Vly R Pl LB/FP-CS 880308THE STATE OF TEXAS )
)
COUNTY OF DALLAS )
EXHIBIT A
HOMEOWNER'S AGREEMENT
DEED RECORD
MACARTHUR/BELT
LINE
(swc)
RETAIL
JOINT
YET_URisNtheEowner of property located 'in Dallas
County, Texas, being described on" the plat'attached hereto and made a part hereof and
marked 'Exhibit A".
DUNNING DEVELOPMENT CORP. wan[s to establish reasonable restrictions
on the development and use of the property. For the consideration of the mutual
benefit to the owner and all future owners of the lots within the property, the
following restrictions are placed on every lot and are made a part of every deed.
ARTICLE I
Definitions
The following words, when used in this statement of restrictions and covenants
(unles~ the context shall clearly indicate otherwise), have the following meanings:
A. "Association" means the VALLEY RANCH MASTER & COMMERCIAL ASSOCIATION
B. "City" shall mean the City of Coppell, Texas or its assignees.
C. "Common area" means all of the property designated as a common landscaped
area on the plat attached as "Exhibit A" and includes all screening walls adjacent to
the public R.O.W. adjoining the subdivision for which this document is applicable.
D. "Lots" means the numbered lots as shown on the plat which is attached as
"Exhibit A".
E. "Owner" means the record owner, "whether by foreclosure or otherwise) of
fee simple title to any Lot. ~
'Property' means the real property described above.
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ARTICLE II
Association: Creation~ Membership~ B~laws
Section 1. The Association shall be formed as a non-profit corporation in
accordance with the laws of the State of Texas.
Section 2. All owners shall automatically become members of the Association.
Membersh!p. iQ~.th~ ~sociation is limited to the owners.
Section 3. The Association may adopt by-laws that reasonably regulate the
organization and operation of the Association.
ARTICLE III
'Use and Manaqement of Common Areas
Section 1. Each owner shall have the nonexclusive right of enjoyment and use
of the common areas. This right is an easement and passes with the title to every
lot.
Section 2. The Association shall maintain, repair, and restore all common
areas. The Association shall levy an assessment upon each lot on a pro rata basis
for all costs connected with the maintenance of the common areas.
Section 3. Each assessment is the personal obligation of the owner of each lot
at the time when the assessment is due. The assessment, together with interest and
cost of collection including reasonable attorney's fees shall be a lien on the lot
and on all improvements on the lot.
ARTICLE IV
Rights of the Cit~
Section 1. The City shall have the right to perform the maintenance
obligations of the Association if the Association fails to reasonably perform its
maintenance obligations, and the Association fails to reasonably perform its
maintenance obligations within ten (10) days after receipt by the Association of
written .notice from the..Ci~y ~tating the nature and extent of the Association's
failure to maintain common areas.
Section 2.
assessments.
Upon assuming the maintenance obligation, the City may collect all
Section 3. When the City assumes the maintenance obligation, the City shall
have the right of access 'to maintain the common areas. The Association shall
indemnify and hold the City harmless from any and all costs, expenses, suits,
demands, liabilities, damages, or otherwise including attorney's fees and costs of
suit, in connection with the City maintaining the common areas.
Section 4. When th~_ C~ty assumes t~e..maintenance obligation, the Association
shall not collect any assessments, and shall have no authority to perform the
maintenance obligations. The Association may collect assessments and resume its
duties to maintain the common areas when it presents to the City substantial evidence
of its willingness and ability to resume its maintenance obligations.
ARTICLE V
Duration
Section 1. These restrictions shall be binding for a period of twenty-five
(25) years from the date of this agreement and shall automatically be extended for
successive ten {10) year periods unless a written instrument vacating or modifying
the agreement is signed by the Mayor and all owners, and filed in the
Deed Records at the owners' expense.
Section 2. The Coppell City Council after recommendation by the Planning and
Zoning Commission may by resolution filed in the Deed Records terminate this
agreement if the Council finds physical conditions of the property and the
surrounding area have substantially changed to warrant the termination of this
agreement. The Mayor shall give notice to each owner not less than ten (10) days
before the date set for the Planning and Zoning Commission hearing and the City
Council hearing by depositing the notice property addressed and postage paid in the
United States Post Office to each owner as the ownership appears on the last approved
City Tax Roll.
EXECUTED ON THIS 8 day of March, 1988
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