Barnstable Country Registry of Deeds: Book 2531, Page 167, as updated by 8 amendments: Book 2555, Page 271, Book 2579, Page 74, Book 2633, Page 65, Book 2695, Page 227, Book 2754, Page 317, Book 2853, Page 242, Book 2982, Page 279 and Book 3025, Page 287.
MASTER DEED of SEA PINES CONDOMINIUM III
CORCORAN, MULLINS, JENNISON, INC., a Massachusetts corporation having its principal. place of business at 1776 Heritage Drive, Quincy, Massachusetts ("Sponsor") , being the sole owner of the land off Route 6A in Brewster, Barnstable County, Massachusetts, described in Article 1 below, by duly executing and recording this Master Deed, does hereby SUBMIT said land, together with the buildings and improvements erected thereon, and together with all easements, rights, appurtenances belonging thereto (the "Property") to the provisions of Chapter 183A of the General Laws of the Commonwealth of Massachusetts, and does hereby STATE that it proposes to create, and does hereby CREATE, with respect to the Property, a CONDOMINIUM to be governed by and subject to the provisions of said Chapter 183A. The Condominium is to be known as SEA PINES CONDOMINIUM III.
- Description of Land. A parcel of land situated off Route 6A
in Barnstable County, Massachusetts, shown as Lot #3 on a plan entitled
"PLAN OF SEA PINES - Brewster, Mass." Dated February 7, 1977, and
prepared by H. W. Moore Associates, Inc., the original linen tracing of
which is duly recorded with Barnstable County Registry of Deeds in Plan
Book 311, Page 27. Said parcel is more particularly bounded and
described as follows:
A certain parcel of land comprised approximately 14.629 acres on the north side of Route 6A in Brewster, Barnstable County, Massachusetts, bounded and described as follows:
SOUTHERLY by said Route 6A, 110.54 ft; WESTERLY by land now or formerly of Sea Pines School, 448 ft.; NORTHERLY by Sea Pines Condominium I, 61.52 ft.; WESTERLY and SOUTHWESTERLY by land of said Sea Pines Condominium I
along a curve with a radius of 380.00 ft., length 368.34 ft.;
SOUTHWESTERLY again by land of said Sea Pines Condominium 1, 231.30 ft.; SOUTHERLY again by said land of Sea Pines Condominium I, 177.58 ft.; SOUTHWESTERLY by Sea Pines Cemetery, 255.08 ft.; SOUTHERLY by said Sea Pines Cemetery, 118.13 ft.; SOUTHWESTERLY by other land now or formerly of said Sea Pines School, 254.00 ft.; SOUTHERLY again by land now or formerly of said Sea Pines School, 343.00 ft.; WESTERLY by land now or formerly of Worley, Krapohl, Romich and Porter, 381.79 ft.; NORTHERLY by land now or formerly of Esther L. Steffens, 299.79 ft.; WESTERLY by said Steffens land, 518.56 ft.; NORTHERLY by other land of Sponsor, 32.61 ft.; NORTHEASTERLY by other land of Sponsor, 284.98 ft.; EASTERLY by other land of Sponsor, 175.98 ft.; SOUTHEASTERLY by other land of Sponsor, 148.87 ft.; NORTHEASTERLY by other land of Sponsor, 40.00 ft.; NORTHEASTERLY by other land of Sponsor, 225.67 ft.; NORTHERLY by other land of Sponsor, 212.78 ft.; EASTERLY by land now or formerly of Green, Bond and Jorgensen Trust,
and by Pilot's Way (sometimes referred to as Water Street), 316.39 ft..;
SOUTHERLY by Sea Pines Condominium II, 160 ft.; WESTERLY by said Sea Pines Condominium II land, 16.72 ft.; SOUTHERLY again by said Sea Pines Condominium II, 97.01 ft.; EASTERLY by said Sea Pines Condominium II land, 88.00 ft.; SOUTHEASTERLY 33.00 ft.; SOUTHEASTERLY 50.00 ft.; SOUTHERLY 120.44 ft.; and SOUTHEASTERLY 72.74 ft., all by land of said Sea Pines Condominium II; EASTERLY by land of said Sea Pines Condominium II along
a curve with a radius of 171.21 ft., a length of 97.73 ft.;
NORTHEASTERLY by land of said Sea Pines Condominium II, 190.93 ft.; NORTHEASTERLY again by land of said Sea Pines Condominium II, 335.23 ft.; NORTHEASTERLY and EASTERLY along a curve with a radius of 413.00 ft.,
length 399.82 ft. by land of said Sea Pines Condominium II;
NORTHERLY 5.48 ft. by said Sea Pines Condominium II; and EASTERLY 400.90 ft. by land now or formerly of Robert E. Ellis.
