AMENDMENT NUMBER 2 TO DECLARATION OF PROTECTIVE
COVENANTS, CONDITIONS AND RESTRICTIONS
A. On March 1, 2002, under King County Auditor number 20020301000982, Kingsley Glen, L L.C., as Declarant filed the Declaration of Protective Covenants, Conditions and Restrictions for Kingsley Glen in connection with the Kingsley Glen Plat recorded on November 12, 2002 under King County Auditor Number 20021112002046 affecting the use of the following legally described property:
COMMENCING AT THE NORTHWEST CORNER OF THE SOUTHWEST 'A OF THE NORTHEAST 14 OF SECTION 34, TOWNSHIP 22 NORTH, RANGE 5 EAST, W M
THENCE SOUTH 00°54'30" WEST ALONG THE WEST LINE OF SAID SUBDIVISION, A DISTANCE OF 407 00 FEET TO THE TRUE POINT OF BEGINNING,
THENCE CONTINUING SOUTH 00°54'30" WEST, A DISTANCE OF 435 00 FEET TO THE SOUTH LINE OF THE SOUTH 145 FEET OF THE NORTH 842 FEET OF SAID SUBDIVISION,
THENCE SOUTH 89°14'57" EAST ALONG SAID SOUTH LINE, A DISTANCE OF 1,125 23 FEET TO THE WEST LINE OF THE EAST 200 FEET OF SAID SUBDIVISION,
THENCE NORTH 00°54'36" EAST ALONG SAID WEST LINE, A DISTANCE OF 145 00 FEET TO THE NORTH LINE OF THE SOUTH 145 FEET OF THE NORTH 842 FEET OF SAID SUBDIVISION,
THENCE SOUTH 8994'57" EAST ALONG SAID NORTH LINE, A DISTANCE OF 200 00 FEET TO THE EAST LINE OF THE SOUTHWEST 'A OF THE NORTHEAST 'A OF SAID SECTION 34,
THENCE NORTH 00°54°36" EAST ALONG SAID EAST LINE, A DISTANCE OF 290 00 FEET TO THE NORTH LINE OF THE SOUTH 145 FEET OF THE NORTH 552 FEET OF SAID SUBDIVISION,
THENCE NORTH 89°14'57" WEST ALONG SAID NORTH LINE, A DISTANCE OF 1,325 24 FEET TO THE TRUE POINT OF BEGINNING,
EXCEPT THE EAST 30 00 FEET THEREOF FOR 144TH AVENUE S E
SITUATE IN THE CITY OF KENT, COUNTY OF KING, STATE OF WASHINGTON
B. On November 27, 2002, Noms Homes, Inc., a Washington Corporation, purchased the entirety of the Lots described above Plat described above and acquired all rights of the original Declarant to act in the role of Declarant for the Plat.
C In accordance with Article 16, Article 12 Section 12.1 and Article 4, of the Declaration, the Declaration can be amended prior to the Transition Date without the approval of any owner or Mortgagee provided the amendment does not materially alter or change an Owner's right of use or materially and adversely affect the security, title and interest of any Mortgagee.
D. As of the time of signing this Amendment, Norris Homes, Inc is a Class B Member, Noms Homes, Inc owns more than 51% of the Lots subject hereto, and Noms Homes, Inc. as the successor Declarant holds in excess of 51% of the voting power of the Association and therefore, the Transition Date has not occurred.
E Pursuant to the CC&R's, Noms Homes, Inc. as owner of Lots and as Successor Declarant has the necessary votes to amend the Declaration during the Development Penod, hereby waives notice of a membership meeting and any requirement to conduct a membership meeting and votes all of Declarant's m favor and approving the following Amendments of the Declaration as follows.
Amendment No. 2
Article 7, Section 7.3 regarding "Annual Assessment" shall deleted in its entirety and replaced with the following:
Article 7, Section 7.3 One-Time Initiation Fee and Annual Assessments
It is understood that all owners of lots within Kingsley Glen will become members of the Kingsley Glen Homeowner's Association, a non-profit corporation organized and existing under the laws of the State of Washington This Association, will provide for the assessment and collection of a one-time initiation fee approximately $250.00 for each Purchaser of a Lot, at closing which will be paid directly to Norris Homes, Inc to partially reimburse Norris Homes, Inc for expenses associated with certain improvements installed by Norris Homes, Inc on behalf of the Association
In addition to the one-time initiation fee, The Association will also assess annual dues and each member is to maintain and improve the common areas of Kingsley Glen The annual dues of the Association are $250 00 per annum until amended and shall be paid to The Kingsley Glen Homeowners Association on a pro rata basis depending on the actual closing date of an owner's purchase of a Lot.
The initial annual assessment shall be $250 00 per Lot commencing on January 1st of each year Each Builder/Lot Owner, upon purchasing from a Developer shall pay the pro rata portion of said assessment. Said annual assessment shall be due on or before January 1st of each year in which the assessment is made. The above referenced annual assessment and all subsequent annual assessments shall be paid to the Homeowners Association who shall then pay for the expenses of the Association as required under the terms of this Declaration. In the event the expenses of the Association are in excess of the assessments collected, then the Builder/Owners who subsequently purchase from the Declarant shall pay the difference to the Association on a pro rata basis as determined by the number of Lots owned by all such Builder/Owners. At such time as there had been sufficient assessments collected by the Association, then said Builder/Owner shall be reimbursed. The Declarant shall not be responsible or liable for the payment of any assessment against any Lot owned by the Declarant.