Document No. 3881955. On the following land located off of King Avenue West and South 80th Street West:
The plat of Shop World 1 Subdivision, being lots 1-188, filed as Document No. 3881916 in the office of the Yellowstone county Clerk and Recorder, located in the Northeast One- Quarter (NE ¼) of section 14, Township 1 South, Range 24 East, Principal Meridian Montana, Yellowstone County, Montana.
By the signing of this agreement the under assigned agree to, understand and acknowledge the existence, terms, costs and conditions of this agreement.
1. There are 188 Lots in Shop World 1, Block 1 Lots 1-188, (the Plat of Shop World 1 Subdivision, being Lots 1-188, filed as Document No. 3881916 in the office of the Yellowstone County Clerk and Recorder) located in the NE 1/4 of section 14, TWP 1 South, Range 24 East, Principal Meridian Montana, Yellowstone County Montana.
2. This agreement does not apply to: Lots 187-188 (Residence Access off of 84th St. West)
3. The “Original Developer” is Levi Britton.
4. There exists 2 Entry Areas with Structures and Signs, one off of 80th Street West and one off of King Avenue West. All roads with in Shop World 1 are private roads allowing access to Lots 1-186, allowing access to Emergency vehicles to Fire Suppression tank and possible future Traffic to the South on Fire Tank Street.
5. There will be a current charge of $300 per year, per lot (paid by Property Owners) to cover the current costs of providing, supplying, construction, and snow plowing of private roads, public restrooms, Entry Structures, Entry signs and Entry Areas of and within Said Shop World 1 along with a liability insurance policy for Property Owners of Shop World 1.
6. Maintenance, sealing, chip sealing, patching, repaving, culvert repairs, street signage of roads and easement areas along with operating costs, repair, maintenance of public restrooms, entry structures, entry signs, entry areas, retention ponds and areas, any taxes including property Taxes and other related costs shall be on a special assessment basis.
7. The director of the Shop World 1 Property Owners Group is Levi Britton, and/or his heirs or his assigns, selected by the Director. The Director shall oversee Repairs, maintenance and snow plowing on all things described in #5 and #6 above. Cost of Annual Dues may increase and/or additional special Assessments made as needed to cover all investments, costs and expenses described in #5 and #6 above as determined by Director.
8. Annual dues (currently $300. Per year, per lot) made out to the Director is Due January 1 of each year, shall be prorated at closing of any transferred (sales) of said lots. NOTE: Annual Dues (currently $300 per year, per lot) and or any special assessments are deemed as due and owing regardless of any structure progress or use of any kind of the owners lot. Dues and Assessments are for Lot Ownership not lot use.
9. Special assessments may be calculated for items described in #6 above. The expenses will be totaled and divided by the number of all lots not owned by the original developer (unsold Lots, still owned by the Original developer his heirs or assigns will remain exempt from annual dues and special assessments) unless otherwise noted, any special assessments will be due within 30 days of notice date.
10. Annual dues notices and/or special assessments notices as well as any and all other notices shall be considered delivered when sent by United State Postal Services, sent to the Last known address of Property Owner. It shall remain the responsibility of the Lot Owners to advise the director, in writing, (U.S.P.S.) of any address changes other than the last known address. A $50 Late Fee will be assessed for payments more than 30 days late, all payments will be considered delinquent 90 days after notice date.
11. In the case of delinquent annual owners dues (currently $300 per year, per lot) late fees, and/or possible special assessment each lot owner understands that a lien will be attached to the Title of Said nonpayment property and will be recorded at the Yellowstone County Courthouse, along with a $100 Lien creation fee, and up to 10% interest as calculated. A separate lien for each year owing may be filed with its own $100. Lien creation fee. Unpaid liens may be foreclosed in the same manner as lien for common expenses.
12. The Director (s) is not personally liable for hardships to lot owners created by collecting current annual fees, special assessments, late fees or lien creation fees.
13. Voluntary, involuntary, intentional or accidental damage to Roads, signs, culverts, easement areas, entry areas, entry structures, fencing, retention ponds, public restrooms, Fire Suppression Tank or area will be a direct charge to those responsible.
14. Any future transfers (sale) of said lots must include the signing and recording of a copy of this or currently amended Owners Agreement, binding the New property Owners to the same conditions of the original or currently amended agreement.
15. For all those items mentioned in #5 and #6 above, the cost to maintain, repair or replace those listed items is solely that of the Lot Owners of lots 1-186. Yellowstone County, the directors, the Original developer nor the installers of any of those items has or have no liability or responsibility to pay for, maintenance or repair of any of those items listed in #5 or #6 above now or in the future.
16. No person, persons or entity (including director, developer or installer) have in any way represented or guaranteed the function or durability of those items listed in #5 or #6 above.
17. Original Developer may, at his sole discretion and without consent, dedicate and/or transfer certain lots to the Shop World 1 Property owners group. Those lots may include but not limited to: Lot 1 (retention pond), Lot 112 (retention pond), Lot 186 (Fire Suppression Tank).
18. Director may, at his sole discretion exempt or reduce payment amount of any lot paying annual dues or special assessment dues, those lots may include but not be limited to: those lots described in #17 above.
Las Palmas, L.L.C.- seller
By Levi J Britton, Manager