. .. I • ., .. 1":. I .I BK0134 re 752 j. . .:~· .. • ·~ ' STATE OF SOUTH CAROLINA ) MASTER DEED of PERJtEYCLEAR POINTE ) HORIZONTAL PROPERTY REGlHE COUNTY OP CHARLESTON )
THIS MASTER DEED ia. made by St. Cherlea Court AHocf.atH, a U111ted partnarehip (aub11equentl1 herein referred to 1111 the ."Orantor") punuant to ' ... . 1. , the Horizontal Property Act of South Carolina (subsequently herein ref erred
to aa the 11Ac.t 11 ) for the purpose of creating a hodzontal proper'ty regime -'\:. 1 · '· • ,, I and eetabliahing certain ea11ement11,, covenants, and •reatriction11 to run vith th• lend 11ubmitted to the horizontal property regime. ARTICLE I HAHll Section 1.01 .!!!!!.• The name of the horizontal property regime hereby eetabU.ahed shall ba Perreyclear Pointe Horizontal Property Regime
11 (aubaequently herein referred to H tha Regima"). ARTICLE II THE PROPERTY Section 2.01 Property. The tel'lll Property meana and include• the Land deacribed belov and all improvement• and atructurea nov existing or iubaequently placed on the Land and all eaaementa, rights, arid appurtanancaa balongina thereto. Section 2.02 Land. The term Land meana and include• the land owned in fee aillple abaolute by Grantor described belov and ahall include the land daacribad in Article III hereof if aubjected. to thia H1111ter Dead ea herein provided, The,.. lan~ her~by •eubmitted fo Perreyclear Pointe Horizontal Property Regime 111 de1cribid •• follovat ALL those certain pieces, parcela or tracta of land, vith the butldinga and improvements thereon, 111tuate, lying and being in the City of Charleeton, State of South Carolina, and bein1 1hovn and designated. ae Lot 2A containing 27,216.602 S.P., lot 3 containing 22,"\0f,'29,. s.r~. lot 4\ containing 31,.87,661 s.r., Lot 5 containing 32,326,045 S,P,, ~~ot 6 containidg 15,367,061 S.F,, 11 Perreyclear Point" containing 34,383.618 S.F., and 3,01 Strip containing 920,574 S,F,, all •• ahovn on a "Plat of the RHurvey of St. Charles Subdivieton, City of Charleston, South Carolina" made Auguat 23, 1983, by George A, Z, Johnaon, Jr,, Inc., Engineer1-Plannere-Land Surveyor1, which aaid plat ta recorded in the IMC Office for Charle1ton County in Plat look AY, P•I• 34. laid lot a or parcela of land hereby conveyed have auch liu, ahape, llletea, bounda, location• and dimension• •• ar• •how on 1aid plat but butt and bound generally, according to ••id plat, •• follower Lot 2A, to the Northeast on the 1alt mereh11 of Aehley River, to ~utheaat on property of Three R Realty Company, to the South on tha "3, O' Strip", to the Southwest on St. Charla• Court, and to th• Northwest on Lot 3; Lot 3, to th• Northeast on the talt marehet of Ashley River, to tiie'S'ii"utheaet on Lot 2A, to tha Southveat on St, Charla• Court, and to the Northwest on Lot 7J .!:!!!...!• to the North on Lot S, to the East on St, Charle• Court, to the South on Lot 1, to the Southwest on "Out Parcel" and property nov or formerly of Julian E. Smith, III, and to the Horthveet on
Page 1 ' ' I BA0134 re 753 • .....• . ...-· J ··-· the salt merahea of AahleJ River1 Lot 5, to the Northea1t on St. Charlea Court, to the South on tot 4;"tO° the Southveat on the aalt ..rahea of Ashley River and to the Northwest on Lot 6: 1!?!_!, to the North and Northeast on St. Charle• Court, to the Southeaat on Lot 5, to the Southveat on the salt marahea of.Aahl•y River, and to the Northveat.on "Perreyclear Pointe": "Perreyclear Point", to the South and ~tiiea*t on•l St. ChufH Court, to the SouthvHt, Northwest and ffortheHt on the Hlt ,91arahe1 of Ashby River, to the East on tot 1 1 to the South again on a lift station aite and to the Southeast again on a lift station sites 3.0' Strip, to th• North on Lot 2A, to the East on property nov or formerly of Three R Realty co,pany~. to ~~· South on Orange Grove Road, and to the Neat on St. Charloa Court, TOGETHER vith a non-exclusive right to the uae of 6 1 of a 12' drainage easement lying on Lot 7 as shown on aaid plat adjacent to the co111111on boundary line of Lot 7 end 11 Perreyclear Point". Th• Land above described ia subjected to this Heater Deed aubjact to the followings l. A drainage easement over a 6' •trip lying on "Perreycleer" Point" adjacent to the common boundary line of "Perrayclear Point" and Lot 7 a• ahovn on aaid plats 2, Easement to South Carolina Electric & Gae Company datad April 13, 1965, recorded in Book P-85, page 196, in the RHC Offic• for Charleaton County1
3. Easement to South Carolina Electric & Goa Company dated January to, 1973, recorded in Book AlOl, page 134, in the RHC Office for Charleston Countyl and 4. An easement in favor of Grantor, ita agenta, independent contractor•, invite••, and aHian• for entry into and upon and paaaaa• over Reaim• Property for tha purpoee of facilitatin1 construction, ranovation, end eale of Apartments. ' I I f Ir . I • , B!lffO the aam• property conveyed to th• Orantor by dead of Batty H. Parka dated September I, 1983, and recorded September 2, 1983, in Book Wl32, page 169 in the RHC Office for Charleston County, South Carolina, ARTICLE Ill ADDITIONAL PROPERTY Orantor hareby reaerve• to itself, ita aucceHor• and aHiana, the rlaht to annex into the legim• the additional land de•cribad hereinbelov. The additional land which may bo annexad and mada a part of tha Ferrayclaar Pointe Hori&ontal Property Regime ia ·deacribed •• follova1
ALL that c~~l\ln ,p~eca" parcel, or ~ract of land, togethar with improvement• theraon, aituata, I lying, being ~n the City of Charleeton, State of South Carolina, and bain1 ahovn and de•iinated aa • portion of St. Charles Court on that certain plat entitled "Plat Of The Reaurvey Of St. CharlH Subdiviaion, City Of Charleaton, South Carolina", made Ausu•t 23, 1983, br Ceorge A, Johnson, Jr., Inc., !n1ineera-Planner•-Land Surveyore, which ••id plat i• recorded in the R.H.C. Office for Charleeton County, South Carolina, in Plat Book AY, page 34, betn1 that portion of St, Charla• Court bounded on th• •••t by that area daal1nated aa "3.0 11 0 11 11 8trip , "Lot 2A , "Lot 3 , and "Lat 7 r bounded on the north by 11 11 11 Parreyclear Pointe"r bounded on the vaat by "Lot 6 , ''Lot 5 , and "Lot 411 1 and bounded on the aouth by a prolonsation to the eHt of 11 tha •outharn boun~ary Una of "Lot 4 , Said property ehall be convayed subject to veter, eever, elect~icity, and other utility eaaemente aa are' neceaeary to ••rvice the Regime and Lot 7 aa ahovn on the aforesaid plat •. Tha aaid property ehall also be conveyed subject to an appurtenant
Page 2 ... 1·• • •I . BX0134 PC • i :-•. ,.. 754 • •• .. ,, easement in favor of the record owner of Lot 1 for purpoaea of inare•• and egr••• to •aid Lot 7. The .additional land deacribed above i• presently a public road riaht-of-vay. Orantor axpraaely reserve• the right, at Orantor'• election,' to petition appropriate aovarnmental entitiu on behalf of the Reaille to hav• 1aid road abandoned •• a public right-of-vay. Upon abandonment of tha uia of 1aid land 11 a public right-of-vay, th• 1ama 1hall be 1nnaxad into tht Parreyclaar Point• Horizontal Property Regime a1 a Common Element. Th• additional land, if annexed into the Regille, vill contain aaphalt pavtna which will be aaint1ined at th• Common Expunee of th• leaime. the percentage intereat of tha Co-ovnara in the ColllmOn !lementa vill not chenae aa'\.&1 rea\tlt ot the an,exetion of euch additional lend into the· l•ai••· '• Orantor 1hall elect to proceed vith annexation of th• Hid property into th• leaima on or before December 31, 1985 (herein 11 Filina Date"). The failure of Orantor to file, prior to the Filina Data, a aupplemental declaration to thia Kaatar Deed containina euch information a• then required bJ the Act ehall "\Cob1tltuta ·'an irrav.ocabla dachion not to annex euch ! i additional property into tha legilla. The declaration of Orantor'•·•laction to proceed with the annexation of the additional land aa part of the leaime ahall include all information required to ba included within a Haetar Deed
bJ tha Act effective at euch time at euch declaration may be filed. Any
declaration filed pursuant hereto •hall be deemed ineffectual until it 1e Hlad in the Office of th• Reabtar of Kaeaa Convayancaa for Charl••ton CountJt South Carolina, and it ahell be indexed under the name of Hid Grantor• or it• 1ucca11or in title (if any)• and th• taataa. All.TICLI IV APAll~TS AND CO~N.!LEH!NTS f. I Sactton 4.01 lluildin1 and ImprovHanta. Th• froparty ta located in the citJ of Chariaeton, Charleeton County, South Carolina, and ia acceaeibla froa Sto Charla1 Court. The project con1iet1 of th• renovation and aubmiaaion to a horizontal· I property r•aiile of f iva axi•tina buildina• located on the Land contaiotna a total of •ixty (60)~r•eid•nta~.epartmenta (auHaaqu•ntly herein referred to I
11 •• the "Apartasnta ), ' The location of the butldinaa and oth•r improv1mant1 are ahown oa th• plot plan, !xbibit "A"• paae 1 of l, attached hereto and incorporated by reference in thia Haatar Deed. Wi t hi n reeaonabla con•tructfon tolerance•,
n--- "' ,• I '• I ' ~... BK0134 755 .. ~. re th• dimeneion; area and location of the Apartmenta in the buildinga and of th• Co11110n !lementa affordina acceea to the Apartment• i1 1hovn on the floor
11 11 pbn• • Exhibit 1 • paaH I throuah 7, attached hare to and incorporatad b1 rafaranc• in thia Hastar Deed. The exterior of the building• ia ahovtl on
11 11 tha elevation plan• lab1lad Exhibit C , pagH 1 through 6, attached harato and incorporated b1 raferenca in thi• Ha1tar Deed. Tha lleaime cond1ta of two different typea of buildin1a containin1 Apart•enta. Eich of tha building typaa hH two floora or laveU and ia claaaifiad accordin1 to the kind and number of Apartment• occurring therein.
For purpo1•1 of this Ha1tar,Deed and the Act, th~ buildinss are daaignatad . 'r ~ ' . I •• type •w• and Type 11 1"~ '. Thire ari two baeic configurations of Apartment• within the Regime, and
tha •irror image or ravarae configuration of each. The Apartment configuration• are deacribed and de1ignated a• Apart~ent Typa "TH", and tha
riverlil confisuration tharaof designated 11 Apartment Typa ''TH-111 , and
11 11 Apart•ent Type F , and tha revarae configuration theraof d11ignatad 11
Apart••nt Type "F-1", and each configuration b deacrib•d in Exhibit 11811 •ttachecl hereto and made a part hereof b1 r1f1ranca. .·.·. lach Apart••nt it deaian•t•d accordin1 to !ta conf iauration on Exhibit "D", P•a•• l and 2, attached hereto and b1 raferenca incorporated h•raf.n. The location• of the buildings are 1hown on the plot plan, Exhibit "A", tnd the building• are da1ianated accordin1 to type on th• plot plan and on
Exhibit "D" hereof, luUdin11 number 200, 300, 500 1 and 600 are TJp• A buildin&•I and building number 400 i1 a T1p1 I building. The total around area covarad by all buildin11 i1 approxiaatal1 42,907 1quara feat (0.9848 acra1), and approximately the following around area lia1 under •ach building, includini ita decka and porcha11
Building 200 (Type A) 9,071 aquara feet (0.2082 acrH) lluildina 300 (Type A) 9,071 aquar• feet (0.2082 acraa) luildtn1 400 (Type II) 6,623 •quara feat (0.1520 acrH) lluUdtna 500 (Type A) 9,071 1quar1 feat (0.2082 acra1) lluildtna 600 (Type A) 9,071 aqu•r• feat (0.2082 acrae) The perkina ar.a cond1ta of 27, 900 aq~ara feat (O. 640 acra1) of ••phalt pavin1. The bitanca '·of tHa land• including lidavalkl, land1capin1 "\.: .., . '· . ,) '· i and improvement• thereon con1ilta of !approximately 93, 1 002.86 aquara feat '• (2.135 acrH).
Th• dimenlion1 (within reasonable construction tolerancee) of each b11Udtn1 and the location of the Common !lementa providing accee1 to aach
Daaa I. .. .,. ~ t i: • .;:-.f.
1, I 1, i . ,. ' ,,· ~ .... ~ 8K0134 l'C 756 but1din1 and the Apartment• therein are 1hovn on the floor plan• attached to thH HHtlr Deed •• Exhibit 11 B".
!ach buildin11 includin1 both t7paa, i• of vood frame conatruction on a concrat1 alab on 1rade. Tha exterior of ••ch buildln1 i• • combination of
brick van•ar, plywood 1ldln11 a~d a1phalt 1hingl11. loof1 are of 11phalt
ahln1l11. Tha exterior of aach type buUdin1 ii 1hovn on the elevation
•lane iabell.. lxhll>tt 11C11 heuof. Air conditioner condandn1 unite an
lodUd on the cone ta.ta. p,atio at the front of Type 11tH 11 and "TH-111 ~ ' ~ I ... 1) \ i Apart••nt1, end located on concrete elab1 at the rear of Type "P" and "P-111 Apttt•lnt1.
A Utindry buUdin1 ii to ba lo.cated on the Property aa 1hovn on tha Exhibit 11A" plot plan. The laundry building ii to bl of vood fr•H con1truction vith an a1phalt 1hin1le roof. The laundry buildin1 1hall not
b• furnbh1d vith any 1ppHance1 ilnd nothin1 herein 1hlll bl conatruad H
t11polin1 upon the Or1ntor any obH1atton to p~•c• applhncaa within Hid 1 leundry f»uUdin1. '\.:I~ · 1~ ~antt cipatad that th• 1te1im1 vUl contract vith an '• { appropriate entity to provide coin operated machine• in 1aid laundry buUdina. 81ction 4.02 Ap1rt•1nt1. There are 1ixty (60) re•idental apartment• knovn ind de1i1nated a1 Apartmenta, and eech 11 d11ignat1d for the purpoaa of any conveyance, l••••• or other in1trument affecting tha title thereof by a thraa•di1it number. The location within the buUdinga, tha aHignad nuaber of aach Apartment, and the 1raphic dHcr~ption and area of each '. ' r Apart••!it ara 1hovn on 'the floor plan1, !xhibit 11111 , P•IH l throuah 7, attached h•r•to end by reference incorporated herein.
l1cb Apartment conftauration ii epacifically deacribad in Exhibit "H"; pa1a1 l through 6, attached hereto and incorporated herein by reference, and aach Apart•ent ii 1anarally da1cribad hereinbalov. An ApartHnt 1nco11pHH1 and lnc1ud11 tha •pace of t.hlt portion of thl
buUdin* which ii delignatad on Exhibit "A" hereof by a thraa-diait number and ii bounded al follovH, ... I . I) by the upper 1urface of the 1ubfloor or concr1t1 floor 1lab, a1 tha Cale ..y ba1 b) by the interior aurface1 of all vall 1tud11 the unfinbhed interior 1urface of door and vindov fra11ea1 the .unftniahed, exterior 1urface of doon. 1Hdin1 to and from thl Apart•ent and the exterior 1urfac1 of vindov and door 9la111 and c) by the lover 1urfaca of all ceilin1 joiata.
