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HomeMy WebLinkAbout02-19 Deed160 0113 4102 DECLARATION OF CONDOMINIUM FOR CB VENTURES LAND CONDOMINIUM c ry N This Declaration is made as of this 14� r _ day of �/pre�bb—, 2016 by CB Ventures LLC, a Virginia limited liability company (the "Declarant"). RECITALS A. Declarant `is the owner of the fee simple interest in certain land and improvements constructed thereon, and all easements, rights and appurtenances belonging thereto located in Frederick County, Virginia, and more particularly described in Exhibit "A" attached to and made a part of this Declaration (hereinafter called the "Submitted Land"). B. Summit Community Bank, having a mailing address at P.O. Box 179, 310 North Main Street, Moorefield, West Virginia 26836 ("Mortgagee") is the owner and holder of that certain Credit Line Deed of Trust ("Deed of Trust") by and between Mortgagee and Declarant, which Deed of Trust is dated December 8, 2015 and recorded among the land records of Frederick County, Virginia as Instrument No. 150012100, from the Declarant, unto Dennis Snyder and Garth Kunkle, as Trustee ("Trustee") securing the Mortgagee. C. Declarant desires to subject the Submitted Land to a condominium regime pursuant to the Virginia Condominium Act, Title 55, Section 79.39 et seq. of the Code of Virginia, 1950 Edition, as amended (hereinafter called the "Act" or the "Condominium Act'). D. Mortgagee and Trustee consent to the submission of the Submitted Land to the Condominium Act and to the terms and conditions of this Declaration and desire to join in this Declaration to evidence such consent. E. Pursuant to § 55-79.58 of the Condominium Act, there is attached to this Declaration and by reference made a part hereof, and filed for record herewith, marked Exhibit "D", a certain condominium plat and plan entitled "CB VENTURES LAND CONDOMINIUM EXHIBIT D CONDOMINUM PLAT & LAND UNITS" made by Greenway Engineering, Inc., dated October 4, 2016 and consisting of 4 sheets. Now, THEREFORE, Declarant hereby submits the Submitted Land to the provisions of the Condominium Act, and this Declaration hereby creates an expandable and contractible condominium. -o ARTICLE 1 w DEFINITIONS w Unless the context shall plainly require otherwise, the following terms when used in this Declaration and all exhibits attached to this Declaration shall have the following meanings: Section 1.1 "Building Condominium" means any condominium regime (other than the Land Condominium established pursuant to this Declaration) which may be established with respect to one or more Land Units and/or Land Unit Buildings pursuant to the Condominium Act. Section 1.2 "Building Condominium Association" means the unit owners association of any Building Condominium that may be subsequently established. Section 1.3 "Building Condominium Board" means the governing body of a Building Condominium Association or its duly authorized representative. As set forth in Sections 1.19 and 6.9 of this Declaration, each Building Condominium Board shall have the sole authority to act as the Unit Owner under the Land Condominium Instruments with respect to the Land Unit or Land Units which are included within its respective Building Condominium. Section 1.4 "Bylaws" means the Bylaws attached to this Declaration as Exhibit "B", as the same may be amended from time to time. Section 1.5 "Common Elements" has the meaning ascribed to it in Section 2.5(b). Section 1.6 "Declarant' means CB Ventures LLC, a Virginia limited liability company. Section 1.7 "Declaration" means this document and all exhibits attached hereto, as amended from time to time. Section 1.8 "Eligible Mortgagee" means a holder of a First Mortgage on an entire Land Unit who has submitted a written request to the Unit Owners Association for notice of amendments to the Land Condominium Instruments or other significant matters which would affect the interests of such mortgagee. Section 1.9 "First Mortgage" means the Mortgage with priority over all other Mortgages recorded against a Land Unit. Section 1.10 "Land Condominium" means the condominium regime created by the recordation of this Declaration, the Bylaws, and the Land Condominium Plat, as any of the foregoing may be amended from time to time. Section 1.11 "Land Condominium Instruments" means this Declaration, the Bylaws, and the Land Condominium Plat, as the same may be amended from time to time. E Section 1.12 "Land Condominium Plat" means the plat referred to as Exhibit "D" of this Declaration. Land Condominium Plat shall also include any amendments thereof, made and recorded in accordance with Section 55-79.58 of the Act. o Section 1.13 "Land Records" means the Clerk's Office of the Circuit Court of ry Frederick County, Virginia. c— Section 1.14 "Land Unit" means an area described as such in this Declaration and shown as such on the Land Condominium Plat. "Land Unit" is sometimes also referred to as a "Unit". Section 1.15 "Land Unit Building" means the building or, collectively, the buildings, erected or to be erected within any Land Unit. Section 1.16 "Mortgage" means any deed of trust, mortgage, or other security instrument constituting a lien against a Land Unit. Section 1.17 "Mortgagee" means the holder of or beneficiary under a Mortgage. Section 1.18 "Officers" means any persons elected or appointed as officers of the Unit Owners Association in accordance with Article 3 of the Bylaws. Section 1.19 "Owner" and "Unit Owner" mean any natural person, corporation, partnership, limited liability company, association, trust, or other entity, legally capable of holding title to real property, that owns fee simple title to an entire Land Unit; provided, however, that any natural person, corporation, partnership, limited liability company, association, trust, or other legal entity that holds such an interest solely as security for the performance of an obligation shall not be an Owner solely by reason of that interest. From and after the time any Land Unit is subjected to a Building Condominium, the terms "Owner" and "Unit Owner" shall instead refer to the Building Condominium Association of each Building Condominium; provided, however, that all rights and obligations of such Building Condominium Association in its capacity as a Unit Owner shall be exercisable solely by the Building Condominium Board of such Building Condominium, or such Building Condominium Board's designated representative. Section 1.20 "Percentage Interest" means the undivided percentage ownership interest appurtenant to each Land Unit with respect to the Common Elements and also represents that Unit Owner's voting percentage on the Unit Owners Association. In accordance with Section 55-79.55 of the Act, each Land Unit in the Land Condominium is assigned a Percentage Interest based on the square footage of the surface of the land contained within such Land Unit, as such percentages are set forth in Exhibit "C" attached hereto. Section 1.21 "Percent of the Owners" means, for any specified percentage, the Owners of Land Units to which that percentage of the aggregate votes in the Unit Owners Association appertain. Section 1.22 "Submitted Land" has the meaning ascribed to it in Exhibit "A" of this Declaration and includes all of the Land Units and Common Elements. Section 1.23 "Unit" has the meaning ascribed to it in Section 1.14 above. Section 1.24 "Unit Development" has the meaning ascribed to it in Article 3 of this Declaration. -77 O Section 1.25 "Unit Owner" has the meaning ascribed to it in Section 1.19 above. c.) ry Section 1.26 "Unit Owners Association" means the unincorporated entity cn comprised of all Unit Owners. ARTICLE 2 CREATION OF CONDOMINIUM REGIME; EXPANSION OR CONTRACTION OF CONDOMINIUM Section 2.1 Name of Condominium. This condominium shall be known as "CB Ventures Land Condominium". Section 2.2 Submission of Submitted Land to the Condominium Act. The Submitted Land is hereby subjected to, and shall hereafter be held, conveyed, divided, subdivided, leased, rented, occupied, improved and encumbered in accordance with the Condominium Act and the covenants, restrictions, uses, limitations, obligations, easements, equitable servitudes, charges, and liens set forth in this Declaration, including the Bylaws (a copy of which is attached to and made a part of this Declaration as Exhibit "B"), all of which are declared and agreed to be in aid of a plan for the subjecting of the Submitted Land to a condominium regime pursuant to the Condominium Act, and all of which shall be deemed to run with and bind the land, and shall inure to the benefit of and be enforceable by any person or entity acquiring or owning any interest or estate in the Submitted Land, including, without limitation, all present and future Owners and Mortgagees. All present and future Owners shall be subject to, and shall comply with, the provisions of this Declaration and the Bylaws. The acceptance of a deed of conveyance, the entering into of a lease or the entering into occupancy of any portion of a Land Unit shall constitute an agreement that the provisions of this Declaration and the Bylaws are accepted and ratified by such Owner, lessee or occupant and all of such provisions shall be enforceable equitable servitudes and covenants running with the land and shall bind any person having at any time any interest or estate in such Land Unit or portion thereof, as though such provisions were recited and stipulated at length in each and every deed of conveyance or lease thereof. Section 2.3 Units; Percentage Interests. Pursuant to Section 55-79.55 of the Condominium Act, each of the Land Units in the Land Condominium has been allocated a Percentage Interest based on the square footage of the surface of the land contained within such Land Unit, as such percentages for the Submitted Land are set forth in Exhibit "C" attached hereto. If the Condominium