FOURTH AMENDMENT TO AGREEMENT AND DECLARATION
OF RESTRICTIONS OF
KEATINGTON
CEDARS SUBDIVIONS NO. 1
RECITALS:
A.
An Agreement and Declaration of Restrictions was
executed by Keating International Corporation, as owner, with respect to
Keatington Cedars Subdivision No. 1, a subdivision of part of Section 20, Town
4 North, Range 10 East, Orion Township, Oakland County, Michigan in according
to the plat recorded in Liber 150, pages 1-4, inclusive, O.C.R., was dated
November 8, 1976 and was recorded with the Oakland County Register of Deeds on
December 8, 1976 in Liber 6809, pages 816-822, Register No. 76-102669; and was
amended by First Amendment to Agreement and Declaration of Restrictions of
Keatington Cedars Subdivision No. 1, dated June 13, 1979, and recorded with the
Oakland County Register of Deeds on July 25, 1979 in Liber 7574, pages 289-295,
Register No 79-79263. The aforesaid
declaration, as amended, is hereafter referred to as the “Declaration”. Keating International Corporation has deeded
all rights, title and interests in lots within the subdivision to Reyst and
Company, a
B. Paragraph Twenty-Two (22) of the Declaration provides that the covenants and restrictions of the Declaration may be amended during the first twenty-five (25) year period after its execution by an instrument signed by no less than seventy (70%) percent of the lot owners. The undersigned, constituting more than seventy (70%) percent of the lot owners within the subdivision, wish to amend the Declaration as set forth below.
NOW,
THEREFORE, in consideration of the mutual agreements of the signatories hereto,
and in consideration of the premises, the Declaration is amended so that PART 1 Items #8, #17(a) and #17 (e) of the Declaration
have been updated
and become additions to the second and third amendments of the Keatington Cedars Subdivision #1.
{{ beginning with paragraph 1 thereof through paragraph 26, is deleted
and the following paragraphs 1 through 26 are substituted in its place:}}
The erection of any new building, or repair of any building damaged by fire or otherwise, shall be completed as rapidly as possible and should the owner leave such building in an incomplete condition for a period of more then six (6) months, with exception of insurance delays, then the Architectural Control Committee, or its authorized representative is authorized and empowered either to tear down and clear from the premises the uncompleted portion of such structure, or to complete the same at its discretion. In either event, the expense incurred shall be charged against the owner’s interest therein and shall be a lien upon said lands and premises.
Omit {{with the exception of Reyst and Company}}
Omit {{Class B paragraph, it no longer applies to the
subdivision}}
In
compliance with the Keatington Cedars Association By-Laws, Section #1, page #5
………the
Board is authorized to grant to committees and other agents, as it deems
advisable, the authority to conduct specific activities.
The
Board of Directors of Keatington Cedars Association has authorized the
Treasurer to implement a $15 late fee for dues not paid after 30 days from the
due date. (As set in Article IV of the
By-Laws, page 2, Section 3, sub A. defines a 30-day grace period to pay dues).
Implemented with 2006 dues.
It is
deemed necessary to further clarification of 17(e) concerning what is
delinquent and when a lien may be placed on a homeowner’s property for
non-payment of Association dues.
Definition of 17(e) is that dues are delinquent after 30 days from the due date. A $15 dollar charge will be assessed. If the dues are not paid within another 30 days (total of 60 days from due date) a lien may be placed on the property and (7%) percent per annum will be charged from the date of the 30-day delinquency.