HomeMy WebLinkAboutLegal Document - 41 SECOND STREET 11/19/2015 (2) 33-41 SECOND STREET CONDOMINIUM
A CONDOMINIUM AT 33-41 SECOND STREET
BOSTON,MASSACHUSETTS
MASTER DEED
BAYRIDGE DEVELOPMENT LLC, a Massachusetts limited liability company,with a
principal place of business located at 434 Broadway, Lawrence, MA 01841 (the "Declarant"
which term shall include its successors and assigns), being the sole owner of the land with the
buildings and improvements thereon situated in Lawrence,Essex County,Massachusetts, as more
particularly described in Section 2 below,by duly executing and recording this Master Deed does
hereby submit said land together with the buildings and improvements now or hereafter erected
thereon, and all easements, rights and appurtenances belonging thereto (the "Premises") to the
provisions of Chapter 183A of the Massachusetts General Laws (as from time to time amended,
hereinafter referred to as"Chapter 183A"),and do hereby proposes to create and does hereby create
with respect to the Premises, a condominium to be governed by and subject to the provisions of
Chapter 183A, and to that end declares thus:
Section 1. Name. The name of the Condominium shall be 33-41 Second Street
Condominium (the "Condominium").
Section 2. Description of Land. The premises which constitute the Condominium
comprise the land (the "Land") described on Exhibit A, attached hereto and incorporated by this
reference, situated at 33-41 Second Street, North Andover, Massachusetts, together with the
improvements and buildings now existing thereon, as shown on a plan entitled, "Condominium
Site Plan of the 33-41 Second Street Condominium",dated August 11,2015,prepared by Andover
Consultants,Inc. and recorded herewith(the "Site Plan").
Section 3. Description of Building. The Condominium consists of a building (the
"Building") within which there are three (3) residential units (individually, a "Unit" and
collectively,the"Units"). The Building consists of three above-grade levels and a basement. The
Building is of wood framed construction with poured concrete foundation and an asphalt shingled
roof.
Each Unit is heated and cooled by an HVAC unit. The Units are separately metered for
heat and electricity, water and sewer. Common area electricity, water and sewer charges are
separately metered and the cost of such services is part of the common area charge.
Section 4. Floor Plans,Designations of Units and their Boundaries.
A. The floor plan of the Building showing the layout, location, unit designation and
dimensions of the Units stating that the Building has no name and bearing the verified statement
of a registered professional engineer certifying that the plans fully and accurately depict the same,
as built, captioned "Condominium Floor Plan of the 33-41 Second Street Condominium", dated
Bk 14450 Pg171 #30110
August 11, 2015 prepared by Andover Consultants,Inc.(the"Floor Plan")and the Site Plan of the
Condominium(collectively,the "Plans") are recorded herewith and are part of this Master Deed.
B. The Units,their designations,locations,approximate area,number and composition
of rooms and the immediate common areas to which each has access are as shown on Exhibit B
attached hereto and incorporated herein by this reference. The boundaries of each of the Units are
as follows:
(i) Floors: The plane of the upper surface of the sub-flooring or in the case of
those floors without sub-flooring the plane of the upper surface of the floor slab or
the upper surface of the floor joists.
(ii) Ceilings: The plane of the lower surface of the ceiling joists or in the case
of a unit situated immediately beneath an exterior roof the plane of the lower
surface of the roof rafters.
(iii) Interior Building Walls Between Units and Between Units and Common
Areas: The plane of the interior surface of the wall furrings or studs or the plane of
the surface facing such unit of the masonry or cement when masonry or cement is
the finish material.
(iv) Exterior Building Walls: The plane of the interior surface of the wall furring
or the plane of the interior surface of the masonry or cement when masonry is the
finish material.
(v) Doors and Windows: As to doors leading to Common Areas and Facilities,
the exterior surface of the doors and the exterior unfinished surface of the door
frame; as to windows, the exterior surface of the glass and of the sash, and the
exterior unfinished surface of the window frame.
(vi) Fireplaces: As to fireplaces,the fireplace veneer fire box and flue located
within or appurtenant to each Unit,if any,shall be considered part of the Unit.
C. Each Unit Owner (individually, a "Unit Owner", and collectively, the "Unit
Owners") may at any time and from time to time change the use and designation of any room or
space within said Unit subject always to the provisions of Section 6 hereof.
D. Each Unit includes all nonstructural walls within the boundaries of such Unit and
the ownership of all utility lines, heating, air conditioning, cooling,plumbing, hot water heaters,
telephone, electrical, and other apparatus and other equipment, which exclusively serve and are
located within the individual Unit.
