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HomeMy WebLinkAbout1.12 Declaration of Protective CovenantsCAUG riecorded at__ L_Z.5_, Retention: iso. 410 7. .. T i` s !�-�..-d_- ��-l��L. �._. �,i .. _w F i •ii L: St�l�i s: �.. �.+ri FM„, G.AREi:: ri COi.NTy. CQL) ADo DECLARATION OF PROTECTIVE COVENANTS FOR PINYON PEAKS SUBDIVISION '3..7Y (61 refit 53 THIS DECLARATION OF PROTECTIVE COVENANTS FOR PINYON PEAKS SUBDIVISION are made and entered into this (-7t4, day of August, 1989. ARTICLE I Purpose of Covenants These Covenants shall govern and be applicable to that certain real property situated in Garfield County, Colorado known as Pinyon Peaks Subdivision as defined and described in the Plat therefor recorded August 14, 1989 at 3:30 p.m. as Reception. No. 404540 in the office of the Clerk and Recorder of Garfield County, Colorado. It is the intention of Carbondale Land Development Corporation, a Colorado corporation (hereinafter the "Declarant"), expressed by its execution cf this instrument that the lands within Pinyon Peaks Subdivision be developed and maintained as a highly desirable scenic residential area. It is the purpose of these Covenants that the present beauty, views and setting of the Subdivision and the lots therein shall always be protected as much as possible with respect to uses, structures, landscaping and general development as permitted by this instrument. These covenants shall be a burden upon and run with all of the lands within the Pinyon Peaks Subdivision. ARTICLE II Owners - Homeowners Association 1. Membership. All persons or other entities (herein- after referred to as "Owners") who own or acquire the title in fee to any of the lots in Pinyon Peaks Subdivision by whatever means acquired, shall automatically become members of Pinyon Peaks Homeowners Association (hereinafter the "Association'), a Colorado non-profit corporation, in accordance with the Articles of Incorporation of Pinyon Peaks Homeowners Association, which shall be filed with the Colorado Secretary of State and recorded in the real estate records of the Garfield County, Colorado Clerk and Recorder, and as the same may be duly amended from time to time and also filed with the Colorado Secretary of State and recorded with the Garfield County Clerk and Recorder. There shall be one (1) vote per lot in the Association. 2. Purpose. The Association shall be authorized and empowered to take each and every step necessary or convenient to the implementation and enforcement of these covenants. The Association shall have the right and responsibility to maintain, preserve, repair, insure, and otherwise protect and promote the interests of the Owners with respect to all common properties and interests of the Owners and the Association. The Plat creating the Subdivision identifies certain roads for use of Owners and access to lots within the Subdivision. In addition, Lots 8 and 9 and the bf-v 761 Qac€ 54 emergency access reflected on the Plat are accessed by Cain's Lane. The Association shall maintain, repair and keep all roads and easements in good, safe and useable condition to the extent that such may be reasonably necessary and desirable. The Association shall be authorized to enter into agreements with third parties for the maintenance, repair and upkeep of roads and accesses and shall further be authorized to enter into agreements for the use, maintenance, repair and upkeep of Cain's Lane. All costs and expenses associated with preserving, maintaining, repairing, protecting, insuring and otherwise dealing with roads, easements, and Association property and interests shall be borne by the Owners and shall be assessed, all as more fully provided herein. ARTICLE III Use Restrictions 1. Permitted Uses. Only one (1) single family dwelling, together with structures appurtenant thereto, shall be constructed on any lot in the Subdivision. The minimum size of a residential, single-family dwelling shall be two thousand (2,000) square feet, exclusive of open porches, decks, carports and garages. The maximum size of any residential, single-family dwelling shall be ten thousand (10,000) square feet, exclusive of open porches, decks, carports and garages. 2. Caretaker's Unit. An attached caretaker's unit shall be permitted to be constructed along with each single-family residence. The caretaker's unit shall not exceed one thousand eight hundred (1,800) square feet in size, exclusive of open porches, decks, carports and garages. The square footage of the caretaker's unit shall not be included in the minimum or maximum amounts of square footage for residences as provided in paragraph 1 above. Caretaker's units shall be used only in association with the principal residential use of each lot and may not be rented. 3. Duplexes/Multi-Family Structures. Duplexes and multi -family structures are prohibited in the Subdivision. An approved caretaker's unit attached to a residential structure shall not be deemed a duplex. 