DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR BELGRADE NORTH BUSINESS PARK

1. "Association" shall mean and refer to Belgrade North Business Park Owners Association, Its successors and assigns.
2. "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any Lot which is part of the Properties, including contract buyers, but excluding those having such interest merely as security for the performance of an obligation.
3. “Properties" shall mean and refer to that certain real property hereinbefore described in Exhibit “A" and such additions thereto as may hereafter be brought within the jurisdiction of the Association;
4. "Lot" shall mean and refer to any plot of land shown upon any recorded subdivision of these Properties.
5. "Declarants" shall mean and refer to the undersigned lot owners, their successors and assigns,
6. "Belgrade Investors"' shall mean Belgrade Investors. a Montana Limited Partnership.
   

Every owner of a lol which 1s subject to assessment shall be a member of the Association. Membership shall be appurtenant to and may not be separated from ownership of any Lot which is subject to assessment.

The Association shall ha\le one class of voting membership. The class members shall consist of all Lot Owners. They shall be entitled to one vote for each Lot owned. When more than one person holds an interest in any Lot, all such persons shall be members; however, the vote for such lot shall be exercised as they among themselves determine, but in no event shall more than one vote be case with respect to any one lot.

1. Creation of the Lien and personal Obligation of Assessments. The Declarants for each Lot owned within the Properties hereby covenant, and each owner of any Lot by acceptance of a Deed therefore, whether or not it shall be so expressed in such deed, ls deemed to covenant and agree to pay to the Association:
2. Annual assessments or charges; and
3. Special assessments for capital improvements, such assessments to be established and collected as hereinafter provided.
   
   The annual and special assessments, together with interest, costs and any reasonable attorneys' fees, shall be charged on the land and shall be a continuing lien upon the property against which each such assessment 1smade. Each such assessment, together with interest, costs and reasonable attorneys’ fees, shall also be the personal obligation of the person{s) who was the Owner of such property at the time when the assessment fell due. The personal obligation for delinquent assessments shall not pass to his/her successors in title unless expressly assumed by them.
4. Purpose of Assessments. The assessments levied by the Association shall be used exclusively for weed control, road maintenance, and other uses deemed by the Association to promote the business, health, safety and welfare of the Lot Owners in the Properties.
5. Maximum Annual Assessment Until January 1 of the year immediately following the date of this document, the maximum annual assessment shall be $100.00 per Lot,
6. The Board of Directors. by majority vote, may fix the annual assessment at an amount not in excess of the maximum.
7. From and after January 1 of the year immediately following the date of this document, the maximum annual assessment may be increased each year by not more than 10% above the maximum assessment for the previous year without a vote of the membership.
8. From and after January 1 of the year immediately following the date of this document, the maximum annual assessment may be increased above 10% by a vote of two-thirds (2/3) of the Members of the Association who are voting in person or by proxy at a meeting duly called for this purpose.
9. Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy, in any year, a special assessment for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, paving repair or replacement of capital improvements, including fixtures and personal property related thereto, provided that any such assessments shall have the assent of two-thirds (2/3) of the votes of Members of the Association who are voting in person or by proxy at a meeting duly called for this purpose.
10. Notice and Quorum for any Action Authorized Under, Article III Paragraphs C & D above. Written notice of any meeting called for the purposes of taking any action authorized under Article III, Paragraphs C & D shall be sent to all members not less than thirty (30) days, nor more than sixty (60) days, in advance of the meeting. At the first such meeting called the presence of members or of proxies entitled to cast sixty percent (60%) of all the votes shall constitute a quorum. If the required quorum is not present another meeting may be called subject to the same notice requirement and the required quorum at the subsequent meeting shall be one-half (1/2) of the required quorum at the preceding meeting. No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.
11. Uniform Rate of Assessment. Both annual and special assessments must be fixed at a uniform rate for all Lots and may at the discretion of the Board of Directors be billed and collected on a monthly basis.
12. Date of Commencement of Annual Assessments: Due Dates. The annual assessments provided for herein shall commence as to all Lots on the first day of the month. The first annual assessment shall be adjusted according to the number of months remaining in the calendar year. The Board of Directors shall fix the amount of the annual assessment against each Lot at least thirty (30) days in advance of each annual assessment period. Written notice of the annual assessment shall be sent to every Owner subject thereto. The due dates shall be established by the Board of Directors. The association shall, at the request of a Lot Owner and for a reasonable charge, furnish a certificate signed by a director of the association setting forth whether the assessments on a specified Lot have been paid.
13. Effect of Nonpayment of Assessments: Remedies or the Association. Any assessment not paid within thirty (30) days after the due date shall bear interest from the due date at the rate of 12% per annum. The Association may bring an action at taw against the Owner personally obligated to pay the same, or foreclose the lien against the property.
    

