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HomeMy WebLinkAbout2020-03-10 Recorded Master Deed 127 Marblehead Condominium RETURN: Kathryn M.Morin,Esq. Bk 16943 P i-v 23 3 01.7133 P.O.Box370 015-24--2021 a Plaistow,NH 01865 E-r.s�>c North File No.2020-23 1 7 (Spsoe Abovashis Line Reserved for Reoftof Dttds) MASTER DEED OF 127 MARBLI3314BAD STREIa"1'CONDOMINIUM Seaport Homes,LLC,a Massachusetts limited liability company,with a mailing address of P.O.Box 8225,Bradford,Massachusetts 01835(hereinafter referred to as"Declarant")being the sole owner of certain property situated at 127 Marblehead Street,North Andover,Essex County, Massachusetts,described in Exhibit A hereto(the"Premises'),by duly executing and recording this Master Deed,does hereby submit the Premises to the provisions of Chapter 183A of the General Laws of Massachusetts and proposes to create and does hereby create a condominium ("Condominium"),to be governed by and subject to the provisions of said Chapter 183A,as > amended,and to that end,Declarant does hereby declare and provide as follows: 1. Name. o The name of the Condominium shall be as follows: 127 MARBLEHEAD STREET CONDOMINIUM. 2. Description of Land. The Premises that constitute the Condominium are comprised of that certain parcel of land situated at and currently known as 127 Marblehead Street,North Andover,Essex County, Massachusetts,consisting of approximately 0.103 acres(4,487 square feet)of land,more or less,as c�v shown on the plan entitled"127 Marblehead Street Condominium, 127 Marblehead Street,North Andover MA,01845,Assessor's Map 9 Parcel 46,Prepared for Seaport Homes,LLC,P.O.Box 8225,Bradford,MA 01835"dated 2021-05-21,Scale I"-10'prepared by hanger Engineering. Group,Inc.recorded herewith Sheet I of 2 of which is hereinafter referred to as the"Site Plan". A description of the land on which the Condominium units are located is more particularly described in Exhibit A attached hereto and made a part hereof,which land,buildings and improvements are subject to and have the benefit of easements,restrictions and appurtenant rights of record,or as set forth herein. I "Registry of Deeds"as used in this Master Deed shall mean the Essex North District Registry of Deeds. 3. Description of the Building. The Condominium is comprised of four units(the"Units"and or"Unit"as the context shall require)in one building,being a wood-frame,wood-sided,cement foundation,three-story building with a basement,with no designation. The location of the building containing the Units is as shown on the Site Plan, 4. Designation of the Units and their Boundaries. (a) The Condominium consists of four Units being Unit A,Unit B,Unit C and Unit D as shown as shown on the Site and Building Plans. The designations,locations, approximate areas,numbers of rooms,immediately accessible Common Areas and other descriptive specifications of the Units are set forth in Exhibit B attached hereto,and are shown on the plan entitled"127 Marblehead Street Condominium, 127 Marblehead Street,North Andover MA,01945,Assessor's Map 9 Parcel 46,Prepared for Seaport Homes,LLC,P.O.Box 8225, Bradford,MA 01835"dated 2021-05-21,Scale 1"= 10'prepared by Ranger Engineering Group, lno,recorded herewith Sheet 2 of 2 of which is hereinafter referred to as the"Building Plans" (collectively with the Site PIan,hereinafter referred to as the"Plans'). The Plans show the layout,locations,Unit numbers,and dimensions of said Units as built, and bear the verified statement as required by Massachusetts General Laws,Chapter 183A§8f. (b) The boundaries of each of the Units with respect to the floors,roof,walls, doors and windows thereof are as follows: (i) Floors:The plane of the upper surface of the concrete floor slab. (ii) Roof:The plane of the lower surface of the roof rafters. (iii) Walls,Doors and Windows:As to walls,the plane of the interior surface of the wall studs and/or concrete walls facing the Unit;as to the exterior doors,the unpainted exterior surface thereof;as to the exterior door frames and window frames,the unpainted exterior surface thereof;and as to the windows,the exterior surface of the glass. All storm and screen windows and doors,whether interior or exterior,shall be the property of the owner(the"Owner")of the Unit to which they are attached or attachable and shall be fiunishcd,installed,maintained,repaired and replaced at the sole expense of such Unit Owner, provided,however,that there shall not be any change,replacement or repair of any of the above items without the prior approval of the Board of Trustees(sometimes called the"Board",the `Board of Trustees"and/or the"Condominium Trustees)of The 127 Marblehead Street Condominium Trust(sometimes called the"Condominium Trust!). (c) Each Unit excludes the foundation,structural columns,girders,beams, supporters,perimeter walls,the studs between Units lying inside of the inner surface of the wallboard facing such studs,roofs,ducts,pipes,flues,wires and other installations or facilities for 2 the furnishing of utility services or waste removal which are situated within a Unit,but which serve the other Unit. (d) Each Unit includes