An Apartment conaequently and further include• the follovin11 .. ..~ .,,~"· .. .
"\,., 1 ' ,, .. ;BK0134 re 757 ... a) all ext•rior door• except for their finiehed, ext•rior eurface, and all interior doore1 b) all vindov and door ecreena and 11•••1
c) all plaetar an~/or 1yp1u• board, and all ceramic tila1 d) all int•rior paint and fini1h••• whether applied to floora, valla, cailin11, cabinate, or oth•r woodwork and trim& •) 'all carp•t and underlay, aha•t vinyl •nd und•rlay, parquet vood, and othar floor coverin1•1
f) aaokl d•tectora loc•ted within the Apartmenta1 I 1) all built-in cabinet• and ahelv••I \· h) all interior lighting fixturea, and the bulba ueed in Htarior Hshttna fbtuna when controlbd by a 1vitch located within aa Apartm1nt1 I lI 1) th• he•tlng, ventilation, and air conditiontns ayate• (includina tha cond1n1ing unit) eerving tha Apartment •xcluaiv•l11
j) all alectdc, telephone, and other wirina, and all ncaptaclH, awitchee, and brHkar boxee contained in the floon, valla, and cailinaa boundina ·the Apartment vhich ••rv• the Apart••nt • ' ixcluaivaty1 ... • 1 k) all vatar, drain, Hwer, and v•nt pipu and all cohduita for ~irina 1ervln1 the Apartaant axcluiivaly1 ( 1) vat•r heater and plumbina fixtur••I •) the iltdrvay located vithin an Apartment vhtch providH accHt bltvHn lavd1 or floon thuaof (Typ• "TH" and "TH-ll" Apart•anu only) I
h) 111 hcb:culatin1 fana includin1 tha fixture in bathroom•, and thatr vant and outlet cap1 and
o) th• followin1 ~ppli•l\i:H t.l oven/rrns• with a ~ood abova, diahwaahar, 1arba1• diapoeal, and raf~~gerator/fraazar. !action 4,03 Coaaon lla•enta. All portion• of tha Property not
ancoapaaa•d and includ1d vithia th• Apart••nta are co111110n alaaanta (COllaOn I
I i· 11•.. nti)• I Section 4.04 Limited Comon Elemanta. Th• Limited Comoa !h••nta I are tho1a Co11111on El•m•nta vhich ara appurtenant to and ra1arv1d for the u1e \1
of I iinal• Apart•ant or aroup of Apartmanta to th• 1xcluaion of other ':\ Apartalnta •• follovi1 a) thil lurface area and railing• of patioa, decka, and ataira ara 1 r•••rv•d for u1• vith the Apartment or Apertmenta from which they ar• aol•ly dinctly acceHibl• by nor.al aeena, or provide only •j acceaa th•r•to1 and r b) •xterior light f ixturea ar• rea•rved for u1e with the Apartment• h•vin1 awitchea to control them, \!, l•ction 4,05 Cen•ral Common Elementa, General Comnon includ• !lemen~a I the fol1ovini1 -I I •) tha·tandJ {p l -'\,.:, 1 ' I. • ! •• I b) ...... airderil. ,_ . faetening1' fr11min11. 1111f..f1 ftft_... •. ... BK0134 PC 758 A\.; 1.. ;! .... ·' c) all decks, ace~•• balconies and a~aira (except forithoae decka and ataira herein declared to be Liadted Co111111on Element• or a part of the Apartments), roads, driveway• and parkin9 areaa, aidewalka and I valkvaya, 1andacapin9 1 laundry building, 1oad-baarin1 and non-load bearing valla, attica; and
d) ali other portion• or part• of the Property not daacribad in thia Article aa being included an Apartment, and not de1cribed in l in ~ thia Article aa a Limited Connon Element. faction 4.06 Plot Plan, Floor Plana. and Elevation Plana. The plot plan ehovin1 the location of the buildings and other :lllproveaent• 11 attached htreto aa pag• l of l of Exhibit "A", and incorpout•d hutin by tef•rendo Th• floor plane 1hovin1 the dimendon1, area and location of '*ch Apartment ta attached hereto ae pagea l through 7 of Exhibit "B" and incorporattd hartin by referenc•. The elevation plane 1hovin1 the dimentionl • area and location of Co111111on !lam.en ti affordin1 accaH to each Apartment are attached hereto aa pagu 1 through 6 of Exhibit "C" and incorporated herein by reference. Section 4.07 Ovnarahip. Th• value of th• Property i• Three Million ' •. Four Hundred Sixty-nine Thouaand •Four Hund~ed Forty' and 00/l~O ($3,469;440.00) Dollara and the value of each Apartment ta Ht forth on Exhibit 11D11 attached hereto and made a part hereof by refaranca. Th••• valua1 are fixed for the aola purpoaa of complyin1 with th• Act to aitabliah percentage of ovnarahip for purpoaea of ovnarahip of tha Common 11tmenti and liability for Common !xpen•• a11a11m1nt1 and votin1 right• and
°\;, 1' I, 4 ol I 1hall not prevent ~ach Co-owner (H deUned in Articl• V, Section 5.01 'I h•raof) iro• fixing a.different circwaatenti•l value to hi• Apertaent in all aort• of act• and contract•. 8actton 4.08 Ownarahip oi Co1111on !lament1. An undivided ovaer1hip intera•t in tha.Coaaon llementa, axpra11ad •• a percent•1• ba1ad upon the relation of the value of the Apartment to th• valu• of the Propart1 ta
appurtenant to each Apartment aa Ht forth on Exhibit 110 11 attached hereto and ..de I part hartof b1 reference. !bia undivided interHt in tha Comon !la111nt1 •hall not be Hparatad· from th• Apart111nt to vhich it appertain• and 1hall be daem1d to be conveyed or encumbered vith the Apartment even though the intaraat i• not expre1el1 •antionad or dHcribed in the dead or other in1trument. Buch percent•1• 1hall not be altered vithout the acquiaacence of all tha Co-ovnara;
Ir °\;, '-/ · I, •.I. ,1 '
Page 7 '• j ·'· ... . •' ., BK0134 re 759 H ·~
., • vot• of th• Co-ownara h conducted, each Co-owner shall be entitled to ca1t tha number of votes ••t out in Section 4.08 hereof. The affiraetiva •ote• of thil Co-ownera owning a majority of the Hdgnad valua of th• tropart7 praHnt in person or by proxy at a duly called •Htin1 shall b• · required to adopt dachiona unle89 thh Haeter Deed or Bylaw• require • different parcentaga for a particular act or decieion. Section 5.03 Council and Board of .Diractore, and Manager. !.ich
Co-ovner 1h1it be a ·~e.r o,f,. an~ constitute th• Council of Co-ovnen · . ·I · i (herein referred to ... th• "Council"), en aHo'eiation which ehell act by and throu1h a board of diractora (herein rafarrad to •• the "Board of
11 Diractora ) tlected by and from the Co-owara. The Co-ovnar• may at any time upon the affirmative vote of a majority of thil Co-ovnara incorporate the Council in accordance with the Act, and in tuch event thil name of th• corporation ehall ba Parreyc1aar Point• Council of Co-ovnera unlea1 euch nam.a i• not available for, uaa by a corporation. ~ I. • Section 5.04 Bylave and Regulation1. Th• Council •!td the
ldainiltration of th• laaim• eha11 be 1ovarn1d by (•) tha bylave (herein
dfjrrad to ae the •i11ylav•") attached to t_hh Haater DHd H !xhibit 11!" and har1b7 incorporated by raforance, and (b) any regulation• (herein referred to aa tha 1'h•u1ation•") adoptad pursuant to th• llylave. Th• lylawa u7 b• aodifiad or amended only in the unnar Ht forth in Artic1a Xl of thie Hait•r D*'d•
AlttlCLI Vl ... CO~N ~~S!S Section 6.01 Liability of Co-ovnera. The Co-owner• of th• Apartment• are bound to contribute in proportion to their reapectlva intaraeta in the co.. on lle•ant• ••t out herein toward the follovin1 axpea••• (herein
referred to ·ae "Co111111on !xpen•••") t
a) tho1a axpan1ea of 11aintainin11 rapairin1, or replacing the Co11111on !laments •• qualified by Article VI, Section 6.04 of the Bylav11 b) in1urance premium• paid by the Council in accordance vith the provi1ion1 of thi• Ha1ter Deed and the Bylavea BK0134 PC 760
c) indemnification of membara of tha Board of Diractore, and Council officera H provided in Article XI, Section U,04 of th• lyla••S and d) any othar expense (includlns contributione to raearva fund•) 1avfu11y a1reed upon by the Council a• nac••••ry to the oparation, adminietration,•and preaervation of th• .Regima • 1 Th~ liabilitJ of eech Cd-ovnar for the Common Expen1a1 1ha11 be limitad. • f to the ..ount• for vhich h• i• •••••••d from tim• to ti.ma in accordance with th• Actt thia Kaatar Oaad, and the l1lave. Ho Co-ovnar ma7 exempt htmaalf hoe conttibutina tovard th• Common ExpenHa by vaiver . of the uH or inJOfllent of th• C0111J11on !1emant• or by abandonaent of hi• Apartment. iaction 6.02 Liability of Purchaaer, Tha purchHer of an Apartment . (othtr than a purchaear at a forecloeure aale aa daacribad in Section 6.04 of tht• Article) ahall ba jointiy and 1avarally liable vitb th• aallar for the latter•• pro-rata •hara of Common Expenua up to the tima of th• conveyanc•• without prajudice to th• purcha1ar 1a right to recover fro• the a•11er th• amount• paid by the purchaaar aa euch joint debtor. The Council thi11 ieeua to any purcha••r upon requaet a atatement of any amount• due b7 th• eallar of any Apartment and the purchaear'• liability under thte paraareph ehell ba 1iJlitad to the amount aa eat forth in tba atatamant. lectton 6,03 Lian on Apartment .for Unpaid A••••.. •nte. All auma aeeeeead but unpaid for tha 1har• of the Common Expense• charseabla to any Apartment• toaather with euch inter.. t thereon and coats of collection
ther•of •• •r• hareinaf~er provided, shall con1tituta a charge and
conUiluia1 Hen on th• Apartment. Upon the Hla of an Apartment, euch
••••••••nt ahall ftret be.paid out of th• aalaa price, or by the purchaaar in prdertnca over an1 other HHHmanta or char1ae of whatever nature except th• fo1lovinat A\.;. 1 · f, 4 1\ \ a) tix 1i•n• in favor~.f1 an1 ~H••aain1 ii,nit for taxH •~ich are paat due •nd unpatda and I i '• h) the 1ian of an1 firat aorta•&• duly recorded, A notice of the U.tn may ba filed for record llJ the lagiu in th• Office of th• lesietar of Kaan• ConveyancH for Charlaaton County, South I Caroltna1 but in no avant ahall any claim of lien be filed until auch aW11a remain unpaid for not la1a than thirty (30) daye after th• eaaa ahall baco11Ut
du•. The notice of lian •hall illao aacura all HHH•Hnta co11lin9 due ttiaraafter until th• cl•i• of lian ta eatiaft•d.
Thli 1tan may be foracloaad by tuit by th• Manager or tha Board of Director•• actins on behalf of th• Council, in like manner ae a mortgage of BK013~ PC. 761
real property. In any auch forec1oaure th• Co-ovnat' ahall h required to P•i Ii relilaonabb rent for th• Apartment aftu th• commane1 ..nt of th• toreclo•ura action, and the plaintiff in 1uch fot'aclo1ut'a ahall ba antitlad
to thi appointment of f..:-rli~eher ,_, colbct! the rent. Tha· ~nsger or th• ' \ I loerd of Diractora, actin1 on behalf of the Council, 1hall have povar to bid in •t any foreclo1ur1 aala and to acquire, hold, lea11, mortsaga, encumber, and conv•1 an Apartment. :· •utt to i:.covar a aonay judgment for unpaid aa1H111aqta· 1hall be .atnt•tnabl• vithout foraclo1tn1 or vaivin1 thia lien.
89ctlon 6.04 r\t~lo•ure •.1 Where t~• mortgagee or.other purch11ar of I I an Apartment obtains title ae a rHult of 'tha foreclo1ure of a aol't1a1a, or b7 da1d in 1ieu of foreclo1ura, auch acquirer of title, hie aucce11ore Ind Hdpi, lilh11l not bit 1i1bla for th• 1bara of the Common !xpanH• or· •••••••Inti b7 the Co-ovner chargeable to euch Apartment accruin1 after the date of recording auch •ortaaae but prior to tha acquilttion of title by auch acquirar. Such unpaid a1~e11manta •hall be d11mad to ba Co111on !xpanaae collacttbla from all of th• Co-ovnera, ~ncludtn1 auch acquirer and
hie 1ucc~~•ora and •••tan•. Section 6.0S R1cord1. 'flt• Board of Directore. 1hall keep, or cau1a to ... . ;. ' ' bi kept; • book vtth a detailed account, in chronological order, of the r1a1tptt •nd exp1ndttur11 afiacttn1 th• Prop1rty and lta operation, id•inlatritlon, and pra1arvation, and apactfytna the aaintanance and repair expenaa1 of the Co.;..on !lament• arid an1 other expenaaa·tncurrad. Both the hook ancl the voucher• accreditina the antdH made thereupon ahall be avaUabla for axutnation bJ alt the Co-ovnara at convenient houre on '· ARTICLB VII !AS!H!HtS, COVENANTS, AND RESTRICTIONS Section 7.01 Uae of Property. !ach Co-owner ihall be entitled to the
eacluaive ovnarahip and poaaeaaton of hie Apartment and tllaJ uaa the Co1111on lle•1nt1 in accordanCI with the purpoaa1 for vbich th•1 vare intended vithout hlnderln1 or infrtngln1 upon the lavful rtahta of other Co-ovnera. The Board of Director• •hall reaolve an1 queation regardina tha intended uae of th• C111111on lle11anta. laction 7.02 Future !a1emanta. The lloard of Diractore •a1 arant HHmanu for the benefit of ttie Property, and aach Co-ovnar, by the acceptance of the dead .to hla Apartment, grant• to the lloard of Director• an BK0134 re 762 irrevocable pover of attorney to execute, deliver, and record for and in the name of each Co-ovner, auch instrument• aa may b• necaaaary and propar to the *rantina of auch eaaementa. Section 7.03 Encroachment•. If any portion of the Common Element• now ' encroach•• ~pon any Apartment, or if any Apartment nov ancroachaa upon any other Apartmant or upon any portion of th• Co111111on !lementa, or if any euch tncroachmant ehall occur aa a result of (a) the aattl!na or ahif tina of th• Land or any blprovementa, (b) the repair, alteration, con1truction, or reconatruction of th• Co1111110Jl !le111ent• made by cir vith th• conaent of the Ir . I. Counci1, (c) th• repair or con1truction of an Apartment follovina dlllllll&a by iirl or other ce1ualty, or (d) condemn1tion or eminent domain proceedin&•• a •*lid tai111ent •hall axt1t for auch encroachment end for it• maintenance.