No building, fence, wall or other structure shall be commenced, erected or maintained upon the Properties, nor shall any exterior addition to or change or alteration therein be made until the plans and specifications showing the nature, kind, shape. height, materials, and location of the same shall have been submitted to and approved ln writing by the Building Advisory Committee. The exterior design of all improvements shalt be inharmony with existing structures and topography, taking into consideration the tradeoff between the cost burden to a business versus any negative influence to adjoining property values. (See also Article V1 Paragraphs D, J & K) In the event said Building Advisory Committee fails to be approved or disapprove such design and location within thirty {30) days after said plans and specifications have been submitted to it, approval will not be required and this Article will be deemed to have been fully complied with.

A. Board of Directors: The Board of Directors shall initially be composed of Belgrade Investors. After 60% of the lots have been sold, the property owners shall elect three directors to the Board of Directors. Each director will serve for a 2 year term, except that the first elected term shall be staggered so that one director shall be elected for one year, one director shall be elected for two years and one director shall be elected for three years. After each term, following terms will be 2 years in length. The elected Board of Directors shall at all times be composed of at least three (3) members. Any vacancy which may occur from time to time in the membership of the Board of Directors shall be filled by a majority vote of the Members of the Association. One (1) member of the Board of Directors shall be chosen by the majority of the directors to act as chairman of the Board and one member shall be chosen to act as secretary of the Board.

B. Land Use: Use of the real property shalt be restricted to commercial business; light manufacturing or similar nonresidential uses as set forth in the City of Belgrade Zoning Ordinance as the same applies to the subject property and as approved by the Building Advisory Committee named herein. Residential occupancy within the subdivision is prohibited.

C. Resubdivision: There shall be no further subdivision of any of the Lots. However, two (2) or more parcels may be combined to form a larger parcel.

D. Exterior Storage: There shall be no exterior storage. i.e. including but not limited to: equipment, inventory, inoperable vehicles, machinery, or any container incompatible with the exteriors of existing structures.

E. Construction: Any and all buildings constructed on the real property shall be of a permanent nature. No building shall exceed the Belgrade Zoning Ordinance's prescribed maximum height of thirty-two {32) feet and all buildings shall comply with the State of Montana Building Code and any Belgrade business park zoning codes in effect at the time of construction. No construction may commence until approval of building plans, specifications, parking lot, exterior lighting and landscaping plans have been approved by the Building Advisory Committee as stated in Article IV and Article V Paragraph K and the City of Belgrade. Construction of any single building shall be completed within one (1) year from commencement, unless an extension is granted by the Building Advisory Committee.

F. General Appearance: No buildings or structure shall be permitted to fall into disrepair. All buildings or structures shall at all times be maintained in a state of good repair and shall be adequately painted or otherwise finished. Each business shall be responsible for the reasonable upkeep of their property.

G. Loading Areas: No building shall be constructed upon the real property subjected to this Declaration, which requires a loading area, unless said loading area is located on the sides or the rear of the proposed structure and screened from view. All loading areas shall be paved with asphalt bituminous or concrete.

H. Utilities. All utilities shall be underground.

I. Roads. AII roads and storm water improvements within the public right-of-way shall be maintained by the Property Owners' Association. Each individual lot owner will be responsible for constructing and maintaining storm water drainage system and roads or parking improvements within each lot. The storm drainage systems must be designed to meet the following criteria:

All members of the Association shall be bound by the Certificate of Waiver on the

Plat of Belgrade North Business Park Subdivision. Said Waiver is as follows:

We the undersigned property owners of Belgrade North Business Park Subdivision do hereby waive any rights of protest which we might have regarding the future annexation of the subdivision to the City of Belgrade or to the creation of any future improvement districts. In doing so, we do not waive any rights to comment on, protest, and/or appeal any assessment formula which may be proposed if we believe it to be inequitable. This waiver shall be binding upon the heirs, assigns and purchasers of all tracts within Belgrade North Business Park Subdivision.