EXCEPTING from such parcel an undivided 24/158 interest in the recreational facilities (consisting of two tennis courts) situated therein, it being the intention of Sponsor that Sea Pines Condominium II retain, together with and subject to the rights and easements of all others entitled thereto, an ownership interest in said recreational facilities roughly equivalent to its ultimate proportion of the entire Sea Pines development, without in any way limiting or negating the obligation of said Sea Pines Condominium II and the Unit Owners thereof to pay its and their proportionate share of all expenses of ownership, management, operation and maintenance of such facilities, all as more particularly set forth in the Master Deed of Sea Pines Condominium II.
Together with the right and easement, created hereby and by the Master Deed of Sea Pines Condominium II, or otherwise, of all Unit Owners in Sea Pines Condominium III to use the Beach and Recreational Facilities owned by Sponsor or its successors or assigns or Sea Pines Condominium II, and the right and easement to pass over Sea Pines Drive by foot or vehicle to Route 6A and to the Beach.
There is further excepted, retained and reserved, and the premises are dedicated to condominium use, subject to and with the benefit; of, the following:
- Easement over Sea Pines Drive for the benefit of Sponsor and its
successors and assigns, Unit Owners of Sea Pines Condominiums I and II,
and all other persons entitled of record thereto, subject always to the
obligations of Sea Pines I and II and any condominiums hereafter created
to pay their proportionate shares of the maintenance of Sea Pines Drive
as more specifically provided in the By-Laws.
- Utility easements within said Sea Pines Drive and
elsewhere, created by instruments recorded with Barnstable Deeds Book
1922, Page 1 and Book 2029, Page 323.
- The right and easement, created and reserved hereby, of
Sponsor, its successors and assigns and all Unit Owners of Sea Pines
Condominiums I and II to access to and use of the roads, paths and
recreational facilities within said parcel, subject always to the
obligation of such Condominiums and any condominiums subsequently
created to pay their proportionate shares of common expenses as more
specifically set forth in the By-Laws of such Condominiums.
- The right and easement, created and reserved hereby, of the
Faculty, Staff and enrolled students of the Friendship School, Joseph
E. Corcoran, Joseph H. Mullins, Gary A. Jennison, their immediate
families and not more than four (4) guests each at any given time, and
rights and easements of Russell L. Walp, Esther S. Walp and any other
persons holding similar rights of record, to pass and repass over Sea
Pines Drive and the easement, shown on the plan recorded with the Sea
Pines II Master Deed (2081/126), for the purposes of' access to and
exclusive use of the westernmost 400 feet of beach, and the right of the
Faculty, Staff and enrolled students of Friendship School as aforesaid
to use the tennis courts thereon, subject to reasonable time regulations
as to use and provided that such use does not unreasonably interfere
with the use thereof by the Unit Owners.
- Easement, created and reserved and retained hereby, for the
benefit of the Unit Owners in the Condominium, the Unit Owners in Sea
Pines Condominiums I and II and Sponsor and its successors and assigns,
prohibiting any construction on any open space between structures in the
Condominiums, as and after the same may be finally developed after the
addition of any or all Units contemplated hereby as shown on the plan
recorded herewith or after any legally permissible variation of such
- Rights and easements of Sponsor and Its successors and
assigns, expressly reserved, excepted and retained hereby, to (i)
develop and improve the remaining land submitted to Condominium hereby
(other than "Units" already completed as shown on the above-described
plan), and to add Units to the Condominium by Amended Master Deed as
contemplated hereby; (ii) engage in all activities necessary or
appropriate thereto, including without limitation the use of Sea Pines
Drive for access and egress of construction machinery, equipment and
personnel, construction and sale of additional Units and appurtenances,
maintenance of model units and a sales office in places designated by
Sponsor which do not unreasonably interfere with Unit Owners' use and
enjoyment of the premises; and (iii) all necessary or appropriate
easements in Sea Pines Drive and the remaining land for the construction
and maintenance of utility lines and services to the Property.