4. Outbuildings. Barns shall be permitted within the Subdivision provided that they do not exceed a main floor building footprint of one thousand (1,000) square feet. Corrals shall be permitted within the Subdivision so long as the fencing does not exceed three hundred (300) lineal feet. Corral areas shall not be subject to overgrazing provisions herein. In the event both a corral and barn are proposed, they shall be attached. Greenhouses shall be permitted within the Subdivision provided that they do not exceed one thousand (1,000) square feet. Auxiliary buildings such as tool sheds, work areas, detached garages and the like shall be permitted so long as they do not exceed one thousand (1,000) square feet. No barn, greenhouse or auxiliary building shall be used for 2 B '761 PeA 55 any commercial purpose nor shall they contain living facilities or kitchens. ARTICLE IV Architectural Committee 1. Architectural Committee. The Architectural Committee shall be composed of between three (3) and five (5) natural persons. Prior to Declarant's sale of fifteen (15) lots in the Subdivision, Declarant may appoint the members of the Architectural Committee which may include officers, directors or shareholders of Declarant, in Declarant's sole discretion, and the Board of Directors shall have no authority to remove any member so appointed. Upon the sale of the fifteenth lot in the Subdivision, the members of the Architectural Committee shall be appointed by the Board of Directors of the Association. The persons serving on the Architectural Committee shall serve at the pleasure cf the Board of Directors who may remove a member of the Architectural Committee, except a member appointed by Declarant, and appoint a new member at any time, provided there shall at all times be at least three (3) persons serving on the Architectural Committee. The members of the Architectural Committee may also be directors of the Association and need not be Owners. The Architectural Committee shall have and exercise all the powers, duties and responsibilities set out in this instrument. 2. Approval by Architectural Committee. No improve- ments of any kind, including but not limited to, dwelling units, garages, accessory buildings, swimming pools, tennis courts, ponds, parking areas, fences, walls, driveways, antennae, curbs and walks shall be erected, altered or permitted to remain within the Pinyon Peaks Subdivision, nor shall any excavating, tree cutting, and clearing or landscaping be done in conjunction therewith within the Pinyon Peaks Subdivision, unless the complete architectural plans and specifications and a site plan showing the location and orientation thereof for such erection or alteration and landscaping are approved by the Architectural Committee prior to the commence- ment of such work except as Declarant may be specifically permitted to do by these Covenants. At least three (3) complete sets of the architectural and site development plans and specifications shall be submitted to the Architectural Committee along with a complete list of all exterior materials and colors to be used. All copies of the complete plans and specifications shall be signed for identification by the Owner or his architect. The Architectural Committee shall have the right to request whatever additional specification information, plans, specifications, reports and the like it deems necessary to evaluate the development proposal throughout the approval and construction process. In addition, the Architectural Committee may adopt rules and regulations which shall specify the information, reports, plans, specifications and the like required to be submitted to the 3 b ,T,Y ?61 PwGE 5F Architectural Committee. In the event the Architectural Committee fails to take any action within forty-five (45) days after three (3) copies of the complete architectural and site development plans, specifications, materials and colors have been submitted to it and the submittal has been certified in writing by the Architec- tural Committee as complete, then all of such submitted architec- tural plans shall be deemed to be approved. The Architectural Committee shall not unreasonably disapprove the architectural plans. The majority vote of the members of the Architectural Committee shall be required for approval of plans. In the event the Architectural Committee shall disapprove any architectural plans, the person or entity submitting such architectural plans may appeal the matter to the next annual or special meeting of the members of Pinyon Peaks Homeowners Association where a vote of sixty-five percent (65%) of the members votes entitled to be cast at said member's meetings shall be required to change the decision of the Architectural Committee. 