the ownership of all utility installations contained therein which exclusively serve the Unit,including without limitation the furnace,air conditioning,water heater,electrical service panel,sump pump(if installed),radon vent(if installed),the fireplace flue and dryer vents and all other utilities or fixtures exclusively servicing that Unit, (e) Each Unit shall have as appurtenant thereto the right and easement to use,in common with the other Unit served thereby,all utility lines and other common facilities which serve it,but which are located in another Unit. (0 Each Unit shall have as appurtenant thereto the right for residents of the Unit and their guests to use the Common Areas and Facilities,as described in paragraph 5 hereof,in common with the other Unit in the Condominium,except for the Limited Common Areas and Facilities described in paragraph 6 hereof which are reserved as exclusive easements for the use of the Unit to which such Limited Common Areas and Facilities appertain. S. Common Areas and Facilities. Except for the Units and Limited Common Areas and Facilities as described in paragraph 6 hereof,the entire premises,including without limitation the land and all parts of ail buildings and all improvements thereon,shall constitute the Common Areas and Facilities of the Condominium (sometimes hereinafter referred to as General Common Areas and Facilities to distinguish them from Limited Common Areas as defined in paragraph 6 hereof).'These Common Areas and Facilities shall consist of and include,without limitation,the following: (a) The land described in Exhibit A,together with the benefit of and subject to all rights,easements,restrictions and agreements of record,insofar as the same may be in farce and applicable. (b) Those portions of the Building that do not constitute Units or limited Common Areas. (c) The exterior landscaping,sidewalks,lights,planters,and other improvements located on the.Land. (d) The foundation,structural columns,girders,beams,supports,perimeter walls,the studs between Units lying inside of the inner surface of the wallboard facing such studs, and roofs. (e) All conduits,ducts,pipes,wires,meters and other installations or facilities for the furnishing of utility services and waste removal including,without limitation,water, sewerage,gas,electricity,television cable,and telephone,which are not located within any Unit or which although located within a Unit serve the other Unit,whether alone or in common with such Unit. 3 (f) Installations of central services,including all equipment attendant thereto, but excluding equipment contained within and exclusively serving a unit. (g) In general,any and all apparatus,equipment and installations cxisting for common use. (h) Such additional Common Areas and Facilities as may be defined in Massachusetts General Laws,Chapter 183A. Subject to the exclusive use provisions of paragraph 6 hereof,the restrictions set forth in paragraph 8 hereof and the reserved rights and easements set forth in paragraphs I I and 12 hereof, each Unit Owner may use the Common Areas and Facilities in accordance with their intended purposes without being deemed thereby to be hindering or encroaching upon the lawful rights of the other Unit Owners, 6. Limited Common Areas and Facilities. The following portions of the Common Areas and facilities are hereby designated Limited Common Areas and Facilities(sometimes referenced as"Exclusive Use Areas"or by the acronym 'EUA')for the exclusive use of one Unit as hereinafter described: (a) Parking Space. Included with and appurtenant to each Unit will be the Parking Space reserved for the exclusive use of each Unit,which shall carry with it the exclusive right and easement to use the same by the Owners of said Unit in a manner consistent with the provisions of this Master Deed,the Declaration of Trust and the Rules and Regulations promulgated pursuant thereto. (b) Storage Space. Included with and appurtenant to each Unit will be the Storage Space reserved for the exclusive use of each Unit,which shall cant'with it the exclusive right and easement to use the same by the Owners of said Unit in a manner consistent with the provisions of this Master Deed,the Declaration of Trust and the Rules and Regulations promulgated pursuant thereto. (i) The Storage Space for Unit A contains an HVAC component that services both Unit A and Unit C and the Storage Space for Unit D contains an HVAC component that services both Unit B and Unit B. Notwithstanding the right of exclusive use for storage purposes appurtenant to Unit A and Unit D respectively,there is appurtenant to Unit C and Unit B respectively the right to access the storage space containing the HVAC component servicing such unit for emergency repairs to such IIVAC component. Access for routine repair and maintenance shall be only upon at least 48-hour advance notice to the Owners of the Unit to which exclusive use for storage is appurtenant. (ii) The Storage Space for Unit B contains a sump pump that benefits all the Units in the condominium. There is appurtenant to Units A,C,and D respectively the right to access the Unit B