PLAZA CONDOMINIUM DOCS
The undersigned(s) being a purchaser of a residential unit is the Plaza, a Condominium, hereby
acknowledges receipt from TGA Development, Inc., the Seller of such unit, the following
documents required to be furnished to the undersigned pursuant to the undersigned’s Purchase
Agreement and specifically the paragraph entitled “Condominium Disclosure/Rights to
Rescind”:
1. The name and principal address of the Declarant and the name and address of the
condominium.
2. A general description of the condominium.
3. Declaration of Easements affecting and benefiting The Plaza, a Condominium, and
Commerce at The Plaza, a Condominium.
4. Declaration of Condominium for The Plaza, a Condominium, with the following
attachments:
a. A legal description of the parcel of real estate in which The Plaza is located
(Exhibit A to the Declaration).
b. Plat of survey of the real estate, a parcel of which is The Plaza and floor plans
of the building and the units including floor plans of The Commerce at The
Plaza, a Commercial Condominium, which floor plans are included with the
sole intention of showing easement areas for the benefit of The Plaza and for
illustrative purposes only (Exhibit B to the Declaration).
c. A list of units and allocation of undivided interest in the common elements,
Common expenses and votes in the Association (Exhibit C to the
Declaration).
d. Legal description of the parcel of real estate to be submitted for The
Commerce at The Plaza, a Commercial Condominium (which is shown
for reference purposes only), (Exhibit D to the Declaration).
e. Articles of Incorporation of The Plaza Condominium Association (Exhibit E
to the Declaration).
f. Bylaws of The Plaza Condominium Association (Exhibit F to the
Declaration).
5. Statement Concerning Skywalk Agreement.
6. Garage Unit Assignment.
7. The Plaza Condominium Association Proposed Annual Operating Budget year ending
February 28, 1986 and Calculation of Assessments to Unit Owners.
8. Initial rules and regulations promulgated by the Declarant.
9. A description of the insurance to be provided for the benefit of unit owners.
Dated this _____ day of _______________, 19 ____ at Des Moines, Iowa.
Unit No.(s) ______________
______________________________
Purchaser
______________________________
Purchaser
DISCLOSURE MATERIALS INCLUDED FOR THE PLAZA, A CONDOMINIUM:
1. The name and principal address of the Declarant and the name and address of the
Condominium.
2. A general description of the condominium.
3. Declaration of Easements affecting and benefiting The Plaza, a Condominium, and
Commerce at The Plaza, a Condominium.
4. Declaration of Condominium for The Plaza, a Condominium, with the following
Attachments:
a.
b.
c.
d.
e.
f.
A legal description of the parcel of real estate in which The Plaza is
located (Exhibit A to the Declaration).
Plat of survey of the real estate, a parcel of which is The Plaza and floor
plans of the building and the units including floor plans of The Commerce
at The Plaza, a Commercial Condominium, which floor plans are included
with the sole intention of showing easement areas for the benefit of The
Plaza and for illustrative purposes only (Exhibit B to the Declaration).
A list of units and allocation of undivided interest in the common
elements, common expenses and votes in the Association (Exhibit C to the
Declaration).
Legal description of the parcel of real estate to be submitted for The
Commerce at The Plaza, a Commercial Condominium (which is shown for
reference purposes only), (Exhibit D to the Declaration).
Articles of Incorporation of The Plaza Condominium Association
(Exhibit E to the Declaration).
Bylaws of The Plaza Condominium Association (Exhibit F to the
Declaration).
5. Statement Concerning Skywalk Agreement.
6. Garage Unit Assignment.
7. The Plaza Condominium Association Proposed Annual Operating Budget year ending
February 28, 1986 and Calculation of Assessments to Unit Owners.
8. Initial rules and regulations promulgated by the Declarant.
9. A description of the insurance to be provided for the benefit of unit owners.
1. THE NAME AND PRINCIPAL ADDRESS OF THE DECLARANT AND THE
NAME AND ADDRESS OF THE CONDOMINIUM.
The name and principal address of the Declarant:
TGA Development, Inc.
151 East County Road B-2
St. Paul, MN 55117
The name and address of the Condominium Regime:
The PLAZA, a Condominium
300 Walnut Street
Des Moines, IA 50309
2. A GENERAL DESCRIPTION OF THE CONDOMINIUM.
The structure consists of a 2 level parking garage below grade, 2 levels of commercial
at the ground and skywalk levels and 23 levels of residential condominium apartments
above. It is the 2 levels of parking garage and the residential condominium apartments
above which comprise the PLAZA.
There are two types of units within the PLAZA: garage units and residential units.
There are 258 garage units. There are a maximum of 227 residential units on the upper
23 levels.
The recreational facilities for the residential apartments are on the third floor and
consist of an equipped exercise room, sauna, whirlpool and a furnished lounge leading
out onto the rooftop plaza, outdoor swimming pool and 2 rooftop tennis courts. The main
entry is on the north side of the ground level.
The PLAZA enjoys easements in Commerce at the PLAZA for the use and
maintenance of entrances, lobbies, lounges, elevator shafts, stairways, utilities, and others
as spelled out in the Declaration of Easements.
Some of the mechanical equipment supporting both The PLAZA and Commerce at
The PLAZA, A condominium, enjoys easements for the use and maintenance of these
facilities, and others, as spelled out in the Declaration.
The commercial areas shall be used for commercial, restaurant, retail, office, or
professional purposes and uses incidental to these uses, and shall not be used for
manufacturing, industrial, hotel, or residential purposes.
3. DECLARATION OF EASEMENTS AFFECTING AND BENEFITTING THE
PLAZA, A CONDOMINIUM, AND COMMERCE AT THE PLAZA, A
CONDOMINIMUM.
DECLARATION OF EASEMENTS
THIS DECLARATION, made this _____ day of ____________________, 1984, by
TGA DEVELOPMENT, INC., a Minnesota Corporation, (“Declarant”);
WITNESSETH:
WHEREAS, Declarant is the owner of certain real estate (“Total Property”) situated in
the City of Des Moines, County of Polk, State of Iowa, legally described as follows, to-wit:
Lots One, Two, Ten, Eleven and Twelve and the vacated portion of the North/South
Alley adjacent to and between said Lots One and Two and said Lots Eleven and Twelve
and the vacated portion of the East/West Alley adjacent to and between said Lots Ten and
Eleven of Block 24, all in TOWN OF FORT DES MOINES, an Official Plat, all now
included in and forming a part of the City of Des Moines, Polk County, Iowa; and
WHEREAS, Declarant has constructed and there now exists upon and within the Total
Property a twenty-five (25) story building commonly known as 300 Walnut Street as to which
Declarant intends to create a residential condominium to include a maximum of 227 residential
apartments located in the 3rd through 25th floors including 258 garage units located in levels A
and B below grade and also a separate multi-unit commercial condominium within the first floor
(Ground Level) and the second floor (Skywalk Level); and
WHEREAS, in furtherance of such purpose, immediately following the filing of this
instrument, Declarant intends to file a Declaration for COMMERCE AT THE PLAZA, a
Condominium, together with Bylaws and Floor Plans creating a condominium exclusively for
commercial usage (the “Commercial Condominium “) as to the following described portion of
the Total Property, to-wit:
That part lying between elevations 34.00 feet and 63.00 feet (City of Des Moines Datum)
lying within the following described property:
Lots One, Two, Ten, Eleven and Twelve and the vacated portion of the
North/South Alley adjacent to and between said Lots One and Two and said Lots
Eleven and Twelve and the vacated portion of the East/West Alley adjacent to and
between said Lots Ten and Eleven of Block 24, all in TOWN OF FORT DES
MOINES, an Official Plat, all now included in and forming a part of the City of
Des Moines, Polk County, Iowa;
Together with that part lying between elevations 63.00 feet and 64.00 feet (City of Des
Moines Datum) and lying within the following described tract:
Commencing at the Northeasterly corner of said Lot 12, the point of beginning;
thence Westerly along the Northerly line of said Lot 12 a distance of 46.82 feet;
thence deflecting to the left, at an angle of 45 degrees 00 minutes 00 seconds,
122.10 feet; thence deflecting to the left, at right angles, 45.25 feet; thence
deflecting to the left, at an angle of 45 degrees 00 minutes 00 seconds, 123.88 feet
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to the Easterly line of said Lot 12, 43.99 feet to the point of beginning and there
terminating.
Subject to easements and restrictions of record, if any. And
Declarant intends to file a Declaration for THE PLAZA, a Condominium, together with
the Bylaws and Floor Plans creating a condominium exclusively for residential and garage usage
(the “Residential Condominium”) as to the following described portion of the Total Property, towit:
That part lying below elevation 34.00 feet (City of Des Moines Datum) together with that
part lying above elevation 63.00 feet (City of Des Moines Datum) and all lying within the
following described property:
Lots One, Two, Ten, Eleven and Twelve and the vacated portion of the
North/South alley adjacent to and between said Lots One and Two and said Lots
Eleven and Twelve and the vacated portion of the East/West Alley adjacent to and
between said Lots Ten and Eleven of Block 24, TOWN OF FORT DES
MOINES, an Official Plat, all now included in and forming a part of the City of
Des Moines, Polk County, Iowa
Excepting there from that part lying between elevations 63.00 feet and 64.00 feet (City of
Des Moines Datum) and lying within the following described tract:
Commencing at the Northeasterly corner of said Lot 12, the point of beginning;
thence Westerly along the Northerly line of said Lot 12 a distance of 46.82 feet;
thence deflecting to the left, at an angle of 45 degrees 00 minutes 00 seconds,
122.10 feet; thence deflecting to the left, at an angle of 45 degrees 00 minutes
00 seconds, 45.25 feet; thence deflecting to the left, at right angles, 45.25 feet;
thence deflecting to the left, at an angle of 45 degrees 00 minutes 00 seconds,
123.88 feet to the Easterly line of said Lot 12; thence Northerly along the Easterly
line of said Lot 12, 43.99 feet to the point of beginning and there terminating
subject to easements and restrictions of record, if any,
the filing of which instruments will subject the Total Property and the Commercial
Condominium and the Residential Condominium created therein to the provisions of Chapter
499B, Code of Iowa (the “Act”); and,
WHERERAS, Declarant has formed an Iowa non-profit corporation named the Plaza
Commercial Owners Association (“Commercial Association”) and an Iowa non-profit
corporation called The Plaza Condominium Association (“Residential Association”) for the
purposes of serving as the associations of owners for the administration, maintenance and
operation, respectively, of the Commercial Condominium and the Residential Condominium;
and,
WHEREAS, it is necessary and desirable that there be established perpetual easements in
the Residential Condominium for the benefit of the Owners and Occupants of the Commercial
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Condominium, such easements to be generally for support, utilities and access, all as more
specifically set forth herein and as shown on the respective Floor Plans to be filed with respect to
each condominium, and to establish covenants and restrictions relating to such easements which
are binding upon all Owners and Occupants of both the Commercial Condominium and the
Residential Condominium, so as to provide for the free and efficient use and maintenance of
such easements by the Owners and Occupants of the Commercial Condominium and the
Residential Condominium, respectively, and for the economic and efficient administration,
operation and maintenance of the respective common elements by the respective condominium
associations;
NOW, THEREFORE, the Declarant hereby declares that the Commercial Condominium
and the Residential Condominium shall be benefited by and be subject to, as the case may be, the
following easements, rights, covenants and restrictions which shall be perpetual, notwithstanding
any law to the contrary, shall run with the land, and shall inure to the benefit of and be binding
upon the Owners and Occupants of the Commercial Condominium and the Residential
Condominium and all portions thereof, including all Units and Common Elements, and of and
upon the Commercial Association and the Residential Association:
I.
DEFINITIONS. In addition to the words and phrases defined in the foregoing
recitals, the following words and phrases when used herein shall have the
following meanings, unless the context clearly indicates otherwise.
“Owner” means the person or persons, or entity or entities, including Declarant,
whose estates or interests, individually or collectively, aggregate fee simple
absolute ownership of a Unit, including a vendee under a contract for deed, in the
Residential Condominium or the Commercial Condominium.
A. “Building” is the structure located at 300 Walnut Street, within
the Commercial Condominium and the Residential
Condominium.
B. “Occupant” in the case of the Residential Condominium means
the Owner and members of the household of an Owner,
household employees, guests, invitees, tenants, agents,
licensees, contractors and other persons authorized by an
Owner of a residential Unit or the Residential Association to
enter upon any part of the Residential Condominium;
“Occupant” in the case of the Commercial Condominium
means an Owner’s employees, invitees, licensees, agents,
contractors, tenants, and other persons authorized by an Owner
of a commercial Unit or the Commercial Association to enter
upon any part of the Commercial Condominium.
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C. “Facilities” means and includes annunciators, antennae, boxes,
brackets, cabinets, cables, coils, computers, conduits, controls,
control centers, cooling towers, couplers, devices, ducts,
equipment (including, without being limited to heating,
ventilating, air conditioning and plumbing equipment), fans,
fixtures, generators, hangers, heat trunks, indicators, junctions,
lines, machines, meters, motors, outlets, panels, pipes, pumps,
radiators, risers, starters, switches, switchboards, systems,
tanks, transformers, valves, wiring and the like used in
providing services from time to time in any part of the
building, including, without being limited to, air conditioning,
alarm antenna, circulation, cleaning, communication, cooling,
electric, elevator, exhaust, heating, mechanical, natural gas,
plumbing, radio, recording, sanitary, security, sensing, sewer,
steam, telephone, television, transportation, trash removal,
utility, ventilation and water service.
D. “Unit” means a commercial unit or residential unit as
established in the respective condominium Declarations
pertaining to the Building.
E. “Common Elements” means those portions of the Residential
Condominium and Commercial Condominium which are not
Units.
F. “Pedestrian Concourse” means that part of the skywalk system
on the Skywalk Level of the Building as shown on the Floor
Plans.
II.
EASEMENTS IN COMMERCIAL CONDOMINIUM FOR
BENEFIT OF RESIDENTIAL CONDOMINIUM. There shall
exist in the Commercial Condominium for the benefit of
Residential Owners, Occupants and the Residential Association
and appurtenant to the Residential Condominium and all
Residential Units and Common Elements the following
easements as shown on the Floor Plans for the Commercial
Condominium:
A. Non-exclusive easements in and to all footings, columns, and
shear walls constructed within the Commercial Condominium
for the support of all structures, the normal contents of such
structures, and all Facilities located within or appurtenant to the
Residential Condominium.
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B. Non-exclusive easements for Facilities constructed within the
Commercial Condominium for the common use and benefit of
the Residential Condominium and Commercial Condominium,
and for exclusive use, maintenance, repair and replacement of
facilities constructed therein for the exclusive use of the
Residential Condominium.
C. An exclusive easement for the maintenance of encroachments
in the event that, by reason of construction of the Building or
the subsequent settlement or shifting of the Building, any part
of the Residential Units or Common Elements encroaches or
shall hereafter encroach upon any part of the Commercial
Condominium. Such easement for the maintenance of
encroachments shall exist only so long as all or any part of the
Building shall remain standing; provided, however, that in no
event shall an easement for any encroachment be created in
favor of the Residential Condominium if such encroachment
unreasonably interferes with the normal use and enjoyment of
the Commercial Owners and Occupants.
D. An non-exclusive easement for Facilities between elevation
43.83 feet and 49.33 feet except for Stair Nos. 1, 3, 4, 5, 6, 7
and 9 and except for Residential Condominium Elevator
Easement Area, Elevators, Mechanical Mezzanine Level and
Building Entrance Atrium, and for the exclusive use,
maintenance, repair and replacement of Facilities constructed
therein for the exclusive use of the Residential Condominium.
E. A non-exclusive easement through the entire Ground Level for
access to the Facilities, Mechanical Equipment Rooms,
Mechanical Equipment Areas and concrete slab above ground
level, reserved to the Residential Association and its
specifically authorized officers, employees, agents, and
contractors, as may be reasonably necessary from time to time
for the construction, installation, use, inspection, maintenance,
repair and replacement of the Facilities located within the
ground level.
F. A non-exclusive easement over the entire Skywak Level for
Facilities between elevation 59.5 feet and the upper boundary
of the Commercial Condominium, except for Stair Nos. 1, 4, 7
and 9 and except for Residential Condominium Elevator
Easement Area and for the exclusive use, maintenance, repair
and replacement of Facilities constructed therein for the
exclusive use of the Residential Condominium.
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G. A non-exclusive easement for access over the entire Skywalk
Level to Facilities, Mechanical Equipment Rooms, Mechanical
Equipment Areas and the concrete slab above the Skywalk
Level, reserved to the Residential Association and its
specifically authorized officers, employees, agents, and
contractors, as may be reasonably necessary from time to time
for the construction, installation, use, inspection, maintenance,
repair and replacement of the Facilities located within the
Skywalk Level.
H. A non-exclusive easement for access by virtue of all Ground
Level exterior sidewalks.
I. A non-exclusive easement for access through the Building
Entrance Atrium Easement Area and the Building Entrance
Atrium Roof Easement Area.
J. An exclusive easement for access through the Residential
Condominium Lobby Easement Area located on the Ground
Level.
K. An exclusive easement for access through the Residential
Condominium Lobby Easement Area located on the Skywalk
Level.
L. An exclusive easement for access and Facilities over and in the
Residential Condominium Elevator Easement Area in the
Ground Level and Skywalk Level.
M. A non-exclusive easement for the easement area designated as
Mechanical Equipment Areas 2, 3, 4, 5, 6 and 7.
N. An exclusive easement for pedestrian and vehicular access over
the Garage Entrance Drive Easement Area and over the Garage
Drive Ramp Easement Area.
O. An exclusive easement over that part of Stair No. 1 at Ground
Level and below, Stair No. 4, that part of Stair No. 5 at exit to
alley elevation and below, that part of Stair No. 7 at Ground
Level and below and Stair No. 9 together with an exclusive
easement for access for purpose of emergency exit to sidewalk
on Walnut Street adjacent to the Building Entrance Atrium
Easement Area by virtue of Stairway No. 9.
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P. A non-exclusive easement for access over that part of Stair No.
1 at Ground Level and above, that part of Stair No. 5 at exit to
alley elevation including landing and above, Stair No. 6, that
part of Stair No. 7 at Ground Level and above and Stair no. 8
together with non-exclusive easements for access for purposes
of exit from the building to the sidewalks adjacent 3rd Street,
4th Street, or the alley by virtue of Stair No. 1, 6, 8, and the exit
corridor at Stair No. 5. Further a non-exclusive easement is
reserved over the Exit Corridor Easement Area near Stair No. 4
to Loading Dock Facility Easement Area.
Q. A non-exclusive easement for use of Mechanical Equipment
Room 7 and Mechanical Equipment Room 8 together with a
non-exclusive easement for access thereto through Common
Elements on Ground Level.
R. A non-exclusive easement for use of mezzanine level together
with a non-exclusive easement for access thereto.
S. A non-exclusive easement for use and access over and in
Loading Dock Facility Easement Area, which easement area
includes but is not limited to Loading Dock, exit corridor and
interior corridors.
