Last Update 12 March 2017

Section 13.01. Duration. This Declaration shall continue in full force for a term of approximately sixty-two (62 years, commencing on the date hereof, and ending on August 31, 2041. There shall be no severance by sale, conveyance, encumbrance or hypothecation of an interest in any Unit from the concomitent Membership in the Association, as long as this Declaration shall continue in full force and effect. The provisions of this Article are subject to the provisions of Article X and XI of this Declaration.

Section 13.02. Amendment. Notice of the subject matter of proposed amendment to this Declaration in reasonably detailed form shall be include in the notice of any meeting of the Association at which a proposed amendment is to be considered. A resolution adopting a proposed amendment may be proposed by a Unit Owner at a meeting of Members of the Association. The resolution shall be adopted by the vote, in person or by proxy, or written consent of seventy-five percent (75%) of the voting power of each class of Members . A copy of each amendment shall be certified by at least two (2) officers of the Association and the amendment shall to effective when the Certificate of Amendment is Recorded. Notwithstanding the foregoing, any of the following amendments, to be effective, must be approved in writing by the record holders of seventy-five percent (75%) of the first Mortgages on all of the Condominiums in the Project at the time of such amendment, based upon one vote for each Mortgage owned:

  1. Any amendment which affects or purports to affect the validity or priority of encumbrances or the rights or protection granted to encumbrancers as provided in Articles V, IX, X, XI, XII and XIII hereof.

  2. Any amendment which would necessitate an encumbrancer after it has acquired a Condominium through foreclosure to pay more than its proportionate share of any unpaid assessment or assessments accruing after such foreclosure.

  3. Any amendment which would or could result in an encumbrance being cancelled by forfeiture, or in the individual Condominium not being separately assessed for tax purposes.

  4. Any amendment which would or could result in termination or abandonment of the Project or partition or subdivision of a Condominium Unit, in any manner inconsistent. with the provisions of this Declaration.

  5. Any amendment which would subject any Unit Owner to a right of first refusal or other such restriction in favor of the Association, in the event such Unit owner exercises his right to sell, transfer or otherwise convey his Condominium.

A certificate, signed and sworn to by two (2) officers of the Association that the record Owner of seventy-five percent (75%) of the Condominium have either voted for or consented in writing to any amendment adopted as above provided, when Recorded, shall be conclusive evidence of such fact. The association shall maintain in its files the record of all such votes or written consents for a period of at least four (4) years. The Certificate reflecting any amendment which require* the written consent of any of the record holders of first Mortgages shall be signed and sworn to by such first Mortgagees. When such Certificate is Recorded, it shall be noted that such amendment has been so approved.

Section 13.03. Protection of Grantor and Sublessor. The prior written approval of Grantor, as developer of the Project, will be required before any amendment which would impair or diminish the rights of Grantor to complete the Project or sell or lease Condominiums therein in accordance with this Declaration shall become effective. The prior written approval of Sublessor will be required before any amendment to this Declaration shall become effective.

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