Reciprocal Easements, Cost Sharing Agreements and CC&Rs;
Reciprocal Easements, Cost Sharing Agreements and CC&Rs; Reciprocal Easements, Cost Sharing Agreements and CC&Rs;
Nancy T. Scull of Luce, Forward, Hamilton & Scripps LLP Speaker 9: 6 www.luce.com Factors in Selecting an REA or CC&Rs with an Owners Association Riverpark 1. Nature of Easements 2. Statutory or Regulatory Issues 3. Objective for Control 4. Comparable Values of the Residential/Commercial Interests 5. Concern for balance and fairness 6. Lender issues 7. When do you want to impose the covenants? The Avenue 101054839.1 11 www.luce.com Common Theme and Goal in a Mixed Use REA or CC&Rs 1. Divergent Interests: Mixed Marriage of Residential and Commercial – are not necessarily compatible! 2. Commercial Owners – One Goal • Minimize Contact with Residential Owners 101054839.1 12 Law Seminars International | Development Agreements, Easements and CCRs | 12/5/07 in Las Vegas, NV
Nancy T. Scull of Luce, Forward, Hamilton & Scripps LLP Speaker 9: 7 www.luce.com 1. What does an REA or CC&Rs need to address? Easement Rights Maintenance Obligations Cost Sharing Allocations (depends upon nature of easement areas) Cure Rights Damage & Destruction Use Restrictions 101054839.1 13 www.luce.com The Easement Process Reserve (Declarant hereby reserves) or simply Grant (Declarant or Owner of Lot 1 hereby grants to) To 101054839.1 14 Law Seminars International | Development Agreements, Easements and CCRs | 12/5/07 in Las Vegas, NV
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Nancy T. Scull of Luce, Forward, Hamilton & Scripps LLP Speaker 9: 6<br />
www.luce.com<br />
Factors in Selecting an REA or CC&<strong>Rs</strong><br />
with an Owners Association<br />
Riverpark<br />
1. Nature of <strong>Easements</strong><br />
2. Statutory or Regulatory Issues<br />
3. Objective for Control<br />
4. Comparable Values of the<br />
Residential/Commercial<br />
Interests<br />
5. Concern for balance <strong>and</strong><br />
fairness<br />
6. Lender issues<br />
7. When do you want to impose<br />
the covenants?<br />
The Avenue<br />
101054839.1 11<br />
www.luce.com<br />
Common Theme <strong>and</strong> Goal in a<br />
Mixed Use REA or CC&<strong>Rs</strong><br />
1. Divergent Interests: Mixed Marriage of<br />
Residential <strong>and</strong> Commercial – are not<br />
necessarily compatible!<br />
2. Commercial Owners – One Goal<br />
• Minimize Contact with Residential Owners<br />
101054839.1 12<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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