Section 7.04 Riaht of Acee••· The Council 1hall have th• irravocabl~ rtahtt to ba axercilad by the Hanaa•r or the 11oard of Dtrectora, to have acca9a to each Apartment from time to time durina reaaonabl• houra aa aay be n•c•e1ary to p•rmtt th• in1pection, maintenance, repair, or replacamant of any . of the Common Element• or for 111kin9 emeraency repaira necaaear; to "\,.:. 1 • •, ~ ,\ prevent dma.1• to the Property. '• lection 7.05 Haint1nance of Connon llement1. The 11aintanance, repair,
and replacement of the Common Element• and t~e makina of any addition• or improvemanta th1reto ahall b1 carried out only aa provided in the Act, thia
Ha1t1r Deed, and the lylav1. 'Ih• 111int1nance, repair and raplacemant of all of th1 Cen1ral Co111on !lamanta or Limited Co111111on !lament• on the Prop1rty, except tho•• are•• which 11u1t be maintained by th• Co-ovnart of th• Apartaanta in a . 1tvan lluUdf.n1 purauant to the tana hereof• 1hall be a COlllOn txpin••· th• r11pon1ibility of the l•tim• for 1uch aaf.ntenance and I repair 1ha11 include tho1a portion• of th• Cen1rat Co111111on !lament• and th• ll I Li•it•d co ..on !lementa which contributa to the 1upport of the buildin11 and ! a11 conduiu• duct1, plumbing, vtrf.n1 and other facf.Utf.11 located ill the 01n1rat Comaon !lament• and tha Limited Common !lament• (except thoae
allocatacl to an Apertm8'.i: 1 'in'· a 1i"1en butld~na by the Ha•t4tr DHd or by action of the Realm•). Should any incide~tal daaa1• ba cauHd to any Apartment by virtue of any ,...vork' vhich;. ••1' be dona or,. cauHd to be done by th• Ra11m• in tha aaintanenca • repair or replacement of any Canaral or Limited Comaon !lament•, th• 1aid Reai•• 1hall repair 1uch incidentel daaas• and the coat thereof 1hell ba a Common !xp•n••· \ ..•• BK0134 PC 763
S•ct!on 1.06 Prohibited tlork. A Co-owner ahall not make arty addition• or taprovementa to or do eny work upon the Co111111on !lem1au or ma1ca eny
•tructural alteration of hi• Apartment without f irit hevin1 th• p~•n• and apeciflcationa of auch addition, improvement, vork, or alteration epproved by th• loard of Dtrectora, The Board of Directora •hall not •pprova any addition or iaprovement which in th• judgment of th• Board would jeopardt1a the aoundneta or aafety of the -Property or reduce the value of the Property, Mo ch•na• in th• exterior appearance of eny pert of a tiutlding •h•ll be a11owed unltaa purauant to an overall plen adopted by tha Board. Section 1.07 Structural Alteration•. , Upon tvo-thirda vote of the ... Co-ovaarll at a duly called •••ting of tht Council, eft•r tubmtaalon to tha Jloard of Diractora of det•il•d pleH end apeclficetione end a fixed prf.c•. contract for th• propoted work, th• Board of Director• may ba 1uthort1ed to • ••kt• or have 1tnactura1 alterationa made, to th• Oaneral Camon llaaanta and/or ttaited Co1111on 1i.a.n\8. '· ·No duration~.. or additiona vhtch prejudice I ! tht tt1ht of any Apartment Co-owner to th• full UH and enjoyment of hil Ap•rt.. nt ahall ha ..de without hil conHnt. Th• coat of th• foregoing ihall bi aaaaeaed ••a Co1111on !xpenee, Wh•r• any alteration or· addition• ae aforedeacribid (t.•. to th• Oeneral Co11111on !lem1ata or Ltaited Coa1on llia•nU) are txcluelvely or aubttantially exclusively for the benefit of th• Apartment Co-ovner(a) requ••tin1 the aeme, then the coat of auch alteration• or addition• ahell be aaaeaaed agalnit and collected aolely fr011 1uch Apartment co-ovner(a), and th• aaHaament ahall be levied in auch portion •• ••1 be 4et1r11inad aa fair and equitable by th• Board of Dtractora ana approved by not leH than a majoritT of the Co-owner• axcluaively or 1ub1t1ntt1111 txcluaivaly benefiting therefrom. Section 7.oi Partition. the Co111111on !1e11ent• ahell ramain undivided and •hall not ha the object of an action for partition or diviaion·of th• co•ovn1r1htp. Any covenant to th• contrary ahall ba void, Al\TICLI Vlll •. Ll!NI .,. . L Section 8.0l Attacb111nt. Ho lien ari•ina 1ub11qu1nt to th• recordin1 . -'\:,.:. ·1' ;, '· .1 . j I of.thie Maeter Deed while the Property reaain• eubj•c~ to the Act abell be affaetiv• a1ainat th• trop1rty. Durina 1uch period, lien• or encumbrance• •halt ariaa or be crHtad only 11ainat Heh Apartment and ita appurtenant undtvldad inttreat in the Connon !lem•nta in th• aame mannar and under tha tame tonditioni ind in •very respect ae liana or encumbrencee may ari•• or
Paae 12 \ , '''"
-\,:. 1 '' '· • ·' \., BK0134 PG 764 be created upon or egainet any other Hparate parcel of real property •ubject . to individual ovnerahipa provided, that no labor performed or ..tedals furnhhed vtth the coneent or at the request of a Co-ovner, hie aaentt contractor, or aubcontractor ahall ba th• b11i1 for the filina of • aachantc'i or aaterialman'• lien againet the Apartment or an1 other property of •ny other Co-owner not expreealy conaentina to or requeating the aame, ewcoapt that; ..uah axpHH eonHnt ahall be deemed to be given by each and
1 •••l'J Co-owner ihould the n:.d fo~' im.erlency rap~ira arila. tabo'li performed '• or il*t•riale furnt1h1d for th• Common !l•••nte, if duly authorised by the
~ouncil• th• Mana1ar, or th• Board of Director• in accordance with the Act, thia K.. ter Dead., or the Bylaw•• 1ha1l. be deemed to ba perfonecl or furntihad with th• expre11 coneent of each Co-owner, and ahell be the baei~
for th• UHn1 of a ••chHic: • or utadalman' • l!•n •sdnlt each of 'the. Apart••nU •nd ••, be "dtach~rged I... provided in Section 8. oi of thi•
teed.on i.02 Dhcharga. In the avant a Hen aaainat two or llOH \1 I Apart•enU bacomH eft.ctive, the reepective Co-own•n aoy w:emove their I Apart•ent frot1 tha lien by paymant of a perccntaae of the ••cured debt or I I char1• equal to their percent•a• of undivided interest in · the Comon t llement•. Upon pa,.-ant, diecharge, or other eatiefaction, the Apartment and it• undivided intare•t in the Co11111on_!lament• •hall ba fraa and clear of tha lien. Such pal'tial paJllent, Hti•Uction. or diacharga ahdl not pr.vent th• lianor fro• proceedtna to enforee hi• ria~t• aaatnat ;.ny Apartment and .... ! ;. iti appurtenant undivided lntereet in the Co11aon !lament• vh•n not to paid, 1att1tt•d, or di1char1ad. ii lecdon a.o3 I!!!!· , ...... nu, and other char ... of thia
St•t•• of anJ political aubdiv1eion, of ~ny epaciel bftproveaent d11tilct, or \ :I' ot any other tadna or aaHHina authority aha1l be aHHHd againat and coll•ctad on aach Apartment, vhtch ahall be carried on the tax book• •• a i .l aaparat• and dt.ttnct entity for that purpoee. and 11ot l•vt•d on th• ~ bulldtn1 or Property ae a vholc. Ho forfeiture or aale of the butldina or froperty •• a vhola fol' delinquent tax••• aaaaaementa, or charae• ehall ever
divaat or in anyvtae affect th• title to an individual Apartaant 10 lona ••
tax••• ••••••••nta, •nd charge• on the Apal'~ment are currently paid.
-\:. 1' '· • ,, '• I.
... BK0134 re 765 AllTICL! IX IHSURAHCB Section 9.0l Regime Insurance. The Council 1hell in1ure the Property 1gein1t flood• fire, or oth•r ha1erde, :lncludin1 extended covere1•• vand•li••• end malicioue aiachief, liability, vind1tor:m end ell other rialte •• ere cuetomerily in1ured egain1t vith reepect to building• and improvement• limiter to the buildings end improvemenu on the Lind. Such ineuranc• cover•a• eha11 comply vith the requirement• ••t forth tn Article IX of the i1-l•v•. ' · Section !J.02 Co-Ovnera Riek of LoH and Insurance Cov•nB•• The Council 1h111 tn1ure the Property agalnet rhka, without prejudice to the r:l.1ht of ••ch Co-oV1t•r to in•ure hi• Apartment on hi• owa account for hie ovn ben•tt.t. The ovner of an Apartment may, at hie ovn expen1il, obtain inliuranc• coverea• for loH of or damage to any fumiture, furnhhinge, · peteonai effects and other per1onal property, belonging to 1uch Co-owaer, and ••1• at hU ovn expenH and option, obtain :ln1urance coverage again1t pireonai U.ability for :lnjury to the person or propertJ. of anotliar vhUa
vithin 1uch Co-ovner'• Apartia~nt or upon the Oeneral Comon lh11ent1 end Lhlitad Collilon llam1nt1 • AU 1uch :ln1uranc1 obtained by the Co-ovnar of each Apertmant ihall, Jlielav~r·euc~ provi1i~n1 1hall be avaflable, provide '• that thi :lnaurer vaivH it~ . ~~gh~ of 1ubrogat:lon H to any cla:laa egatnet tc• t ... ,, l ·1 other ovn•r• of Apartment•, the Rea!••• and the -r••pective aervant1, •a•nta end 1u•1ti of •a:ld other Co-ovn•r• and Real••· Risk of 101• of or damaa• to iny furniture, furn:lahinga and pareonal effect• and other per1onal property belon1tn1 to a Co-owner vhich are placed vtthin hh Apartunt, or upon Oeneral Coamon.llementa and Ltmited Co1111on !lemante, 1hall beborna by tha Co-ovner; the ovner of an Apartment 1hall ba liable for injuri•• or demaga1
reeuittn1 from an accident or incident in hie Apartment to the •alia extant and clear•• that the owner of a dngla femily reddent:lal houaa vould be !tabla for an accident or incident occurrin1 vith:ln the hou1a.· ARTICLI I RECONSTRUCT I OM ' : i Section 10.0l When Reguired. In ca1e of fire or any other di1eeter, tha proceed• from any ineurance obtained by the Council •hall, except ee hereinafter provided, be applied to racon1truct th• Property, but recon• etruction •hall not ba cpmpulaor, ~~ere• tvo-thtrdeior more of the Property i• in need of reconetruction. ,In th• latter 1ituafion, the Board of ... .. ' • .~:: - ~ : ··.I "~t.i. •..tit
. I ·I • 0 I ..• ' I ..I . 8KOi34 PC 766 Director• 1hall promptly call a 1p1cial •••tins of the Council to d•t•raaina
vh1th1r the Property 1h1ll b1 r1con1truct1d, end recon1truction •h~ll take placa only upon th• unanimous vote of th• Co-ovn1r1. In th• av1nt that the \ Co-ovnHI determine not to recon1truct th• Property1 (a) the . Becratary •hilt ixecut1 and record, in the 11m1 aanner H thil Ha1ter DHd,! a certlflcit• •vid1nctn1 1uch dect1ton, and (b) th• proc11d1 .. 1h111 be d1llv1r1d pro-rata to th• Co-owner• entitled to it in 1ccordanc1 vith the prowi•lont made in the Bylaw• in a check jointly payable to each Co-ovn1r and any applicable mortgagee• of th• Apartment. Any r1con1truction 1hall be carried out •• provided In th• ftylaw1. Section 10.02 Co1te.'. 1'hetl th• Property i1 not in1ured or vh•n th• -i;:--- . ' ' lnaurllnca proc11d1 are inauffichnt t·o cover the co1t of recon•truction, the rebuUdta1 co1t1 1h1l1 bl paid H provided in th• Bylav1 unlHI d1ctdad otbervi•• by unanimou1 r11olution adopted 1ub1equent to tb1 date on vhicb -\,.:. 1 . I, • ,\ \ th• fir• or other di111t1r occurred. · •
ARTICL! XI ( AHENDH!HTS
lectton lt'.Ol Haeter Deed. Thie Haatar DHd may be amended only by written a1r11m1nt of th• Co-ownan owning tvo-thirda of the value of th1 Property. ln no 1v1nt ••Y the Ha1t1r D11d be am1nd1d 10 11 to deprive th• Orantor of any rtghtl 1ranted herein. Th• Or1ntor reierv11 th• ri1ht to aakt corrective am1ndm1nt1 to th• Ha1t1r Deed and/or th• By-lava without tha vote or conaant of Co-ovn1r1 or th•ir aort1age11. iiction ll.02 Bylava. Th• Bylav1 aay ba. 1111ended by the 1ffimtiv1 vote ot the Co- ~vn1r1 ownina tvo- third1 of th1·v1lu1 of th• Propa~ty. ..._ Section ll.03. Hort111111, All aort111e11 of th• Aputmantl (H recorded pur1uant to Section 14.0l of th• Bylav1) ihall be notified at l1a1t thirtJ daye pdor to action bein1 taken on eny propo11d amendment to the Ha1t1r Deed or Bylav1, 1xc1pt vh1r1 1uch amendment 11 a corr1ctiv1 amendment aade by th• Orantor. Section 11.04 l1"i:ordin1. Mo ~endaent to tbil Ha1tar DHd or tb1 Bylav1 •hall b• 1ff1cttv1 unle11 and until recorded in tha Office of th•