3. Building Permit. An Owner may apply for a building permit from the Garfield County Building Department at any time, provided, however, the plans approved by the Building Department shall not differ in any substantial way from the plans approved by the Architectural Committee. If the plans approved by the Building Department differ in any substantial way as determined by the Architectural Committee from the plans approved by the Architec- tural Committee, then all approvals of the Architectural Committee shall be deemed automatically revoked. 4. Variances. The Architectural Committee may, by an affirmativesvote of a majority of the members of the Architectural Committee, allow asonable variances as to any of the covenants and restrictions gov nil— architectural control contained in this instrument and/or policies or rules promulgated by the Architec- tural Committee, on such terms and conditions as it shall require. No variance shall be granted which contravenes any provisions of these Covenants required by any approvals obtained by Declarant from Garfield County for Pinyon Peaks Subdivision or which violate the Garfield County Land Use and Building Codes. No variance shall be granted without written notice of the request for such variance provided ten (10) days prior to the hearing for said variance to all lot Owners. Notice to such lot Owners shall be deemed complete when placed in the United States mail, first class postage prepaid, to the last known address for each lot Owner as provided to the Association. 5. General Requirements. The Architectural Committee shall exercise its best judgment to see that all improvements, construction, landscaping and alterations within Pinyon Peaks Subdivision harmonize to the greatest extent possible with the surroundings and with other structures as to design, materials, color, siting, height and other design features. The Architectural Committee shall protect the seclusion and view of each lot insofar 4 B[L 761 P3GE 57 as possible (taking into account final buildout of all lots in the Subdivision) in the development of Pinyon Peaks Subdivision pursuant to these covenants and shall endeavor to protect and preserve the visual character of the property and preserve and maintain the trees in Pinyon Peaks Subdivision. In its review of any proposed Architectural Committee shall evaluate, materials to be used on the outside of including exterior colors, location with finished grade elevations and harmony natural setting and native trees, and Pinyon Peaks Subdivision. development activity the among other things, the buildings or structures, respect to topography and of landscaping with the other vegetation within The Architectural Committee shall exercise its judgment to preserve to the greatest extent possible the natural charac- teristics of each lot and all natural vegetation, including trees and bushes and the natural setting of each building site. The Architectural Committee must approve the location of all structures and improvements to be located on each lot. The Architectural Committee must approve all fencing prior to installation. Barbed wire and chain link fencing shall be prohibited. Only wooden fencing shall be permitted within the Subdivision. Should an outside water source be available for irrigation to Lots 5, 6, 7, 8, 9, 10, 13, 14, 15 and 16, up to five (5) acres of those lots may be fenced. The type and location of all fencing must be approved by the Architectural Committee. One basis for consideration by the Architectural Committee of fencing will be how it affects wildlife. Pasture fencing shall not exceed forty-two (42) inches in height. The Architectural Committee shall consider the building standards specified by the pamphlet "Protecting Your Home from Wildfire" prepared by the United States Forest Service in granting approvals for construction of residences. The Architectural Committee shall attempt to incorporate the recommendations of that pamphlet into the plans approved for Owners of lots in the Subdivision to the extent reasonably necessary and convenient to protect the Subdivision and all of the buildings constructed therein from the danger of wildfire. The Homeowners Association will provide domestic water from its well system to all residences constructed within the Subdivision. Each Owner shall be responsible for providing a metering system acceptable to the Homeowners Association and the Architectural Committee for the purpose of metering water usage. Such meter must be placed in a location which provides reasonable access for purposes of reading the meter to determine charges based upon usage. 5 bO'K 761 PAGE 58 6. Preliminary Approvals. Lot Owners who anticipate constructing improvements on lands within Pinyon Peaks Subdivision, may submit preliminary sketches of such improvements to the Architectural Committee for informal and preliminary approval or disapproval. All preliminary sketches should be submitted in at least three (3) sets, and should contain sufficient general information on those matters required to be in the complete architectural and site development plans and specifications to allow the Architectural Committee to act intelligently on giving an informed preliminary approval or disapproval. The Architectural Committee shall never be finally committed or bound by any preliminary or informal approval or disapproval until such time as complete architectural and site development plans, specifications, materials and colors are submitted and approved or disapproved. The preliminary approval is offered as an accommodation only, and the Architectural Committee may set fees for this service. 