T. A non-exclusive easement for use of Mechanical Equipment
Areas 8, 9, 10, 11 and 12.
U. The easements described in paragraphs D and F above are nonexclusive, provided however, at such time as Facilities are
located therein, the area occupied by such Facilities shall be
exclusive for that Facility and shall remain exclusive so long as
the Facilities remain in place. Facilities located in the nonexclusive easement areas may be reasonably relocated at the
expense of and for the convenience of the respective
Association which desires such relocation.
III.
EASEMENTS IN RESIDENTIAL CONDOMINIUM FOR
BENEFIT OF COMMERCIAL CONDOMINIUM. There shall
exist in the Residential Condominium for the benefit of
Commercial Owners, Occupants and the Commercial
Association and appurtenant to the Commercial Condominium
and all Commercial Units and Common Elements the following
easements as shown on the Floor Plans for the Residential
Condominium:
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A. Non-exclusive easements in and to all footings, columns, and
shear walls within the Residential Condominium for the
support of all structures, the normal contents of such structures,
and all Facilities located within or appurtenant to the
Commercial Condominium.
B. Non-exclusive easements for Facilities, constructed within the
Residential Condominium for the common use and benefit of
the Commercial Condominium and Residential Condominium,
and for exclusive use, maintenance, repair and replacement of
Facilities constructed therein for the exclusive use of the
Commercial Condominium.
C. An exclusive easement for the maintenance of encroachments
in the event that, by reason of construction of the Building or
the subsequent settlement or shifting of the Building, any part
of the Commercial Units or Common Elements encroaches or
shall hereafter encroach upon any part of the Residential
Condominium. Such easement for the maintenance of
encroachments shall exist only so long as all or any part of the
Building shall remain standing; provided, however, that in no
event shall an easement for any encroachment be created in
favor of the Commercial Condominium if such encroachment
unreasonably interferes with the normal use and enjoyment of
the Residential Units or Common Elements by the Residential
Owners and Occupants.
D. A non-exclusive easement over the entire Garage Level B for
Facilities between 7.0 feet above Garage Level B floor slab and
the bottom surface of the concrete slab above except for Stair
Nos. 1, 5 and 7 and except for Commercial Condominium
Elevator Easement Area and elevators.
E. A non-exclusive easement over the entire Garage Level B for
access to Facilities, Mechanical Equipment Rooms,
Mechanical Equipment Areas and the concrete slab above
Garage Level B.
F. An exclusive easement over the Commercial Condominium
Lobby Easement Area and the Commercial Condominium
Elevator Easement Area and Elevator located therein.
G. A non-exclusive easement for use of Mechanical Equipment
Areas 1 and 2.
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H. A non-exclusive easement for Facilities over the entire Garage
Level A between 7.0 feet above Garage Level A floor slab and
the bottom surface of the concrete slab above,
I. A non-exclusive easement for Facilities over the entire Garage
Level A for access to the facilities, mechanical equipment
rooms, mechanical equipment areas and the concrete slab
above Garage Level A.
J. An exclusive easement for access for the Commercial
Condominium Lobby and Commercial Condominium Elevator
Easement Area and elevators located on Garage Level A.
K. An exclusive easement for use of Mechanical Equipment
Room 4.
L. A non-exclusive easement for use of Mechanical Equipment
Room 3 and for use of Mechanical Equipment Area 1.
M. The easements described in paragraphs D and H above are nonexclusive, provided however, at such time as Facilities are
located therein, the area occupied by such Facilities shall be
exclusive for that Facility and shall remain exclusive so long as
the Facilities remain in place. Facilities located in the nonexclusive easement areas may be reasonably relocated at the
expense of and for the convenience of the respective
Association which desires such relocation.
IV.
MAINTENANCE, OPERATION, DAMAGE, DESSTRCTION
AND STRUCTURAL SUPPORT.
A. The Residential Association, all occupants and owners of Units
thereof shall be responsible at their own cost for the removal of
all Facilities, amenities, personal property and improvements
located on the waterproof roof membrane in the exclusive
easement area for the benefit of the Commercial
Condominium. Removal of such property shall be
accomplished upon reasonable notice to the Residential
Association, its occupants and owners of Units. Failure to
remove such improvements, amenities and property within a
reasonable time shall entitle the Commercial Association, its
agents and contractors, to remove the same and be entitled to
reasonable reimbursement therefore from the Residential
Association.
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B. The Commercial Association and the Residential Association
and all Occupants and Owners of units in each condominium
shall maintain their respective units and common elements in
good condition and repair, shall maintain all Facilities
constructed for their respective exclusive use, and shall
maintain in good condition and repair all Facilities constructed
for common usage within their respective condominiums. At
any time that a Residential Association or a unit Owner or
Occupant must obtain access across, through or to any easement
area above specified, it shall employ every reasonable effort to
avoid damage or interference to other property and shall
promptly restore and repair any damage caused.
C. With respect to Facilities and easement areas which are for the
common service and benefit of both the Commercial
Condominium and the Residential Condominium, the
Association of the Condominium in which such Facilities and
easement areas are located shall have the obligation to perform
all normal maintenance and repair of such Facilities and
easement areas. In the event it becomes necessary to replace or
upgrade any such common Facilities, which shall be
determined from time to time solely by the Architect (herein
below defined), such replacement or upgrading shall be
performed by the Association of the Parcel in which such
Facilities are located, but the costs thereof shall be reasonably
allocated between the Commercial Association and the
Residential Association by the Architect, and the Association
which has performed the work shall be entitled to prompt
reimbursement from the other Association of its share of such
expenses as determined by the Architect.
D. If any portion of the Building is damaged, then such damage
shall be repaired and restored by the Association having
responsibility for the portion of the Building in which the
damage occurs. If any disrepair or damage adversely affects
the structural support of any other portion of the Building or
substantially and adversely affects the use and enjoyment of
any other portion of the Building, and if at any time the
Association having responsibility for the disrepaired or
damaged portion (herein called the “Defaulting Association”)
is not proceeding diligently with the work of repair and
restoration, then the other Association (herein called the
“Creditor Association”) may give written notice to the
Defaulting Association specifying the respect in which such
repair or restoration is not proceeding diligently. If, upon the
expiration of ten (10) days after the giving of such notice, the
work of repair or restoration is not proceeding diligently, then
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the Creditor Association may perform the repair and restoration
and may take all appropriate steps to complete the same. The
Creditor Association shall be entitled to reimbursement from
the Defaulting Association for all reasonable and necessary
costs and expenses incurred by Creditor Association therefore
and shall have a lien against any insurance proceeds payable
under any policy of insurance protecting against such damage to
secure repayment.
E. If for any reason the structural support for any portion of the
Building is reduced below the support required for the
structural safety of the balance of the Building, the Association
of the portion of the Building in which such reduction occurs
shall promptly provide substitute adequate structural support at
its own expense. The Architect shall determine, at the request
of either Association, the extent of the reduction and the
adequacy of the substitute support which shall be constructed
in accordance with plans and specifications prepared by the
Architect. The fees of the Architect shall be borne by the
Association of the portion of the Building in which such
reduction occurs.
F. In the event that the Architect determines that substitute
structural support is required in a portion of the Building in
which the structural support has been reduced and the
Association of such portion (herein called the “Defaulting
Association”) fails to commence the construction of such
substitute support within a reasonable time, as determined by
the Architect, or having commenced such construction fails to
proceed diligently to its completion, the Association of the
remaining portion of the Building (herein called the “Creditor
Association”) shall have the right to complete the construction
of the substitute support at the expense of the Defaulting
Association, and all reasonable and necessary costs and
expenses incurred by Creditor Association therefore shall be
due from Defaulting Association on demand.
G. As used herein, “Architect” means the firm of architects
serving from time to time hereunder. The Stageberg Partners
of Minneapolis, Minnesota are hereby designated to serve as he
Architect hereunder. Hereafter either Association shall have
the right to remove the then designated Architect by giving
written notice of such removal to the other Association. A
successor Architect shall be appointed as follows: the
Association removing the Architect shall submit to the other
Association, the names of three (3) architectural firms
experienced in high-rise design; the other Association shall
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have the right to name the successor Architect from such list; if
such other Association fails to name a successor Architect
within sixty (60) days after receiving such list, the Association
removing the Architect shall thereafter have the right to name
the successor Architect from such list. The removal of the
Architect and the appointment of the successor Architect shall
be effective and the successor Architect shall succeed to the
duties and power of the Architect being removed upon
acceptance by the successor Architect of such appointment.
Any Architect designated hereunder shall have the right to
resign at any time on not less than thirty (30) days prior written
notice to both Associations. Successors to the resigning
Architect shall be selected as above provided as if the resigning
Architect had been removed by either Association.
The fees of Architects shall be reasonably allocated by the
Architects.
All work done pursuant to this Section VI shall be consistent
with and similar to the original construction except where
impracticable.
V.
OPERATIONS
A. The Commercial Association, the Residential Association, and
all Owners and Occupants shall comply with all laws, rules,
orders, ordinances, regulations and requirements now or
hereafter enacted or promulgated by the United States of
America, State of Iowa, County of Polk, City of Des Moines,
and any other governmental body or agency now or hereafter
having jurisdiction of the Condominiums, if non-compliance
with result in the imposition of a lien or fine against the
property of the Association, and shall comply with all rules,
regulations and requirements of any insurance rating bureau
having jurisdiction over the Building or any portion thereof, if
such non-compliance would increase the rate of premiums of
any policy of insurance maintained by the other Association.
B. The Commercial Association or the Residential Association
shall remove, within thirty (30) days after the filing thereof,
any mechanic’s, material men’s or any other similar lien
arising by reason of any work or materials ordered or any act
taken, suffered or omitted by such Association which might
adversely affect the property of the other Condominium. In the
event such Association (herein called the “Defaulting
Association”) fails to remove any such lien within the time
specified, the other Association (herein called the “Creditor
13
Association”) may take such action as Creditor Association may
deem necessary to remove such lien. Creditor Association shall be
entitled to reimbursement from Defaulting Association for all
expenses incurred by Creditor Association in attempting to remove
such lien. However, Defaulting Association shall not be required
to remove such lien within thirty (30) days after the filing thereof,
so long as Defaulting Association shall in good faith diligently
proceed to contest the same by appropriate proceedings and shall
give notice in writing to Creditor Association of its intention to
contest the validity of such lien and shall deliver to Creditor
Association either cash or a surety bond of a responsible surety
company acceptable to Creditor Association in an amount equal to
125% of the lien claim or other security acceptable to Creditor
Association.
C.
D.
The Commercial Association, the Residential Association and all
Owners and Occupants shall always exercise use of their
easements and rights hereunder reasonably and in good faith in
such manner as to cause the minimum of interference with the
quiet and peaceful use and enjoyment by other Owners and
Occupants of the Units and Common Elements adjoining such
easement areas, and in such manner as not to damage or impair
such Units and Common Elements.
The Commercial Association and the Residential Association shall
jointly procure the following services, and charges therefore shall
be shared between the Associations in the following proportions
(which shall be common expenses for each respective Association
under the Act):
Comm.
Res.
50%
50%
1. Exterior sweeping and shoveling of
sidewalks, garage entrance drive
and alley areas; maintenance, repair
and replacement of sidewalks, alley
areas and planters. (Residential
Condominium shall be responsible
For repair and replacement of the
Garage entrance drive).
2. Exterior maintenance of the brick
and stone veneer of the building
(including brick mortar and caulking
of expansion joints but excluding
maintenance of exterior glass and frames;
14
patio/balcony doors and frames; exterior
doors and frames; garage door and frame;
caulking of all frames; balconies;
balcony rails; and exterior commercial
or residential signs
30%
70%
3. Maintenance, repair and replacement
of the Building Entrance Atrium.
50%
50%
4. Operation, maintenance, repair and
replacement of the Loading Dock
Facilities
50%
50%
5. Operation, maintenance, repair and
replacement of the standby electric
generator servicing the entire
property
20%
80%
6. Operation, maintenance, repair and
replacement of common fire alarm
equipment
20%
80%
7. Operation, maintenance, repair and
replacement of common fire protection
mains and pumps
20%
80%
8. Operation, maintenance, repair and
replacement of common electrical
service equipment
20%
80%
9. Operation, maintenance, repair and
replacement of common water and
sewer facilities
20%
80%
10. Charges for sewer and water shall
be allocated in accordance with the
meter usage of water as follows:
total number of gallons entering the
Building shall be metered and the
number of gallons entering the
Commercial Condominium shall be
submetered; the Commercial share shall
be the percentage derived from the
fraction, the numerator of which is the
number of gallons of water entering the
Commercial Condominium and the
denominator of which is the total number
15
of gallons of water entering the Building and
thus the Residential Condominium share
shall be the corresponding percentage
necessary to equal 100%.
11. Operation, maintenance, repair and replacement of
common storm water facilities. (Common storm
water facilities. (Common storm water facilities
are those items which drain the 3rd floor roof
decks and alley and the connecting pipes to the
City facilities. Common storm water facilities
do not include the portion of the system which
serves the roof atop the Residential Condominium
Tower or the connecting piping from the roof to
Common mains on Skywalk Level).
50%
50%
12. Operation, maintenance, repair and replacement
Of the Skywalk Bridge Concourse. (Operation,
maintenance, repair and replacement of the Skywalk
Concourses within the Building shall be the
Responsibility of the Commercial Condominium).
50%
50%
13. Cost of additional construction or remodeling
of the Common Elements of the Building (if any)
for the acceptance of future Skywalk Bridge
Concourse(s) (if any).
50%
50%
In addition to the foregoing, whenever and wherever practical, the
Commercial Association and the Residential Association shall
cooperate in good faith in the joint procurement of other services,
utilities, insurance, maintenance, management, operations, and the
like, when such sharing would serve to promote uniformity and
economy for both condominiums. The cost of such common
expenditures shall be apportioned between the Associations in such
manner as they shall from time to time mutually agree when such
common services are contracted for. Except for any charges which
the common supplier invoices to each Association separately, the
Residential Association shall receive, process and pay all invoices
for common expenditures and shall promptly furnish to the
Commercial Association reasonably detailed written reports
thereof. Promptly upon receipt of such reports, the Commercial
Association reasonably detailed written reports thereof. Promptly
upon receipt of such reports, the Commercial Association shall pay
to the Residential Association its proportionate share of the
charges for such common expenditures in accordance with this
instrument.
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VI.
INSURANCE
A. The Commercial Association and the Residential Association:
(1) shall keep their respective Common Elements and Units
insured against loss or damage by fire, sprinkler and other
risks, casualties and hazards as might be insured from time
to time by prudent owners of first-class commercial and
multi-unit residential buildings in the City of Des Moines,
Iowa and as required by law. Such insurance shall include
interests in the exclusive and non-exclusive assessments;
(2) shall maintain Comprehensive General Liability Insurance
against claims for personal injury, death or property
damage occurring in or upon their respective Common
Elements. Such insurance shall be in amounts as may be
required by law and as might be carried from time to time
by prudent owners of first-class commercial or multi-unit
residential buildings in the City of Des Moines, Iowa, but
in all events to afford protection for limits of not less than
$1,000,000 for injury or death to persons and for property
damage; and,
(3) may combine the risks to be insured under this Section into
one or more joint policies with a division of premium as
may be acceptable to the participants.
B. Each policy described in this Section: (1) shall provide that the
acts of any insured party shall not invalidate the policy as
against any other insured party or otherwise adversely affect
the rights of any other insured party under this policy; (2) shall
name as insured parties all Owners of both condominiums and
the Associations as their interests may appear; and (3) shall be
endorsed with a clause which reads substantially as follows:
“This insurance shall not be invalidated should the insured
waive in writing prior to a loss any or all rights of recovery
against any party for loss occurring to the Property described
herein.”
C. Any separate coverage provided independently by either
Association may be included in a blanket policy covering other
property owned or controlled by such Association, provided
that the policy unconditionally provides the insurance coverage
required by this Section.
D. Copies of all policies of insurance shall be promptly delivered
by each Association to the other Association and renewal or
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replacement policies shall be delivered at least twenty (20)
days prior to the expiration of any policy. Each such policy
shall provide that: (1) it shall not be cancelable except after
thirty (30) days written notice to such other Association, and
(b) the right of subrogation against such other Association and
Owners in such other condominium, shall be waived by the
insurer.
E. Should an Association (herein called “Defaulting Association”)
fail to provide and maintain the policies of insurance as above
provided, then the other Association (herein called the
“Creditor Association”) may purchase such policy and the cost
thereof shall be due from the Defaulting Association on
demand, and shall be secured by a lien against any insurance
proceeds payable under such policies.
F. Each of the Associations and Owners shall be deemed to have
released each other and waived all claims against each other
Association and each Owner in such other condominium for
damages to their respective property, real and personal, arising
out of or resulting from fire or efforts to extinguish the same,
or arising out of or resulting from any other hazards against
which protection can be procured by standard fire and extended
coverage insurance as the same may be written from time to
time or which is covered by other insurance, whether or not
such damage from any of said causes is the result of negligent
acts or conduct on the part of anyone which, except for this
provision, would make any Association or Owner legally liable
to another Association or Owner for such damage. Each of the
Associations and Owners shall be deemed to have agreed to
look to their own insurance for protection against damage to
their respective properties arising out of the aforesaid hazards,
having waived all rights of subrogation excepting, however,
claims for vandalism, malicious mischief or other intentional
damage for which any person might be legally liable to another
person.
VII. DEBTS AND INTEREST. If at any time an Association (herein the
“Defaulting Association”) shall fail upon demand to pay the other
Association (herein the “Creditor Association”) any sum of money
due Creditor Association pursuant to the provisions of this
instrument, then in addition to any rights of subrogation Creditor
Association may have by operation of law, Creditor Association shall
have the right of setoff against any sums theretofore or thereafter
owing by Creditor Association to Defaulting Association and to
pursue any other remedy available at law or in equity, and the
18
prevailing party shall be entitled to recovery of its reasonable attorney’s
fees and expenses incurred therein.
Whenever an Association is obligated hereunder to pay a sum of money to the other
Association, interest shall accrue and be payable on such sum ten (10) days after the time
the sum first became due until paid, at the rate of ten percent (10%) per annum for the first
sixty (60) days and after the first sixty (60) days at the rate of twenty percent (20%) per
annum, or five (5) points over prime rate at Norwest Bank Des Moines, N.A., whichever is
the higher.
VIII.RESTRICTIONS. The Commercial Condominium and Residential Condominium,
Respectively, shall be subject to the following restrictions which shall constitute covenants
running with the land and binding upon Declarant, each Association and each Unit Owner,
their grantees, successors, heirs, representatives and assigns:
A.
No alterations will be made to the exterior of the Building which would affect the
appearance of the Building by the Commercial or Residential Association without
the written consent of the other Association.