is expanded by the creation of additional Land Units, the Percentage Interests of all Units will be recalculated on the basis of the square footage of the surface of the land contained within each Land Unit. Each Land Unit shall have, as an appurtenance to that Land Unit, a voting interest in the Unit Owners Association equal to the Percentage Interest for such Land Unit. The locations of the Land Units are shown on the Land Condominium Plat. Each Land Unit G consists of the area so identified on the Land Condominium Plat. CO N Section 2.4 Dimensions of Land Units. The dimensions of the Land Units are n' as shown on the Land Condominium Plat. The vertical boundaries of each Land Unit shall be the vertical planes of the boundary lines described by. metes and bounds extended to intersections with each other, as indicated on the Land Condominium Plat. There are no upper and lower boundaries of a Land Unit. Section 2.5 Common Elements. (a) Ownership. Each Owner shall be the owner of an undivided interest as a tenant-in-common in the Common Elements. The Common Elements shall remain undivided and shall remain appurtenant to the designated Land Unit(s). No Unit Owner or any other person shall bring any action for partition or division thereof. (b) Common Elements. The Common Elements consist of the areas specifically designated as "Common Element' on the Land Condominium Plat, and any improvements and facilities, if any, located thereon. Section 2.6 Option to Expand Condominium: Declarant hereby expressly reserves unto itself and/or its successors and assigns, the option and right to expand this Land Condominium pursuant to Sections 55-79.54(c) and 55-79.63 of the Condominium Act and subject to the provisions of this Section. (a) The option to expand shall be at the sole option of Declarant and shall not require the consent of any Land Unit Owner or Mortgagee; provided, however, if the Declarant is not the owner of the Additional Land, then the record owner of such land must provide its written consent. (b) This option to expand the Condominium shall expire ten (10) years after the date of recording of this Declaration if not sooner exercised (or such longer period as may be permitted pursuant to the Condominium Act); however, Declarant may, at any time prior to the expiration of such period, terminate its option to expand by recording among the Land Records an executed and notarized document terminating this option. (c) The metes and bounds description of the properties which may be added to this Land Condominium, if any, is set forth in Exhibit "A-1" and hereinafter referred to as "Additional Land". (d) Declarant expressly reserves the right to add any or all portions of the Additional Land at any time, or at different times, in any order, without limitation; provided, however, that the Additional Land shall not exceed the total area of all that land described in Exhibit "A-1" attached hereto. The Additional Land is graphically depicted on Exhibit "D", attached hereto and made a part hereof. 5 (e) The Declarant makes no assurances as to the location or type of Land Units or improvements on the Additional Land. Such improvements, if any, need not be compatible in the quality of construction, the principal materials to be used, or c architectural style with the improvements on the Submitted Land. C:D W rQ (f) The maximum percentage of aggregate land and floor area of all Land Units that may be created on the Additional Land that may not be restricted exclusively to residential use, if such Additional Land is added to this Land Condominium, is one hundred percent (100%). (g) The allocation of Percentage Interest for Land Units created on the Additional Land shall be based upon the square footage of the surface of the land contained within each Land Unit. Therefore, in the event that the Condominium is expanded to include any portion of the Additional Land, the Percentage Interests of all Land Units in the Land Condominium shall be reallocated with the Percentage Interest of each Land Unit then included in the Land Condominium based on the square footage of the surface of the land contained within each Land Unit. (h) In the event Declarant determines to exercise its option to expand, in addition to such other easements or rights it may have reserved, Declarant shall have the easements as set forth in Section 55-79.65 of the Condominium Act. ARTICLE 3 LAND UNIT DEVELOPMENT AND COOPERATION; SUBDIVISION OF LAND UNITS; EASEMENTS Section 3.1 Land Unit Development and Cooperation. (a) Each Unit Owner may construct, reconstruct, repair and/or modify any Land Unit Building and other improvements upon its Land Unit to the extent permitted by and in strict accordance with the provisions of this Declaration, the Bylaws, and applicable law. Each Unit Owner shall have the right to conduct future construction and development activities and/or make changes in the use of the Land Unit Building and other improvements within its Land Unit (referred to collectively as "Unit Development" herein), including, but not limited to, the right to subject its Land Unit and Land Unit Building to the provisions of the Condominium Act for the purposes of forming a Building Condominium. No part of a Land Unit Building or other improvements located on a Land Unit shall be considered to be part of the Common Elements of the Land Condominium, unless agreed otherwise in writing by all Owners. Notwithstanding the foregoing, in no event shall any Unit Owner cause or permit any actions with respect to its Land Unit that would result in any portion of the Submitted Land being in violation of applicable zoning laws and subdivision regulations. (b) Subject to the provisions of this Declaration and the Bylaws, each Owner shall cooperate with each other Owner in any construction, reconstruction, improvement, development, use, subdivision or consolidation of such other Owner's Land Unit which is in accordance with the Condominium Act, this Declaration, the Bylaws, and all other applicable recorded documents, laws and regulations affecting the Submitted Land. Without limiting the generality of the foregoing, upon written request by any Owner (the "Requesting Owner"), any other Owner (the "Cooperating Owner") shall execute, join in, and in good faith support, any and all applications, approvals, permits, easements and similar instruments of any kind whatsoever as may be deemed C� necessary or desirable by the Requesting Owner, in its sole discretion, in connection r with the Requesting Owner's Unit Development; provided, however, that (i) the c�o Requesting Owner shall defend, indemnify and hold the Cooperating Owner harmless from and against any and all liability, cost and expense in connection with third party claims, (ii) such cooperation shall not cause the then existing or proposed Unit Development of the Requesting Owner to be in violation of or otherwise not be in conformance with zoning requirements and applicable laws and regulations, and (iii) such cooperation shall not materially and adversely interfere with the planned or actual use or operation of the Land Unit Building or other improvement within the Cooperating Owner's Land Unit. Any easements or similar instruments granted pursuant to this subsection shall be granted without consideration (c) Subject to the provisions of this Declaration and the Bylaws, each Owner shall reasonably cooperate with each other Owner in connection with any and all amendments to this Declaration, the Bylaws or the Land Condominium Plat as may be necessary to reflect any Unit Development done in accordance with this Article and as may be deemed necessary or desirable by the Unit Owners to properly reflect the agreement of the Unit Owners with respect to the ownership, maintenance, operation and use of the Property (the "Unit Development Amendments"). (d) The Land Units may be used for any purposes that are in compliance with applicable zoning ordinances of Frederick County, Virginia, and this Declaration. (e) The Owner of each Land Unit shall be permitted and shall have the unqualified right to file with respect to the Land Unit owned by it (or any portion thereof), and without the joinder or consent of the other Land Unit Owners, such applications for any amendment to the land use approvals applicable to the Land Unit, including but not limited to amendments seeking (i) a change of the use of a Land Unit, or (ii) the increase or decrease in the gross floor area permitted on its Land Unit provided that any such request: (x) does not decrease the allowable gross floor area of any other Unit Owner; (y) does not result in any material change or modification to either the location or basic design of the Common Elements; or (z) does not result in any modifications of any parking requirement of any other Unit Owner. Section 3.2 Subdivision of Land Units. Subject to the express requirements of this Declaration and the Bylaws, an Owner may subdivide its Land Unit or adjust the boundary lines between their Land Units at any time or times in accordance with the procedures set forth in the Condominium Act, and without the consent of unaffected Unit Owners or the Unit Owners Association. Upon such subdivision or relocation of boundary lines, the Percentage Interest appurtenant to such Land Units shall be recomputed in accordance with the procedures set forth in this Declaration and the Condominium Act. 7 Section 3.3 Easements for Common Elements. Each Owner is hereby granted a non-exclusive easement, right-of-way and license over and through the Common Elements for the purpose of pedestrian and vehicular use, as applicable. c� Section 3.4 Easements to Facilitate Development. The Unit Owners c Association, and any persons authorized by the Unit Owners Association, is hereby r� granted the right of access over and through any portion of the Submitted Land �a (excluding any