storage space for purposes of emergency repairs to the sump pump. Access for routine repair and 4 maintenance of the sump pump shall be only upon at least 48-hour advance notice to the Owners of Unit B. (iii) The Storage Space for Unit C contains a sewer line that benefits all the Units in the condominium. There is appurtenant to Units A,B,and D respectively the right to access the Unit C storage space for purposes of emergency repairs to the sewer line. Access for routine repair and maintenance of the sump pump shall be only upon at least 48-hour advance notice to the Owners of Unit C. (c) Decks. Included with and appurtenant to each Unit will be the Decks, reserved for the exclusive use of each Unit,which shall carry with them the exclusive right and easement to use the same by the Owners of said Unit in a manner consistent with the provisions of this Master Deed,the Declaration of Trust and the Rules and Regulations promulgated pursuant thereto,if any. (d) Attic Space. Included with and appurtenant to each of Unit C and Unit D is the"Attic Space"reserved for such Unit as depicted on the Condominium Plans,which in each case shall carry with it the exclusive right and easement to use the same by the Owners of said Unit in a manner consistent with the provisions of this Master Deed,the Declaration of Trust and the Rules and Regulations promulgated pursuant thereto. The said Limited Common Areas and Facilities shall,however,be subject to the restrictions set forth in paragraph 8 hereof and to the reserved rights and easements set forth in paragraphs 1 I and 12 hereof. 7. Percentage Ownership Interest in Common Areas and Facilities. The percentage ownership interest of each Unit in the Common Areas and Facilities has been determined upon the basis of the approximate relation that the fair value of each Unit measured as of the date of this Master Deed bears to the aggregate fair value of all Units,also measured as of the date of this Master Deed,which undivided interest is set forth in Exhibit B hereof. 8. Purpose and Restriction of Use. The purposes for which the building and the Units are intended to be used are as follows: (a) Each Unit shall be used only for residential dwelling purposes. No more than three unrelated individuals shall reside in any Unit,provided,however,that this exclusion shall not apply to related children and/or parents. (b) The architectural integrity of buildings shall be preserved without modification and to that end,without limiting the generality of the foregoing,no balcony or patio enclosure other than as presently exists,skylight,chimney,enclosure,awning,screen,screen door, antenna,sign,banner or other device and no exterior change,addition,structure,projection, decoration or other feature shall be erected or placed upon or attached to any building or attached to or exhibited through a window of the building,and no painting or other decorating shall be done on S any exterior part or surface of the building,unless the same shal l have been approved by the Condominium Trustees in accordance with the provisions of the Condominium Trust and shall conform to the conditions set forth in said Condominium Trust. (c) The Owners of any Unit may at any time and from time to time modify, remove and install nonbearing walls lying wholly within such Unit,provided,however,that any and all work with respect to the modifications,removal and instal tation of interior wails shall be approved by the Building Department of the Town of North Andover and filed with the Board of Trustees. In addition,a certified"as built"plan and any Amendment to the Master Deed shall be recorded with the Registry of Deeds;with all such costs related thereto to be borne by the Unit Owners making such modifications. No modification adversely affecting the structural integrity or the fire rating of the building or Unit shall be made. (d) All use and maintenance of Units,the Common Areas and Facilities and Limited Common Areas shall be conducted in a manner consistent with the comfort and convenience of the occupants of the other Unit. No Unit owner may use or maintain his Unit, Common Areas and Facilities appurtenant thereto or Limited Common Areas in any manner or condition which will impair the value or interfere with the beneficial enjoyment of the other Unit, the Common Areas and Facilities and Limited Common Areas. (e) No Unit or any part of the Common Areas and Facilities or Limited Common Areas shall be,used or maintained in a manner contrary to or inconsistent with the provisions of this Master Deed,the Condominium Trust and the lay-Laws set forth therein (hereinafter the"By-Laws")and the Rules and Regulations of the Condominium adopted pursuant to said By-Laws. (1) The driveway is intended to be used solely for the parking of private passenger vehicles. Only cars and light trucks are permitted to park overnight in the driveway and no vehicle shall be parked in the driveway at any time in a manner or location that impedes the use of the driveway or access to a Unit by any other Unit Owner. (g) Leasing Restrictions:All leases or rental agreements for Units shall be