Re1i1ter oi HHna Convey~~· - for Ch-.rlHton \County, South Carolina, 11 ' • required bf th• Act,
ARTICL! XII HlSCELUNEOUS Section l2.0l Applic•tion. All Co-ovner1, tenant• ...... 111ploy111 of ,.,. _____· ,·,
• • i I ,, "\,;•. , , '· 4 BK0134I re 707 \ I .. aanner uile the Property or any part thereof ahall b• aubj•ct to th• Act, thi• Maatar Deed, th• lylava, and the Ragulationa. Th• •••••ant••
c:ovaaante, r ..trictiona, and · condttiona in thh Haatar Daad l'UD vtth th• Prop•rty and bind and inure to the benaf it of any per1on havtn1 an tntara1t in th• Propart7. Saction 12.02 Compltanca. !ac:h Co-ovner ahall co111pl7 Hrict11 with tha l7llV1, vtth th• lagulationa, and vith th• c:ovenant1,· c:ondttton1, and r•1tric:tion1 1at forth. or referred to in tbia Haater Dead or in tha daed to hb Apart••nt. Pailura to comply aha11 be ground• for • civil action to
~ 1" i,"" ,, 1 • recov•r 1uma du• for duiaae• or injunctive trelief or both, iaaintainab1e by '• th• Bo•r~ of Diractora on behalf of th• Council or, in a proper c•••• bf an aaari•v•d Co-OV1\ar. i • lec:tf.on 12.03 Waiver. No provilion of thit Ha1ter DHd 1hal1 ba deemed to have bean abroaeted or valved by r•••on. of •nr failure to enforce tt; ra1ard1eH of $ha numbar:. of •violationa tor breachH Vhic:h UJ hava occurracl, Section 12.04 Conflict•. ln th• event that 1n7 of the provi1ton1 of thU Ha1ter DHd conflict vith the providon1 of the Act, the Act 1ha1l cOlll:rol. l•ction 12.05 Regulatory Document•. The legima ahall be adsainiataracl in accordanca vith th• Haeter Deed, lylav1 of the Council and 1uch other reaulationl aa •ay fro• ti•• to ttma be promulgated by the Council and/or loarc1. ••ctton lZ,06 Actual tocatton Controla. In interprattn1 lllJ and all pro•t•ton• of thi• inetru••nt,'tha exhibit• attacbadthereto, encl 1ubaequeat Ir' • lo • cl••d• and aort1a1H to individual Apart11enu, th• actual location of th•· Apart••nt 1hal1 ba deemed conclulively to ba the property tntendad to be conv•y•d• re1arvad or ancumberad notvith1tandtn1 an7 •inor daviatton1, •tther horl1onl:ally or vertically, fro• the propoead location• a• indicated on axhibttl attached hereto. To the extent that auch llinor variation• in location of th• Apartment ahall exiat, a yalid_ eaaemant therefor, and for th• ..tntenanca ther,of, do•• and ehall exiet. lactton 12.07 Savarabtlity. The provbiona of ·thil Kaatar DH4 are ••••rabl•t en4 the invalidity of ona or mora provt•ion• 1ha11 not.be daemad to impair or affact in any lllllnner the validity, enforceability, or affect of the re•dnd•r• "\,;, 1 · I. , ,I ., nu1134 re 768 '\:. 1 .- l, • •• I I • Saction 12. 08 Captions.. Caption• ara ineerted, in thie Haatar DHd only u a ilatter of cmnvenience 1 and 'for reference• and in no vay dafina. lillitt or describe the acope of thia Heater Deed or any provhion of it. Section 12.09 Cender and Humber. All pronoun• 1hall ba daemed to include th• •••culina, tha feminine, and th• neuter. and th• 1in1ular 1ball include th• plural and vie• versa, vhenovar tha context require• or parmita. Section 12.10 Taraination. All tha Co-owner• or' the aola Co-ovner of th• Property may vaiva tha Re1i11e and regroup or merga tha record• of· tha Apari:111nti vith. the Comon Elementa, provided that tha Apartmentl ·ara
un•ncumbtr•d or, if encumbered, that the creditor1 on vhoae behalf th• ancumbrancaa ara recorded agree to accept a1 aecurity tha debtor•' undivided C1Vttar1hip interest in the Property. Section 12.11 Accapt1nca of Dead to a Apartment. Th• acceptance of .. daed of conveyance, tha entering into of a leaee, or any other occupancy or u•• ot an Apartment ahall conatituta (a) an acceptance and ratificatioa of
I f th• provtatona of t~ Haa~ar Deed ~1 auch Co-owner, tenant, or occupant, and (b) an acknovledgemant by th• Co-owner, tenant, or occupant that tha Crantor MkH no implied or axpraH varrantiaa · ralatina to th• Apartment or to Comon llementa except for 1uch varrantiea aa ara contained in the dHd conv•ytn1 the , .... Section t2.t2 ltahta of Crantor. Crantor ahall have no laaal rtghta and obliaattona via-a-via tha Reatma except (a) in !ta capacity •• Hanaa•r
of the la1!11a; (b) in ~~·1cap,a~ity,1 •• Co-oler of an Apart••~t and (c) the riahtt and obliaationa herein apacif ically r•••rved unto the Crantor in tht1 HHt•r bead. iectton 12.13 Controlltns Lav. Thia Haater Daad ·and the bylav1 attach•d hereto •hall be conatruad under and controllad by th• lave of the lt1ta of 8outh Carolina. lacdon 12.14 Con1truct1on ind 111• Period. ffothtna herein to the contr•t'J "ith1tandtna, the Orantor, itl •a•nta, indapendant contrac.tore, tnvit•••• •nd a1migna, aay durin1 the period of renovation arid •ala of tha Apart ..nta, aaintain auch facilitiea •• in the aol• opinion of the Orantor .., b• raaaonabl1 n1ce11ar1 or conv1nient incidental to the ranovation and
~.I· I,• ,I I .··· .. "'\.-", 1 · •, " .1 . •. "il>1 I OK0134 PC 760 I• •• '• ••lt of the Apartmenu, :lncludina but without limitation, 1tora1• ar•H• con1truction yard•• Ilana. model apart111nu, conatruction ofUcH, HlH
offJc•• and "bueineea off:lcaa. IM VITNESS W!R!OP, St. Charle• Court A.uoc:latH, · a Hatted p•rtnerahip, hH c .. uHd thH• premiH• to b• axacuud :ln :lt• name and :lte ... ' I, '.JI. I Hal h~reunto affixed thia '' - day of J11.lfU"'!:J • 19 ~+. SlONEDt SEALED AND DELIVER!D ORANTOR IM THI PRES!NCE OFI St. Charla• Court A11ociataa, • l:lmit•d A4* partnarahip
Byt N. Barton Tuck, Jr., a 11n1ral ·:,· _/1//J. I i H~?I:o" .••• * *' *. * ... * .• * •:• *. *. * * •'• * * * * *. *. * * •••• I ITATI or SOUTH CAROLINA ) . comm or ~,IAM'/4 ~ HUONALLY APPIAl!D before 111 L~rt\.']t~" Q. /f_.µ,,L • I vho, on oath, Hy• that (a)h• HV th• v thin named St. Charla• Court Aa1ociate1, a limited p1rtnerehip, by Southam u.· B. Realty Corporation, a .1enaral partner, by V:lll:lam A. Laal:la, Ill, ita l'rHident, and H. Barton Tuck, Jr., • general partner, aign and 9eal th• Ha•t•r l!J9d~r•ycl•ar I PoJllte Hodaon~d Property Rea:lma, and that (a)h• vith ~ C. (..J.!.Ra'!""·••flt• vitneaaad th• execution th1ra7if. I ~ /f~U,. 4c 4-u!
I
'.I ;I
'C .... 18 I I • •,. ' ...... ' BK0134 PC 770 I. Exhibit 11D11 To Maater Deed of Perreyclear Pointe Horizontal Property Regime Table of P•rcentaae Value• of th• Apartment•
Apartment I tud lut11Ubt !Jpt Value Apartment Configuration Vote• and Percentage Valua1 of Ownarahf.p of Co111110n !leaenl •uttdint 200 (TJPe A) · ' ! 201 $60,000.00 TH-11. l.73l 202 60,000.00 TH 1.73 10, eo,000.00 TH-ll 1.73 204 60,000.00 TH 1.73 205 60,000.00 TH-R 1.73 •o& 60,000.00 ,, TH 1173 207 . 60,00~.0l)I' '· ~ ·TH-Jl \ l.73 208 60,000.00 TH '• 1.73 209 60,000.00 'l'H-1· 1. 73 210 60,000.00 tH 1.73 211' 60,000.00 "\,.:. 1' ;, "- in-1 l.73 2U 60,000.00 TH '• 1. 73
,':'· lutldf.n1 300 (TJP• A) . 301 60,000.00 'l'H-l 1.73 301 60,000.00 TH 1.73 303 '· 60,000.00 . TH-I 1.73 .. 304 60,000~00 TH ·.~· 1. 73 305 60,000.00 TH-I 1. 73 306 60,000.00 TH 1.73 307 60,000.00 TH-l 1.73 308 60,000.00 TH 1.73 309 60,000.00 TH-I l.73 310 60,000.00 TH 1.73 311 60,000.00 TH-l 1.73 312 60,000.00 TH 1.73 luildln1 400 ('fjpt •> 401 49,360.00 F-ll 1.42 402 49,360.00 :t· r-a 1.42 ..,, 403 49;360.00 r 1.42 404 49,360.00 p 1.42 405 0,000.00 F-lt 1.41 . 406 0,000.00 r-1. 1.41 407 0,000.00 , 1.0 "; 408 0,000.00 r l.41 409 . 491000.00 r-a l·.u "10 49,ooo.oo ,,.a·. --{ °t u 411 1.41 0.000.00 ... 1~41 :;· 412 0.000.00 r 1•41 . ;~.. ' ~· I' .. · .. ' .. ~ .. · lutldin1 5do (TJP• A) ... " .. " 501 . &0.000.00 ' i ;oi TH-I 1.73 . sos. 60,000.00 TH 1.73 60,000.00 l.13 ~04 60,000.00 1. 73 ~05 &o.000.00 TH-It~-· 506 l. 73 60;000.00 TH 1~13 $01 60,000.00 tH-ll 1.73 SOI 60,000.00 TH l.73 J 509 60.000.00 TH-ll 510 l.73 60,000.00 !H 1.73 SU 60,000.00 TH-It l.73 512 10.000.00 !H 1.73 I I I l • i •• '. ., . . I• Ii Aportment I and 8k0134 PC 771 8ut1dtn1 t)p• Value Apartment Confiauration Vote• and Parc1nt11• Valu1a of Ovnarahip of Co11110n ll1m1nta
lutldtn1 600 (TJp• A) soi f6o,ooo.oo TH-R l.)31 502 60,000.00 \'II 1.73 &03 60,000.00 TU-R 1.73 604 60,000.00 TH l. 73 605 60,000.00 TH-I 1.73 606 60,000.00 TU l. 73 607 60,000.00 TH-R l.73 608 60,000.00 TH 1.73 609 60,000.00 TH-I 1.73 t 610 60,000.00 TU 1.73 611 60,000.00 TH-ll l. 73 612 60,000.00 TH 1.73 torAL f3,469,44o.oo ·100.001 I......
The abova ftguraa ara adjuated by ro~ndin1. Actu•l owner1hip int1r11t r1pra1a~ta the value of thi individual unit vtth relation to the value of th• vhol1 Property. li82/t L·'·
. ~. -.; . : ' ·i 1. ., ,.1 " ! .... ''
·. ·_r:: ... ··.i ' ...•
-'(,.:,'I' 1," .1 '•
'\,;. 1' '· • ..1 '•
D .... 4 -• .,. • •• ... ••-•• .. I ~ I 1 ·.!!..; ... .". ·, I' 1 '. ~·t ' ; ,. ' STATE OF SOUTH CAROLINA ) FIRST AMENDMENT TO MASTER DEED ;· " ) OF PERREYCLEAR POINTE Ih .. COUNTY OF CHARLESTON ) HORIZONTAL PROPERTY REGIME 1:1/. 1 1 Thill FIRST AMEND~ TO '1't\sTrtk DEED o~ PERREYCLEAR PO~NTE HORIZONTAL ;(; '• r.I PROPERTY REGIME i• made by St. Charles Court Aaaociatea, a limited partnership (aubeequently herein referred to aa the "Grantor") this 1Q!!L day of __H_•r_c_h ______, 1984.
N I T H E S S ! T Ht WHEREAS, the Grantor heretofore eetabUahed Perreyctear Pointe .Horizontal Property Regime by execution and recordation of a Master Deed therefor, dated January 16, 1984, and recorded in the R.H.C. Office for
Charleston County, South Carolina on January 20, 1984 1 in Book 0134, page 7S2 (aubaequently referred to as the "Heater Deed"): and WEREAS1 the Grantor ovns the fee simple interest to the Property, including all Apartments of Perreyclear Pointe Horizontal Property Regime: and 11HEREAS, Grantor ia desirous of amending aaid Heater Deed aa herein aet . '\.'. 1' '· ~ ,, forth; '• HOW THEREFOR!, for a~d in.: cona~~era~ion of the ;premises and other good
'! and valuable consideration, receipt of which ia hereby acknowledged, the I Haater Deed of Perreyclear Pointe Horizontal Property Regime ia amended aa I foliowe: 1 t. The laat paragraph of Article IV entitled "Apartments and Convnon
11 Element:il 1 Section 4. 01 entitled "Buildings and Improvements", ia deleted, and the following paragraph ia inserted in lieu thereof: Prior to closing of title conveying an Apartment to a person or entity other than the Grantor, each Apartment may be aupplied vith individual clothaa washer and dryer connections, in the diacretion of the Grantor. 2. The following described Property ia released and deleted from the Land (aa defined in the Master Deed) and shall no longer be subject.. to the Master Deed. ALL that certain piece, parcel or tract of land situate lying and being in the City of Charleston, State of South Carolina and being ahown and deaianated as Lot 6 containing lS,367.061 square feet, aa ahovn on a "tlat bf th~ Re~urvey of Sf$, Charles Subdivision, City of Charleston. South'· Carolina" made August 23, 1983, By George A. z. Johnson. Jr., Inc., Engineers-Planners-Land Surveyors. vhich aald plat is recorded in the R.H,C. Office for Charleston County in Plat Book AYe page 34.