occupied building), in the exercise and discharge of their respective powers and responsibilities, for which the Unit Owners Association is responsible for upkeep. Section 3.5 Limitations on Exercise of Rights and Easements. (a) Notice. The Unit Owners Association (when exercising easement rights granted or reserved hereunder) shall give reasonable prior notice to all affected Unit Owners, unless an emergency exists which precludes such prior notice (in which event prompt subsequent notice shall be given). (b) Limitations on Disturbance. The Unit Owners Association (when exercising easement rights granted or reserved hereunder) shall: (i) Minimize any economic or aesthetic injury to the affected Land Units or the Common Elements; (ii) Do any work promptly and as expeditiously as possible; (iii) Not unreasonably interfere with any affected Land Unit Owner's use of its Land Unit or the Common Elements, or with the Unit Owners Association's use of the Common Elements; (iv) Not materially interfere with vehicular or pedestrian access to or on any Land Unit or within the Submitted Land, without prior approval of the Land Unit Owner of the affected Land Unit; (v) To the extent practicable, limit any upkeep within an easement area to non -business hours with respect to the affected Land Unit and not block access to the parking lots or buildings located on the Land Unit; (vi) Not change the elevation of any other Land Unit without the prior written approval of the Land Unit Owner of the Land Unit, nor change the grade of any Land Unit owned by others without the prior written approval of the Land Unit Owner; and (vii) Fully restore any affected sidewalks, pavement, landscaping and similar improvements, and the surface of the land and the surrounding vegetation, to their condition immediately prior to the exercise of such easement (to the extent practicable) as soon as possible. (c) Relocation. if an easement is relocated, the cost of such relocation shall be paid by the party requesting the relocation. (d) Damage. Any damage resulting from the exercise of the aforesaid rights and easements shall be promptly repaired and the site restored to the extent practicable by the person exercising such rights and easements. The cost of such, repair and restoration shall be paid by the person exercising such rights and CD easements. c1a (e) Non -Exclusive and Perpetual. Except as may be otherwise provided CD in this Declaration, all rights and easements created by this section are non-exclusive and perpetual. Section 3.6 Easement Documentation. Each Unit Owner and the Unit Owners Association shall execute, acknowledge and deliver such documents and instruments as any such party shall reasonably request to further evidence the easements granted in this Declaration, including a plat locating any such easement. Section 3.7 Documents In Title. The Submitted Land is expressly subject to all documents in the chain of title to the Submitted Land. ARTICLE 4 INDEMNITIES Each Land Unit Owner (an "Indemnitor") shall defend, indemnify and hold harmless, at its expense, the Unit Owners Association and any other Land Unit Owner (individual, and collectively the "Indemnitee") against and from all claims, demands, liabilities, penalties, damages, actions, suits, expenses and judgments, including reasonable attorneys' fees, which may be imposed upon or incurred by or asserted against any such Indemnitee (i) arising out of the development, construction, use, operation or maintenance by such Indemnitor of any portion of the Submitted Land, unless such damage or injury shall have been caused by the gross negligence or willful act or omission, in whole or in part, of such Indemnitee or any tenants, employees, invitees, contractors or agents of such Indemnitee; or (ii) by any architect, contractor, sub -contractor, engineer, attorney, real estate broker, supplier or any other employee or agent of the indemnitor (each an "Indemnitor Party") and arising out of the development, construction, use, operation or maintenance by such Indemnitor Party of any portion of the Submitted Land, except for specific work or services provided pursuant to a written contract therefor between the Indemnitee and an Indemnitor Party. ARTICLE 5 AMENDMENTS TO DECLARATION Except as otherwise provided herein, this Declaration may be amended only in accordance with the Condominium Act and with the written consent of Land Unit Owners representing not less than fifty-five percent (55%) of the Percentage Interests of the Condominium. Any amendment to this Declaration shall become effective upon its recordation in the Land Records. Notwithstanding the above, each Land Unit Owner covenants and agrees to execute any amendment to this Declaration which is reasonably required or desired and requested by any Unit Owner in order to effectuate the use, maintenance, operation and development of its respective Land Unit in accordance with the terms of this Declaration. Provided, further, the Declarant may unilaterally amend this Declaration, including its exhibits, in order (a) to make any corrections or clarifications; or (b) to comply with any governmental or lender requirements. ARTICLE 6 w MISCELLANEOUS w Section 6.1 Enforcement. (a) The Unit Owners Association and any Land Unit Owner shall have the right to enforce this Declaration and the Bylaws by any proceeding at law or in equity against any person or persons violating any of the same, either to restrain or enjoin violation and/or to recover damages, including reasonable attorneys' fees, and against any Land Unit to enforce any lien created pursuant to this Declaration or the Bylaws. Any breach or violation by any employee, agent, contractor, invitee, tenant, or guest of a Land Unit Owner shall be deemed a violation or breach by and enforceable against such Land Unit Owner. The failure or forbearance to enforce this Declaration or the Bylaws shall in no event be deemed a waiver of the right to do so thereafter. (b) There shall be and there is hereby created and declared to be a conclusive presumption that any violation or breach or any attempted violation or breach of any of the provisions of this Declaration or the Bylaws, as either may be amended from time to time, cannot be adequately remedied by action at law or exclusively by recovery of damages. Section 6.2 Real Estate Taxes and Assessments. All real estate taxes, governmental assessments and other public charges (collectively "Taxes") relating to any Land Unit including, without limitation, any Land Unit Buildings or other improvements constructed thereon, shall be the sole responsibility of and shall be paid prior to delinquency by the Owner of the Land Unit. If any Land Unit is subjected to a Building Condominium regime, the individual owners of units in the Building Condominium shall be responsible for the payment of Taxes in accordance with the governing documents for such Building Condominium. Section 6.3 Severability. The provisions of this Declaration shall be deemed independent and severable, and the invalidity or unenforceability of any provision or portion thereof shall not affect the validity or enforceability of any other provision or portion thereof unless such invalidity or unenforceability shall adversely and materially alter the operation of the Land Condominium. Section 6.4 Captions. The captions and section headings in this Declaration are included only for convenient reference, and in no way define, limit, or describe the scope or intent of this Declaration and shall not be relied upon or used in construing the effect or meaning of any of the provisions of this Declaration. 10 Section 6.5 Applicable Law. This Declaration shall be governed by and construed according to the laws of the Commonwealth of Virginia. CD Section 6.6 Effective Date. This Declaration shall become effective when the Declaration and its exhibits (including the Bylaws and the Land Condominium Plat) have been recorded among the Land Records. Section 6.7 Notices. Except as otherwise provided in this Declaration or the Bylaws, all notices, demands, bills, statements, or other communications under this Declaration and the Bylaws shall be in writing and shall be deemed to have been duly given if delivered personally or three (3) business days after sent by first-class mail (or otherwise as the Condominium Act may permit), (i) if to an Owner, at the Owner's Unit address or such other address as the Owner may designate in writing to the Unit Owners Association; (ii) if to the Unit Owners Association, at the principal office of the Unit Owners Association; (iii) if to a Building Condominium Association or Building Condominium Board, at the principal office of such Building Condominium Association, or at such other address as shall be designated by written notice to the Unit Owners Association in accordance with this Section; or (iv) if to an Eligible Mortgagee, to the address provided to the Unit Owners Association by that Eligible Mortgagee. The name and address of any Mortgagee of a Land Unit shall be provided in writing to the Association by such Unit Owners. Each Unit Owner shall also provide in writing to the Association its address at the time of acquisition of such Land Unit and shall keep such information updated. Section 6.8 Exhibits. All exhibits attached to this Declaration are incorporated into and made a part of this Declaration. Section 6.9 Rights of Building Condominium Board. The provisions of this Declaration and the Bylaws shall be applicable to all Building Condominiums as may be established within the Submitted Land in accordance with the Condominium Act. The rights and obligations of a Unit Owner under the Land Condominium Instruments with respect to a Land Unit or Land Units which are subject to a Building Condominium regime, including the Percentage Interest and voting rights appurtenant to any Land Unit or portion thereof which is subjected to a Building Condominium regime, shall be exercisable as determined by such Unit Owner. Section 6.10 Estoppel Certificate. If reasonably requested by a Mortgagee, prospective purchaser, lessee, or similar party, the Unit Owners Association or any Unit Owner shall execute and deliver an estoppel certificate upon not less than ten (10) days prior request. If applicable, the estoppel certificate shall include a statement certifying that this Declaration, the Bylaws and/or the Land Condominium Plat are unmodified (except as identified in the estoppel certificate) and in full force and effect, describing the dates to which assessments and/or maintenance fees and/or other charges have been paid, representing that, to such party's actual knowledge, there is no default (or stating the nature of the alleged default) and indicating such other matters with respect to this Declaration, the Bylaws and/or the Land Condominium Plat as may reasonably be requested. [SIGNATURE PAGE FOLLOWS] 11 SIGNATURE PAGE -� TO DECLARATION OF CONDOMINIUM w FOR c,a CB VENTURES LAND CONDOMINIUM IN WITNESS WHEREOF, the undersigned, being the Declarant herein, has caused this Declaration to be duly executed as of this Q day of No�emb-"-- , 2016. CB VENTURES LLC By: �// (SEAL) Name: wwLola, A V -#v -,J Title: fv— /Ate.