AGREEMENT
Between Owners of Units numbered 1, 2, 3, and 4 in
a Multiple Building Known as: Quadraplex North
located on land leased from
THE COMMUNITY LAND TRUST IN THE SOUTHERN
BERKSHIRES, INC.
at Forest Row, Christian Hill, Great Barrington,
Massachusetts
The
undersigned in consideration of the mutual promises and agreements herein and
the parties' reliance thereon, being owners of units in a multi-unit dwelling
in "Forest Row," so-called, being a Planned Unit Residential Development
(PURD) owned by Community Land Trust in the Southern Berkshires, Inc.
(hereinafter referred to as CLT) hereby agree to the following regarding
ownership and use of said multi-unit dwelling and the curtilege relating
thereto.
1). The
parties agree to enter individually (as to each unit) into a lease with CLT for
the land upon which their respective units are located. The parties agree that in the event a
party is in default under said CLT lease, the parties hereto not in default
shall have a right of first refusal to succeed to the lease interest of such
defaulting party. Such right of
first refusal is subject to the rights of the mortgage holder, if any, of such
defaulting party and to the rights of the CLT. As to the area surrounding and appurtenant to the structure
embracing the said units, including the parking area, all as shown on the site
plan, the parties agree to mutually maintain and care for said area, to keep
same in a clean and well-cared for state; and to do same in a manner promoting
safety and consistent with other sites in the Forest Row development.
2). For
purposes of facilitating resolution of issues and concerns joint to the use of
said premises and said units, the parties hereto agree to meet from time to
time as a unit association to discuss issues relating to their use and
ownership of said units and to adopt regulations relating to such use and costs
relating to same. With regard to
the use and care of the premises of the undersigned, a meeting may be held upon
request of any two parties, such request to be upon reasonable notice. Decisions relating to use and care of
the premises of the undersigned, not otherwise controlled by other agreements,
shall be by a majority vote, each dwelling unit being entitled to one
vote. No such decision shall
impair or be in conflict with the said lease with CLT. The parties hereto stipulate that their
unit association is not a partnership and the parties have no intent of
creating partnership rights and liabilities.
3). The
parties agree to share equally joint costs, providing that no aggregate
expenditures in excess of $250.00 in any one calendar year shall be made for
such joint work without the vote or assent of the majority of the unit
association, in accord with its rules and regulations.
4). The
parties shall designate a secretary to keep records of the unit association;
and the parties shall select a treasurer to hold funds of the unit association.
5). The
unit association shall discuss from time to time the advisability of
maintaining singular or coordinated insurance policies, as to the building
containing the parties' units and as to premises liability insurance.
6). Any
party selling or otherwise conveying his/her/their interest in said premises
shall give the transferee notice of the rules and regulations of the unit
association; the parties agree further to provide guests and invitees
reasonable notice/explanation of the unit association's rules and regulations,
as such may pertain to such guests and invitees.
7). Any
common expense not paid by a party hereto (or his/her successor in
interest) shall be deemed a lien
against the equity interest of such party, and this agreement shall be evidence
of such rights in the parties to secure their claim for such contribution to
common expenses.
8). In
the event a party ceases to be the owner of a unit, such party shall be
entitled to receive from the treasurer of the unit association his/her/their pro-rata
share of any funds held by the unit association treasurer.
9). The
parties agree that no unit owner shall make a material change to the exterior
of the common building unless same is approved by the unit association by a
majority vote.
10). The
parties agree that no unit owner shall make any interior change which may
adversely affect the health and well-being of the other adjacent unit owners;
nor shall any unit owner permit upon the premises (including within each unit)
illegal acts or such other acts which may adversely affect the health and
well-being of the other adjacent unit owners.
11).
This agreement may be amended only by a vote, duly noticed, of at least
75% of the eligible votes in the affirmative and no such vote shall be or
result in acts detrimental to the economic value of the units.
12). Any
conflicts or disputes arising among unit owners shall be resolved by
arbitration, which arbitration shall be in accord with the arbitration
procedures of the CLT lease (to which the parties hereto are lessees).
Executed this _________
day of _____________ 2____.
Name
(s) Owner
(s) of unit #s
___________________________ ___________________________