RecD07 2007-087633 - Laserfiche WebLink

Browse Search

(Page 12 of 20) (ix) the arbitrator shall be authorized to provide all recognized remedies available in law or equity for any cause of action that is the basis of the arbitration, provided that the arbitrator shall not have the authority to award punitive damages; (x) the arbitrator in his or her discretion may award costs and/or attorneys' fees to the party that the arbitrator determines was the prevailing party, taking into account any party's failure to participate in the procedures described in Sections 5.2 and/or 5.3; and (xi) the arbitrator's award shall be final and binding onthe parties unless corrected or validated under the grounds authorized in Code of Civil Procedure section 1286.2 or 1286.6. The arbitrator's award may be enforced in any court of competent jurisdiction Article 6 - Miscellaneous 6.1 Term of Declaration. The Declaration contained herein shall be effective for a term of 50 years from the date this Declaration is recorded in the records of San Mateo County, California, after which time the term shall automatically be extended for successive ten-year periods unless on or before commencement of any successive ten-year period a Majority of the Lot OWners elects to terminate this Declaration. A termination of this Declaration does not terminate the easements described in Section 2.1. 6.2 Notice. Each Lot Owner covenants to provide each other Lot Owner with a current address for purposes of receiving notices. Any notice or demand permitted or required herein shall be conclusively considered received by the Lot Owner when personally delivered to the Lot Owner, or 72 hours after the notice has been deposited in the United states mail, certified or a return receipt requested, postage prepaid. and addressed to such address as the Lot Owner has provided each other Lot Owner for purposes of receiving notice hereunder. If no address has been provided, notice shall be considered received 72 hours after notice is posted on the OWner's Lot and a copy mailed to the last known address of the Lot Owner, which may be the address of the Lot. 6.3 Multiple Lot Owners. If there are mUltiple owners of a Lot, each Lot Owner shall be jointly and severally liable for the duties contained herein. The consent or approval obtained from anyone Lot Owner shall conclusively be considered the consent or approval of all the Owners of that Lot 6.4 Liability Insurance. Each lot Owner is stronalv advised to contact a competent insurance consultant regarding the procurement of liability insurance either through the lot Owner's homeowner's policy (or an endorsement thereto) or through a separate policy for protection against any liability that may arise as a result of the performance or nonperformance of the Lot Owner's duties under this Declaration. Shared Costs do not include the costs to procure and maintain a separate liability policy for this purpose. 6.5 Mortaaoee Protection. Nothing herein shall be interpreted to render invalid any deed oftrust or mortgage on any Lot. No beneficiary under any such deed of trust, purchaser at a foreclosure sale of such deed of trust or grantee of a deed in lieu of foreclosure shall be obligated to cure any default of the previous Lot OWner unless such obligation is expressly assumed in writing, provided that the purchaser or grantee upon receiving title to the lot shall take title subject to this Declaration and shall assume the obligations of a Lot Owner accruing from and after the date the purchaser or grantee received title. 6.6 Attorneys' Fees. If any action is commenced regarding the rights or duties of the Lot owners, the prevailing party in such action shall be entitled to recover the costs of such action and reasonable attorneys' fees. 6.7 Covenants Runninc with the Land and Eauitable Servitudes. The covenants, restrictions, rights, duties, benefits and burdens contained herein constitute covenants running with the land and equitable F :\LJW-DA T A\\NPDocs\YamtOakw\YamtOakw.goeV7 .wpd 9 May 17, 2007