Author: Dan & Jeannette

Restrictive Covenant

THIS AGREEMENT made the ______ day of _______________, 2015, between 401049 Alberta Ltd. (the Grantor) and Dunvegan Summer Village (the Grantee).

WHEREAS the Grantor is the developer of the land legally described as Units One (1) thru Forty (40), Plan 152 1924, to be sold to the purchasers of such units (unit owners) by the Grantee.

AND WHEREAS it is the intention of the Grantee to have a time limit and a limit on the size and location of structures on each unit lot.

The Grantee covenants with the Grantor to observe and comply with the following restrictions, the burden of which shall run with Units One (1) thru Forty (40) on Condominium Plan Number 152 1924. These covenants shall be binding on and enure to the benefit of the respective heirs, executors, administrators, successors and assigns of the parties.

1.0	RESTRICTIVE COVENANTS

1.1	No building or improvement shall be constructed or placed on a unit except in compliance with the following:

1.1.1	The Land Use Bylaw of the Municipal District of Fairview No. 136 from time to time in force and effect;

1.1.2	The provisions of any Easement or Utility Right of Way respecting the Units;

1.1.3	The provisions of these Restrictive Covenants; and

1.1.4	The provisions of a Development Permit issued for the specific building or improvement issued by the Municipal District of Fairview No. 136 and the Architectural Review Committee (ARC). Any such building or improvement shall consist of a permanent dwelling not less than six hundred (600) square feet in area in accordance with ARC guidelines.

1.2	No unit shall remain undeveloped for a period exceeding eight (8) years from the date the original title was created by the registration of the Condominium Plan. A development shall consist of the approval of a site plan for a residence to be located on the unit together with other improvements by both the Municipal District of Fairview No. 136 and ARC. Construction must commence within the eight (8) year period and there will be a two (2) year limit on the completion of the exterior of a building from the commencement of construction.

1.3	When a unit owner owns more than one unit development must commence on at least one of the units within the eight (8) year period. Should a holiday trailer or recreational vehicle be used as a temporary
accommodation or a change of ownership of an additional undeveloped unit take place the condition of commencement of construction within eight (8) years takes immediate effect. Additional, undeveloped units must be

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maintained and will be subject to the same rights, restrictions and responsibilities as the primary unit. .

In the event the conditions in this covenant are not met as specified a five percent (5%) levy based on the original purchase price may be assessed by the condominium corporation that is incorporated with the registration of the Condominium Plan (hereinafter referred to as the “Condominium Corporation”) annually until the development complies. This levy shall become a legal debt due at the time of assessment and shall constitute a valid charge against the lands.

1.4	 Dunvegan Summer Village is a bare land subdivision and unit owners and any person(s) occupying a unit are bound by and will obey the Condominium By-Laws as amended by the Condominium
Corporation from time to time.

1.5	A potable water supply will not be guaranteed or provided and it is the responsibility of the unit owners to provide their own source of potable water.

1.6	The disposal of sanitary sewage is restricted to individual holding tanks. Unit owners are responsible for ensuring that all sanitary sewage effluent is hauled off site to an approved waste water treatment facility and are responsible for all related costs.

1.7	These Restrictive Covenants are designed to protect and maintain the value of the units within the subdivision and to ensure that unit owners are not affected negatively by other’s activities. Therefore no activities are permitted that may become an annoyance or nuisance to other unit owners and no units may be kept in such a state that they present as unsightly when viewed from the subdivision road or from adjoining properties.

2.0	GENERAL

2.1	The Condominium Corporation, if it is a successor in title to the Grantee, may enforce these covenants against an owner that is a successor in title to the Grantor, but not against the Grantor itself, by way of a special assessment or levy which shall constitute a charge against the land comprising a unit and which may be registered against the title to a unit as the Condominium Corporation sees fit and is legally permitted to do.

2.2	The Grantor shall not be liable to the owner or owners of any unit or units or to their successors in title for the enforcement of any of the Restrictive Covenants contained herein or in the event that any or all of the foregoing Restrictive Covenants are judged to be unenforceable by a court of competent jurisdiction.

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2.3	Notwithstanding anything to the contrary herein, the Grantor shall have the
power from time to time in their sole discretion to waive, release, amend, and alter any of the foregoing Restrictive Covenants, provided such waiver, release, amendment, or alteration, in the sole discretion of the Grantor, will not significantly detract from the intent of this Agreement or the general character of the units. This right shall no longer be in effect when the Grantee no longer retains ownership of one of the units being developed from the Lands.

2.4	In this document words importing singular import plural and vice versa and words importing the masculine import the feminine and neuter as the context or the party may require and vice versa and headings of clauses are for reference only and do not affect meaning or interpretation.

2.5	This agreement shall enure to the benefit of and be binding upon the parties and their respective successors and assigns.

IN WITNESS WHEREOF we have hereunto signed names and affixed our seals this ______ day

of _________________, 2016.

Grantees:	DUNVEGAN SUMMER VILLAGE CONDOMINIUM PLAN NO. 152 1924

Per:____________________________

Per:____________________________

Grantors:
401049 Alberta Ltd.

Per:____________________________

Per:____________________________

DATED: ________________________