THIS ROAD MAINTENANCE AGREEMENT, made this 27th
day of August, 1998 by
and between the undersigned parties, all grantors and
grantees;
WITNESSETH:
WHEREAS, the respective parties hereto are the owners
of the numbered lots following their names situate, lying and being in Section
I, Foxwood,
WHEREAS each of the above lots has appurtenant to it a
non-exclusive easement of right-of-way for the purpose of ingress to and egress
from the said lots over Hunting Lane, Jumping Run Lane and the common areas in
the cul-de-sac at the end of said roads as more particularly shown by plat of
survey of "Foxwood - Section I", Center District, Bedford County, Virginia,
made by John G. Cargill Jr., CL.S., recorded in the Clerk's Office of the
Circuit Court of Bedford County, Virginia, on November 8, 1973, in Plat Book
16, pages 36 and 37; and
WHEREAS, the parties desire to bind themselves,
their successors and assigns for all liabilities and responsibilities for the
repair and maintenance of the aforesaid roads and cul-de-
sacs.
NOW, THEREFORE, in consideration of the premises and
the mutual covenants contained herein, the parties hereby agree as follows:
1. The parties agree for themselves, their heirs,
successors and assigns, to pay the sum of
$_________________ per
year for any tracts that are improved as of the date of this Agreement, and
$_________________ per year for any unimproved tracts as of the date of
this Agreement for the repair and maintenance, including snow removal, of the
aforesaid roads and cul-de-sacs. The yearly assessment may be increased or
decreased by majority vote of the parties, their heirs, successors and assigns
(one vote per lot of land), which vote shall be held at a meeting of the said
landowners held following written notice to all parties, their heirs,
successors or assigns, by mail or delivery in person at least five (5) days
prior to such meeting. The aforesaid notice shall state the time, date, place
and purpose of such meeting, which purpose may be increased or decreased of the assessment, or the making of a binding decision
concerning the repair or maintenance of the roads and cul-de-sacs:
2. A majority vote at a duly held meeting of the said
lot owners shall eject a Committee of three (3) persons which will consist of a
Chairman, Vice-Chairman and a Secretary Treasurer. The Chairman shall preside
at the Annual Meeting and any specially call meetings. The Vice- Chairman shall
preside in the absence of the Chairman. The Secretary Treasurer shall take the minutes
of the meeting. A letter shall be sent to all members thereafter informing them
of the results of the meeting and, in addition, the Secretary Treasurer shall
keep the financial records and shall render an annual financial report to the
lot owners as soon as possible after the close of a calendar year. It shall be
the responsibility of such Committee to collect. keep
and disburse all monies collected for the repair, maintenance and/or
improvements of the aforesaid road and cul-de-sacs. It shall be the Committee's
further responsibility to determine whether repair and/or maintenance,
including snow removal, is needed, and to contract for the making of such
repairs, maintenance or snow removal. In order to be a member of the said
Committee, such member must be a property owner of one or more of the aforesaid
lots. In the event that a member of the Committee cannot fulfill his or her
term of office, the two remaining officers will appoint a member of the
Association to fill the position until the next Annual Meeting at which time members
of the Association will elect a member to fill the remainder of the term of
such member;
3. The Committee will call an Annual Meeting during
the first half of each calendar year, but no later than May 15 of such year.
Advance written notice, at least fourteen (14) days prior to the date of such meeting, shall be sent to all lot
owners informing them as to the time and place of the meeting and subsequent to
the said meeting, the Committee will forward a letter to each member, informing
such member as to decisions reached at the said meeting. At the said meeting,
the Secretary/Treasurer shall report to the lot owners as to the present
financial condition of the Committee;
4. Major improvements to the said roads and cul-de-sacs
such as resurfacing or widening shall be done only after a majority of the lot
owners has approved such action at a duly called meeting held for that purpose.
For the purpose of this paragraph, major improvements shall be deemed to be any
road maintenance work or repairs which will cost in excess of $1500.00.
5. The officers of the Committee are responsible for
arranging for upkeep of the roads and the common areas. No individual member
can take it upon himself or herself to make repairs to the roads or cul-de-sacs
and receive compensation therefore without first obtaining written agreement from
the majority of the members of the said Committee;
6. Annual assessments on the lots owned by the Chainman,
Vice-Chairman and Secretary/Treasurer of the Committee shall be waived for the
period during which such individual serves in that capacity;
7. A quorum of one-third (1/3) of the owners of the
Jots represented hereby must be present in order to constitute a valid meeting.
A majority of the said property owners in attendance, or by proxy, at such
meeting is needed to pass any stated motion. Voting rights are apportioned
according to the number of lots owned. In addition to the Annual Meeting called
by the Committee, specially called
meetings may be called during the year with the approval of two of the three
members of the said Committee or with the approval of twenty-five percent (25%)
of the lot owners. Notice of such meeting must be given to all members in
writing more than fourteen (14) days prior to any specially called meeting;
8. This Agreement may be amended at the Annual Meeting
or at any specially called meeting. A quorum of the majority of the property
owners shall be required for voting on amendments. Amendments shall be passed
by a two-thirds (2/3) vote of the members in attendance, or by proxy, at said
meeting. Proposed amendments must be provided to the Jot owners with the
fourteen (14) day notice of the said meeting;
9. If any of the Jot owners. or
their heirs, successors or assigns, fail to pay any assessments properly imposed
hereunder by June 30 of the year in which such assessment is imposed, then, in
addition to such assessment. there shall be paid a ten
percent (10%) penalty. If such assessment and penalties is not paid in full by
July 31 of such year, then such assessment and penalties shall thereafter bear
interest at the maximum rate allowed by law from July 3 I of such year until
paid. The Committee shall be entitled to bring an action against any Jot owner
who fails to pay any assessment, penalty and interest, by July 31 of such year
and shall be entitled to recover such assessment. penalty,
interest and costs and reasonable attorney fees incurred in so doing;
] O. This Agreement shall be admitted to record in the
Clerk's Office of the Circuit Court of Bedford County, Virginia, and shall be
binding upon all parties hereto and upon their heirs, successors and assigns. This Agreement shall terminate
if and when the aforementioned roads and cul-de-sacs are taken into the State
Highway System.