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Amendment 3 THIRD AMENDMENT TO DECLARATION OF PROTECTIVE COVENANTS, EXCEPTIONS,
RESERVATIONS AND CONDITIONS FOR BEECH MOUNTAIN LAKES THIS THIRD
AMENDMENT TO THE DECLARATION OF PROTECTIVE COVENANTS, EXCEPTIONS, RESERVATIONS
AND CONDITIONS FOR BEECH MOUNTAIN LAKES (“Third Amendment to the Declaration”)
made as of this 30th day of December, 1985, by BEECH MOUNTAIN LAKES CORPORATION,
a Pennsylvania corporation, for itself and its successors and assigns
(Declarant). WHEREAS, Declarant is the owner of the real
property now known as 'Beech Mountain Lakes' formerly known as “Lake of the
Four Seasons”, a subdivision situated in the Townships of Butler, Foster and
Dennison in Luzerne County, Pennsylvania, which real property is hereinafter
referred to as the "Development”, and; WHEREAS, the Declarant has heretofore filed
the Declaration of Protective Covenants, Exceptions, Reservations and
Conditions for Beech Mountain Lakes, ("Declaration”), which Declaration
was recorded on May 1, 1985, in Book 2158, Pages 1028—1103 in the Office for
Recording of Deeds, Luzerne County, Pennsylvania, and; WHEREAS, Section 21.4 of the Declaration
provides that the Declarant, may amend the Declaration, for whatever reason, at
any rime prior to December 31, 1985; N0W
THEREFORE, the
Declaration is amended only as set forth in this Third Amendment to the
Declaration. Those Sections or subparagraphs thereof contained herein shall
supplant and replace the Sections or subparagraphs thereof that bear the same
Section or subparagraph number or designation. All other terms of the
Declaration not changed by this Third Amendment to the Declaration shall be
effective as of, and relate back to, the date of recordation of the Declaration
in the Office for Recording of Deeds, Luzerne County. Pennsylvania. Section 7 7.4 Allocation of Association Assessment.
The Association Assessment shall be allocated as follows: (a) The Association Assessment for each Owner
shall vary according to the type of property and the status of improvement to
that property and shall be based on the following ratios:
Revisions to the above listed categories and ratios or additional
categories and the ratio for such categories may be unilaterally established by
the Declarant at any time prior to the Turnover Date by recording an amendment
to this Declaration pursuant to Section 21.4 hereof. After the Turnover Date,
the Association may only revise the above listed categories and ratios or
establish additional categories and ratios by recording an amendment to this
Declaration pursuant to Section 21.3 hereof. (b) The formula used to calculate the Association
Assessment is as follows: Association
Assessment per Residential Unimproved Lot
= the following fraction: [Numerator) (Total
Estimated Common Expenses for ensuing year) - ($120 x A) __________________________________________________________________________________ (Denominator) (2.00 x B) + (1.0 x C) + (.5 x D) +
(1.0 x E) + (2.0 x F) + (4.0 x G). A = The number of Charter
Members (defined in subparagraph 7.4© below) B = (Total number of
Residential Dwelling Units minus (The number of Residential Dwelling Units
Constructed on Charter Member lots now owned by Charter Members + the number at
Residential Dwelling Units constructed on Exhibit D Members (defined in
subparagraph 7.4(6) below) lots now owned by Exhibit D Members) C = [Total number at
Residential Unimproved Lots minus the number of residential Unimproved Lots now
owned by Charter Members D = The number of Sold
Timeshare Weeks E = The number of Sold
Campground Interests F = The number of Commercial
Unimproved Lots G = The number of Commercial
Improved Lots x = “multiplied by” Notwithstanding the above, the
Declarant, in its absolute discretion, but with no obligation whatsoever, may
reduce the amount of the Association Assessment by subsidizing the assessment.
