Declaration - Article XIV

Skybrige Declaration

ARTICLE XIV

ANNEXING ADDITIONAL PROPERTY

14.01 Add-On and Annex to the Property. Declarant and its successors and assigns hereby reserve the right and option, at any time and from time to time, within ten (10) years from the date of the recording of this Declaration, to add-on and annex to the Property, and thereby add to the condominium created by this Declaration, from time to time, all or any of the real estate described on Exhibit D attached hereto and made a part hereof (which real estate is collectively referred to as the "Additional Parcel") (whether as common elements, limited common elements or units), and in connection therewith to reallocate percentage interests in the Common Elements; by recording an amendment to this Declaration executed by Declarant (every such instrument being referred to as an "Amendment"), which Amendment shall set forth the legal description of the portion of the Additional Parcel to be annexed to the Property and shall otherwise be in compliance with the requirements of the Act. Upon the recording of every such Amendment, the additional portion of the Additional parcel described in such Amendment shall be deemed submitted to the Act and governed in all respects by the provisions of this Declaration, and shall thereupon become part of the Property. No portion of the Additional Parcel shall be subject to any of the provisions of this Declaration unless and until an Amendment is recorded annexing such portion the Property as aforesaid. The Unit Owners shall have no rights whatsoever in or to any portion of the Additional Parcel unless and until an Amendment is recorded annexing such portion to the Property as aforesaid. Upon the expiration of said ten (10) year period, no portion of the Additional Parcel which has not theretofore been made part of or annexed to the Property shall thereafter be annexed to the Property. No portion of the Additional parcel must be added to the Property. Portions of the Additional Parcel may be added to the Property at different times within such ten (10) year period. The structures, improvements, buildings and units on the Additional Parcel will be compatible with the configuration of the Property in relation to density, use, construction and architectural style. Except as may be required by applicable laws and ordinances, there shall be no limitations (i) on the order in which portions of the Additional Parcel may be added to the Property, (ii) on the fixing of the boundaries of portions of the Additional Parcel that may be added to the Property, or (iii) on the location of improvements which may be made on Additional Parcel. The maximum number of Parking Units which shall be created on the Additional Parcel is 300. The maximum number of Storage Units which shall be created on the Additional Property is 50.

14.02 Add-On Amendment.

(a) Each Amendment shall include an amended Exhibit "A" which shall amend Exhibit "A" to this Declaration by setting forth the amended legal description of the Parcel to include that portion of the Additional Parcel annexed to the Property. The Amendment shall also contain an amended Plat to be set forth in an amended Exhibit "B" showing the boundaries of such addition and of the entire Property as amended, and delineating the additional Units, Limited Common Elements and/or Common Elements of such addition, all in accordance with Section 25 of the Act.

(b) Each Amendment shall include an amended Exhibit "C" which shall amend Exhibit "C" hereto by setting forth the amended percentage of the undivided interests in the Common Elements, (as amended and added to by such Amendment) allocated to each Unit (including all previous Units and the additional Units added by such Amendment).

(i) the Common Elements as existing immediately prior to the recording of such Amendment (hereinafter referred to as the "Existing Common Elements"); and

(ii) the Common Elements added by such Amendment (herearfter referred to as the "Added Common Elements").

(d) The Units as amended by such Amendment shall be deemed to consist of:

(i) the Units as existing immediately prior to the recording of such Amendment (hereinafter referred to as the "Existing Common Elements"); and

(ii) the Units added by such Amendment (hereinafter referred to as the "Added Units").

14.03 Procedure for Adjustment of Percentages. The percentages of undivided ownership interest in the Common Elements as amended by each Amendment, and as set forth in the amended Exhibit "C", shall be determined and adjusted in the following manner:

(a) The Value (as defined below) of each of the Added Units shall be added to the aggregate Value of the Existing Units, and the total thereof shall be deemed to be the new Value of the Property as a whole. "Value" as used in this Section shall be determined by the Developer as of the date of recording of the Amendment. Such determination by the Developer shall be conclusive and binding upon all Unit Owners, mortgagees and other parties who then or in the future have any interest in the Property.

(b) The percentage of undivided ownership interest, as amended and adjusted by such Amended Declaration, in the entire Common Elements, consisting of the Existing Common Elements, plus the Added Common Elements, to be allocated among all the Units, consisting of the Existing Units plus the Added Units, shall be computed on the basis of the Value of each Unit in relation to the Value of the Property, determined as aforesaid.

(c) The Existing Units shall be entitled to their respective percentages of ownership, as amended and adjusted and set forth in the amended Exhibit "C" attached to such Amended Declaration, in the Added Common Elements as well as in the Existing Common Elements.