- Easement over Sea Pines Drive for the benefit of Sponsor and its successors and assigns, Unit Owners of Sea Pines Condominiums I and II, and all other persons entitled of record thereto, subject always to the obligations of Sea Pines I and II and any condominiums hereafter created to pay their proportionate shares of the maintenance of Sea Pines Drive as more specifically provided in the By-Laws.
- Description of Buildings and Units. The Buildings
are one and two stories, containing one or two units each and
constructed primarily of wood frame on concrete foundations, and in some
cases with concrete basements. Roofing is asphalt shingle and exteriors
are primarily rough-sawn pine siding and cedar shingles. Some Buildings
have attached garages. The designation of each of the completed
dwelling units (the "Units"), a statement of its location, approximate
area, number of rooms, common areas to which it has immediate access,
its designated private patio, and its proportionate interest in the
common areas and facilities (including changes in that interest upon
amendment of this Master Deed pursuant to Article 12 and a statement of
the method of establishing such changes In interest) and the designation
and description of the Units which may hereafter be added to the
Condominium are set forth in Schedule A attached hereto and made a part
hereof and in the sample Unit Floor plans recorded herewith. The
approximate location of Units to be added is set forth on the Master
Site Plan prepared by Cape Cod Survey Consultants, dated June 15, 1977
and recorded with this Master Deed.
- Easement to Use Recreational Facilities and Roads.
While any Unit Owner is a member in good standing of the Association of
Unit Owners established pursuant to Article 8 hereof, such Unit Owner
and his immediate family and (on written permission of the Board of
Managers), his guests and lessees shall be entitled to, and are hereby
GRANTED an EASEMENT for the use, in common with all others thereunto
entitled and in accordance with such Rules and Regulations as may be
established to govern such use, of the clubhouse, pools, tennis courts
and other recreational facilities (including the easternmost 700 feet of
beach and the road thereto) situated, or to be developed, on the
Property or on Condominiums I and II, or on other abutting land of
Sponsor, SUBJECT, ALWAYS, to the obligation of such Unit Owners and the
Condominium created hereby to pay their proportionate share of all
expenses of ownership, management, operation and maintenance of such
facilities, which obligation, and the consequences of default
thereunder, are more specifically set forth in Article XI Section 6 of
- Designation of Common Areas and Facilities. The
common areas and facilities of the Condominium ("Common Elements")
include that portion of the property shown as Phase III and all parts of
the buildings and improvements, now or to be constructed thereon, other
than the Units, and include without limitation the following:
- The land above-described.
- All foundations, structural members, roofs, exterior walls,
interior walls and partitions outside the exposed face of the drywall
enclosing each Unit, floors below the upper surface of the subflooring
(including basement floors where applicable) and ceilings above the
exposed face thereof. Attic space to the face of interior sheathing
shall be part of a Unit and not Common Area. Doors and windows of a Unit
shall, in their entirety, be part of such Unit.
- All lawns, gardens, paths, roads, parking areas, and other
improved or unimproved areas not within the Units, provided, however,
that each Unit owner shall have an EASEMENT for the use of one or more
parking spaces if set forth In the deed for such Unit (the "Unit Deed").
- All conduits, ducts, pipes, plumbing, wiring, flues,
cables, utility lines, sewer and drainage pipes and other facilities for
the furnishing of utility services or waste removal which are outside
the Units, or wherever located in the case of such facilities which
serve parts of the Condominium other than the Unit which contains them.
- All patios, provided, however, that each Unit Owner having
direct access to a patio from the interior of his Unit shall have an
EASEMENT for the exclusive use of such patio.
- All other apparatus and installations existing in the
buildings or on the Property for common use or necessary or appropriate
to the existence, maintenance, use or safety of the Condominium.
- All other items listed as such in Massachusetts General Laws Chapter 183A and located on the Property.
- The land above-described.
- Easements to Certain Common Elements. Each Unit
Owner shall have an easement in common with all other Unit Owners to use
all conduits, ducts, pipes, plumbing, wiring, flues, cables, utility
lines, sewer and drainage pipes and all other Common Elements located in
any of the other Units to use the conduits, ducts, pipes, plumbing,
wiring, flues, cables, utility lines, sewer and drainage pipes and all,
other Common Elements serving any of such other Units and located in
such Unit. The Board of Managers shall have a right of access to each
Unit to inspect the same, to eliminate violations of this Master peed,
the By-Laws, the Rules and Regulations and any other applicable laws or
regulations, and to maintain, repair or replace the Common Elements
contained therein or serviced therefrom.
