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HomeMy WebLinkAbout0050 CENTERBOARD LANE - PLANS OPEN SPACE RESTRICTION - EASEMENT I, NICHOLAS D. FRANCO, TRUSTEE of FRANCO FAMILY NOMINEE TRUST, under a Declaration of Trust dated September 6, 1983 and registered with the Barnstable County Registry of Deeds, Land Registration Section, as Document No . 318,535 of Barnstable (Hyannis ) , Barnstable County, Massachusetts grant to THE TOWN OF BARNSTABLE, a municipal corporation , with a mailing address of 367 Main Street , Hyannis , MA 02601 for consideration of the approval by said Town of an Open Space residential development shown on a plan of land entitled The perpetual right and easement to enter upon the "Open en Space" areas shown on said plan, subject to the rights and reservations contained herein, in order to maintain the said Open Space areas in accordance with the standards required by the Planning Board of the Town of Barnstable and to remove any offending improvements not authorized by said Planning Board. Any costs incurred by said Town in performing any maintenance work as hereinabove set forth shall be reimbursed to the Town within thirty (30 ) days from the date an invoice from said Town for said cost has been submitted to the Trustees of the Hyannis Village Trust . In the event said cost is not paid in full within said time period, the Town may assess each lot in said Open Space development for its proportionate share of said cost in the same manner as a betterment assessment or may take such other action as the Town deems advisable . In order to ensure that said Open Space areas shall be kept in an open or natural state and not be built upon for residential use or developed for accessory uses, such as parking or roadway, the grantor hereby agrees that: A. Except as set forth in Paragraph B, neither the grantor nor his successors or assigns will perform or give permission to others to perform the following acts or uses on the premises : 1 . No residence, road (except for a connecting road to adjoining properties duly approved by the Town of Barnstable Planning Board) , sign, billboard or other advertising display, mobile home or other temporary or permanent structure will be constructed, placed or permitted to be placed or to remain on, above or under the premises; 2 . No trees , grasses or other vegetation on the premises shall be cut, removed or otherwise destroyed, except for the purpose of clearing of shrubbery, trees and other vegetation for the purposes of beautification and maintenance of vistas ; and 3 . No use shall be made of the premises and no activity thereon shall be permitted which is or may become inconsistent with the intent of this grant, being the preservation of the premises predominantly in their present condition, the protection of environmental systems and scenic enjoyment . B. The provisions of Paragraph A notwithstanding, the following uses and activities shall be permitted: 1 . Use of the premises for any recreational use and accessory facilities incidental to the �V44-a`ge Open Space development, including, but not limited to, tennis, platform tennis and other racquet sports, a golf course, walking trails, and a community building for the use of the Open Space Village residents for active and passive recreational uses ; 2 . Use of the premises or any part thereof for farming, agriculture, horticulture, silviculture, forestry and park uses ; and 3 . Landscaping, excavation and filling, well-digging, removal or cutting of vegetation, creation of paths, installation of utilities, fencing and plowing, provided that such activities are normally associated with the foregoing permitted uses . The easement hereby conveyed does not grant to the other rigths than to enter for the purposes of ensuring rantee thatny 9 2 the above provisions are adhered to and complied with by the Trustees of Hyannis Village Trust and its beneficiary lot owners . Executed as a sealed instrument this day of 198 ' FRANCO FAMILY NOMINEE TRUST By Nicholas D. Franco, Trustee COMMONWEALTH OF MASSACHUSETTS Barnstable, ss . , 198 Then personally appeared the above named NICHOLAS D. FRANCO, Trustee as aforesaid, and acknowledged the foregoing instrument to be his free act and deed, before me, Notary Public My commission expires : 3 PROTECTIVE COVENANTS, RESTRICTIONS RIGHTS AND RESERVATIONS GOVERNING "1tYA N N I=a=V=117L-A1 "" , G a�31!34ES7-0itdtF , AN OPEN SPACE DEVELOPMENT IN 7)/A1C7 HYANNIS, MASSACHUSETTS WHEREAS, NICHOLAS D. FRANCO, TRUSTEE of FRANCO FAMILY NOMINEE TRUST, of 765 Falmouth Road, Hyannis, Massachusetts , is the owner in fee of land in Barnstable (Hyannis ) , Barnstable County, Massachusetts, as shown on plan entitled WHEREAS, it is the intention of NICHOLAS D. FRANCO, TRUSTEE of FRANCO FAMILY NOMINEE TRUST, to create an area designated on said plan above noted in Hyannis as aforesaid as a desirable Open Space residential community in a natural wooded setting for the lots in the subdivisions; to encourage the erection of attractive homes properly designed; to secure proper and pleasing site development and to assure a high quality of community appearance . THEREFORE, to protect and preserve the natural beauty and scenic view and to create a desirable residential community and to appreciate the value of all lots on said plan for the Mutual enjoyment and privacy of all those presently owned and to be conveyed to the future lot owners, NICHOLAS D. FRANCO, TRUSTEE Of FRANCO FAMILY NOMINEE TRUST, does voluntarily impose the following restrictions, conditions, reservations and rights to be applicable to all building lots as shown on said plans, which said restrictions, conditions, reservations and rights shall run with the land and be binding on all parties having or hereafter having any right, title or interest in said premises . 1 . No buildings or fences or other structures of any kind or additions thereto or driveways shall be erected, placed or allowed to stand upon the land hereby conveyed until the size, plans, specifications and location thereof shall have been approved in writing or this restriction waived with respect thereto or released in writing by Nicholas D. Franco or such other person or persons as Nicholas D. Franco shall from time to time appoint by instrument recorded with said Registry of Deeds. The any approved structure on the land hereby conveyed, tonceionobegun, shall be carried forward .to completion with diligence; and any structure not substantially completed within twelve (12) months after it is begun shall be removed; provided that said twelve (12 ) month period shall be extended to the extent of any periods during which construction operations are prevented by governmental regulations, strikes or casualties . No owner of land hereby conveyed shall be responsible under this paragraph except for his acts and defaults while owner, nor required to remove or alter , because of violation of this fences or other structures orPdriveways erecteraph, any d prios, his ownership. prior to 2 4 z 2. No mechanical, mercantile or manufacturing trade or business shall be carried on or upon the above described premises , and no hospital or rest home for the care of the sick, feebleminded or insane shall be established or maintained thereon. 3 . No trailers , trucks, jeep-type vehicles, boats, lettered or commercial vehicles of any nature, junk automobiles or scrap materials shall be placed on or kept on any lot ; but this restriction shall not be construed so as to prohibit the placing or keeping of such things indoors in a garage or cellar where they cannot be seen from the outside. 4 . No animal or fowl except the common household pets shall be kept upon the granted premises, and these in reasonable and usual numbers . Shelter for the same shall be screened from view. 5 . There shall be no signs of any kind, excepting that signs denoting street names are allowed; excepting one sign indicating the owner,! s name and his professional title at each dwelling-house, and no sign shall exceed six inches by twenty-four inches ( 6 " x 24 " ) 6. There shall be no parking, storage or use of house trailers , tents or other temporary shelters on the granted premises . 7 . To maintain the residential character of the area, the lot owners therein shall keep the premises, prior to the erection or removal of a building onto said premises, cleared of underbrush and debris that portion of the lot between the front property line and the edge of the traveled way abutting said lot. 8 . No bulldozers or other crawler and cleated machines engaged directly and/or indirectly by lot owners shall be allowed to unload on or travel on any paved way. 9. Garbage placed outdoors shall be kept in covered sanitary containers only. The regular burning of garbage out is hereby prohibited, but this shall not prevent thed use sof an incinerator constructed within a house . 10 . Any lot owner, upon completion of any structure built upon his premises, shall pine-needle or seed all disturbed soil ; except that upon any lot where erosion is a factor causing clogging or filling of drainage areas and/or catch basins, sod shall be placed in such amounts and in such a manner so as to forestall such erosion . Said placement is to be made 3 forthwith after notice to the lot owner by Nicholas D. Franco or his legal representative . 