,parking and storage of any
vehicle,machinery,equipment,campers,trailers,boats,motor homes,recreational
vehicles,or other personal property upon landscaped,paved and undeveloped
portions of the Property.Any item identified by the Association as an obstruction
of Common Elements may removed from the Property and disposed of the
without liability to the Owners at the Owner’s expense.The Board shall adopt
Rules and Regulations governing this removal process.Each Owner shall be
obligated to maintain and keep in good order and repair the interior of their Unit.
No Unit or parking space (designated or common)shall be used for the storage of
any inoperable vehicle,machinery or equipment,or other personal property of
any quality in excess of the immediate needs and personal use of the Owner of a
Unit or the occupants thereof.No recreational equipment or vehicles,including,
but not limited to,campers,trailers,motorboats,drift boats,rafts,motor homes,
snowmobiles and four wheelers shall be kept on the Property for any duration of
time.
(b)Nothing shall be done in in,on or to the Common Elements which will impair the
structural integrity of a Building or any Common Element or which would
structurally change a Building or Common Element,except as is otherwise
provided herein and in accordance with the Governing Documents.
(c)Except as otherwise set forth in this Declaration or as approved by the Board or
Declarant,nothing shall be altered or constructed in or removed from the
Common Elements.
7.2 Use.The Units shall be used only for residential occupancy by Unit Owners,
their families,and their guests and invitees,consistent with the restrictions contained herein and
in the other Governing Documents and may not be used for any other purposes whatsoever.
7.3 Alterations.
(a)Exterior Alterations.No Owner may change,alter or remodel the exterior of his
Unit without the prior written approval of the Board.
(b)Interior Alterations and Modifications by Owner.The interior plan of the Unit
may be changed by its Owner,with the exception of the bearing walls which may
not be moved,although no Units may be subdivided.Prior to such alterations,
however,the Owner(s)of the unit to be altered shall give at least thirty (30)days
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notice to the Association of the intent to alter the Unit,together with all necessary
information to conclusively establish that such alteration shall not impair the
structural integrity or any of the Common Elements of the Building.No change
in the boundaries of the Units shall encroach upon the boundaries of the Common
Elements,except by amendment to this Declaration.Altered boundary walls must
be equal to the quality of design and construction of the existing boundary walls.
A change in the boundaries between Units shall be set forth in an amendment to
this Declaration.In addition,to comply with the provisions of Article 13 below,
such an amendment must further set forth and contain plans for the Units
concerned,showing the Units after the change in boundaries,which shall be
attached to the amendment as exhibits.Such an amendment shall be signed and
acknowledged by the Owners of the Units concerned;as well as those Owners
with an interest in any common elements affected,together with words of
conveyance in the amendment conveying interests acquired in the Units or
Common Elements by such change.The amendment shall also be approved by
the Board and signed and acknowledged by all lienholders and mortgagees of the
Units concerned.
(c)Change in Unit Boundaries.No change in the boundaries of existing Units shall
encroach upon the boundaries of the Common Elements or other Units except by
amendment to this Declaration.Any such change will be set forth in an
amendment showing the revised plans of the Unit(s)which amendment shall be
approved,signed and acknowledged by the Association,the Owner(s)of the
applicable Unit(s)and all lien holders and mortgagees of the Units concerned,to
the extent required by the Unit Ownership Act.Boundary walls must be equal in
quality of design and construction to the existing boundary walls.
(d)Load Bearing Walls.Notwithstanding any rights to remodel the Units,load
bearing walls may not be moved or structurally altered.
(e)Liens for Alterations or Modifications.Labor performed and materials
furnished and incorporated into a Unit with the consent of or at the request of the
Unit Owner,or such Unit Owner’s agent,contractor or subcontractor,may be the
basis for the filing of a lien against the Unit or the Unit Owner consenting to or
requesting the same.Each Unit Owner and any other person having an ownership
interest in a Unit shall indemnify and hold harmless each of the other Owners
against any lien against the Unit or against the General Common Elements or
Limited Common Elements for construction performed or for labor,materials,
services or other products incorporated in the applicable Unit at such Owner’s or
such other person’s request.
7.4 Leasing.
(a)The leasing of Condominium Units is subject to the Montana Human Rights Act
and all the provisions of the applicable Gallatin County Zoning and applicable
codes. Units may be leased according to the conditions set forth if this Article.
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(b)“Lease”is defined as allowing a person(s)to occupy all or any part of a Unit for a
monetary consideration or its equivalent.Nothing herein shall preclude a Unit
Owner from retaining a live-in health care provider.
(c)Leases of less than two (2) days are not permitted.
(d)The Association may establish a maximum number of Leased Units within the
Project;however,the percentage of Leased Units may not exceed the current FHA
Condominium Project owner-occupancy requirement.The Leased Units shall be
determined on a first come,first served basis.In order to Lease a Unit,the Owner
must request in writing to the Board of Directors that the Unit become a Leased
Unit.If there are less than the approved number of the Units Leased at the time of
the request,the Board shall grant the request.The Owner will have ninety (90)
days from the time of approval to secure a valid,signed Lease or,if a vacation
rental,show that the Unit is listed for rent as a vacation rental.The Owner shall
provide the Board the information required in the Rules and Regulations made
regarding Leasing.The Board will keep a list of which Units are Leased.Should
an Owner Lease a Unit without obtaining permission of the Board,the Board shall
have the power to enforce this provision with an action for possession of the Unit
(i.e. eviction) should the Board deem such an action necessary.
(e)The Board of Directors may consider requests from owners to exceed the limit set
by the Board for special circumstances the Board of Directors deems reasonable.
If such a request is granted,it shall be for a period not to exceed one year,
provided,however the Board of Directors may consider requests to extend beyond
the one-year period and shall either grant or deny such request within forty-five
(45) days of receiving a written request for extension.
(f)When the maximum number of the Units are Leased,Owners of Units desiring to
offer other Units for Lease may make a request to the Board of Directors to be
placed on the waiting list.A waiting list of Unit Owner(s)wanting to lease their
Unit shall be established and Units shall be placed on the waiting list on a
first-come,first-serve basis.The Owner of first Unit on the top of the waiting list
shall be notified in writing when the number of leased Units is less than the
maximum number of the Units.The Owner will have ninety (90)days from the
date of notice to secure a valid,signed Lease.If at the expiration of this ninety
(90)day period and a Lease has not been provided to the Board of Directors,the
next Unit in line on the waiting list shall be granted pending permission by the
Board of Directors to lease their Unit.Unit Owners are to be given the same
procedures established until the current policy for Leased Units has been reached.
(g)Units Leased at the time of the effective date of this policy will be allowed to
remain in Leased status until the property is sold,otherwise changes ownership,
or is re-occupied by the Owner.At that time,the Unit may be Leased only in
accordance with this Leasing policy.New Owner(s)of formerly Leased Units
and/or Owners who re-occupy a formerly Leased Unit will not receive priority
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over other Owners on the waiting list.
(h)Lessors must,at Lessor’s expense,provide Lessees with copies of the Covenants,
Bylaws,and Rules and Regulations.Leases must specify that the
Lessees/occupants must comply with all provisions of these three documents.
(i)Occupancy shall be limited to those individuals named on the lease,except for
bona fide short-term (less than two weeks)guests of the Owners.Guests are
people who are visiting the Owners for no compensation.
(j)The Owner’s Association is not responsible for Leases negotiated by any of its
members,nor is it responsible for its members’advertisements seeking Lessees.
It is the responsibility of individual owner/lessors to comply with local,state,and
federal laws relative to the leasing process.
(k)Unit Owner(s)s may retain a house sitter or caretaker during periods of Owner(s)
absences.A house sitter and/or caretaker are defined as person or single families
temporarily residing in and responsible for complete Units during temporary
absences of the owners or lessees.They are subject to the provisions of the
Bylaws and Covenants, including the Rules and Regulations of the Association.
(l)In the event a lessee,house sitter,and/caretaker fail to comply with the Bylaws,
Covenants,Rules and Regulations,or becomes a public nuisance,the Association,
after notification to the Owner,may initiate action against the Owner’s offending
Lessee or occupant.The Association is specifically granted the power to step into
the shoes of the Owner to bring an eviction action against the Lessee/house
sitter/caretaker for breach of the Lease agreement.This shall in no way limit the
Association’s other legal remedies.Any and all proceedings shall be taken in
accordance with the Lofts on Beall Condominium Owner’s Association rules,
policies,regulations,covenants and declarations.The prevailing party in such
proceedings shall be entitled to an award of reasonable attorney’s fee,cost of
collection of the judgment and related costs.
(m)Owners may rent or lease their residential Units to others for residential purposes.