in writing,and of a minimum duration of twelve months.Lessors are required to provide the Association with a copy of the lease,and to otherwise abide by the Rules and Regulations regarding leases,as amended from time to time by the Trustees. All leases for units within the Condominium shall include the following language: This lease is made in all respects subject to the Lessor's obligations created by the Law and by the Condominium Master Deed, Declaration of Trust,Bylaws, Resolutions and Rules and Regulations adopted or to be adopted by the Condominium or its Board of Trustees The parties hereto covenant and agree as follows:The tenant's right to use and occupy the premises shall be subject and subordinate In all respects 10 the provisions of the Condominium Master Deed, Declaration of Trust,Bylaws,Resolutions, and Rules and Regulations. Failure to comply with these provisions maybe deemed a material breach of this lease agreement. Vlolation-by-Tenants, Unit owners are responsible far the violations of the Master Deed, Declaration,Bylaws,and Rules, and Regulations by their tenants, if such violation by a tenant creates a nuisance,the,board may give written notice to the landlord Unit Owner demanding that it evict the tenant from the Unit and 6 the Board may start such proceeding both on behalf of the Association and as attorney for the landlord Unit Owner if the landlord has not filedsuch a suit ivithin thirty(30)days of the giving of such notice. If the Board succeeds in such a suit, the landlord Unit Owner shall be responsible for all costs Incurred, including reasonable atiorney's fees, Each Unit Owner hereby appoints the Board as its attorney-in fact far such purpose,cord such appointment shall be deemed to be Irrevocable and coupled with an interest. The tenant acknowledges his obligations and agrees to abide by the Master Deed, Declaration,Bylaws,and.Rules and Regulations of the Condominium,Rules violation assessments made to the Lessor,due to noncompliance by the Tenant,shall be reimbursed to the Lessor by the Lessee in full upon demand. The Condominium Documents are entrusted and presented herewith to the Tenant and must be returned to the Lessor upon termination of this agreement. A copy of this lease shall be frled by the Unit Owner with the Board of Trustees of Condominium at the following address. 127 Marblehead Street Condominium Trust,cJo Seaport Homes,LLC,P.O.Box 8225, Bradford,Massachusetts 01835. Each lease must contain the following information:the names of all persons that will reside in the unit and the ages of anyone under 18;the year,make,color and plate number of each vehicle to be parked on condominium property;and the name,address and telephone number of an individual who should be contacted in the case of an emergency.Any Unit Owner failing to Fite said lease with the Board prior to occupancy of the Unit Owner's Unit by tenant shall be assessed a penalty set by the other Trustees of the 127 Marblehead Street Condominium Trust for each violation,and shall be responsible for all court and legal costs involved in the collection of the above matter.Nothing shall be done or kept in any Unit which will increase the rate of insurance of the Condominium. (h) No flammable,combustible or explosive fluid,material,chemical,or substance(except such lighting and cleaning fluids as are customary for residential use)may be stored in any unit. Said restrictions shall be for the benefit of each of the Unit Owners and the Condominium Trustees,and shall be enforceable by each Unit Owner and also by the Condominium Trustees. Also,insofar as permitted by law,such restrictions shall be perpetual,and,to that end,they may be extended at such time or times and in such manner as permitted or required by law for the continued enforceability thereof. No Unit Owner shall be liable for any breach of the provisions of this paragraph,except as occur during his or her ownership of a Unit, 9. Rights Reserved to the Condominium Trustees. Upon twenty-four hours advance notice(or such longer notice as the Condominium Trustees shall determine appropriate)to the Unit Owner involved,or immediately in case of emergency or a condition causing or threatening to cause serious inconvenience to the other Unit, the Condominium Trustees shall have the right of access to both Units,the Common Areas and Facilities thereto,and to the Limited Common Areas: 7 (a) To inspect,maintain,repair or replace the Common Areas and Facilities and Limited Common Areas and to do other work reasonably necessary for the proper maintenance or operation of the Condominium. (b) To grant permits,licenses and easements over the Common Areas for utilities,ways and other purposes reasonably necessary or useful for the proper maintenance or operation of the Condominium,including,without limitation the right to create,extinguish,and/or relocate utilities and easements of every character,including without limitation,electric,telephone, sewer and gas line easements,drainage and slope easements,roads,drives,walks and all such other structures and improvements as the Trustees shall deem necessary or desirable for the proper operation and maintenance of the Condominium. 