11 . Any driveway placed on the premises shall be surfaced with hot-top, concrete, crushed stone, seashells or other commonly used surfacing material ; it being the intent of this restriction that there shall be no dirt driveway on the granted premises . 12 . All storage areas for rubbish, trash, etc. , and all clotheslines shall be enclosed with screen-type fencing. The enclosure shall be at a height adequate to screen that which is enclosed completely from view. The enclosure itself shall not be visible from any front yard, shall be placed to the rear of any dwelling, and shall be so situated so as to not encroach upon the aesthetics of any abutter 's view. 13 . Nicholas D. Franco or his legal representative reserves the right to modify or amend these restrictions in any manner he may determine shall be of benefit to subsequent lot owners. Provided, however , that no modification or amendment which affects said Lot will be effective without the prior written approval of the lot owner or its successors or assigns . Executed as a sealed instrument this day of 198 ► ' FRANCO FAMILY NOMINEETRUST By Nicholas D. Franco, Trustee COMMONWEALTH OF MASSACHUSETTS Barnstable, ss . 198 Then personally appeared the above named NICHOLAS D. FRANCO, Trustee as aforesaid, and acknowledged the foregoing instrument to be his free act and deed, before me, Notary Public My commission expires : 4 y; 'HY-AN-N I-S—V-I L-LAG E SAMPLE DEED NICHOLAS, D. FRANCO, TRUSTEE of FRANCO FAMILY NOMINEE TRUST, under a Declaration of Trust dated September 6, 1983 and registered with the Barnstable County Registry of Deeds, Land Registration Section, as Document No . 318 ,535, of Barnstable (Hyannis ) , Barnstable County, Massachusetts , for the full consideration of Dollars ( $ ) paid grant to with QUITCLAIM COVENANTS, the land in Barnstable (Hyannis ) , Barnstable County, Massachusetts, bounded and described as follows : LOT on plan of land entitled which said plan is duly filed with the Barnstable County Registry of Deeds in Plan Book , Page Said premises are conveyed together with the right to use the streets and ways- as shown on said plan for all purposes for which, streets and ways are now or may hereafter be used in the Town of Barnstable, reserving to the grantor the right to use said ways for all said purposes and to relocate said ways, provided said relocation does not encroach on said lot or prevent the owner of said lot from reaching .a public way, and which said reservation includes the grantor ' s right to locate ways within the open space shown� on said plan in order to connect said ways to adjoining "land which the grantor may acquire in the future . Said premises are hereby conveyed together with the right to use the "Open Space Areas" shown on said plan for recreational purposes , subject to such rules and regulations as the Hyannis Village Trust may at any time and from time to time specify, reserving to the grantor the right to grant said right for the .benefit of his remaining land shown on said plan and for other .._......_.. land that he may acquire in the future and which said land will be added to the land shown on said plan as part of an expanded open space plan, duly approved by the Town of Barnstable Planning Board. The grantee, by virtue of the ownership of said lot, shall become a beneficiary of the Hyann-is' V4-11 e Trust, the purpose of which Trust shall be to hold legal title to, control and maintain the Open Space Areas shown on said plan. The grantee, by acceptance of this deed, hereby agrees to pay to the Trustees of said Trust such amount as shall be assessed against said lot by said Trustees pursuant to the by-laws of said Hyannis Village Trust. The owner of said lot shall be personally responsible for any amounts assessed against said lot during the period of his ownership of said lot, said assessment shall be a lien on said lot and shall be collected and enforced in the same manner as the lien for common area charges of a condominium as set forth in Massachusetts General Laws , Chapter 183A. A certificate signed by any one of the said Trustees of the Hyannis Village Trust that all assessments have been paid in full shall be conclusive evidence that there is no lien against said lot for any assessed and unpaid charges for the period described in said certificate . The granted premises are conveyed subject to the provisions of the Declaration of Protective Covenants, Restrictions, Rights and Reservations Governing nis V.x--1i-dg'e dated and recorded with said Registry of Deeds in Book Page v ' The premises are further conveyed subject to an Open Space Restriction-Easement to the Town of Barnstabale dated in Book Page and recorded with said Registry of Deeds , For title, see deed recorded with said Registry of Deeds in Book , Page FRANCO FAMILY NOMINEE TRUST By Nicholas D. Franco, Trustee 2 i COMMONWEALTH OF MASSACHUSETTS Barnstable, ss , 198 Then personally appeared the above named NICHOLAS D. FRANCO, Trustee as aforesaid, and acknowledged the foregoing instrument to be his free act and deed, before me, Notary Public My commission expires : 3 include the plural and singular; words denoting males include females; and words denoting persons include individuals , firms, associations, companies ( joint, stock or otherwise) , trusts and corporations; unless a contrary intention is to be inferred from or required by the subject matter or context. The captions of articles and sections are inserted only for convenience of reference and are not to be taken to be any part hereof or to control or affect the meaning , construction, interpretation or effect hereof. All of the trust powers and provisions herein contained shall take effect and be construed according to the laws of the Commonwealth of Massachusetts . IN WITNESS WHEREOF the said NICHOLAS D. FRANCO has hereunto set his hands and seals on the day and year first i hereinabove set forth.- Nicholas D. Franco COMMONWEALTH OF MASSACHUSETTS Barnstable, ss 1985 Then personally appeared the above named NICHOLAS D. FRANCO and acknowledged the foregoing instrument to be his free act and deed , Before me , Notary Public My commission expires ; 25 procedure therefor established by the Town of Barnstable Planning Board or any successor body. Section 4. Upon the termination of this Trust, the Trustees shall sell and convert into money the whole of the trust property, or any part or parts thereof, and, after paying or retiring all known liabilities and obligations of the Trust and Trustees and providing for indemnity against any other outstanding liabilities and obligations, shall divide the proceeds thereof among , and distribute in kind, at valua- tions made by them which shall be conclusive, all other - property then held by them in trust hereunder to the lot owners according to their respective percentages of bene- ficial interest hereunder. In making any sale under this provision, the Trustees shall have power to sell by public auction or private contract and to buy in or rescind or vary any contract or sale, and to resell without being answerable for loss, and, for said purposes, to do all things, including the execution and delivery of instruments, as may by their performance thereof be shown to be in their judgment necessary or desirable in connection therewith. The powers of sale and all other powers herein given to ,the Trustees shall continue as to all property at any time remaining in their hands or ownership, even though all times herein fixed for distribution of trust property may, have passed. ARTICLE VIII Sale of Units Section 1. No Severance Of Ownership. No lot owner shall execute any deed, mortgage, or other instrument conveying or mortgaging title to his lot without including therein the appurtenant interest (as hereinafter defined) it being the intention hereof to prevent any severance of such combined ownership. Any such deed, mortgage, or other instrument purporting to affect one or more of such interest, without including all such interests, shall be deemed and taken to include the interest or interests so omitted, even though the latter shall not be expressly mentioned or described therein. No part of the appurtenant interests of any lot may be sold, transferred, or otherwise disposed of, except as part of a sale; transfer, or other disposition of the lot to which such interests are appurtenant, 23 or as part of a sale , transfer, or other disposition of such part of the appurtenant interests of all lots . "Appurtenant Interests" , as used herein, .shall include : (i) the undivided interest of a lot owner in the Open Space and facilities; (ii) the interest of such lot owner in any lots therefor acquired by the Trustees, or their designees, on behalf of all lot owners, or the proceeds of the sale or lease thereof, if any; ( iii ) the interest of such lot owner in any other assets of the Trust and (iv) exclusive rights of lot owners as provided in the Deed. Areas as to which lot owners have exclusive rights are sometimes referred to herein as limited common elements . Section 2. Payment of Assessments No lot owner shall