- Floor Plans. Simultaneously with the recording of'
this Master Deed there has been recorded a set of floor plans for the
completed Units, showing the layout, location, Unit numbers and
dimensions of such Units, stating the description of each Unit and
bearing the verified statement of a registered architect that the plans
fully and accurately depict the layout location, Unit numbers and
dimensions of the Units as built. There has furthermore been recorded
herewith a set of sample floor plan8 showing similar data for all Units
which may be built and added to the Condo minimum hereafter.
- Use of Units. Except for development, leasing and
display of unsold Units by Sponsor, which is hereby expressly permitted,
the Units are intended for single family residential purposes, and no
use may be made of any Unit except as a residence for the Unit Owner
and/or members of his immediate family, or, if permitted or approved by
the Board of Managers pursuant to Article VI, Section 11 of the By-Laws,
as a residence for lessees and their immediate families.
- Association of Unit Owners. An unincorporated
association of Unit Owners through which the Unit Owners will manage and
regulate the Condominium has been formed and has enacted By-Laws
pursuant to said Chapter 183A. The name of the association is Sea Pines
Condominium III Association. The names of the initial Board of Managers
of such association and their respective terms of office are:
Joseph E. Corcoran 5 years Joseph R. Mullins 5 years Robert Pickett 5 years Gary A. Jennison 5 years Paul B. Estabrook 2 years Ronald J. Mackey 2 years Jeffrey Dando 1 year
- Encroachments. If any portion of the Common Elements
now encroaches on any Unit, or if any Unit now encroaches on any other
Unit or on any portion of the Common Elements, or if any such
encroachment shall occur hereafter as a result of (a) settling or
shifting of a building, or (b) alteration or repair to the Common
Elements made by or with the consent of the Board of Managers, or (c) as
a result of repair or restoration of a Unit after damage by fire or
other casualty, or (d) as a result of condemnation or eminent domain
proceedings, a valid easement shall exist for such encroachment and for
the maintenance of the same so long as the buildings shall stand.
- Acquisition of Units by Board of Managers. In the
event (a) any Unit Owner shall surrender his Unit, together with: (i)
the undivided interest in the Common Elements appurtenant thereto; (ii)
the exclusive right or easement of such Unit Owner to use any parking
space or patio; (iii) the Interest of such Unit Owners in any other
Units acquired by the Board of Managers or Its designee on behalf of all
Unit Owners or the proceeds of the sale or lease thereof, if any; (iv)
the Interest of such Unit Owner in any other assets of the Condominium;
and (v) any other rights or interests which such Unit Owner may have as a
result of his membership in the Association of Unit Owners (hereinafter
collectively called the "Appurtenant Interests"); (b) the Board of
Managers shall purchase from any Unit Owner, who has elected to sell the
same, a Units, together with the Appurtenant Interests, pursuant to
Section 1 of Article VIII of the By-Laws; (c) the Board of Managers
shall purchase, at a foreclosure or other Judicial sale, a Unit,
together with the Appurtenant Interests; or (d) the Board of Managers
shall purchase a Unit, together with the Appurtenant Interests, for use
by a resident manager, then in any of such events title to any Unit,
together with the Appurtenant Interests, shall be acquired and held by
the Board of Managers or its designee, corporate or otherwise, on behalf of all
Unit Owners. The lease covering any Unit leased by the Board of
Managers, or its designee, corporate or otherwise, shall be held by the
Board of Managers, or its designee, on behalf of all Unit Owners, in
proportion to their respective common interests.
- Units Subject to Master Deed, Unit Deed, By Laws and Rules and Regulations.
All present and future owners, tenants, visitors, servants and
occupants of Units shall be subject to, and shall comply with, the
provisions of this Master Deed, the Unit Deed, the By-Laws and the Rules
and Regulations, as they may be amended from time to time, and the
items affecting the title to the Property as set forth In Article 1
above. The acceptance of a deed or conveyance or the entering into
occupancy of any Unit shall constitute an agreement that (a) the
provisions of this Master Deed, the Unit Deed, the By-Laws and the Rules
and Regulations, as they may be amended from time to time, and the said
items affecting title to the Property are accepted and ratified by such
owner, tenant, visitor, servant or occupant, and 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 or conveyance or lease thereof, and (b) a violation
of the provisions of this Master Deed, the Unit Deed, By-Laws or Rules
and Regulations by any such person shall be deemed a substantial
violation of the duties of the Condominium Unit Owner.