7. Architectural and Site Development Plans. The Architectural Committee shall disapprove any architectural and site development plans submitted to it which do not contain sufficient information for it to exercise the judgment required of it by these Covenants. 8. Architectural Committee Not Liable. The Architec- tural Committee shall not be liable for damages to any person or entity submitting any plans for approval, or to any Owner of Owners of land within Pinyon Peaks Subdivision, by reason of any action, failure to act, approval, disapproval or failure to approve or disapprove with regard to such plans. The Architectural Committee shall have no liability or responsibility for any representations made to any Owner or prospective owner by any third parties. The decisions of the Architectural Committee shall be governed by these Covenants and any rules or regulations duly adopted by the Architectural Committee pursuant to these Covenants. 9. Written Records. The Architectural Committee shall keep and safeguard for at least five (5) years complete permanent written records of all approved applications including one (1) set of the finally approved architectural and site development plans and of all actions of approval or disapproval and all other formal actions taken by it under the provisions of this instrument. 10. Authority to Promulgate Rules and Regulations. The Architectural Committee shall promulgate and adopt rules and regulations necessary to implement .these Covenants. These rules and regulations may include submission requirements concerning the type of information, reports, plans and specifications and other information necessary to make an informed decision regarding requests for development, modifications to buildings and the like. 6 71a p!,r3E 59 ARTICLE V Restrictions and Protective Covenants 1. No Further Subdivision. No lot described on the recorded Plat of Pinyon Peaks Subdivision shall ever be further subdivided into smaller lots or conveyed or encumbered in any less than the full dimensions as shown on the recorded Plat of Pinyon Peaks Subdivision; provided, however, conveyances or dedications of easements for utilities may be made for less than all of one (1) lot. Notwithstanding the foregoing, a lot line adjustment between two (2) lots in Pinyon Peaks Subdivision shall be deemed a permitted subdivision, subject, however, to any reviews or disapprovals that maybe required by the Garfield County Land Use Code. 2. Domestic Animals. Domestic animals shall be permitted subject to any rules and regulations which may be promulgated by the Board of Directors; provided, however, no more than two (2) farm animals per lot shall be permitted. Should an outside water source be available for irrigation to lots 5, 7, 9, 10, 13, 14, 15 and 16, these lots may be allowed an additional two (2) farm animals with the written approval of the Architectural Committee. All farm animals other than horses must be approved by the Homeowners Association. All farm animals must be kept in such a fashion that they do not constitute an annoyance to any property Owner within the Subdivision. The owner of farm animals shall remove animal waste such that unpleasant odors do not impact other property owners. Farm animals shall not be permitted to overgraze such as to cause damage to natural vegetation or defoliation of any portion of any lot, except the approved corral area. Trees and bushes shall be protected from farm animals to the greatest extent possible. In the event of overgrazing or defoliation from farm animals, the Homeowners Association shall be entitled to require the reseeding, replanting or revegetating of any area and shall have the authority to require the lot Owner to remedy any such condition within a set period of time not to exceed one hundred twenty (120) days. In the event the Owner does not correct the condition within that period of time, the Homeowners Association shall be authorized to enter upon the land of the Owner violating these Covenants, repair the damage by all appropriate means, charge the offending Owner for all services, materials and equipment used in connection with such repair and recover an administrative fee equal to twenty percent (20%) of the cost of repairing the damage or One Thousand Dollars ($1,000.00), whichever is greater. The right of the Association to recover costs of such corrective work and the administrative fee shall be enforceable in accordance with the assessment and lien provisions