Any such lease must have a term of at least seven (7)consecutive days.If the
lease term is thirty (30)days or more,the Owner shall have a written lease with
their lessee that complies with the governing laws of Montana,including
remitting applicable taxes to the State of Montana and the City of Livingston and
shall reference compliance by the lessee with this Declaration,Bylaws,and Rules
and Regulations as adopted and subsequently amended.Such written lease shall
include a copy of the Rules and Regulations.Owners shall be responsible for any
violation by their lessees of the Governing Documents.
7.5 Restriction on Number of Occupants per Unit.All Units may be used only for
residential dwelling purposes and typical residential activities.No portion of the Property or
Unit shall be used for living or sleeping purposes other than rooms designed for living or
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sleeping in a Unit.Occupancy of each Unit shall be limited to two persons per designated
bedrooms in the Unit (as those bedrooms are labeled and depicted on the floor plans attached as
Exhibit E),except that this restriction shall not be applied to preclude occupancy of a Unit by a
family consisting of two persons and one or more children under the age of 18 for whom either
or both of such persons are the parent,legal guardian or designee authorized in writing by the
child’s parent or legal custodian to care for the child.For purposes of this Section,“occupancy”
means staying overnight in a Unit.Vehicles parked in excess of the limit set in the Rules and
Regulations or in areas not permitted under the Rules and Regulations shall be towed at their
owners’ expense.
7.6 Restriction on the Number of Units Owned by One Owner.Any single Owner
may not own more than ten percent (10%)of the total number of Units.This restriction does
not apply to the Declarant.
7.7 Home Occupation.Notwithstanding anything to the contrary contained in this
Section,a gainful home occupation,profession,trade or other non-residential use will be a
permissible use of a residential Unit,so long as:(i)such use is conducted in compliance with
the applicable Zoning Regulations and is not prohibited by law,(ii)such use is not restricted
by this Declaration,(iii)such use is carried on entirely within a residential Unit and is
secondary and incidental to its use as a residence,(iv)there is no generation of pedestrian or
vehicular traffic beyond that customary or incidental to residential use of the Unit,(v)there is
no use of commercial vehicles for deliveries to or from the premises,(vi)there is no
on-premises sales of products,(vii)there is no external evidence of any such activity being
conducted,including,but not limited to,no signs or structures advertising the occupation and
no excessive or unsightly storage of materials or supplies,and (viii)the home occupation
does not employ any non-resident of the Unit,nor does it attract any non-resident customers.
For guidance,the following uses are examples of potentially permissible home occupations:
the making of clothing;the giving of music lessons;a sole practitioner professional practice;
service or product providers who maintain a telephone and office within the residence but the
services and products are not provided or sold from the Unit;the pursuit of artistic endeavors,
provided that the products are not marketed and sold from the Unit,and no kilns or foundries
are used in the Unit.
7.8 Activities.
(a)Nothing shall be done or kept in any Unit or in the Common Elements which will
increase the rate of insurance on the Buildings or contents thereof,without the
prior written consent of the Association.No Owner shall permit anything to be
done or kept in his Unit or in the Common Elements which will result in the
cancellation of insurance on the Buildings,or contents thereof,or which would be
in violation of any law,this Declaration,or the Association Bylaws.No waste
will be permitted in the common elements.
(b)No nuisances shall be allowed upon the Property,nor shall any use or practice be
allowed which is a source of annoyance to the Owners,or which interferes with
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the peaceful possession and proper use of the property by its Owners.No
immoral,improper,offensive or unlawful use shall be made of the property,nor
any part thereof,and all valid laws,zoning ordinances and regulations or all
governmental bodies having jurisdiction thereof shall be observed.
(c)Nothing shall be done in any Unit or in,on or to the Common Elements which
will impair the structural integrity of the Building or which would structurally
change the Building, except as is otherwise provided herein.
(d)Nothing shall be altered or constructed in or removed from the Common
Elements, except upon the written consent of the Association.
(e)Use by the Owners of the Units in the Project shall at all times be in compliance
with all of the laws of the State of Montana.Such compliance shall also include
and extend to any repair, remodeling or refurbishing of the units.
7.9 Animals.No animals shall be kept,raised,or bred in any Unit.Notwithstanding the
foregoing,no more than 2 dogs and no more than 2 cats,and a reasonable number of
birds,tortoises,or other customary household pets may be brought onto the Property or
kept on a Lot (“Permitted Household Pets”)as determined by the Board.Permitted
Household Pets shall not be kept,bred,or maintained for any commercial purpose,nor in
unreasonable quantities,nor in violation of any other provision of this Declaration.
Livestock and Poultry are not Permitted Household Pets.No Permitted Household Pet
shall be permitted to harass any wildlife.Permitted Household Pets are not to be kept
outdoors or chained up.Any Permitted Household Pet that is on the Property shall be
accompanied by the Owner,or their guest or invitee,and kept under control at all times.
Owners are responsible for damage and waste caused by any Permitted Household Pet
associated with a Site.The Board may establish such other reasonable Rules and
Regulations (including but not limited to the number of Permitted Household Pets and the
requirement to charge pet deposits)concerning Permitted Household Pets and other
animals as it deems necessary.Any Owner who causes any animal to be brought or kept
on the Property shall indemnify and hold harmless the Association from any loss,
damage,or liability that the Association may sustain as the result of the presence of such
animal on the Property.Nothing in this Section shall be construed to limit or prohibit
therapy or service animals.However,such therapy or service animals shall be registered
with the Board,and the Member owning such animal shall provide the Board with the
written recommendation of a medical professional verifying the need for the animal,as
well as the animal’s training certificate or other qualification(s).
7.10 Aesthetics.The Common Elements (including Limited Common Elements appurtenant
to the Units)shall not be used for storage of supplies,recreational equipment,materials,
personal property or trash or refuse of any kind,except as provided in duly adopted Rules
and Regulations.No unsightly conditions shall be maintained on the patio,porch,
terrace,fenced yard,or deck of any Unit or in any other area that is visible from the
exterior of the Unit and only furniture and equipment consistent with the normal and
reasonable use of such areas shall be permitted to remain there.During seasons when not
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Preliminary Declaration for the Lofts on Beall Condominiums
reasonably in use,such furniture and equipment may be neatly covered and stored on the
patio,porch,terrace,or deck of a Unit.The Board may adopt Rules and Regulations
from time to time addressing the exterior appearance of Units and Buildings and the use
of porches,decks,balconies,terraces,fenced yards,and patios.In general,no activity
shall be carried on nor condition maintained by a Unit Owner,either in a Unit or upon the
Common Elements, which is detrimental to the appearance of the Project.
7.11 Trash.No trash,waste,garbage,litter,junk,refuse,or unused items of any kind shall be
kept,stored,thrown,dumped,allowed to accumulate,left or burned on any portion of the
Property.No incinerator or other device for burning of trash or garbage shall be installed
or used.Each Member shall store household trash within his,her,or its Unit and/or the
appurtenant garage,and shall dispose of their trash at the location(s)designated by the
Association. At no time should trash be stored outdoors.
7.12 Advertising and Signage.Owners shall not cause or permit anything to be hung or
displayed on the outside of windows or placed on the outside walls of a building and no
air conditioning,sign,awning,canopy,radio or television antenna,satellite dish larger the
eighteen inches (18”)in diameter.No signs or other advertising devices of any kind shall
be displayed which are visible from the exterior of a Unit or on the Common Elements,
including,but not limited to,any real estate sign,“for rent”sign,without written
permission from the Board.
7.13 Parking.No vehicles may be stored anywhere on the Property except in garages and on
the limited common element driveways.However,if a vehicle is parked in a driveway,it
cannot be parking in such a way that it impedes the existing sidewalk.The Board may
establish such other reasonable Rules and Regulations related to parking as it deems
necessary (including but not limited to rules on street parking,guest parking,driveway
parking, etc.)
7.14 Fences and Entry Gates .Except for the fencing installed by the developer before
the sale of the unit,no fences,entry gates,walls or other boundaries for the purpose of
enclosing or demarcating any Lot are permitted without first being approved by the ARC.
Owners are responsible for reasonably maintaining fences enclosing their private yard and
shall not remove any preexisting section of fencing without first being approved by the ARC.
7.15 Lights.Except as otherwise regulated in the Zoning Regulations or Governing
Documents,the Board may adopt Rules and Regulations regulating exterior lighting or
seasonal or holiday lighting.
7.16 Marijuana.No part of the Property may be used for the growing of,storage of,sale,
dispensing,or other transfer of marijuana (medical or recreational)for any purpose,
including,but not limited to,marijuana which is grown,harvested,and distributed
pursuant to any law that authorizes or licenses any of the foregoing activities.