- This Master Deed may be amended by an instrument in writing
signed by at least 66-2/3% in common interest of all Unit Owners, cast
In person or by proxy at a meeting duly held in accordance with the
provisions of the By-Laws, evidenced In either case by recording a
certificate to such effect, signed by a majority of the Board of
Managers, with Barnstable Deeds, provided, however, that, without the
consent of any Unit Owner, or any mortgagee, the Sponsor, or its assigns
or its successor In title to all or any portion of Phase III shown on
the plan referred to In Article 1 hereof, may, at any time, unilaterally
amend this Master Deed so as to submit to the provisions of
Massachusetts General Laws Chapter 183A all or any combination of the
Units described in the attached Schedule A which are hereafter
constructed on the Property as shown on the plan referred to In Articles
1 and 2 hereof. Any such Unit may be added in any sequence and at any
location in Sponsor's sole discretion and nothing contained herein shall
constitute a warranty or representation obligating the Sponsor to
construct or dedicate additional buildings or Units. Any such amendment
shall contain with respect to any such additions, all of the particulars
required by said Chapter 183A. All Unit Owners, Unit Mortgagees and
their heirs, administrators, successors, assigns and legal
representatives, by their acceptance of a Unit Deed or mortgage subject
to the provisions hereof, DO HEREBY assent to such amendments and grant
to Sponsor and its successors and assigns an irrevocable power of
attorney, coupled with an interest, to execute, seal, deliver and record
on their behalf any and all such amendments. In no event shall (i) the
total number of Units in the entire Sea Pines Development presently
owned by Sponsor and Sea Pines Condominiums I and II exceed 176, (ii)
the total number of Units in this Sea Pines Condominium III exceed 46,
or (iii) the Unit Owners amend this Masters Deed in any fashion, which
would interfere with Sponsor's right; to complete the development and
add units as aforesaid.
- No Severability. No Unit Owner may or shall execute
or make any deed, mortgage or other conveyance of his Unit without
including in such conveyance the Appurtenant Interests (specifically
including without limitation any beach rights and rights in recreational
facilities which may arise as a result of membership in the Association
of Unit Owners), it being the intention hereof that there be no
severance of Unit Ownership from Appurtenant Interests and no retention of
beach rights or interests except as the same may devolve from then
current Unit Owner and Membership in the Association of Unit Owners.
- Invalidity. The invalidity of any provision of this
Master Deed shall not be deemed to impair or affect in any manner the
validity, enforceability or effect of the remainder of this Master Deed
and, in such event, all of the other provisions of this Master Deed
shall continue in full force and effect as if such invalid provision had
never been included herein.
- Waiver. No provision contained in this Master Deed
shall be deemed to have been abrogated or waived by reason of any
failure to enforce the same, irrespective of the number of violations or
breaches which may occur.
- Captions. The captions herein are inserted only as a
matter of convenience and for reference, and in no way define, limit or
describe the scope of this Master Deed nor the intent of any provision
- Conflicts. This Master Deed is set forth to comply with the requirements of Chapter 183A of the General Laws of the Commonwealth of Massachusetts. In case any of the provisions hereof conflict with such requirements, the provisions of said statute shall control.
IN WITNESS WHEREOF, the Sponsor has caused this Master Deed to be executed by its duly authorized officer and its corporate seal to be hereunto affixed this 17th day of June 1977.
CORCORAN, MULLINS, JENNISON, INC.