of these Covenants. A lot Owner shall be entitled to keep a maximum of four (4) dogs on his property. Dogs shall be kept under the control of the owner at all times and shall not be permitted to run free or to cause a nuisance in the Subdivision. No dogs shall be allowed 7 'y ;1 FP.GE €;(, beyond the boundaries of the lot owned by the persons where the dog is housed unless accompanied by a person in full control of such dog. Dogs shall be leashed, chained, fenced, kenneled or housed at all times. The Homeowners Association shall have the right to assess and enforce penalties against Owners violating these restrictions as follows: One Hundred Dollars ($100.00) for the first violation committed by an Owner's dog and One Hundred Dollars ($100.00) plus an additional Fifty Dollars ($50.00) for each subsequent violation such that the fine increases in Fifty Dollar ($50.00) increments for each succeeding violation. Should any dog be caught chasing or molesting deer, elk, poultry or any domestic animals, the Homeowners Association shall be authorized to prohibit the propery Owner from continuing to maintain the offending animal on his property and may dispose of that animal, if necessary, to protect wildlife or other Owners' domestic animals. A lot Owner shall be entitled to keep a maximum of ten (10) poultry, fowl or rabbits so long as such are penned at all times. The pen or enclosure containing such animals shall be subject to approval by the Architectural Committee in its discre- tion as to size, appearance, materials, construction and location. No Owner shall be permitted to keep poultry or fowl which disturb or cause a nuisance to any other property Owner. No roosters, peacocks or turkeys shall be allowed. Areas where an Owner keeps any animals shall be kept clean and free of refuse, insects and waste at all times. Notwithstanding the foregoing, no animals may within a lot or the residences which, in the good faith of the Board of Directors or a committee selected by the Directors for this purpose, result in any annoyance obnoxious to residents in the vicinity. be kept judgment Board of or are 3. Underground Utility Lines. With respect to the new construction or extension of any utilities, all water, sewer, gas, electrical, telephone, cable television and other utility pipes or lines within the limits of Pinyon Peaks Subdivision shall be buried underground and not be carried on overhead poles or above the surface of the ground. Any areas of natural vegetation or terrain in Pinyon Peaks Subdivision disturbed by the burying of utility lines shall be revegetated by and at the expense of the Owner or Owners causing the installation of the utilities no later than the next growing season following installation. Lot 17 shall be permitted to use overhead utility lines, the location of which shall be subject to review by the Architectural Committee. 4. Service Yards and Trash. Equipment, service yards or storage piles on any lots may be permitted during construction if they receive Architectural Committee review approval. All rubbish and trash shall be removed from all lots in Pinyon Peaks 8 B1! 761 MT SI Subdivision and shall not be allowed to accumulate and shall not be burned thereon. 5. No Mining, Drilling or Quarrying. Mining, quarry- ing, tunneling, excavating or drilling for any other substances within the earth, including oil, gas, minerals, gravel, sand, rock and earth, shall not be permitted within the limits of Pinyon Peaks Subdivision. Individual wells shall not be permitted on any lot, and no Owner shall be permitted to drill for water on his lot, unless prior approval shall have been obtained from the Architec- tural Committee. 6. Trees. No Owner shall remove any healthy, living trees without first having obtained the approval of the Architec- tural Committee. All construction, landscaping and development on any lot shall seek to minimize the removal of trees and to preserve the natural trees and v-agetation to the greatest extent possible. 7. Shiny Materials. No building or improvements shall contain exterior roofs or siding materials which are reflective or shiny. 8. Hunting. Hunting shall be prohibited within the Subdivision. With the approval of the Homeowners Association, a lot Owner may, consistent with the requirements of law, destroy or remove wildlife which constitutes a nuisance. ARTICLE VI Restrictions on Lots 1. Number and Location of Buildings. No buildings or uses shall be placed, erected, altered or permitted to remain on any lots except as approved by the Architectural Committee. 2. Completion of Construction. Any construction activity on any lot in Pinyon Peaks Subdivision shall be completed, fully cleaned up, and landscaped within eighteen (18) months from the issuance of a building permit, or shall obtain a variance from the Architectural Committee to allow for a longer period of construction upon proof of due diligence. In the event a variance is not secured and eighteen (18) months from issuance of a building permit has passed, the Association may assess penalties in any amount it deems appropriate. 