convey, mortgage, pledge, hypothecate, sell , or lease his lot unless and until he shall have paid in full to the Trustees all unpaid common charges therefore assessed by the Trustees against his lot and until he shall have satisfied all unpaid liens against such lot. ARTICLE IX Disputes Any lot owner aggrieved by any decision or action of the Trust in the administration of the organization of owners may, within thirty ( 30) days of the decision or action of the Trust, appoint an arbitrator who shall be a member of the American Arbitration Association with not less than three ( 3) years ' experience as an arbitrator. Within ten (10) days after notice of such appointment, the Trust shall appoint another such arbitrator, and the two so chosen shall within ten ( 10) days thereafter choose a third such arbitrator. A majority of such arbitrators shall be entitled to decide any such matter, and their decision shall be rendered within thirty ( 30) days of the appointment of the third arbitrator. Such decision, subject to Chapter 251 of the Massachusetts General Laws, as from time to time amended, shall be final and conclusive on all persons. ARTICLE X Construction And Interpretation In the construction hereof, whether or not so expressed, words used in the singular or in the plural respectively, 24 F DECLARATION OF TRUST OF —H YAN-N-.1S--V I-L LAGE- THIS DECLARATION OF TRUST is made this day of 1985, at Barnstable (Hyannis) , Barnstable County, Massachusetts, by NICHOLAS D. FRANCO, (hereinafter called the "Trustee" , which term and pronoun referring thereto shall be deemed to include his successors in trust hereunder and to mean the Trustee or the Trustees for the time being hereunder, wherever the context so permits) . ARTICLE I Name of Trust The Trust hereby created shall be known as the HYANNIS VILLAGE TRUST, and under that name, so far as legal , convenient and practicable, shall all business carried on by the Trustees be conducted and shall all instruments in writing by the Trustees be executed. ARTICLE II The Trust And Its Purpose Section 1. The purpose of this Trust is to hold legal title to, manage and control the areas and any improvements constructed thereon designated as "Open Space" on a plan of land entitled and also to manage and control any and all other property which may be conveyed to the Trustee or Trustees hereunder. All property conveyed to the Trustees hereunder shall vest in the Trustees as joint tenants with right of survivorship as Trustees of this Trust, in trust, to exercise, manage, administer and dispose of the same and to receive the income thereof for the benefit of the owners of record from time to time of the lots of said Hyannis Village, according to the Schedule of Beneficial Interests set forth in Article IV, Section 1 , hereof, and in accordance with the provisions of this Trust. Section 2. It is hereby expressly declared that a trust and not a partnership has been created and that the lot owners are beneficiaries, and not partners or associates or any other relation whatever among themselves with respect to the trust property, and hold no relation to the Trustees other than as beneficiaries, with only such rights as are conferred upon them as such beneficiaries hereunder . ARTICLE III The Trustees Section 1. The initial Trustee, NICHOLAS D. FRANCO, shall be the Trustee of the Trust until such time that fifty IraO percent of all of the lots shown on said plan have been sold orr_W`/ years has elapsed from the sale of the first lot. Thereafter a lot owner' s meeting shall be called to elect Trustees pursuant to the provision below. From such time . forward there shall at all times be Trustees hereunder of not less than three (3) nor more than five ( 5) , as shall be determined from time to time by vote of the lot owners entitled to not less then fifty-one ( 51% ) percent of the beneficial interest hereunder. If and whenever the number of such Trustees shall become less than three ( 3) or less than the number of Trustees last determined as afore- said, a vacancy or vacancies in said office shall be deemed to exist. Each such vacancy shall be filled by an instrument in writing setting forth (a) the appointment of a natural person to act as such Trustee, rsigned ( i) by lot owners entitled to not less than fifty-one ( 51% ) percent of the beneficial interest hereunder, or ( ii) if lot owners entitled to such percentage have not within thirty ( 30) days after the occurrence of any such vacancy made such appoint- ment, by a majority of the then remaining Trustees, or by the sole remaining Trustee, if only one, and (b) the accept- ance of such appointment shall become effective upon the recording with Barnstable County Registry of Deeds of a certificate of such appointment signed by a majority of the then remaining Trustees or Trustee together with such acceptance, and such person shall then be and become such Trustee and shall be vested with the title to the trust property, jointly with the remaining or surviving Trustees or Trustee, without the necessity of any act of transfer or 2 conveyance. If for any reason any vacancy in the office of Trustee shall continue for more than sixty (60) days and shall at the end of that time remain unfilled, a Trustee or Trustees to fill such vacancy or vacancies may be appointed by any court of competent jurisdiction, upon the application of any lot owner or Trustee. Despite any vacancy in the office of Trustee, however caused and for whatever duration, the remaining or surviving Trustees, subject to the provisions of the immediately following section, shall continue to exercise and discharge all of the powers . discretions and duties hereby conferred or imposed upon the Trustees. After reasonable notice and opportunity to be heard before the Trustees, a Trustee may be removed from office by an instru- ment in writing signed by lot owners entitled to not less than fifty-one ( 51%) percent of the interest hereunder such instrument to take effect upon the recording thereof with Barnstable County Registry of Deeds . Section 2. In any matters relating to the administra- tion of the Trust hereunder and the exercise of the powers hereby conferred, the Trustees may act by a majority vote at any duly called meeting at which a quorum is present as provided in Paragraph A of Section 6 of Article V; provided , however, that in no event shall a majority consist of less than three ( 3 ) Trustees hereunder, and, if and whenever the number of Trustees hereunder shall become less than three ( 3) the then remaining or surviving Trustees, if any, shall have no power or authority whatsoever to act with respect to the administration of the Trust hereunder or to exercise any of the powers hereby conferred except as provided in Sentence 5 of Section 1 of Article III. The Trustees may also act without a meeting by instrument signed by a majority of that number . Section 3. Any Trustee may resign at any time by instrument in writing, signed and acknowledged in the manner required in Massachusetts for the acknowledgment of deeds and such resignation shall take,_ effect upon the recording of such instrument with said Registry of Deeds . Section 4. The organization of owners shall have fidelity coverage against dishonest acts on the part of directors, managers (and officers, employees and agents of a manager) trustees, employees or volunteers responsible for handling funds belonging to or administered by the condo- minium organization of owners . The fidelity bond or insur- ance shall name the condominium organization of owners as the named insured and shall be written in an amount not less than the estimated maximum of funds including reserve funds in the custody of the organization of owners, Trustees or manager, as the case may be, at any given time during the 3 term of each bond, and sufficient to provide protection which is in no event less than the greater of three ( 3) months aggregate assessments on all units or one and one- half ( 131) times the insured ' s estimated annual operating expenses, and also all reserves. The Trustees shall comply with all applicable bonding requirements of the Federal National Mortgage Association as promulgated from time to time. In connection with such coverage, an appropriate endorsement to the policy to cover any persons who serve without compensation shall be added if the policy would not otherwise cover volunteers. Fidelity bonds required herein must meet the following requirements : (a) Fidelity bonds shall name the organization of owners as an obligee . (b) The bonds shall contain waivers by the insurers of the bonds of all defenses based upon the exclusion of persons serving without compensation from the definition of "employees" , or similar terms or expressions; (c ) The premiums on all bonds required herein for the organization of owners (except for premiums on fidelity bonds maintained by a management agent for its officers, employees and agents ) shall be paid by the organization of owners as a common expense; (d) The bonds shall provide that they may not be cancelled or substantially modified (including cancellation for non-payment of premium) without at least ten ( 10) days' prior written notice to the organization of owners and to the Trustees as Insurance Trustees and each mortgagee . Section 5. No Trustee hereinbefore named or appointed as hereinbefore provided shall under any circumstances or in any event be held liable or accountable out of his personal assets or be deprived of compensation by reason of any action taken, suffered or. omitted in good faith or be so liable or accountable for more money or other property than he actually receives, or for allowing one or more of the other Trustees to have possession of the Trust books or property, or be so liable, accountable or deprived by reason of honest errors of judgement or mistakes of fact or law or by reason of the existence of any personal or adverse interest or by reason of any thing except his own personal and willful malfeasance and defaults. 