°.-- e - STATE OF V f r wtr,— : to wit -E6 NW OF: L Inco. 6*-& �" c �- I, thaep�rldersigned Notary Public, in and for the jurisdiction aforesaid, do hereby certify that'-I-Ondolph I- C'uo U n , as Blanc.,, I YwmhProf CB VENTURES LLC, whose name is signed to the foregoing instrument, appeared before me and personally acknowledged the same in my jurisdiction aforesaid. GIVEN under my hand and seal this G��h day of 1U0yC1y1X'k 2016. Notary Public NOTARY' My commission expires: (f5 -''3t "IC) PUBLIC ,P __ R17G. #139068 Virginia Notary Registration N ber: 113OCef( _ o MYcoa�nrssroN per. �F1 12 JOINDER c�> MORTGAGEE CONSENT, APPROVAL AND SUBORDINATION w Summit Community Bank, having a mailing address at P.O. Box 179, 310 North Main Street, Moorefield, West Virginia 26836 ("Mortgagee") being the owner and holder of that certain Credit Line Deed of Trust ("Deed of Trust") by and between Mortgagee and CB Ventures LLC, a Virginia limited liability company ("Grantor" and "Grantee"), which Deed of Trust is dated December 8, 2015 and recorded among the land records of Frederick County, Virginia as Instrument No. 150012100, from the Grantor, unto Dennis Snyder and Garth Kunkle,, as Trustee ("Trustee") securing the Mortgagee, in the original principal amount of $446,600.00, does hereby expressly consent to and approve of the agreements between the parties pursuant to this Declaration of Condominium for CB Ventures Land Condominium ("Declaration") and, furthermore, does hereby expressly subordinate to the Declaration all right, title, interest and lien of the undersigned created by virtue of the Deed of Trust with respect to the property described in the Declaration. Except as set forth herein, the Deed of Trust shall otherwise remain in full force and affect. IN WITNESS WHEREOF, the undersigned by its duly authorized and appointed officers, has signed, sealed and d4livered this Mortgagee Consent, Approval and Subordination, this -7'0- day ofN Nj M Ltk , 20 ) Le. BENEFICIARY: SUMMIT COMMUNITY BANK SEAL) Title: I' COMMONWEALTH OF/ 11'R INIA COUNTY O r to wit: I, the undersigned Notary Public, in and for the jurisdiction��ffppresai d hereby certify that \,-roSn -I--yrH(Ck S , as pM iD✓ Wc-e _fsummit Community Bank, whose name is signed to the foregoing instrument, appeared before me and personally acknowledged the same in my jurisdictionaforesaid. Given under by hand his of OFFICIAL SEAL 20� o mission expir - 1 yoF NOTARY PUBLIC 2 STATE OF WEST V SUM F. cuLL�ry egistration Number: A19 PO * MOTCOMMUt4 BANK MOOgER E pX sgp MY rommlHlon expires Febrl,a eaae . - "a4,zolg NOTARY PUBLIC 13 WITNESS the following signatures and seal this _day of NOW -Mb---' 2016. — 1-- (SEAL) Dennis Snyder, Trustee CHERYL C.STOEHR COMMONWEALTH OF VIRGINIA NOTARY PUBLIC �+�� ����� REGISTRATION # 7036376 �/OUNL:f-7 OF Hfj0 `'j O] 6�{�(� to wit: v COMMONWEALTH OF VIRGINIA L i+, j I, the undersigned Notary Public, in and for the jurisdiction aforesaid, do hereby certify that Dennis Snyder, Trustee, whose name is signed to the foregoing instrument, appeared before me and personally acknowledged the same in my jurisdiction aforesaid. Given under by hand this Z"' of ML~ 60-4 20_& My commission expires Notary Registration Number:_ 17,93 LP 37,? 2xe A�r� NOTARY PUBLI TRUSTEE• AA'_ W7_1j (SEAL) Gart le, Trus ee CHERYL C. STOEHR COMMONWEALTH OF VIRGINIA NOTARY PUBLIC JJ ���� J � /� REGISTRATION # 7036378 C- TY OF LLLt1 Vj 4 .SUV ij It - to wit: COMMONWEALTH OF VIRGINIA L -i+4 1 I, the undersigned Notary Public, in and for the jurisdiction aforesaid, do hereby certify that Garth Kunkle, Trustee, whose name is signed to the foregoing instrument, appeared before me and personally acknowledged the same in my jurisdiction aforesaid. Given under by hand this �"H' of A)60e rr 20/� My commission expires fila. -7 c.4, 31, '-)LC Notary Registration Number: r]p3 In `7d' NOTARY PU LIC 14 0 W U) U"1 EXHIBIT "A" Legal Description of the Submitted Land c� Land Unit 1 Beginning at the intersection of the northerly right-of-way line of Amoco Lane — Route 839 and the westerly right-of-way line of Interstate Route 81, also being the most easterly corner of CB Ventures, LLC land as recorded by Instrument No. 150011639; Thence with said northerly right-of-way line of Amoco Lane — Route 839 S 83115'51" W a distance of 45.77 feet; Thence departing said northerly right-of-way line of Amoco Lane — Route 839 and running through said CB Ventures, LLC land the following three (3) courses and distances: 1) N 06144'09" W a distance of 33.00 feet; 2) S 83015'51" W a distance of 41.34 feet; 3) S 32°25'21" W a distance of 31.69 feet to a point in the northerly right-of-way line of Amoco Lane — Route 839; Thence with said northerly right-of-way line of Amoco Lane -- Route 839 N 57°34'39" W a distance of 331.38 feet; Thence departing said northerly right-of-way line of Amoco Lane — Route 839 and running through said CB Ventures, LLC land the following three (3) courses and distances: 1) N 32°25'21" E a distance of 123.39 feet; 2) N 71119'31" E a distance of 180.33 feet; 3) N 24002'26" E a distance of 79.81 feet to a point in the westerly right-of-way line of Interstate Route 81; Thence with said westerly right-of-way line of Interstate Route 81 the following three (3) courses and distances: 1) S 18131'15" E a distance of 210.69 feet; 2) S 18°39'16" E a distance of 111.43 feet; 3) S 08018'09" E a distance of 104.00 feet to the Point of Beginning; Containing 1.8723 acres, more or less. -r� r� C.0 Land Unit 2 Cl) Beginning at a point in the northerly right-of-way line of Amoco Lane — Route 839, also being the most southerly corner of Kremer Properties, Inc. land as recorded in Deed Book 459 Page 744 and Instrument No. 150006027; Thence departing said northerly right-of-way line of Amoco Lane — Route 839 and running with the southeasterly line of said'Kremer Properties, Inc. land the following three (3) courses and distances: 1) N 32°25'21" E a distance of 147.99 feet; 2) S 25006'29" E a distance of 71.85 feet; 3) N 64°53'31" E a distance of 147.09 feet; Thence departing said southeasterly line of Kremer Properties, Inc. land and running through the CB Ventures, LLC land as recorded by Instrument No. 150011639 the following three (3) courses and distances: 1) S 18040'29" E a distance of 159.18 feet; 2) S 71019'31" W a distance of 13.04 feet; 3) S 321,25'21" W a distance of 123.39 feet to a point in the northerly right-of-way line of Amoco Lane — Route 839; Thence with said northerly right-of-way line of Amoco Lane — Route 839 N 57034'39" W a distance of 255.27 feet to the Point of Beginning; Containing 0.9877 acres, more or less. c� Land Unit 3 0 W W Beginning at the most easterly corner of Kremer Properties, Inc. land as recorded in 00 Deed Book 459 Page 744 and Instrument No. 150006027; Thence with the northeasterly line of said Kremer Properties, Inc. land N 2506'29" W a distance of 63.89 feet; Thence departing said northeasterly line of Kremer Properties, Inc. land and running through CB Ventures, LLC land as recorded by Instrument No. 150011639 the following four (4) courses and distances: 1) N 64053'31" E a distance of 79.93 feet; 2) S 6734'31" E a distance of 16.24 feet; 3) N 22°25'29" E a distance of 26.87 feet; 4) S 67034'31" E a distance of 115.26 feet to a point in the westerly right-of-way line of Interstate Route 81; Thence with said westerly right-of-way line of Interstate Route 81 S 18031'15" E a distance of 110.47 feet; Thence departing said westerly right-of-way line of Interstate Route 81 and running through said CB Ventures, LLC land the following three (3) courses and distances: 1) S 24002'26" W a distance of 79.81 feet; 2) S 71019'31" W a distance of 167.29 feet; 3) N 18040'29" W a distance of 159.18 feet to a point in the southeasterly line of said Kremer Properties, Inc. land; Thence with said southeasterly line of Kremer Properties, Inc. land N 64053'31" E a distance of 32.91 feet to the Point of Beginning; Containing 1.0451 acres, more or less. Land Unit 4 Beginning at a point in the southeasterly right-of-way line of U.S. Route 11, also being the most northerly corner of Kremer Properties, Inc. land as recorded in peed Book 459 Page 744 and Instrument No. 150006027; Thence with said southeasterly right-of-way line of U.S. Route 11 N 60°50'11" E a distance of 120.73 feet to a point in the westerly right-of-way line of Interstate Route 81; Thence departing said southeasterly right-of-way line of U.S. Route 11 and running with said westerly right-of-way line of Interstate Route 81 the following two (2) courses