3. Used or Temporary Structures. No used or previously erected or temporary house, structure, mobile home or trailer is permitted in the Subdivision. This prohibition shall not apply to construction trailers which shall be permitted for eighteen (18) months or the issuance of a certificate of occupancy, whichever first occurs. Provided, however, construction trailers may only be used for construction, office and storage purposes and shall not be occupied as a residence. 9 B1BtrY, 761 F! E 62 4. Enclosure of Unsightly Facilities and Equipment. All unsightly structures, facilities, equipment and other items, including but not limited to those specified below, shall be enclosed within a solid, covered structure. Any motor home, trailer, boat, truck, tractor, snow removal or garden equipment, and any similar items shall be kept at all times, except when in actual use, in an enclosed garage. Any refuse or trash containers, utility meters, propane tanks, fuel storage tanks or other facilities, service area, or storage pile shall be enclosed within a structure or appropriately screened from view by planting or fencing approved by the Architectural Committee and adequate to conceal the same from neighbors, streets and private roads. No lumber, metals, bulk materials, scrap, refuse or trash shall be kept, stored or allowed to accumulate on any lot except building materials during the course of, construction and only for such reasonable periods of time as are necessary prior to the collection of or disposal thereof. 5. Noxious or Offensive Activity or Sounds. No noxious or offensive activity or sands shall be carried on upon any portion of Pinyon Peaks Subdivision at any time nor shall anything be done or permitted which may be or become a nuisance to other property or to the Owners thereof by sight or sound. 6. Firearms. The discharge or shooting of firearms is prohibited in Pinyon Peaks Subdivision except as may be permitted by rules and regulations promulgated by the Beard of Directors of the Association. 7. Commercial Activities Prohibited. No commercial activities shall be permitted on any lot in the Subdivision. The storage of materials, goods, equipment and other items used or associated with commercial activities shall not be permitted on any lot in the Subdivision. Provided, however, personal vehicles with a business name placed thereon shall not be prohibited. Subject to approval of the Homeowners Association, Owners shall be permitted to maintain an office within their residences so long as it does not provide services to the public which result in the public coming to such residence on a regular basis. 8. General Restriction. All lots in the Subdivision shall comply with restrictions contained in any other section of these Protective Covenants. ARTICLE VII Collection of Assessments - Enforcement 1. Assessments. All lot Owners shall be obligated to pay any assessments lawfully imposed by the Board of Directors of the Association. To the extent the Association is responsible therefor, assessments may be lawfully imposed for any items of 10 r^vr 761 P'r€ 63 common expense which may include, among other things: the provision of water to the lots which shall be metered; expenses and costs of maintaining, repairing, and plowing of roads within and accessing the Subdivision; expenses for maintaining, improving, and preserving the Association's common property; expenses of the Architectural Committee; and insurance, accounting and legal functions of the Association. The Board of Directors may establish contingency and reserve funds for the maintenance and improvement of the Association's common property and any other anticipated costs and expenses of the Association to be incurred in pursuit of its purpose. Contingency and reserve funds shall be in such an amount as the Board of Directors may deem necessary and appropriate for the aforesaid purposes. Each Owner shall be required to pay his pro rata portion of these funds. As used herein, an Owner's pro rata portion of common expenses shall mean a fraction formed by the number of lots purchased and held by the lot Owner (num- erator) and the number of lots in the Subdivision (denominator). The Board of Directors shall have the right during any calendar year to levy and assess against all of the Owners a special assessment for such purpose or purposes, in accordance with these Covenants, or the Articles or By -Laws of the Association, as may be necessary. Such special assessment shall be paid for in equal portions by the Owners obligated to pay such assessment and shall be due and payable as determined by the Board of Directors. 