4 Section 6 . No Trustee shall be disqualified by his office from contracting or dealing with the Trustees or with one or more lot owners (whether directly or indirectly because of his interest individually or the Trustee ' s interest or any lot owners' s interest in any corporation, firm, trust or other organization connected with such con- tracting or dealing or because of any other reason) , as vendor, purchaser, or otherwise, nor shall any such dealing , contract or arrangement entered into in respect to this Trust in which any Trustee shall be in any way interested be avoided nor shall any Trustee so dealing or contracting or being so interested be liable to account for any profit realized by any such dealing, contract or arrangement by reason of such Trustee ' s holding office or of the fiduciary relationship hereby established, provided the Trustee shall act in good faith and shall disclose the nature of his interest before the dealing, contract, or arrangement is entered into . Section 7 . The Trustees and each of them shall be entitled to indemnity both out of the trust property and by the lot owners against any liability incurred by them or any of them in the execution hereof, including without limitation liabilities in contract and in tort and liabilities for damages, penalties and fines. Each lot owner shall be personally liable for all sums lawfully assessed for his share of the common expenses of the Condominium and for his proportionate share of any claims involving the trust property in excess thereof. Nothing contained in this paragraph shall be deemed to limit in any respect the powers granted to the Trustees in this instrument. Section 8 . The Trustees shall elect from their number at the annual meeting of the Trustees, a chairman, treasurer, and secretary, who shall have such duties as are determined by the Trustees . Section 9 . The compensation of the Trustees shall be determined at each annual meeting of lot owners, except for the original Trustee, who agrees to serve without compen- sation. ARTICLE IV Beneficiaries And The Beneficial Interest In The Trust Section 1. The beneficiaries shall be the lot owners of Hyannis Village, as shown on said plan. 5 1__ c The beneficial interest of the Trust hereunder shall be divided among the lot owners in the percentage of undivided beneficial interest as set forth in Exhibit "A which is attached hereto and incorporated herein by reference. The beneficiaries or lot owners shall collectively be known sometimes as the organization of owners. Section 2. The beneficial interest of each lot shall be held and exercised as a unit and shall not be divided among several owners of any such lot. To that end, whenever any of said lots are owned of record by more than one person, the several owners of such lot shall ine and designate which one of such owners shall betauthorized and entitled to cast votes, execute instruments and otherwise exercise the rights appertaining to such lot hereunder, and (b) notify the Trustees of such designation by a notice in writing signed by all of the record owners of such lot. Any such designation shall take effect upon receipt by the Trustees of such notice and may be changed at any time from time to time by notice as aforesaid . In the absence of any such notice or designation, the Trustees may, by a majority vote, designate any one such owner for such purposes. ARTICLE V By-Laws The provisions of this Article V shall By Laws of this Trust and the organization of lotconstitute established hereby, to wit: Section 1. Powers Of The Trustees The Trustees shall have the powers and duties necessary for the administration of the affairs of the organization of owners and may do all such acts and things except as by law or by this Trust may not be delegated to the Trustees by the lot owners. Such powers and duties of the Trustees shall include, but shall not be limited to, the following: (i) To retain the trust property, or any part or parts thereof, in the same form or forms of investment in which received or acquired by them so far and so long as they shall think fit, without liability for any loss resulting therefrom; (ii) To manage and control the areas designated "0 en Space" on said plan of land; p 6 ( iii) To purchase or otherwise acquire title to, and to rent, lease or hire from others for terms which may extend beyond the termination of this Trust any property or rights to property, real or personal , and to own, manage, use and hold such property and such rights; ( iv) To borrow money on behalf of the organization of owners when required in connection with the operation, care, upkeep and maintenance of the common elements, provided, however, that A . The consent of at least seventy-five ( 75%) percent in number and in common interest of all lot owners, obtained at a meeting duly called and held for such purpose in accord- ance with the provisions of these By-Laws, shall be required for the borrowing of any sum in excess of One Thousand Dollars ( $1,000. 00) ; and B . No lien to secure repayment of any sum borrowed may be created on any lot or its appurtenant interest in the common elements without the consent of the lot owner. If any sum borrowed by the Trustees on behalf of the organization of owners pursuant to the authority contained in this Sub- section is not repaid by the Trustees, a lot owner who pays to the creditor such proportion thereof as his interest in the common elements bears to the interest of all the lot owners in the common elements shall be entitled `to obtain from the creditor a release of any judgment or other lien which said creditor shall have filed or shall have the right to file against the lot owner' s lot. (v) To enter into any arrangement for the use or occupation of the trust property, or any part or parts thereto, including, without thereby limiting the generality of the foregoing, leases, subleases, easements, licenses or concessions, upon such terms and conditions and with such stipulations and agreements as they shall deem desirable, even if the same extend, beyond the possible duration of this Trust; (vi ) To invest and reinvest the trust property, or any part or parts thereof, and from time to time and as often as they shall see fit to change investments, including power to invest in all types of securities and other property, of whatsoever nature and however denominated, all to such extent as to them shall seem proper, and without liability for loss, even though such property or such investments shall be of a character or in an amount not customarily considered proper for the investment of trust funds or which does or may not produce income; 7 (vii) To obtain and maintain such casualty and liability insurance on and with respect to the trust property as hereinafter provided in Section 3 . (viii) To incur such liabilities, obligations and expenses, and to pay from the principal or the income of the trust property in their hands all such sums as they shall deem necessary or proper for the furtherance of the purposes of the Trust; ( ix) To determine as to all sums of money and other things of value received by them, whether and to what extent the same shall be deemed to be and shall be accounted for as principal or income, and as to all charges or expenses paid by them; whether and to what extent the same shall be charged against principal or against income, including without hereby limiting the generality of the foregoing, power to apportion any receipt or expense between principal and income, and power to determine what portion, if any, of the actual income received upon any asset purchased or acquired at a premium or any wasting investment shall be added to principal to prevent a diminution thereof upon the maturity or exhaustion of such asset or investment; (x) To vote in such a manner as they shall think fit any or all shares in any corporation or trust 'which shall be comprised in the trust property, and for that purpose to give proxies, to any person or persons or to one or more of their number, to vote, waive any notice or otherwise actin respect of any such shares; (xi) To guarantee performance of the obligations of others in any case where they shall deem that it is to the advantage of this Trust that they give such guaranty; (xii) To maintain such offices and other places of business as they shall deem necessary or proper and to engage in business in Massachusetts or