Said Lot 6 has such •be, shape 1 metes, bounds• location• and dimension• aa ahovn on aaid plat and butts and bounds generally. according to aaid plat on the north and northeast on St, Charle• Court. to the aoutheaat on Lot S, to the aouthweat on aalt marahea of the Aahl:ey River, and the northwest on "Perreyclear Point". IK H -1 3 6 l'G 6 8 6
"\;. 1 ' '· 4 ,, l. Crantor hereby reserves to itaelf, ita auccessora and asai1na, the
right to annex the property described in paragraph 2 hereinabove into the Regi111e (as defined in the Master Deed). The percentage intereet of the Co-ovnera (ae defined in the Heeter Deed) in the Co111111on Elements (aa defined in. the Heater Deed). vill not change as a reault of the annnexetion of euch add:lt~onal land into the Regime. .Cran tor shall elect to proceed vi th annexation of eeid property described in paragraph 2 hereof into the Regime
on or before December 31, 1986, (herein 11 F1Ung Date"). The failure of qrantor to file, prior to the.Filing Date, a aupplemental declaration to the H... tn Daed conUinina auch information ae than requlrad by the Act •hall constitute en irrevocable decleion not to annex said additional property into the Regime, The declaration of Grantor's election to proceed vith the
annexation of the additional land as part of the Regime shall include ell information required to be included within a Heater Deed by the Act
effective at auch time 19 1euch'-ded.arat!on ~ay be filed, Ar,y declaration « ' I · • t .. , I filed pursuant herettt ahall be 1deemed ineffectual' until it h filed in the Office of the Register of Heane Conveyances for Charleston County, South CaroHne; and it ehall be indexed under the name of said Crantor, ot its
•ucc•••or i~ title (if any), and the Re1ime. 4. Except as herein expreeely amended, the Heater Deed, aa amended by thil Pitet Supplemental Declaration, le herevith ratified and reaffirmed, The porcentilge interest of the Co-owners in the Co111111on Elements le not affected by this Pirat Amendment to the Haeter Deed,
~. In the event of any conflict batvaan the term• of the Haatet Dead and thh First Amendment to Master Deed of Perreyclear Pointe Horizontal Property le1ime, the latter ahall control,
IH WITNESS WHEREOF, St. Charles 'Court Aasociatea, a limited
_partnership• he• caused this First Ame~dment to Heater Deed of Perreyclear Pointe Horizontal Property Regime to be executed in it• name end it• aeal
hereunto affixed aa of the day ~nd year first above Yfitten, ... .. I SICNEDt SEALED AND DELIVERED . GRANTOR Iff THE PRESENCE OFt St, Charle• Court Asaociate1, a limited partnership Byt S. Re1lty Corporation, a
III, President Tuck, Jr,, a general pa ih 71-( Tuck, Jr. Page 2 - ·' . ,. .. .-. I IK H ; I 3 6 l'G 6 8 1
STAT! OF SOllTH CAROLINA ) ) COUNTY OF Charieston )
PERSONALLY APPEARED before me 'S,..rvlt~ :C R:> CnlL)f\ , who, on oath, says that (s)he saw the within named St. Charles Court I Aesociatea, a limited partnership, by Southern u. s. Realty Corporation, a general partner, by John H. Crabtree, III, !ta President, and N. Barton Tuck, Jr., a general partner, sign and aeal the Master Deed of Perreyc~ar P;lnte Horizontal Property Regi111e, and that (a)he with fbct.r b q_(' A ~ • .13\-C.i Cl *·r- i'itne11sed ~~e execution thereof. ~o.."'A;t-o.. T ~toWt'\
30t~
'•. •.... ' • 4. i . i . ' i i . . "".Yt..) . . ': -:::.. .
:~·1··~·\.'.\ .._. t·~·I u,• . \.,' -:: .···1.1 , ...... ~ . . : ~· .
:' ·;\ .,j!. ·: . j I "I' " . ~·- 'i~ . .1 · . ;,!·:; . ,J ..
°\.'. 1' I, < ,, . \ . '): .•· 'I . " '•
i ' • ~ ·~. :, 1. " ; i ~-;~. : j ' l "\.', 1' '· • ·l '•
.... I.
Page 3 .•. !K H- r :~ 6 l'f: 6 8 8
The underaigned. having heretofore contracted to purcheee Apartments in 1aid
Perreyclear Pointe Horizontal Property Regime• and in anticipation that
cloain1a of title vill occur prior in time to the recordati~n of thi• Firat . Supplemental Declarati\m!' dd •hed'with joi1' in the execution of the within . .. First Amendment ~. ~at.e.r D~ed of Pef reyclear Pointe Horizon tel Property 1 Regime to acknowled1e. that add title• to their reapective Apartmenta 1a aubjilJ:t. t'o ·-aa'id. Heater .;Deed aa amended by the within First Amendment to
Heater D~e~ of Perreyclear Pointe Horizontal Property Regime.
Apartment Number J / 0 ~cP;p____t,.\__
••• * •••.••••••••••••••••••••••••• * •••••
STAT! OP SOUTH CAROLINA ) ) COUNTY OP CHARLESTON )
PERSONALLY appeared befor,e ma Lynn L. Crookaf and a.ad• oath that (a)he saw the vi.thin named:, Om Raal]a andlnoo Haal]a aign. aeal, and aa their act and deed, deliver the v,ithin written inatr1191ent, and that (a)he vith Hugh H. Hadden ~ ! w:itnedaed the execution thereof.
l -/fyz & < X ~&< .10,t;,,
• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • * • •
StATi OP SOUTH CAROLINA ) ) cotrkrt OP CHARL!STOff )
PERSOHAtLY appeared before me Lynn L. Crooke and made oath that (a)he aaw the within n11111ed --"G"""ary;;;.c....;;B;;-;•....;;.P.-i""'pe~r-=----..--_,...... ,...---~ aign, aeal, and aa their act and deed, deliver the within written Tnatrqment • and that (•)he "ith ~"-u:a_h_H_._H_a_d_d_an______~v~tneuaed the execution thereof. I•
1182/j
Page 4 IK H I 3 6 PC G8 9 .._, ·, j JR1NS & 8utST mm. ·iN..O:trn & iHtilllll(~ . ¥.·oo. q..:?~-~/S-. / .: LP 198{ APR I 0 nf' 4: 50 Vo . : i· I. .' ,, ' .JA/· ..... !·:. !--.1 "!', .. ~:.1.~ liEGl5 f £1\ Mt ~N! CC'HVIVA-.Cf. ... r.111.nu;n::N f'OtnHV.$.t . ii.;~:., ...<'I. I·- ··, iii' : ,, _<;;._, TMS VERIFIED ' Recorded thla ,10 hhday o~ ..pl-~9.il.J ·:'. 8,\~ On Property Record Card " I. ¥.-/'],~ ~ltflrv Auditor Charleston Countr
"\.,', 1 · '· " ,\ ..
'····'·
.: ·I . ~' . .
'! •;' : '. i '·1
I· •j ·•. .. "
...
I, l' :, ·: ' , 1 ; 1 1, ' d!1 EllT _2&~ l9_5'..::- .~ ._:- ,··- ;: I' r ':· \' f,1) f'v ....; ,t,lJ · · · /--- . : ·.: l i . .r.·. STATE OF SOUTH CAROLINA ·• J; \ : (:\(;'.~ Mlli~lJ'ME~T TO MASTER DEED & BY- LAWS J OF PERREYCLEAR POINTE HORIZONTAL COUNTY OF CHARLESTON } PROPERTY REGIME
THIS AMENDMENT TO MASTER DEED & BY-LAWS OF PERREYCLEAR
POINTE HORIZONTAL PROPERTY REGIME is made · by the Board of
Directors on behalf of the Council of Co-Owners (herein referred
to as the "Council"} this 4th day of March 1992.
WITNESSETH
WHEREAS, the Council is the governing body of Perreyclear Pointe Horizontal Property Regime as provided in the Master Deed~ therefor, dated January 16, 1984, and recorded in the R.M.C. Office for Charleston County, South Carolina on January 20, 1984, in Book 0-134, Page 752 (subsequently referred to as the "Master Deed"}, and;
WHEREAS, the Board of Directors has the authority to ( act on behalf of the Council o'f Co-Owners of Perreyclear Pointe Horizontal Property Regime as provided in the Master Deed, and;
WHEREAS, according to the Master Deed Article XI, Section 11. 02, the two-thirds of Co- Owners have voted to amend the Master Deed . and-By-Laws, and;
WHEREAS, pursuant to Section 11.02 of the Master Deed the Board of Directors is desirous of amending said Master Deed and By-Laws;
NOW THEREFORE, pursuant to Section 11.02 of the Master Deed, the undersigned Board of Directors hereby amend the By-Laws to delete the paragraph in Section 5.10 of the By-Laws entitled "Penalty" and insert the following paragraph in lieu thereof.
An assessment not paid within thirty days following the date when due shall be charged a Delinquent Payment Penalty of ten percent ( 1 0%} of the unpaid balance of the assessment per month and each month thereafter on the unpaid balance until the assessment is paid in full. The Delinquent Payment Penalty shall be added to and collected in the· same manner as the assessment. The Board of Directors may in its discretion waive all or any portion of the Delinquent Payment Penalty pursuant to this Section if it affirmatively appears that the failure to pay the assessment when due was caused by circumstances beyond the control ( of the Co-Owner.
Page 1 of 3 IN WITNESS WHEREOF, the undersigned have set theiF hands and seals this 4th day of March , 1992.
Perreyclear Pointe Council of Co-Owners Perreyclear Pointe Board of Directors
BY:
BY:
BY:
BY:
BY:
/ /
Page 2 of 3 STATE OF SOUTH CAROLINA } } PROBATE COUNTY OF CHARLESTON )
PERSONALLY APPEARED before me the undersigned, who being duly sworn, deposes and says that he/she saw the within named Om P. Hasija JohnS.o' Hare Don Wilson L Anne.ITurner Jeanet Meaburn , sign and seal the Amendment of Perreyclear Pointe's Horizontal Property Regime for the uses and purposes therein mentioned and that he/she with the other witnesses subscribed above witnessed the execution thereof.
' ',,,~· ,/
(L.S.) r South Carolina
My Commission Expires: /-2-7-f'
Page 3 of 3 1fr t;' Ll pf\'( MEH1 _BQ_,, 19~/2:::: ,- ri!t cl.ER\\ {3'f'-/ 1\\{IG OH\Gt STATE OF SOUTH CAROLINA }}(~\-\f\.~US10N. coutfiME§BMENT TO MASTER DEED OF PERREYCLEAR POINTE COUNTY OF CHARLESTON } HORIZONTAL PROPERTY REGIME
THIS AMENDMENT TO MASTER DEED OF PERREYCLEAR POINTE HORIZONTAL PROPERTY REGIME is made by the Board of Directors on behalf of the Council of Co-Owners (herein referred to as the
"Council") this 4th day of -----March , 1992. WITNESS ETH WHEREAS, the Council is the governing body of Perreyclear Pointe Horizontal Property Regime as provided in the Master Deed, therefor, dated January 16, 1984, and recorded in the R.M.C. Office for Charleston County, South Carolina on January 20, 1984, in Book 0-134, Page 752 (subsequently referred to as the "Master Deed"), and; WHEREAS, the Board of Directors has the authority to act on behalf of the Council of Co-Owners of Perreyclear Pointe Horizontal Property Regime as provided in the Master Deed, and; WHEREAS, according to the Master Deed Article XI, Section 11.01, the two-thirds of Co-Owners have agreed in writing to amend the Master Deed, and; WHEREAS, pursuant to Section 11. 01 of the Master Deed the Board of Directors is desirous of amending said Master Deed as herein set forth; NOW THEREFORE, pursuant to Section 11.01 of the Master Deed, the undersigned Board of Directors hereby amend the Master Deed to insert the following paragraph to the Section 4.02 entitled "Apartments", and the Section 4. 04 entitled "Limited Common Elements" respectively;
Section 4~02, Part B: This section defining the Apartment shall be extended to include the following: In the event an Apartment owner constructs a Florida Room in the rear patio of his unit, the surface area of the rear patio encompassed by the Florida Room within the walls and roof, not exceeding 12' in length and 8'-8" in width, with its sliding glass doors, fixed windows in the walls, fixed ceiling glasses, interior ceiling, interior wall surfaces, lighting fixtures, screens, floor surfacing and exterior brick wall enclosed by the room.
Section 4. 04, Part B: (a) The surface area enclosed by the Florida Room as described in Section 4.02, Part B will be deemed to have become an integral part of an Apartment and cease to be called Limited Common Element. However, the external elements as de~cribed in Section 4.04, (a) and (b) will then be called Limited Common Elements.
Page 1 of 4 (b) The Florida Room constructed and added to an Apartment as described above could then be designated for the purpose of any conveyance, lease, or other instruments affecting the title th~reof. As .long as the Florida Room is in existence the land covered by it will have the same status as being in the ownership of the Apartment owner, but will revert back to the status of Limited Common Element in the event the Florida Room is removed or no longer exists.
Page 2 of 4 IN WITNESS WHEREOF, the undersigned have set their hands and seals this 4th day of March , · 1992. Perreyclear Pointe Council of Co-Owners Perreyclear Pointe Board of Directors
Page 3 of 4 STATE OF SOUTH CAROLINA } } PROBATE COUNTY OF CHARLESTON }
PERSONALLY APPEARED before me the undersigned, who being duly sworn, deposes and says that· he/she saw the within
I\ named Om P. Hasija JohnS o 'Hare Don Wilson L AnneJTurner , Janet Meaburn , sign and seal the Amendment of Perreyclear Pointe's Horizontal Property Regime for the uses and purposes therein mentioned and that he/she with the other witnesses subscribed above witnessed the execution thereof.
Swor9 /./" 199 2.
/ My Commissi9h Expires: /-z,?-7(,.
Page 4 of 4 EXHIBIT "E". TO MASTER DEED OF PERB.EYCLEAR POINTE KPRIZONTAL PROPERTY REGIME · BYLAWS
THESE BYLAWS of Perreyclear Pointe Hori~ontal Property Regime (herein referred to as the "Regime") are promulgated pursuant to the Horizontal Property Act of South Carolina (herein referred to as the "Act") for the purpose of governing the Council of Co-owners '(herein referred to as the 11 Council") and the administration of the Regime. All.. terms not defined in these Bylaws have the meaning set out in the Act or the Master Deed. ARTICLE I COUNcn OF CO-OWNERS
Section 1.01 Membership. Each Co..;owner shall be a member of the Council. A person who holds title to an Apartment merely as security for payment of a debt shall not be a member entitled to e~ercise the rights of a Co-owner unless such person holds a proxy conferring such rights.
Section 1.02 Quorum. The presence in person or by pro:icy of Co-owners owning fifty percent (50%) of the value of the Property shall constitute a quorum for the tran,saction of business at meetings of the Council; provided however, that if a quorum is not present at a duly called meeting, a.second -•ting shall be called and the quorum for the transaction of business · at such meetin~ shall be one-half of that previously required.
Section 1.03 Voting. On all matters relating to the Regime upon which a vote of the Co-owners is conducted, each Co-owner shall be entitled to caat the number of votes set out in Exhibit "D" attached hereto and incorporated herein by reference. The affirmative vote of the Co-owners owning a 111Sjority of the value of the Property represented at a duly called meeting shall be required to adopt decisions unle~s the Master Deed or these Bylaws require a different percentage for a particular act or decision. Votes can be cast only at meetings of the Council convened in accordance with the Bylaws. and in the absence of a valid pro:icy, an individual shall act in his own behalf, a corporation shall act by any officer thereof, a partner11hip shall act by any general partner thereof. an association shall act by any aa·sociate thereof• a trust shall act by any trustee thereof, and any other legal ent.ity shall . act by any 111Snaging agent thereof. When a Cu-uwner cons is ta of two or 111ore persons, any one of such persons shall be deemed authorized to act for all in taking any action on behalf of such Co-owner unless unothcr of such persons objects, in which case the vote which such Co-owner would otherwise be entitled to cast lllSY not be cast. All votes appurtenant to a single Apartment must be cast together and may not be split.
Section 1.04 rroxies. Any Co-owner may by written proxy designate an agent to cast his vote. Unless a proxy otherwise states, it shall be deemed to confer the authority to execute consents and waivers and to exercise the right to examine the book.a and records of the Council. A proxy may be revocable or irrevocable but shall be deemed revocable at will unless otherwise specified therein. No proxy shall be honored until delivered to the Secretary of the Council. ·
Section 1.05 Consents. Any action which may be ~ale.en by a vote of the Co-owners may also be talc.en by written consent to such action signed by all CO-o¥n~r::.