By Joseph E. Corcoran, Pres
By Gary A. Jennison, VP, Treasurer
|# of Rooms||Unit Model Index||Loca-tion
|Friend-ship 10||Extended Cape||1305||5||1.305||.45||Full
|Friend-ship 11||Ranch Cape||1000||5||1.000||.45||Garage
|Friend-ship 12||Ranch Cape||1000||5||1.000||.45||Garage
|Friend-ship 14||Ranch Cape||1000||5||1.000||.45||--||.450||.015|
|Friend-ship 15||Ranch Cape||1000||5||1.000||.45||--||.450||.015|
|Friend-ship 16||Ranch Cape||1000||5||1.000||.45||--||.450||.015|
|Friend-ship 17||Ranch Cape||1000||5||1.000||.45||Garage
|Friend-ship 18||Ranch Cape||1000||5||1.000||.45||Garage
|Friend-ship 19||Salt Box||1390||6||1.390||.45||Garage
|Friend-ship 20||Ranch Cape||1000||5||1.000||.45||Garage
|Hollow 1||Ranch Cape||1000||5||1.000||.50||Garage
|Hollow 2||Ranch Cape||1000||5||1.000||.50||Garage
|Hollow 3||Ranch Cape||1000||5||1.000||.50||Garage
|Hollow 4||Ranch Cape||1000||5||1.000||.50||Garage
|Hollow 5||Ranch Cape||1000||5||1.000||.50||--||.500||.017|
|Hollow 6||Ranch Cape||1000||5||1.000||.50||Garage
|Hollow 7||Ranch Cape||1000||5||1.000||.50||Garage
|Hollow 8||Salt Box||1390||6||1.390||.50||Garage
|Hollow 9||Salt Box||1390||6||1.390||.50||Garage
|Hollow 10||Salt Box||1390||6||1.390||.50||Garage
|Hollow 11||Salt Box||1390||6||1.390||.50||Garage
|Hollow 12||Ranch Cape||1000||5||1.000||.50||Garage
|Dune-ward 1||Garden "R-Bay"||1330||5||1.330||.60||--||.798||.027|
|Dune-ward 2||Garden "L-Bay"||1330||5||1.330||.60||--||.798||.027|
|Dune-ward 3||Garden "R-Bay"||1330||5||1.330||.60||--||.798||.027|
|Dune-ward 4||Garden "L-Bay"||1330||5||1.330||.60||--||.798||.027|
|Dune-ward 5||Garden "R"||1530||6||1.530||.60||--||.918||.031|
|Dune-ward 6||Garden "L"||1530||6||1.530||.60||--||.918||.031|
|Dune-ward 7||Brewster "R"||1200||5||1.200||.65||--||.780||.026|
|Dune-ward 8||Brewster "L"||1200||5||1.200||.65||--||.780||.026|
|Dune-ward 9||Garden "R"||1530||6||1.530||.70||--||1.071||.036|
|Dune-ward 10||Garden "L"||1530||6||1.530||.70||--||1.071||.036|
|Dune-ward 11||Carriage "R"||1600||6||1.600||.70||--||1.120||.038|
|Dune-ward 12||Carriage "L"||1600||6||1.600||.70||--||1.120||.038|
|Dune-ward 13||Brewster "R"||1200||5||1.200||.65||--||.780||.026|
|Dune-ward 14||Brewster "L"||1200||5||1.200||.65||--||.780||.026|
* The areas set forth in this Schedule A are of the primary living space (as designated) only. In addition thereto each Unit has included therein a private outside patio and the exclusive right to the use of (i) the parking space(s) described in the Unit Deed, and (ii) any attic to which such Unit is immediately adjacent or has direct access from within such Unit.
** Explanatory Note
As Units are added by Sponsor, the fair value ratio index of each Unit may be determined by multiplying the Unit Model Index of the Unit by the location factor attributable to it and then adding the option index for any applicable option. For example, a Ranch Cape in the "Hollow" with full basement would have a fair value ratio index of Unit Model Index (1.000) X Location Factor (.50) + Option Index (.035) = .535. A table of Unit Mode indices, location factors and option indices for all possible subsequent Units of the Condominium is set forth on the following page. The proportionate interests of all Units may then be calculated by dividing the fair value ratio index of each such Unit by the Sum of the fair value ratio indices of all Units which will then have been built and added to the Condominium by Sponsor. For example, if the Unit described above were next to be added to the Condominium, its proportionate interest would be:
[ fvri of new unit (.535) / fvri of completed units (2, 3, 7, 8, 12, 13 above) + fvri of new unit (.535) ] = .535 / 3.422 = .156
and the proportionate interest of Friendship 2 (above) would become, by the same formula,
.450 / 3.422 = .132
With respect to the Units to be added the Condominium by amendment, the following optional Construction Items may be added to any of them.
Such option will not materially affect the structure or configuration of any such Unit, but each will increase the Fair Value Ratio Index of such Unit as follows:
Such increase of the Fair Value Ratio Index will be indicated in the Amended Master Deed filed at the time such Unit is added to the Condominium.
Any of the above Unit models, described in detail on the Plans recorded with this Master Deed, can be placed at any of the approximate locations shown on the Site Plan also filed herewith.