10.The Unit Owners'Organization. The organization through which the Unit Owners will manage and regulate the Condominium is the 127 MARBLEHEAD STREET CONDOMINIUM TRUST(hereinabove and hereinafter referred to as the"Condominium Trust")under a Declaration of Trust of even date to be recorded herewith. Each Unit Owner shall have an interest in the Condominium Trust in proportion to the percentage of undivided ownership interest in the Common Areas and Facilities to which their Unit is entitled hereunder. As of the date hereof,the name of the original and present Trustees of the Condominium.Trust(hereinabove and hereinafter the"Condominium Trustees")are as follows: Seaport Homes,LLC,P.O.Box 8225,Bradford,Massachusetts 0183S. The initial mailing address of the Trust Is 127 Marblehead Street Condominium Trust,clo Seaport Homes,LLC,P.O.Box 8225,Bradford,Massachusetts 01835. The Condominium Trustees have enacted the By-Laws pursuant to and in accordance with the provisions of Chapter 183A. The ANNUAL MEETING of the Trust shall be at 7:30 p.m.on the second Tuesday in June of each year(Trust 5.14.2),or within sixty days prior to or following said date,provided that owners of record are notified of the meeting by U.S.Mail at least fifteen(15)days prior to the meeting date. The FISCAL YEAR of the Trust shall begin on January 1 of each year. It shall be the obligation of the 127 Marblehead Street Condominium Trust to comply with the provisions of the Notice of Decision Site Plan Review Special Permit dated March 10,2020, recorded with the Essex North District Registry of Deeds at Book 16395,Page 46,including without limitation,maintenance obligations regarding permeable pavement and pavers,trash barrel storage,infiltration stone trenching,submittal of an inspection/maintenanee log per the Long-term O&M plan shall be submitted to the Planning Department annually,replacement of landscaping per approved plan in perpetuity,and one-year traffic/parking concern plan submittal to Planning Department. 8 11.Basement for Encroachment, If any portion of the Common Areas and Facilities now encroaches upon any Unit,or if any Unit now encroaches upon any other Unit or upon any portion of the Common Areas and Facilities, or if any such encroachment shall occur hereafter as a result of(a)settling of the buildings,or(b) alteration or repair to the Common Areas and Facilities made by or with the consent of the Condominium Trustees,or(c)as a result of repair or restoration of the buildings or any Unit after damage by fare or other casualty,or(d)as a result of condemnation or eminent domain proceedings,a valid easement shall exist for such encroachment and for the maintenance of the same so long as the building involved stands. 12.Units Owner's Rights and Obligations. (a) All present and future owners,lessees,tenants,licensees,visitors,invitees, servants and occupants of Units shall be subject to,and shall comply with,the provisions of this Master Deed,the Condominium Trust,the By-Laws,the Unit Deed and.the Rules and Regulations of the Condominium adopted pursuant to the By-Laws,as they may be amended from time to time,and the items affecting title to the land as set forth in Exhibit A. The acceptance of a deed or conveyance of a Unit or the entering into occupancy of any Unit shall constitute an agreement that the provisions of this Master Deed,the Condominium Trust,the By-Laws,the Unit Deed and said Rules and Regulations,as they may be amended from time to time,and the said items affecting title to the land,are accepted and ratified by such owner,lessee,tenant,licensee,visitor,invitee,servant or occupant;and all of such provisions shall be deemed and taken to be covenants running with the land and shall bind any person having at any time any interest or estate in such Unit,as though such provisions were recited and stipulated at length in each and every deed or conveyance thereof or lease,tenancy,license or occupancy agreement or arrangement with respect thereto. (b) There shall be no restriction upon any Unit Owner's right of ingress and egress to and from his or her Unit,which right shall be perpetual and appurtenant to unit ownership. (e) Each Unit shall be entitled to vote its appurtenant percentage interest as shown on Schedule B of the Master Deed. (d) Each Unit Owner,including the Declarant,shall be required to pay a proportionate share of common expenses upon being assessed therefor by the Trust. Such share shall be based upon the fair market value of each Unit,taking into account restrictions of record,if any. Commencing with the transfer of the first unit in a building,the Declarant shall be liable for the full fees for the remaining units in the building until the time of their transfer. 