FOURTH AMENDMENT TO DECLARATION OF CONDOMINIUM by alicejenny

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									FOURTH AMENDMENT TO
DECLARATION OF CONDOMINIUM
FOR WESTON PLACE CONDOMINIUM

      Re: Property described on Exhibit A




                                                   Return to:
                                                   Julie Tjugum-Rasmussen
                                                   Reinhart Boerner Van Deuren s.c.
                                                   P.O. Box 2018
                                                   Madison, WI 53701-2018

                                                   See Exhibit A
                                                   Parcel Numbers
REINHART\2963052JFO:JFO 11/04/09




                                FOURTH AMENDMENT TO
                             DECLARATION OF CONDOMINIUM
                                         FOR
                              WESTON PLACE CONDOMINIUM


        This Fourth Amendment (this "Fourth Amendment") is made by those
owners of units within Weston Place Condominium, located in the City of
Madison, Dane County, Wisconsin (the "Condominium), who have executed this
Amendment, and who collectively constitute the holders of over 67% of the
undivided percentage interests of the common elements of the Condominium and
of over 67 % of the votes in Weston Place Condominium Owners Association,
Inc., a Wisconsin corporation (the "Association"), and by their respective
Mortgagees.
                                 RECITALS:

        A.         A declaration of condominium creating Weston Place
Condominium (the "Condominium") was recorded with the Dane County Register
of Deeds on June 16, 2005, as Document No. 4067286.

B.         On August 29, 2006, the declarant of the Condominium executed and
recorded with the Dane County Register of Deeds, as Document No. 4229623, a
first amendment to declaration of condominium.

C.         On April 19, 2007, the Association caused to be recorded with the Dane
County Register of Deeds, as Document No. 4300685, a second amendment to
declaration of condominium.

D.       On ___________, 2009, the Association caused to be recorded with the
Dane County Register of Deeds, as Document No. ____________, a third
amendment to declaration of condominium.

E.         Said declaration, as modified by said amendments, is referred to herein
as the "Declaration."

F.         All terms capitalized but not defined in this Amendment that are defined
in the Declaration shall have the meanings assigned to such terms by the
Declaration.

G.         The undersigned Unit Owners and Mortgagees desire to amend the
Declaration in accordance with this Amendment.

        NOW THEREFORE, the Declaration is hereby amended as follows:

1.         Section 12.07 is hereby amended to read, in its entirety (additions are
indicated by underlining):

      If (a) the Unit Owners having seventy-five percent (75%) or more of the
      votes consent to subject the Condominium to an action for partition as
      provided in Section 12.01(c), and (b) the Mortgagees of at least fifty-one
      percent (51%) of the mortgaged Units agree to an action for partition, the
      Association shall record with the office of the Register of Deeds for Dane
      County, Wisconsin, a notice setting forth such facts, and upon the recording
      of such notice, the Condominium shall be subject to an action for partition,
      in which event the net proceeds of sale together with any amounts held by
      the Association as Construction Funds shall be considered as one fund and
      shall be divided among the Unit Owners according to the percentage interest
      in the Common Elements as determined under Section 6.01(a) that is
      appurtenant to each Unit. Exclusive Benefit Construction Funds shall be
      disbursed as provided in Section 12.06(b).

2.         Section 13.07 is hereby amended to read, in its entirety (additions are
indicated by underlining):

      If (a) the Unit Owners having seventy-five percent (75%) or more of the
      votes consent in writing to subject the Condominium to an action for
      partition as provided in Section 13.02(a), and (b) the Mortgagees of at least
      fifty-one percent (51%) of the mortgaged Units agree to an action for
      partition, the net proceeds of sale together with any net proceeds of the
      award for taking shall be considered as one fund and shall be divided among
      all Unit Owners in proportion to the percentage interest in the Common
      Elements as determined under Section 6.01(a) that is appurtenant to each
      Unit.

3.         The first paragraph of Section 14.01 is hereby amended to read, in its
entirety (additions are indicated by underlining):

      Any holder of a recorded mortgage or any vendor under a recorded land
      contract encumbering a Unit (a "Mortgagee") or any guarantor of a recorded
      mortgage or land contract encumbering a Unit that has so requested of the
      Association in a writing received by the Association as agent for service of
      process shall be entitled to receive timely written notice of the following
      matters:

4.        New subsections (e), (f) and (g) are hereby added to Section 14.01 of the
Declaration, to read as follows:
                          (e)         Any condemnation or casualty loss that affects
       either a material portion of the Condominium or the Unit securing the
       mortgage or land contract.

                        (f)       Any sixty (60)-day delinquency in the payment
       of any charges and assessments owed by the owner of any Unit securing the
       mortgage or land contract.

                         (g)        Any proposed action that requires the consent
       of a specified percentage of Mortgagees.

5.         Section 14.02 is hereby amended to read, in its entirety (additions are
indicated by underlining):

                Notwithstanding the provisions of Article XV of this Declaration,
      neither Article XV, this Section, nor any Section of this Declaration
      requiring the approval of any Mortgagee to any action shall be amended
      unless all Mortgagees have given their prior written approval. The
      Mortgagees of at least fifty-one percent (51%) of the mortgaged Units must
      consent to an amendment that is materially adverse to the Mortgagees'
      interests. If a Mortgagee does not respond within sixty (60) days after
      receipt of proper notice of any written proposal to amend this Declaration,
      such amendment shall be deemed approved by that Mortgagee, provided
      such notice was delivered to the Mortgagee by certified or registered mail
      with a "return receipt" requested.

6.          Except as modified hereby, all terms of the Declaration shall remain in
full force and effect, and, unless otherwise defined herein, all terms shall have the
meaning set forth in such Declaration.

[Signature Pages Follow]



                                 OWNER CONSENT:

                                 Owner(s) of Unit ________:
                                   Signature:

                                   Name (printed):


                                   Signature:

                                   Name (printed):


                             ACKNOWLEDGMENT

STATE OF WISCONSIN                   )
                                     ) ss.
COUNTY OF DANE                 )

Personally came before me this         day of ________, 2009, the
above‑named                                                    , who executed
the foregoing instrument, and acknowledged the same.


Name:
Notary Public, State of Wisconsin
                               My Commission:


                           MORTGAGEE CONSENT

       The undersigned, being the holder of a mortgage recorded against Unit
____, Weston Place Condominium, hereby executes and consents to the above
amendment and agrees that its interest in said property is subject to the terms of the
amendment.


                                         MORTGAGEE:
                                    By:_______________________________
                                    Name:____________________________
                                    Title:_____________________________



                   ACKNOWLEDGMENT
STATE OF WISCONSIN    )
                      ) ss.
COUNTY OF DANE      )


Personally came before me this   day of ________, 2009, the above‑named
____________________________, who executed the foregoing instrument, and
acknowledged the same.

Name:
Notary Public, State of Wisconsin
                               My Commission:


REINHART\2963052JFO:JFO 11/04/097

								
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