7.17 Satellite Dishes/Antennas.No external antennas are allowed.Satellite dishes up to
eighteen inches (18”)are allowed.An Owner shall use his best efforts to shield satellite
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Preliminary Declaration for the Lofts on Beall Condominiums
dishes from ground level view and shall integrate such dish into the overall roof design
(if roof mounted)or external siding.Owners shall receive approval from the Board prior
to the placement of any satellite dish.Association approval will not be unreasonably
withheld,but is required to make sure the placement of the satellite dish complies with its
Rules and Regulations and to make sure that placement does not violate the health,safety,
and welfare of any other Owner.Any damage to the Common Elements will be paid for
by the Unit Owner.
7.18 Handicapped Rights.Subject to the review rights of the Association and applicable law,
each Owner shall have the right to modify his Unit and the route to his Unit (as
applicable and necessary)leading to the entrance of his Unit,at his sole cost and expense,
in order to facilitate access by Persons who are blind,visually handicapped,deaf or
physically disabled, or to alter conditions which could be hazardous to such Persons.
7.19 Water &Sewer System.All Units shall be served by the water and sewer departments
of the Bozeman Water and Sewer District,Bozeman,Montana,or their successors and
assigns.All Owners and other persons having an ownership interest in a Unit shall be
obligated to pay the required water and wastewater fees for those services.Failure to pay
the fees for services may result in services being shut off to the Unit.
8 INSURANCE
8.1 Association Policies.All insurance policies upon the Common Elements and the Units shall
be purchased by the Association and shall be insured by an insurance company authorized to
do business in Montana.
(a)Named Insured –Association Insurance.The named insured under all policies
purchased by the Association shall be the Association individually as agent for the
Unit Owners.However,the property insurance maintained by the Association
shall include,where so required,each Unit Owner and their lenders or mortgagees
as additional insureds as their interests may appear,with standard mortgagee
clause in favor of each listed mortgagee,subject however,to loss payment and
other provisions as are set forth by these documents.Such property insurance
policies shall provide that payments for losses thereunder by the insurer shall be
paid to the Insurance Trustee hereinafter designated,and all policies and
endorsements thereon shall be deposited with the Insurance Trustee.
(b)Copies to Owners.Upon written request by a Unit Owner,the Association shall
furnish one copy of each insurance policy and of all endorsements to such Unit
Owner.The Association shall also provide,upon written request,certificates of
insurance evidencing property and liability insurance to each Unit Owner and/or
their lender/mortgagee where required.
8.2 Coverage.The Association shall obtain and continue in effect the following types of
insurance,if reasonably available,or if not reasonably available,the most nearly equivalent
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coverages as are reasonably available (as determined by the Board):
(a)Property Insurance.All Units and Buildings,including the Common Elements
and such portions of the Units as are for insurance purposes normally deemed to
constitute part of the Common Elements and such other improvements to land as
may be included in the Common Elements and where such improvements are
reasonably insurable under a property policy,shall be fully insured to an amount
equal to the full replacement cost thereof with all such insurance to be based on
current replacement cost value,as determined annually by the Board,but subject
to such deductible clauses as are required in order to obtain and maintain
coverage at reasonable costs,and which coverage shall be increased by the Board
as may be necessary to provide that the insurance proceeds will be sufficient to
cover replacement,repairs or reconstruction.Such coverage for the Units shall
be pursuant to so called “bare walls”property insurance policies (except as
itemized below). Such coverage shall afford protection against the following:
(i)loss or damage by fire and other hazards typically covered by a
standard special cause of loss property policy form or its equivalent; and
(ii)specifically,such other perils,including flood and earthquake,as
from time to time may be customarily covered with respect to buildings
similar in construction,location and use as the Buildings,if the
Association so desires, in amounts to be determined by the Board; and
(iii)the policies shall cover the Units as initially installed in accordance with
Declarant’s original plans and specifications or a replacement of like kind
and quality,such property to include,but not be limited to,the
building/structure,air-handling equipment for space cooling and heating,
service equipment such as dishwasher,disposal,laundry,fireplaces,
refrigerator,stove,oven,interior fixtures such as electrical and plumbing
fixtures,installed floor coverings,inside paint and other wall finishing,
each of which become part of the building,regardless of whether such
items are included within the definition of Common Elements.
Alterations,betterments or improvements added by or at the request of
Owners after initial construction and installation of the Unit which are
greater than Ten Thousand Dollars and Zero Cents ($10,000.00)in value
shall not be automatically covered by the Association master property
insurance policies unless such alterations,betterments and improvements
are true replacements of like kind and quality to that of the initial
installation and any alterations,betterments and improvements beyond
that must be specifically presented to and accepted in writing by the
Association (as determined by the Board)in order to be added to the
Association policy.Prior to any such acceptance by the Association,the
Owner shall be fully responsible for such alterations,betterments and
improvements and all related insurance.In addition,the Association’s
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Preliminary Declaration for the Lofts on Beall Condominiums
property policy shall not include insurance coverage for any Unit Owner’s
personal property,furnishings and/or contents and none of the
Association,the Board,the Manager or Declarant shall have any
responsibility or liability with respect to such items.
(iv)During any period when any repair or reconstruction of a Building or Unit
is taking place,and to the extent such coverage is not included in the
above required property insurance policy,a Builders Risk policy shall be
maintained for the completed value of the Building or Unit with coverages
equivalent to those included in the paragraph above.
(v)All property insurance policies carried by the Association shall provide for
waivers of subrogation of claims against the Unit Owners and occupants
of any Unit.
(b)Workers Compensation.Workers compensation as required by law and
employer’s liability insurance with respect to officers and employees of the
Association, if applicable.
(c)Director’s and Officer’s Liability.Unless otherwise determined by the Board,a
directors and officers liability insurance policy with a limit of not less than One
Million Dollars and Zero Cents ($1,000,000.00)(or such higher limit as may be
determined by the Board)to insure against liability for actions taken by
individuals in their capacity as officers or directors of the Association.
(d)General Liability.Commercial general liability insurance on an occurrence form
covering bodily injury,including death,and property damage with a limit of not
less than One Million Dollars and Zero Cents ($1,000,000.00)per occurrence and
Two Million Dollars and Zero Cents ($2,000,000.00)in the aggregate and
including coverage for personal injury,products and completed operations and
contractual liability.Such insurance shall cover and indemnify the Association,
the Board,the Manager,if any,and each director,officer and employee of the
foregoing against liability for all tort claims arising out of or relating to the
Association’s ownership,operation,use and maintenance of the Project;and such
policy may include,where available,the Unit Owners as additional insureds;
provided,however,that such insurance is not intended to contribute to or be in
lieu of any individual Unit Owner’s liability policies required to be carried by
each Unit Owner as stipulated below and under which each Unit Owner’s liability
insurance shall be primary for each respective Unit Owner.
(e)Fidelity Bond.Fidelity and crime insurance with a limit of One Million Dollars
and Zero Cents ($1,000,000.00)or such other limit as may be determined by the
Board,covering officers and employees of the Association who handle or are
responsible for its funds, if applicable.
(f)Other Insurance.Such other insurance as the Board shall determine from time
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to time to be desirable and as may be required by the Federal and State laws.
(g)Insurance Changes.If the Board determines that it is not in the best interest of
the Association for the Association to maintain property insurance on the Units,
due to cost or otherwise,the Board may amend this Declaration to reduce or
eliminate the Association’s obligation to maintain such insurance and to require
each Unit Owner to maintain property insurance on such Unit Owner’s Unit for
full replacement value.Such amendment may include such additional
requirements and limitations relating to such insurance as the Board deems
reasonable and may include provisions addressing use of insurance proceeds and
repair or reconstruction in the event damage to or destruction of a Unit.The
Board may cause such amendment to be prepared and recorded without the
consent of the Unit Owners;provided,however,notice shall be provided to each
Unit Owner a reasonable time,not to be less than forty-five (45)days,in advance
of such change in order to allow each Unit Owner time to obtain such newly
required property insurance.
8.3 Claims Against the Association’s Insurance Policies.Unless otherwise provided in
this Declaration or the Bylaws, the Board may adopt a resolution that:
(a)Prescribes a procedure for processing insurance claims.The procedure may
require that all claims against the Association’s insurance policy be processed
through and coordinated by the Board or the Manager, if authorized by the Board.
(b)Assigns the responsibility for payment of charges for handling claims,including
any charges by a Manager.
8.4 Premiums and Deductibles.Premiums upon insurance policies obtained by the
Association shall be paid by the Association as a Common Expense,except that the
amount of increase in the premium that is incurred or occasioned by the negligence,
willful misconduct,occupancy,or abandonment of a Unit or its appurtenances or of the
Common Elements by a Unit Owner (or a Unit Owner’s invitees or guests)shall be
assessed against that Owner or any other person having an ownership interest in the Unit.