E. Each Unit includes, without limitation, to the extent such may exist from time to
tinge,the ownership of the hot water heaters,telephone,electrical and any other apparatus or other
equipment, which exclusively serves the individual Unit and is located outside such Unit. Each
Unit Owner shall have the exclusive right,as appurtenant to their Unit,to use the lines,pipes,ducts
2
Bk 14450 Pg172 ##30110
or any other equipment connecting said heating and air conditioning apparatus,hot water heaters,
telephone,electrical and other apparatus and equipment serving said Unit. Unit Owners shall have
sole responsibility and bear the cost of maintenance, repair and replacement, as necessary, of all
apparatus, which exclusively serves the Unit. A Unit Owner is hereby granted limited access to
those Common Area Facilities in which the apparatus exclusively servicing a Unit is located for
the specific purpose of maintaining, repairing, or replacing as necessary that apparatus and
equipment.
F. Each Unit Owner, except as set forth herein, shall have the exclusive right, as
appurtenant to their Unit, to use, common area entrances to and from the streets, walkways and
yards that serve as access to and from such Units(each of the foregoing comprises a portion of the
Common Areas and Facilities defined in Section 5 hereof).
G. Except as set forth in this Master Deed, each Unit Owner shall have the right, as
appurtenant to their Unit, to use, in common with the Unit Owners of the other Units served
thereby,all heating,air conditioning,utility lines and other common facilities located in any of the
other Units or in the Common Areas and Facilities described in Section 5 hereof, and serving that
Unit for the purpose in which it is intended. Nothing herein shall otherwise be construed to limit
the right of any Unit Owners to use other Common Areas and Facilities (as defined hereafter in
Section 5 hereof)in accordance with the intended purposes thereof,except as specifically provided
by Section 5.1 hereof
H. The Trustees of the Condominium Trust hereinafter described shall have a right of
entry to each Unit to make emergency repairs or other necessary repairs upon reasonable prior
notice to the Unit Owner and only in the presence of the Unit Owner or the Unit Owner's agent,
to the Unit which the Unit Owner has failed to perform.
Section 5. Common Areas and Facilities. The common areas and facilities of the
Condominium (hereinafter referred to as the "Common Areas and Facilities" or "Common
Elements")consist of:
A. The Land described in Exhibit A, together with the benefit of and subject to all
rights, easements, restrictions and agreements created by this Master Deed and all matters of
record,if any, so far as the same may be in force; and
B. All portions of the Premises not included in any Unit by virtue of the Plans and
Section 4 above including,without limitation,the following to the extent such may exist from time
to time:
(i) The foundation, structural columns, girders, beams, supports, exterior
walls, entrances and exits of the Building, other structural components
whether or not located within any Unit, and common walls within the
Building.
(ii) Installations of central services, such as power (whether electric or
otherwise), light, gas, hot and cold water, heating, air conditioning, and
waste disposal, including all equipment attendant thereto wherever located
3
Bk 14450 Pg173 #30110
(but not including equipment contained within and servicing a single Unit,
the repair, maintenance and replacement of which shall be the sole
responsibility of the Unit).
(iii) All conduits, chutes, ducts, plumbing, wiring, flues and other facilities for
the furbishing of utility services or waste removal and all such facilities
contained within any Unit which serve parts of the Building other than the
Unit within which such facilities are contained.
(iv) The yards, lawns, gardens, roads, walkways, roof, and the improvements
thereon and thereof, including walls, bulkheads, railings, steps, lighting
fixtures,planters,decks and steps and other areas not within the boundaries
of the Units as defined in this Master Deed,whether or not improved.
(v) All equipment and other apparatus and installations existing in the Building
for the common use, or necessary or convenient for the existence,
maintenance or safety of the Building.
(vi) Such additional Common Areas and Facilities as may be defined in Chapter
183A.
(vii) All other portions of the Condominium designated as common areas on the
Flans.
C. Each Unit Owner shall be entitled to an undivided interest in the Common Areas
and Facilities of the Condominium in the percentages shown on Exhibit"C"attached to this Master
Deed and incorporated herein by reference. These percentage interests have been computed,
conformably with Chapter 183A, upon the approximate relation which the fair market value of
each Unit on the date of this Master Deed bears to the aggregate fair market value of all the Units
on that date. The percentage interest in the Common Area and Facilities may not be conveyed or
alienated separately from the Unit and any conveyance, encumbrance,judicial sale, or transfer
(voluntary of involuntary)of an individual interest in the Common Area and Facilities will be void
unless the Unit to which that interest is allocated is also transferred.
D. The Common Areas and Facilities shall be subject to the provisions of the By-Laws
of the 33-41 Second Street Condominium Trust recorded herewith(the"Trust")and the Rules and
Regulations attached thereto which are incorporated herein by reference, as the same may be
amended from time to time.