B. Exterior signs shall be permitted, provided the same shall be architecturally
compatible with the Building exterior as shall be determined from time to time solely
by the Architect, and also in accordance with the guidelines as to size, lettering, color
and location all as provided for and regulated by the Declaration and related
documents for Commerce at the Plaza, a Condominium (the Commercial
Condominium).
C. Additional floors beyond the 25th floor shall not be added to the Residential
Condominium nor shall the gross floor area of any floor located in the Residential
Condominium be increased without the prior written consent of the Commercial
Association.
IX.
ARBITRATION. All questions, differences, disputes or controversies arising hereunder
(except those to be determined by the Architect) shall be settled by arbitration in
accordance with the then existing rules of the American Arbitration Association. Such
arbitration shall be conducted at the request of either Association before three arbitrators
(unless the Associations agree to one arbitrator) designated as follows: The Association
requesting the arbitration shall designate in writing, within fifteen (15) days of such
request, the name of an arbitrator who is a member of the American Arbitration
Association and knowledgeable in the issues being arbitrated, and the other Association
shall make a similar designation within the same period of time. Within twenty (20) days
after the designation as aforesaid, the two arbitrators shall select and designate a third
arbitrator. In the event the two arbitrators chosen are unable to agree upon a third
arbitrator, then he third arbitrator shall be designated by the Chief Judge of the Iowa
District Court of Polk County as soon thereafter as possible. The arbitrators designated
and acting under this Agreement shall make their award in strict conformity with the
Association’s rules and shall have no power to depart from or change any of the
19
provisions thereof. Any such award shall b binding upon the Associations and
enforceable by any court exercising jurisdiction over the Associations. Each Association
shall bear one-half of the expense of arbitration proceedings conducted hereunder (other
than witness fees and attorneys’ fees). All arbitration proceedings hereunder shall be
conducted in the City of Des Moines.
X.
UNAVOIDABLE DELAY. Neither the Commercial Association nor the Residential
Association shall be deemed to be in default in the performance of any obligation
under this instrument if and so long as non-performance of such obligation shall be
directly caused by fire or other casualty, national emergency, governmental or
municipal laws or restrictions, enemy action, civil commotion, strikes, lockouts,
inability to obtain labor or materials, war or national defense preemptions, acts of
God or similar causes beyond the reasonable control of such Association.
XI.
ESTOPPEL CERTIFICATES. The Commercial Association or the Residential
Association shall, from time to time, within twenty (20) days after written request
from the other Association, execute, acknowledge and deliver to the other, a
certificate stating:
A. That the terms and provisions of this Declaration are unmodified and are in full
Force and effect or, if modified, identifying the modification agreements;
B. Whether there is any existing default hereunder by the other Association and, if so,
specifying the nature and extent thereof;
C. Whether the Association executing such certificate is performing work for which that
Association expects reimbursement under the provisions hereof;
D. The nature and extent of any setoffs, claims or defenses then being asserted or
otherwise known by the Association against the enforcement of the other
Association’s obligations hereunder;
E. The nature and extent of any notice given or demand made upon the other
Association which has not been satisfied; and,
F. Such other matters as may be reasonably requested.
XII.
AMENDMENT. Prior to the first conveyance of a Unit in either condominium to a
Unit Owner other than Declarant, this Declaration may be amended by an instrument
executed by Declarant and recorded. Thereafter, this Declaration may be amended
only by the affirmative vote or agreement of both:
A. Unit Owners to which at least sixty-seven percent (67%) of the votes in the
Commercial Association are allocated, and at least sixty-seven percent (67%) of the
Holders of first mortgages upon the Commercial Units (each mortgagee having one
vote per Unit financed); and,
20
B. Unit Owners to which at least sixty-seven percent (67%) of the votes in the
Residential Association are allocated, and at least sixty-seven percent (67%) of the
holders of first mortgages upon the Residential Units (each mortgagee having one
vote per Unit financed).
Notwithstanding the foregoing, the written consent of Declarant shall be required for any
amendment of this Declaration prior to the last conveyance of a Unit in either
condominium to a Unit Owner other than Declarant.
XIII.
MISCELLANEOUS.
A. No Unit Owner or group of Unit Owners of either condominium shall have the right
to take action under this instrument to enforce any of the easements, rights, privileges
or covenants; any such action and enforcement shall be taken solely by the Officers
and Board of Directors of the respective Associations on behalf of all the Unit
Owners of such respective condominium.
B. All notices required hereunder shall be personally delivered or sent by registered or
certified mail to “Board of Directors of The Plaza Condominium Association” at its
post office address or to such other address as such Board of Directors may hereafter
designate from time to time by written notice, or to “Board of Directors of The Plaza
Commercial Owners Association” at its post office address or to such other address
as such Board may hereafter designate from time to time by written notice. All
notices shall be deemed to have been given when delivered or when deposited in the
United States mail, postage paid, except notices of change of address, which shall be
deemed to have been given when received.
C. The invalidity of any provision of this Declaration shall not impair or affect in any
manner the validity or enforceability of other provisions of this Declaration which
can be given effect without the invalid provision.
D. The captions herein are inserted only for reference, and in no way define, limit or
describe the scope of this Declaration, or the meaning of any provisions hereof.
E. The use of any gender in this Declaration shall be deemed to include the masculine,
feminine and neuter gender and the use of the singular shall be deemed to include the
plural, whenever the context so requires.
F. No restriction, condition, obligation or provision contained in this Declaration shall
be deemed to have been abrogated or waived by reason of any failure to enforce the
same, irrespective of the number of violations or breaches thereof which may occur.
G. In the event of any conflict or inconsistency between or among the provisions of the
Act and this Declaration, the Act shall control.
21
H. The provisions of this Declaration shall be liberally construed to effectuate its
purpose of creating a uniform plan for the ownership and operation of a first-class
multi-unit commercial and multi-unit residential building. Specifically and
irrevocably, the Owners and Occupants of the Residential Condominium and the
Commercial Condominium, and the Commercial Association and the Residential
Association, and the successors, assigns, heirs, and personal representatives of any or
all of them, including any person having an interest in the Total Property, hereby
waive and give up and right to contest or challenge the easements, restrictions,
covenants, and conditions set forth in this instrument for reasons solely of the passage
of time. All such persons are hereby and forever stopped from asserting to defeat any
provision of this instrument the passage of time as otherwise provided in Iowa Code
Section 614.24 or any other law.
I.
The provisions of this Declaration shall inure to the Owners of Units in the
Commercial and Residential condominiums and their personal representatives,
successors, heirs and assigns.
J. Not all matters governing the relations between the Associations have been set forth
herein. It is the intention that whenever a matter arises in the course of
administration of the condominiums which is not dealt with herein that all of the
Owners and Occupants of both condominiums are to exist in an amicable fashion
which will inure to the benefit of both condominiums. To this end, whenever a
matter arises which is not covered by this Declaration of Easements, such matter will
be resolved in a manner which will be in the best interests of both condominiums and
not either condominium or particular Owners or class of Owners in either
condominium.
K. It is anticipated that Units of the Commercial Condominium will be converted and
subdivided. By reason thereof, the use of he Facilities constructed for the use of the
Commercial Condominium will be increased and the Residential Associations and all
Residential unit Owners and Occupants agree and acquiesce to such increased use.
IN WITNESS WHEREOF, the Declarant has caused this Declaration to be executed as of
the date first above written.
TGA DEVELOPMENT, INC.,
a Minnesota Corporation
By: ______________________
Theodore Glasrud
Chairman of the Board
STATE OF IOWA
)
ss.
COUNTY OF POLK)
22
On this _____ day of ________________, 1984, before me, the undersigned a Notary
Public in and for said County and State, personally appeared Theodore Glasrud, to me personally
known, who being by me duly sworn, did say that he is the Chairman of the Board of said
corporation executing the within and foregoing instrument, that (no seal has been procured y the
said) (the seal affixed thereto is the seal of said) corporation; that said instrument was signed
(and sealed) on behalf of said corporation by authority of its Board of Directors; and that the said
Theodore Glasrud as such officer acknowledged the execution of said instrument to be the
voluntary act and deed of said corporation by it and by them voluntarily executed.
_______________________________________
NOTARY PUBLIC IN AND FOR SAID
COUNTY AND STATE
4. DECLARATION OF CONDOMINIUM FOR THE PLAZA, A CONDOMINIUM,
WITH THE FOLLOWING ATTACHMENTS:
a. A legal description of the parcel of real estate in which The Plaza is located
(Exhibit A to the Declaration).
b. Plat of survey of the real estate, a parcel of which is The Plaza and floor plans
of the building and the units including floor plans of The Commerce at The
Plaza, a Commercial Condominium, which floor plans are included with the
sole intention of showing easement areas for the benefit of The Plaza and for
illustrative purposes only (Exhibit B to the Declaration).
c. A list of units and allocation of undivided interest in the common elements,
common expense and votes in he Association (Exhibit C to the Declaration).
d. Legal description of the parcel of real estate to be submitted for The
Commerce at The Plaza, a Commercial Condominium (which is shown for
reference purposes only), (Exhibit D to the Declaration).
e. Articles of Incorporation of The Plaza Condominium Association (Exhibit E
to the Declaration).
f. Bylaws of The Plaza Condominium Association (Exhibit F to the
Declaration).
NOTE; THE FLOOR PLANS SHOWN ON EXHIBIT B, SHEETS 7 THROUGH 29
INCLUSIVE, REPRESENT THE ORIGINAL FLOOR PLAN AND WLL BE CHANGED TO
REFLECT ACTUAL CONSTRUCTION OF UNITS AND COMBINED UNITS.
DECLARANT HAS THE RIGHT TO AMEND PLANS, COMBINE, OR SUBDIVIDE UNITS
PURSUANT TO SECTION 8.4 OF THE DECLARATION. FURTHER, HALLWAYS ON
FLOORS 4 THROUGH 25 ARE LIMITED COMMON ELEMENTS AND MAY BECOME
EXCLUSIVE TO ONE UNIT PURSUANT TO SECTION 7.2 OF THE DECLARATION.
DECLARATION OF CONDOMINIUM
FOR
THE PLAZA, A Condominium
This Declaration is made by TGA Development, Inc., a Minnesota Corporation,
(hereinafter referred to as Declarant). Pursuant to the Iowa Horizontal Property Act (the Act),
Chapter 499B Coe of Iowa, 1983.
RECITALS:
A, Declarant is the owner of certain real property on which is constructed or will be constructed
certain improvements, all of which are described in this Declaration.
B.
Declarant intends, by filing this Declaration, to submit and convey the land and the
improvements to be constructed thereon, including but not limited to all buildings,
structures, improvements, and other permanent fixtures of whatsoever kind thereon, and all
rights and privileges belonging thereto, to the condominium form of ownership and use
pursuant to the provisions of the aforesaid Horizontal Property Act.
Now, therefore, Declarant, the fee simple titleholder to the property herein described,
Expressly intends to, and by recording this Declaration does hereby submit the land and the
Property to the Condominium Regime pursuant to the provisions of the Act.
ARTICLE 1. NAME
The name of the Condominium Regime is THE PLAZA.
ARTICLE 2. LOCATION, LEGAL DESCRIPTION, BUILDING, SURVEY AND FLOOR
PLANS
2.1
The Condominium Regime is situated 15 300 Walnut Street, Des Moines, Polk County,
Iowa.
2.2
The legal description of the parcel of real property submitted to the Condominium
Regime is legally described on Exhibit A attached hereto and by this reference made a
part hereof and is hereinafter referred to as the “Land”.
2.3
The building to be constructed on the Land is a building consisting of the following:
(a) 23 stories of apartments;
(b) 2 stories for commercial use (not included in this Condominium Regime); and
(c) 2 basement levels (garage levels); an
(d) 227 maximum number of apartments, some of which may be combined or
subdivided as provided in Article 8 and Article 11 below.
2
The building is o be constructed principally of pour in place, post-tension concrete, metal
studs gypsum, and masonry brick veneer.
2.4
Plat and Floor Plans.
Attached as Exhibit B is a duly certified Plat of Survey of the real estate, a parcel of
which is submitted to this Condominium Regime and the Floor Plans of the building and
the units, which units are shown and designate by number. Such Exhibits contain and
such contents shall govern for the purposes of this Declaration and for purposes of the
Act as meeting the following requirements:
(a) The dimensions, area and location of common elements affording access to each
unit:
(b) The full and exact copy of the Plans of the building graphically showing common
elements both limited and general.
(c) The unit number of each unit, statements of its location, approximate area, number
of rooms, and other data necessary for its proper identification.
2.5
Exhibits B-4 and B-5 are Floor Plans of the Commerce at the Plaza, a Commercial
Condominium separate and distinct from this Condominium Regime. Exhibits B-4 and
B-5 are attached with the intention of sowing easement areas for the benefit of this
Condominium Regime and for illustrative purpose only.
ARTICLE 3. DEFINITIONS
3.1
As used herein, unless the context requires otherwise, the following terms shall have the
following meanings:
(a) ”Act” means Chapter 499B of the Code of Iowa (1983) entitled Horizontal Property
Act (Condominiums).
(b) ”Association” means The Plaza Condominium Association and its successors and,
shall, for the purpose of this Declaration, be the “Council of Co-owners” as defined
in the Act.
(c) “Board” means the Board of Directors of the Plaza Condominium Association.
(d) “Building” means an includes all structural improvements located on the land which
improvements are included in the Commerce at the Plaza, Commercial
Condominium and this Condominium Regime.
(e) “Bylaws” means the Bylaws of he Association, attached hereto as an Exhibit as
amended from time to time.
3
(f) “Condominium Documents” means this Declaration, all Exhibits attached hereto,
including the Articles of Incorporation and Bylaws of the Association and
supplements and amendment thereto, all of which by this reference are made a part
hereof.
(g) “Common Elements” or “General Common Elements” means all the Property with
the exception of the units and those items reserved as limited common elements, and
shall include those items defined as general common elements in the Act, including
the following:
(i)
the Land;
(ii)
the foundations, garage levels except Garage Units, floors, exterior walls of
each unit and of the buildings, ceilings and roofs, halls (excluding corridors
located on Floors 4 through 25, inclusive, which are reserved as Limited
Common Elements), lobbies, stairways, and entrances and exits, or
communication ways, elevators, garbage compactor and in general all the
devices or installations existing for the common use of all units;
(iii) all compartments for installation of central services such as power, light, gas,
cold and hot water, refrigeration, central air conditioning and central heating,
reservoirs, water tanks and pumps, and the like;
(iv) all sewer, water, electrical, gas, telephone or other utility or service lines,
wiring, ducts, conduits and piping serving more than one Unit.
(v)
area in the building for use by the manager for office purposes or residence.
(h) “Common Expense” means expenditures made or liabilities incurred by or on behalf
of the Association, together with any allocations to reserves; and shall include all
expenses declared to be common expenses by this Declaration.
(i) Declarant” means TGA Development, Inc., a Minnesota Corporation, 151 East
County Road B-2, St. Paul, Minnesota 55117.
(j) “Land” means the parcel of real estate described on Exhibit A above and submitted
pursuant to this Declaration and shall mean the “parcel of real property” as defined
in the Act.
(k) “Limited Common Element” means and includes those common elements which are
specified in or determined under Article 7 of this Declaration to be reserved for the
use of one or more units to the exclusion of the other units.
(l) “Majority of Owners” means of the owners of more than 50% of undivided
ownership interest of the common elements, or more than 50% of the votes of the
4
Association. Wherever, in this Declaration, a specific percentage of unit owners
is stated, the same shall mean that percentage of unit owners who in the aggregate
own such specified percentage of the entire undivided ownership of the common
elements or such specified percentage of the votes in the Association.
(m)
“Property” means all property, real, personal or mixed submitted to the
Condominium Regime including all of the land, property, buildings,
improvements and structures erected, constructed or contained therein or thereon
and all easements, rights and appurtenances belonging thereto and all furniture,
furnishings, fixtures and equipment intended for the mutual use, benefit or
enjoyment of the unit owners collectively.
(n) “Unit” means one or more rooms occupying all of part of a floor or floors on the
type and more particularly described in Article 4 of this Declaration and shall have
the same meaning as “apartment” as defined in the Act except as further defined
herein.
(o) “Unit Owner” means a person, corporation or other legal entity capable of holding
or owning an interest in real property who owns all or an interest in a unit within the
Regime and shall have the same meaning as “Owner” or “Co-owner” as provided for
In the Act.
3.2
Other Definitions.
Certain other terms are defined at various places in this Declaration and to the extent not
defined herein, said definition shall control. To the extent not limited, or contradicted by
this Declaration, the definitions contained in the Act shall apply.
3.3
Plural and Gender.
Wherever the context so permits or requires, the singular shall include the plural and the
plural the singular and the usage of any gender shall include all genders.
ARTICLE 4. DESCRIPTION OF UNITS
4.1
Types of Units.
There are two types of units in this Condominium:
(a)
residential; and
(b)
garage
Those Units listed on Exhibit E and shown on the Floor Plans designated by number only
are Residential Units, and those units listed on Exhibit E and shown on the Floor Plans
5
with the prefix “G” are garage units. The legal description of each unit shall consist of
the identifying number of such unit as shown on Exhibit B.
4.2
Residential Units.
Each Residential Unit shall consist of the area between the undecorated and unfinished
interior surfaces of its perimeter walls (including the interior surfaces of the exterior
windows and doors) and between the lower surface of the ceiling and the upper surface of
the floor. A Residential Unit shall include and be defined by the above referred to
surfaces. A Residential Unit shall include appliances, electrical fixtures and plumbing
fixtures, heating, ventilating and air conditioning equipment lying within the Units and
non-load bearing partitions or walls within such area. A Residential Unit shall also
include any portion of a chute, flue, duct, pipe, wire, conduit or any other fixtures located
within a Unit which serve more than one Unit or a Unit other than the Unit in which it
lies, shall be excluded and shall not constitute a part of parts of the Residential Unit. The
recessed entryway to a Residential Unit is a part of the Residential Unit, the Unit
boundary being an imaginary plane consisting of the extension of the wall across the
recessed entryway, except that portion reserved as Limited Common Elements pursuant
to Article 7.
4.3
Garage Units.
The boundaries of garage units are as follows: the lower horizontal boundary of garage
units is the upper surface of the material from which the parking areas are constructed,
and does not include any of such material or paint or other surfacing material thereon.
The upper horizontal boundary is a plane distant 6.5 feet above the lower horizontal
boundary. The vertical boundaries are any walls, and if there are no walls, plane rising
vertically at right angles from the center line of any stripe painted or marked on the lower
horizontal boundary.
ARTICLE 5. OWNERSHIP, COMMON EXPENSE LIABILITY, VOTES AND USE OF
COMMON ELEMENTS.
5.1
Allocation of Undivided Interest, Common Expenses, and Votes.