and distances: 1) S 67°29'55" E a distance of 136.14 feet; 2) S 18031'15" E a distance of 206.35 feet; Thence departing said westerly right-of-way line of Interstate Route 81 and running through CB Ventures, LLC land as recorded by Instrument No. 150011639 the following four (4) courses and distances: 1) N 67°34'31" W a distance of 115.26 feet; 2) S 221125'29" W a distance of 26.87 feet; 3) N 67°34'31" W a distance of 16.24 feet; 4) S 64°53'31" W a distance of 79.93 feet to a point in the northeasterly line of said Kremer Properties, Inc. land; Thence with said northeasterly line of Kremer Properties, Inc. land N 25006'29" W a distance of 218.13 feet to the Point of Beginning; Containing 1.0415 acres, more or less. =o' G'n w W c� 0 Common Elements W The lower surface (elevation 694 feet NAVD88) and upper surface (elevation 702 feet o NAVD88) of the common element are defined by their respective elevation intersections with vertical lines projected from Earth center through the four ground points described by the following metes and bounds: Beginning at a point being the intersection of the northerly right-of-way line of Amoco Lane — Route 839 and the westerly right-of-way line of Interstate Route 81, also being the most easterly corner of CB Ventures, LLC land as recorded by Instrument No. 150011639; Thence with said northerly right-of-way line of Amoco Lane — Route 839 S 83°15'51" W a distance of 45.77 feet to a point; Thence departing said northerly right-of-way line of Amoco Lane — Route 839 and running through said CB Ventures, LLC land the following two (2) courses and distances: 1) N 061144'09" W a distance of 10.00 feet to a point; 2) N 83015'51" E a distance of 45.50 feet to a point in said westerly right-of-way line of Interstate Route 81; Thence with said westerly right-of-way line of Interstate Route 81 S 08018'09" E a distance of 10.00 feet to the Point of Beginning; Containing a volume of 3,651 cubic feet, more or less. EXHIBIT "A-1", Legal Description of the Additional Land o w None. EXHIBIT "B" -a Bylaws of the Land Condominium > 0 (attached hereto) N -c7 c� CD BYLAWS w OF w UNIT OWNERS ASSOCIATION OF CB VENTURES LAND CONDOMINIUM ARTICLE 1 PLAN OF CONDOMINIUM Section 1.1 The Land Condominium. The Submitted Land described on Exhibit "A" to the Declaration has been established as an expandable condominium pursuant to Chapter 4.2 of Title 55 of the Code of Virginia (the "Condominium Act"). These Bylaws are attached to and made part of the Declaration as Exhibit "B" and are intended by the Declarant to set forth, among other things, a plan by which the affairs of the Land Condominium shall be administered and governed by the Unit Owners Association pursuant to the Condominium Act. Section 1.2 Definitions. In these Bylaws, all capitalized terms shall have the same meanings as designated in the Declaration or in the Condominium Act, unless otherwise expressly provided or apparent from the context. Section 1.3 Applicability of Bylaws. The provisions of these Bylaws are applicable to the Unit Owners Association and to the Land Condominium. All present and future Unit Owners, lessees and occupants of Land Units and Land Unit Buildings, and any other persons who may use the Land Condominium or the facilities of the Land Condominium in any manner, are subject to the Declaration and these Bylaws. The acceptance of a deed of conveyance to any portion of a Land Unit or a Land Unit Building shall constitute an agreement that these Bylaws and the Declaration, as either may be amended from time to time, are accepted, ratified and will be complied with. ARTICLE 2 UNIT OWNERS ASSOCIATION Section 2.1 Purpose and Status of the Unit Owners Association. The purpose of the Unit Owners Association shall be to operate the Land Condominium for the benefit of the Unit Owners and to exercise the powers conferred upon it by the Declaration and these Bylaws. The Unit Owners Association shall be an unincorporated entity, unless the Unit Owners subsequently decided to incorporate. All powers and Page. 1 Page: 2 CD c.0 duties of the Unit Owners Association set forth in the Declaration and these Bylaws shall be exercised solely by the Unit Owners Association; there shall be no Board of Directors for the Unit Owners Association. Section 2.2 Name and Mailing Address. The Unit Owners Association shall be known as "Unit Owners Association of CB Ventures Land Condominium". All notices, demands, requests or communications to the Unit Owners Association shall be mailed to such person and address as determined from time to time by the Unit Owners Association. Initially, the name of the person, and the address, are as follows: Edward P. Browning IV, CB Ventures LLC, 415 W. Cecil Street, Winchester, VA 22601. Section 2.3 Limited Powers of the Unit Owners Association. The Land Condominium has been established for the main purpose of creating Land Units that can each be financed and conveyed. The Unit Owners Association shall have only those powers enumerated in the Condominium Act that are reasonably necessary to effect the foregoing limited purpose of the Land Condominium, or to effect such other matters that are expressly provided for in the Declaration and these Bylaws. Without limiting the scope of matters that are outside of the limited powers of the Unit Owners Association, the Unit Owners Association shall have no authority or obligation to act on behalf of any Building Condominium Association or any unit owner within a Building Condominium in any manner whatsoever, including, without limitation, with respect to any claim, litigation or proceedings related to the construction or warranties of any Building Condominium. Section 2.4 Members. The Unit Owners Association shall have as its members all of the Unit Owners. Section 2.5 Meetings of the Unit Owners Association; Meeting Officers. Meetings of the Unit Owners Association shall be held as required by the Condominium Act or as agreed upon by the Unit Owners. The Unit Owners Association shall designate a person to act as the chairperson of each meeting and shall designate a records secretary to keep the minutes of the meeting and record any votes taken at the meeting. The records secretary may be, but shall not be required to be, a Unit Owner. Section 2.6 Place of Meetings. Meetings of the Unit Owners Association shall be held at the principal office of the Unit Owners Association or at such other suitable place convenient to the members of the Unit Owners Association as may be determined from time to time and designated in the notice of meeting by the Secretary. Section 2.7 Notice of Meetings. It shall be the duty of the Secretary of the Unit Owners Association or such other person designated by the Unit Owners Association to provide notice of each annual meeting of the Unit Owners Association at least twenty-one (21) days, but not more than ninety (90) days, prior to such meeting and to provide notice of each special meeting of the Unit Owners Association at least seven (7) days, but not more than ninety (90) days, prior to such meeting, stating the purpose thereof as well as the time and place where it is to be held, to each Unit Owner of record, at its address shown on the roster maintained by the Unit Owners Association Page: 2 --cir c-� 0 cn (hereinafter called the "Roster"). The mailing of a notice of meeting in the manner provided in this Section shall be considered service of notice as of the date of such mailing. In addition to the mailing of notice of each annual and special meeting, notice may be personally delivered to each Unit Owner at its address as shown on the Roster. Attendance by a member of the Unit Owners Association at a meeting in person or by proxy shall constitute waiver of notice of the time, place and purposes of such meeting. Section 2.8 Adjournment of Meeting. If any meeting of the Unit Owners Association cannot be held because a quorum of members has not attended, the members of the Unit Owners Association holding a majority of votes who are present M such meeting, either in person or by proxy, may adjourn the meeting and call for an additional meeting provided at least fifteen (15) days' notice of the time, place and purpose of the additional meeting is given to all members of the Unit Owners Association. If the additional meeting cannot be held because a quorum of members has not attended, the above provisions of this Section 2.8 shall govern. Section 2.9 Voting. (a) Each Unit Owner, designee of an entity Owner, or, subject to the proxy limitations set forth below and in the Condominium Act, a person designated by each Unit Owner to act as proxy on his behalf (and who need not be a Unit Owner), shall be entitled to cast the vote(s) appurtenant to its Land Unit(s) at all meetings of the Unit Owners Association. The designation of any such proxy shall be made in writing and filed with the Secretary of the Unit Owners Association or other person designated by the Unit Owners Association to receive proxies, in a form approved by the Unit Owners Association, which approval may not be unreasonably withheld, conditioned or delayed, before the appointed time of each meeting. Each proxy shall be revocable at any time by written notice to the person presiding over the meeting by the Unit Owner who so designated the proxy, and shall automatically expire after the first meeting held on or after the date of that proxy or any recess or adjournment of that meeting. Proxies may be utilized to establish a quorum pursuant to Section 2.11 of this Article 2 and may be utilized to vote on any other matter at the meeting of the Unit Owners Association. In the case of a Land Unit which is owned by more than one person or entity, any or all of such Owners may be present at any meeting of the Unit Owners Association and (those constituting the group acting unanimously) may vote or take any other action as a Unit