2003-016-PEDCR - Laserfiche WebLink

Home Browse Search

ARTICLE II POWERS IN DECLARANT Section 1. Changes in Boundaries. The Declarant reserves the right to make such changes in the boundaries of lots not sold to others and on the Common Areas as it deems advisable, provided that such changes shall not be unreasonable or substantially adversely affect the boundaries or the beneficial use and enjoyment of any lot then owned by persons other than the Declarant, and provided that Declarant complies with all provisions of any applicable law or ordinance. The reasonableness of any such boundary change, if disputed by a lot owner other than Declarant, shall be determined by a registered professional engineer of a choice acceptable in advance by both parties. If no engineer is acceptable to both or if either party is aggrieved by the decision of the engineer, then a mediator shall be appointed. The initial retainer cost of arbitration shall be shared equally by all parties, but all costs of arbitration, including the initial retainer cost, shall be borne by the by the losing party thereto. The decision of the arbitrator shall be final. Section 2. Adding and Removing Property Owned by Declarant. Declarant reserves, and shall at all times have the right, without the consent or approval of any other person to plat or replat the boundaries or dimensions of any lot or other property owned by Declarant and may increase or decrease or change the size, shape, or dimensions of any lot or other property owned by Declarant and may designate the lots or other property owned by Declarant which shall or shall not be entitled to the use and enjoyment of any of the Common Areas and other privi leges, subject to the obligations of this Declaration of covenants, conditions, and restrictions. Furthermore, Declarant reserves the right to increase and/or change the boundaries of the Paris Industrial Park by annexing, purchasing, or otherwise acquiring additional property for the sole purpose of adding additional Lots to the Paris Industrial Park. Section 3. Temporary Administration. Until such time as Declarant has sold, conveyed and approved completed buildings and improvements on eighteen (18) Lots, as herein above defined and described, or upon the expiration of sixty (60) months after the date this Declaration is filed for record, whichever event occurs first, Declarant shall have the right, but shall not have the duty, to act as the sole administrator of the affairs of the Association. During such period of temporary administration, Declarant shall have the right to exclusively exercise and perform all of the rights, powers, authority, functions and duties of the Association if Declarant shall elect to exercise or perform all or any of the same. Paris Industrial Park Development Covenants Page 3 of 20