elsewhere; (xiii) To employ, appoint and remove such agents, managers, officers, board of managers, brokers, employees, servants, assistants and counsel (which counsel may be a firm of which one or more of the Trustees are members ) as they shall deem proper, for the purchase, sale or management of the trust property or any part or parts thereof, or for conducting the business of the Trust and may define 'their respective duties and fix and pay their compensation subject to the provisions of Article X hereof and the Trustees shall not be answerable for the acts and defaults of any such person. The Trustees may delegate to any such agent, manager, officer, board, broker, employee, servant, assistant or 8 counsel any or all of their powers, ( including discretionary powers, except that the power to join in amending, altering , adding to, terminating or changing the Declaration of Trust and the Trust hereby created shall not be delegated) all for such times and purposes as they shall deem proper. Without hereby limiting the generality of the foregoing, the Trustees shall at least as often as annually, designate from their number a chairman, a treasurer, a secretary, and such other Officers as they deem fit, and may from time to time designate one or more of their own number to be the Managing Trustee or Managing Trustees, for the management and administration or the trust property and the business of the trust, or any part or parts thereof; and (xiv) To deposit any funds of the trust in any bank or trust company, and delegate to any one or more of their members, or to any other person or persons, the power to deposit, withdraw and draw check on any funds of the trust; (xv) Generally, in all matters not herein otherwise specified, to control , manage and dispose of the trust property as if the Trustees were the absolute owners thereof and to do any and all acts, including the execution of any instruments, which their performance thereof shall be shown to be in their judgment for the best interests of the lot owners. Section 2. Common Expenses, Profits And Funds A. The lot owners shall be liable for common expenses and entitled to common profits of the organization of owners in proportion to their respective percentages of undivided � interest as set forth in Exhibit A hereof. The Trustees may at any time or times distribute common profits among the lot owners in such proportions. The Trustees shall , to such extent as they deem advisable, set aside common funds of the organization of owners as reserve or contingent funds, maintained out of regular assessments for common expenses, and may use the funds so set aside for reduction of indebted- ness or other lawful capital purpose, or, subject to provi- sions of the following Section 4, for repair, rebuilding or restoration of the trust property or for improvements thereto, and the funds so set aside shall not be deemed to be common profits available for distribution. Organization of owners dues or charges shall include an adequate reserve fund for maintenance, repairs and replacement of those common facili- ties that must be replaced on a periodic basis and shall be payable in regular installments rather than by special assessment. 9 Additionally, a working capital fund may be established for the initial months of the operation of the Trust equal to two ( 2) months' estimated common area charge for each lot. Each lots 's share of the working capital fund may be collected and transferred to the Trustees as agents for the organization of owners at the time of closing of the 'sale of each lot and maintained in a segregated account for the use and benefit of the organization of owners. The purpose of the fund is to insure that the Trustees will have cash available to meet unforseen expenditures, or to acquire additional equipment or services deemed necessary or desir- able by the Trustees. Amounts paid into the fund are not to be considered as advance payment of regular assessments. B. At least thirty ( 30) days prior to the commencement of each fiscal year of this Trust, the Board of Trustees shall estimate the common expenses expected to be incurred during such fiscal year together with a reasonable provision for contingencies and reserves, and after taking into account any undistributed common profits from prior years, shall determine the assessment to be made for such fiscal year. The Trustees shall promptly render statements to the lot owners for their respective shares of such assessment, and each lot owner thereafter shall pay one-twelfth ( 1/12) of his share of the estimated common expenses monthly in ad on the first day of each month. In the event that the vance Trustees shall determine during any fiscal year that the assessment so made is less than the common expenses actually incurred, or in the reasonable opinion of the Trustees likely to be incurred and at the time a new phase is added to the organization of owners, the Trustees shall make a supplemental assessment or assessments and render statements therefor in the manner aforesaid, and such statements shall be payable and take effect as aforesaid. The Trustees may in their sole discretion provide for payments of statements in monthly or other installments. In order to create a reserve fund for future contingencies, the Trustees shall assess from time to time, in addition to the foregoing assessments, each lot owner for a sum or sums sufficient to provide the trust with sufficient capital to meet emergencies and other contingencies. The Trustees may assess interest at the rate of ten ( 10%) percent per annum on the amount due, if it is not paid by the loth day of each month for each month that the amount due remains unpaid. The amounts due hereunder, together with the late charges, shall con- stitute a lien on the lot of the lot owner assessed, in the same manner as that of a unit in a condominium pursuant to the provisions of Section 6 of Chapter 183A. In any event, all lots shall be allocated their full assessments for common area expenses no later than sixty ( 60) days after the deed of the first lot sold is recorded . 10 I i I Each lot owner, by acceptance of a Deed, agrees to pay all costs and expenses, including reasonable attorneys' fees, incurred by the Trustees in collection of said assess- ments for common expenses, delinquent fees, charges, penalties and interest charged to a delinquent owner and in the enforce- ment of said lien. The right of a delinquent owner to vote, to use recreational facilities, and to serve on the Board of Trustees or any committees established by the Board shall be suspended until such delinquent assessments have been paid or unless relief is granted by special resolution of the Trustees . In the event of a default by any lot owner in the payment of his share of the common charges, the Trustees may seek to recover such common charges, interest and expenses by an action to recover the same brought against such lot owner, or by foreclosure of the lien on such lot in the same manner as that of a unit as provided in Section 6 of Chapter 183A of the Massachusetts General Laws or in any other manner permitted by law. In any action brought by the Trustees to foreclose a lien on a lot because of unpaid common charges, the lot owner shall , to the extent permitted by law, be required to _pay the costs and expenses of such proceedings and reasonable ' attorneys' fees. A suit to recover a money judgment for unpaid common charges shall be maintainable without foreclosing or waiving the lien securing the same. C. The Trustees shall expend common funds only for common expenses and other lawful purposes permitted hereby. Section 3. Insurance A. The Trustees shall review insurance coverage at least annually in order to ascertain the adequacy of such coverage . B. The Trustees shall determine the size of any deductible and shall determine the responsibility for funding the deductible in a fair and equitable manner as to each loss. C. The Trustees shall obtain and maintain to the extent obtainable and permitted by applicable law, a multi- peril all-risk type insurance policy, including fire and extended coverage and all other coverage in the kinds and amounts commonly required by private institutional mortgage 11 investors for projects similar in construction, location and use, insuring the organization of owners, including without limitation, Open Space and facilities, all of the units with all fixtures, additions, alterations and improvements thereof, but not including any furniture, , furnishings, household and personal property belonging to and owned by individual lot owners, in an amount not less than One Hundred percent ( 100%) of the insurable value thereof (based upon replacement cost) as determined by the Trustees at least annually, such insurance to name the Trustees as Insurance Trustees for use and benefit of all lot owners, with loss payable to and adjusted by the Trustees as Insurance Trustees in accordance with the provisions of these by-laws. D. Such policy shall contain the standard mortgage clause commonly accepted by private institutional mortgage investors in the area in which the organization of owners is located, which shall be endorsed to` provide