On Exhibit C attached hereto is an allocation of the undivided interest in the common
elements, common expenses and vote in The Plaza Condominium Association (the
Association) to each unit in such manner that each of the items is allocated according to
the approximate proportion of the square footage of each unit to the square footage of all
units. The allocation for each unit is expressed as a number, the total of which for all
units equals 1.0. Said ownership interest in the common elements shall be an undivided
interest, and the common elements shall be owned by the unit owners as tenants in
common in accordance with their respective percentages of ownership. The ownership of
each unit shall not be conveyed separate from the undivided ownership in the common
elements corresponding to said unit. The undivided ownership in the common elements
corresponding to any unit shall be deemed conveyed or encumbered with that unit, even
6
though the legal description in the instrument conveying or encumbering said unit may
refer only to the title to that unit, or may refer to an incorrect percentage for that unit.
5.2
No Partition.
The common elements shall remain undivided and shall not be the object of an action for
partition or division of the co-ownership thereof so long as suitable for a Condominium
Regime, and, in any event, all Mortgages must be paid in full prior to bringing an action
for partition or the written consent of all Mortgagees must be obtained.
5.3
Each unit owner shall have the right to use the common elements (except the limited
common elements) in common with all other unit owners, as may be required for the
purposes of access ingress to, egress from, use, occupancy and enjoyment of the
respective unit owned by such unit owners. Such right to use the common elements shall
extend to not only each unit owner, but also to his agents, servants, tenants, family
member, customers, invitees and licensees. However, each unit owner shall have the
right to the exclusive use and possession of the limited common elements serving such
unit alone or with adjoining units. Such rights to use the common elements, including the
limited common elements, shall be subject to and governed by the provisions of the Act,
Declaration, Bylaws and Rules and Regulations of the Association. In addition, the
Association shall have the authority to rent, grant concessions or grant easements with
respect to parts of the common elements, subject to the provisions of the Declaration and
Bylaws. All income derived by the Association from rents, concessions or other sources
shall be held and used for the benefit of the members of the Association, pursuant to such
Rules, Resolutions or Regulations as the Board may adopt or prescribe.
ARTICLE 6. MANAGEMENT, ADMINISTRATION, COMMON EXPENSES AND
ASSESSMENTS
6.1
Association and Membership.
The management and administration of the Property shall be governed and managed by
The Plaza Condominium Association, a non-profit membership corporation organized
and existing under Chapter 504A, Code of Iowa. Copies of its Ar6icles of Incorporation
and of its Bylaws are attached hereto as Exhibits E and F. Whenever a vote or other
action of unit owners as a group is required the mechanics of conducting such a vote or
taking such action shall be under the control and supervision of the Association. The
action of the Association shall constitute the action of the owners or of the Council of CoOwners whenever such action is permitted or required herein or by the Act. Each unit
owner shall be a member of the Association so long as he is a unit owner. A unit owner’s
membership shall automatically terminate when he ceases to be a unit owner. Upon the
conveyance or transfer of a unit owner’s ownership interest to a new unit owner, the new
unit owner shall simultaneously succeed to the former unit owner’s membership in the
Association.
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6.2
6.3
Common Expense Allocation.
(a)
The cost of maintaining (cleaning, striping, sweeping, etc.) the surface of the
area, garage units, garage entrance drive and garage drive ramp areas of the
condominium will be a common expense allocated to all units in proportion to
their common expense liability. The cost of repairing and replacing, including
capital improvements to the surface of the garage levels, garage units, garage
entrance drive and garage drive amp areas of the condominium will be a special
common expense assessment allocated to the garage units only in proportion to
their common expense liability. Except as herein set forth, any common expense
associated with the maintenance, repair, or replacement of limited common
elements shall be assessed against the unit or in equal shares against the units to
which that limited common element was serving at the time the expense was
incurred. Except for such expenses in connection with limited common elements
and except as otherwise provided herein, common expenses shall be assessed
against all units in accord with the common expense liability allocated to each
unit.
(b)
If any unit owner or occupant fails to perform any obligation imposed under the
Declaration or the Bylaws or Rules and Regulations, then the Association may,
but is not obligated to, perform the same for the unit owner’s account and for such
purpose may enter upon the units, may make necessary repairs, advance expenses
or other sums necessary to cure the default, and for any such expense, may levy a
special assessment upon the unit.
(c)
Each unit owner shall be liable for the expense of any maintenance, repair or
replacement to common elements or to another unit rendered necessary by his act,
neglect or carelessness or by that of any member of his family or his or their
guests, employees, agents or leasees, but only to the extent that such expense is
not met by the proceeds of insurance carried by the Association or the injured unit
owner. Such liability shall include any increase I fire insurance rates occasioned
by use, misuse, occupancy or abandonment of any unit or its appurtenances.
Nothing herein contained, however, shall be construed so as to modify any waiver
by insurance companies of rights of subrogation.
Payment of Common Expenses and Lien.
Payment of common expenses shall be by assessments made by the Association against
each unit and unit owner. The Association may provide that assessments be payable
monthly or at other intervals. If default is made in the payment of the installments, the
Association may declare the entire annual assessment to be accelerated and to be
immediately due and payable. If any unit owner shall fail or refuse to make any such
payment of the common expenses when due, the amount thereof together with interest
8
thereon at the maximum rate as may then be permitted under the laws of the State of
Iowa, accruing from and after the date that said common expenses become due and
payable, shall constitute a lien on the interest of such unit owner in the Property and his
unit.
6.4
Enforcement of Lien.
The Board may bring an action at law against the unit owner personally obligated to pay
the same, for collection of his unpaid proportionate share of the common expenses, or
foreclose the lien against the unit or units owned by such unit owner, and interest, costs
and reasonable attorney’s fees of any such action shall be added to the amount of such
assessment. Each unit owner, by his acceptance of a deed to a unit, hereby expressly
vests in the Board or its agents the right and power to bring all actions against such unit
owner personally for the collection of such charges as a debt and to enforce the aforesaid
lien by all methods available for the enforcement of such liens. The lien provided for in
this section shall be in favor of the Association and shall be for the common benefit of all
unit owners. The Board acting on behalf of the unit owners shall have the power to bid
upon an interest foreclosed at foreclosure sale and to acquire and hold, lease, mortgage
and convey the same.
6.5
No Avoidance.
Each owner shall be liable for all assessments made by the Association against his unit
for common expenses. The liability of a unit owner for all assessments made by the
Association may not be avoided by waiver of the use or enjoyment of any common
element or by abandonment of a unit for which an assessment is made.
6.6
Limitation of Association’s Liability.
The Association shall not be liable for any failure of water, hot water, heat or other
service to be obtained and paid for by the Association hereunder, or for injury or damage
to property caused by r on the common elements or by another owner or person in the
regime, or resulting from electricity, water, rain, air, dust, dirt or sand which may leak or
flow from outside or from any parts of the buildings, or from outside or from any parts of
the buildings, or from any of its pipes, drains, conduits, appliances or equipment or from
any other place unless caused by negligence of the Association. No diminution or
abatement of common expense assessments shall be claimed or allowed for
inconveniences or discomfort arising from the making or repairs or improvements to the
common area or from any action taken to comply with any law, ordinance or orders of a
governmental authority.
6.7
Indemnification of Board and Officers.
Each member of the Association shall be indemnified by the owners against all expenses
and liabilities including attorney’s fees, reasonably incurred by or imposed upon him in
9
connection with any proceedings to which he may be a party, or in which he may become
involved, by reason of his being or having been an officer or director of the Association
or any settlement thereof, whether or not he is an officer or director at the time such
expenses are incurred, except in such cases wherein such person is adjudged guilty of or
liable for willful or malfeasance in the performance of his duties; provided that in the
event of a settlement the indemnification shall apply only when the Board of Directors of
the Association approves such settlement and reimbursement as being for the best interest
of the Association.
6.8
Association as Attorney in Fact for Owners.
The Association is hereby irrevocably appointed attorney in fact for the owners of each
and every unit to manage, control and deal with the interest of such owners in the
common elements so as to permit the Association to fulfill all of its duties and obligations
hereunder and to exercise all of its rights hereunder, to deal with The Plaza upon its
destruction or obsolescence as hereinafter provided, and to deal with and handle
insurance and insurance proceeds. The acceptance by any person or entity of any interest
in any condominium shall constitute an appointment of the Association as an attorney in
fact as provided above.
6.9
Subordination of Assessment Liens.
If any unit subject to a lien created by any provision in this Declaration shall be subject to
the lien of a first Mortgage of record: (i) the foreclosure of ny lien created by anything
set forth in this Declaration shall not operate to affect or impair the lien of such
Mortgage; and (ii) the foreclosure of the lien of such Mortgage or the acceptance of a
deed in lieu of the foreclosure by the Mortgagee, shall not operate to affect or impair the
lien except that assessment liens, if any, as shall have come due up to the expiration of
the applicable redemption period and issuance of a sheriff’s deed resulting from a decree
of foreclosure or the appointment of a receiver in foreclosure proceedings or the
acceptance of the deed in lieu of foreclosure shall be subordinate to the lien of the
Mortgage, with the foreclosure-purchaser and purchasers there from taking title free of
assessments, if any, that have come due up to the expiration of the applicable redemption
period and issuance of a sheriff’s deed resulting from a decree of foreclosure or the
appointment of a receiver in foreclosure proceedings or deed given in lieu of foreclosure,
but subject to assessment liens that shall have come due subsequent to the expiration of
the applicable redemption period and issuance of a sheriff’s deed resulting from a decree
of foreclosure or the appointment of a receiver in foreclosure proceedings or the
acceptance of a deed in lieu of foreclosure and have not been paid shall be deemed to be
an expense of the Association, but this shall not derogate the Association’s right to
collect said sums from the defaulting owner personally.
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ARTICLE 7. LIMITED COMMON ELEMENTS
7.1
The party room, exercise room, swimming pool, tennis courts and roof deck areas
which are not reserved to a specific residential unit, all located on or at the 3rd
level, are limited common elements for the use, benefit, and shall be appurtenant
to the residential units and owners thereof to the specific exclusion of the garage
units and garage unit owners.
7.2
The corridors and hallways on floors 4 through 25 inclusive excluding the recessed
entryway to any unit, mechanical equipment areas, and rooms, trash chutes and
mechanical equipment areas, elevator lobby, elevators, laundry rooms, electrical rooms,
and the like including access thereto are limited common elements reserved for the use
and benefit of the owners of the units located on the floor in which such corridor is
located and such limited common element is appurtenant to each unit located on that
floor. A portion of the corridor may become a limited common element serving one or
more units to the exclusion of the remaining units located on that floor provided all unit
owners on the floor which such corridor is located consent in writing together with any
mortgages holding mortgages on such units. Further, no part of the corridor may be used
exclusively for the benefit of a certain unit or units to the exclusion of the other units on
the floor if such use obstructs access to a stair, elevator, or other common element or if
such use in any way violates any fire code, building code, or other governmental
regulation having jurisdiction over the condominium.
7.3
Any portion of a chute, flue, duct, pipe, wire, conduit or any other fixture lying partially
within and partially outside or wholly outside of the designated boundaries of a unit
which serves only that unit (any portion thereof serving more than one unit is a part of the
general common elements) is a limited common element to the unit exclusively served
thereby.
7.4
All balconies, balcony rails, balcony atriums, patios, exterior doors and door frames,
exterior windows and window frames, individual Plaza roof decks and dividers, the
corridor surfaces of the ceilings, floors, walls and doorways located within the recessed
entryway to the residential unit, all of which are designed to serve a single unit, are
Limited Common Elements reserved exclusively to the unit which they are designed to
serve.
7.5
Each residential unit shall have as a limited common element appurtenant to that unit the
Storage space located in Garage Level A or Garage Level B which is numbered to
correspond to the number of the residential unit.
ARTICLE 8. DECLARANT’S RESERVED RIGHTS AND POWERS
8.1
Declarant’s Use and Ownership.
11
Declarant is irrevocably and perpetually empowered, notwithstanding any use restriction
or other provision hereof to the contrary, to sell, lease or rent units not previously sold by
the Declarant to any person and shall have the right to transact on the Property any
business relating to construction, sale, lease or rental of such units and any recreational
facilities including, but not limited to, the right to maintain models, offices, signs,
employees and equipment and materials on the premises, and to use common elements to
show such units. A sale and rental office, signs and all items and equipment pertaining to
sales or rentals and other facilities furnished by Declarant shall not be considered
common elements and shall remain its separate property. Declarant retains the right to be
the owner of completed but unsold units under the same terms and conditions as other
owners including membership in the Association save for this right to sell, rent, or lease.
8.2
Control of Association.
Declarant shall have exclusive control of the Association until this control is transferred
pursuant to the Bylaws. This control shall include but not be limited to the right to name
all Directors of the Association. This reservation of control of the Association by
Declarant shall be for a period of five (5) years from the date of the first conveyance of a
unit to a unit whose owner is other than Declarant. Provided, however, Declarant
specifically reserves the right to relinquish control of the Association at any time prior to
the end of the five-year period provided for I this section. Declarant shall have the right
to a management fee for management of the Association and the property during the
period of Declarant’s control of the Association. Any such management fee shall be
commercially reasonable as determined in the relative market place of similar types of
projects and services. Such management shall be a common expense allocated and
assessed as provided herein.
8.3
Membership I Association and Common Expense Liability.
During the period of Declarant’s control of the Association, for those units which are
owned by Declarant, Declarant shall be entitled to membership in the Association.
Further, Declarant shall be liable for 100% of the common expense allocated to the unit
or units owned by it.
8.4
Right to Amend Plans or Subdivide Units.
Declarant reserves the right to change the interior design and arrangement of all units, to
subdivide the units and to alter the boundaries between apartments, so long as Declarant
owns the units so altered. If Declarant shall make any changes in units so authorized,
such changes shall be reflected by an amendment to the Declaration. If more than one
unit is concerned, the Declarant shall apportion between the units, the shares in the
common elements, common expenses and votes which are appurtenant to the units
concerned. An amendment made pursuant to this paragraph needs to be signed and
acknowledged only by the Declarant, its agents or assigns and need not be approved by
the Association, unit owners or mortgages, whether or not elsewhere required for an
amendment. Provided, however, no change pursuant to this paragraph shall alter the
boundaries of the common
12
elements without amendment of this Declaration by approval of the Association, affected
unit owners and affected mortgages in a manner elsewhere provided. Except as set forth
in this Article and except and set forth in Article 11, units may not subdivided.
8.5
Amendments.
Declarant may, during the period of Declarant’s control of the Association, make minor
amendments to this Declaration and the Exhibits attached hereto without the approval of
the unit owners, or mortgages. Such amendments shall be solely for the purpose of
clarification or correction of errors in this Declaration and Exhibits and shall not effect
the substantive rights of any unit owner or mortgages.
ARTICLE 9. THE COMMERCIAL CONDOMINIUM
9.1
Commercial Condominium.
Declarant intends to record a Declaration, together with the Bylaws and Floor Plans
creating a condominium exclusively for commercial purposes on a parcel of real estate
described on Exhibit D attached hereto and made a part hereof (hereinafter referred to as
“the Commercial Condominium”). The commercial units created in the Commercial
Condominium and the common elements described herein may be used for any lawful
non-residential purpose. No residential or garage unit owner in The Plaza shall interfere
in any way or hinder the use of the commercial units or common elements in the
Commercial Condominium. Each residential and garage unit owner and occupants of
such units in The Plaza acknowledge that the total building of which The Plaza is a
portion is a mixed use building and that the use of the Commercial Condominium or any
portion thereof for any lawful non-residential purpose shall not be deemed to be a
nuisance and such owners and occupants waive any right to object to the use of the units
in the Commercial Condominium for the purposes herein stated.
9.2
Respective Parcels.
The parcel of real estate submitted to the Commercial Condominium and the parcel of
real estate submitted to The Plaza herein, together represent 100% of the interests in the
Land. For real estate tax assessment purposes, Declarant hereby declares that 75% of the
land value shall be assessed to The Plaza and 25% of the land value shall be assessed to
the Commercial Condominium for real estate tax purposes.
9.3
Declaration of Easements.
Declarant has executed and recorded a Declaration of Easements between the
Commercial Condominium and The Plaza Condominium. The Declaration of Easements
shall allocate maintenance, expenses and duties between the two regimes and
Associations. The Declaration of Easements shall govern the relationship of the two
condominium regimes and their respective Associations.
13
ARTICLE 10. MAINTENANCE, ALTERATION AND IMPROVEMEN
10.1
10.2
Maintenance by Association.
(a)
The Association shall maintain, repair and replace all common elements, whether
limited or general.
(b)
The Association shall repair incidental damage caused to a unit through
maintenance by the Association.
(c)
If a unit owner defaults on his responsibilities of maintenance, the Association
may assume such responsibilities.
(d)
The Association ay, in its discretion, assume responsibility for any maintenance
project which requires reconstruction, repair, rebuilding, renovation, restoration or
similar work to one or more units and the cost thereof may in the discretion of the
Association, either be assessed against each unit for which such costs were
incurred or be assessed against all units as a common expense according to the
circumstances.
(e)
All expenses incurred by the Association under this section shall be common
expenses allocated pursuant to Article 6 above.
Maintenance by Owner.
(a)
Each unit owner at his own expense shall maintain the interior, including the
boundary surfaces, of such unit and its equipment, shall keep such interior in a
clean and sanitary condition, shall do all redecorating, painting and other finishing
which may at the time be necessary to maintain his unit, and shall be responsible
for the maintenance of all personalty including carpets, furnishings, cabinets and
appliances within such unit.
(b)
The unit owner shall be responsible for maintenance of any plumbing fixtures,
lighting fixtures, refrigerators, dishwashers, disposals and ranges located in or
connected with such unit and for its exclusive use. The unit owner shall also, at
his own expense, keep in a clean condition any limited common area which is
reserved for the exclusive use of his unit.
(c)
The unit owner shall maintain, at his expense, any improvement or other
alteration made by him.
(d)
The owner of each unit shall promptly report to the Association any defects or
other maintenance needs which are the responsibility of the Association.
14
10.3
Alterations or Improvements to Units.
No unit owner shall make or permit to be made any structural alteration to a unit without
first obtaining written consent of the Board, which shall determine the proper insurance
of such improvement or other alteration, and the effect of such improvement or alteration
on insurance of other property of the regime, and which shall arrange with such unit
owner for the payment of the cost of any additional insurance thereby required. The
consent required by the preceding sentence shall be immediately granted upon agreement
of the unit owner to pay the cost of such additional insurance and a determination that
such alteration will not impair the structural soundness of the building or safety of the
property. Unit owners shall do no act or work which will impair the structural soundness
or integrity of the building or safety of the property or impair any easement. The
improvement or alteration of a unit shall cause no increase or decrease in the number of
ownership units appurtenant to such unit.
10.4
Alterations to Common Elements.
Except as permitted by the Act and except as herein set forth, common elements shall not
be altered or removed and no improvements shall be constructed or made thereon except
by the Association or by others upon the prior written consent of the Association.
The Association’s consent shall be requested by a written petition submitted to the
Association by the unit owner; unless the Association gives the unit owner a notice
requesting further information, denying or limiting its consent within sixty-(60) days after
the delivery of the petition to the Association, the consent may be deemed given to the
unit’s owner. The Association may require that a unit owner furnish adequate plans and
specifications to describe the nature of the proposed changes ad alterations.