Section 1.06 Initial Meeting. The initial meeting of the Council ahall be held upon call by the Manager (Article IV) as soon as the Manager ·deem8 practicable and convenient after Apartments representing fifty-one (51%) percent or more in common interest shall have been conveyed by the Grantor. The following matters, and such other business as the Manager may deem appropriate, shall be talc.en up at the initial meeting: ··
a) adoption of a fiscal year,· if other than as set forth in Section 5.01 hereof;
b) discusaion of the budget for the fiscal, year;
c) determination of the date upon which the· General Assessments are due and payable;
Page 1 of Bylawa d) determination of the date· of the .first and subsequent a~ual meetings;
( e) the election of. the initial · three-·person Board of Direc·t:ora in accorda~ce with Article II of these Bylaws; and f) determination of whether or not the Council shall be incorporated.
Section 1.07 Annual Meetings. The annual meeting of the Council shall be held on a date determined by the Council. Any business which is appropriate for act1.on of the Co-owners may be transacted at an annual aeeting.
Section 1.08 Special Meetings. Special meetings of the Council may be called at any time by the President of the Council or by a majority of the Board of Directors and shall be called upon the written request of Co-owners owning a majority of the value of the ProP.erty. Only such business as is atated in the notice of meeting shall be transacted at a special meeting un1ess all Co-owners waive notice of any additional business.
Section 1.09 Notice of Meetings. Written notice of every annual or special meeting of the Co.uncil stating the t1me. date, and place of the meeting and, in the case of a special meeting. the business proposed to be transacted, shall be given to evecy Co-owner .not fewer than five (5) nor more than forty-five (45) days in advance of the meeting; provided, however. that notice may also be given as described in Section 1.04 of this Article. Failure to give proper notice of a meeting of the Co-owners shall not invalidate any action taken in such meeting unless (a) a Co-owner who was present but was not given proper notice objects at such meeting, in which case the matter to which such Co-owner objects shall not be taken up. or (b) a Co-owner who is not present and was not given proper notice objects in writing to the lack of proper notice within thirty days following such meeting, in which case the action to which such Co-owner objects shall be void.
Section · 1.10 Waiver of Notice. Waiver of notice of a meeting of the Council shall be deemed the equivalent of proper notice. Any Co-owner may in writing waive notice of · any meeting either before or after such meeting. Attendance at a meeting by a Co-owner. whether in person or by proxy. shall be deemed waiver by .such Co-o~er of notice of the time. date. and place o~ the 11eeting unless · such Co-owner specifically objects to lack of proper notice 11t thu tillMI thu 11uetin1' 111 culled to order. Attendance at a special meeting shall also be deemed waiver of notice of all business transacted unless objection to lack of notice is raised before the business of which proper notice was not given is put to a vote.
Section 1.11 . l'lace of Me.eting. All meetings of the Council shall be held at such convenient place in Charleston County as the Board of Directors may direct.
Section 1.12 Adjournment. Any meeting of the Council may be adjourned from time to time for periods not exceeding forty-eight hours by vote of Co-owners holding a majority of 'the .vote represented at such meeting, regardless of whether a quorum is present. Any business which could properly be transacted at the original sessio.n of a meeting may be transacted at an adjourned session. and no additional notice of adjourned sessions ahall be require~.
Section 1.13 Order of Business. The order of business at all meetings of th• Co-owners shall be as follows:
a) · · Roll call;
b) Proof of proper notice of the meeting or waiver of notice;
c) Reading of minutes of preceding meeting;
d) Report of the Board of Directors;
•) Report• of officers;
f) llepo/ts of. collllllitteea;
i) Report of Manager;
Page 2 of Bylaws h) Election of Directora; i) Unfinished business; and j) New businesa. Section 1.14 Minutes of Meeting. Tbe Secretary of the Council shall prepare and keep, or cause to be prepared and kept, accurate minutes of every meeting of .. the Council. Such minutes shall 1;1~ made available for examination and copying by any Co-owner at any reasonable time. ARTICLE II BOARD OF DIRECTORS OF THE COUNCIL
Section 2.01 Form of Administration~ The Council shall act by and through its Board of Directors. Section 2.02 Authorities and Duties. On behalf of and as directed by the Council, and as required by the Act, the Master Deed, and these Bylaws, the Board of Directors shall provide for the fol,lowing: a) the contracting with a management agent to provide for the surveillance of the Property. the maintenance, repair, and replacement of the Common Elements, and the designation and dismissal of the personnel necessary to accomplish ~he same; b) the collection of ass~ssments from the Co-owners; c) the procuring and keeping in force of insurance on the Property; d) the enactment of reasonable regulations governing the operation and use of the Common Elements; a) the enforcement of the terms of the Master Deed, these Bylaws, and any llegulations promulgated pursuant to the Bylaws; and f) . the administration of the Council and the Regime on behalf of and for the ben~fit of all Co-owners.
Section 2.03 :qualificat:l.on. Only an individual who is a Co-owner, or who together with another person or other persons is a Co-owner, or who is an officer of a corporation, a general partner of a partnership, an associate of an useociation, a trustee of a trust, or a managing agent of any other legal entity which is a Co-owner, or which together with another person or other persons is a Co-owner, may be elected and serve or continue to serve as a Director of the Council. The number of Directors provided at any one time by a Co-owner which is an organization or which consists of more than one individual shall not exceed the number of apartments owned by such Co-owner.
Section 2.04 Election and Term. The initial Board of Directors shall consist of three people who shall be elected at the initial meeting of the Council and shall serve until the first annual meeting of the Council. At the first annual meeting the Co-owners shall elect five Directors, three for a term of two years (to be elected in one election) and two for a term of one year (to be elected in a second election). At each subsequent annual meeting, Directors 11hall" be elected for two-year terms to succeed the Directors whose terms expire at the meeting. A plurality of the votes cast ahall be sufficient to elect a Director in any election. A Director may be elect~d to succeed himself• and a Director shall be deemed to· continue in office until his successor has been elected and has assumed office.
Section 2.05 Removal, A Director may be removed from office with ~r without cause by the vote of the Co-owners.
Section 2.06 Vacancies. Any vacancy on the Board of Directors shall be filled by appointment by the majority of the remaining Directors, and the new Director shall serve for the unexpired term of his predecessor.
Section 2.07 Voting. Each Director shall have one vote on all matters acted upon by the Board of Directors. The affirmative vote of three Directors shall be sufficient for any action unless otherwise specified in the Master Deed or these Bylaws.
Page 3 of Bylaws Section 2.08 Quorum. Three Directors shall constitute a quorum for the transaction of business.
Section 2.09 Consents. Any action which may be taken by a vote of the Board of Directors may also be taken by written consent to such action aigned by all Directors.
Section 2.10 Referendum. Any decision voted by the Council shall be binding upon the Board of Directors and shall supersede any previous inconsistent action or make invalid·any subsequent inconsistent action taken by the Board of Directors, but no such action by the Co-owners shall impair the enforceability of any contract duly authorized or entered into by the Board of Directors pursuant to authoi:ity granted in the Act. the Master Deed, or these Bylaws.
Section 2.11 Annual Meetings. An annual meeting of the Board of Directors shall be held each fiscal year within thirty days preceding the annual meeting of the Council. . Any business which is appropriate for action of the Board of Directors may be transacted at an annual meeting.
Section 2.12 Regular Meetings. Regular meetings of the Board of Directors shall be held at such times, dates, and places as the Board of Directors may determine from time to time. Any business which is appropriate for action of the Board of Directors may be transacted at a regular meeting. Section 2.13 Special Heeting11. Special 1Deetings. of the Board of Directors may be called from time to time by the President of the Council and shall be called upon the written request of two of the Directors. Only auch buciness ss is 11tated in the notice of the meeting shall be transacted at a special meeting unless all Directors waive not:l'""" of any additional business. Section 2.14 Notice of Meetings. Written notice of every regular or special meeting of the Board of Directors stating the time, date, and place of the meeting and, in the case of.a special meeting, the business proposed to be transacted shall be given to every Director not fewer than three nor aore than ten days in advance of the meeting. Failure to give proper notice of a meeting of the Board of Directors shall not invalidate any action taken at 11uch 111uuting unl1u111 (u) a'· Director who was present but was not given proper noticu objuct11 ut 11uch meeting, in which cs11e the matter to which such Diriictor objects 11hall not be taken up, or (b) a Director who is not present and was not given proper notice objects in writing to the lack of proper notice within thirty days following such meeting, in which case the action to which such Director objects shall be void.
Section 2.15 Waiver of Notice. Waiver of notice of a meeting of the Board o( Diructor11 11hall be deemed the equivalent of proper notice. Any Di rvclor u1uy Jn writ Ing waive noticu of any meeting of the Board of IJ1ruclur11 u!Lhur buloru ur u!tur 11uch uu:et.1ng. Attendance at a meeting by a Director 11hal! be deemed waiver by such Director of notice of the time, date, and place of the meeting unless such Director specifically objects to lack of proper notice at the time · the meeting is called to order. Attendance at a special meeting shall also be deemed waiver of notice of all business transacted-unless objection to lack of notice is raised before the business of which proper notice was not given is put to a vote.
_Section 2.16 Place of Meeting. All meetings of the Board of Directors shall be held at such convenient place as the Board .may select. Meetings may be conducted by telephone if all Directors consent.
Section 2.17 Minutes of Meetings. The.Secretary of the Council shall prepare and keep, or cause to be prepared and kept, accurate minutes of every. meeting of the Board of Directors. All such minutes shall be" made available for examination and copying by any Co-owner at any reasonable tillle after thirty days following each meeting.
Section 2.18 Compensation. The Directoi:s may receive such compensation and reimbursement for expenses incurred in the conduct of their dutiea as the Council may determine.
Page 4 of Bylaws ARTICLE Ill OFFICERS OF THE COUNCIL
Section 3.01 Dcaignation. The Council shall have a President, a Vice President, and a Secretary-Treasurer, The officers shall have the authority, powers, duties, and responsibilities provided by these Bylaws. or, to the extent not so provided, by the Board of Directors.
Section 3.02 Qualifications. Only Directors may.be elected and serve •• officers. Sc.;tion 3.03 Election and Term. Officers of the Council shall be elected at each annual meeting of the Board of Directors and at such other times as may be required to fill vacancies in any office. All officers shall serve until. their successors have· l>een elected and assumed office unl.ess sooner removed as hersinafter provided. An officer may be re-elected to any number of terms. Section 3.04 Removal. Any officer may be removed from office at any time with or without cause by the Board of Directors. Section 3. 05 President. The President shall be the chief executive officer of the Council. He shall preside at all meetings of the Council and of the Board of Directors. ' He shall have all of the general powers and duties which are usually vested in a corporate president, including but not limited to the power to appoint co111D1ittees from among the Co-owners from time to time as he may in his discretion deem appropriate to assist in the conduct of the affairs of the Council.
Section 3.06 Vice President. The Vice President shall take the place and pertorm the duties of the President whenever the President shall be abMent or unable to ace.· The Vice President shall also perform such other duties as shall from time to time be imposed upon him by the. Board of Directors. Section 3.07 Secretary-Treasurer. The Secretary-Treasurer shall prepare and keep, or cause to be prepared and kept, the minutes of all meetings of the Co-owners and of the Board of Directors• and ·shall have charge of such books and papers as the Board of Directors may direct. The Secretary-Treasurer ·shall have custody of and responsibility for Council funds and securities and shall keep the financial records and books of account belonging to the Council. Custody of Council funds and securities and responsibility for maintaining full and accurate accounts of all receipts and disbursements may be delegated to the Manager if the Board of Directors so determines, but in such case the Secretary-Treasurer shall verify the amount of Council funds and securities in the custody of the Muna1er and review and reconcile the accounts maintained by the Manager at 1uch intervulu as may be determined by the Board of Directors.
Section 3.08 Compensation. The officers may receive such compensation and reimbursement for expenses incurred in the conduct of their duties as the Council may determine.
ARTICLE IV MANAGER
Section 4,01 Administration by Gr~ntor and Employment of Manager, a) Notwithstanding anything contained ~ein to the contrary, the Grantor, or its designee • shall act as the l •ger of the Regime and shall be responsible for the administration of he Property and the General and Limited Common Elements, and the ReginHc will not begin to function through its other members, until the ~rancor shall have conveyed three-fourths (3/4) of the Apartments to the respective purchasers of same or January 1, i986, whichever shall occur sooner, or such earlier date as may be selected by the Grantor in the exerciae of its sole discretion at which time such fact shall be certified to the Regime by the Grantor and management of the Common Elements delivered to the Regime together with all books and accounts which shall be in balance. Until such time, the duties and powers of the Regime, including those of the Board of Directors as specified in this Master Deed and in the By-laws, shall be performed by the Grantor and/or Manager or agent to be employed by the Grantor on behalf of the Regime, at a rate of compensation which under the circumstances shall be reasonable in amount.
Page S of Bylaws Such co111pen•ation, if •ny, •hall be paid as a l'ecurring expenae of the 11.egim• and out of the auessmentl herein provided for and not in lieu ( thereof or in addition thereto. b) Aftar such period of time referl'ed in Pal'agraph 4.01 (a) above, the Council may employ a management agent entirely of its own choosing.
Section 4.02 Qualification. The Manager may be a natural person or a corporatlon or other legal entity, No indiv-idual who . is a Director or an officer of the Council or who resides in the home oi a Director or an officar of the Council shall be the Manager.
Section 4.03 Authority and Duties. The Manager shall provide the •erVices and perform the duties set out in Article II, Section 2.02 (a) of the•e Bylaws, and shall provide such other services and perform such other duties (including, but not lilllited to• those enumerated in Article II, Saction 2.02 subsections a, b, c, e and f) as authorized and directed from ti.. to time by the lioard of Directors. The Manager shall confer fully and freely with the Board of Directors and shall attend meetings of the Board and of the Council when requested to do so by the Board. Until such time as th• first Board of Directors is elected at the initial meeting of the Regime, the Manager shal_l provide the services and perform the duties set out in Article II, Section 2.02 subsections a, b, c, e _and f.
ARTICLE V FINANCES Saction 5.01 Fiscal Year. · The fiscal year of the Regime shall be January 1 through December 31 unleas otherwise determined by the Council.
Section 5.02 Budget. The Board of Directors shall prepare and submit, or cause to be prepared and submitted, to the Co-owners at their annual meeting a budget for the Regime for the fiscal year. The budget shall set forth with particularity the anticipated Common Expenses for the fiscal year and the amount of money needed to establish reasonable reserves for the ( payment of Common Expenses and contingencies.
