THIS AGREEMENT is made as of the 25th day of June, 1982, by and between SILVER SPRINGS HOMEOWNERS ASSOCIATION, a Utah nonprofit corporation, hereinafter referred to as “Association”, RDF ASSOCIATES, INC., a Utah corporation, hereinafter referred to as “Developer”, and SUMMIT COUNTY, hereinafter referred to as “County”.

RECITALS:

A. Developer is the successor in interest to SSD Partnership, and is in the process of completing platting and development of the Silver Springs Subdivision located in Summit County, Utah.

B. Association was formed to manage and maintain the common areas and improvements at the Silver Springs Subdivision.

C. County desires to clarify the responsibility for maintaining the underdrain system at Silver Springs Subdivision, Phases 1A and 1B.

D. Until such question is clarified, County will not release the bond posted by Developer for the underdrain system; and Developer will not be able to complete the improvements in the remaining portion of the Silver Springs Subdivision.

E. It is in the best interests of Association that Developer complete the improvements in the Silver Springs Subdivision.

NOW THEREFORE, in consideration of their mutual promises and covenants set forth hereinafter, the parties agree as follows:

1. Responsibility. Association hereby acknowledges and agrees that Association is and shall be solely responsible for maintaining the underdrain system in Silver Springs Subdivision Phases 1A and 1B, and such future phases of such subdivision as may be approved by County hereafter.

2. Amendment to Covenants. Developer agrees to amend the Declaration of Covenants, Conditions and Restrictions of Silver Springs Development Subdivision to clarify the responsibility for maintaining the underdrain system. Developer further agrees that any similar Declaration of Covenants, Conditions and Restrictions filed for future Phases will clearly provide that Association is responsible for maintaining the underdrain system.

3, Release. Subject to any other conditions of such bond, County hereby agrees to release $150,000.00– of the escrow being held by American Savings & Loan Association, which represents that portion of the bond designated for completion of the underdrain system in Phases 1A and 1B.

4. Binding. This Agreement shall be binding upon the parties hereto and upon their successors and assigns.

5. Authority. The persons signing this Agreement hereby acknowledge that they have been duly authorized to execute this Agreement in behalf of the respective parties hereto.

 

………ment as of the day and year first above written.

ASSOCIATION
SILVER SPRINGS HOMEOWNERS ASSOCIATION

BY: [signature of] Raymond D. Fry
Its: President

 

DEVELOPER:
RDF ASSOCIATES, INC.

BY: [signature of] Raymond D. Fry
Its: President

 

COUNTY:
SUMMIT COUNTY

BY: [signature of] Bill Wallin
its: Chairman

Notarized on June 28, 1982 by Dorine C. Goodro

Recorded as Entry 193367in Book M225 Pages 191-193. without soliciting, nor gaining the approval of the General Membership of the SSHOA.

NOTE: The Amendment to the CC&Rs adding the words “the underdrain system” to Article VIII Section 1. Duties and Powers of the Association (a) - was recorded on the same day numbered: Entry 193368 Book M225 pages 194-197.

FURTHER NOTE: The words “the underdrain system” do not appear in the Amendment to the 1985 Amendment to the Amendments Entry No. 190493 [or 8] Book M217 Pages 482- 517