Owner, either in person or by proxy. A fiduciary shall be the voting member with respect to any Land Unit owned in a fiduciary capacity. Where title to a Land Unit is in more than one person or entity, such multiple owners shall be entitled to cast, in the aggregate and as a solid block, the vote allocated to the Land Unit. If such multiple owners shall be unable to agree upon their vote upon any subject at any meeting, they shall either designate a third party to cast their vote or shall lose their right to vote on such subject, but if all of them shall not be present at a meeting, either in person or by proxy, the collective vote of those that were present shall be the vote of all of the Owners of the Land Unit. (b) Except where a greater number is required by the Condominium Act or the Land Condominium Instruments, a Majority Vote is required to adopt Page: 3 c-� CD W 4 -- decisions -decisions at any meeting of the Unit Owners Association. As used in these Bylaws, the M term "Majority Vote" shall mean the vote of those members of the Unit Owners Association having more than fifty percent (50%) of the total authorized votes of all members of the Unit Owners Association present, in person or by proxy, and voting at any meeting of the Unit Owners Association. Section 2.10 Open Meetings. All meetings of the Unit Owners Association shall be open to all members of the Unit Owners Association (and other interested parties in the discretion of the Unit Owners Association or as required by law). Section 2.11 Quorum. Except as otherwise provided in these Bylaws or in the Condominium Act the presence in person or by proxy of members of the Unit Owners Association having sixty percent (60%) of the total authorized votes of all members of the Unit Owners Association constitutes a quorum at all meetings of the Unit Owners Association. Section 2.12 Liquidation Rights. In the event of any voluntary or involuntary dissolution of the Unit Owners Association, each Unit Owner shall be entitled to receive out of the assets of the Unit Owners Association available for distribution to the members thereof, an amount in proportion to its Percentage Interest. With respect to a Land Unit subjected to a Building Condominium, each owner of a condominium unit therein is entitled to a share of the distribution of assets based upon such unit's allocable share of the Percentage Interest of such Land Unit, which share shall be based upon such unit's percentage interest in the common elements of such Building Condominium. Section 2.13 Action Without Meeting. Any action by the Unit Owners Association required or permitted to be taken at any meeting may be taken without a meeting if all the members of the Unit Owners Association shall individually or collectively consent in writing to such action. Any such written consent shall be filed with the minutes of the proceedings of the Unit Owners Association. Section 2.14 Liability of the Unit Owners Association; Defense of Claims. (a) Officers and Owners acting on behalf of the Unit Owners Association shall not be liable to the Unit Owners for any mistake of judgment, negligence, or otherwise, except for their own individual willful misconduct or gross negligence. (b) Officers and Owners acting on behalf of the Unit Owners Association shall not be liable for the failure of any service to be obtained or paid for by the Unit Owners Association, or for injury or damage to persons or property caused by the elements or by another Unit Owner or person on the Property, or resulting from electricity, gas, water, rain, dust or sand which may leak or flow from the outside or from any part of any of the Land Units or Land Unit Buildings, or from any of such Land Unit Building pipes, drain conduits, appliances, or equipment, or from any other place unless in each such instance such injury or damage has been caused by the willful misconduct or gross negligence of such person acting on behalf of the Unit Owners Association. Page: 4 -�i c-� w CD (c) Officers and Owners acting on behalf of the Unit Owners Association shall have no personal liability in contract to a Unit Owner or any other person or entity under any agreement, check, contract, deed, lease, mortgage, instrument, or transaction entered into by them on behalf of the Unit Owners Association in the performance of their official duties. (d) Officers and Owners acting on behalf of the Unit Owners Association shall not be liable to a Unit Owner, or such Unit Owner's tenants, employees, agents, customers or guests, for loss or damage caused by theft of or damage to personal property left by any Unit Owner or his tenants, employees, agents, customers or guests, or in or on the Common Elements, except for such person's own willful misconduct or gross negligence. (e) Officers and Owners acting on behalf of the Unit Owners Association shall have no personal liability in tort to a Unit Owner or any other person or entity, direct or imputed, by virtue of acts performed by or for them, except for such person's own willful misconduct or gross negligence in the performance of their duties. (f) Officers and Owners acting on behalf of the Unit Owners Association shall have no personal liability arising out of the use, misuse or condition of any buildings located on the Land Condominium or which might in any other way be assessed against or imputed to such person as a result of or by virtue of their performance of their duties, except for such person's own willful misconduct or gross negligence. (g) Complaints brought against an Owner acting on behalf of the Unit Owners Association, Officers, or employees or agents thereof in their respective capacities as such, or the Land Condominium as a whole, shall be directed to the Unit Owners Association, which shall promptly give written notice thereof to the Owners and such complaints shall be defended by the Unit Owners Association. Complaints against one or more but less than all Owners shall be defended by such Owners themselves and, if the complaint relates to the Land Condominium, such Owners shall promptly give written notice of the institution of any such suit to the Unit Owners Association. Section 2.15 Common or Interested Members of the Unit Owners Association. Owners acting on behalf of the Unit Owners Association shall exercise their powers and duties in good faith and with a view to the interests of the Unit Owners Association and consistent with the purposes set forth in the Declaration and these Bylaws. No contract or other transaction between the Unit Owners Association and one or more Owners, or between the Unit Owners Association and any corporation, firm, entity, or association in which one or more of the members of the Unit Owners Association are directors or officers or are financially or otherwise interested, shall be either void or voidable because such member or members are present at the meeting of the Unit Owners Association which authorizes or approves the contract or transaction, or because his or their votes are counted for such purpose, if such action complies with the provisions of Section 13.1-691 of the Code of Virginia (1995), as amended, or its successor statute. Page: 5 -p ARTICLE 3 0 OFFICERS r co Section 3.1 Election of Officers. The Unit Owners Association shall elect such Officers of the Unit Owners Association as deemed necessary, by a majority vote of such members annually at a meeting of the Unit Owners Association at which a quorum is present, or as otherwise may be deemed necessary by the Unit Owners Association. Section 3.2 Compensation of Officers. No Officer shall receive any compensation from the Unit Owners Association for acting as such (unless otherwise provided by the majority vote of Unit Owners); provided, however, officers may be reimbursed for authorized sums which they may expend on behalf of the Unit Owners Association. ARTICLE 4 OPERATION OF THE CONDOMINIUM Section 4.1 Determination of Common Expenses and Assessments Against Unit Owners. (a) Fiscal Year. The fiscal year of the Unit Owners Association shall be the calendar year. (b) Preparation and Approval of Budget. At least forty-five days before the beginning of the fiscal year, the Unit Owners Association, through its officers (or, if no officers have been elected, by majority vote of the Owners) shall adopt a budget for the Unit Owners Association containing an estimate of the total amount considered necessary to pay the cost of the obligations of the Unit Owners Association as required by the Condominium Act or the Land Condominium Instruments ("Common Expenses"). The budget shall constitute the basis for determining each Unit Owner's assessment for Common Expenses. (c) Assessment and Payment of Common Expenses. The budget so adopted shall be assessed against each Unit Owner in proportion to its respective Percentage Interest and shall be a lien against each Unit Owner's Unit. (d) Effect of Failure to Prepare or Adopt Budget. The failure or delay of the Unit Owners Association to prepare or adopt a budget for any fiscal year shall not constitute a waiver or release in any manner of a Unit Owner's obligation to pay its allocable share of the Common Expenses as herein provided whenever the same shall be determined and, in the absence of any annual budget or adjusted budget, each Unit Owner shall continue to pay each installment at the rate established for the previous fiscal year until notice of the new annual or adjusted budget shall have been delivered. Page: 6 c� c:) W Section 4.2 Payment of Common Expenses. Each Unit Owner shall pay --0 the Common Expenses assessed by the Unit Owners Association in proportion to its Percentage Interest as set forth in Exhibit "C" to the Declaration. Each such assessment, together with the interest, late charges and costs of collection (including reasonable attorneys' fees), shall also be the personal obligation of the