Common use of Compliance Deposit Clause in Contracts

Compliance Deposit. The Submission Requirements include a Compliance Deposit which must be paid to the Association prior to the initiation of ACC review. The Compliance Deposit is paid to the Association as security against violation of the Restrictions, the Construction Rules, the Approval and Construction Requirements, and any damage caused to the Association’s common areas, streets, or other property in the Development. The ACC or a majority of the Board may increase the Compliance Deposit in the event the ACC or a majority of the Board determine that the amount is insufficient to secure compliance with the Restrictions, the Construction Rules, or the Approval and Construction Requirements, or to protect the Development from damage caused or occasioned by construction of the proposed improvements. The determination to increase the Compliance Deposit may be based on prior violations by the Owner or Builder of the Restrictions, Construction Rules, Approval and Construction Requirements, or any other rules promulgated by the Association or the ACC, the experience or lack of experience of the Builder within the Development, or the nature of the construction methods associated with the proposed improvements. In the event the ACC or the Association determines that the Owner or Builder has violated the Restrictions, the Construction Rules, or the Approval and Construction Requirements or has otherwise caused damage to the Association’s common areas, streets, or other property in the Development, the Association will provide written notice to the Owner in accordance with applicable law. In general, this notice will include: (i) a description of the violation; (ii) a reasonable time to correct the violation; and (iii) an opportunity to appeal the violation to the ACC or the Board. The requirement to provide notice will in no event prevent the Association from initiating an action with the appropriate court to obtain a temporary injunction or to eliminate the right to a hearing if a same or similar violation has occurred within 6 months of the current violation. If the Owner fails or refuses to cure the violation on or before the time period specified in the notice provided by the Association, the Owner will be required to increase the Compliance Deposit by an amount reasonably determined by the Association to discharge fines and penalties or repair the property damage identified in the notice. The additional Compliance Deposit required by the previous sentence will be returned to the Owner if a hearing is required, the Owner requests a hearing, and the ACC or Board determines to reduce or eliminate the additional amounts required to the deposited by the Owner. If a hearing is not conducted, or a hearing is conducted and the violation or damage is confirmed by the ACC or Board, the ACC or the Association may use the Compliance Deposit to discharge fines, penalties, and costs associated with the violation of the Restrictions, the Construction Rules, or the Approval and Construction Requirements, or the repair of any damage to the Association’s common areas, streets, or other property in the Development. If the balance of the Compliance Deposit reaches $500 or less as a result of such application, Owner, upon request of the ACC or the Association, shall immediately deposit the amount necessary to restore the original balance of the Owner Deposit. Upon completion of the proposed improvements and a final ACC inspection, the Compliance Deposit or any balance remaining will be refunded upon request of the Owner. No interest shall be payable on the Compliance Deposit. The ACC will grant the final approval of the completed landscaping project before the refund of the Compliance Deposit is approved and may at that time require additional, more dense, or larger plant material in order to achieve the final desired aesthetic appearance. In all instances, the Restrictions, the Construction Rules for each neighborhood will be followed. Architectural and Landscape Standards: Aesthetic appearance of the landscape includes, but is not limited to: - Foundation for Main Dwelling shall be properly screened if facing the road. There will be a maximum of 12” for exposed foundation. Grade must be raised to meet that height with use of retaining walls, raised planter beds or fill of top soil. Foundation will be finished and painted to match the approved masonry finish of the Dwelling that it is located underneath. - All trash enclosures shall be of solid wall construction using the same materials as the existing walls of the Dwelling Unit. Each enclosure shall be constructed to accommodate two 96-gallon trash containers. The dimensions of the enclosure shall be no more than forty-eight (48”) inches in height, eighty-four (84”) inches inside depth, and forty-two (42”) inches inside width. The gate shall be no wider than forty (40”) inches wide and be constructed of wrought iron, with solid backing to obscure the trash from view. Trash containers may not be visible above the walled enclosure. All trash enclosures shall be placed in an area that is readily accessible to the trash workers, and the swing of the gate shall conform to the approach. The gate shall have a latch, or a hand lever, that allows easy access by the trash workers. All trash enclosures are to be dimensioned, and included as part of the floor plan as submitted to the ACC. In particular, for front or side loading garages, Builder and /or Architect shall make every effort to prevent the enclosure from being a prominent feature in the overall appearance of the Dwelling Unit. - Please refer to Exhibit C, Landscape Standards, for required plantings, sizing and design standards.