2. Lien for Non -Payment of Assessments. All sums assessed by the Board of Directors, including without limitation, the share of common expense assessments chargeable to any lot Owner, any fines which may be levied on a lot Owner and unpaid common utility fees and assessments charged to a lot Owner shall constitute a lien against such lot superior (prior) to all other liens and encumbrances, excepting only: (a) Tax and special assessment liens on the lots in favor of any governmental assessing unit; and (b) All sums unpaid on a first mortgage of record, including any unpaid obligatory sums as may be provided by encumbrance. If any assessment shall remain unpaid after thirty (30) days after the due date thereof, such unpaid sums shall bear interest from and after the due date thereof at the maximum rate of interest permitted by law, or at such rate as is determined by the Board of Directors, and the Board of Directors may impose a late charge on such defaulting Owner as may be established by the Board. In addition, the Board of Directors shall be entitled to collect reasonable attorneys' fees incurred in connection with any demands for payment and/or collection of delinquent assessments. To evidence such lien, the Board of Directors shall prepare a written notice setting forth the amount of such unpaid indebted- ness, the name of the Owner of the lot and its legal description. 11 b fl P E 64 Such a notice shall be signed by one (1) of the Board of Directors and shall be recorded in the officer of the Clerk and Recorder of the County of Garfield, Colorado. Such lien may be enforced by foreclosure of the defaulting Owner's lot by the Association in like manner as a mortgage on real property, upon the recording of a notice of claim thereof. In any such foreclosure, the Owner shall be required to pay the costs and expenses of such proceed- ings, the costs and expenses for filing the notice or claim of lien and all reasonable attorneys' fees. The Owner shall also be required to pay to the Association any additional assessments against the lot during the period of foreclosure, and the Associa- tion shall be entitled to the appointment of a receiver to collect the same. The Board of directors, for the Association, shall have the power to bid on the lot at foreclosure sale and acquire and hold, lease, mortgage and convey same. The Association, at its election, and in addition to any other remedies it may have at law or in equity, may also sue an Owner personally to collect any monies owed the Association. (c) Each Owner hereby agrees that the Association's lien on a lot for assessments has hereinabove described shall be superior to the Homestead Exemption provided by C.R.S. S38-41-201, et seq., and each owner hereby agrees that the acceptance of the deed or other instrument of conveyance in regard to any lot within Pinyon Peaks Subdivision shall signify such grantee's waiver of the homestead right granted in said section of the Colorado Statutes. (d) Any recorded lien for non-payment of the common expenses may be released by recording a release of lien executed by a member of the Board of Directors. 3. Enforcement Actions. The Association, acting by and through its Board of Directors, shall have the right to prosecute any action to enforce the provisions of all of these Covenants by injunctive relief, on behalf of itself and all or part of the Owners of the lands within Pinyon Peaks Subdivision. In addition, each Owner of land within Pinyon Peaks Subdivision, including the Association, shall have the right to prosecute any action for injunctive relief and for damages by reason of any violation of these Covenants. The prevailing party in any enforcement action shall be entitled to an award of its reasonable costs and attor- neys' fees. The Board of Directors shall be entitled to assess penalties for late payment of assessments due the Association and to collect interest thereon at rates to be determined from time to time by the Board of Directors. 4. Limitations on Actions. In the event any construc- tion or alteration or landscaping work is commenced upon any of the lands in Pinyon Peaks Subdivision in violation of these Covenants and no action is commenced within one (1) year thereafter to restrain such violation, then injunctive or equitable relief shall 12 i Bn-Y 711 � i be denied, but an action for damages shall still be available to any party aggrieved. This one (1) year limitation shall not apply to injunctive or equitable relief against other violations of these Covenants, ARTICLE VIII Easements 1. Easements Shown on Plat. The Association is entitled to use such easements as are reflected on the final Plat for the Subdivision. Except by agreement with a property Owner, the Association shall have no obligation to pay any amount for the use and enjoyment of such easement. The Association shall pay for the cost of maintaining and repairing any improvements which it places on any easements. 