However, all such reduced assessments shall remain in the same ratio as set
forth above and no one category shall be reduced proportionately more than
another. (c)
Notwithstanding the above, those persons listed on Exhibit C hereto, which is
incorporated herein by reference, who originally purchased lots from Eastern
Pennsylvania Marine Properties, Inc., and who still own said lot or lots
(“Charter members”), will pay $10.00 per lot per month as the Association
Assessment for road maintenance, security, recreational facilities and
maintenance. No additional Association Assessment will be made to such owners
for construction and maintenance of additional amenities other than reasonable
user fees. This right of limited assessment is nontransferable. (d) Notwithstanding
the above, those persons listed on Exhibit D hereto, which is incorporated
herein by reference, who purchased lots from Beech Mountain Lakes Corporation,
between the months of March and December, 1985 and who still own said lot or
lots (“Exhibit D Members”) will always pay the assessment levied against
Unimproved lots as specified above, even if the lot has a residentia1 dwelling
unit thereon. This right of limited assessment is nontransferable. (e) Notwithstanding anything to the
contrary herein, the Association Assessment shall not increase more than 10%
per year, cumulatively, from the date of recordation of this Declaration, i.e.,
if the Association Assessment does not increase for two years, it may not be
Increased more then 20% in the following year (10% each year, cumulatively). Section 21 21.4 Amendment by
Declarant. Declarant reserves the right to amend this Declaration, without
the approval of any other Owners or the Association or Mortgagees of Record,
for whatever reason, at any time prior to December 31, 1987. Anything herein to the contrary
notwithstanding, Declarant reserves the right and power to record an amendment
to this Declaration at any time from time to tire which amends this Declaration
(i) to comply with requirements of the Federal National Mortgage Association, the Government National Mortgage
Association, the Federal Home Loan Mortgage Corporation, the Department of
Housing and Urban Development, the Federal Housing Administration, the
Veteran’s Administration, or any other governmental agency or any other public,
quasi-public or private entity which performs (or may in the future perform)
functions similar to those currently performed by such entities, (ii) to induce
any of such agencies or entities to make, purchase, sell, insure, guarantee or
otherwise deal with first mortgages covering Units, (iii) to correct clerical
or typographical errors in the Declaration or any exhibit thereto, (iv) to
bring the Declaration into compliance with applicable laws, ordinances or
governmental regulations, (v) to amend the Declaration so as to establish a
date certain as to Declarant's termination of control of the Association as
provided in Section 11.3, or (vi) to restate or compile all previous amendments
into a single document. As provided in Sections 4.1 and
126.1, as long as it is deemed the Owner of any Common Area, community Common
Area or Sports Facility, Declarant reserves the right to add to any existing
Common Area, Community Common Area or Sports Facility or construct additional
Common Areas, Community Common Areas or Sports Facilities. Further, Declarant may change the
arrangement of any Common Area or Community Common Area provided that the
necessary consent of the Owners has been obtained consistent with Section 4.1. Declarant has the right to
unilaterally effectuate any such amendments to this Declaration as may be
necessary or required in Declarant's sole discretion, to effectuate such
actions, provides that such amendment shall not increase the proportion of
Common Expenses borne by Owners, decrease an Owner's voting rights or decrease
the size of an owner's Interest. In addition, pursuant to Section 7.4,
prior to the turnover Date, the Declarant reserves the right and power to
record an amendment to this Declaration to establish additional categories of
properties and ratios for the allocation of the Association Assessment for such
additional categories. In furtherance of the foregoing, a
power coupled with an interest is hereby reserved and granted to the Declarant
to make or consent to such amendments on behalf of each Owner. Each
deed, Membership certificate, mortgage, trust deed, other evidence of
obligation, or other instrument affecting a Unit and the acceptance thereof
shall be deemed to be a grant and acknowledgment of, and a consent to the
reservation of, the power to the Declarant to make, execute and record such
amendments. The right and power to make such amendments hereunder shall
terminate at such time as the Declarant is no longer vested with or controls title
to any interest in the Development. Any such amendments to this
Declaration shall become effective upon the recording in the Office for
Recording of Deeds, Luzerne County, Pennsylvania, of an instrument executed by
Declarant, setting forth the text of such amendment in full, together with the
appropriate recording data for this Declaration. Such amendment need only be
executed and acknowledged by Declarant, and need not be consented to by any
Owners, community Association, the Association, any Mortgagees of Record,
lienholders or any other parties. Notwithstanding the above, a
Community Declaration shall be amended only as provided in each, respective
Community Declaration. Exhibit
D Exhibit D Purchasers as defined in
Section 7.4(6) of the Third Amendment to the Declaration of Protective
Covenants, Exceptions, Reservations and Conditions for Beech Mountain Lakes The following persons purchased lots from Beech Mountain Lakes
Corporation between March 1985 and December 1985. (For list, see original document) | ||||||||||||
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