E. If any portion of the Common Areas and Facilities of the Condominium shall
actually encroach upon any Unit or if any Unit shall actually encroach upon any portion of the
common areas or any other Unit, as these are shown on the Plans, there shall be deemed to be
mutual easement in favor of the Unit Owners collectively as owners of the common areas and the
respective individual Unit Owners involved to the extent of such encroachments so long as the
same shall exist.
4
Bk 14450 Pg174 #30110
Section 5.1 Limited Common Areas and Facilities. Limited common areas and
facilities shall be defined as a portion of the Common Areas and Facilities described in this Master
Deed or shown on the plan as reserved for a particular unit for the exclusive use, subject to the
rights of the Trust and others as set forth herein, of one or more but fewer than all the Units
(hereinafter referred to as "Limited Common Areas and Facilities" or "Limited Common
Elements") and include the following:
A. Parking Spaces: There are eight (8) parking spaces located as shown on the
Condominium Site Plan recorded herewith. Each Unit shall have the exclusive use of the parking
spaces attributable to that Unit as shown on said site plan which right to use such parking spaces
shall be appurtenant to a Unit. The two (2) visitor's spaces are available for use on a first come
first served basis. The Trustees may adopt reasonable rules and regulations governing the use of
parking spaces by owners.
B. Decks and Exterior Stairways. The Owners of each Unit shall have, as an
appurtenance to his or her Unit,the exclusive right and easement to use the deck, steps and porch
area(s)to which each Unit has direct access as shown on the Plans as reserved to such unit thereon.
Each Unit Owner shall maintain the deck area to which he or she has access in a clean and orderly
manner and shall keep the stairs clean and free and clear of all objects that would impede passage
thereon. The deck steps and porch are part of the Common Areas and Facilities. The Trustees
shall maintain, repair and replace the deck, steps and porch area as necessary and such cost shall
be a common expense
C. In the event that inspection,maintenance,repair or replacement of the Building or
portions thereof(including the roof or utilities or fixtures serving the Condominium)requires work
to be performed on a portion of the Premises that is adjacent to or located below or above any of
the Limited Common Areas and Facilities,the Unit Owner that has the exclusive right to use such
Limited Common Areas and Facilities shall permit such work to be performed and provide access
to such Limited Common Areas and Facilities and its Unit to the Trustees and their employees,
contractors and agents. In the event such work requires the removal, alteration and/or restoration
of such Limited Common Areas and Facilities,such removal,alteration and/or restoration shall be
performed by the Trustees,their employees, contractors or agents at the sole cost and expense of
the Trust(except for any work necessitated by the negligence, misuse or neglect of a Unit Owner,
or its tenants, occupants or invitees, in which case the cost thereof shall be paid by such Unit
Owner).
D. The provisions of this Section 5.1 shall at all times take precedence over any other
provisions of this Master Deed and the Declaration of Trust. No Amendment or modification of
the Declaration of Trust or By-Laws or Rules and Regulations thereto shall effect or interfere with
the right and easements held by the Unit Owner as set forth in this Section 5.1 without the prior
written consent of the owners of the Unit(s) affected thereby or regarding Parking Spaces,without
the prior written consent of the Parking Space Owner affected thereby.
Section b. Statement of Purposes; Restrictions on Use.
The Units and the Common Areas and Facilities therein are intended to be used as follows:
5
Bk 14450 Pg175 #30110
A. The Building and each of the Units are intended only for residential purposes;
provided,however,that any of the Units may also be used as an office but only as an accessory to
such residential use and only if and to the extent such accessory office use is permitted by
applicable zoning laws.
B. No Unit shall be used or maintained in any manner which unreasonably interferes
with the use and enjoyment of any other Unit or of the Common Areas and Facilities, and to that
end no noxious or offensive activity shall be carried on in any Unit, or in the Common Areas and
Facilities, nor shall anything be done therein which may be or become an annoyance or nuisance
to the occupant of any other Unit. No person within the Common Areas and Facilities of the
Condominium or in any Unit therein shall make or permit any conduct or noise that unreasonably
interferes with the rights, comforts or convenience of the occupant of any Unit.
C. No Unit shall be used for any purpose not specified in this Section 6.
D. Except as may be approved by the Trustees which approval shall not be
unreasonably withheld, no portion of a Unit (other than the entire Unit) may be leased or rented
and in any event may not be leased for periods of less than twelve (12)months. No Unit may be
used, by way of rental or otherwise, for transient purposes.
E. The architectural and structural integrity of the Building and the Units shall be
preserved without modification, and to that end, unless permitted in writing by a majority of the
Trustees,no awning,screen,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 the
Building,any Unit,or any part thereof.
F. No Unit shall be used or maintained in a manner contrary to or inconsistent with
the By-Laws of the Condominium Trust and the Rules and Regulations which may be adopted
pursuant thereto.