Any unpaid amounts shall be treated as an unpaid assessment in accordance with this
Declaration.Not less than ten (10)days prior to the date when a premium is due,
evidence of such payment shall be furnished by the Association to each lienholder listed
in the roster of lienholders if requested in writing by such lienholder.In the event of an
insured loss,the amount of any deductible paid in connection therewith shall,in the
discretion of the Board,either (a)be treated in the same manner as the premiums for the
applicable coverage,(b)be assessed to one or more Unit Owners or other persons having
an ownership interest in the applicable Unit(s)as such loss circumstances may equitably
warrant,or (c)be assessed to a specific Unit Owner or other person having an ownership
interest in the applicable Unit(s)if the loss resulted from the negligence or willful
misconduct of a Unit Owner or such other person (or a Unit Owner’s or such other
person’s family,invitees or guests).The Board is authorized to collect as part of the
Common Expense an amount to fund a reserve equal to the deductible for each insurance
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Preliminary Declaration for the Lofts on Beall Condominiums
policy maintained by the Association.The intent is to therefore,reduce the annual
premium for said policies by allowing for a higher deductible.
8.5 Policy Requirements.From time to time,the Association shall arrange for a review of
the sufficiency of its insurance coverage by one or more qualified persons,at least one of
whom must be familiar with insurable replacement costs in Gallatin County,Montana.
The policies may contain a reasonable deductible.All insurance coverage obtained by
the Board shall (if reasonably available):
(a)Be written with a company authorized to do business in Montana;
(b)Be written in the name of the Association as trustee for the benefitted parties.
Policies on the Condominium shall be for the benefit of the Association and its
Owners;
(c)Not be brought into contribution with insurance purchased by Owners,occupants
or their mortgagees individually;
(d)Contain an inflation guard endorsement;
(e)Include an agreed amount endorsement,if the policy contains a co-insurance
clause;
(f)Provide that each Owner is an insured person under the policy with respect to
liability arising out of such Owner’s interest as a member of the Association in the
Condominium (provided,this provision shall not be construed as giving an Owner
any interest in the Condominium other than that of an Owner);
(g)Include an endorsement precluding cancellation,invalidation,suspension,or
non-renewal by the insurer on account of any act or omission of one or more
Owners,or on account of any curable defect or violation of any Owner without
prior written demand to the Association to cure the defect or violation and
allowance of a reasonable time to cure; and
(h)Include an endorsement precluding cancellation,invalidation,or condition to
recovery under the policy on account of any act or omission of any one or more
individual Owners,unless such Owner is acting with the scope of its authority on
behalf of the Association.
8.6 Waiver of Subrogation and Endorsements.In addition,the Board shall use reasonable
efforts to secure insurance policies which name the Owners,collectively,as additional
insureds for claims arising in connection with the ownership,existence,use or
management of the Condominium and provide:
(a)A waiver of subrogation as to any claims against the Association’s Board,staff,
officers,and any manager, the Owners and their invitees;
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Preliminary Declaration for the Lofts on Beall Condominiums
(b)A waiver of the insurer’s rights to repair and reconstruct instead of paying cash;
(c)An endorsement excluding Owners’individual policies from consideration under
any “other insurance”clause;
(d)An endorsement requiring at least thirty (30)days’prior written notice to the
Association of any cancellation,substantial modification,or non-renewal;
(e)A cross-liability endorsement that provides cross-liability coverage;and
(f)A provision vesting in the Board exclusive authority to adjust losses;provided
however,no Mortgagee having any interest in such losses may be prohibited from
participating in the settlement negotiations, if any related to the loss.
8.7 Insurance Trustee.The Board shall have the exclusive authority to make a claim and
adjust a loss under policies purchased by the Association.Upon such election being
made by the Board,the Board shall provide that all proceeds covering property losses
shall be paid to such bank in Montana with trust powers as may be designated as
insurance trustee by the Board,which trustee is herein referred to as the “Insurance
Trustee.”The Insurance Trustee shall not be liable for payment of premiums nor for the
renewal or the sufficiency of policies nor for the failure to collect any insurance proceeds.
The duty of the Insurance Trustee shall be to receive such proceeds as are paid and hold
the same in trust for the purposes elsewhere stated in this Declaration and for the benefit
of the Unit Owners and their mortgagees in the following shares,but which shares need
not be set forth in the records of the Insurance Trustee.
(a)Unit Owners.Where all Units are destroyed,an undivided share for each Unit
Owner,such share being the same as the Percentage of Interest appurtenant to
each Unit.In the event less than all Units are damaged or destroyed,then such
proceeds shall be held only for the Owner(s)of the damaged or destroyed Unit(s)
to the extent of the repair costs of the damage or in the event of destruction,to the
extent of the fair market value of the Unit before the destruction.In the event
Common Elements are damaged are destroyed,then the proceeds with respect to
such Common Elements shall be held for the Owners in accordance with their
interests in such Common Elements.
(b)Mortgagees.In the event a mortgagee endorsement has been issued as to a Unit,
the share of the Unit Owner shall be held in trust for the mortgagee and the Unit
Owner as their interests may appear;provided,however,that no mortgagee shall
have any right to determine or participate in the determination as to whether or
not any damaged property shall be reconstructed or repaired,and no mortgagee
shall have any right to apply or have applied to the reduction of a mortgage debt
any insurance proceeds except distributions thereof made to a Unit Owner and
mortgagee pursuant to the provisions of this Declaration.
8.8 Unit Owners’Insurance.Each Unit Owner shall procure and maintain,and shall
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Preliminary Declaration for the Lofts on Beall Condominiums
provide the Board upon request with a certificate of insurance showing that the Unit
Owner has in full force and effect (provided that the Board shall have no obligation to
request such certificates or to monitor Unit Owner insurance,and none of the
Association,the Board or Declarant shall have any liability with respect thereto),the
insurance itemized below,which shall be maintained on a primary basis,and the cost of
which shall be the sole and exclusive responsibility of the Unit Owner:
(a)Property insurance for the Unit that provides coverage for what is not covered by
the policy maintained by the Association as referenced above.
(b)Liability insurance on an occurrence form against claims for bodily injury,death
or property damage occurring on,in or about the Unit and insuring the Unit
Owner’s liability with a limit of not less than One Million Dollars and Zero Cents
($1,000,000.00).
Each Unit Owner shall have the right to carry other insurance for such Unit
Owner’s own benefit.All policies carried by the Unit Owners (a)shall contain
waivers of subrogation of claims against the Association,its officers and
directors;and (b)shall not adversely affect or diminish any liability under any
insurance obtained by the Association.Each Unit Owner may seek to add
Deductible Assessment coverage to their personal insurance policy form,where
available and at the sole cost of such Unit Owner,to cover those potential
Association deductibles which may be assessed to any one or more Unit Owner.
8.9 Distribution of Proceeds.Proceeds of insurance policies received by the Insurance
Trustee shall be distributed to or for the benefit of the beneficial Owners in the following
manner:
(a)Miscellaneous.Expenses of administration,Insurance Trustee and construction
or remodeling supervision shall be considered as part of the cost of construction,
replacement or repair.
(b)Reconstruction or Repair.Any balance remaining shall be used for
reconstruction and repair as hereafter provided.
(c)Partial Reconstruction.If the Unit or Units or Common Elements are destroyed
and partially rebuilt,distribution shall be made to Unit Owners or the Insurance
Trustee as their interests appear based on the reconstruction of the Units and
Common Elements.
(d)No Reconstruction or Repair.If there is no reconstruction or repair,the first
proceeds for distribution after paying the Insurance Trustee shall be made to the
first lienholders for such Units before distribution to the Unit Owners.
(e)Remaining Proceeds.After distribution of the insurance proceeds as set forth
above,any remaining proceeds shall be distributed to the Units Owner(s)as such
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Preliminary Declaration for the Lofts on Beall Condominiums
Owner(s)interest shall appear.In the event less than all Units are damaged or
destroyed,then such proceeds shall be held only for the Owner(s)of the damaged
or destroyed Unit(s)to the extent of the repair costs of the damage or in the event
of destruction,to the extent of the fair market value of the Unit before the
destruction.To the extent Common Elements are damaged or destroyed then
remaining proceeds shall be held for the Owners in accordance with their interests
in such Common Elements.
(f)Certificate.In making distribution to Unit Owners and their lienholders,the
Insurance Trustee may rely upon a certificate of the Association made by the
Board or Manager as to the names of the Unit Owners and their respective shares
of the distribution.
8.10 Board as Agent.The Board is irrevocably appointed agent for each Unit Owner and for
each owner of a mortgage or other lien upon a Unit and for each owner of any other
interest in the Project to adjust all claims arising under insurance policies purchased by
the Association and to execute and deliver releases upon the payment of claims.
8.11 Benefit to Mortgagees.Certain provisions in this Article are for the benefit of
mortgagees or trust indenture beneficiaries,and all such provisions are covenants for the
benefit of any mortgagee or trust indenture beneficiary of a Unit and may be enforced by
such mortgagee or beneficiary.