10.5
Access to Units.
The authorized representatives of the Association or Board shall be entitled to reasonable
access to the individual units and limited common elements as may be required in
connection with the preservation of any individual unit or limited common elements in
the event of an emergency, or in connection with elements, limited common elements or
any equipment, facilities or fixtures affecting or serving other units, common elements
and limited common elements or to comply with the requirements of any governmental
authority.
ARTICLE 11. RELOCATION OF BOUNDARIES, COMBINATION OR SUBDIVISION OF
RESIDENTIAL UNITS.
11.1
Reallocation, Combination or Subdivision Permissible.
The boundaries between adjoining residential units may be reallocated or the
combination of two or more adjacent residential units may be made and a residential unit
15
may be subdivided into two or more units solely in accordance with the provisions of this
Article with the following limitations:
11.2
(a)
No unit may be modified by reallocation of boundary to the extent that it no
longer remains practicably usable as a residential unit..
(b)
No unit may result from the subdivision of a residential unit to the extent that it no
longer remains practicably usable as a residential unit.
(c)
Each residential unit resulting from a subdivision or from a reallocation of
boundaries shall be at least 621 square feet in area and shall have at least one
living room, one kitchen, one bedroom, one bathroom, two exterior windows and
direct exclusive access to a common element (limited or general) corridor
adjacent to the unit.
(d)
The reallocation, combination or subdivision shall not violate the structural
integrity of the building, nor shall it violate any building, fire, or similar code or
ordinance from any governmental body having authority or jurisdiction over the
property.
Procedure.
(a)
Subject to the provisions of the Act and all other governmental laws, ordinances,
rules and regulations, and subject to Section 11.1 above, the boundaries between
residential unit may be relocated by the owners thereof a two residential units
may be combined with an adjacent residential unit or units and made part thereof
for use together with such adjacent residential unit or units or one residential unit
may be subdivided. The unit owner or owners desiring to make such relocation,
combination or subdivision shall make written application to the Board requesting
an amendment to this Declaration including the Floor Plan Exhibits and
containing the following:
(i)
A survey of the proposed alterations of the affected unit or units; and
(ii)
A proposed reallocation of the undivided interest in the common elements,
common expenses and votes to the units affected by such relocation or
combination; and
(iii)
Setting forth whether the limited common elements serving such unit or
units will be affected and the resulting assignment thereof.
(iv)
Consent in writing by all mortgages holding valid mortgages on the units
affected by such plan of reallocation, combination or subdivision.
16
(b) No such proposed relocation, combination or subdivision shall be effective unless
first approved in writing by a majority of the members of the Board, which approval
shall not be unreasonably withheld. If so approved by the Board, such proposed
relocation, combination or subdivision shall be effective upon the recording of an
amendment to this Declaration reflecting such relocation or combination and
executed by the unit owners and mortgages of the units affected together with an
amended Floor Plan Exhibit. Failure of the Board to approve or disapprove such a
request within 60 days from submittal shall be deemed approval. All expenses
incurred in connection with such relocation, combination or subdivision shall be paid
by the unit owners of the units affected.
11.3
Declarant’s Rights.
Nothing in this Article shall affect the reserved rights of the Declaration as provided in
Article 8 above.
11.4
Garage Units.
Nothing contained in this Article shall allow any relocation of boundaries, combination
or subdivision of garage units. The relocation of boundaries, combination or subdivision
of garage unit is prohibited.
ARTICLE 12. EASEMENTS AND ENCROACHMENTS
12.1
Cross Easements.
Appurtenant to each unit shall be easements from each unit owner to each other unit
owner and to the Association and from the Association to the respective unit owners as
follows:
(a)
For ingress and egress through the common elements and for maintenance, repair,
and replacement as authorized;
(b)
Through the units and common elements for maintenance, repair and replacement
or reconstruction of common elements, but access to units shall be only during
reasonable hours and upon reasonable notice except in case of emergency;
(c)
Through the units and common elements for conduits, ducts, plumbing, wiring
and other facilities for the furnishing of utility or other services to the other unit
inn the building, and each unit and the common elements shall be subject to an
easement for structural support in favor of every other unit in the building and the
common elements.
17
12.2
Encroachments.
If any portion of the common elements encroaches upon any unit, or if any unit
encroaches upon any other unit or upon any portion of the common elements, or if any of
such encroachments shall occur hereafter as a result of shifting or settling of the building
or from alteration, repair or improvement to the common elements or as a result of repair
or restoration of the common elements or a unit after damage by fire or other casualty, or
as a result of condemnation or of eminent domain proceedings, then in each of such
events a valid easement shall exist for such encroachment and for the maintenance
thereof so long as the building, common elements and units exist.
ARTICLE 13. USE OF RESIDENTIAL AND GARAGE UITS AND RESTRICTIONS
13.1
Use and Restrictions.
Subject to the provisions of the Condominium Documents, the following shall govern
and restrict the use, occupancy and alienation of units:
(a)
Residential units are to be occupied and used only for residential purposes by unit
owners and their families, tenants and social guests, provided, however,
that the Declarant may maintain residential units as models or management
offices, all as more particularly set forth in Article 8. No occupant of a
residential unit shall create a nuisance to other occupants or interfere with the
peaceable possession of occupants of other units. No pets may be kept in
residential units except as permitted by the Rules and Regulations of the
Association. There are no restrictions on occupancy or alienation by reason of
age, race, sex or religion.
(b)
Garage units may be used only for the parking and storage of motor vehicles
and bicycles and such other uses as may be designated in the Rules and
Regulations. Garage units may be owned only by an owner or owners of a
residential unit or a unit in the Commercial Condominium or a portion of such
unit. Garage units may be leased only to an owner or a tenant of a residential unit
or a unit in the Commercial Condominium, or a portion of any such unit.
(c)
The following are limitations on the number of persons in occupancy of
residential units: No more than two persons shall be in occupancy of a one
bedroom unit; no more than four persons shall be in occupancy of a two bedroom
unit; and no more than five persons shall be in occupancy of a three bedroom unit.
“In occupancy” means occupancy as a principal living place during 30 days in
any calendar year.
(d)
At no time shall: more than four persons be present in a one bedroom unit
overnight, more than six persons be present in a two bedroom unit overnight, and
more than seven persons be present in a three bedroom unit overnight, without
the prior consent of the Association.
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13.2
Rules and Regulations.
The Association shall have the authority to amend and adopt reasonable rules and
regulations governing the use of the property and such rules shall be observed and obeyed
by the owners, their guests, and licensees. Such rules after being properly adopted shall
have the same force and effect as if contained in this Declaration. The initial Rules and
Regulations promulgated by the Declarant shall be deemed properly adopted by the
Association without any formal action.
13.3
Roof Decks.
The owners of the units located on the 3rd level which have reserved to such units a deck
located on the roof serving the Commercial Condominium are subject to an easement for
the roof membrane for the benefit of the Commercial Condominium. In the event
maintenance, repair or replacement of the roof membrane is reasonably required by the
Commercial Association, the owner of the units to which the roof decks are reserved as
limited common elements shall be responsible at their sole expense for the removal of all
improvements, personal property, railings, flooring, and improvements located in the roof
deck area reserved to such unit.
ARTICLE 14. EMINENT DOMAIN
14.1
Taking by Eminent Domain.
Payment for the taking of a portion of a unit or of the common elements by eminent
domain or the conveyance under threat thereof shall be deemed to be proceeds from
insurance on account of casualty and shall be deposited with the Association. Even
though the awards may be payable to owners, the unit owners shall deposit the awards
with the Association as Trustee. And, in the event of failure to do so, in the discretion of
the Association a special assessment shall be made against a defaulting owner in the
amount of his award, and the amount of such award shall be set off against the sums
hereinafter made payable to such owner. The proceeds of the award shall be distributed
or used in a manner heretofore provided for insurance proceeds except that when the
Horizontal Property Regime is not to be terminated, and one or more units are taken in
part, the taking shall have the following effects:
(a)
If the Unit is Reduced But Tenable. If the unit taking reduces the size of
the unit, and the remaining portion of the unit can be made tenable, the
award for the taking of a portion of the unit shall be used for the following
purposes in order stated, and the following changes shall be effected in the
Horizontal Property Regime:
(i)
The unit shall be made tenable. If the cost of such work exceeds
the amount of the award, the additional funds required shall be
assessed against the owner of the condominium unit.
19
(b)
14.2
(ii)
The balance of the award, if any, shall be distributed to the
owner of the unit and to each mortgagee of the unit of record, the
remittance being payable jointly to the owner and the mortgages.
(iii)
If the taking reduced the gross area of the unit, the ownership unit
shall be reduced on an equitable basis to be determined by the
Association.
Unit made Untenable. If the taking destroys or so reduces the size of the
unit that it cannot be made tenable, the awards for the taking of the unit
shall be used for the following purposes in the order stated, and the
following changes shall be effected in the Horizontal Property Regime:
(i)
The market value of such unit immediately prior to the taking shall
be paid to the owner of the unit and to each mortgagee of the unit
of record, the remittance being payable jointly to the owner and the
mortgagees.
(ii)
The remaining portion of such unit, if any, shall become a part of
the common elements and shall be placed in condition for use by
all of the unit owners in a manner approved by the Association;
provided, if the cost of such work shall exceed the balance of the
fund from the award for the taking, such work shall be paid for by
assessment as a common expense among all remaining units.
(iii)
F the amount of the award for the taking is not sufficient to pay the
market value of the condemned unit to the owner, and to condition
the remaining portion of the unit for use as part of the common
elements, the additional funds required for such purposes shall be
raised by assessments against all of the unit owners who will
continue as co-owners of condominium units after the changes in
the Horizontal Property Regime affected by the taking. In the
event that the market price cannot be determined by negotiations, it
shall be determined by binding arbitration in accordance with
Chapter 679 of the Code of Iowa.
(iv)
If the amount of the award for the taking exceeds the amounts
necessary to pay the market value of the condemned unit to the
owners as provided in sub-paragraph (i) above and to condition the
remaining portion of the unit for use as part of the common
elements as provided in sub-paragraph (ii) above, the excess funds
shall be payable to the owner of the condemned unit.
Amendment to Declaration.
20
The Association shall thereafter have the right to file among the land records an
amendment to this Declaration to incorporate all necessary changes.
ARTICLE 15. DESTRUCTION OR DAMAGE.
15.1
Procedure.
In the event the Property is damaged or destroyed by fire or other peril, it shall be deemed
that the Association shall have immediately voted unanimously to repair, reconstruct or
rebuild and the same shall be promptly repaired or reconstructed in substantial
conformity with the original plans and specification with the proceeds of insurance
available for that purpose, if any. Provided, however, if the owners holding 75% or more
of the votes in the Association within thirty (30) days from such damage and destruction
notify the Board of Directors in writing, requesting a vote of the Association members
concerning the question of rebuilding, repairing or reconstructing the damage or
destruction, the Association shall hold such a meeting and shall commence such
rebuilding, repairs or reconstruction upon the affirmative vote of 51% of the votes in the
Association. Provided further, in the event that damage or destruction by fire or other
peril exceeds 50% of the ten fair market value of the Property, the Association must hold
a meeting of its members within 30 days of the damage or destruction on the question of
rebuilding, repairing or reconstructing the damage and shall commence such rebuilding,
repair or reconstruction upon the affirmative vote of 51% of the votes in the Association.
15.2
Expense of Repair.
In the event the proceeds of insurance are not sufficient to repair damage or if destruction
is caused by any peril not herein required to be insured against, then the repair or
reconstruction of the damaged common elements shall be accomplished promptly by the
Association as a Common Expense and the repair or reconstruction of any unit shall be
accomplished promptly by the Association at the expense of the owner of the affected
condominium unit. The expense of such repairs or reconstruction shall be assessed and
the lien for the same shall have all the priorities heretofore provided for in this
Declaration by the Bylaws of the Association.
15.3
Disposition of Property.
In the event a vote is properly requested or required and an affirmative vote is not
obtained as provided in Section 15.1, then the provisions of the Act in such event shall
apply.
ARTICLE 16. INSURANCE
16.1
Duty of the Association.
The Association shall obtain and maintain at all times, to the extent available, at least, the
following insurance (hereinafter referred to as “Condominium Property Insurance”):
21
(a)
16.2
Insurance on the Property in the amount equal to full replacement value of the
Property (as determined annually by the Association) and with a replacement cost
endorsement which provides for the payment of all losses without deduction or
allowance for depreciation. Such coverage shall afford protection against, at
least, the following:
(i)
loss or damage by fire or other hazards covered by the standard extended
coverage endorsement and additional extended coverage endorsement;
(ii)
such other risks as shall customarily be covered with respect to projects
similar in construction, location and use, including, but not limited to,
vandalism, malicious mischief, machinery explosion or damage, and such
other insurance as the Association may from time to time determine.
(b)
Public liability insurance in such amounts and in such forms as may be considered
appropriate by the Association including, but not limited to, water damage legal
liability, hired automobile, non-owned automobile and any and all other liability
incident to the ownership and/or use of the Condominium Project or any portion
thereof; and
(c)
Workmen’s compensation insurance to the extent necessary to comply with any
applicable law; and
(d)
Non-conforming structure endorsement to the extent necessary.
(e)
Such other policies of insurance including insurance for other risks of a similar or
dissimilar nature, as are or shall hereafter be considered appropriate by the
Association.
Premiums and Terms.
(a)
The premiums for the insurance coverage shall be a common expense to be paid
by monthly assessments levied by the Association against owners of each of the
units. The premiums attributable to coverage on the condominium units and the
Common Elements shall be apportioned among the units.
(b)
The Association, or its designee, shall have the exclusive authority to adjust losses
under the insurance policies.
(c)
In no event shall the insurance cover obtained and maintained by the Association
be brought into contribution with insurance purchased by owners of units or their
mortgagees.
22
(d)
(e)
16.3
Each unit owner may obtain additional insurance at his own expense upon his
condominium unit provided that no owner shall maintain insurance coverage
which will tend to decrease the amount which the Association owners may realize
under any insurance policy which it may have in force on The Plaza.Summit
House. (???)
All policies shall provide that such policies may not be cancelled or substantially
modified without at least thirty (30) days prior written notice to any and all
insured named thereon, including any and all mortgages of the condominium
units.
(f)
The Association may from time to time designate an Insurance Trustee. The
Association shall be responsible for fees and expenses of the Insurance Trustee
which shall constitute a common expense.
(g)
Except as hereinafter provided, the Association or the Insurance Trustee named in
the condominium property endorsement, as the case may be, shall receive and
hold the amount payable under the Condominium Project Insurance and apply the
same to the cost of reconstruction or repair of a damaged or destroyed
condominium unit. The work of repairing or reconstruction of the damaged or
destroyed condominium unit shall be commenced within thirty (30) days from the
date of the damage or destruction. The work shall be accomplished in accordance
with the same plans and specifications by which the condominium units were
originally constructed, subject, however, to the prior written approval of the
Association. The Association or the Insurance Trustee shall make available and
pay to the owner the amount of insurance proceeds received by the unit. The
payment of the proceeds of insurance shall be made as the work progresses at
such time and upon compliance by the owner with such conditions as the
Association or the Insurance Trustee shall impose, in order to assure full
restoration or repair of the damaged portions of the condominium unit in a
workmanlike manner, free and clear of any mechanic’s and material men’s liens
and any encumbrances, liens, claims or charges other than a first mortgage lien.
If the cost of reconstruction or repair exceeds the amount paid to the Insurance
Trustee, the excess shall be paid by the owner; provided, however, that in the
event a decision to reconstruct is not made according to the terms of Section 15.1
hereof, the Plaza shall be considered terminated. In the event of such termination,
the Board of Directors shall have the responsibility of closing out the affairs of the
Condominium Project in an orderly manner.
General Provisions.
Any insurance obtained pursuant to the requirements of this Article, except under
subsection (h) hereof, shall be subject to the following provisions:
(a)
All policies shall be written with a company or companies licensed to do business
in the State of Iowa and holding a rating of “A-XI” or better, by Best’s Insurance
Reports and a policyholder’s rating of “A” or better
23
(b)
Exclusive authority to negotiate losses under said policies shall be vested in the
Board of Directors or its authorized representative, including any trustee with
which the Association may enter into any Insurance Trust Agreement, or any
successor trustee, each of which shall herein elsewhere be referred to as the
“Insurance Trustee” and all proceeds covering any loss shall be payable to the
Insurance Trustee, or to his successor. All proceeds from an insured loss under
such policy shall be held for the use and benefit of the Association and the owners
of all units and their respective mortgages as interest may appear. Such insurance
proceeds shall be applied and distributed in accordance with the articles relating
to insurance in the Declaration and By-Laws.
(c)
In no event shall the insurance coverage obtained and maintained pursuant to the
requirements of this Article be brought into contribution with insurance issued in
the name of any individual unit owner purchased as herein permitted by such
owner of a condominium unit or their mortgagee. Any “no other insurance” or
similar clause in any policy obtained by the Association pursuant to the
requirements of the Article shall exclude such policies from consideration.
(d)
All policies shall provide that such policies may not be cancelled or substantially
modified without at least thirty (30) days prior written notice to any and all
insureds named thereon, including any and all mortgages of the condominium
units.
(e)
All fire and other hazard insurance policies shall provide that, notwithstanding
any provisions thereof which give the carrier the right to erect or restore damage
in lieu of making a cash settlement, such option shall not be exercisable when in
conflict with the provisions of the Declaration and the By-Laws.
(f)
All policies shall contain a waiver of subrogation by the insurer as to any and all
claims against the Association, the Board of Directors, their agents and
employees, the respective condominium unit owners, their residence employees
and agents. Independent contractors shall not be considered agents, employees or
servants of the Association or of the respective condominium unit owners within
the meaning of said waiver.
(g)
The insurance policy shall contain a provision that the insurance shall not be
prejudiced:
(i)
By any act or neglect of any occupants or owners of the building when
such act or neglect is not within the control of the condominium unit
owners collectively; or
(ii)
By failure of the condominium unit owners collectively to comply with
any warranty or condition with regard to any portion of the premises over
which the condominium unit owners collectively have no control.
24
(h)
The owner of any condominium unit (including the holder of any mortgage
thereon) may obtain additional insurance (including a “condominium unit-owner’s
endorsement”) for improvements and betterments to the condominium unit made
or acquired at the expense of the owner) at his own expense. Such insurance shall
be written either by the same carrier as that purchased by the Association pursuant
to this Article or if written by another carrier, shall provide that it shall be without
contribution as against the same. Such insurance shall contain the same waiver of
subrogation provisions as set forth in Subsection (f) above. The Declarant
recommends that each owner of a condominium unit in the project obtain, in
addition to the insurance hereinabove provided to be obtained by the Association,
a “Tenant’s Policy”, or equivalent, to insure against loss or damage to personal
property, including but not limited to decorated surfaces of walls, floor coverings,
plumbing and electrical fixtures, non-load bearing walls and appliances used or
incidental to the occupancy of the condominium unit, vandalism or malicious
mischief, theft, personal liability and the like. Such policy should include a
“condominium unit owner’s endorsement” covering losses to improvements and
betterments to the condominium unit made or acquired at the expense of the
owner.
