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Home My WebLink About1985-11-12 Form I Covenant Definitive Subdivision 2/10/1986 E FORM I COVENANT is February 10 , 1986 Vonth Andover ,Massachusetts KNOW ALL MEN by these presents that the undersigned has submitted an application dated November 12, ' 5to the North�Andover Planning Board for approval of a Def7in�ive' Plan of a s division of and entitled : .Definitive SubdivJsjon of Oakwood plan by ; Neve Associates Topsfiel.d, Massachusetts , dated :Nov. 12 , 1985 , and owne y : address: land located : North Andover , and showing 11 proposed k lots . The undersigned has requested the Planning Board to approve such plan without requiring a performance bond . IN CONSIDERATION of said Planning Board of North Andover ' in the county of Essex approving said plan wit out requiring a �. performance bond , the undersigned hereby covenants and agrees with the inhabitants of the town as follows ; ? 1 . That the undersigned is the owner* in fee simple absolute of all the land included in the subdivision and that there are no ' mortgages of i record or otherwise on any of the land , except for those described below , and that the present holders of said mortgages have assented to this contract prior to ' its execution by the undersigned . * If there is more than one owner, all must sign . "Applicant " may be an owner or his agent or representative , or his assigns , but the owner of record must sign the covenant . 2 . That the undersigned will not sell or convey any lot in the subdi - vision or erect or place any permanent building on any lot until the construction of ways and installation of municipal services necessary to adequately serve such lot 'has been completed in accor- dance with the covenants , conditions , agreements , terms and provisions as specified in the following ; a . The Application fo,r Approroval of Definitive Plan ( Form C) . b . The Subdivision Control Law and the Planning Board ' s Rules and Regulations governing this subdivision . c . The Certificate of Approval. and the conditions of approval spe - cified therein , issued by the Planning Board ,. dated Jazz. 27_, 198.6 . d . The Definitive Plan as approved and as qualified by the Certi - ficate of Approval . e . Other document (s ) specifying construction to be completed , namely , ___ ( Page 1 of 3) j i , However , a mortgagee who acquires title to the mortgaged premises by foreclosure or otherwise and .ahy succeeding owner of the mortgaged premises or part thereof may sell or convey any lot , subject only to that portion of this covenant which provides that no lot be sold or conveyed or shall be built upon until ways and services have been provided to serve such lot . 3 . That this covenant shall be binding upon the executors , adminis is - trators , devisees , heirs , successors and assigns of the undersigned and shall constitute a covenant running with the land included in the subdivision and shall operate as restrictions upon the land . q 4. That particular lots within the subdivision shall be released from the foregoing conditions upon the -recording of a certificate of performance executed by a ;Majority of the Planning Board and enum- eratina the specific lots to be �ele-ased . f 5 . That nothi,nq herein shall be deemed to prohibit a conveyance by a single deed subject to this covenant , of either the entire parcel of land shown on the subdivision plan or of all lots not previously released by the Planning Hoard . 6 . That the undersigned agrees to record this covenant with the North Essex County Registry of Deeds , forthwith , or to pay the necessary recording fees to the said Planning Board' in -the event the Plannina Board shall record this agreement forthwith . Reference to this covenant shall be entered upon the Definitive Subdivision Plan as approved . -T— 7 . C, deed or any part of- the subdivision in violation of the covenant shall be voidable by the grantee prior to the release of the cov- enant ; but not later than three ( 3 ) years from the date of such deed , as provided in Section 81-U , Chapter 41 , M . G . L . !. 3. That this covenant small be executed before endorsement of approval of the definitive plan by the Planning Board and shall take effect upon the endorsement of approval . 9 . Upon final completion of the construction pf ways and installation of municipal services as specified herein , on or before t4 12 1987 the Planning Board shall release this covenant appropriate instrument , duly acknowl'edned . Failure to complete con - struction and installation within the time specified herein or such later date as may be specified by vote of the Planning Board with a written concurrence of the applicant , shall result in automatic rescission of the approval of the plan , Upon performance of this covenant with respect to any lot , .the Planning Board may release such lot from this covenant by .an appropriate instrument duly recorded . . 10 . Nothing herein shall prohibit the applicant from varying th,e method of securing the construction of ways and installation of municipal services from time to time or from securing by one , or in part by one and in part by another of the -methods described in M. G . L . , Chapter 41 , Section 81-U , as long as such security is sufficient in the opinion of the Planninn Board to secure performance of the con- struction and installation . ( Pace 2 of 3) For title to the property , see deed from Donald Field and May Field � dated Feb . 7 , 7986 , recorded in North Essex Registry of f Deeds , Book 7.1 2.9 , Pages 45 & 4c, or regi stered i n Land Registry as Document No . and noted on certificate of title No . in Registration Book Page i The present holder of a mortgage upon the property is Woburn Five Cents I; Savings Bank of Woburn, Massachusetts The mortgage is aated Feb . 7 , 1996 and recorded in NortFi Essex i Registry of Deeds , Book 2129 Page 47 , or registered in Land Registry as Document No . , and note on certificate of title No . in Registration Book , Page The mortgagee agrees to o d the mortgage subject to -- - covenants set forth above and agrees that the covenants shall have the same status , force and effect as though executed and recorded before the taking of the mortgage and further agrees that" ,,the mortgage shall be subordinate to the above covenant . xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx � "�66�6x6*x xa-Ai *4� )A;RxxaWT&VAX ��sxxs�i�x IN WITNESS WHEREOF we have hereunto set our hands and seals this of February , 1986 FLrNTL,OCK REALTY TRUST `�;aVlh A. , indr ;—Trustee- Acceptance by a Majority of the Planning Board of 1 ( Page 3 of 3)