that any proceeds shall be paid to the Trustees for the use and benefit of mortgagees as their interests may appear. E. If the organization of owners is determined to be located in an area identified by the Secretary of Housing and Urban Development as an area having special flood hazards, a "blanket" policy of flood insurance on the organization of owners shall be maintained in the amount of One Hundred percent ( 100%) of current replacement cost of the lots and common elements comprising the organization of owners or the maximum limit of coverage available under the National Flood Insurance Act of 1968, as amended, whichever is less . F . Policies for such casualty insurance shall provide: (i) that the insurer waives any right of subrogation against the Trust, the Trustees, their agents and employees, lot owners, their respective employees, agents, tenants, and guests; (ii) that the insurance shall not be prejudiced by any act or neglect of any lot owner or occupants or any other person or firm (including employees and agents of Trustees of the Trust) when such act or neglect is not within the control of the Trustees and the Trust or lot owners collectively or by failure of the Trustees and the Trust or lot owners collectively to comply with any warranty or condition with regard to any portion of the premises over which the Trustees and the Trust or lot owners collectively have no control; (iii ) that such policies may not be cancelled or reduced without at least thirty ( 30) days prior written notice to the insurance trustees, all lot owners, and the first mortgagees of the lots; (iv) that the insurer shall not be entitled to contribution as against any insurance obtained by individual lot owners covering their own lots; (v) if available, that the insurer shall waive any right it 12 may have under the policy to repair or restore damage should the lot owners elect to terminate the organization of owners because of such damage; (vi ) that, notwithstanding any provisions hereof which give the insurer the right to elect to restore damage in lieu of making a cash settlement, such election may not be exercisable without the approval of the Trustees and may not be exercisable if in conflict with the terms of said Chapter 183A, the Trust, or these by-laws; and (vii) for waivers of any defense based upon the conduct of any insured and (viii) for recognition of any insurance trust agreement. G. Certificates of insurance, with proper mortgagee endorsements, when requested, shall be issued to the owners of each lot. H. Each lot owner shall have the duty to promptly report to the Trustees any improvements made by the lot owner to his lot so that the Trustees may obtain necessary additional insurance coverage as required by the by-laws, and the lot owner shall pay the cost of the additional insurance, if any, resulting from said improvements. If in the event of a casualty loss, the cost of repair and restora- tion of the organization of owners exceeds the available insurance proceeds and such excess is the result of a lack of insurance coverage caused by the failure of a lot owner to notify the Trustees of improvements made by him to his lot, as provided in the preceding sentence, the excess cost resulting from such failure shall be borne solely by the lot owners so failing to report the same. The extent to which the cost in excess of insurance proceeds is attributable to a lot owner failing to report improvements as aforesaid shall be determined by the Trustees. I. The Trustee or Trustees hereunder designated as insurance Trustee or Trustees as aforesaid shall collect and receive all casualty loss insurance proceeds and shall hold, use, apply and disburse the same in accordance with applicable provisions of this . Article . J . With respect to losses which affect portions or elements covered by such insurance of a lot, or of more than one lot to substantially the same or to different extents, the proceeds relating thereto shall be used, applied and disbursed by the Trustees in a fair and equitable manner. K. The Trustees shall obtain and maintain, to the extent obtainable and permitted by applicable law, a compre-hensive policy of public liability insurance in such limits as the Trustees may, from time to time determine, but at least in the amount of One Millon Dollars ( $1, 000, 000 . 00) 13 r per occurrence for personal injury and/or property damage covering the Trust, each Trustee and each lot owner with respect to liability arising out of ownership, maintenance or repair of the Open Space and facilities of the organiza- tion of owners, such insurance to provide for cross claims by the co-insureds. Such insurance policy shall contain a "severability of interest" endorsement which shall preclude the insurer from denying the claim of a lot owner because of negligent acts of the Trustees or other lot owners. Coverage shall include, without limitation, legal liability of the insureds for property damage, bodily injuries and deaths of persons in connection with the operation, maintenance or use of the Common Elements and legal liability arising out of law suits related to employment contracts of the Trustees . L. The scope of coverage shall include all other coverage in the kinds and amounts required by private insti- tutional mortgage investors for projects similar in construc- tion, location and use. Such policies must provide that they may not be substantially modified or cancelled by any party without at least thirty ( 30) days prior written notice to the Trustees and each first mortgagee listed as such in the insurance policy. M. The Trustees shall also obtain and maintain to the extent obtainable and permitted by applicable law, workmens compensation and employees' liability with respect to any manager, agent, or employee of the Trust, but excluding any independent agent or manager, and such other risks as the Trustees in their discretion deem it appropriate to insure . All such insurance shall be in such amounts and forms as the Trustees shall in their discretion deem appropriate, and shall insofar as practicable, contain provisions as above set forth with respect to noncancellation, waiver of subro- gation, waiver of defense based on conduct of any insured, and noncontribution. N. The cost of all insurance obtained and maintained by the Trustees pursuant to provison of this article shall be a common expense. Section 4 Rebuilding And Restoration, Improvements A. In the event of any casualty loss to the trust property, the Trustees shall determine in their reasonable discretion whether or not such loss exceeds the ten ( 10%) percent of the value of the organization of owners immediately prior to the casualty, and shall notify all lot owners of such determination. If such loss as so determined does not exceed ten ( 10%) percent of such value, the 14 Trustees shall °proceed, without notice to the lot owners, with the necessary repairs, rebuilding or restoration. If such loss as so determined does exceed ten ( 10%) percent of such value prior to the casualty, and : ( i) If seventy-five percent ( 75%) in interest of the lot owners do not agree within one hundred twenty ( 120) days after the date of the casualty to proceed with repair or restoration, the organization of owners, including all lots, shall be subject to partition at the suit of any lot owner. Such suit shall be subject to dismissal at any time prior to the entry of an order to sell if an appropriate agreement to rebuild is filed. The net proceeds of a parti- tion sale, together with my common funds including the proceeds of any insurance, shall be divided in proportion to the lot owner' s respective undivided ownership in the Common Areas and facilities. Upon such sale, the organization of owners shall be deemed removed from the provisions of Chapter 183A of the Massachusetts General Laws. ( ii) If seventy-five percent ( 75%) in interest of the lot owners agree to proceed with the necessary repair or restoration, the cost of rebuilding the organization of owners, in excess of any available common funds including the proceeds of any insurance, shall be a common expense, provided, however that if such excess cost exceeds ten percent ( 10%) of the value of the organization of owners prior to the casualty, any lot owner who did not so agree may apply to the Superior Court of Barnstable County on such notice to the Trust as the Court shall direct, for an order directing the purchase of his lot by the Trust at the fair market value thereof as approved by the Court. The cost of any such purchase shall be a common expense B. A statement may be issued from the Trustees and signed by them setting forth the amount of unpaid common expenses which have been assessed against a lot owner and such statement shall operate to discharge the 'lot from any lien for any other sums then unpaid when recorded in the Barnstable County Registry of Deeds but shall not relieve the assessed owner from personal liability for payment. C. The Trustees as agents for the organization of owners shall represent the lot owners in any condemnation proceedings or in negotiations, settlements and agreements with the condemning authority for acquisition of the common areas and facilities, or