G. No Unit Owner shall make any addition,alteration or improvement in or to the Unit
which may affect the structural integrity or mechanical systems of the Condominium without the
prior written consent of the Trustees, which consent may contain such conditions including,
without limitation, restrictions in the manner of performing such work and requirements for
insurance, as the Trustees deem reasonable and necessary. All additions, alterations or
improvements to any Unit (whether or not affecting the structural or mechanical systems of the
Condominium) shall be performed in compliance with all applicable laws and in a manner as not
to unduly inconvenience or disturb the occupants of the Condominium.
H. These restrictions shall be for the benefit of all Unit Owners and shall be
administered on behalf of the Unit Owners by the Trustees of the Trust, and shall be enforceable
solely by the Trustees, insofar as permitted by law, and shall be perpetual; and to that end 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
section except such as occur during his or her Unit ownership.
6
Bk. 14450 Pg176 #30110
Section 7. Special Amendment.
A. Notwithstanding anything herein contained to the contrary, so long as the Declarant
owns at least one Unit in the Condominium,the Declarant reserves the right and power to file and
record a special amendment ("Special Amendment") to this Master Deed at any time and from
time to time without the consent of the Trustees, any Unit Owner, or their Mortgagees, which
amends this Master Deed in the following manner:
(i)to comply with requirements of the FNMA, FHLMC, the Veterans Administration or
any other governmental agency or any other public, quasi-public,or private entity which performs
(or may in the future perform)functions similar to those currently performed by such entities;
(ii)to induce any of such agencies or entities to make,purchase, sell, insure or guarantee
first mortgages covering Unit ownerships;
(iii) create any easements or Limited Common Areas and Facilities as reserved by the
Declarant,
(iv)to bring this Master Deed into compliance with Chapter 183A of the General Laws of
Massachusetts or to meet the requirements of applicable laws and governmental regulations,
permits,approvals, or directives;or
(v) to correct clerical or typographical errors or to cure any ambiguity, inconsistency,
formal defect or omission in this Master Deed or any exhibit hereto or any supplement or
amendment hereto provided such Special Amendment does not materially adversely affect rights
and interests of the Unit Owners.
B. In furtherance of the foregoing,a power coupled with an interest is hereby reserved
and granted to the Declarant to vote in favor of, make, or consent to a Special Amendment on
behalf of each Owner as proxy or attorney-in-fact, as the case may be. Each deed,mortgage,trust
deed, other evidence of obligation or other instrument affecting a Unit and the acceptance thereof,
shall be deemed to be a grant and acknowledgment of, and a consent to the reservation of the
power to the Declarant to vote in favor of,make, execute and file and record Special Amendments.
The right of the Declarant to act pursuant to rights reserved or granted under this section shall be
automatically assigned to the Trustees of the 33-41 Second Street Condominium Trust at such time
as neither the Declarant nor any assignee of the Declaranfs rights hereunder shall any longer hold
or control title to any Unit.
C. Any right or power reserved to the Declarant in this Section 7,or elsewhere in this
Master Deed may be conveyed and assigned,absolutely or as security,as an appurtenant right and
power or to be held in gross;however, any such right or power may only be conveyed or assigned
specifically and a conveyance of a Unit or Units of the Condominium alone shall not operate as a
transfer of any such right or power.
Section 8. Amendments. This Master Deed may be amended by an instrument in writing
(a) signed and acknowledged in proper form for recording by the Unit Owners entitled to not less
7
Bk 14450 Pg177 #30110
than two-thirds (2/3) interest of the individual unit interests in the Common Areas and Facilities,
(b) signed and acknowledged in proper:form for recording by a majority of the Trustees of the
Trust, and (c) duly recorded with the Northern Essex County Registry of Deeds, PROVIDED,
HOWEVER,that,except for the Declarant's reserved rights as provided herein:
A. No instrument of amendment,which materially alters the dimensions of any Unit, shall
be of any force or effect unless the same has been signed by the Unit Owners of the Unit so altered;
B. 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 or effect unless
the same has been signed by all Unit Owners and said instrument is recorded as an Amended
Master Deed;
C. No instrument of amendment affecting any Unit in any manner which impairs the
security of a first mortgage of record held by a bank or insurance company shall be of any force
or effect unless the same has been assented to by the holder of such mortgage;
D. No instrument of amendment which alters this Master Deed in any manner which would
render it contrary to or inconsistent with any requirements or provisions of Chapter 183A shall be
of any force or effect;
E. No instrument of amendment which purports to affect any rights reserved to or granted
to the Declarant shall be of any force or effect without the consent of the Declarant; and
F. The date on which any instrument of amendment is first signed by a Unit Owner shall
be indicated thereon as the date thereof and no such instrument shall be of any force or effect
unless that same has been so recorded within six(6)months after such date.
