Original document: Declaration of Protective Covenants, Conditions and Restrictions for Santa Fe Trail Ranch
Dated: April 20, 1990
Section: Article VII - Amendment to the Declaration
Current Language:
7.1 Amendment. The provisions of this declaration may be amended or terminated, in whole or in part, at any time and from time to time, by an instrument (which instrument may be executed in identical counterparts, in which event all of such counterparts shall be taken as one and the same instrument of amendment) approved as follows:
7.1.1 Until the twentieth anniversary after recording of this Declaration, any amendment to this Declaration will require voting approval of the individual lot owners owning not less than 60% of the individual lots owned by Class A members and 60% of Class B members. Additionally the written approval of 60% of the first mortgages owning first mortgages on individual lots, must be obtained. Any action terminating this Declaration in full or terminating the development scheme established or change the staged or phased schedule of plats and lots, or any action to change the ownership of the common areas shall require the approval by 80% of the lot owners in Class A, 80% of Class B and 66 2/3% approval of all first mortgages. Subsequently to the twentieth anniversary of the recording of this Declaration the above voting requirements shall change to, Class A members, 75%, and first mortgages, 75%.
7.2
Recording of
Amendments.
All amendments to or termination of this Declaration must be recorded
with the Clerk and Recorder and must contain evidence of approval thereof
showing the acknowledged and notarized signatures of all the necessary approving
parties.
Proposed Language:
7.1 Amendment. The provisions of this declaration may be amended or terminated, in whole or in part, at any time and from time to time, by an instrument (which instrument may be executed in identical counterparts, in which event all of such counterparts shall be taken as one and the same instrument of amendment) approved by 51% of Class A members who are voting in person or by proxy at a meeting duly called for this purpose. Any action terminating this Declaration in full or any action to change the ownership of the common areas shall require the approval by 80% of Class A members.
7.2 Recording of Amendments. All amendments to or termination of this
Declaration must be recorded with the Clerk and Recorder and must contain
evidence of approval thereof showing the acknowledged signatures of all the
necessary approving parties.
Summary of Changes:
1. Decrease voting requirement from 60% to the same rate required for increased and special assessments = 51% of members (per §4.3 and 4.4). This also eliminates the 20th anniversary date hike to 75% approval.
2. Eliminate any requirement to obtain approval from First Mortgagees (§7.1.1).
3. Eliminate any requirement to have member signatures notarized (§7.2).
4. Adds requirement for this to be transacted at a duly called meeting of the POA.