(A) Whereas the undersigned,___________,is the owner and developer of the property described below, and;
(B) Whereas, (the owner/developer) desires to impose restrictions and conditions for the use and maintenance of the (description of the road) to be jointly owned by any and all purchasers of the lots set forth hereinafter below.
(C) (1) Now therefore know all men by these presents that the following restrictions and conditions and covenants upon the lands described as follows:
(2) (legal description to include the name of the subdivision and the book location in in RMC Office)
(3) The conditions and restrictions imposed on the aforesaid property are as follows:
(a) The (description of the road) running through the property as shown on the aforesaid plat is for the joint use of the owners of lots (description of lots), their successors, and assigns, for ingress and egress to and from the respective lots and for the installation of public utilities. These owners shall be called the (subdivision name) Property Owners Association hereinafter called the Association.
(b) A property owner is a person, firm, corporation, partnership, trust or other legal entity, or any combination thereof, who is the holder of a deed to a lot in ________________subdivision. It is the responsibility of each present and subsequent member of the Association to assist in keeping the road in a high state of maintenance and to respect the rights of the other property owners in its use. Since this road is not being engineered and constructed according to Lexington County standards, it will not be the responsibility of Lexington County to maintain this road.
(c) Maintenance cost to the roadway shall be borne in accordance with the percentage of ownership of the lots hereinabove set forth; the interest at this state being solely in the name of (the owner/developer). Percentage shall be divided equally for each lot owned, therefore, with the property subdivided into _____lots, the ownership of each lot represents (fraction) of the maintenance cost to be shared. The developer shall carry all the responsibilities of a lot owner in proportion to the number of lots owned. There shall also be no further subdividing of lots within this subdivision.
(If the developer wishes to either expand the subdivision at a later date or allow property owners to further subdivide their lots, provisions for this must be stipulated in this agreement and approved by the Planning Commission.)
(d) The Association in January of each year shall elect a Board of Directors consisting of seven (7) members. This Board shall be responsible for the care and maintenance of the roadways in __________subdivision, and is authorized to direct the financial matters of the property owners concerning collection of assessments and necessary expenditures of joint funds of the property owners. To carry out these duties, the Board shall elect a President, Vice-President, secretary, and Treasurer.
(e) Upon the initial sale of each lot, _______dollars shall be set aside in escrow by the developer to be drawn upon as determined by the Board of Directors stipulated above to provide maintenance to the aforesaid roadway.
(Escrow funds are not mandatory on paved road projects, however, on unpaved roads the amount per lot shall not be less than $100.)
(f) There shall also be an annual assessment upon each lot owner which shall be due on July 1 of each year. Initially this assessment shall be_______dollars per lot per year. This amount may be changed at any time by a two-thirds (2/3) vote of the members of the Association. The obligation of each lot owner to pay this assessment shall be a continuing lien upon the lot, subject only to the lien on a bona fide first mortgage upon the real property held by a reputable financial institution; and the lien may be enforced by the Association in all respects as though secured by a recorded mortgage as provided by the laws of the State of South Carolina.
(For unpaved roads the escrow amount and annual assessment shall be equal to the annual maintenance cost divided by the number of lots. For paved roads the annual assessment shall be equal to the replacement cost the roadway divided by the number of lots and also divided by 20, representing the life of the road.)
(g) This instrument is to be recorded in the Lexington County RMC Office, and the undersigned, (the owner/developer), and all future owners shall cause the following statement to be placed in every contract and deed conveying lots out of this subdivision. This statement shall be signed by the grantee(s) and shall be placed immediately below the grantor's signature and shall be binding on all parties thereof. Failure of any subsequent purchaser to comply with this provision shall in no way diminish or impair the terms of this agreement and the conditions, benefits and obligations imposed and granted thereunder.
"I, the undersigned, as purchaser of the above lot described in this deed/contract, acknowledge the existence of the road maintenance agreement as recorded in the RMC Office for Lexington County in Deed Book____ at Page___, and do hereby confirm by acceptance of this deed/contract all the terms and conditions thereof. I understand that since the road described in that agreement is not being engineered and constructed according to Lexington County standards, it will not be the responsibility of Lexington County to maintain that road. I further acknowledge that the lot owners subject to that agreement shall be responsible for the maintenance and upkeep of that road.”
(h) It is agreed that the road shall be kept free of all obstructions so as to be open for the passage of fire, police, and other emergency vehicles,
personnel, or equipment at all times; and that the responsibility lies with the respective property owners, their agents, guests, and employees.
(i) That the roadway shall be posted as a privately maintained road prior to the conveyance of properties, and shall remain posted in that manner at all times.
(j) These covenants and restrictions are to run with and bind the land, and shall inure to the benefit of and bind property owners subject to this agreement, their respective legal representatives, heirs, successors, and assigns, for a term of 20 years from the date this agreement is recorded in the RMC office for Lexington County; after which time the agreement shall be automatically extended for successive periods of ten (10) years unless an instrument has been recorded whereby the owners of the lots have agreed to a change in this agreement.
(k) Changes in this agreement either in whole or in part may be executed at any time by the recording of an instrument signed by a majority of the members of the Association.
IN WITNESS WHEREOF, the undersigned has caused these presents to be executed this the_____day of ______________, 20___in Lexington, South Carolina.
WITNESSES: BY: Property Owner(s)
______________ ____________________
______________
STATE OF SOUTH CAROLINA
COUNTY OF LEXINGTON
TOWN OF SOUTH CONGAREE
PERSONALLY APPEARED before me __________who, being duly sworn, deposes and says that he or she saw the within named property owner(s) sign and seal the within road maintenance agreement
for the uses and purposes therein mentioned and that he or she with__________witnessed the execution thereof.
SWORN TO TO BEFORE ME THIS______day of _________, 20____
____________________(L.S.)
Notary Public for South Carolina
My Commission Expires:_____________
(Ord. passed 2-17-1986)