G. Where mortgagee consent is required under the Master Deed and/or Chapter 183A,the
instrument of amendment shall be deemed assented to by the holders of the first mortgagees of
record with respect to the Units upon the giving of sixty (60) days written notice sent to said
mortgagees by certified mail/return receipt requested. All consents obtained pursuant to this
Section 8 shall be effective upon the recording of an affidavit by the Trustees stating that all
necessary notices have been sent via certified mailheturn receipt requested, and the receipt cards
have been returned evidencing actual notice or refusal of notice to such mortgage holders of record.
Section 9. Provisions for Protection of Mortgagees. Notwithstanding anything in the
Master Deed,the By-Laws of the Condominium Trust,or the Rules and Regulations promulgated
pursuant thereto to the contrary, the following provisions shall apply for the protection of the
holders of the first mortgages (hereinafter "First Mortgagees")of record with respect to the Units
and shall be enforceable by any First Mortgagee. To the extent that there are inconsistencies in
any voting requirements hereunder,the higher percentage necessary for approval shall prevail:
A. In the event that the Unit Owners shall amend this Master Deed or the
Condominium Trust to include therein any right of first refusal in connection with the sale of a
Unit, such right of first refusal shall not impair the rights of a First Mortgagee to:
8
Bk 14450 Pg178 #30110
(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 any such 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 Iaw 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 permitted by Massachusetts laws -- i.e., M.G.L., Chapter 183,
Section 6).
D. Any and all common expenses, assessments and charges that may be levied by the
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 except as otherwise permitted by
Massachusetts law as noted above.
E. A lien for common expenses and assessments shall not be affected by any sale or
transfer of a Unit, except that a sale or transfer pursuant to a foreclosure of a First Mortgage shall
extinguish a subordinate lien for assessments which became payable prior to such sale or transfer.
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. Except as provided by Chapter 183 A in case of condemnation or substantial loss to
the Units and/or Common Areas and Facilities of the Condominium, unless sixty seven percent
(67%) of the First Mortgagees holding mortgages on the individual Units of the Condominium
(based upon one vote for each first mortgage owned),or owners(other than the sponsor,developer,
or builder of the individual Condominium Units) have given their prior written approval, neither
the'Trustees of the Condominium Trust nor the Unit Owners,by amendment to this Master Deed
or otherwise,shall be entitled to:
(i) by any act or omission, seek to abandon or terminate the Condominium, except in the
event of substantial destruction of the Condominium by fire or other casualty or in the case
of taking by condemnation or eminent domain; or
(ii) change the pro rata interest or obligations of any individual Unit for the purpose of:
9
Bk 14450 Pg179 #30110
(a) levying assessments or charges or allocating distributions of hazard
insurance proceeds or condemnation awards, or
(b) determining the pro rata share of ownership of each Unit in the Common
Areas and Facilities;
(iii) partition or subdivide any Unit;or
(iv) by any act or omission,seek to abandon,partition,subdivide,encumber,sell or transfer
the Common Areas and Facilities provided that the granting of easements for public
utilities or for other public purposes consistent with the intended use of the Common Areas
and Facilities shall not be deemed an action for which prior consent of the First Mortgagees
shall be required pursuant to this Subsection; or
(v) use hazard insurance proceeds on account of losses to either the Units or the Common
Areas and Facilities for other than the repair,replacement or reconstruction thereof,except
as otherwise provided by statute in case of a taking of or substantial loss to the Units and/or
Common Areas and Facilities.
G. Consistent with the provisions of Chapter 183A, 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 event shall any provision of this Master Deed or By-Laws of the Trust give a Unit
Owner or any other party priority over any rights of a First Mortgagee pursuant to its mortgage in
case of a distribution to such Unit Owner of insurance proceeds or condemnation awards for losses
to or a taking of such Unit and/or the Common Areas and Facilities. The Trust shall represent the
Unit Owners in any condemnation proceedings or in negotiations,settlements and agreements with
the condemning authority for acquisition of the common areas, or part thereof, and the
Condominium Trust is hereby appointed as attorney-in-fact for the foregoing purpose. In the event
of a taking or acquisition of part or all of the common areas by a condemning authority,the award
or proceeds of settlement shall be payable to the Trust for the use and benefit of the Unit Owners
and their mortgagees as their interest may appear.