ARTICLE 17. REMEDIES
In addition to the remedies to enforce the lien provided in Article 6, the Association shall
have the right to enforce the provisions of the Act, this Declaration and Exhibits hereto,
and any Rules and Regulations properly adopted by it against an individual unit owner or
the occupant of any unit. The Association shall have the right to proceed at law or in
equity to enforce any lien or any of the above items against the unit owner including an
action for damages or injunction. Specifically, the Association shall have the right, after
ten (10) days notice to the unit owner to evict in the unit owner’s name, any tenant of the
unit owner in the event such tenant or other occupant is violating any of the Rules and
Regulations, or provisions of this Declaration. In the event of any such action, the unit
owner agrees to pay all costs including reasonable attorney’s fees. In the event of any
default by any unit by any such action, the unit owner agrees to pay all costs including
reasonable attorney’s fees. In the event of any default by any unit owner under the terms
of this Declaration, the Association shall have the right to correct such default and seek
reimbursement from the unit owner. Any such costs, damages, or expenses in connection
with paragraph shall be a lien against the unit enforceable at law or in equity.
ARTICLE 18. AMENDMENTS
18.1
Unanimous Amendment.
The provisions of this Article 18, and Articles 8, 9 and 19, may be amended by the
Association only by written agreement of all unit owners and all first Mortgagees.
Further, no amendment shall change the allocation of undivided interest in the common
25
elements, common expenses or number of votes unless the record owner of the unit
concerned and all mortgages of record thereon shall affirmatively join in the adoption of
such amendment.
18.2
Other Amendments.
All other amendments except as provided in Article 19 and the Act, may be made by the
Association by a written agreement of unit owners to which at least 66 2/3% of the votes
in the Association are allocated and 66 2/3% of the firs mortgages of the units (each
mortgagee having one vote per unit financed).
18.3
Amendments Requiring Consent of Declarant.
No amendment affecting the provisions of Article 8 of this Declaration can be made
without the written consent of the Declarant.
ARTICLE 19. FHLMC PROVISIONS
The following provisions shall take precedence over all other provisions of this Declaration, and
in the event of any inconsistency or contradiction, the following provisions shall control:
19.1 A first mortgagee of a unit or its assigns, upon request, will be entitled to written
notification from the Association of any default in the performance by the unit owner of any
obligation under this Declaration or Bylaws which is not cured within sixty (60) days.
19.2
No right of first refusal contained in this Declaration or the Bylaws of the Association
shall impair the rights of a first mortgagee to:
(a)
Foreclose or take title to a unit pursuant to the remedies provided in the mortgage;
or
(b)
Accept a deed or assignment in lieu of foreclosure in the event of default by a
mortgagor; or
(c)
Sell or lease a unit acquired by the mortgagee.
19.3
Any first mortgagee who obtains title to a unit pursuant to the remedies provided in the
mortgagee or foreclosure of the mortgage will not be liable for such unit’s unpaid dues or
charges which accrue prior to the acquisition of title to such unit by the mortgagee.
19.3
Unless at least 66-2/3%, or such higher percentage as is required by law, of the first
mortgages (based upon one vote for each mortgage owned) or owners (other than the
sponsor, developer, or builder) of the individual condominium units have given their
prior written approval, the Association shall not be entitled to:
(a)
by act or omission, seek to abandon or terminate the condominium project,
26
(b)
change the pro-rata interest or obligations of any individual condominium units
for the purpose of:
(i)
levying assessments or charges or allocating distributions or hazard
insurance proceeds or condemnation awards, or
(ii)
determining the pro-rata share of ownership of each condominium unit in
the common element.
(c)
partition or subdivide any condominium unit;
(d)
by act or omission, seek to abandon, partition, subdivide, encumber, sell or
transfer the common elements. (The granting of easements for public utilities or
for other public purposes consistent with the intended use of the common
elements by the condominium shall not be deemed a transfer within the meaning
of this clause);
(e)
use hazard insurance proceeds for losses to any condominium property (whether
to units or to common elements) for other than repair, replacement or
reconstruction of such condominium property.
19.4
Condominium dues or charges (common element expenses) shall include an adequate
reserve fund for maintenance, repairs and replacements of those common elements that
must be replaced on a periodic basis and shall be payable in regular installments rather
than by special assessments.
19.5
Condominium dues or charges (common element expenses) shall include an adequate
reserve fund for maintenance, repairs and replacements of those common elements that
must be replaced on a periodic basis and shall be payable in regular installments rather
than by special assessments.
19.6
Any agreement for professional management of the condominium project or any other
contract providing for services of the developer, sponsor or builder may not exceed two
(2) years. Any such agreement must provide for termination by either party without
cause and without payment of a termination fee on ninety (90) days or less written notice.
19.7
All taxes, assessments and charges which may become liens prior to the first mortgage
under local law, shall relate only to the individual condominium unit and not to the
condominium project as a whole.
19.8 No provision of the condominium constituent documents gives a condominium unit
owner or any other party priority over any rights of the first mortgagee of any condominium
unit pursuant to its mortgage in the case of distribution to such unit owner of insurance
proceeds or condemnation awards for losses or the taking of condominium apartments and/or
common elements.
27
ARTICLE 20. MISCELLANEOUS
20.1
Severability.
In validity of an covenant, restriction, agreement, undertaking or other provision of any
condominium document or Exhibit thereto shall not effect the validity of the remaining
portions thereof.
20.2
Incorporation.
Exhibits attached hereto and referred to herein are hereby made a part hereof with the
same force and effect as other provisions of this document; provided that, wherever
specifically provided, modification of certain Exhibits shall not be deemed an amendment
of this Declaration.
IN WITNESS WHEREOF, this Declaration has been executed this ______ day of
_______________, 1984
TGA DEVELOPMENT INC.
By:________________________
Title _______________________
SATE OF IOWA
)
ss.
COUNTY OF POLK)
On this _____ day of _________________, 1984, before me, the undersigned a Notary
Public in and for said County and State, personally appeared ___________________________
and _________________________, to me personally known, who being by me duly sworn, did
say that they are the ________________________ and_________________________________
respectively, of said corporation executing the within and foregoing instrument, that (no seal has
28
been procured by the said) (the seal affixed thereto is the seal of said) corporation; that said
instrument was signed (and sealed) on behalf of said corporation by authority of its Board of
Directors; and that the said ______________________ and _____________________________
as such officers acknowledged the execution of said instrument to be the voluntary act and deed
of said corporation by it and by them voluntarily executed.
_________________________________
NOTARY PUBLIC IN AND FOR SAID
COUNTY AND STATE
29
That part lying below elevation 34.00 feet (City of Des Moines Datum) together with that part
lying above elevation 63.00 feet (City of Des Moines Datum) and all lying within the following
described property:
Lots One, Two, Ten, Eleven and Twelve and the vacated portion of the North/South alley
adjacent to and between said Lots One and Two and said Lots Eleven and Twelve and the
vacated portion of the East/West Alley adjacent to and between said Lots Ten and Eleven
of Block 24, all in TOWN OF FORT DES MOINES, an Official Plat, all now included in
and forming a part of the City of Des Moines, Polk County, Iowa,
Excepting therefrom that part lying between elevations 63.00 feet and 64.00 feet (City of Des
Moines Datum) and lying within the following described tract:
Commencing at the Northeasterly corner of said Lot 12, the pint of beginning; thence
Westerly along the Northerly line of said Lot 12 a distance of 46.82 feet; thence
deflecting to the left, at an angle of 45 degrees 00 minutes 00 seconds, 122.10 feet;
thence deflecting to the left, at an angle of 45 degrees 00 minutes 00 seconds, 45.25 feet;
thence deflecting to the left, at right angles, 45.25 feet; thence deflecting to the left, at an
angle of 45 degrees 00 minutes 00 seconds, 123.88 feet to the Easterly line of said Lot
12; thence Northerly along the Easterly line of said Lot 12, 43.99 feet to the point of
beginning and there terminating.
Subject to easements and restrictions of record, if any.
EXHIBIT A
That part lying between elevations 34.00 feet and 63.00 feet (City of Des Moines Datum) lying
within the following described property:
Lots One, Two, Ten, Eleven and Twelve and the vacated portion of the North/South
Alley adjacent to and between said Lots One and Two and said Lots Eleven and Twelve
and the vacated portion of the East/West Alley adjacent to and between said Lots Ten and
Eleven of Block 24, all in TOWN OF FORT DES MOINES, an Official Plat, all now
included in and forming a part of the City of Des Moines, Polk County, Iowa;
Together with that part lying between elevations 63.00 feet and 64.00 feet (City of Des Moines
Datum) and lying within the following described tract:
Commencing at the Northeasterly corner of said Lot 12, the point of beginning; thence Westerly
along the Northerly line of said Lot 12 a distance of 46.82 feet; thence deflecting to the left, at an
angle of 45 degrees 00 minutes 00 seconds, 122.10 feet; thence deflecting to the left, at an angle
of 45 degrees 00 minutes 00 seconds, 45.25 feet; thence deflecting to the left, at right angles,
45.25 feet; thence deflecting to the left, at an angle of 45 degrees 00 minutes 00 seconds, 123.88
feet to the Easterly line of said Lot 12; thence Northerly along the Easterly line of said Lot 12,
43.99 feet to the point of beginning and there terminating.
Subject to easements and restrictions of record, if any.
EXHIBIT D
ARTICLES OF INCORPORATION
OF
THE PLAZA CONDOMINIUM ASSOCIATION
The undersigned, acting as incorporator of a corporation pursuant to the provisions of the
Iowa Non-profit Corporation Act, under Chapter 504A of the Code of Iowa, adopts the following
Articles of Incorporation for such condominium.
ARTICLE I
The Corporation shall be known as The Plaza Condominium Association and its principal
offices shall be located in Des Moines, Polk County, Iowa.
ARTICLE II
The existence of this Corporation shall commence with the date these Articles are filed
with the Secretary of State, and the period of its duration is perpetual.
ARTICLE III
A..
The purpose and objective of the Corporation is to provide an entity to act as a
“Condominium Management Association” within the meaning of Section 528 of the
Internal Revenue Code of 1954 to conduct the business and affairs of, and to act as or for,
the co-owners of that horizontal property regime (condominium) created and submitted,
pursuant to the provisions of Chapter 499B of the Code of Iowa, known as The Plaza, a
Condominium (hereinafter sometimes referred to as “regime”) and to be located on the
real estate situated in Polk County, Iowa described on Exhibit A attached hereto.
B.
The Corporation shall have all powers and purposes granted or implied to a council of coowners under the provisions of Chapter 499B of the Code of Iowa and as are granted or
implied by the Declaration of Condominium establishing said condominium regime, and
all of such powers shall constitute lawful purposes of the Corporation.
C.
The purposes of the Corporation are exclusively not for private profit or gain and no part
of its activities shall consist of carrying on political propaganda or otherwise attempting
to influence legislation, and the Corporation shall make no distribution of income to its
members, directors or officers.
D.
The Corporation shall have unlimited power to engage in and do any lawful act
concerning any and all lawful businesses for which corporations may be organized under
this Act and consistent with the provisions herein.
1
EXHIBIT E
ARTICLE IV
The address of the initial registered office of the Corporation is William C. Knapp II and
the name of its initial registered agent at such address is 3521 Beaver Avenue, Des Moines, Iowa
50310.
ARTICLE V
The members of this Corporation shall be those persons described as members in the
Bylaws of the Corporation. The voting rights of the members shall be as provided in the
Declaration of Condominium and the Bylaws of the Corporation.
ARTICLE VI
The number of directors constituting the initial Board of Directors of the Corporation is
three (3). The names and addresses of the persons who are to serve as the initial directors are:
NAME
ADDRESS
Ted Glasrud, Jr.
151 East County Road B-2
St. Paul, MN 55117
Steven La Berge
151 East County Road B-2
St. Paul, MN 55117
R. Michael Knapp
3521 Beaver Avenue
Des Moines, IA 50310
The terms of office of the initial Board of Directors shall be until successor Directors shall have
been elected and shall have qualified. Until the terms of the initial Board of Directors expire,
they shall be subject to removal only by The Plaza Condominium Association as provided in the
Declaration and Bylaws. Thereafter, a Director may be removed from office at a special meeting
of the members of the Corporation in such manner as may be provided in the Bylaws. Persons
other than members of the Corporation may be members of the Board of Directors.
ARTICLE VII
The initial Bylaws of the Corporation and amendments thereto shall be adopted by its
initial Board of Directors, but the power to thereafter alter, amend or repeal the same or adopt
new Bylaws is reserved to the members of the Corporation, subject to the restrictions contained
in the Declaration.
2
EXHIBIT E
ARTICLE VIII
In the event of liquidation, assets of the Corporation, if any remain, shall be distributed to
the members in accordance with their proportionate share of undivided interests in the common
elements existing in the condominium regime, as determined by the Declaration and the Bylaws.
ARTICLE IX
All transfers, conveyances, leases, mortgages or assignments of real estate or of ay
interest therein shall be executed by ay two of the following officers: President or Vice President
and Secretary or Treasurer. All transfers, conveyances, leases or encumbrances of personal
property or any interest therein shall be executed by any officer of the Corporation or any agent
authorized by the Board of Directors. All judgments or other liens shall be satisfied, discharged,
released or assigned by any officer of the Corporation.
ARTICLE X
Neither the members, the Board of Directors, nor their private property shall be liable for
corporate debts, obligations or undertakings.
ARTICLE XI
Any purported amendment to these Articles of Incorporation in conflict with or contrary
to the provisions of the Declaration of Condominium, including supplements and amendments
thereto, which submit lands and units to the regime, shall be void and of no force and effect.
ARTICLE XII
The name and address of the incorporator is Gerard D. Neugent, 222 Equitable Building,
Des Moines, Iowa.
Dated at Des Moines, Iowa, this _____ day of ________________________, 1984.
_______________________________
Gerard D. Neugent
3
EXHIBIT E
STATE OF IOWA
)
ss.
COUNTY OF POLK)
On this ______ day of _____________________, 1984, before me, a Notary Public in
and for the State of Iowa, personally appeared Gerard D. Neugent, to me known to be the person
named in and who executed the foregoing Articles of Incorporation and acknowledged that he
executed the same as his voluntary act and deed.
4
EXHIBIT E
BYLAWS
OF
THE PLAZA CONDOMINIUM ASSOCIATION
AN IOWA NON-PROFIT CORPORATION
1.
IDENTITY
The following shall and do constitute the Bylaws of The Plaza Condominium
Association, a non-profit corporation, hereinafter called the Association. The Bylaws are
subject to the Condominium Declaration of The Plaza, a Condominium, hereinafter
referred to as the Declaration. The Association has been organized for the purposes of
administering The Plaza, a Condominium organized under the Iowa Horizontal Property
Act.
Terms used in these Bylaws shall have the same meaning ascribed by the Declaration.
The term “majority of members,” as used herein, shall mean 51% or more of the votes in
accordance with the percentages assigned in the Declaration to the units for voting
purposes.
2.
MEMBERS
The qualification of members and the manner of their admission into the Association
shall be as follows:
a.
A unit owner in The Plaza, a Condominium, shall by virtue of such interest be a
member of this Association.
b.
If more than one person is an owner of the same unit, all such owners shall be
members and remain jointly and severally liable for all membership obligations,
in such cases, or if more than one fiduciary or other official is acting in the
premises, the votes entitled to be cast by the owner of that unit shall be cast by the
person named for that purpose on a certificate signed by all such owners or
fiduciaries or other officials and filed with the Association, and such person shall
be deemed to hold ownership units appurtenant to such unit for purposes of voting
and determining the representation of such voting and determining the
representation of such ownership units at any meeting or for purposes otherwise
provided herein. If such certificate is not executed and filed with the Association,
such membership shall not be in good standing and the votes appurtenant to that
unit shall not be considered in determining a quorum of any vote or for any other
purpose until this Bylaw is complied with. Any certificate properly filed with the
Association shall continue in full force until the revoked.
EXHIBIT F
2
3.
c.
It shall be the duty of each unit owner to register with the Secretary of the
Association, the fact of ownership, and the address of the owner. The
owner shall register with the Secretary of the Association the name of any
tenant which occupies the unit. The Secretary shall maintain a Roll of
Members (Roll). Failure of a unit owner to register shall not affect any
obligation of such unit owner under the Declaration, Bylaws and Rules
and Regulations.
d.
The share of a member in the funds and asset of the Association cannot be
assigned, pledged, encumbered or transferred in any manner, except as an
appurtenance to a unit in the condominium.
MEMBERS’ MEETINGS AND VOTING:
a.
Transfer of Declarant Control. The Declarant as identified in the Declaration
retains control of the Association as limited by the Declaration. In no event shall
the period of Declarant Control exceed a period ending five years after the first
conveyance of a unit to a unit owner other than Declarant or sixty days after the
conveyance of 90% of the units in the Condominium to unit owners other than the
Declarant, whichever is earlier.
b.
As soon as practicable after the conveyance of 75% of the units to unit owners
other than Declarant, the Declarant shall notify all members of the Association of
a meeting of the Association to be held no later than sixty days after the
conveyance of 75% of the units to unit owners other than Declarant. At such
meeting, at least one-third of all members of the Board of Directors of the
Association shall be elected by unit owners other than the Declarant.
c.
Prior to the first annual meeting of members, there shall be a meeting of the
Association at least once a year.
d.
Except for the first annual meeting, the annual meeting of members shall be held
on the second _____________________ in ____________________ in every
year following the year in which Declarant control terminates and at such time
and place as is specified by the Board of Directors for the purpose of
electing the Board of Directors and transacting any appropriate other business.
e.
Special meetings of the members may be called at any time by the President, or
the Vice President, or by the Board of Directors, and must be called by the
President upon receipt of written requests from a majority of the members.
EXHIBIT F
3
f.
Notice of all meetings of the members stating the time and place and the objects
for which the meeting is called shall be given by the secretary. The Secretary
shall, at least twenty-one days in advance of any annual meeting or regularly
scheduled meeting, and at least seven days in advance of any other meeting, send
to each member notice of the time, place and complete agenda of the meeting.
The notice shall be sent by United States mail to all members of record at the
address of their respective units and to other addresses as any of them may have
designated to the Secretary.
g.
Only members shown on the Roll as of the date of meeting shall be entitled to
attend and vote, except that the mortgagee of any unit may attend and participate
in any general or special meeting but shall have no vote unless granted by written
proxy.
h.
A quorum at meetings of the members shall consist of a majority of the voting
power of the Association computed in accordance with the percentage as set forth
in Exhibit “A” attached to the Declaration. The members present at a duly
organized meeting may continue to transact business until adjournment,
notwithstanding the withdrawal of enough members to leave less than a quorum.
i.