part thereof. Each lot owner appoints the Trustee as attorney-in-fact for such purposes. D. In the event of a taking or acquisition of part or all of th;� Space and Facilities by a condemning 15 I I authority, the award or proceeds of settlement shall be payable to the Trustees for the use and benefit of the lot owners and their mortgagees as their interest may appear. Section 5. Rules, Regulations, Restrictions And . Requirements The Trustees have adopted the Rules and Regulations governing the details of the operation and use of the "Open Space" and containing such restrictions on and requirements respecting the use and maintenance of said Open Space areas as are consistent with the requirements of the Barnstable Planning Board and designed to prevent unreasonable inter- ference with the use by the lots owners of their lots and of the said Open Space areas and facilities thereon. By vote of a majority in number of the Trustees, the Trustees may at any time and from time to time amend, modify and rescind the' Rules and Regulations . Section 6 . Meetings A. The Trustees shall meet annually on the date of (and immediately following) the annual meeting of the lot owners and at such meeting shall elect the chairman, treasurer and secretary hereinbefore provided for. Other meetings may be called by the chairman and in such other manner as the Trustees may establish, provided, however , that written notice of each meeting stating the place, day and hour thereof shall be given at least four ( 4) days before such meeting to each member of the Trustees. A majority of the Trustees shall constitute a guorum at all meetings, and such meetings shall be conducted in accordance with such rules as the Trustees may adopt. B. There shall be an annual meeting of the lot owners on the 15th of July in each year at the organization of owners or at such other reasonable place and time as may be designated by the Trustees by notice given to the lot owners at least fourteen ( 14) days prior to the date so designated. Special meetings of the lot owners may be called at any time by the Trustees and shall be called by them upon the written request of the lot owners entitled to more than thirty-three ( 33%) percent of the beneficial interest hereunder. Written notice of any such meeting designating the place, day and hour thereof shall be given by the Trustees to the lot owners at least fourteen ( 14) days prior to the date so designated. At the annual meeting of the lot owners, the Trustees shall submit reports of the management and finances 16 I _ I of the organization of owners. Whenever at any meeting the Trustees propose to submit to the lot owners any matter with respect to which approval of or action by the lot owners is necessary or appropriate, the notice of such meeting shall so state and reasonably specify such matter. A quorum of lot owners shall consist of the holders of at least fifty- one percent ( 51%) of the beneficial interest hereunder. Section 7. Notices To Lot Owners Every notice to any lot owner required under the provisions hereof, or which may be deemed by the Trustees necessary or desirable in connection with the execution of trust created hereby or which may be ordered in any judicial proceeding, shall be deemed sufficient and binding if a written or printed copy of such notice shall be given by one or more of the Trustees to such lot owner by leaving such notice with him at an address supplied by him to the Trustees or by mailing it, postage prepaid , to said address at least fourteen ( 14) days prior to the date fixed for the happening of the matter, thing or event of which such notice is given. Lot owners may waive notice by duly executing an appropriate waiver of notice. Section 8 . Inspection of Books; Reports To Unit Owners Books, accounts and records of the Trustees shall be open to inspection to any one or more of the Trustees and the lot owners, lenders and holders, insurers or guarantors of any first mortgage at all reasonable times. The Trustees shall , as soon as reasonably possible after the close of each fiscal year, or more often, if convenient to them, submit to the lot owners a report of the operations of the Trustees for such year which shall include financial statements in such summary form and only in such detail as the Trustees shall deem proper._ Any person who has been furnished with such report and shall have failed to object thereto by notice in writing to the Trustees given by registered or certified mail within a period of one ( 1) month of the date of the receipt by him shall be deemed to have assented thereto. Any holder, insurer or guarantor of a` first mortgage shall be entitled, free of charge, upon written request, to an audited financial statement for the immediate preceding fiscal year furnished within a reasonable time following such request. 17 Section 9 . Checks, Notes, Drafts And Other Instruments Checks, notes , drafts and other instruments for the payment of money drawn or endorsed in the names of the Trustees or of the Trust may be signed by any two ( 2 ) Trustees , or by any person or persons (who may be one of the Trustees) to whom such power may at any time, or from time to time, be designated by not less than a majority of the Trustees. Section 10. Fiscal Year The fiscal year of the Trust shall be the year ending with the 31st day of July or such other date as may from time to time be determined by the Trustees. ARTICLE VI Rights And Obligations Of Third Parties Dealing With The Trustees Section 1. No purchaser, mortgagee, lender or other person dealing with the Trustees as the then appear of r Y PP record' in said Registry of Deeds shall be bound to ascertain or inquire further as to the persons who are then Trustees hereunder or be affected with any notice, implied or actual , otherwise than by a certificate thereof, and such record or certificate shall be conclusive evidence of the personnel of said Trustees and of any changes therein. The receipts of the Trustees or any one or more of them for monies or things paid or delivered to them or him shall be effectual discharges therefrom to the persons paying or delivering the same and no person from whom the Trustees or any one or more of them shall receive any money, property or other credit shall be required to see to the application thereof. No purchaser, mortgagee, lender or other person dealing with the Trustees or with any real or personal property which then is or formerly was trust property shall be bound to ascertain or inquire as to the existence or occurrence of any event or purpose in or for which a sale , mortgage, pledge or charge is herein authorized or directed, or other- wise as to the purpose or regularity of any of the acts of the Trustee or any or more of them purporting to be done in pursuance of any of the provisions or powers herein contained, or as to the regularity of the resignation or appointment of any Trustee, and any instrument of appoint- ment of a new Trustee or discharge of a Trustee purporting 18 to be executed by the Trustees, lot owners or other persons herein required to execute the same shall be conclusive evidence in favor of any such purchaser or other person dealing with the Trustees of the matters therein recited relating to such discharge, resignation or appointment or the occasion thereof. Section 2. No recourse shall at any time be had under or upon any note, bond, contract, order, instrument, certificate, under- taking, obligation, covenant or agreement, whether oral or written, made, issued or executed by the Trustees or by any agent or employee of the Trustees, or by reason of anything done or omitted to be done by or on behalf of them or any of them, against the Trustees individually, or against any such agent or employee, or against any beneficiary, either directly or indirectly, by legal or equitable proceedings, or by virtue of any suit or otherwise, and all persons extending credit to, contracting with or having any claim against the Trustees shall look only to the trust property for payment under such contract or claim, or for the payment of any debt, damage, judgment or decree, or of any money that may otherwise become due or payable to them from the Trustees, so that neither the Trustees nor the beneficiaries, present or future, shall be personally liable therefor; provided, however, that nothing herein contained shall be deemed to limit or impair the liability of Unit Owners under the provisions of Article III hereof or under provisions of said Chapter 183A. Section 3. Every note, bond, contract, order, instrument, certificate, undertaking, obligation, covenant or agreement, whether oral or written, made, issued or executed by the Trustees, or by any agent or employee of the Trustees, shall be deemed to have been entered into subject to the terms, conditions, provisions and restrictions hereof, whether or not express reference shall have been made to this instrument. Section 4. This Declaration of Trust and any amendments hereto and any certificate herein required to be recorded, and any other certificate or paper signed by said Trustees or any of them which it may be deemed desirable to record shall be recorded with said Registry of Deeds