I. A First Mortgagee,which term shall include any holder,insurer or guarantor of any first
mortgage,upon request made to the Condominium Trust shall be entitled to:
(1) written notification from 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 By-Laws of the Condominium Trust which is not cured within sixty
(60)days;
(ii) inspect the books and records of the Condominium Trust at all reasonable times;
10
Bk 14450 Pg180 #30110
(iii) receive an annual financial statement of the Condominium Trust within one hundred
and twenty (120) days following the end of any fiscal year of the Condominium Trust or
if there is no audited financial statement available, any mortgage holder may have an
audited statement prepared at its own expense;
(iv) receive written notice of all meetings of the Condominium Trust and be permitted to
designate a representative to attend all such meetings; and receive written notice of any
proposed action which would require the consent of mortgage holders under the Master
Deed or fay-Laws;
(v) receive prompt written notification from the Condominium Trust of any damage by
fire or other casualty to the Unit upon which the First Mortgagee holds a first mortgage or
any proposed taking by condemnation or eminent domain of said Unit or the Common
Areas and Facilities;
(vi) receive written notice of any lapse, cancellation or modification of any insurance or
fidelity bond required to be obtained by the Trustees;
(vii) upon written request the Condominium Trust shall make available for inspection
during normal business hours to any Unit Owner or mortgagee,current copies of the Master
Deed, Declaration of Trust, By-Laws, and other rules concerning the Condominium and
the books, records,and financial statements of the Trust; and
(viii)receive written notice of any proposed action that requires the consent of a specific
percentage of eligible first mortgage holders.
J. No agreement for professional management of the Condominium or any other contract
with Declarant may exceed a term of three (3) years, and any such agreement shall provide for
termination by either party without cause and without payment of a termination fee on ninety(90)
days or less written notice.
K. Except for amendments to the Master Deed, Declaration of Trust and By-Laws or
termination of the Condominium made as a result of destruction, damage or condemnation above
set forth:
(i) The consent of Unit Owners of Units to which at least 66 2/3% of the total percentage
interest is allocated and the assent of not less than fifty-one percent(51%) of the eligible
First Mortgagees (based upon one vote for each mortgage owned), shall be required to
terminate the legal status of the Condominium; and
(ii)The consent of Unit Owners of Units to which at least 66 2/3% of the total percentage
interest is allocated and the assent of not less than fifty-one percent(51%,) of the eligible
First Mortgagees(based upon one vote for each mortgage owned),unless a greater or lesser
percentage shall be required by applicable statute, shall be required to add or amend any
material provisions of the Condominium documents of the Condominium,which establish,
provide for, govern or regulate any of the following:
li
Bk 14450 Pg181 #30110
(a) voting rights;
(b) increases in assessments that raise the previously assessed amount by more than
25%, assessment liens,or subordination of assessment liens;
(c) reserves for maintenance,repairs and replacement of common areas;
(d) responsibility for maintenance and repairs;
(e) reallocation of interests in the general or limited common areas, or rights to
their use;
(f) redefinition of any Unit boundaries;
(g) expansion or contraction of the project, or the addition, annexation, or
withdrawal of property to or from the project;
(h) convertibility of Units into common areas or vice versa;
(i) hazard or fidelity insurance requirements;
0) imposition of any restriction on the leasing of Units;
(k) imposition of any restrictions on a Unit Owner's right to sell or transfer his or
her Unit;
(1) a decision by the owners' association to establish self-management when
professional management had been required previously by an eligible mortgage
holder;
(m) restoration or repair of the project(after a damage or partial condemnation)in
a manner other than that specified in the documents;
(n)any action to terminate the legal status of the project after substantial destruction
or condemnation occurs; or
(o) any provisions that expressly benefit mortgage holders, insurers or guarantors.
(iii)Where mortgagee consent is required under the Master Deed and/or Chapter 183A,the
instrument of amendment shall be deemed assented to by the holders of the first mortgagees
of record with respect to the Units upon the giving of sixty(60)days written notice sent to
said mortgagees by certified mail/return receipt requested. All consents obtained pursuant
to this Section 9 shall be effective upon the rccording of an affidavit by the Trustees stating
that all necessary notices have been sent via certified mail/return receipt requested,and the
12
Bk 14450 Pg182 #30110
receipt cards have been returned evidencing actual notice or refusal of notice to such
mortgage holders of record.
L. All leases or rental agreements for Units shall be in writing and specifically subject to
the Master Deed, the Declaration of Trust, the By-Laws, and the Rules and Regulations of the
Condominium and no Unit shall be leased or rented for a period of less than three hundred and
sixty-five(365)days.
M. To the extent permitted by applicable law,first mortgage holders shall also be afforded
the following rights:
(i) Any restoration or repair of the project, after a partial condemnation or damage due to
an insurable hazard, shall be performed substantially in accordance with the Master Deed
and the original plans and specifications,unless other action is approved by at least fifty-
one percent(51%) of the eligible first mortgage holders of mortgages on Unit estates.
(ii) Any election to terminate the legal status of the project after substantial destruction or
a substantial taping in condemnation of the project property must require the approval of
at least fifty-one percent(51%) of the eligible holders of first mortgages on Unit estates.
(iii) When professional management has been previously required by any eligible
mortgage holder or eligible insurer or guarantor, whether such entity became an eligible
mortgage holder or eligible insurer or guarantor at that time or later, any decision to
establish self-management by the Trust shall require the prior consent of owners of Unit
estates to which at least 66 2/3% of the total percentage interest is allocated and the
approval of at least fifty-one percent (51%) of the eligible first holders of mortgages on
Unit estates.
