THIS INDENTURE AND DECLARATION running with the land, made this 7th day of December, 1988, by BENJFRAN DEVELOPMENT, INC., an Oregon corporation ("Declarant"),

 

WHEREAS, Declarant is the owner in fee of certain real property (the "Real Property") described as Crofton Heights, consisting of Lots 1 through 70 (the "Lots") and Tracts A, B, C and D, as recorded in Volume 143 of Plats, pages 77 through 79 inclusive under King County Recorder's number 88-12070221, records of King County, Washington;

WHEREAS, Declarant desires to impose certain protective covenants upon the Real Property for the mutual benefit of all owners, present and future;

NOW, THEREFORE, Declarant hereby declares as follows:

 

1.1 Declaration.  The Lots and Tracts shall be held, sold and conveyed subject to the easements, covenants, conditions and restrictions set forth herein, all of which are for the purpose of enhancing and protecting the value, desirability and attractiveness of the Lots. Such easements, covenants, conditions and restrictions shall run with the land and shall be binding on all parties having or acquiring any right, title or interest in any Lot. They shall inure to the benefit of each owner thereof and are imposed upon each Lot as a servitude in favor of each and every other Lot as the dominant tenement or tenements.

1.2 Term.  This Declaration shall be effective for an initial term, expiring September 30, 2008, and thereafter by automatic extension for successive periods of ten (10) years each, unless terminated, at the expiration of the initial term or any succeeding ten year term by a Termination Agreement executed by the then owners of not less than seventy-five percent (75%) of the Lots then subject to this Declaration.

1.3 Architectural Control Committee. The Architectural Control Committee ("ACC") shall consist of three (3) members who shall be appointed initially by Declarant and remain in office until such time as one hundred percent (100%) of the Lots subject to this Declaration and any Supplemental Declarations have been built upon and conveyed from the original home builder to a buyer. From and after such time the ACC shall be composed of three (3) or more representatives appointed by the Board of the Homeowners' Association.