13. Amendments. Except as otherwise provided herein,this Master Deed may be amended by an instrument in writing(a)signed by the Owners of Units at the time holding one hundred percent(1001/0)of the total voting power of the Unit Owners,as said voting power is defined in the Condominium Trust, 9 or signed by a majority of the Condominium Trustees,in which case such instrument shall recite that it has been agreed to in writing by Owners of Units at the time holding one hundred per cent (1 a©%)of said total voting power of the Unit Owners,and(b)duly recorded with the Registry of Deeds,provided,that: (a) The date on which any instrument of amendment is first signed by an owner of a Unit shall be indicated as the date of the amendment,and no amendment shall be of any force or effect unless recorded within six(6)months after such date. (b) No instrument of amendment which alters the dimensions of any Unit shall be of any force or effect unless signed by the Owner of the Unit so altered. (c) No instrument of amendment which alters the percentage of the undivided interest to which any Unit is entitled in the Common Areas and Facilities shall be of any force and effect unless signed by the Owners of all the Units so affected. (d) No instrument of amendment which alters this Master Deed in any manner which would render it contrary to or inconsistent with any requirement or provisions of Chapter 183A shall be of any force or effect. (e) No instrument of amendment affecting any Unit in a manner which impairs the security of a mortgage of record thereon held by a regulated lender or of a purchase money mortgage shall be of any force or effect unless the same has been assented to by such mortgage holder. (f) No instrument of amendment which would,in any manner,disqualify mortgages of Units in the Condominium for sale to the Federal National Mortgage Association(FNMA)or the Federal Home Loan Mortgage Corporation(FHLMC)shall be of any force or effect,and all provisions of the Master Deed and Declaration of Trust shall be construed so as to qualify any such mortgages for sale to FNMA and FHLMC. (g) No instrument of amendment which purports to amend or otherwise affect paragraphs(b)through(h)of this paragraph 13 shall be of any force and effect unless signed by all of the Unit Owners and all first mortgagees of record with respect to the Units. (h) Where required under the Master Deed and/or the Condominium Act the instrument of amendment shall be deemed assented to by the holders of the first mortgages of record with respect to the Units upon the giving of 60 days written notice sent to said Mortgagees by certified mail/return receipt requested. All consents obtained pursuant to this paragraph shall be effective upon the recording of an affidavit by the Trustees stating that all necessary notices have been sent via Certified Mail/Return Receipt Requested and the receipt cards have been returned evidencing actual notice to such mortgage holders of record. Declarant reserves the right to itself and its successors in interest to amend the Master Deed, the Condominium Trust and/or the By-Laws without the consent of any Unit Owners or first mortgage holders so long as the Declarant owns one or more Units. 10 Each instrument of amendment executed and recorded in accordance with the requirements of this paragraph 13 shalt be conclusive evidence of the existence of all facts recited therein and of compliance with all prerequisites to the validity of such amendment in favor of all persons who rely thereon without actual knowledge that such facts are not true or that such amendment is not valid. 14. Definition of"Declarant". For purposes of this Master Deed,the Condominium Trust and the By-Laws,or other instruments recorded herewith,"Declarant"shall mean and refer to Seaport Homes,LLC,P.O.Box:. 8225,Bradford,Massachusetts 01835. 15. Provisions for the Protection of Mortgagees. Notwithstanding anything in this Master Deed or in the Condominium Trust and By-Laws to the contrary,and subject to any greater requirements imposed by M.Q.L.,Chapter 183A,the following provisions shall apply for the protection of holders of first mortgages(hereinafter"First Mortgagees")of record with respect to the Units and shall be enforceable by any First Mortgagee: (a) Any right of first refusal in connection with the sale of a Unit(of which there is presently none)shall not impair the rights of a First Mortgagee to: (i) Foreclose or take title to a Unit pursuant to the remedies provided in its mortgage;or (ii) Accept a deed(or assignment)in lieu of foreclosure in the event of default by a mortgagor;or (iii) Sell or lease a Unit acquired by the First Mortgagee through the procedures described in subparagraphs(i)and(ii)above, (b) Any party who takes title to a Unit through a foreclosure sale duly conducted by a First Mortgagee shall be exempt from the right of first refusal contained herein or any other right of first refusal adopted by the Unit Owners and incorporated in this Master Deed or the Condominium Trust. (c) Any First Mortgagee who obtains title to a Unit by foreclosure or pursuant to any other remedies provided in its mortgage or by law shall not be liable for such Unit's unpaid common expenses or dues which accrued prior to the acquisition of title to such Unit by such First Mortgagee except as otherwise provided by Chapter 183A.,as it may be amended from time to time. (d) Any and all common expenses,assessments acid charges that