N. The Declarant intends that the provisions of this Section 9 and all other provisions of
this Master Deed comply with the requirements of Federal Home Loan Mortgage Corporation
(hereinafter referred to as "FHLMC") and Federal National Mortgage Association (hereinafter
referred to as "FNMA") with respect to condominium mortgage loans and, except as otherwise
required by the provisions of Chapter 183A, all questions with respect thereto shall be resolved
consistent with that intention. In the event of any conflict between the percentage requirements of
FNMA, FHLMC, other sections of the Master Deed and Massachusetts General Laws Chapter
183A with respect to any action or non-action to be taken or omitted by the Unit Owners or
Trustees of the Condominium Trust, or with respect to any other matter, the greatest percentage
requirements shall control. This Section 9 may be arnended only with prior written approval of
First Mortgagees representing 100% in number and Beneficial Interest of the mortgaged Units in
the Condominium and 100% in Beneficial Interest of the Unit Owners of Units in the
Condominium.
Section 10. The Unit Owners' Organization. The Trust through which the Unit Owners
will manage and regulate the Condominium established hereby is the 33-41 Second Street
Condominium Trust under Declaration of Trust recorded herewith. In accordance with Chapter
183A, the Declaration of Trust enacts By-Laws and establishes a membership organization of
13
Bk 14450 Pg183 #30110
which all Unit Owners shall be members and in which the Unit Owners shall have a beneficial
interest in proportion to the percentage of undivided interest in the Common Areas and Facilities
to which they are entitled under this Master Deed.
The name and address of the original and present Trustee of the Condominium Trust, so
designated in the Declaration of Trust,are as follows:
Bayridge Development LLC,Trustee
434 Broadway
Lawrence,MA 01841
Section 11. Pines Wires Flues Ducts Cables Conduits,.Public Utility Lines and Other
Common Areas located Inside of Units. Each Unit Owner shall have an easement in common with
owners of all other Units to use all pipes, wires, ducts, flues, cables, conduits,public utility lines
and other Common Areas and Facilities located in such Unit and serving other Units or Common
Areas and Facilities or other portions of the Condominium. The Trustees shall have a right of
access to each Unit to inspect the same, to remove or terminate interference therewith or abuse
thereof, and to maintain, repair or replace the common areas or facilities contained therein or
elsewhere in the Building.
Section 12. Units Subiect to Master Deed Unit Deed By-Laws of 33-41 Second Street
Condominium Trust and Rules and Regulations. All of the Units of the Condominium shall be
subject to the provisions of this Master Deed, the Unit Deed, the By-Laws of the Trust and the
Rules and Regulations,as they may be adopted or amended from time to time. The acceptance of
a deed of a Unit shall constitute an agreement that the provisions of this Master Deed, the Unit
Deed, the By-Laws of the Condominium Trust, and the Rules and Regulations, as they may be
adopted or amended from time to time, are accepted and ratified by such owner, and that 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 and shall be binding upon any mortgagee
or lien holder,tenant,visitor, servant, guest,licensee or occupant of such Unit.
Section 13. Declarant's Rights. Notwithstanding any other provision of this Master
Deed or in the related Declaration of Trust, as long as the Declarant holds or controls title to any
Unit, the Declarant hereby reserves to itself, its successors and assigns in their capacity as
Declarant, or its or their nominees,the right and easement to:
A. lease or license any Units owned by the Declarant to any third party without
compliance with the provisions governing leasing in this Master Deed;
B. use any Units owned or leased by the Declarant as models, offices related to
development and sale of remaining Units (but not general office use), and/or storage areas or
otherwise, for purposes of construction,promotion,meetings, and the sale or leasing of Units;
14
Bk 14450 Pg184 #30110
C. to grant permits, licenses and easements over, under, through and across the
common areas of the Condominium for the purpose of installing gas, electricity, telephone, cable
television, and all other utility lines serving the units in the Condominium and such other
equipment as may be necessary for the installation and operation of the same and for other purposes
reasonably necessary or useful for the proper maintenance or operation of the Condominium;and
D. to pass and repass by vehicle and on foot in,upon, over and to the Common Areas
and Facilities of the Condominium for all purposes,including but not limited to,transportation of
construction materials in order to complete construction work on the Condominium,provided that
in the exercise of the rights reserved by the Declarant in this paragraph, the Declarant will not
unreasonably affect the use and enjoyment of the Common Areas and Facilities. Nothing in this
paragraph shall be deemed to create any rights in the general public.
