Reciprocal Easements, Cost Sharing Agreements and CC&Rs;
Reciprocal Easements, Cost Sharing Agreements and CC&Rs;
Reciprocal Easements, Cost Sharing Agreements and CC&Rs;
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Nancy T. Scull of Luce, Forward, Hamilton & Scripps LLP Speaker 9: 18<br />
www.luce.com<br />
Insuring the Easement Areas<br />
• Easy in a Horizontal<br />
REA<br />
– Operator or Owner<br />
– Easement areas will<br />
probably not include the<br />
building<br />
– Easement Area is rebuilt<br />
if Building is rebuilt<br />
– If no rebuilding,<br />
Benefitted Easement<br />
Holder can rebuild<br />
• Complex in CC&<strong>Rs</strong> or<br />
REA for a Single Building<br />
– Association or one owner<br />
– Do not divide property<br />
insurance obligation<br />
– Named Insured - controls<br />
insurance issues<br />
– Additional Insureds – gives<br />
other owners rights<br />
101054839.1 35<br />
www.luce.com<br />
Damage <strong>and</strong> Destruction<br />
Address it in REA or CC&<strong>Rs</strong><br />
• What happens when<br />
insurance is not<br />
adequate to repair?<br />
101054839.1 36<br />
Law Seminars International | Development <strong>Agreements</strong>, <strong>Easements</strong> <strong>and</strong> CC<strong>Rs</strong> | 12/5/07 in Las Vegas, NV
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