A.
Minimum requirements for subdivision covenants and restrictions.
From and after the effective date of this Ordinance any new residential
subdivision platted for land development in the City of Moscow Mills,
Missouri, shall be encumbered by an indenture of covenants which shall
contain the following minimum requirements:
1.
Indenture of covenants.
a.
The indenture of covenants and restrictions of the subdivision shall
provide that there shall be at least three subdivision managers and
not more than five subdivision managers.
b.
The indenture of covenants and restrictions of the subdivision shall
provide that when title to 50% of the lots depicted on the preliminary
plat of the subdivision are transferred to owners other than the developer
that within 90 days thereof at least one member of the subdivision
managers shall have been elected by the lot owners who are not the
developer.
c.
The indenture of covenants and restrictions of the subdivision shall
provide that when title to 90% of the lots depicted on the preliminary
plat of the subdivision are transferred to owners other than the developer
that within 180 days thereof at least two of the members of the subdivision
managers shall have been elected by the lot owners who are not the
developer.
d.
The indenture of covenants and restrictions of the subdivision shall
provide that when title to 100% of the lots depicted on the preliminary
plat of the subdivision are transferred to owners other than the developer
that within 30 days thereof all members of the subdivision managers
shall have been elected by the lot owners who are not the developer.
3.
There shall be only one class of members of subdivision managers.
4.
Each subdivision having an indenture of covenants and restrictions
shall assess a fee sufficient to cover the cost of enforcement of
said covenants and restrictions.
5.
At the time of the filing with the City of Moscow Mills, or Planning
and Zoning Commission, by the developer of the first final plat for
a subdivision, the developer shall also file proof satisfactory to
the City of Moscow Mills that the developer has deposited in a Trust
Account the sum of $2,000 for the benefit of subdivision lot owners,
other than the developer (the "Trust Account"). A land title company
or Federally insured banking institution selected by the developer
shall serve as trustee for this Trust Account. Any required compensation
for such service as trustee shall be paid by the developer. The instrument
of trust for the Trust Account shall specify that when 10 or more
lots are sold in the subdivision to lot owners other than the developer,
then upon written request of a majority of such lot owners other than
the developer, the trustee of the Trust Account shall pay over to
or for the benefit of said lot owners, or any attorney designated
by the said lot owners, up to the sum of $2,000 for the reasonable
costs and expenses of a lawsuit or lawsuits to enforce any subdivision
covenant and/or restriction which is not being enforced by the subdivision
managers. Said sum shall be paid over to said persons only when the
request for payment for said sum is accompanied by written proof that:
a.
Demand has been made upon the subdivision managers for the subdivision
managers to sue to enforce such subdivision covenant or restriction,
but that the subdivision managers have failed or refused to comply
with such request, and;
b.
Formal written demand has been made upon the person(s) or entity(ies)
allegedly not in compliance with the covenant or restriction, by which
demand was made that such person(s) or entity(ies) come into compliance
with the said covenant or restriction within a specified period of
time, not less than 10 days in length, but that the said person or
entity has failed to comply with the demand. This Trust Account shall
automatically expire and unexpended sums remaining in the Trust Account
shall be paid over to the subdivision managers at such time as all
subdivision managers are elected by the lot owners who are not the
developer.
B.
Applicability and non-applicability. This section shall pertain solely
to subdivisions where a preliminary plat has been filed subsequent
to January 1,2008. This section shall not apply to any condominium
hereinafter established under the provisions of Chapter 448, RSMo.
C.
Plat approvals and building permits. No final plat of any part of
any subdivision shall be approved by the City of Moscow Mills or the
Planning and Zoning Commission unless the minimum requirements of
this section are contained within the indenture of covenants and restrictions
pertaining to such final plat. No Building Permit shall be issued
to any developer by the City of Moscow Mills for improvements on a
lot in the subdivision unless all of the provisions of this section
are contained in the covenants and restrictions and developer is in
full compliance with such covenants and restrictions. No other inquiry
or demands shall be made as to the contents of any indenture of covenants
and restrictions of any subdivision by the City of Moscow Mills, or
the Planning and Zoning Commission, other than to insure compliance
with the minimum requirements of this section.