Unit Owner at the time the assessment fell due. The personal obligation for delinquent assessments shall not pass to successors in title or interest unless assumed by them. Section 4.3 Collection of Assessments. Any assessment not paid within ten days after due shall accrue a late charge in the amount of five percent of the overdue assessment or installment. Each defaulting Unit Owner shall also pay all costs of collection, including without limitation, reasonable attorneys' fees, incurred in the collection of any unpaid assessment. Section 4.4 Statement of Common Expenses and Access to Records. The Unit Owners Association shall promptly provide any Unit Owner, contract purchaser or Mortgagee so requesting the same in writing, with a written statement of all unpaid assessments for Common Expenses due with respect to such Unit. The Unit Owners Association shall make available during normal business hours for inspection, upon request by Unit Owners, Mortgagees and prospective purchasers, and their authorized agents, current copies of the Land Condominium Instruments and other books, records and financial statements of the Unit Owners Association (including, if such is prepared, the most recent annual audited financial statement of the Unit Owners Association). If and so long as there is no audited statement available, any Unit Owner or Mortgagee may have an audited statement prepared at its expense. Section 4.5 Maintenance, Repair, Replacement and Other Common Expenses. (a) By the Unit Owners Association. The Unit Owners Association shall be responsible for the maintenance, repair and replacement of the Common Elements. The Common Elements shall be kept in good repair and in a clean and first class condition. (b) By the Unit Owner. Each Unit Owner shall be responsible for the maintenance and repair of its Land Unit and Land Unit Buildings located thereon. Each Land Unit and Land Unit Buildings located thereon shall be kept in good repair and in a clean and first class condition. ARTICLE 5 INSURANCE Section 5.1 Authority to Purchase. All insurance policies relating to the Common Elements of the Condominium shall be purchased by the Unit Owners Association, in accordance with the requirements of the Condominium Act. Each such policy shall provide that the insurer waives any right to claim (i) by way of subrogation Page: 7 against the Declarant, the Unit Owners Association, the Unit Owners and their C' respective agents and employees, and (ii) invalidity arising from acts of the insured. All c -n policies of insurance shall be written by reputable companies licensed to do business in ca the Commonwealth of Virginia. Section 5.2 Liability Insurance. The Unit Owners Association shall obtain and maintain commercial general public liability and property damage insurance in such limits as it may from time to time determine (but for not less than $1,000,000 for bodily injury or property damage for any single occurrence), insuring the Unit Owners Association and each Unit Owner against any liability to the public or to the Unit Owners (and their invitees, agents and employees) arising out of, or incident to the ownership or use of the Common Elements including, to the extent applicable, employer's liability insurance, comprehensive automobile liability insurance, all -written contractual liability insurance, garage keeper's liability and bailee's liability. Such insurance shall be issued on a comprehensive liability basis and shall contain: (i) a cross -liability endorsement under which the rights of a named insured under the policy shall not be prejudiced with respect to his action against another named insured; and (ii) a "severability of interest" endorsement which shall preclude the insurer from denying liability to the Unit Owners Association or to a Unit Owner because of negligent acts of the Unit Owners Association or of another Unit Owner. The Unit Owners Association shall review such limits periodically. ARTICLE 6 SALES AND MORTGAGES OF LAND UNITS Section 6.1 Sales. A Unit Owner may sell or lease his Land Unit or any interest therein without the consent of the Unit Owners Association or any Unit Owner or Mortgagee. Section 6.2 No Severance of Ownership. A Unit Owner may mortgage or encumber its Unit without the consent of the Unit Owners Association or any other Unit Owner. No Owner shall execute any Mortgage, bring an action in partition, or otherwise convey, or encumber its Land Unit without including therein the appurtenant Common Elements it being the intention of this Article 6 to prevent any severance of such combined ownership. Any Mortgage or instrument purporting to affect one or more of such interests without including all such interests shall be deemed and taken to include the interest or interests so omitted. No part of the appurtenant Common Elements of any Land Unit may be sold, transferred, or otherwise disposed of, except as part of a sale, transfer, or other disposition of the Land Unit to which such interests are appurtenant, or as part of a sale, transfer, or other disposition of such part of the appurtenant Common Elements of all Land Units. Page: 8 --a Cn ARTICLE 7 U-1 CONDEMNATION In the event of a taking in condemnation (or by purchase in lieu thereof) of a Land Unit or any part thereof or of part or all of the Common Elements, the award made for such taking or purchase shall be distributed in accordance with Section 55-79.44 of the Condominium Act, and the distributions shall be made in accordance with the priority of interests at law or in equity in each Land Unit. With respect to condominium units in any Land Unit Building, any taking in condemnation (or by purchase in lieu thereof) of a Land Unit or part or all of the Common Elements, the award or compensation shall be distributed in accordance with (i) Section 55-79.44 of the Condominium Act, (ii) the provisions of the Land Condominium Instruments and (iii) in accordance with the priority of interests at law or in equity of each Land Unit in the Common Elements of the Land Condominium. ARTICLE 8 EASEMENTS FOR UTILITIES AND RELATED PURPOSES Subject to any limitations imposed by the Condominium Act or the Declaration, the Unit Owners Association is authorized and empowered to grant (and shall from time to time grant) such licenses, easements and/or rights-of-way with respect to the Common Elements for sewer -lines, water lines, electrical cables, cable television, telephone cables, gas lines, storm drains, underground conduits and/or such other purposes related to the provision of public utilities to the Land Condominium as may be considered necessary or appropriate by the Unit Owners Association for the preservation of the health, safety, convenience and/or welfare of the Unit Owners and/or as required by the Declaration. ARTICLE 9 COMPLIANCE AND DEFAULT Section 9.1 Relief. Each Unit Owner shall be governed by, and shall comply with, all of the terms of the Land Condominium Instruments and the Condominium Act. In addition to the remedies provided in Section 55-79.53 of the Condominium Act, a default of any term of the Land Condominium Instruments by a Unit Owner shall entitle the Unit Owners Association to the following relief: (a) Additional Liability. Each Unit Owner shall be liable for the expense of all maintenance, repair or replacement rendered necessary by his act, neglect or carelessness or the act, neglect or carelessness of his tenant, employees, agents, invitee, or licensees, but only to the extent that such expense is not covered by the proceeds of insurance carried by the Unit Owners Association, excluding any deductible amount. Page: 9 —a 0 W (b) Costs and Attorneys' Fees. In the event of any enforcement action crf brought against a Unit Owner by the Unit Owners Association, the prevailing party shall N be entitled to recover the costs of such proceeding and such reasonable attorneys' fees as may be determined by the court or agreed upon by the parties. (c) Interest. In the event of a default by any Unit Owner in paying any sum assessed against its Unit, other than for Common Expenses, which continues for a period in excess of fifteen (15) days, interest at a rate of ten percent (10%) per annum may be imposed on the principal from the date due until paid, which rate of interest may be adjusted from time to time by the Unit Owners Association based on the increase in the prime rate of interest charged by the financial institution where the Unit Owners Association has its operating account. (d) Legal Proceedings. Failure to comply with any of the terms of the Land Condominium Instruments shall be grounds for relief, including without limitation, an action to recover any sums due for money damages, injunctive relief, foreclosure of the lien for payment of all assessments, any other relief provided for in these Bylaws or any combination thereof and any other relief afforded by a court of competent jurisdiction, all of which relief may be sought by the Unit Owners Association or, if appropriate, by any aggrieved Unit Owner, and shall not constitute an election of remedies. Section 9.2 Lien for Assessments. (a) Lien. The total annual assessment of each Unit Owner for Common Expenses or any special assessment, or any other sum duly levied (including without limitation, penalties, interest, late charges, etc.), made pursuant to these Bylaws, is hereby declared to be a lien levied against the Unit of such Unit Owner as provided in Section 55-79.84 of the Condominium Act. (b) Enforcement. The lien for assessments may be enforced and foreclosed in the manner provided by the laws of the Commonwealth of Virginia by power of sale or action in the name of the Unit Owners Association. (c) Remedies Cumulative. A suit to recover a money judgment for unpaid assessments may be maintained without foreclosing or waiving the lien securing the same, and a foreclosure may be maintained