(d) The Added Units shall be entitled to their respective percentages of ownership, as set in such amended Exhibit "C", not only in the Added Common Elements but also in the Existing Common Elements.

(e) Each and all of the provisions of this Declaration and the Exhibits attached hereto, as amended by each such successive Amendment and the amended Exhibits attached thereto, shall be deemed to apply to each and all of the Units, including all such Added Units as well as all Existing Units, and to all of the Common Elements, including all such Added Common Elements as well as all Existing Common Elements.

(t) The recording of an Amendment shall not alter or affect the amounts of any liens for common expenses due from the owners of any Existing Units prior to such recording, nor the respective amount theretofore assessed to or due from Existing Unit Owners for common expenses or other assessments.

14.04 Adjustment of Liens. The lien of any mortgage encumbering any Existing Unit, together with its appurtenant percentage of undivided ownership interest in the Existing Common Elements, shall automatically be deemed to be adjusted and amended when an Amendment is recorded, in accordance with the respective percentage of undivided ownership interest in the Common Elements for such Existing Unit as set forth in the amended Exhibit "C" attached to such Amendment, and the lien of such mortgage shall automatically attach in such percentage to the Added Common Elements.

14.05 Consent to Add-On Provision. Each and all of the Unit Owners of all Existing Units and of all Added Units, and their respective mortgagees, grantees, heirs, administrators, executors, legal representatives, successors and assigns, by their acceptance of any deed or mortgage or other interest in or with respect to any of such Units, shall be deemed to have expressly agreed, assented and consented to each and all of the provisions of this Declaration with respect to the recording of any and all Amendments as aforesaid which may amend, adjust and reallocate from time to time their respective percentages of undivided ownership interest in the Common Elements, including the Existing Common Elements and Added Common Elements, from time to time as herein above provided; and hereby further agree to each and all of the provisions of each and all of said Amendments which may hereafter be recorded in accordance with the foregoing provisions of this Declaration.

14.06 General Provisions. Each and all of the Unit Owners of all Existing Units and of all Added Units, and their respective mortgagees, grantees, heirs, administrators, executors, legal representatives, successors and assigns, by their acceptance of any deed ormortgage or other interest in or with respect to any of such Units, further acknowledges, consents and agrees, as to each such Amendment that is recorded, as follows:

(a) The portion of the Additional Parcel added to the Property in an Amendment shall be governed in all respects by the provisions of this Declaration, as amended.

(b) The percentage of ownership in the Common Elements appurtenant to each Unit shall automatically be shifted and reallocated to the extent set forth in each such recorded Amendment, and upon the recording of each such Amendment, the amount by which such percentage appurtenant to a Unit is reduced, as set forth in each recorded Amendment, shall thereby be deemed to be released and divested from such Unit Owner and reconveyed and reallocated among the other Unit Owners as set forth in each such recorded Amendment.

(c) Each deed, mortgage or other instrument affecting a Unit shall be deemed given subject to the conditional limitation that the percentage of ownership in the Common Elements appurtenant to each Unit shall, upon the recording of each Amendment, be divested pro tanto to be reduced percentage set forth in such amendment and vested among the other Owners, mortgagees and others owning an interest in all Units in accordance with the terms and percentages of each such recorded Amendment.

(d) A right of revocation is hereby reserved by the grantor in each such deed, mortgage or other instrument of a Unit to so amend and reallocate the percentages of ownership in the Common Elements appurtenant to each Unit.

(e) The percentage of ownership in the Common Elements appurtenant to each Unit shall include and be deemed to include any additional Common Elements annexed hereto by a recorded Amendment, and each deed, mortgage or other instrument affecting a Unit shall be deemed to include such additional Common Elements, and the ownership of any such Unit and the lien of any such mortgage shall automatically include and attach to such additional Common Elements as such Amendments are recorded.

(f) Each Owner shall have a perpetual easement, appurtenant to his Unit, for the use of any additional Common Elements annexed thereto by, and described in, any recorded Amendment, for the purposes therein set forth, except as to any portion the use of which is limited by exclusive easements granted to the Owners of specific Units as may be provided in any such Amendment, or this Declaration, and except as to any portion which may be designated as Limited Common Elements.

(g) Declarant reserves the right to amend this Declaration in such manner, and each Owner agrees to execute and deliver such documents necessary or desirable, to cause the provisions of this Section 36 to comply with the Act, as it may be amended from time to time.

(h) The foregoing provisions of this Declaration, and provisions in deeds and mortgages of the Units and Common Elements, contain and will contain clauses designed to accomplish a reallocation of the percentage ownership of the Common Elements. None of said provisions shall invalidate the other, but each shall be deemed supplementary to the other toward the end that a valid reallocation of the percentage ownership of the Common Elements can be accomplished.