The Board shall cause a copy of the budget• and the amount of the annual General Assessments to be levied· against each Co-Owner for the following year, to be delivered to each Co-Owner at least fifteen (15) days prior to the annual -meeting. The General Assessments for the fiscal year shall become effective when the budget· is presented at such me_eting, or in the event the budget exceeds the maximum increase allowed by Section ·5.0S(a) hereof, the General Assessments for the fiscal year shall become effective when the budget is approved by the Co-owners as stated in Section 5.05(b) hereof,
Section 5.03 Creation of the Lien and Personal Obligation of Assessments. Each Co-Owner of any Apartment, by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agrees to pay to the Regime: (1) annual General Assessments as provided for in Section 5.05 hereof and. (2) Special Assessments as provided for in Section 5.06 hereof, such assessments to be established and collected aa hereinafter provided. The annual and special assessments, together with Dalinqu~nt Payment Fees thereon and costs of collection, including reasonable attorney's fees, shall be a charge on the Apartment and shall be a continuing lien upon _ t~e Apartment against which each such assessment is •ade. Each such assessment, together with Delinquent Payment Fees and costs of collection, including reasonable attorney's fees, shall also be the personal obligation of the person who was the Owner of such Apartment at the time when the aesess~ent fell due. The personal obligation for delinquent aaaeesments shall not pass to his successor(s) in title unless expressly •••Wiled by such succe~sor(s).
. Section 5.04 Purpose of Assessments. The assessments levied · by the Regime shall be used exclusively to promote the recreation, health, safety, and welfare of the Co-Owners; for the improvement and maintenance of the ( Common Elements; and to perform such services for Co-Owners as authorized in thia Master Deed.
Section 5. 05 General Assessments. The funds required by the Budget shall be collected from the Co-owners in assessments (General Assessments) in proportion to their respective interests in the Common Elements as set
Page 6 of Bylaws out in Exhibit ''D" attached hereto and incorporated by reference, and the General Assessments shall be payable as and when deteI'lllined by the Council, ( but in no event shall General Assessments be. collected in installments more frequent than monthly. Until December 31, 1984, the budget for the Regime shall be as attached hereto as Exhibit "F" and the General Aases11ments levied shall be based upon the said budget. (a) From and after January 1, 1985, the budget (and thus the annual General Assessments) may be increased without a vote of the membership each year (i) not more than 5% above the budget for the previous year, or (ii) by 11uch sum as is proportionately equal with the increase in the Consumer Price Index for All Urban Consumers, U.S. City Average (1967• 100). published by the Department of Labor, Bur~au of Labor Statistics, wh~~~ever is greater.
(b) From and after January 1, 1985, the budget may be increased by an amount greater than permitted in Section 5.05(a) above by a vote of Co-owners . owning at least two-thirds (2/3) of the value of the Property represented and voting in person or by proxy at a meeting duly called for this purpose.
(c) The Board of Directors shall fix the annual General Assessments at an amount computed on the basia of a budget which does not exceed the 1118.]!:imum increase in the budget as stated above.
Section 5. 06 Special Assessments. The funds required from time to time for purpo11es of defraying, in whole or in part, the cost of any construction, recont1truction, repair or replacement of a capital improvemen,t of the Common Elements, including fixtures and personal property related thereto, or to pay any Common Expenses which are not covered by the Budget, shall be collected from all the Co-owners by the Board of Directors in such installments (herein referred to as "Special Assessments") as the Co-owners shall determine, provided that any such assessment shall have the assent of Co-owners owning at least . two-thirds (2/J) of the value of the Property in ( attandanc" and voting in person or by proxy at a meeting duly called for this purpose. •.
Section 5.07 Notice and Quorum for Any Action Authorized Under Sections 5.05 and :5.06. Written notice of any meeting called for the purpose of taking any action authorized under Section 5.05 (b) or 5.06 shall be 11ent to all Members not less than 30 days nor more than sixty 60 days in advance of the meeting. At the first such meeting called, the presence of Members or of proxies entitled to cast sixty percent (60%) of all the votes of the regime shall constitute a quorum. If the required quorum is not present, another meeting may be called subject to the same notice requirement• and the required quorum at the subsequent meeting shall be one-half (1/2) of the required quorum at the preceding meeting. Subsequent meeting(s) shall be held within sixty 60 days following the preceding meeting.
Section 5.08 Individual Assessments. Any payments to the Council which one or more, but fewer than all, o·f the Co-owners shall be obliisnted to make pursuant to the terms of the Act, the Master Deed, or these Bylaws shall be due upon demand and shall be collected by the Board of Directors as individual assessments (Individual Assessments) •
. Section 5.09 Collection. Co-owaers shall be personally liable for and promptly pay all assessments when due. If the assessments are not paid on the date when due (being the date specified by the Board)> then such assessments shall become delinquent and shall (together with the cost of collection as hereinafter provided) become a charge and continuous lien on the property against which such assessment is made. The Board of Directors 11hall . take prompt and appropriate action to collect by suit, foreclosur·e, or other lawful method any overdue assessment. If any overdue assessment is collected by an attorney or by action at law, the Co-owner owing the same shall be required to pay all reasonable costs of collection, including attorney's fees.
Section 5.10 P1m11.l ty. An assessment not pa:f
Page 7 of Bylaws ia paid in full. The Delinquent Payment Penalty shall be added to and collected in the same manner as the assessment. The Board of Directors may in its discretion waive all or ·any portion of ·the Delinquent Paymenc ·Penalty pursuant to thia Section if it affirmatively appears.that the failure to pay the assessment when due was caused by circ\Ull8tances beyond the control of the Co-owner.
Section 5.11 Accounts, The Board of Directors shall maintain on behalf of the Council a checking account with a .~tate- or federally chartered bank having an off ice in the county where the Property is situated. The Board of Direc;ors may also maintain on behalf of the Council an interest-bearing savings account with a state- or federally-chartered bank, savings and loan association, or building and loan association. Funds of the Council may also be invested in any instrument, obligation or aecuri~y (or fund comprised solely of said' instruments or securities) which is insured by the United States Government, or guaranteed by the full faith and credit of the United States Government, a state government, or any local _governmental entity. If a Manager is employed, said accounts may be maintained in the name of the Manager as agent of the Council. All funds of the Council shall be prompt1y deposited in one of said accounts, except that the Board of Directors may maintain a petty cash fund of not more than two hundred tifty dollar11 for payment of minor current expenses of the Council. The books and records relating to any account of the Council shall ·be made available for examination and copying by any Co-owner at any reasonable t1lle. Section 5.12 Payments. The Board of Directors shall provide for· payment of all debts of the Council fro!ll the funds <:ollected from the Co-owners. Expenditures specifically approved ·in the budget may be paid without further approval unless the Board of Directors shall otherwise datot111inc. All other expenditures which are in excess of two hundred fifty dollari> 11hall be reviewed and approved by the President or the Board of Directors before payment is made. All checks and requests for withdrawals drawn upon any account of the Council shall be signed by the President and the Treasurer or by any two officers of the Council designated by the Board of Directors. The Board of Directors may authorize the Manager to draw checks upon the account of the Council. The Board of Directors may also authorize the Manager to make disbursements from the petty cash f.und • if any.
Sactiun 5.13 Bonding. The. Board of Directors ahall aecure a fidelity bond in an amount of not less than ten thousand dollars covering every individual authorized to withdraw funds from any checking or savings account maintained by the Council. The cost of the bond shall be a Common Expense.
Section 5.14 Ai>sessments for Initial Fiscal Year (FY1984); working capital assessm~nt. The provisions of this Section 5.14 shall exclusively govern and be applicable to the initial fiscal year (FY1984) of the Regime which shall consist of the period from and including the date of recording of this Master Deed in the R,M.C, Office for Charleston County, S.C. • through Dece!llber 31, 1984.
General Assessillents (including assessments for insurance premiums on the Regime insurance policy) due and payable for and during FY1984 shall be baaed upon the budget attached hereto as Exhibit "F" and incorporated herein by reference.
Assessments shall commence as to all Apartments. including those owned by Grantor, on the first day of the month following recording of this Master Deed.
Each Co-owner who purchases an Apartment from the Grantor shall pay a one-time working capital assessment to the Regime at the closing of title to hia Apartment in an amount equivalent to two/twelths of the annual General Assessment. The working capital assessment shall be in addition to all other assessments or charges provided for herein. Also• persons acquiring title to Apartlllents from the Grantor shall pay at closing a sum equivalent to the first year Regillle insurance premium multiplied by the assigned percentage interest in the Common Elements appurtenant to his Apartment. which sum shall be reimbursed to the Grantor which has prepaid the first year's premium in full. This shall be in addition to all other assessments and charges provided for herein.
Page 8 of Bylaws ARTICLE VI MAINTENANCE AND IMPROVEMENTS ( Section 6.01 Maintenance by Regime. The· Board of Directors or ita Manager shall provide for the maintenance, repair, and replacement of the Common Elements.
Sec.tion 6.02 Maintenance by Co-owners. The Apart111ents shall be maintained in good condition and repair l>y their resp.ective owners. Each Co-owner agrees: ·
a) To maintain in good condition and repair his Apartccnt and all interior surfaces within. or surrounding his Apartment (such as the surfaces of the walls, ceilings and floors) and the entire interior of his Apartment, and to maintain and repair the fixtures and equipment located within or exclusively aerving his Apartment as set forth in Section 4. 02 of the Master Deed , including, but not limited to, any air-conditioning condenser unit which is outside the Apartment, refrigerators, stoves, fans, water heaters, dishwashers and other appliances, drains, plumbing fixtures and connections, sinks, all plumbing and water lines within or surrounding the Apartment, electric panels and wiring, electric outlets and fixtures within or surrounding the Apartment, and any repairs to the doors, windows, screening, and glass within the. apartment or locat.ed o~ the patio or dec.k adjace nt thereto. Each Co-owner shall pay for such utilities as are separately metered to his Apartment. Where an Apart111ent is carpeted, the cost of replacing carpeting shall be borne by the owner of said Apart111ent, unless the cost of such is covered by insurance following a casualty loss.
b) Not to make or cause to be made any structural addition or alteration to his Apartment or to the ·General or Li111ited Common Elements, without prior consent of the Regime, and all 111ortgagees holding a mortgage on his Apart111ent, as herein provided.
c) To make no alteration, decoration, repair, replacement or change to the General or Limited Common Elements or to any outside or exterior portion of ( a building including the exterior side of any door; and to use only those contractors or sub-contractors within his Apartment as are apprQved by the Board of· Directors of the Regime. However, institutional mortgagees may use such contractors or sub-contractors as they desire. Each Co-owner will also be bound and restricted by any rules adopted by the Regime at any time governing any furnishings, additions or renovations which can be seen from outside a building, including regulations affecting the exterior side of curtains, storai windows, sto1"111. doors, etc.
d) To permit the Board of Directors, or the agents or employees of the Regime, to enter into any Apart111eni: (i) for the purpose of maintenance, inspection, repuir, or replacement of improvements included within General or LbiituJ Cu111111u11 >:lu111u11ts; or (ii) to d11termine, in case of emergency, any circumstances which may be threatening Apartments or the General Common Elements; or (iii) to determine compliance with the provisions of this Ha11tur IJ11ud und thu lly-law11 of th11 Ru~ime.
e) To show no si~ns, advertisements, or •notices of any type on the General or Limited Common Elements or exterior of his Apartment, and erect no, exterior sntcnnu or oerialu, except that the Gran tor and the Gran tor 1 s lender(s) may display signs during the renovation and sale period for the aale or lease of Apartments presently owned by Grantor or obtained by it through foreclosure or de.eds in lieu of foreclosure.
Sect..lun b,03 Ucfuult by Co-owner , ln _the event that any Co-owner fails to perform the maintenance required of hi111 by these Bylaws or by any lawful Regulation, and such failure creates or permits a condition which is hazardous to life, health, or property, which unreasonably interferes with the rights of another Co-owner, or which substantially detracts from· the value · or appearance of the Property, the Board of Directors shall, after giving such Co-owner reasonab_le notice and opportunity to perform such maintenance, cause such maintenance to be performed and charge all ( reasonable expenses of doing so to such Co-owner by an Individual Assessment.
In the event the owner of an Apart111ent fails to maintain said Apartment or his share of the maintenance obligation of General Co111111on Elements and Limited Common Elements, as required in this ~ster Deed or by any action of
Page 9 of Bylaws the Regime permitted herein, or shall make any structural addition or alteration without the required written consent• or otherwise violates or threatens to violate the provisions hereof• ·the Regime shall have the right 11 to proceed in a Court of Equity for an injunction to seek compliance with the provisions hereof. In lieu of the above, and in addition thereto, the Regime, through its Board of. Directors, shall have the right to levy an Individual Assessment against any Co-owner for all necessary sums to r~ove any unauthorized structural addition or al.teration, and to restore the Property to its original condition.
Section 6.04 Expenses. The expenses of all maintenance, repair, and replacement of the Co111111on Elements provided by the Board of Directors or its Manager shall be Co111111on Expenses, except that when such expenses are necessitated by (a) the failure of a Co-owner to perform the maintenance required by these Bylaws or· by any lawful Regulation, (b) the willful act, neglect, or abuse of a Co-owner, or (c) an uninsured loss which is to be borne by a Co-owner in accordance with Article VII of these Bylaws, they shall be charged to such Co-owner by an Individual Assessment.
ARTICLE VII llECONSTRUCTlON
Section 7.01 Reconstruction. Unless the Co-owners affirmatively determine in the manner provided in the Master Deed not to reconstruct the Property following damage or destruction thereof, the Board of Directors shall promptly provide for such ,reconstruction. If the cost of such reconstruction exceeds ten thousand dollars, the· Board of Directors shall employ an architect licensed to practice in the jurisdiction in which the Property is situated to supervise the reconstruction. It shall be the duty of such architect to inspect the progress of the reconstruction at regular intervals and to submit written authorizations to the Council for payment for work performed. When an architect is not required by the terms hereof, the Board of Directors may perform such inspections and submit such authorizations.
Section 7.02- Costs. The Board of Directors shall eD1ploy for the purpose of recons~ructing the Property the proceeds of any insurance obtained on the Property by the Board of Directors on behalf of the Council. When the Property is not insured or when the insurance proceeds are insufficient to cover the cost of reconstruction, the rebuilding costs shall be borne by all the Co-owners as a Co111111on Expense.
AKTlCLE VIII CONDEMNATION
Suction 8.01 IUghtt1 of Co-Owner11. If any portion of the Property is condemned by any authority having the power of eminent domain, each Co-owner shall be entitled to receive notice of such condemnation and to participate in the proceedings unless otherwise prohibited by law. Each Co-owner shall be entitled to an individual award to be determined by the value of his interest in the portion or portions of the Property condem.ned.
Section 8.02 Duties of Council. In the event that any award is received by the Council on account of condemnation of any portion or portions of the Common. ElBDlents, the Board of Directors shall hold such award for disbursement in the same manner as if it were insurance proceeds. The Board of Directors shall promptly call a special meeting of the Council to determine whether any condemned portion of the ComD1on Elements shall be replaced. If the Council determines to replace any condemned portion of the Co1D1Don Elements, the Board of Directors shall provide for the replacement of such portions in the same manner as if such portions had been destroyed by casualty. ·
ARTICLE IX INSURANCE
Section 9.01 Insureds. Insurance policies upon the Property. covering the items described below, shall be purchased by the Council or its Manager for the benefit of the Regime, the Council, and the Co-owners of the Apartments and their mortgagees, as their interests may appear. Provision shall be made for the issuance of certificates of insurance, with mortgagee
Page 10 of Bylaws endorsements, to the mortgagees of all Co-owners. Such policies and endorsements shall be deposited with and held by the Manager.