2. Well Easements. The Association is entitled to certain water rights for the construction of wells within the Subdivision as is reflected in Case No. 79CW97, which was adjudi- cated on October 15, 1980 in the District Court in and for Water Division No. 5. The Association is granted easements for the construction of such wells and for the construction and location of well houses, water lines and other equipment and improvements necessary to utilize such water rights. Additionally, the Association may construct augmentation ponds as required by the Augmentation Plan on such locations as are reflected on the final Plat of the Subdivision. 3. Easements for Access and Repairs. The Association shall be entitled to an easement across any of the lots within the Subdivision for the purposes of accessing any of the Association's property, protecting any Association property or for necessary repairs or emergency circumstances. The Association may access all lots within the Subdivision to determine compliance with the conditions of approvals of the Subdivision granted by the Garfield County Commissioners and to determine and enforce compliance with all of the provisions of these Covenants. ARTICLE IX Insurance 1. Types of Insurance. The Association shall obtain and keep in full force and effect the following insurance coverage: (a) The Board of Directors, at its elect to secure fidelity coverage against the employees, destruction or disappearance of money or forgery. This policy shall also cover persons Association without compensation. discretion, may dishonesty of securities, and who serve the (b) Coverage for members of the Board and officers of the Association, including committee members, against libel, 13 1312-K ` G nrIE. slander, false arrest, invasion of privacy, and errors and omissions, and other forms of liability generally covered in officers and directors liability policies. (c) Coverage against such other risks of a similar or dissimilar nature as the Board deems appropriate. ARTICLE IX General Provisions 1. Covenants to Run. All of the covenants contained in this instrument shall be a burden on the title to all of the lands in Pinyon Peaks Subdivision, and the benefits thereof shall inure to the Owners of the lands in Pinyon Peaks Subdivision and the benefits and burdens of all said covenants shall run with the title to all of the lands in Pinyon Peaks Subdivision. 2. Termination of Covenants. In the event these Covenants have not been sooner lawfully terminated pursuant to any applicable laws of the State of Colorado and Pitkin County, Colorado, and the provisions herein contained, these Covenants may be terminated on January 1 of the year 2036 by a vote of seventy- five percent (75%) of the votes entitled to be cast by the members of the Association. If these Covenants are not so terminated, then they shall continue to be in full force and effect for successive twenty-five (25) year periods unless, at the close of a twenty-five (25) year period, the Covenants are terminated by a vote of seventy-five percent (75%) of the votes entitled to be cast by the members of the Association at a meeting of the members duly held. IN the event of any such termination by the members, a properly certified copy of the resolution of termination shall be placed on recorded in Pitkin County, Colorado, not more than six (6) after the meeting at which such vote is cast. 3. Amendment of Covenants. These Covenants may be amended by a vote of seventy-five percent (75%) of the votes entitled to be cast by the members of the Association, said vote to be cast at a meeting of the members duly held, provided a properly certified copy of the resolution of amendment be placed on record in Pitkin County, Colorado, not more than six (6) months after said meeting. 4. Severability. Should any part or parts of these Covenants be declared invalid or unenforceable by any court of competent jurisdiction, such decision shall not affect the validity of the remaining covenants. 5. Paragraph Headings. The paragraph headings in this instrument are for convenience only and shall not be construed to be a part of the covenants contained herein. 14 BO *?6i 87 6. Limited Liability. The Association and the Board shall not be liable to any part for any action or for any failure to act with respect to any matter if the action taken or failure to act was in good faith without malice. The Owners severally agree to indemnify the Association and the Board against loss resulting from such action or failure to act if the Association and the Board acted or failed to act in good faith and without malice. IN WITNESS WHEREOF, this Declaration of Protective Covenants for Pinyon Peaks Subdivision has been executed as of the day and year first above written. Declarant: CARBONDALE LAND DEVELOPMENT CORPORATION By Attest: Secretary (r f STATE OF COLORADO COUNTY OF ) ss. Protective Covenants werea�� knowledged and The foregoing signed before me this '" day of August, 1989, by1C-LL55e 1 <- /6*14.)rf f--, of CARBONDALE LAND DEVELOPMENT CORPORATION. WITNESS my hand and official seal. ',My commission expires : 5/ 4 1 ? - Notary PuliYi 15