Any meeting may be adjourned to another time and place without further notice.
j.
All unit owners of a unit shall collectively have that percentage vote set forth in
Exhibit E to the Declaration. Where there is more than one unit owner of a unit,
any one thereof may cast the vote allocated to that unit. In the event that there is a
dispute among such unit owners, the matter shall be referred to the Board of
Directors who shall decide by whom the vote is to be cast, and such decision will
be final.
k.
No vote in the Association shall be deemed to inure to any unit during the time
when the owner thereof is the Association.
l.
Votes may be cast in person or by written proxy. Proxies must be filed with the
Secretary before the appointed time of the meeting and shall be valid until
revoked in writing.
m.
If any meeting cannot be organized for lack of a quorum, the meeting shall be
adjourned from time to time until a quorum is present.
n.
When a quorum is present at any meeting, any question brought before the
meeting shall be decided by a majority of the voting power present in person or
by proxy unless the question is one where a different vote is required y express
provision of law, the Declaration or these Bylaws.
EXHIBIT F
4
o.
At the beginning of each meeting, the Secretary shall render and certify the Roll
showing a list of all the members entitled to vote at such meeting, the percentage
voting power of each and the name of the person entitled to cast each such
member’s vote by virtue of a certificate of proxy then in effect.
p.
There shall be no cumulative voting.
q.
The order of business at the annual meetings of the members and as far as is
practical at all other meetings of members shall be:
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
r.
4.
Election of chairman of the meeting if there is no Association President
or Vice President.
Calling of the roll and certifying of proxies.
Proof of notice of meeting or waiver of notice.
Reading and disposal of any unapproved minutes.
Reports of officers.
Reports of Committees.
Appointment of tellers for election.
Election of Directors.
Unfinished business.
New business.
Adjournment.
Conduct of each meeting shall be governed by Robert’s Rules of Order, Revised.
BOARD OF DIRE TORS:
a.
During the period of Declarant Control, the Board of Directors shall consist of
three (3) persons. Thereafter the Board of Directors shall consist of five (5)
persons. The term of office of three (3) directors elected at the first annual
meeting shall expire at the third annual meeting and the term of office of two (2)
directors elected at the first annual meeting shall expire at the second annual
meeting. Candidates for the Board positions shall be identified as candidates for
one or two year terms. Thereafter, at the expiration of the term of office of each
director , his successor shall be elected to serve for a term of two years.
b.
Directors shall hold office until their respective successors have been elected.
c.
Nominations for all available directorships shall be taken before voting. Only
one vote shall be taken, and those nominees receiving the most number of votes
shall be elected so a to fill the number of directorships. At the first annual
meeting the candidates for director shall be divided into two classes, the one year
term and the two year term. All members must vote for the number of directors to
be elected.
EXHIBIT F
5
d.
A Director may be removed by a sixty percent (60%) vote of the members of the
Association at a special meeting noticed for that purpose. The vacancy so created
shall be filled by the persons entitled to vote at the same meeting.
e.
Regular meetings of the Board of Directors may be held at such time and place as
shall be determined from time to time by a majority of the Directors. Written
notice of regular meetings shall be given to each Director personally or by mail, at
least seven (7) days prior to the date established for such meeting unless such
notice is waived in writing.
f.
Special meetings of the Board of Directors may be called by the President and
must be called by the Secretary at the written request of one-third (1/3) of the
Directors. Not less than seven (7) days written notice of any special meeting shall
be given personally or by mail, which notice shall state the time, place and
purpose of the meeting.
g
.Any Director may in writing waive notice of a meeting before r after the meeting
and such waiver shall e deemed equivalent to the giving of notice.
H
.A quorum at a Director’s meeting shall consist of a majority in number of the
Directors. The accts of the Board approved by a majority at a meeting at which a
quorum is present shall constitute the acts of the Board of Directors. If during any
meeting of the Board of Directors there should be less than a quorum present, the
majority of those present may adjourn the meeting from time to time until a
quorum is present. A quorum must be present at any time business is being
transacted. At an adjourned meeting any business which might have been
transacted at the meeting as originally called may be transacted without further
notice.
i.
The presiding officer of a meeting of the Directors shall be the President, and in
his absence the Vice President. In the absence of the President and Vice
President, the majority in number of the Directors may designate one of their
number to preside.
j.
Directors shall receive no compensation for their services, provided, however,
they are entitled to reimbursement for expenses which are authorized by the
Board.
k.
Any action that could be taken at a meeting of the Board of Directors may be
taken without a meeting when authorized in writing by all of the Directors.
EXHIBIT F
6
5.
POWERS AND DUTIES OF THE BOARD OF DIRECTORS:
a.
All of the powers of the Association, including those existing under the common
law, statutes, the Articles of Incorporation and those powers designated for the
Association by the act and the documents establishing the condominium, shall be
exercised by the Board of Directors. Such powers shall include, but shall not be
limited to, the following:
(1)
To elect annually the officers of the Association.
(2)
To prepare and render to the members, on or before December 1, of each
year beginning with the year 1984, a proposed budget for the fiscal year
beginning the following January 1, showing anticipated income and
operating expenses, including reasonable reserves. A copy of such
proposed budget shall be given to each unit owner not later than
December 1.
(3)
To submit at each annual meeting of the members a statement of the
business transacted during the preceding year, a report of the general
financial condition of the Association and its tangible property. This
statement and report may be incorporated in an Annual Report, which the
Directors shall also prepare and provide to the members. The Annual
Report shall contain, at a minimum, the following:
(a)
A statement of any capital expenditures in excess of 2% of the
current budget or $5,000.00, whichever is the greater, anticipated
by the Association during the current year or succeeding two fiscal
years;
(b)
A statement of the status and amount of any reserve or replacement
fund and any portion f the fund designated for any specified
project by the Board of Director;
(c)
A copy of the statement of financial condition for the Association
for the last fiscal year;
(d)
A statement of the status of any pending suits or judgments in
which the Association is a party;
(e)
A statement of the insurance coverage provided by the
Association; and
(f)
A statement of any unpaid assessments by the Association on
individual units, identifying the unit number and the amount of the
unpaid assessment.
EXHIBIT F
7
(4)
To make and collect assessments to pay common expenses.
(5)
To use the proceeds of assessments in the exercise of its powers and
duties.
(6)
To maintain, repair, and replace the common elements, including the
limited common elements.
(7)
To restore improvements after damage except as provided for in the
Declaration.
(8)
To establish and amend rules and regulations respecting the use of
Property.
(9)
To enforce by legal means the provisions of the Condominium
Documents, the Articles f Incorporation, the Bylaws of the Association
and the Rules and Regulations for the use of the Property.
(10)
To contract for management of the Property and to delegate to such
management powers and duties of the Association except such powers and
duties as the Condominium Documents or the Act require approval of the
Board of Directors or the membership of the Association.
(11)
To purchase such policies of insurance as required by the Declaration,
and such other policies as it deems appropriate.
(12)
To purchase and own personal property for use in the common
elements.
(13)
To pay common expenses.
(14)
To employ personnel at a reasonable compensation to perform
the services required for proper administration of the purpose of the
Association.
(15)
To fill vacancies in the Board by a vote of the majority of the
remaining Directors at a special meeting of the Board held for that purpose
promptly after the occurrence of any such vacancy. Each person so
elected shall be a Director for the remainder of the term of the Director
replaced.
(16)
To implement the provisions contained in the Declaration of Easements.
EXHIBIT F
8
6.
b.
The Board shall make and file all elections and documents required in order to
exempt from taxation, insofar as possible, the income of the Association
consisting of assessments paid by Owners.
c.
It shall be the duty of the Board to cooperate and communicate with the
Commercial Owners Association which governs the condominium known as
COMMERCE AT THE PLAZA.
OFFICERS;
a.
The officers of this Association shall be a President, who shall be a Director,
a Vice President, a Treasurer, and a Secretary. Each officer shall be a member of
the Association or an officer or an agent of a corporate Association member and,
except for the President, may or may not be a member of the Board of Directors.
Each officer shall be elected annually by the Board of Directors and may be
peremptorily removed by vote of the Directors at any meeting. The Board of
Directors shall from time to time elect such other officers and designate their
powers and duties as the Board shall find to be required to manage the affairs of
the Association.
b.
The President shall be the chief executive officer of the Association. The
President shall have all of the powers and duties which are usually vested in the
office of the President of a corporation, including, but not limited to, the duty to
preside at all Directors and members meetings, and the general supervision over
other officers and the affairs of the Association. Two officers, at least one of
whom shall be the President or Vice President, shall execute all contracts,
agreements and obligations of the Association except as such authority may be
otherwise delegated by resolution of the Boar of Directors.
c.
The Vice President shall in the absence or disability of the President exercise the
powers and perform the duties of the President. The Vice President shall also
generally assist the President and exercise such other powers and perform such
other duties as shall be prescribed by the Directors.
d.
The Secretary shall keep the minutes of all proceedings of the members. The
Secretary shall attend to the giving and serving of all notices to the members and
Directors and other notices required by law. The Association shall have no
corporate seal. The Secretary shall keep the records of the Association, except
those of the Treasurer, and shall perform all other duties incident to the office of
Secretary of a corporation and as may be required by the Directors or the
President.
EXHIBIT F
9
e.
The Treasurer shall have custody of all intangible property of the Association,
including funds, securities and evidences of indebtedness and shall give bond in
such sum and with such sureties as the Directors may require. The Treasurer shall
(1) keep the assessment rolls and accounts of the members, (2) keep the books of
the Association in accordance with good accounting practices and shall submit
them together with all his vouchers, receipts, records and other papers to the
Directors for their examination and approval as often as they may require, and (3)
deposit all monies and other valuable effects in the name of or to the credit of the
Association in such depositories as may be designated by the Board of Directors
and shall disburse the funds of the Association as ordered by the Board and shall
perform all other duties incident to the office of Treasurer. If a managing agent or
manager be employed, the Board of Directors may designate some or all of the
foregoing functions to be entrusted to him or it subject to bonding and subject to
overseeing control by the Treasurer.
f.
Officers of the corporation shall receive no compensation for their services in
such capacity, provided however they are entitled to reimbursement for expenses
which are authorized by the Board.
7.FISCAL MANAGEMENT;
a.
All funds and the titles of all properties acquired by the Association, and the
proceeds thereof, after deducting therefrom the costs incurred by the Association
in acquiring the same, shall be held for the benefit of the members for the
purposes stated in the Declaration and herein.
b.
The depositories of the Association shall be such financial institutions as shall
be designated from time to time by the Directors and in which the monies of the
Association shall be deposited. Withdrawal of monies from such accounts shall
be only by instruments signed by such persons as are authorized by the Directors.
c.
The books, accounts and records of the Association shall be open to inspection
by any Director at all times. Members of the Association shall have the right to
inspect the books, accounts and records of the Association during reasonable
business hours.
d.
An audit of the accounts of the Association hall be made annually by a public
accountant and a copy of the report shall be available for inspection by each
member not later than May 1 of the year following the year for which the report is
made.
e.
Fidelity bonds may be required by the Board of Directors for all officers and
employees of the Association and from any contractor handling or responsible for
Association funds. The amount of such bonds shall be determined by the
Directors. The premiums on such bonds may be paid by the Association.
EXHIBIT F
10
f.
8.
Payment vouchers shall be approved by the officer or officers designated by the
Board of Directors, or authority to approve vouchers may be delegated to the
manager at the discretion of the Board of Directors.
ASSESSMENTS:
Unless otherwise specified, the term “Assessments” includes annual and special common
expense assessments.
Assessments shall be levied in accordance with the Declaration by a majority vote of all
of the members of the Board of Directors of the Association, in each instance supported by a
budget and paid by the members to the Association in accordance with the following provisions:
a.
All owners of a unit shall be jointly and severally liable for the common expense
which are assessed against the unit.
b.
All sums collected by the Association as assessments may be commingled in a
single fund.
c.
All assessments, both annual and special, shall become a lien on the unit on the
date they become payable in December of the year preceding that for which the
assessments are payable, and special assessments shall be made at such other
additional times as in the judgment of the Board of Directors, additional common
expense assessments are required for the proper management, maintenance and
operation of the condominium. Such annual assessments shall be payable in
equal monthly installments beginning with January 1 and on the 1st day of each
month thereafter. Special assessments shall be due and payable as determined by
the Board of Directors. If an annual assessment is not made, there shall be an
assessment in the amount of the last prior annual assessment which shall be
payable as above set forth.
d.
Annual assessments shall be made in advance on or before the second Monday
in December of the year preceding that for which the assessments are payable,
and special assessments shall be made at such other additional times as in the
judgment of the Board of Directors, additional common expense assessments are
required for the proper management, maintenance and operation of the
condominium. Such annual assessments shall be payable in equal monthly
installments beginning with January 1 and on the 1st day of each month thereafter.
Special assessments shall be due and payable as determined by the Board of
Directors. If an annual assessment is not made, there shall be an assessment in
the amount of the last prior annual assessment which shall be payable as above set
forth.
EXHIBIT F
11
9.
e.
The assessments against all units shall be set forth upon the roll which shall be
available in the office of the Association for inspection at all reasonable times by
members or their duly authorized representatives. Such roll shall indicate for
each unit the name, address and interest of the member, the assessments or other
obligations owing to the Association and the amounts of all assessments or other
obligations which are unpaid.
f.
Assessments and installments thereof paid on or before fifteen (15) days after
the date when payable shall not bear interest or penalty, but all sums not paid on
or before fifteen (15) days after the date when payable shall bear interest and/or
penalty as determined by the Association to the extent permitted by law from the
date when payable until paid. All payments upon account shall be applied first to
interest and/or penalty and then to the assessment payment first payable. All
interest and penalties collected shall be credited to the Common Expense
Account.
COMPLIANCE AND DEFAULT:
Each member shall be governed by and shall comply with the terms of the Declaration,
Bylaws and Rules and Regulations adopted pursuant thereto as any of the same may be amended
from time to time. A default shall entitle the Association or other members to the following
relief:
a.
Failure to comply with any of the terms of the Declaration, Bylaws or Rules
and Regulations adopted pursuant thereto, shall be grounds for relief which may
include, without intending to limit the same, to an action to recover sums due for
damages, injunctive relief, foreclosure of lien, or any combination thereof, and
which relief may be sought by the Association or if appropriate, by an aggrieved
member.
b.
In the event any installment of an annual or special assessment is not paid
when payable, the Board shall have the right and duty to attempt to secure
payment thereof, and expenses of collection including attorneys’ fees shall be
included in the assessment lien on the unit. The Board shall have the right and
duty to recover the unpaid assessments, interest and penalties by remedies
provided by law, and these Bylaws, the Declaration and Rules and Regulations.
c.
In any proceeding arising because of an alleged default by a member, the
prevailing party shall be entitled to recover the costs of the proceeding and such
reasonable attorneys’ fees as may be determined by the Court.
d.
The failure of the Association or of a member to enforce any right, provision,
covenant or condition which may be granted by the Declaration or Bylaws shall
not constitute a waiver of the right of the Association or member to enforce such
right, provision, covenant or condition in the future.
EXHIBIT F
12
10.
e.
All rights, remedies and privileges granted to the Association or a member,
pursuant to any terms, provisions, covenant or conditions of the Declaration or
Bylaws shall not be deemed to be cumulative, and the exercise of any one or more
shall not be deemed to constitute an election of remedies.
f.
.Failure to enforce any provision of the Declaration, Bylaws or Rules and
Regulations shall not constitute a waiver or limit the enforceability of such
provisions on any subsequent occurrences.
AMENDMENTS:
These Bylaws may be amended only upon the affirmative vote of sixty-six and two-thirds
percent (66-2/3%) of the percentages assigned in the Declaration to the units for voting purposes,
except as provided in Article 18 of the Declaration.
11.
RULES AND REGULATIONS:
The Board of Directors of the Association or the membership of the Association may
promulgate rules and regulations, provided, however, that copies of such rules and regulations
shall be given to each unit prior to the time that the same become effective.
12.
INDEMNIFICATION OF OFFICERS AND DIRECTORS:
The Association shall, to the extent such liability is not covered by insurance, indemnify
every director and officer, his heirs, executors and administrators, against all loss, cost and
expense, including attorneys’ fees, reasonably incurred by him in connection with any action,
suit or proceeding to which he may be a party by reason of his being or having been a director or
officer of the Association, except as to matters as to which he shall be finally adjudged in such
action, suit or proceeding to be liable for gross negligence or willful misconduct. In the event of
a settlement, indemnification shall be provided only in connection with such matters covered by
the settlement as to which the Association is advised by legal counsel that the person to be
indemnified has not been guilty of gross negligence or willful misconduct in the performance of
his duty as such director or officer in relation to the matter involved. The foregoing rights shall
not be exclusive of other rights to which such director or officer may be entitled. All liability,
loss, damage, costs and expenses incurred or suffered by the Association by reason of, arising
out of or in connection with the foregoing indemnification provisions shall be common expenses,
provided, however, that nothing in this section shall be deemed to obligate the Association to
indemnify any member who is or has been a director or officer of the Association, with respect to
any duties or obligations assumed or damage or liabilities incurred by him solely in his capacity
as a unit owner.
13.
SEVERABILITY:
If any part of these Bylaws shall be ruled invalid or ineffective for any reason
whatsoever, the balance sheet shall nevertheless remain in full force and effect.
EXHIBIT F
13
14.
GENERAL PROVISIONS:
a.
The invalidity of any portion or provision of these Bylaws shall not affect the
validity of the remaining provisions or portions hereof.
b.
The Association shall not have a corporate seal.
c.
The Board of Directors may require fidelity bonds from all directors, officers, or
agents handling or responsible for Association funds and the expense of such
bonds shall be a common expense of the Association.
d.
The Association shall at all times maintain complete and accurate written records
of each unit and owner and the address of each, and setting forth the status of all
assessments, accounts and funds pertinent to that unit and owner. Any person
may rely on a certificate made from such records by an officer or agent of the
Association as to the status of all assessments and accounts.
e.
Each member shall have the obligations as such member as are imposed upon him
by the Condominium Documents as an owner, and no member shall have any
power or authority to incur a mechanic’s lien or other lien effective against the
Property, except as the same may attach only against his appurtenant interest
therein and be removable as such.
f.
The Board of Directors may in its discretion issue written evidence of
membership but the same shall be evidence thereof only and shall in no manner
be transferable or negotiable, and the share of the member in the assets of the
Association cannot be assigned, hypothecated, or transferred in any manner
except as an appurtenance to such assignment, hypothecation, or transfer of the
unit.
g.
No provision or restriction otherwise void by reason of application of the rule
against perpetuities of Section 558.68 of the Code of Iowa shall continue for a
period longer than the life of the last to survive of the owners and shareholder of
the developer and their children in being at the time of the initial recording of the
Declaration of Condominium to the Regime and twenty-one (21) years thereafter.
h.
Each owner or the lessee of his unit as applicable shall have a right to use and
enjoy the common elements provided such use shall be limited to the uses
permitted by the Declaration of Condominium and other governing documents of
the Regime.