8.12 Notice to Lienholder.The Unit Owners,and not the Board nor the Association,shall
notify the holder of any first lien on any of the Units of the occurrence of any loss in
excess of Ten Thousand Dollars and Zero Cents ($10,000.00)within thirty (30)days of
such loss.
8.13 Reconstruction.
(a)Repair after Casualty.If any part of the Project shall be damaged by casualty,
whether or not it shall be reconstructed or repaired shall be determined in the
following manner:
(i)Lesser Damage.If a Unit or Units (or other damaged property within the
Project)is found by the Board to be tenantable after the casualty,the
damaged property shall be repaired.
(ii)Greater Damage.If a Unit or Units (or other damaged property within
the Project)is found by the Board to be not tenantable after the casualty,
the damaged property may be reconstructed or rebuilt as provided in the
applicable provisions of the Act.If the decision is made not to rebuild
then the property shall be subject to the applicable provisions of the Act.
(iii)Election not to Rebuild.If a Unit or Units (or other damaged property
within the Project)is found by the Board to be not tenantable after the
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Preliminary Declaration for the Lofts on Beall Condominiums
casualty and the Association elects not to rebuild as herein provided and
set forth in 70-23-803,MCA,and less than all of the Units have been
damaged or destroyed,following any payments required by 70-23-805,
MCA,the Insurance Trustee shall be instructed to disburse the proceeds in
accordance with paragraph 9.9(d) and 9.9(e).
(iv)Certificate.The Insurance Trustee may rely upon a certificate of the
Association made by the Board or Manager to determine whether or not
the damaged property is to be reconstructed or rebuilt.
(b)Plans and Specifications.Any reconstruction or repair must be substantially in
accordance with the plans and specifications for the original improvements,or if
not,then according to plans and specifications approved by not less than
seventy-five percent (75%)of the Unit Owners,including the Owners of all Units
the plans for which are to be altered,and in accordance with the review and
approval requirements set forth in the Design Guidelines.Any such
reconstruction not in accordance with the original plans and specifications must
be set forth in an amendment to the Declaration.Provided that any consents
required by the Governing Documents in connection with reconstruction not in
accordance with the original plans and specifications have been obtained,the
Board may cause to such amendment to be prepared and recorded without the
consent of the Unit Owners.
(c)Responsibility.The responsibility for reconstruction or repair after casualty shall
be that of the Association which shall work with the Insurance Trustee to carry
out the provisions of this Article 9.
(d)Assessments.If the proceeds of insurance are not sufficient to defray the
estimated costs of reconstruction or repair for which the Association is
responsible,or if at any time during such reconstruction or repair,or upon
completion of such reconstruction or repair,the funds for the payment of the costs
thereof are insufficient,assessments shall be made against all Unit Owners in
sufficient amounts to provide funds to cover the payment of such costs.Such
assessments shall be in proportion to the Owner’s Percentage of Interest,unless
such reconstruction or repair resulted from the negligence or willful misconduct
of an Owner or the family member,guest or invitee of an Owner,in which case
such amounts may,in the discretion of the Board,be assessed against such Owner
or other person having and ownership interest in the applicable Unit.
(e)Construction Funds.The funds for payment of costs of reconstruction or repair
after casualty,which shall consist of proceeds of insurance held by the Insurance
Trustee and funds collected by the Association from assessments against Unit
Owners,shall be disbursed in the sound discretion of the Insurance Trustee and
according to the contract of reconstruction or repair,which contract must have the
approval of the Board.
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Preliminary Declaration for the Lofts on Beall Condominiums
(f)Surplus.It shall be presumed that the first monies disbursed in payment of costs
of reconstruction and repair shall be from the insurance proceeds.If there is a
balance in a construction fund after payment of all costs of the reconstruction and
repair for which the fund is established,such balance shall be paid to the
Association for the use and benefit of the Unit Owners.
8.14 Condemnation.
(a)In the event the Common Elements,or any portion thereof,shall be taken for any
public or quasi-public use,under any statute,by right of eminent domain or by
purchase in lieu thereof,each Owner will be entitled to notice thereof,but the
Association (acting through the Board)will act as attorney-in-fact for all Owners
in the proceedings incident to such taking unless otherwise prohibited by law.
The award for such taking will be payable to the Association as trustee for all of
the Owners to be used as follows:
(i)If the taking involves a portion of the Common Elements on which
improvements (not including a Unit)have been constructed,then,unless
(a)restoration or replacement of such improvements would be illegal
under any applicable law,rule,regulation or ordinance or (b)within sixty
(60)days after such taking,the Board elects not to restore or replace such
improvements,the Association shall restore or replace such improvements
so taken on the Common Elements to the extent lands are available
therefore,in accordance with plans approved by the Board and,to the
extent required by applicable law,any governmental or
quasi-governmental entity having jurisdiction over the Property.If such
improvements are to be restored or replaced,and the award for the taking
is insufficient to restore or replace such improvements,the Board shall
levy a special assessment,payable by the Unit Owners in accordance with
their Percentage of Interest,in the aggregate amount of such deficiency
and shall proceed to restore or replace such improvements.
(ii)If the taking does not involve any Common Elements including
improvements,or if there is a decision made not to restore or replace as set
forth above,or if there are net funds remaining after any such restoration
or replacement of improvements is completed,then the Association shall
retain such excess proceeds and place them in the Association’s reserve
account.
(b)In the event any Unit or any portion thereof shall be taken,the condemnation
award for such taking shall be paid solely to the Unit Owner(s)of such Unit(s).If
an entire Unit shall be condemned,the Unit Owner thereof shall automatically
cease to be an Owner or a member of the Association with respect to such Unit,
but obligations arising prior to such taking shall remain the obligation of such
person or entity regardless of the termination of membership.
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ARTICLE 9 - MORTGAGEE PROVISIONS
9.1 Notice of Action.Any institutional holder,insurer,or guarantor of a first mortgage that
provides a written request to the Association in accordance with this Article shall thereby
become an “Eligible Holder”for so long as such Person remains an institutional holder,
insurer or guarantor of a first mortgage and will be entitled to timely written notice of:
(a)Any condemnation loss or any casualty loss of which the Association has notice
which affects a material portion of the Common Elements; or
(b)Any foreclosure by the Association of a lien resulting from a delinquency in the
payment of any Assessment,charge,fine,penalty or other amount payable by an
Owner with respect to a Unit subject to the mortgage of such Eligible Holder.
Such notice shall be given at least thirty (30) days prior to the foreclosure.
(c)The written request as required under this Article shall clearly state the legal
description and address of the Unit as well as the name,mailing address,
telephone number and e-mail address of the person who should receive the
notices for the above listed actions.It is the sole obligation of the Eligible Holder
to keep this information up to date with the Association and deliver notice as
provided herein to the Association when this information changes.The
Association will not be in default for failure to provide the above-listed notices if
the Eligible Holder does not provide the Association with accurate information.
(d)Any written notice required under this Article to be provided by the Association
to an Eligible Holder shall be in writing and shall be deemed to have been duly
given if delivered personally or if sent by certified mail,first-class,postage
pre-paid,return receipt requested to the address provided by the Eligible Holder
or by an acknowledged email.
9.2 Fannie Mae required language.
9.2.1 Any right of first refusal in the condo project documents will not
adversely impact the rights of a mortgagee or its assignee to:
9.2.1.1 Foreclose or take title to a condo unit pursuant to the remedies in
the mortgage,accept a deed or assignment in lieu of foreclosure in
the event of default by a mortgagor,or Sell or lease a unit
acquired by the mortgagee or its assignee.
9.2.1.2 No provision of the condo project documents gives a condo unit
owner or any other party priority over any rights of the first
mortgagee of the condo unit pursuant to its mortgage in the case
of payment to the unit owner of insurance proceeds or
condemnation awards for losses to or a taking of condo units
and/or common elements.
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9.2.2 Amendments of a material adverse nature to mortgagees must be agreed
to by Eligible Holders that represent at least 51 percent of the votes of
Units that are subject to Eligible Holders.Only those Eligible Holders
who have filed a request with the Association to be notified of such a vote
shall be included in the vote.If the Eligible Holder has not filed the
written request, then they will not be entitled to vote.
9.2.3 Eligible Holders and guarantors of the mortgage on any Unit in the
condominium project, who have filed a request with the Association to be
provided with written notice, have the right to timely notice of:
9.2.3.1 Any 60-day delinquency in the payment of assessments or charges
owed by the owner of any unit on which it holds the mortgage.
9.2.3.2 A lapse,cancellation,or material modification of any insurance
policy maintained by the homeowners’ association.
9.2.3.3 Any proposed action that requires the consent of a
specified percentage of mortgagees.