and such record shall 19 be deemed conclusive evidence of the contents and effective- ness thereof according to the tenor thereof; and all persons dealing in any manner whatsoever with the Trustees, the trust property, or any beneficiary hereunder, shall be held to have notice of any alteration or amendment of this Declaration of Trust, or change of Trustee or Trustees, when the same shall be recorded with said Registry of Deeds. Any certificate signed by the Trustees in office at the time, setting forth as facts any matters affecting the Trust, including statements as to who are the beneficiaries, as to what action has been taken by the beneficiaries, and as to matters determining the authority of the Trustees to do any act, when duly acknowledged and recorded with said Registry of Deeds, shall be conclusive evidence as to the existence of such alleged facts in favor of all third persons, including the Trustees, acting in reliance thereon. Any certificate executed by any Trustee hereunder, or by a majority of the Trustees hereunder, setting forth the exist- ence of any facts, the existence of which is necessary to authorize the execution of any instrument or the taking of any action by such Trustee or majority, as the case may be, shall , as to all persons acting in good faith in reliance thereon, be conclusive evidence of the truth of the state- ments made in such certificate and of the existence of the facts therein set forth. ARTICLE VII Amendments And Termination Section 1. Amendments. The Trustees may ( 1) at any time and from time to time, amend, alter, add to, or change this Declaration of Trust in any manner or to any extent with the consent in writing of lot owners entitled to no less than seventy-five ( 75%) percent of the beneficial interest hereunder or ( 2) amend this Declaration of Trust pursuant to the provisions of Section 2 . hereof, the Trustees first, however, in either case, being duly indemnified to their reasonable satisfaction against outstanding obligations and liabilities. Any amend- ment, alteration, addition or change pursuant to the foregoing provisions of this Section shall become effective upon the recording with said Barnstable County Registry of Deeds of an instrument of amendment, alteration, addition of change, as the case may be, signed, sealed and acknowledged in the manner required in Massachusetts for the acknowledgement of deeds, by any two Trustees, if there be at least two then in 20 office (or one Trustee if there be only one in office) , setting forth in full the amendment, alteration, addition or change and reciting the consent of the Unit Owners herein required to consent thereto. Such instrument, so executed and recorded, shall be conclusive evidence of the existence of all facts and of compliance with all prerequisites to the validity of such amendment, alteration, addition or change, whether stated in such instrument or not, upon all questions as to title or affecting the rights of third persons and for all other purposes. Any such amendments is subject to the provisions however that: A. No instrument of amendment which alters the dimen- sions of any lot or affects the use of a lot or the exclusive use of an Open Space reserved to a lot shall be of any force or effect unless the same has been signed by the owner of the lot affected; B . Except as provided in Section 2 hereof, no instru- ment of amendment which alters the percentage of the undivided interest to which any lot is entitled in the Open Space and facilities shall be of any force or effect unless the same has been signed by the owners of all the lots and said instrument is recorded as an Amended Organization of Owners Trust; C. No instrument of amendment affecting any lot in a manner which impairs the security of a first mortgage of record of which would disqualify it for sale to Federal Home Loan Mortgage Corporation or Federal National Mortgage Association under any law or regulation applicable thereto shall be of any force or effect unless the same has been assented to by the holder or holders thereof and no amendment which relates to matters described in Article X of this Trust and which has not been assented to by the appropriate percentage of the holders of first mortgages as described in said Article X, shall be of any force or effect; and Section 2. Condemnation. In the event that any of the lots or the Open Space and facilities of the organization of owners are affected by eminent domain proceedings, the following shall apply: A. If a lot is acquired by eminent domain, or if a part of a lot is acquired by eminent domain leaving the lot owner with a remnant which may not practically or lawfully be used for a singlefamily dwelling , the award shall compen- sate the lot owner for this lot and its undivided percentage interest in the Open Space and facilities whether or not any 21 of the Open Space and facilities have been acquired. Upon acquisition, unless the decree otherwise provides, that dot' s entire undivided interest in the Open Space and facili- ties and the beneficial interest under the Trust shall automatically be reallocated to the remaining lots of the organization of owners in proportion to the respective undivided interest of the remaining lots in the Open Space and facilities prior to the taking, and the Trustees shall promptly prepare, execute and record an amendment to the Trust reflecting the reallocations. Any remnant of a lot remaining after part of a lot is taken under this subsection, shall thereafter be a part of the Open Space and facilities . B. Except as provided in Subsection A. , if part of a lot is acquired by eminent domain, the award shall compensate the lot owner for the reduction in value of the lot and its undivided percentage interest in the Open Space and facilities . Upon acquisition, (1 ) that lot' s undivided interest in the Open Space and facilities shall be reduced on the basis of the reduction of the fair value of the remaining lots in the organization of owners as of such date, and ( 2) the reduction in interest in the Open Space and facilities of such lot shall be divested from the lot so acquired and shall auto- matically be reallocated to the remaining lots in proportion to the respective undivided interest of the remaining lots in the Open Space and facilities prior to the date of such taking . C. If the Open Space and facilities or any part thereof are acquired by eminent domain, the Trustees shall be the party in interest to receive any such award and to pursue any additional awards due to such taking. Any such award or any action taken by the Trustees pursuant hereto shall be brought or paid to the Trustees naming the "Trustees of Hyannis Village Trust as Condemnation Trustees for the benefit of the Hyannis Village, of the several lot owners and their respective mortgagees." The Trustees shall divide any portion of the award not used for restoration or repair of the remainingOpen Space and facilities among the lot owners in proportion to their respective undivided percentage interest before the taking but any portion of the award attributable to the acquisition of a portion of the Open Space and facilities which had been exclusively reserved to an lot Y pursuant to the terms of the Deed shall be paid to the owner of such lot. Section 3. The Trust hereby created shall terminate only upon the removal of the development from the provisions of th e O Space en p Residential Development Bylaw in accordance with the 22 III SK PAC L a,j c ��� �p � �Lp H✓ Q� 'b4 �., 170&n' I AV N fE P►'G QUflQuEt" 8 Is 300 6g ? h 60039.21»N 4v �y s - I Q• .A U Y- JOB Z _ 0�o 4 ` W yr�'�DS 103' 13•N ! - SCALE s 58 2 ! LOCATIOM NEAP � I 9 N �• �Q m I 107 o / 110 \ o N4. 1 45 ra i \ A — 1 z jZ \ �0 �� BENCH MARK USED: 110C ELEV. = 75.68 N.G.V.D. ZONE RC-1 DRIV �s-'�.�. SETBACKS: (OPEN SPACE) \ N a FRONT 20' � SIDE 7.5' 103 REAR 7 . 51 2 ST� � ` OF l/3 Qj y�/ �•RaME � ����N M�csnc R. T�YL RY \ / ` GR � t 1 \ T.O.F. EL-67.00 r ¢ a I , ( The BSC Group-Cape Cod Inc 90 3236 Main Street Route 6A n I \ Barnstable Village MA 02630 / 617 362 8133 115 tiff PROPOSED SEWER i / ! 160. 13 -- CONNECTION I - S 71 *43'49'M -T- OPEN - SPACE 82 l CLUBHOUSE LOT .. \ BARNSTABLE (N,4AMMIS) M A. 1 CONSTRUCTION NOTES � 1 I. ALL UNDERGROUND UTILITIES SHOWN WERE COMPILED ACCORDING TO AVAILABLE CAPRICORN REAL.T� -TRVS-F RECORD PLANS FROM THE VARIOUS UTILITY ` COMPANIES AND PUBLIC AGENCIES AND ARE APPROXIMATE ONLY. ACTUAL LOCATIONS MUST BE DETERMINED IN THE i FIELD. THE . CONTRACTOR MUST NOTIFY UTILITY COMPANIES 72 HOURS IN ADVANCE SCALE =- 40 OF 'CONSTRUCTION. THIS MAYBE DONE BY CONTACTING THE DIG - SAFE CENTER METERS. `1 ( 1 - 800 -.322 4844) FEET O 20 4o too so too i' 2. ALL WORK AND MATERIALS SHALL CONFORM TO THE TOWN OF BARNSTABLE DEPT. OF PUBLIC WORKS CONSTRUCTION SPECIFICATIONS AND STANDARDS . DATE- APRIL [n'� 1988 COMP./DESIGN: `s:At,J. 3. PRIOR TO START OF CONSTRUCTION 1 HE CONTRACTOR MUST OBTAIN FROM THE TOWN OF BARNSTABLE A SEWER TIE IN PERMIT AND A ROAD OPENING PERMIT. CHECK: C.FLO. _ DRAWN= T. A.W. FIELD- FOR SEWER MAIN DETAIL, SEE PLANS BY KALKUNTE ENGINEERING FILE NO: ii CORPORATION, l VIOLET CIRCLE, SHARON, MASS . DWG. 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