EXHIBIT F
14
The undersigned certifies that the foregoing Bylaws were adopted as the Bylaws of the
Plaza Condominium Association, a non-profit corporation under the laws of the State of Iowa, by
action of its Board of Directors at the first meeting thereof effective ______________________.
___________________________________
Secretary
The Plaza Condominium Association
STATE OF IOWA
)
ss.
COUNTY OF POLK)
The foregoing instrument was acknowledged before me this _____ day of
________________________, the Secretary of The Plaza Condominium Association, a
____________________________ non-profit corporation, on behalf of the corporation.
_________________________________
NOTARY PUBLIC IN AND FOR SAID
COUNTY AND STATE
EXHIBIT F
15
STATEMENT CONCERNING SKYWALK AGREEMENT
The Declarant, TGA Development, Inc., entered into a Skywalk Agreement with the City
of Des Moines, which agreement is recorded in Book 5229, at Page 310 through 404 inclusive of
the Polk County, Iowa records. This agreement does not create a personal obligation, but rather
an obligation running with the land. This Skywalk Agreement affects the skywalk level of the
COMMERCE AT THE PLAZA, a Condominium, (the Commercial Condominium).
The Skywalk Agreement create certain rights which become defined easements at such
time as skywalk bridge are connected to the building. The Skywalk Agreement provides for four
possible connections: two to the south, one to the east and one to the west. The connections to
the east and to the south may occur after the Declarant has conveyed all units in the building, and
such connections shall be the responsibility of Declarant’s successors.
The Plaza Condominium Association (Residential Association) has certain obligations in
connection with costs of repair, replacement and construction of skywalk bridges and corridors
by Declaration of Easements.
7.
THE PLAZA CONDOMINIUM ASSOCIATION PROPOSED ANNUAL
OPERATING BUDGET YEAR ENDING FEBRUARY 28, 1986 AND CALCUATION OF
ASSESSMENTS TO UNIT OWNERS
(Note: Place above sheet in this order).
RULES AND REGULATIONS
FOR
RESIDENTIAL AND GARAGE UNITS
AT
THE PLAZA, A CONDOMINIUM
SECTION I
1.1) No portion of a residential unit (other than the entire unit) may be rented, and no
transient tenants may be accommodated.
1.2) Rental leases for all units must be supplied to the Board of Directors within 10
days of execution.
1.3) No business activity, sale or profession of any kind, commercial, religious,
educational or otherwise, designed for profit or otherwise, shall be permitted in the residential
units.
1.4) Each Owner or Occupant shall comply with all applicable laws, ordinances, and
regulations and shall save the Association and other Owners and Occupants harmless from all
fines, penalties, costs and prosecutions for any violation thereof.
1.5) No garbage cans, trans barrels or other obstructing personal property shall be
placed in the Common Areas and Facilities, nor shall anything be hung or shaken from the
windows or balconies. No clothes, sheets, blankets, laundry or any other kind or articles shall be
hung out of an Apartment or exposed to the Common Areas and Facilities or the Limited
Common Areas and Facilities or to the streets adjoining the Property. No accumulation of
rubbish, debris or unsanitary material shall be permitted in the Common Areas and Facilities
except in the designated trash storage areas. No vehicles, toys or other personal property shall be
stored in the Common Areas and Facilities or balconies, except in the storage areas wich are
designated by unit numbers and are to be used exclusively by the Owners or Occupants of the
unit bearing the same numbers.
1.6) Balconies must be used with concern for neighbors and persons passing below the
building. Safety and comfort of persons on the street, deck or balcony below must be of utmost
concern to residents at all times.
1.7) All drapes, drapery lining, or other window treatment visible to the exterior of the
building shall be of a neutral color.
1.8) Only outdoor carpeting may be used as floor covering, except that other suitable
outdoor materials may be used with prior approval of the Board. Only outdoor-type furniture is
acceptable.
1.9) Plants must be in heavy containers which cannot be upset by wind. Plants must
be tended so no liquid, dirt or debris escapes from the balcony.
1.10) Grills must be covered to prevent flying ash or coals. Kettle type grills or electric
char-broilers are recommended.
1.11) Bird feeding by any method is prohibited to prevent unsightly droppings and
damage to other residents or passersby.
1.12) No shades, awnings, hammocks, or window guards shall be used on the balconies
except as shall be approved by the Association.
1.13) All refuse shall be placed in properly tied plastic garbage bags, not exceeding
twenty-five (25) pounds per bag in weight, and disposed in the rubbish chute. All loose papers
and boxes shall be crushed into tight bundles. If the rubbish consists of packing cartons or
crates, the Owner shall arrange with the manager for pickup of such packing cartons or crates.
1.14) No Owner shall send any employee of the Association on any private business of
the Owner.
1.15) All damage to the property caused by the moving and/or carrying of articles
therein shall be paid by the Owner or Person in charge and shall be in addition to the regular
move-in and move-out charge of $25.00. (See Section 1.37)
1.16) Hallways, sidewalks, stairways, elevators, and other portions of the Common
Areas shall not be obstructed or used for any other purposes than for ingress to and ingress from
the Unit.
1.17) No noxious or offensive activity shall be carried on in any Unit, or in the
Common Areas and Facilities; either willfully or negligently, which may be or become
annoyance or nuisance to the other Owners or Occupants. No Owner or Occupant shall make or
permit any disturbing noises to be made on the Property, including those related to Ownercontracted construction in or improvements to units (except during weekdays from 8:00 a.m. to
6:00 p.m. and Saturdays from 9:00 a.m. to l:00 p.m.) by family, friends, tenants, service people,
or other invitees. Nor shall Owners or Occupants do or permit anything to be done by such
persons that will interfere with the rights, comforts, or convenience of the other Owners or
Occupants. No Owner or Occupant shall play or allow to be played any musical instrument,
radio, television, phonograph, tape recorder or the like between the hours of 9:00 p.m. and the
following 8:00 a.m. if the same may be heard outside of the Unit where such item is being
played.
1.18) Each Owner shall keep his Unit in a good state of cleanliness. No refuse or
private property shall be placed by the Owner, Occupant, or his tenant or service people in the
Common Areas and Facilities except as shall be approved by the Building Manager.
1.19) The water closets and other water apparatus shall not be used for any purpose
other than for which they were constructed, and no sweepings, rubbish, rags, paper, ashes or
other substance shall be thrown therein. Any damage to the property of others, including the
Common Areas and Facilities, resulting from misuse of such facilities, of any nature or character
whatever, shall be paid by the Owner of the Unit.
1.20) Water shall not be left running any unnecessary length of time in any Unit or in
the Common Areas and Facilities.
1.21) No Owner or Occupant shall interfere in any manner with any portion of the
heating or lighting apparatus in or about the Property.
1.22) No radio, television or other antennae shall be installed by the Owner or Occupant
anywhere on the Property.
1.23) Owners and Occupants shall not place identification or other signs in any place in
the building, except as shall be approved by the Building Manager.
1.24) All radio, television or other electrical equipment of any kind or nature installed
or used in any Unit shall fully comply with all rules, regulations, requirements or
recommendations of the Board of Fire Underwriters and other public authorities having
jurisdiction. Each Owner shall be liable for any damage or injury caused by any radio, television
or other electrical equipment in such Owner’s Apartment.
1.25) Owners shall close all windows when necessary to avoid possible damage from
storm, rain or freezing.
1.25) Owner, Occupants, or their employees or guests shall not at any time enter upon
the roof of the Building.
1.27) Nothing shall be done or kept anywhere on the Property which will increase the
rate of insurance for the Property or contents thereof. No Owner shall permit anything to be
done or kept in his Apartment or in the Limited Common Areas and Facilities which will result
in a cancellation or increase in the cost of insurance on the Property or contents thereof, or which
would be in violation of any law.
1.28) No “For Sale”, “For Rent”, or “For Lease” signs or other window displays or
advertising shall be placed on any part of the Property except as provided for on the lobby
bulletin board.
1.29) No Owner shall alter, impair, or remove any item from the Common Areas and
Facilities or the Limited Common Areas and Facilities without prior written consent of the
Association. No Owner shall paint, stain, or otherwise change the color of any exterior portion
of the Building.
1.30) No additional building, tent or structure of any kind shall be placed, erected, kept
or maintained on the Property.
1.31) Unless the Association gives advance written consent in each instance, Owners
and Occupants shall not install or operate in an Unit any machinery, refrigerating or heating
device or air conditioning apparatus, except for common household appliances, or use or permit
to be brought into the Property any gasoline or other explosives or inherently dangerous articles.
1.32) The Association shall retain an extra key for your unit. It will be used only for
emergency entry. Manager will release it only when requested to do so by your signed written
release form for one-time specific issue to a delivery person or guest. Manager will not
accompany any person to your Unit.
1.33) The agents or the Association and any contractor or workman authorized by the
Association or its agent, bearing proper identification, may enter any Unit at any reasonable hour
of the day, after notification to the Owner or Occupant (except in case of emergency), for the
purpose of correcting any condition which presents a danger of loss or damage to the Property or
injury or death to any person.
1.34) No Owner or Occupant or any guest or agent of any Owner or Occupant shall be
permitted to tip any employee or agent of the Association.
1.35) At all meetings of the Board of Directors, Owners may, by written notice, place
matters on the agenda for consideration by the Board. Any such written notice, in order to be
effective, must be delivered to the President, Vice President or Secretary of the Association at
least two (2) business days prior to the date of the meeting of the Board and must be signed by
Owners who own at least thirty-three and one third percent (33-1/3%) of the undivided interests
in the Common Areas and Facilities, as defined in the Declaration.
1.36) The time needed for each move-in and move-out of the building must be reserved
with the Manager. Manager must be given at least 24 hours notice, as reservations are limited to
the availability of the elevators.
1.37) Each move-in and each move-out of the building is assessed $25.00 payable to the
Association to handle costs incurred. Cost includes security of the open door,
clean-up of lobby, elevator and hallways. Owner must provide the Plaza
Association with a completed tenant questionnaire and signed affidavit by
prospective tenant of their receipt of The Plaza Rules and Regulations and
agreement to abide by those Rules and Regulations. The two forms must be
supplied to the Plaza office and fees paid seven (7) days prior to the move-in.
Manager must be given 24 hours notice of either move-in or –out (original movein after construction excluded from move-in fee).
PENALTY
Failure to provide the two completed forms and moving fees seven (7) days prior to the
move will result in a $75.00 fine. Additional fine of $25.00 per month will be assessed
until compliance.
1.38) Emergency doors may never be propped open or used for any purpose except to
exit from the building. Stairway fire doors must be kept closed at all times.
1.39) Do not admit anyone from the lobby when you enter the building. They must
Be allowed entrance only by the Occupant they are visiting.
1.40) Inappropriate games or activities such as: roller skating, skateboarding, bicycle
riding, etc., will not be allowed in the garage area, entrance or Plaza.
1.41) Pets shall be permitted only upon the prior written approval by the Board of
Directors of the Association with respect to each unit and each pet, and they only upon such
conditions as the Board of Directors may established in each instance and from time to time.
SECTION II
REGULATIONS FOR WHIRLPOOL, SAUNA, EXERCISE ROOM
OUTDOOR POOL, TENNIS COURTS AND PARTY ROOM
2.1)
No furniture (other than that provided) shall be used or removed from the above
areas.
2.2) Radios (except battery operated with ear plugs), television sets, tape recording or
playing device and all other similar devices shall not be used in the whirlpool, sauna, exercise
room, outdoor pool and tennis court area.
2.3) Users of the recreational facilities are responsible for taking away with them
When they leave all articles they bring to the area. The Association shall store personal articles
found on the premises for 30 days and shall dispose of those unclaimed articles remaining after
30 days. The Association assumes no responsibility for personal property left in the whirlpool
area, sauna, exercise room, outdoor pool or tennis court area.
2.4) No running, pushing or scuffling shall be permitted in the whirlpool and outdoor
Pool areas. There shall be no splashing of water.
2.5)
Voices shall be kept at normal conversational levels.
2.6) No life rafts, toys or other floating devices or objects shall be permitted in the
whirlpool and outdoor pool areas.
2.7)
Showers shall be taken before entering the whirlpool and outdoor pool
2.8) All hairpins and other such materials shall be removed before entering the
Whirlpool and outdoor pool.
2.9) No persons under the age of sixteen (16) shall be permitted in the whirlpool,
sauna, exercise, party room, outdoor pool areas unless under the supervision of an adult.
2.10) No tobacco, food, alcoholic beverages or controlled substances, and no glass
containers of any kind shall be permitted in the sauna, whirlpool and exercise room. All persons
using the recreation facilities are responsible for keeping it clean and presentable.
2.11) Full swimming trunks or swimming suits shall be worn in the whirlpool, sauna
and outdoor pool. Whirlpool, sauna and outdoor pool users shall don appropriate robes and
footwear when in transit between their Unit and respective area.
2.12) No children under the age of six (6) shall be allowed in the whirlpool.
TENNIS COURT RULES
2.13) Only tennis shoe footwear is permitted, no hard sole shoes are allowed.
2.l4) Proper tennis apparel is required at all times on the courts. Shirt tops are
required for men.
2.15) No glass containers are permitted in the court areas.
2.16) Morning start times will be posted at the court. No play is allowed prior
to posted morning hour. Play shall be allowed until sunset.
2.17) Reservation for peak tennis court usage times may be made in advance
With the management office. Daily reservation schedule will be posted at the courts. During
times when court reservations are not required, limit play when others are waiting to 1 hour for
singles and 1-1/2 hours for doubles.
2.18) No foul language or shouting permitted.
2.19) No pets shall be allowed in any recreational facility.
2.20) The recreational facilities are for the exclusive use of all Owners, Occupants
and their guests. Owners and Occupants are responsible for the conduct of their guests. No
Owner or Occupant shall invite more than four (4) guests at one time to use the whirlpool, sauna,
pool or exercise room. No person may attempt the exclusive use of any recreational area. An
owner or Resident must accompany any guests throughout their stay in these areas.
2.21) All persons shall comply with the reasonable requests of the Association
Respecting matters of personal conduct in or about any recreational facility.
2.22) All persons using the pool tennis courts, whirlpool, sauna and exercise
Room do so at their own risk.
2.23) Hours for use for indoor facilities are from 8:00 a.m to midnight.
2.24) Hours for use of the outdoor pool are from 8:00 a.m. to 10:00 p.m.
SECTION III
GENERAL
3.1) Complaints regarding services provided by the Association or the operation
of the property shall be made in writing to the Association.
3.2) An Owner or Occupant may apply to the Association for a temporary waiver
of one or more of the foregoing rules and regulations. Such temporary waiver may be granted by
the Board for good cause shown, if, in the Board’s judgment, such temporary waiver will not
interfere with the rights of other Owners.
3.3) The Association shall make such other Rules and Regulations from time to time
as may be deemed necessary for the safety, care and cleanliness of the Property and for securing
the comfort and convenience of all of the Owners and Occupants.
SECTION IV
GARAGE AND PARKING AREA REGULATIONS
4.1) No Owner’s vehicle shall be parked anywhere on the property except in the
Owner’s designated parking space in the garage.
4.2) No vehicle belonging to an Owner or member of his family or guest, tenant
employee of Owner shall park in such a manner to impede or prevent ready access to any garage
unit or other parking spaces. Each Owner, his employees, servants, agents, visitors, licensees
and family shall obey all parking regulations posted by the Association in the garage and any
other traffic regulations promulgated by the Association in the future for the safety, comfort and
convenience of the Owners and others using the property.
4.3) No Owner shall cause or permit the blowing of any horn from any vehicle in
which he, his guests, family, tenants, invitees or employees are Occupants, anywhere on the
property except as may be necessary for safe operation thereof.
4.4) No vehicle in a non-operative condition shall be left standing anywhere on the
property except in Owner or Occupant’s garage unit(s). No repair work or vehicle washing shall
take place on any part of the property without permission of the Building Manager.
4.5) No Owner shall use, nor shall he permit his family, guests, tenants, or invitees to
use garage stalls or other Owners without the permission of that Owner.
4.6) No commercial trucks, buses or vans may park in The Plaza entrance area without
written permission of the Manager.
4.7) Vehicles may park in the loading dock facilities with the prior written permission
of the manager. Those vehicles parked without permission may be subject to 4.9.
4.8)
No person shall be allowed to rollerskate, skateboard, etc., in the garage area.
4.9) The Association reserves the right to remove any vehicles parked in an
unauthorized place or manner at the expense of the respective Owners thereof.
THE PLAZA, A CONDOMINIUM
INSURANCE PROGRAM
I.
General
The information which follows briefly summarizes the insurance provided for the benefit
of the Plaza Condominium Owners Association. Coverages are provided in accordance
with the policy terms, conditions and exclusions.
II.
Coverages Provided
Building & Business Personal Property
“All Risk” Perils
Replacement Cost/Coinsurance Deleted
Blanket Amount of Insurance - $20,000,000
Building Glass
Fixtures, Improvements, Alterations & Specific Major Appliances
Unpaid Maintenance Fees - $5,000 each loss
Extra Expense - $5,000
Trees, Shrubs and plants - $250 each/$2,500 aggregate
Liability
Bodily Injury
Employees included as insureds
Host Liquor Liability
Incidental Medical Malpractice
Medical Payments - $1,000 each person
Personal Injury Liability
Tenants Legal Liability
Use of Non-owned Automobiles
Association Directors and Officers Liability - $500,000 each
III.
Who Is Insured
The parties insured as respects commonly owned building(s) and personal property
Include The Plaza Condominium Owners Association; TGA Development, Inc.;
mortgages as their interests may appear.
The comprehensive liability includes as insureds the parties listed in the preceding
Paragraph and, in addition, each Unit Owner, Association employees, Property
Manager.
Association Directors and Officers.
IV
.Unit Owners Insurance
THIS POLICY DOES NOT COVER PERSONAL PROPERTY OF UINIT OWNERS
OR TENANTS INCLUDING SUCH ITEMS AS APPLIANCES, CARPETING,
CABINETS, ELECTRICAL FIXTURES, PLUMBING FIXTURES, HEATING
FIXTURES AND AIR CONDITIONING EQUIPMENT LYING WITHIN THE UNIT
AND ALL SUCH OTHER PROPERTY WHICH FORMS A PART OF THE UNIT AS
DESCRIBED IN ARTICLE 4.2 OF THE DECLARATION OR UNITS OWNERS’ OR
TENANTS’ LIABILITY FOR INJURIES TO OR DAMAGE TO PROPERTY OF
OTHERS. THE PURCHASE OF SUCH INSURANCE IS THE RESPONSIBILITY OF
UNIT OWNER.
V.
Special Note
The insurance referred to herein was in effect at the time of printing. It may be modified
at a later date.
VI
.Insurance Agency
The insurance summarized herein is being provided through:
T. C. FIELD & COMPANY
P.O. Box 64016
St. Paul, MN 55164
Telephone: (612) 227-8405