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  • 2005 Dev-Homeowner Amendment

    Silver Springs Communities logo

    AMENDMENT TO
    DEVELOPER-HOMEOWNER AGREEMENT
    SILVER SPRINGS SUBDIVISION ( COMMUNITIES)

    January 21, 2005

    AMENDMENT TO
    DEVELOPER-HOMEOWNER AGREEMENT
    SILVER SPRINGS SUBDIVISION (COMMUNITIES)

    THIS AMENDMENT TO THE DEVELOPER-HOMEOWNER AGREEMENT
    SILVER SPRINGS SUBDIVISION (the “Amendment”) is entered into effective the
    ___day of January, 2005, by and among:

    1. SILVER SPRINGS HOMEOWNERS ASSOCIATION;
    2. SILVER SPRINGS TOWNHOUSE CONDOMINIUM
    HOMEOWNERS ASSOCIATION (SILVER MEADOWS PHASE);
    3. WILLOW BEND WEST HOMEOWNERS ASSOCIATION;
    4. MEADOW SPRINGS HOMEOWNERS ASSOCIATION;
    5. QUAIL MEADOWS HOMEOWNERS ASSOCIATION;
    6. MEADOW WILD HOMEOWNERS ASSOCIATION;
    7. SILVER SPRINGS TOWNHOUSE HOMEOWNERS
    ASSOCIATION (WILLOW BEND EAST)
    collectively referred to herein as the “Homeowners Association”)

    Recitals

    A. In October 1989, the Homeowners Association entered into an agreement entitled “Developer-Homeowner Agreement Silver Springs Subdivision” (referred to below as the “1989 Agreement”). A copy of the 1989 Agreement is attached hereto and incorporated herein by this reference.

    B. The Homeowners Associations desire to amend the 1989 Agreement.

    NOW THEREFORE, in consideration of the terms and conditions set forth below, the
    Homeowners Associations do hereby amend the 1989 Agreement as set forth below:

    1. Common Area. The common areas properties described in the 1989 Agreement are
    hereby expanded to include the lakes that are described on attached Exhibit 1 (the “Lakes”).

    2. Common Area Cost. Section 5(a) of the 1989 Agreement is hereby deleted in its
    entirety and is replaced with the following language:

    “Each of the vacant lots, each single-family residence, and each condominium and
    townhouse shall be an assessable property for purposes of allocating common area
    expenses associated with the common area properties owned and/or managed by the Master Homeowners Association. For purposes of allocating common area expenses, the Master Homeowners Association may, in its discretion, attribute a higher or lower common area assessment, depending upon the type and location of property as set forth below. In no event, may the Master Homeowners Association reduce or raise the common area assessments above the respective percentages that are shown below:
    (i) Condominiums and townhouses ……………………………………………. 100%
    ii) Lots, single-family residences and townhouses, without lake frontage:… 125%
    iii) Lots and single-family residences with lake frontage:…………………….. 150%

    Furthermore, Silver Springs Master’s Association agrees to take care of the
    reasonable maintenance and upkeep costs associated with the Lakes. However, this is subject to Lakes Conveyance and Water Supply Agreement, dated 06 /23/2004, between Silver Springs Master Homeowners Association and Mountain Regional Special Service District. Silver Springs Master’s Association is not, however responsible to maintain water quality or water quantity reasonably beyond our control or budget constraints.

    3. The Subdivisions listed immediately below are hereby included within the definition of  “Homeowners as defined on page 1 of the 1989 Agreement.

    • Northshore Silver Springs Homeowners Association 1-G,
    • Southshore Homeowners Association,
    • Quail Meadows Phase 2 Homeowners Association,
    • Ptarmigan Homeowners Association,
    • Park Place Homeowners Association,
    • The Springs Homeowners Association,

    (4. Missing)

    5. Voting quorum. The annual budget and any single item expenditure over $10,000 shall require a passing vote of the majority of eligible voting members. This means at least 7 members “voting yes”. Voting by Electronic means such as email shall be accepted as an official means to vote if a voting quorum is not reached.

    6. IN WITNESS WHEREOF, the undersigned Homeowners Associations do hereby agree to the terms of this Amendment as evidenced by their signatures below, effective as of the date first above written.

    1989 MA Dev-HOA Agreement page 2 signatures.jpg2005 MA Dev-HOA Agreement signature page 3.jpg

     This document does not contain notarized signatures.
    This agreement was never signed by the Silver Springs Single Family.
    Not signed by Silver Meadows, nor Quail Meadows Townhomes.
    Managers are not elected trustees therefore cannot legally sign binding documents.
    This document is not recorded.
    The validity of this document is questionable.

     
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