may be levied by the Condominium Trust in connection with unpaid expenses or assessments shall be subordinate to the rights of any First Mortgagee pursuant to its mortgage on any Unit to the extent permitted by applicable law; (e) A lien for common expenses assessments shall not be affected by any sale or transfer of Unit,except that a sale or transfer pursuant to a foreclosure of a first mortgage shall 11 extinguish a subordinate lien for assessments which became payable prior to such sale or transfer except as otherwise provided by the provisions of Chapter 183A. However,any such delinquent assessments which are extinguished pursuant to the foregoing provision may be reallocated and assessed to all Units as a common expense. Any such sale or transfer pursuant to a foreclosure shall not relieve the purchaser or transferee of a Unit from liability for,nor the Unit from the lien of,any assessments made thereafter. (f) Unless all of the institutional first mortgage lenders holding mortgages on the individual units at the Condominium have given their prior written approval,neither the Unit Owners nor the Trustees of the Condominium Trust shall be entitled to: (i) By act or omission,seek to abandon or terminate the Condominium except in the event of substantial destruction of the Condominium Premises by fire or other casualty or in the case of taking by condemnation or eminent domain; (ii) Change the pro-rata interest of any individual Unit;or (iii) Partition or subdivide any Unit;or (iv) By act or omission,seek to abandon,partition,subdivide,encumber,sell or transfer the common elements,provided,however,that the granting of easements for public utilities or for other public purposes consistent with the intended use of the General or Limited Common Areas and Facilities by the Condominium and the exercise of other actions with respect to granting of special rights of use or easements of General and Limited Common Areas and Facilities contemplated herein or in the Condominium Trust shall not be deemed an action for which any prior approval of a mortgagee shall be required under this Subsection;and further provided that the granting of rights by the Trustees of the Condominium Trust to connect adjoining Units shall require the prior approval of only the mortgagees of the Units to be connected;or (v) Use hazard insurance proceeds for losses on any property of the Condominium(whether to Units or to General or Limited Common Areas and Facilities)for other than the repair,replacement or reconstruction of such property of the Condominium,except as provided by statute in case of taking of or substantial loss to the Units and/or common elements of the Condominium. (g) To the extent permitted by law,all taxes,assessments,and charges which may become liens prior to a first mortgage under the laws of the Commonwealth of Massachusetts shall relate only to the individual Units and not to the Condominium as a whole; (h) In no case shall any provision of the Master Deed or the Condominium Trust give a Unit Owner or any other party priority over any rights of an institutional first mortgagee of the Unit pursuant to its mortgage in tht case of a distribution to such Unit Owner of insurance proceeds or condemnation awards f or losses to or a taking of such Unit and/or the Common Areas and Facilities of the Condominium; (i) An institutional first mortgage lender,upon request to the Trustees of the Condominium Trust,will be entitled to: lz (i) written notification from the Trustees of the Condominium Trust of any default by its borrower who is an owner of a Unit with respect to any obligation of such borrower under this Master Deed or the provisions of the Condominium Trust which is not cured within sixty (60)days; (ii) Inspect the books and records of the Condominium'Dust at all reasonable times; (iii) receive an audited annual financial statement of the Condominium Trust within uwaety(90)days following the end of any fiscal year of the Condominium Trust; (iv) receive written notice of all meetings of the Condominium Trust,and be permitted to designate a representative to attend all such meetings; (iii) :receive prompt written notification from.the Trustees of the Condominium Trust of any damage by fire or other casualty to the Unit upon which the institutional lender holds a first mortgage or proposed taking by condemnation or eminent domain of Wd Unit or the Common Areas and Facilities of the Condominium; (iv) receive written notice of any lapse,cancellation or material modification of any insurance policy or fidelity bond maintained by the Trust;and (v) receive written notice of any action which requires the consent of a specified percentage of eligible mortgagees. The Declarant intends that the provisions of this paragraph shall comply with the requirements of the Federal Home loan Mortgage Corporation and The Federal National Mortgage Association with respect to condominium mortgage loans,and all questions with respect thereto shall be resolved consistent with that intention. The provisions of this paragraph 15 may not be amended or rescinded without the written consent of all First Mortgagees,which consent shall appear on the instrument of amendment as such instrument is duly recorded with the District Registry of Deeds in accordance with the requirements of paragraph 15 hereof. 