Section 14. Chapter 183A Governs. The Units and Common Areas and Facilities,the Unit
Owners and the Trustees of the Condominium Trust, shall have the benefit of, and be subject to,
the provisions of Chapter 183A in effect on the date this Master Deed is recorded, and in all
respects not specified in this Master Deed or in the Trust and the By-Laws set forth therein, shall
be governed by provisions of Chapter 183A in their relation to each other and to the Condominium
established hereby,including,without limitation,provisions thereof with respect to removal of the
Condominium premises or any portion thereof from the provisions of Chapter 183A.
Section 15. Assi nment by Declarant. All rights which are specified in this Master Deed
to be rights of the Declarant are mortgageable, pledgeabie, assignable or transferable. Any
successor to, or assignee of, the rights of the Declarant hereunder (whether as the result of
voluntary assignment,foreclosure,assignment in lieu of foreclosure or otherwise)shall hold or be
entitled to exercise the rights of Declarant hereunder as fully as if named as such party herein. No
party exercising rights as Declarant hereunder shall have or incur any liability for the acts of any
other party which previously exercised or subsequently shall exercise such rights, except as
provided for in Chapter 183A.
Section 16. Definitions. All terms and expressions used in this Master Deed which are
defined in Chapter 183A shall have the same meanings here unless the context otherwise requires.
Section 17. Waiver. The provisions of this Master Deed shall be waived only in writing
by the party charged therewith,and not by conduct, no matter how often repeated.
Section 18. Partial Invalidity. The invalidity of any provision of this Master Deed shall
not impair or affect the validity of the remainder of this Master Deed and all valid provisions shall
remain enforceable and in effect notwithstanding such invalidity.
[Signature Page Follows]
15
Bk 14450 Pg185 #30110
EXECUTED as a sealed instrument this 19"'day of November,2015
BAYRIDGE DEW LOPMENT LLC
S 1 Gene Espi ola, Manager
COMMONWEALTH OF MASSACHUSETTS
Essex, ss. NovemberV' , 2015
On this 0 day of November,2015,before me,the undersigned notary public,personally
appeared Gene Espinola, Manager of Bayridge Development LLC proved to me through
satisfactory evidence of identification,which were 1��v���� V-"!�`- 1%Source of ID)to
be the person whose name is signed on the preceding or attached document, and acknowledged to
me that he signed it voluntary as Manager for its stated purpose
GREGORY N. s^AToN Notary Public:
* wealth PUBLIC
Commonwealth My Commission Expires:
of Massachusetts
My Commission Expires
January 1, 2021
16
Bk 14450 Pg186 #30110
EXHIBIT A
A certain parcel of land with the buildings thereon situated on the northwesterly side of Second
Street in North Andover,Essex County,Massachusetts,and being shown as Lot A on plan entitled
"Plan of Land in North Andover,Massachusetts, owned by Mary E.Robinson,February 11, 1954.
Ralph B. Brassier, C.E. Haverhill, Massachusetts" said plan recorded in North Essex Registry of
Deeds as Plan#2826, said premises being more particularly bounded and described as follows:
SOUTHEASTERLY one hundred thirty-four and 96/100 feet by Second Street as shown
on said plan;
SOUTHWESTERLY one hundred feet by Lot B as shown on said plan;
NORTHWESTERLY in two courses measuring thirty-three and 84/100 and one hundred
feet by Lot B as shown on said Plan; and
NORTHEASTERLY one hundred five feet by land now or formerly of Village Land Co.,
as shown on said plan.
Containing 14, 005 square feet more or less according to said plan.
Being the same premises conveyed to the Grantor by foreclosure deed of Gene Espinola, dated
July 22, 2013, and recorded in said Registry in Book 13564,Page 222.
17
Bk 14450 Pg187 #30110
EXHIBIT B
UNIT DESCRIPTIONS
Units Unit Descriptions Approximate Square
Footage
Unit 1 3BR,3B,K,LR,DR 2173
Unit 2 3BR, 3B,K,LR, DR 2132
Unit 3 3BR, 3B,K,LR, DR 2173
KEY:
B =Bathroom BR =Bedroom K =Kitchen
LR =Living Room DR =Dining Room BS =Basement
Square footage encompasses finished living space and basement,does not include common areas.
Square footage approximations listed above are based on measurements obtained by the architect
who prepared the floor plans filed herewith. The approximations may be based on total square
footage,so called,and may not correspond with the square footage of usable space,so called. The
Declarant has not independently verified the square footage listed above, and the Declarant
expressly disclaims any warranty as to the precision of the approximation given above.
All Units have access to common areas by way of doors leading to stairs, decks and/or common
area lands all as shown on The Condominium Site and Floor Plans.
18
Bk 14450 Pg188 # 30110
EXHIBIT C
UNIT PERCENTAGE INTERESTS
Units Interest
Unit 1 33 1/3 %
Unit 2 33 1/3 %
Unit 3 33 1/3 %
TOTAL 100%
19