ARTICLE 10 - REMOVAL, PARTITION, AND SUBDIVISION
The Project may only be removed from condominium ownership,and may only be
partitioned or sold upon compliance with each of the conditions hereof:
10.1 Board Approval.The Board must approve the plans of removal,partition or sale,except
for the rights reserved to Declarant contained in this Declaration.Such approval shall
include the details of how any partition or sale,and the distribution of property or funds,
shall be accomplished.
10.2 Member Approval.The plan of removal,partition,subdivision,abandonment,
termination or sale must be approved as provided in the Act.If approval for any of the
forgoing is not required by the Act,then approval shall be required from Owners
representing one hundred percent (100%)of the Percentage of Interest and any related
first lienholder in the Project.Upon obtaining such approval,the Board shall be
empowered to implement and carry out the plan of removal,partition,subdivision,
abandonment,termination or sale.This provision is subject to the rights reserved to
Declarant contained in this Declaration.
10.3 Division of Units.No Unit may be divided or subdivided into a smaller Unit,nor any
portion thereof sold or otherwise transferred, except as provided above.
10.4 Common Elements.The Common Elements shall not be abandoned,partitioned,
subdivided,encumbered,or sold or transferred (except to the Association)without
compliance with all of the above requirements.This provision does not apply to fixtures
attached to the General Common Elements that may be disposed of pursuant to the
Board’s discretion.By way of example but not limitation,the Board may decide to
dispose of a park bench that has become unsafe or exceeded its useful life.
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10.5 Removal or Partition –Subdivision.The plan of removal or partition,abandonment,
termination or sale,other than condemnation,shall be agreed to by:(1)eligible mortgage
holders that represent at least sixty-seven percent (67%)of the votes of the mortgaged
Units,or by the votes specified in the Act,whichever is greater;and (2)at least
seventy-five percent (75%)of the Unit Owners by the votes specifies in the Act,
whichever is greater.Upton obtaining such approvals,the Board shall be empowered to
implement and carry out the plan of removal, partition, abandonment, termination or sale.
ARTICLE 11 - DECLARANT’S RIGHTS
In addition to those rights contained throughout this Declaration,the Declarant specifically
reserves the following:
11.1 Changes to Project.The Declarant reserves the right to change the exterior design,
interior design,arrangement of and number of Units,so long as the Declarant owns the
Units so altered.No such change shall alter the boundary of the general common
elements without an amendment of this Declaration,but may alter Owners’Percentages
of Interest based on the final square footage of the Condominium Units.Until
seventy-five percent (75%)of the units,including the expansion Units,have been built
and sold,Declarant reserves the right to establish easements,reservations,exceptions and
exclusions consistent with the Lofts on Beall Condominiums project.Further,
notwithstanding any other provision(s)expressly or impliedly to the contrary contained in
this Declaration,the Articles of Incorporation or Bylaws of the Association,Declarant
reserves the right to exercise the rights,duties and functions of the Board of Directors of
the Association until seventy-five percent (75%)of the all the Units,including expansion
Units,in Lofts on Beall Condominiums have been built and sold.During the period of
development and sale of the Units,the monthly assessment from Common Expenses shall
be based upon the estimate of the actual cost thereof,excluding therefrom any estimated
amount for contingencies,reserves or sinking funds,and Declarant shall pay its pro rata
share thereof only for those Units which have been completed.During the period of time
when fewer than all of the Units,including expansion Units,have been built and
approved for occupancy:(1)the Common Expenses shall be allocated based on each Unit
Owners Percentage of Interest in the General Common Elements;and (2)Declarant shall
pay the real estate taxes and assessments on that portion of the Property which remains
undeveloped but on which Units will be subsequently constructed.
11.2 Expansion Provisions.The Declarant intends from time to time to construct additional
Units on the Property,for a final total not to exceed eleven (11)units.At such time as
Declarant wishes to add such additional Units or amend the Land Lot Units,Declarant
shall record in the office of the Clerk and Recorder of Gallatin County,Montana,a
supplemental declaration containing the following information which is not mentioned
herein:
(a)If different from the attached Exhibit C:
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(i)A site plan showing the Building or Buildings to be constructed on
the Common Elements as the same is set forth herein showing the site plan
and common elements as the same is set forth herein showing the site plan
and common elements of the condominium; and
(ii)A designation of the Buildings to be constructed with the same to
be shown on the site plan to be so recorded.
(b)If different from the attached Exhibit E:
(i)Floor plans showing the Units to be contained within the additional
Buildings to be constructed and added to this Project together with the
numbers given to the specific Units.
(ii)A description of the Buildings and materials of which they are
constructed;
(c)A schedule of the percentage of undivided ownership of the specific Units to be
added to the Project in the General Common Elements,computed for each Unit
which,when added to the number of Unites as a whole,will give the additional
Units,as well as the previously existing Units,their respective percentages of
interest in the expanded or new Project.
(d)To be and remain in compliance with the provision of M.C.A.§70-23-306 at the
time of the filing of such amendment or amendments,floor plans and a certificate
of floor plans shall additionally be prepared and recorded,being additions to
Exhibit E,certifying and showing that the said floor plans fully and accurately
depict the layout of the Units in the floors of the Buildings and that construction
of each such additional new Building will be completed as depicted or was
completed as depicted; and
(e)A description of any and all limited common elements to the new Units if there
shall be any changes to the description contained in the existing Declaration or
any of the amendments thereto.
(f)At the time the Declarant,or its successors or assigns,elects to file such
amendment to this Declaration,all then existing condominium owners hereby
covenant and agree that they will upon request,join in the execution of such
amendment papers agreeing,consenting and joining in such amendment,and
further agreeing to reduce their percentage of ownership interest in the common
elements.
(g)The within agreement shall be a covenants running with the land,and shall be
binding upon the Owner of the then existing Units,who upon acquiring title to
such Unit,by this Covenants agree and consent to the filing of such amendment
and join in the same,and by this covenant agree and consent to the appointment
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Preliminary Declaration for the Lofts on Beall Condominiums
of the Declarant as their attorney-in-fact so that the Declarant may in his
discretion simply file the supplemental Declaration on his own initiative,having
been herein given the power and authority to make such amendment for and on
behalf of tall subsequent condominium owners in Lofts on Beall Condominiums.
(h)After the recording of such supplemental and amended Declarations,all owners of
Units in the Property shall have a non-exclusive right and license subject to the
provisions herein,to use and enjoy all of the general common elements of the
property and all of the general common elements added to the Project by such
amendment.In addition,the owners of the respective Units shall further have the
nonexclusive right and license to use and enjoy the limited common elements
which are appurtenant and part of their respective Units which may be added to
the Project which are limited to the use of less than all of the Unit Owners.
(i)Except as otherwise specifically provided in this Declaration or in such
Supplemental Declaration,all of the provisions,terms and definitions herein
contain shall,upon recording of the same,be deemed expanded to include the
additional Units.
11.3 Timeframe for Completion.Declarant shall not be required to construct all proposed
Condominium Units (including Annexable Property)within any set time frame.Declarant
reserves the right to build the Condominium Units in accordance with the floor plans and site
plan attached hereto and as the same may be amended in accordance with this Declaration.When
a Condominium Unit is completed,the Declarant shall record in the Public Record an
amendment to this Declaration to which shall be attached a verified certificate or statement of a
registered architect,registered professional engineer,or registered land surveyor certifying that
the floor plan previously filed or being filed simultaneously with the amendment fully and
accurately depicts the layout of the Units and the date of construction completion.If there is any
change in the Floor Plans,Site Plan,or Owners’Percentage of Interest in the Common Elements,
then the amendment shall include such changes.
11.4 Assessments.Until a Condominium Unit is complete,and the amendment is recorded,
the Declarant shall not be charged for Assessments on the Condominium Unit.Declarant may
voluntarily subsidize the Association’s budget.Such subsidy shall be limited to Common
Expenses for the General Common Elements relating to the land,including real estate taxes,
public liability insurance,road maintenance (including snow plowing),landscaping maintenance,
and other Common Expenses relating to the General Common Elements,but not including
Common Expenses for maintenance,fire and casualty insurance,or other Limited Common
Expenses relating to the Limited Common Elements applicable to or servicing only completed
Condominium Units.
11.5 Assignment.Any or all of the rights and powers granted or reserved to Declarant in this
Declaration or by law,including the power to approve or disapprove any act,use,or proposed
action,or any other matter or thing,may be assigned by Declarant to any other entity or to the
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Association.Any such assignment or transfer shall be made by appropriate instrument in writing
duly recorded in the office of the Clerk and Recorder of Gallatin County, Montana.
ARTICLE 12 - ENFORCEMENT AND REMEDIES
11.2 Procedure.The Association shall have the right (but not the obligation)to enforce the
provisions of any of the Governing Documents,through procedures adopted by resolution
of the Board,abatement of the violation by the Association,or by proceedings either at
law or in equity against any Person(s)violating or attempting to violate any of the
Governing Documents.
