2008 Road Maintenance

DECLARATION OF RESTRICTIONS

AND STREET AGREEMENT AND DEDICATION FOR

GROVE DALE FARMS

Filed with the Bullitt County Clerk

Deed Book 431 pages 529-534

STREET MAINTENANCE AGREEMENT

AND DEDICATION

Starts on page 532

“The following Agreement and Dedication applies to the area shown on the plat referred to above and designed thereon as streets or roadway:

• The streets referred to above are hereby dedicated as public ingress and egress to and from the lots shown on said plat.
• On or before January 1st of each year the owners of each lot, excluding the developer, shall pay the sum of One Hundred Dollars ($100) for each lot, to the GROVE DALE FARMS MAINTENANCE FUND, for the maintenance and improvement of said streets, street lights, and any common areas in the development.
• The initial Trustee for said Fund shall be….
• The annual maintenance charges may be paid or collected in advance but such sums shall not be expended except for the annual periods for which they are pad, or later annual periods.
• Trustees shall promptly deposit….
• All maintenance charges not paid by the due date shall bear interest at the rate of seven percent (7%) annum from the due date, ….
• The amount of the annual street maintenance charge may be changed by action of two-thirds (2/3rds) of the lot owners, which shall be made of record by the recording of the amendment to this instrument containing the signatures of two-thirds (2/3rds) of the lot owners.
• It is the purpose of the Street Maintenance Agreement that the maintenance of such…
• This Agreement shall terminate in the event such streets are accepted for maintenance by city, county, State or public authority established by law, …
• The books of the proceedings and finances of the trustees shall be open to inspection of and lot owner upon reasonable demand.

• This Agreement and Dedication shall create a binding contractual obligation upon the owners of any lot abutting on said streets, to pay assessment set forth according to the terms hereof, and may be collected by an action at law, …”