notwithstanding the pendency of any suit to recover a money judgment. Section 9.3 Subordination and Mortgage Protection. Notwithstanding any other provisions hereof to the contrary or in the Condominium Act, the lien of any assessment levied pursuant to these Bylaws upon any Land Unit (and any penalties, interest on assessments, late charges or the like) shall be subordinate to, and shall in no way affect the rights of a Mortgagee made by an institutional lender and secured by a First Mortgage, or affect the rights of any Owner of such Unit acquiring its interest by foreclosure or deed in lieu thereof; provided, however, that such subordination shall apply only to assessments which have become due and payable prior to a sale or Page: 10 transfer of such Unit pursuant to foreclosure, or any proceeding in lieu of foreclosure. CD Such sale or transfer shall not relieve the purchaser of the Unit at such safe from liability (_n for any assessments becoming due after any such foreclosure or deed in lieu thereof, c.) nor from the lien of any such subsequent assessment, which lien shall have the same effect and be enforced in the same manner as provided herein. ARTICLE 10 MISCELLANEOUS Section 10.1 Notices. Unless otherwise provided in the Declaration or these Bylaws, all notices hereunder shall be given in accordance with Section 6.7 of the Declaration. Section 10.2 Invalidity. The invalidity of any part of these Bylaws shall not impair or affect in any manner the validity, enforceability or effect of the balance of these Bylaws. Section 10.3 Captions. The captions herein are inserted only as a matter of convenience and for reference, and in no way define, limit or describe the scope of these Bylaws, or the intent of any provision thereof. Section 10.4 Gender. The use of the masculine gender in these Bylaws shall be deemed to include the feminine gender and the use of the singular shall be deemed to include the plural, whenever the context so requires, and vice versa. Section 10.5 Waiver. No restriction, condition, obligation or provision contained in these Bylaws shall be deemed to have been abrogated or waived by reason of any failure to enforce the same, irrespective of the number of violations or breaches thereof which may occur. Section 10.+6 Amendments to Bylaws. Except as otherwise required herein or in the Declaration, these Bylaws may be amended only in accordance with the consent of 55% of the Common Element Interests of all Unit Owners. Notwithstanding the above, each Unit Owner covenants and agrees to execute any amendment to these Bylaws which is reasonably required or desired and requested by any Unit Owner in order to effectuate the use, maintenance, operation and development of its respective Land Unit in accordance with the terms of the Declaration and these Bylaws. The Unit Owners Association shall give notice to all Eligible Mortgagees seven (7) days prior to the date on which the Unit Owners amend these Bylaws. Section 10.7 Conflicts. In case any part of these Bylaws conflicts with the Condominium Act and/or the Declaration, the provisions of the Condominium Act and/or Declaration, as the case may be, shall control. [Signature page to Follow] Page: 11 Signature Page to Bylaws IN WITNESS WHEREOF, the undersigned, tng the Declarant herein, has caused these Bylaws to be duly executed as of this q t'�-day of 1VOkr be /- , 2016. CB Ventures LLC, a Virgini ite abi ity company By: Name: r0002FW Title: M CIA A' m An _ COMMONWEALTH OF VIRGINIA CU OF (A)W dU6p - I, the undersi d, a Notary Public in and for the above jurisdiction aforesaid, do hereby certify that ncblp)) A- 11&MbJ,— of CB Ventures LLC has acknowledged the same before me in the a Fresaid jurisdiction on behalf of said limited liability company. GIVEN under my hand and seal on Pa 2016. (SEAL) Notary Public My commission expires '3l ,)Olq My notary registration no: l3 U fC L. iy Off:•'• NOTARY PU$Clc :-F _ REO. #laso MY COMMlSSIpJV 'Q fT H o;,�,P.�. Page: 12 EXHIBIT "C" 0 C.0 Common Element Interest Table c; l U1 Land Unit Description Size (approximate acreage) Common Element and Voting Interests 1 1.8723 37.85% 2 0.9877 19.97% 3 1.0451 21.13% 4 1.0415 21.05% TOTAL 4.9466 100.00% EXHIBIT "D" Land Condominium Plat and Plan w (attached hereto) G� UB AbUTE a VARL46LE WDTH R/W EASTBOUND LANE -- - - - - ----- -N N60750'11 " E �. 120.73' e� r GJl �mac^ N KREMER PROPERAES, INC. rlll D.S. 459, PG. 744 0 (AND UNIT 4 80' INST. No. 150006027 N SUBMITTED LAND j 1.0415 ACRES r 1 y S 25'06'29' E L 15 <� N 6.4 53'31 " E 180 00' �' r \ 147.0-~"' I \ LAND UNIT 2 LAND UNIT 3 Q. I SUBMITTED LAND SUBMITTED LAND o \� N 0.9877 ACRES 1.0451 ACRES �I Q �* 17 \iD+ L 10 X11 I T.M. 43-A-4&4 r C8 VENTURES, LLC INST. No. 150011639 7rp \ 4.9466 ACRES N r %A p LAND UNIT 1 I O �/ .p SUBMITTED LAND J \ �w 1.8723 ACRES COMMON ' ELEMENT y SEE SHEET 12 PROPOSED UTILITY LOX\' CB VENTURES, LLC \ Lk !3 , INST. No. 150011639 100 0 100 41 I GRAPHIC SCALE (IN FEET) CB VENTURES LAND CONDOMINIUM �Nj TH OF EXHIBIT D y CONDOMINUM PLAT & LAND UNITS G' STONEWALL A94GSTEM DISTRICT, FREDERICK COUNTY, VIRGINIA U ERNEST S. TH a Lic. No. 1837 t /� j�� 4. SCALE. 1'. 100' DATE OCTOBER 4, 2016 GREENWAYENGINEERING, INC. 151 Windy Hill Lane rxn 19" Winchester, Vugi�ua 22602 Telephone: (540) 662-4185 S UR'�o GREENWAY Fax (540) n2-9528 F2 22C SHEET 1 OF 4 ENGINEERING www.greenwayeng.com CONDO 16-01 T.M. CB VENTURESTURES,, LLC 1'�- S INST. No. 150011639 B,l4.9466 ACRES o 4j3�• crl C: PROPOSED UTILITY LOT CB VENTURES, LLC INST. No. 150011639 LAND UNIT 1 SUBMITTED MND 1.8723 ACRES 3 ; a .O� ! OHO � O C�ftolo \sso• Od. .1 (�4F,Q �F'MF\ a44 s �' �s,, , o ROUE �• `ze o � Off` �v THE LOWER SURFACE (ELEVATION 694 FEET NAV088) AND THE UPPER SURFACE (ELEVATION 702 FEET NAVD88) OF THE COMMON ELEMENT (AERIAL) ARE DEFINED BY THEIR RESPECTIVE ELEVA77ON INTERSECTIONS WITH VERTICAL LINES PROJECTED FROM EARTH CENTER THROUGH THE FOUR GROUND POINTS SHOWN ABOVE. ELEVATIONS ARE NORTH AMERICAN VERTICAL DATUM 1988. GROUND ELEVATION BELOW THE COMMON ELEMENT IS APPROXIMATELY 692 FEET NAV088. 10 0 10 GRAPHIC SCALE (IN FEET) CB VENTURES LAND CONDOMINIUM �NLTH 0 EXHIBIT D y CONDOMINUM PLAT & COMMON ELEMENTS STONEWALL M4GlS7014L DWRCT, FREDERKN COUNTY, WRGIN14 c) NEST S. H a LIC. N0. 1837 SCALE- l`---10' I DATE. OCTOBER 4, 2016 GREENWAY ENGINEERING, INC. 151 Windy HiM Lane Fm ,97 Winchester, Kuginia22602 Telephone: (540) 662-4185 SURF GREENWAY FAX (540) 722-9528 2022C SHEET 2 OF 4 ENGINEERING www.greenwayeng.com CONDO 16-01 U3 ROME 9 VARMLE WIDTH RIW EASTBOUND LANE -o + G7 I T.M. 43-A-48 0� a KREMER PROPERTIES, INC. \ + JP D.B. 459, PG 744 INST. No. 150006027 LAND UNIT 4 ) 80' I POTOMAC EDISON J CO. ESMT. + I D.B. 892, PG. 1085 I + 30' DRAINAGE ESMT D. 6. 490, PG. 632 \ -- - 1 Cl + / ` + : POTOMAC ' D1SON LAND UNIT OL3 \ / PE ",GREEMENT Q D.B. 527 PG. 32 I /\LAND UNIT 2 / T.M. 43-A-484 „ CB VENTURES, LLC I'm \ \ INST. No. 15001109 j p 1 \ 4.9466 ACRES h N o� A LAD UNIT 1 , ` RP TELEPHONE C0.` l / \ R,4 & ESMT D.* 285, PG. 38 ' 1 PROPOSED U77WY LOT l CS VENTURES, LLC INST. No. 150011639 \ ! 1 100 0 100!!!%iiii \ I GRAPHIC SCALE (IN FEET) CB VENTURES LAND CONDOMINIUM �pi,Tx oF� EXHIBIT D r EXISTING EASEMENTS & BUILDING RESTRICRON ONES STONEWALL MAGIS D WL DISTRICT, FREDERICK COUNTY VIRGINIA U RNEST . HO � LiC. No. 1837 �p, y6 q� SCALE. 1'100' DATE. OCTOBER 4, 2016 GREENWAY ENGINEERING, INC. ISI Windy Hill Lane SURF rr,n ,�, Winchester, Ynginia 22602 Telephone: (540) 662-4185 GREENWAY FAX (540) 722-9528 L2022C SHEET 3 OF 4 CONDO 16-01 ENGINEERING www.greenwwwng com MxAffimillGld 4.9466 ACRES LAND UNIT 1 SUBMITTED LAND 1.8723 ACRES LAND UNIT 2 SUBMITTED LAND 0.9877 ACRES LAND UNIT 3 SUBMITTED LAND 1.0451 ACRES LAND UNIT 4 SUBMITTED LAND 1.0415 ACRES TOTAL 4.9466 ACRES NOTES: 1. THE SUBJECT PROPERTY IS A PORTION OF THE LAND OWNED BY CB VENTURES, LLC AS RECORDED BY INSTRUMENT No. 15001109. THE PROPERTY IS IDENTIFIED AS TAX PARCEL 43-A-484, CONTAINS 4.9466 ACRES AND IS ZONED B2. 2. THE PERIMETER BOUNDARY SHOWN HEREON IS BASED ON PLATS & DEEDS OF RECORD AND FIELD SURVEYS PERFORMED BY THIS FIRM. J. NO TITLE REPORT FURNISHED. EASEMENTS AND OTHER ENCUMBRANCES MIGHT EXIST WHICH ARE NOT SHOWN. -o c-> O C.� 0 4. THE PROPERTY SHOWN HEREON LIES WITHIN ZONE X. AREAS DETERMINED TO BE OUTSIDE THE 0.2% ANNUAL CHANCE FLOODPLAIN PER N.F.I.P. FLOOD INSURANCE RATE MAP No. 51069CO219D, EFFECTIVE DATE SEPTEMBER 2, 2009. 5. THE UTILITY LOT IS TO BE USED BY THE FREDERICK COUNTY SANITATION AUTHORITY FOR A SANITARY SEWER PUMP STATION. LINE BEARING DISTANCE L1 S 83' 1551 " W 45.77' L2 N 06'44'09" W 33.00' L3 S 83'15'51 " W 41.34' L4 S J22521" W 31.69' L5 DELETED 26.87' L6 N 32'2521 " E 123.J9' L7 N 71'1931 " E 1304' L8 N 18'4029" W 159.18' LINE BEARING DISTANCE L9 N 71 ' 19 31 " E 180.33' L10 N 71'1931" E 167.29' L l l N 24'02 26" E 79.81 L 12 N 67'34 31 " W 115.26' L13 S 222529" W 26.87' L 14 N 6734 31 " W 16.24' L 15 S 64'5331 " W 79.93' 1, ERNEST S. HOLZWORTH, A DULY LICENSED LAND SURVEYOR IN THE COMMONWEALTH OF VIRGINIA DO HEREBY CERTIFY THAT THE INFORMATION CONTAINED ON THIS PLAT, DESIGNATED AS 'EXHIBIT D,- IS ACCURATE WITHIN NORMAL TOLERANCES AND COMPLIES WITH SECTION 55-79.58.A OF THE VIRGINIA CONDOMINIUM ACT, AS AMENDED, AND THAT NO BUILDINGS OR THEIR ASSOCIATED IMPROVEMENTS HAVE BEE CONSTR D. � � ERNEST S. H WORTH, L.S. CB VENTURES LAND CONDOMINIUM �NLTH 0 y EXHIBIT D Cp NOTES STONEWALL MAGISTERIAL DISTRICT, FREDERICK COUNTY, VIRGINIA ERNEST S. a SCALE NIA DATE' OCTOBER 4, 2016 LIC. 1837 GREENWAY ENGINEERING, iNc. 151 Wmdy Hill Lane URA Frm Winchester, Yng& a 22602 Telephone: (540) 662-4185 GREENWAY FAX (540) 722-9528 2022C SHEET 4 OF 4 ENGINEERING www.greenwayeng.com CONDO 16-01 vlRGTMA: Fk?DERICK COUNTY.SCl. This imttrruim/ent c l' . r'i,'r^ •`as produced to meon l Agement thereto annexed cas adrn iticJ c:, i -, )w- f Lk imposed by Sec. 58.1-802 of $ , and 58.1-801 have been paid, if assessable.