HomeMy WebLinkAboutrecorded CC&Rs Amendments 28050592805059
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CityofBozeman
CityClerk
PO Box 1230
Bozeman,MT 59771-1230
AMENDMENTTOCANYONGATE
DECLARATION OF COVENANTS,CONDITIONS AND RESTRICTIONS
This Amendment toCanyon Gate Declarationof Covenants,Conditionsand Restrictions
ismade this}8*day of kn'l ,2023 by Canyon Gate Investors,LLC,of 111 W.
Lamme Street,Suite101,Bozeman,MT 59715,hereinreferredto as "Declarant."
RECITALS
A.WHEREAS,on April28,2022,Declarantrecorded theCanyon Gate Declaration
of Covenants,Conditionsand Restrictionsinthe recordsof GallatinCounty,Montana,as
Document No.2774188 (the"Declaration");
B.WHEREAS,pursuantto Section4 of the Declaration,the Declarationmay be
amended upon the writtenapprovalof thepropertyowners comprising fifty-one(51)percentof
the area of thenon-publicrealpropertywithinthe Canyon Gate Annexation Propertyand the
consent and approval of the City of Bozeman;and
C.WHEREAS,theundersigned istheowner of allthe non-publicpropertywithin
theCanyon Gate Annexation Property and desirestoamend the Declarationto clarifythatthe
income restrictedunitsrequiredby Section4 oftheDeclarationmay be satisfiedby offeringsuch
unitstopersons who qualifywithinthe income restrictionsforpurchase or forleaseor any
combination of purchasing or leasing,and the City of Bozeman consentsto the amendment as set
forthherein;
NOW,THEREFORE,Declaranthereby amends the Declarationas follows:
1.Section2 of the Declarationishereby amended and replacedin itsentiretywith
the followinglanguage:
Amendment to Canyon Gate Declarationof Covenants,Conditions and Restrictions 1
Provision of Income RestrictedHousing.In orderto advance the goalsof the Bozeman
Community Plan 2020,Declarantagreestoprovide inperpetuitywithinthe R-5 zoning
areawithinthe Canyon Gate Annexation Property,a minimum of 60 housing unitsthat
arepricedforleaseor purchase no greaterthan 120%of Area Median Income atan
interestrateof 3.5%per the matrix setforthinExhibitB.As determined by the City,a
one person household includesstudios,two person household includesone bedroom
units,a threeperson household includestwo bedroom units,and four person household
includesthreebedroom units.The leaseor sale(orcombination thereof)and management
of theincome restrictedhousing unitsshallbe administeredby a community land trustor
otherentityacceptabletothe City.Declarant shallbegin constructionof the income
restrictedhousing priorto any verticalconstructionwithinthe B2M zoning districtand
shallcomplete all60 unitswithin24 months aftercommencing construction.
2.Except as expresslymodified by the terms hereof,the Declarationshallremain
unchanged and allotherprovisionsarehereby ratified.
IN WITNESS WHEREOF the DECLARANT has signedthisinstrumentand arranged
foritsrecordationin therealpropertyrecordsof GallatinCounty,Montana.
LANDOWNER
CANYON GATE INVESTORS,LLC
a Montana limited liabilitycompany
By:CANYON GATE PARTNERS,LLC
a Montana limited liabilitycompany,its
Managing Member
By:Andrew Holloran,Manager
STATEOFMONTANA )
:ss
County ofGallatin )
On 2o o .cDQ ,2023,beforeme,NotaryPublic,personallyappeared
Andrew Hoiih ,asManager ofCanyon Gate Partners,LLC,Managing Mernber ofCanyon Gate
Investors,LLC.
N t ry u A /PU C FOR THE STÀTE OF MT
-y OTAR4 fortheStateofMontana
Residinoat:SEAL sozeman,Montana'o My CommissionExpires:.September04,2023
Amendment to Canyon Gate Declarationof Covenants,Conditionsand Restrictions 2
CITY OF BOZEMAN
By ef ihelich,City Manager
of B
ATTEST:.
City Clerk
STATE OF MONTANA )
:ss
COUNTY OF GALLATIN )
On this 7,day of (A/,2023,beforeme,a Notary Public for
the stateof Montana,personallyappe ed JeffMihelich and Mike Maas,known tome tothe
persons describedinand who executed the foregoinginstrumentas City Manager and City Clerk
respectively,of theCity of Bozeman,whose names are subscribedtothe within instrumentand
acknowledged tome thatthey executed the same forand on behalfof saidCity.
IN WITNESS WHEREOF,I have hereunto setmy hand and affixedmy officialsealtheday and
year firstabove written.
(SEAL)
N licforthe Stateof Montana
,.,JULlE HUNTER
NotaryPublic
AR TOrtheStateofMontana
Residingat.
*n SEAL.Bozeman,Montana
My Commiæion xpires:
Amendment to Canyon Gate Declarationof Covenants,Conditions and Restrictions -3 -