11.2 Discretion.The decision to have the Association pursue enforcement action in any
particular case shall be left to the Board’s discretion,except that the Board shall not be
arbitrary or capricious in taking enforcement action.Without limiting the generality of
the foregoing sentence,the Board may determine that,under the circumstances of a
particular case:
11.2 the Association’s position is not strong enough to justify taking any or further
action;or the covenant,restriction or rule being enforced is,or is likely to be
construed as,inconsistent with applicable law;or although a technical violation
may exist or may have occurred,it is not of such a material nature as to be
objectionable to a reasonable person or to justify expending the Association’s
resources;or it is not in the Association’s best interest,based upon hardship,
expense,or other reasonable criteria,to pursue enforcement action.Such a
decision shall not be deemed a waiver of the right of the Association to enforce
such provision at a later time under other circumstances or preclude the
Association from enforcing any other covenant,restriction or rule,nor shall it
preclude any Owner from taking action at law or in equity to enforce this
Declaration.
11.3 Costs of Enforcement.Costs incurred for enforcing the provisions of the Governing
Documents (inclusive of giving notice of the violation),costs of correcting the defect or
undoing the violation,if undertaken by the Association,or any fines levied against the
Owner after the Owner or his/her tenants,guests and/or invitees is determined by the
Board to be in violation of the Governing Documents shall be paid by the Owner.Any
costs incurred for enforcing the provisions of Governing Documents,for correcting the
defect or undoing the violation,or fine assessed against the Owner that is not paid within
sixty (60)days as provided herein shall result in a lien being recorded against the Unit
and/or the Owner’s interest therein,such lien to be enforceable by sale under the laws of
the State of Montana.Such lien will be recorded in the office of the Clerk and Recorder
in Gallatin County,Montana.Should any lawsuit,arbitration or other legal proceeding be
instituted by the Association against an Owner alleged to have violated one or more of
the provision of the Governing Documents and should the Association be wholly or
partially successful in such proceeding,the offending Owner shall be obligated to pay the
costs of such proceeding,including reasonable attorney’s fees,costs,and cost of
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collecting the judgment.
11.4 Delegation.The Board may delegate any of its rights or obligations with respect to
enforcement as set forth above to its appointed agent,or any committee of the Board,
including,but not limited to,the Manager;except that any decision to pursue or not
pursue any legal proceeding may not be delegated, and shall be determined by the Board.
11.5 Remedies Cumulative.All remedies provided for in this Declaration and the other
Condominium Documents shall not be exclusive of any other remedies which may now
be, or are hereafter, available to the parties hereto as provided for by law.
11.6 Joint and Several Liability.In the case of joint ownership of a Unit,in any form,the
liability of each Owner thereof in connection with the liabilities and obligations of
Owners as set forth in or imposed by the Governing Documents shall be joint and several.
ARTICLE 12 -AMENDMENT
11.7 Amendment By Declarant.The Declarant may unilaterally amend this Declaration or
any other project document (i.e.Bylaws,Rules and Regulations)until seventy-five
percent (75%)of all of the Units,including the expansion Units,in the Project,have been
sold.
11.8 Amendment By Board.The Board may unilaterally amend this Declaration if such
amendment is (i)necessary to bring any provision in compliance with any applicable
governmental statutes,necessary governmental registrations,rule,regulation,or judicial
determination;(ii)necessary to enable any reputable title insurance company to issue title
insurance coverage on the Units;(iii)required by an institutional or governmental lender
or purchaser of mortgage loans,to enable such lender or purchaser to make or purchase
mortgage loans on the Units;(iv)necessary to enable any governmental agency or
reputable private insurance company to insure mortgage loans on the Units or to insure
the Project or any portion thereof,including any individual Unit;(v)necessary to allow
the Association to obtain insurance contemplated by this Declaration,including,without
limitation,property or liability insurance,at a reasonable price and on reasonable terms;
or (vi)otherwise necessary to satisfy the requirements of any governmental or
quasi-governmental agency.
11.9 Amendment By Owners.
(a)This Declaration may be amended,in whole or in part for any reason including
wholly new provisions,terms,covenants and conditions by the affirmative vote
or written consent,or any combination thereof,of at least sixty percent (60%)of
the Unit Owners.If the Declarant still Controls the Project,the amendment must
be approved by the Declarant.
(b)Application.Owners are on notice that by virtue of taking title to a Unit subject
to the Governing Documents that they are subject to and agree to the amendment
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provisions contained in this Article.Owners waive their rights to any statutory
remedies provided for under Title 70,Chapter 23 of the Montana Code Annotated
with regard to duly adopted amendments pursuant to this Article.
11.10 Power of Attorney.Each Unit Owner hereby appoints the Declarant as his
attorney-in-fact,and grants the Declarant all necessary authority so that the Declarant
may record any amendment authorized by the process described herein.
11.11 Annexation.During the Declarant Control Period,Declarant may from time to time
unilaterally (a)annex property to the Project,and/or (b)add Condominium Units to the
Project.Annexation of property and addition of Condominium Units shall be
accomplished by filing a supplement to this Declaration with the office of the Clerk and
Recorder of Gallatin County,Montana.Such supplement shall not require the consent of
the Owners or the Board.The supplement shall include a revised version of Exhibit F
showing the recalculated Percentage of Interest in the Common Elements for each
Condominium Unit and an updated Site Plan and Floor Plans to the extent required by the
Unit Ownership Act.
11.12 Withdrawal.During the Declarant Control Period,Declarant may from time to time
unilaterally amend this Declaration for the purpose of removing property then owned by
Declarant or its affiliates from the coverage of this Declaration.Any property removed
from this Declaration shall be subject to whatever easements,if any,are reasonably
necessary for access to or operation of the Project and each of the Condominium Units.
In addition,during the Declarant Control Period,Declarant may from time to time
unilaterally amend this Declaration for purposes of decreasing the number of
Condominium Units within the Project by removing certain Condominium Units from the
coverage of this Declaration;provided that Declarant may make any such decrease only
with respect to Condominium Units then owned by Declarant which have not been
constructed.Any amendment pursuant to this Section shall not require the consent of the
Owners or the Board.Any amendment to remove one or more Condominium Units shall
include a revised version of Exhibit F showing the recalculated Percentage of Interest in
the Common Elements for each Condominium Unit and an updated Site Plan to the
extent required by the Unit Ownership Act.
11.13 Plat Amendment.Declarant may unilaterally amend the Plat without the additional
consent of any Owner or the Board;provided,however,that nothing in this paragraph
allows Declarant to replat the property underlying a Condominium Unit (i.e.,change a
boundary line or platted easement under a Condominium Unit)without the consent of the
Owner of such Condominium Unit.
11.14 Merger or Consolidation.During the Declarant Control Period,Declarant may merge
or consolidate the Association with a property owners association of the same form of
ownership.Upon written request from Declarant during the Declarant Control Period,
the Board and each Unit Owner shall execute such documents and take such actions as
shall reasonably be requested by Declarant to approve and effect any such merger or
consolidation.
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11.15 Agreement Regarding Amendments.The Unit Owners,the Association,lienholders,
mortgagees,and all others acquiring any interest in or lien on the Condominium Units,
the Common Elements,or any other portion of the Project shall be bound by the rights of
Declarant to amend and supplement this Declaration (and Bylaws if required)and the
Plat as set forth in this Declaration,including,without limitation,in connection with any
annexation of Annexed Property,removal of property from this Declaration,reduction or
increase in the number of Condominium Units,completion of construction of
Condominium Units,and any change in the Percentage of Interest,Site Plan,or Floor
Plans in connection therewith,and their consent to such amendments and supplements is
implied and agreed to by the acceptance or acquisition of any interest in or lien on the
Condominium Units,the Common Elements,or any other portion of the Project.
Declarant is hereby appointed the Unit Owners’,Association’s,lienholders’,and
mortgagees’agent and attorney-in-fact to execute and record such amendments,
supplements, and related documents.
11.16 Recording of Amendment.Any amendment adopted pursuant to this Article must be
recorded with the office of the Clerk and Recorder of Gallatin County,Montana in order
to be effective.If an Owner consents to any amendment to this Declaration or the
Bylaws,it will be conclusively presumed that such Owner has the authority to consent,
and no contrary provision in any mortgage or contract between the Owner and a third
party will affect the validity of such amendment.
ARTICLE 13 - ANNEXATION, WITHDRAWAL AND REPLATTING OF PROPERTY
13.1 Annexation Without Approval of Membership.
(a)Until 75%of units are sold,Declarant may,from time to time,unilaterally subject
to the provisions of this Lofts on Beall Condominiums Declaration all or any portion of
other property owned by Declarant (“Annexed Property”).Declarant may transfer or
assign this right to annex property,provided that the transferee or assignee is the
developer of at least a portion of the Property and that such transfer is memorialized in a
written,recorded instrument executed by Declarant.A Supplemental Declaration shall
include a revised Percentage of Interest Exhibit F showing the percentage of undivided
interest in the Common Elements for each Unit Owner effective upon recording of the
Supplemental Declaration.
