ELDRIDGE PARK

DECLARATION OF COVENANTS, CONDITIONS & RESTRICTIONS 

ARTICLE IX 

MISCELLANEOUS PROVISIONS 

            Section 1 Duration. This Declaration and the covenants, restrictions, conditions, charges, and liens set out herein shall run with and bind the land, and shall inure to the benefit of and be enforceable by the Association, and every Owner of any part of the Property, including Declarant, and their respective legal representatives, heirs, successors, and assigns, for a term beginning on the date this Declaration is recorded, and continuing through and including December 31, 2023, after which time said covenants, restrictions, conditions, charges, and liens shall be automatically extended for successive periods of five (5) years unless a change (the word “change” including additions, deletions or modifications thereto, in whole or in part) is approved by a majority of the total eligible votes of the Members of the Association as defined in Article II hereof, voting in person or by proxy, at a meeting duly called for such purpose, written notice of which shall be given to all Members at least thirty (30) days in advance of the meeting and shall set forth the purpose of such meeting. 

            Section 2.  Amendment.  This Declaration may be amended or terminated at any time by a majority of the total eligible votes of each class of membership of the Association voting in person or by proxy at a meeting duly called for such purpose written notice of which shall be given to all Members at least thirty (30) days in advance of the meeting and shall set forth the purpose of such meeting, provided that Declarant must consent thereto if such amendment or termination is to be effective prior to January 1, 1997.  Any amendment or termination shall become effective when an instrument is filed for record in the Official Public Records of Real Property of Harris County, Texas, with the signatures of the requisite number of the Owners of the Property (and the signature of Declarant if prior to January 1, 1997). 

            Section 3.  Enforcement.  The Association, every Owner of any part of the Properties, Declarant, and their respective legal representatives, heirs, successors and assigns, shall each have the right (but not the duty) to enforce this Declaration and the covenants, conditions, charges and liens contained herein.  Enforcement of the covenants, conditions and restrictions shall be by any proceeding at law or in equity against any person or persons violating or attempting to violate any covenant, condition or restriction, either to restrain violation or to recover damages, and against the land to enforce any lien created by these covenants.  Failure by the Association or any Owner or Declarant to enforce any such covenant, condition, restriction, charge or lien shall in no event be deemed a waiver of the right to do so thereafter.  

            Section 4.  Severability of Provision.  If any paragraph, section, sentence, clause or phrase of this Declaration shall be illegal, null or void for any reason or shall be held by any court of competent jurisdiction to be illegal, null or void, the remaining paragraphs, sections, sentences, clauses or phrases of this Declaration shall continue in full force and effect and shall not be affected thereby.  It is hereby declared that said remaining paragraphs, sections, sentences, clauses and phrases would have been and are imposed irrespective of the fact that any one or more other paragraphs, sections, sentences, clauses or phrases shall become illegal, null or void. 

            Section 5.  Notice.  Whenever written notice to the Owners (including Declarant) is required hereunder, such notice shall be given by the mailing of same, postage prepaid, to the address of such Owners appearing  on the records of the Association (and as furnished to the Board of Directors by such Owners).  If notice is given in such manner, such notice shall be conclusively deemed to have been given by placing same in the United States mail, postage prepaid, properly addressed, whether received by the addressee or not. 

            Section 6.  Titles.  The titles, headings and captions which have been used throughout this Declaration are for convenience only and are not to be used in construing this Declaration or any part thereof. 

            Section 7.  Number and Gender of Words.  Whenever used in this Declaration, the singular number shall include the plural where appropriate, and vice versa; words of any gender shall include each other gender, where appropriate.   

            Section 8.  Assignment.  Declarant shall have the right to assign and/or delegate its rights, privileges, duties and obligations hereunder. 

            Section 9.  Address of Declarant.  The mailing address of Declarant is 4809 Cole Avenue, Suite 250, Dallas, Texas 75205-3523. 

            Section 10.  Insurance.  The Board of Directors of the Association shall obtain insurance (the premiums for which shall be a common expense payable from property assessments) for all the Common Areas and the Common Facilities, as follows (such insurance amount is specified in this Declaration): 

(a)     Insurance on all insurable improvements loss or damage by fire and all other risks       insured by standard extended coverage policies in use in the Sate of Texas, with such endorsements as the Board of Directors deems advisable, in amounts sufficient to prevent the Association from being a co-insurer within the terms of such policies, but in any event in an amount not less than the full replacement cost thereof.  The full replacement cost of such improvements shall be determined annually by the Board of Directors which may obtain an appraisal in making such determination, the cost of which shall be a common expense from property assessments. 

(b)     Comprehensive general liability insurance against claims for bodily injury or death (minimum coverage of $300,000) and property damage (minimum coverage of $1000,000) suffered by the public or any Owner, the family, agent, employees or invitee of any Owner, occurring in, on or about the Common Areas, and at least $1,000,000.00 in “umbrella” coverage.  Any policy obtained pursuant to this subsection (b) shall contain a cross-liability endorsement whereby the rights of a named insured shall not prejudice his, her or their action or actions against another named insured, and shall contain a “severability of interest” type of endorsement precluding the insurer from denying a claim of an Owner or the Association because of the negligent acts of other Owners or the Association. 

(c)       Such other insurance in such reasonable amount as the Board of Directors shall deem desirable, including without limitation, director’s and officer’s liability insurance for the directors and officers of the Association against any liability asserted against any such party, or incurred by such party in such capacity, or arising out of such party’s status as a director or officer; and fidelity bonds for any management company retained by the Board of Directors. 

(d)       All insurance provided for herein shall be effected with responsible insurers authorized to do business in the State of Texas.  All such policies of insurance shall name as insured the Association.  All insurance policies shall be held with insurance companies with an AM Best & Company rating of not less than an A + 9 rating. 

Immediately after the damage or destruction by fire or other casualty to all or any part of the Common Areas or the Common Facilities covered by insurance written in the name of the Association, the Board of Directors or its duly authorized agent shall proceed with the filing and adjustment of all claims arising under such insurance and obtain reliable and detailed estimates of the cost or repair or reconstruction of the damaged or destroyed property.  Repair or reconstruction as used in this paragraph means repairing or restoring the property to substantially the same condition in which it existed prior to the fire or other casualty. 

Any damage or destruction to the Common Areas or Common Facilities shall be repaired or reconstructed unless Members holding a majority vote of each class of voting membership in the Association decide within sixty (60) days after the casualty not to repair or reconstruct.  If for any reason either amount of the insurance proceeds to be paid as a result of such damage or destruction, or reliable and detailed estimates of the cost of repair or reconstruction, or both, are not made available to the Association within said period, then the period shall be extended until such information shall be made available; provided however, that such extension shall not exceed sixty (60) days. 

In the event that it should be determined by the Association in the manner described above that the damage or destruction of the Common Areas or Common Facilities shall not be repaired or reconstructed and no alternative improvements are authorized, then and in that event the property shall be restored to its natural state and maintained as an undeveloped portion of the Common Areas by the Association in a neat and attractive condition.