Section 9.02 Coverage. Insurance shall cover the following when available: a) the replacement value of. all Apartments and Co1111110n Elements. Such coverage shall afford protection against loss or damage by fire and other hazards covered by a standard extended coverage endorse~ent and against such other risks as 5re customarily covered with respect to buildings and improvements similar to the buildings and improvements on the Land. No insurance of the contents of or improvements to any Apartment (other than the fixtures originally installed therein during renovation by the Grantor) sh&l.l be provided by the Council;
b) public liability in such alllOunts (but at least ~300,000,00 as respects Bodily Injury and Property Damage) and with such coverage as shall be determined by the Board of Directors, including, but not limited to, hired automobile and non-owned automobile coverage;
c) worklllen's compensation (if required); and
d) such other insurance as the Board of Directors may from time to time determine to be desirable.
Procurement of such insurance shall be governed by the following:
a) All policies shall be written with a company licensed to do business in the State of South Carolina and holding a rating of "AA" or better by Best's Insurance Reports.
b) In no event shall the insurance coverage obtained and maintained by the Board of Directors hereunder be brought into contribution with insurance purchased by individual Owners or their mortgagees •
.c) The Board of Directors shall conduct an annual insurance review which. shall include a replacement coat review of all insurable improvements on the Prop11rty (with the exception of improvements and betterments made by the respective Owners a~ their exp~nse).
d) The Board of Directors shall be required to make every reasonable effort to aucure insurance policies that will provide for the following: (1) a waiver of subrogation by the insurer as to any claims against the Board of Directors. its Manager, the Owners and their respective servants. agents and guests; (2) a waiver by the insurer of its right to repair and reconstruct instead of paying cash; (3) that the master policy on the Property cannot be cancelled. invalidated or suspended on account of the actions or defaults of any one or more individual Owners; and (4) that the master policy on the Property cannot be cancelled. invalidated or· suspended on account of the conduct of any director. officer or employee of the Association without a prior demand in writing delivered to the Association to cure the defect and the allowance of a reasonable time thereafter within which the defect may be cured by the Association, any Owner or any mortgagee.
Section 9.03 Premiums and Deductibles. Premiums upon insurance polici1:11 and th11t portion of any covered loss not compensated for because of the loss deductible clau~e of the policy shall be paid by the Council as a Common Expense. and shall be paid by the Co-owners in proportion to their respective interests in the Common Elements.
Section 9.04 Claims Adjustment. The Board of Directors is hereby irrevocably appointed agent for each Co-owner to adjust all claima arising under insurance policies purchased by the Council or its Manager,· and to. execute and deliver releases upon payment of claims,
Section 9.05 Proceeds. The proceeds received by the Council from any indemnity paid under a hazard insurance policy shall be held by the Board of Directors. After deduction of all reasonable expenses· of the Board in administering such proceeds, the net proceeds shall be distributed as follows:
a) if the Property is not reconstructed as provided in Article X of the Master Deed, then each Co-owner shall receive a share of the prC1ceeds
Page 11 of Bylaws proportionate to his interest in the CollllllOn Ele.1114nts as shown in Exhibit "D" • in a check made jointly payable to the Co-owner and his mortgagee. if any; or b) if reconstruction takes place. then such proceeds shall be used to meet reconstruction costs as provided in Arti<:le X of the Master Deed and Article VII of these Bylaws. and any proceeds remaining after all the costs of reconstructing the Property have been paid shall be distributed to the Council for the benefit of all Co-owners.
. Section 9.06 Insurance by Co-owners. Each Co-owner shall be responsible for obtaining such amounts of the following types of insurance as he deelll8 necessary or desirable: (a) hazard insurance on his Apartment and its contents for his own benefit, and (b) liability insurance covering accidents occurring within his Apartment."· Any Co-owner who obtains hazard insurance for his own benefit shall within thirty days of obtaining the same deliver to the Board of Directors a copy of the policy of insurance. ARTICLE X RESTUCTIONS AND REGULATIONS
Section 10.01 Restrictions. The use of the Property shall be subject to the following restrictions: a) Apartments shall b.e used only as residences. This restriction shall not be construed so as to prevent ~ Co-owner from leasing or renting his Apartment to others as set forth in Paragraph h below for use otherwise conaistent with this Master Deed. b) All portions of the Property designated as parking area shall be a part of the Comiaon Elements• and shall .be utilized by Co-owners in accordance with the following rules, as well as any additional rules established by the Aasociation:
(i) Only passenger automobiles in operating condition wi~h current and effective license tags and inspection stickers may be parked in parking spaces adjucent to any of the buildings, and the Board of Directors of the Aasociation may cause property stored or parked in violation. hereof to be removed at the expense of the Apartment owner who parked or· stored the same .....or whose family member• invitee• lessee. or guest. parked or stored the (ii) All campers, recreational vehicles. boats, and oversized vehicles· must be parked off the Property. The owner of such vehicles shall be:? responsible for procuring said off-site storage space which shall in no event be considered an obligation or expense of the Regime.
(iii) Parking spaces lllaY be assigned by the Board of Directors to each Apart111ent on a pro-rata basis according to the assigned percentage value of the Apart111ent set forth in Exhibit "D" hereof in relation to the total number of parking spaces available.
c) No animals• livcsLud1. ur: poultry of any kind shall be raised, bred or kept on any part of the Property, except that dogs. cats or other household pets may be kept by the respective Co-owners in their respective Apartments. provided that they are not kept• bred or maintained for any co1D111ercial purpose and do not endanger the health of any Co-owner, or in the sole discretion of the Board of Directors unreasonably disturb the owner of any Apartment or any resident thereof.
d) . No advertising, signs, billboard, unsightly objects, or nuisance shall be erected, placed or permitted to remain on the Property, nor shall the Property be used in any way or for any purpose which illlly endanger the health of or unreasonably disturb the owner of any Apartment or any resident thereof. No business activities of any kind whatever shall be conducted in any building or in any portion of the Property; provided, however, the foregoing covenants shall not apply to the business activities• signs and billboards of the Grantor. its agents or assigns during the renovation and sale period.
e) Large garbage deposit containers may be' maintained on a designated portion of the General .Co111111on Elements, and all Apartment owners shall deposit their garbage therein. The Regime shall arrange for the
Page 12 of Bylaws regular pickup of garbage from these cont•iners. No Apartment owner shall be allowed to have or maintain any type of clothealine or storage pile outaide his Apartment. f) Except as may be approved. by the Board of Directors, no planting or gardening shall be done, and no fences, hedges or walls shall be erected or maintained upon said Property except as approved by the Board of Directors or their designated representatives. Except for the exercise of rights of ingress and egress in appropriate areas, and for nQrmal · utilization of recreational amenities, the owners of Apartments are hereby prohibited and restricted from using any of sisid Property outside of their respective Apartments, . except as may be allowed by the Board of Directors or as expressly provided for herein. It is expressly acknowledged by all parties concerned that this paragraph is for the mutual benefit of all Co-owners in the Regime and is necessary for the protect.ion of said Co-owners. g) Without prior written approval of the Board of Directors, no exterior television or radio antennas of any sort shall be placed, allowed or -intained upon any portion of the improvements located upon the Property nor upon any structure situated upon the Property other than an aerial earth ·station, or disc for a master antenna or satellite receiving system, should any such master system or systems be utilized by the Granter and/or the Regime. h) Entire Apartments may be rented provided the occupancy :j.s no.t for less than six (6) months and such occupancy is only by the lessee and his immediate family or u~ may be approved or otherwise provided for by the Board of Directors. No single room may be rented and no transient tenants accommodated. This Section 10.01 (h) shall not apply to any lease or leases which may be entered into by the Grantor or which may be in existence on the date of the recording of this Master Deed.
i) No Co-owner shall create or permit excessive noise, smoke·, or offensive odors or any nuisance to unreasonably interfere with the use and enjoyment of the Pruperty by any other person entitled to the same. No person shall maintain on the Property, and no Co-owner ahall permit within his Apartment any condition which is unreasonably hazardous to the life, health. or property of anY. other person.
Section 10.02 ".Regulations. The Board of Directors may adopt and amend fro11 time to time such reasonable regulations (Regulations) governing the operation and use of the Property as they may deem necessary or desirable. It shall not be necessary to record Regulations newly adopted or the amendment or repeal of existing Regulations, but no Co-owner shall be bound by any newly adopted Regulation or any amendment or repeal of an existing Regulation until a copy of the same has been delivered to him.
Section 10.03 enforcement. The Board of Directors shall enforce the terms ut the Act, the Master Deed, and these Bylaws and the Regulations promulKatud puruuant hereto by taking prompt and appropriate action to correct any violations. In addition to any other remedy to which the Council or any Co-owner may be entitled.. the Board of Directors may impose against a Co-owner reasonable fines not to exceed a total of ten dollars ($10.00) per day for any violation of the terms of the Act, the Master Deed, these Bylaws. or the Regulations promulgated pursuant hereto. Such fines shall be collected by Individual Assessment. Each day during which a violation occurs or continues may be deemed a separate offense.
Section 10.04 ·Responsibility of Co-owners. Each Co-owner shall be deemed responsible for the conduct of members of his household and his tenants, agents, guests and pets• but the responsibility of the Co-owner shall not relieve any member of his household or any of his tenants, agents, or guests from any liability to the Council or to a Co-owner for thei~. own acts.
ARTICLE XI LIABILITY AND INDEMNIFICATION
Section 11.01 Liability of Council. No Co-owner shall be liable for a greater parcentage of a debt or liability of the Council than his percentage of ownership of the Common Elements. All correspondence of the Council and all contracts executed by the Council shall incorporate the following recital:
Page 13 of Bylaws . Perreyclear Pointe Council of Co-owners is an association established pursuant to the Horizontal Property Act of South Carolina. No member of the Council shall be liable for a grea·cer percentage of a debt or liability of the Council than his percentage of ownership of the Common Elements.
Section 11.02 Indemnification Among Co-owners. Each Co-owner shall be entitled to contribution from and indemnification by every other Co-owner to th• extent that such Co-owner discharges or is required to discharge any portion of any liability of the Council in excess of such Co-owner's proportionate share thereof, except that no Co-owner shall be required to provide contribution or indemnification on account of a debt which was due and payable prior to the time such Co-owner became a Co-owner.
Section 11.03 Liability of Directors and Officers. No Director or officer of the Council shall be liable to any Co-owner for any decision, action, or omission maae or performed by such Director or officer in the course of his duties unless such Director or officer acted in bad faith or in reckless disregard of the rights of any person or of the terms of the Act, the Master Deed, or these Bylaws.
Section 11.04 Indemnification of Directors and Officers. The Council ahall indemnify and defend each Dir~ctor and each officer of the Council from any liability claimed or imposed against him by reason of his position or actions as a Director or an officer of the Council if all of the following conditions are satisfied: a) such Directura or officer is not required to bear such liability by the terms of the Act, the Master Deed, or these Bylaws; b) such Director or officer gives the Council adequate notice of the claim or imposition of liability to permit the Council reasonable opportunity to defend a~ainst the Hllllle; and c) such Director or officer coope'ratea with the Council in defending against the claim.
The expense of indemnifying a Director or an officer shall be a Common Expense and shall be. borne by .all the Co-owners, including such Director or officer.
ARTICLE XII ATTESTATIONS AND CERTIFICATIONS
Section 12.01 Attestation of Documents. The presence of the signature of the Secretary of the Council on any contract, conveyance, or any other document executed on behalf of the Council by another officer of the Council shall attest: a) that the officer of the Council executing the document does in fact occupy the official position indicated, that one in such position is duly authorized to execute such document on behalf of the Council, and that the aignature of such officer subscribed on ·the document is genuine; and b) that the execution of the documen.t on behalf of the Council haa been duly authorized.
Section 12.02 Certification of Documents. When any document relating to the Property or the Council is certified as authentic by the Secretary of the Council, a third party without knowledge or reason to know to the contrary may rely on such document as being what it purports to be.
Section 12.03 Certification of Actions and Facts. When ther~ is executed by the Secretary or an Assistant Secretary a written statement setting forth (a) actions taken by the Council or by the Board of Directors, or (b) facts relating to the Property or the Council as determined by the Board of Directors, a third party without knowledge or reason to know to the contrary may rely on such statement as factually true and correct.
Page 14 of Bylaws ARTICLE XIII AMENDMENTS
Section 13.01 By-Laws. These ~y-Laws may be amended as set forth in Article XI of the Kaster Deed.
ARTICLE XIV MORTGAGES Section 14.61 Notice to Board. A Co-Owner who mortgages his Apartment shall notify the Board of Directors through the Manager of the n8111e and address of his mortgagee. The Regime shall also accept and record such notification when received directly from the mortgagee, and the Regime shall -intain this information in a book entitled "Mortgagees of Apartments,"
Section 14.02 Notice of Unpaid Assessments. The Board shall, at the request of a mortgagee of an Apartment, report any unpaid assessments due to the Regime by the Co-Owner of such Apartment. When requested by terllls of the initial correspondence filed pursuant to Section 14.01, the Board shall report to the moTtgagee any unpaid assessments due the Regime from such Co-owner as soon as such assessments become delinquent.
ARTICLE '.IY . MISCELLANEOUS
Section 15.01 Record of Ownership. Any person who acquires title to an Apartment (unless merely as security foT a debt) shall promptly inform the Board of DirectoTs of his identity and the date upon and the manner in which title was acquire4. The Board of DiTectors shall maintain a record of th• IUllllBS of all Co-owners and of the dates upon which they acquired title to their Apartments. ·
Section 15.02. Notices. Any notices or documents placed in the mai1 T&ceptacle or affixed to the front door of an Apartlllent by or at the diTection of the Board of Directors shall be deemed deliveTed to the Co-owner of such Apartment unless the Co-owneT has previously specified to the Board of Directors in writing another addTess for delivery of such notices and documents. Any notice or docu•ent addressed to the BoaTd of Directors and deliv~red to any DiTector by or at the direction of a Co-owner ah'all be deemed de~ivered to (he BoaTd of Directors. Section 15.03 WaiveT. No provision of these Bylaws or the Regulations pTomulgated pursuant hereto shall be deemed to have been abrogated or waived by reason of any failure to enforce the same, Tegardless of the number of violations or breaches which may have occurred.
Section 15.04 Conflicts. In the event of any conflict between these Bylaws and the Act OT the Master Deed, the Act or the Master Deed shall control, as appropriate. In the event of a conflict between these Bylaws and the Regulations, these Bylaws shall control.
Se~tion 15.05 Severability. T~e provisions of these Bylaws are aeverable, and the invalidity of one or moTe provision• hereof shall not be deemed to impair or affect in any manner the enforceability OT effect of the re.. inder.
Section 15.06 Captions. Captions are inserted only as a matteT of convenience and for Teference and in no way define, limit, or describe the scope of these Bylaws OT the intent of any provision •
. Section 15.07 GendeT and Number. All nouns and pronouna used herein shall be deemed to include the masculine, the feud.nine, and the neuter, and the aingular shall include the plural and.!!£!..!!.!:!.!• whenever the context requires or perlllita. H82/b
Page 15 of Bylaws