16.Special Amendment. Notwithstanding anything herein contained to the contrary,the Declarant reserves the right and power to record a special amendment(Special Amendment)to this Master Deed or the Trust at any time and from time to time which amends this Master Deed or Trust: a. To comply with requirements of the Federal National Mortgage Association,or any other governmental agency or any other public,quasi-public or private entity which performs(or in the future may perform)functions similar to those currently performed by such entities; b. To induce any of such agencies or entities to make,purchase,sell,insure,or guarantee first mortgages covering Unit ownership; 13 C. To bring this Master Deed or the Trust incompliance with M.G.L.c. 183A;or d, To correct clerical or typographical errors in this Master Deed or the Trust or any Exhibit thereto,or any supplement or amendment thereto. In furtherance of the foregoing,a power coupled with an interest is hereby reserved and granted to Declarant to vote in favor of,make or consent to any such Special Amendment on behalf of each unit owner. Each deed,mortgage,other evidence of obligation,or other instrument affecting a Unit and the acceptance thereof,shall be deemed to be a consent to the reservation of the power to the Declarant to vote in favor of,make,execute and record any such Special Amendment. The right of Declarant to act pursuant to rights reserved or granted under this Article shall be automatically assigned by the Declarant,without further confirmation or act or deed by the Declarant to the Trustees of the Trust upon the occurrence of the takeover event. 17.Seyerability. In the event that any provisions of this Master Deed shall be determined to be invalid or unenforceable in any respect,it shall be interpreted and construed so as to be enforceable to the extent and in such situations as may be permitted by applicable law,and in any event,the partial or total enforceability of such provisions shall not affect in any manner the validity,enforceability or effect of the remainder of this Master peed;and,in such event,all of the other provisions of this Master Deed shall continue in full force and effect as if such invalid provision had never been included herein. 18.Waiver No provision contained in this Master Deed shall be deemed to have been abrogated or waived by reason of any failure to enforce the same,irrespective of the number of violations or breaches which may occur. End.of Text Signature Page Follows 14 Executed as a sealed instrument on this_12.Nay of Na-V .2021. Seaport Homes,LLC By: Patrick Cone Its: Manager/Authorized Real Estate Signatory s-tA-j-r 6 F NEW U/144ASK t gr- f�oCf�lN fr I{A,Gj . B&SM,ss. On this /2""'day of 2021,before me,the undersigned notary public, personalty appeared Patrick Cone,a Manager and Authorized Real Estate Signatory for Seaport Homes,LLC,wlto proved to me through satisfactory evidence of identification,which was❑ photographic identification with signature issued by a federal or state.goverrtmental agency,❑ oath or affirmation of a credible witness,Xpersonat knowledge of the undersigned,to be the person whose name is signed on the preceding or attached document,and acknowledged to me that he signed it voluntarily for its stated purpose,in the capacity indicated,and that he has the authority to sign in that capacity. Nant : KX-1K2y'v M Ma2r+V Notffl My Commission Expires: oZ ft"Y z KATHRYN W MORIN dsuies of Ike►ako#.moll 01 New Hlrw5hlre My Commission EMplres May 2.2023 15 EXHIBIT A The land with the buildings thereon situated at 127 Marblehead Street,North Andover,Essex County,Massachusetts,being more particularly bounded and described as follows: Beginning at the intersection of Marblehead Street and Middlesex Street as now laid out: thence turning Westerly by the northerly line of said Middlesex Street ninety feet to the land of Lewis Greenwood;thence turning at about right angles and running Northerly by said Greenwood land fifty feet to land of said Greenwood;thence turning at about right angles and running Easterly ninety feet by land of one Greenwood to the westerly line of Marblehead Street;thence turning at about right angles and running Southerly fifty feet along the westerly line of Marblehead Street to the point of beginning. For DeclaranCs title see deed dated July 27,2020,recorded with the Essex North District Registry of Deeds in Book 16414,Page 243. 16 EXHIBIT B Descriptive Schedule of Condominium Units Unit Resignation Approx. rea o Number o DomeProportionate Unit is Square Interest of Unit in Feet Common Areas and Facilities Unit A 555±sq.A. K,LID,BR,B 20% 1st Floor Unit B 570-+sq.ft. K,UD,BIZ,B 20% 1st Floor Unit C 1,100 sq.ft. K,I.ID,2 BR, 30% (2oa Floor and 2 B,HB 3C°Floor Unit D 1,094 sq.ft. K,LID,2 BR, 30% (2'd Floor and 2 B,HB Yd Floor Room designation codes: K Kitchen LID Living/Dining Room: BR Bedroom B Full Bathroom HB Half Bathroom 17