(b)Annexation shall be accomplished by filing a Supplemental Declaration annexing
the Annexed Property in the public records of Gallatin County,Montana.A
Supplemental Declaration annexing property shall not require the consent of the Owners,
but it shall require the consent of the owner of the Annexed Property,if other than
Declarant.Any other person and/or entity with a property interest in any real property
submitted to this Declaration shall not be a “Declarant”unless designated as Declarant in
a recorded instrument signed by the preceding Declarant.Any annexation shall be
effective upon the filing of record a Supplemental Declaration unless otherwise provided
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therein.
13.2 Annexation With Approval of Membership.The Association may annex real property
pursuant to the provisions of this Declaration with the consent of the owner of the
Annexed Property,the affirmative vote of a majority of the Owner votes of the
Association represented at a meeting duly called for such purpose,the consent of the
Declarant so long as Declarant owns property subject to this Declaration or which may
become subject to this Declaration in accordance with Section 15.1 and the consent of the
Lofts on Beall Condominium Owners Association Board of Directors.Annexation shall
be accomplished by filing a Supplemental Declaration describing the Annexed Property
in the public records of Gallatin County,Montana.Any such Supplemental Declaration
shall be signed by the President and the Secretary of the Association,and by the owner of
the Annexed Property.Any such annexation shall be effective upon filing unless
otherwise provided therein.A Supplemental Declaration shall include a revised
Percentage of Interest Exhibit F showing the percentage of undivided interest in the
Common Elements for each Unit Owner effective upon recording of the Supplemental
Declaration.
13.3 Withdrawal of Property.The Declarant reserves the right to amend this Declaration so
long as it has a right to annex additional property pursuant to this Article and without
prior notice and without the consent of any Person,for the purpose of removing property
then owned by the Declarant,its affiliates,or the Association from the coverage of this
Declaration,to the extent originally included in error or as a result of any changes in the
Declarant’s plans for the Property,provided such withdrawal is not unequivocally
contrary to the overall,uniform scheme of development for the Property.Common Areas
designated as open space on any final plat for the Property,as approved by the County of
Gallatin and recorded in the public records of Gallatin County,Montana,may be
withdrawn only if restricted as permanent,open space upon which future inconsistent
development would not be permitted.
13.4 Replatting.Declarant may unilaterally amend the plat of the Property without the
additional consent of Owners.Amended plats may include,but are not limited to,the
creation of additional Units within the General Common Elements and changes to
percentage ownership interest in the Common Elements.By accepting a deed to their
Unit,Owners are deemed to have consented to any replatting of the Property that is
consistent with the provisions of this Article and authorize Declarant to execute on their
behalf any documents necessary for such replatting.Notwithstanding the above
provisions,Declarant may not amend the Plat of the Property initially subject to this
Declaration.
ARTICLE 14 - INTERPRETATION
14.1 Liberal Construction.The provisions of this Declaration and of the Bylaws shall be
liberally construed to effectuate the purposes of this Declaration and Bylaws and to create
Buildings subject to and under the provisions of the Unit Ownership Act.
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14.2 Interpretation of Governing Documents.The Association,by and through its Board,
shall have the exclusive right to construe and interpret the provisions of this Declaration
and the other Governing Documents.In the absence of any adjudication to the contrary
by a court of competent jurisdiction,the Board’s construction or interpretation shall be
final,conclusive and binding as to all persons and property benefitted or bound by the
covenants and the provisions hereof.
ARTICLE 15 - SEVERABILITY
The provisions hereof shall be deemed independent and severable and the invalidity or
partial invalidity or unenforceability of any one or more provision or any portion thereof shall
not affect the validity or enforceability of the remainder of such provision or of any other
provision hereof.
ARTICLE 16 - MISCELLANEOUS
16.1 Benefit.Except as otherwise provided herein,this Declaration shall be binding upon and
shall inure to the benefit of the Association and each Unit Owner,and the heirs,estates,
personal representatives, successors and assigns of each.
16.2 Binding Effect.The provisions of this Declaration and the Bylaws shall be construed to
be covenants running with the land and shall include every Unit and shall be binding
upon the Unit Owners (and any other person having an ownership interest in a Unit),their
heirs,personal representatives,successors and assigns for as long as this Declaration and
the Bylaws are in effect.
16.3 Service of Process.The name and address of the person to receive service of process for
the Association until another designation is filed of record shall be the registered agent
for the Association on file with the Montana Secretary of State.
[INSERT INFORMATION]
16.4 Notices.All writings required or permitted to be given or delivered under this
Declaration shall be deemed to have been given or delivered when deposited in the
United States mail,postage prepaid,or by delivering it personally to an officer of the
Association or Declarant or directly to a Unit Owner.
16.5 Sale Disclosures.At any time that a Person owns a majority of the Units,the Person
shall provide to any purchaser the disclosure required by Montana Code Annotated §
70-23-613.
16.6 Gender.Whenever any reference herein is made to one gender,the same shall include a
reference to any and all genders where the same would be appropriate;similarly,
whenever a reference is made herein to the singular,a reference shall also be included to
the plural where the same would be appropriate and vice versa.
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Preliminary Declaration for the Lofts on Beall Condominiums
16.7 Conflicts.In the event that there is any conflict or inconsistency between or among the
provisions of Montana law,this Declaration,the Articles,the Bylaws and the Rules and
Regulations,the provisions of Montana law,this Declaration,the Articles,the Bylaws
and the Rules and Regulations (in that order) shall prevail.
*****
IN WITNESS WHEREOF,the Declarant has caused this Declaration to be made and executed
according to the provisions of the Montana Unit Ownership Act,Section 70-23-101,et seq.,
MCA (2019).
DECLARANT:
DCI Financial, LLC
BY:Michael Dundon
, Manager
State of Montana )
: ss.
County of Gallatin )
On this _____day of _________________________,22,before me,a Notary Public in
and for said State,personally appeared ,Manager Michael Dundon of Financial,LLC,and
acknowledged to me that he executed the same on behalf of the limited liability company
pursuant to the power and authority vested in him.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my Notarial seal the day and
year written above.
____________________________________
____________________________________ (print name)
Notary Public for the State of Montana
Residing at ________________, Montana.
My commission expires: ______________
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Preliminary Declaration for the Lofts on Beall Condominiums
EXHIBIT A-1 – LEGAL DESCRIPTION OF PROPERTY
The following described real property located in Gallatin County, Montana:
[INSERT INFORMATION].
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EXHIBIT A-2 – GALLATIN COUNTY EXEMPTION CERTIFICATE
[INSERT INFORMATION].
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Preliminary Declaration for the Lofts on Beall Condominiums
EXHIBIT B – CERTIFICATE OF NAME
[INSERT INFORMATION].
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Preliminary Declaration for the Lofts on Beall Condominiums
EXHIBIT C – SITE PLAN
[INSERT INFORMATION].
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Preliminary Declaration for the Lofts on Beall Condominiums
EXHIBIT D – CONSTRUCTION MATERIALS
The principal materials of each Building as constructed are as follows:
●Wood for the framing, structural, finish work,
●Cement Board and Wood Siding
●Cedar accents on the exterior wall surfaces;
●Sheetrock for the interior walls and ceilings;
●Carpet, wood, and tile for floors;
●Concrete for foundations, slabs (including garage floor);
●Asphalt shingles, metal, and membrane on the roof; and
●Concrete patios.
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Preliminary Declaration for the Lofts on Beall Condominiums
EXHIBIT E – FLOOR PLANS & CERTIFICATE OF FLOOR PLANS (BUILDING A)
FORM OF CERTIFICATE TO BE SIGNED TO DECLARE BUILDINGS/UNITS
The undersigned,being a duly registered professional architect,engineer or land surveyor in the
State of Montana, herewith certifies the following:
[INSERT INFORMATION].
Dated: ______________________
____________________________________________
____________________, _______________________
Check Registered Professional Architect
applicable Registered Professional Engineer
box:Registered Professional Land Surveyor
Number: ___________________
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Preliminary Declaration for the Lofts on Beall Condominiums
EXHIBIT F – UNIT DESIGNATION AND PERCENTAGE OF INTEREST
Unit Designation Percentage Interest
1 9.09%
2 9.09%
3 9.09%
4 9.09%
5 9.09%
6 9.09%
7 9.09%
8 9.09%
9 9.09%
10 9.09%
11 9.09%
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Preliminary Declaration for the Lofts on Beall Condominiums
EXHIBIT G – LAND LOT UNIT SURVEY
[INSERT INFORMATION].
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Preliminary Declaration for the Lofts on Beall Condominiums