Courthouse Square Agreements (compiled notebook)

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perimeter walls, floors and ceilings which is owned in fee simple by ea h Unit owner and which is more specifically described in Section 3.2 of this Declar~tion. 2. LAND DESCRIPTION. ;~ I 2.1 Land Submitted to Unit Ownership. The interest being submitte to the Oregon Condominium Act is the Declarant's interest under that 75 year ground lease betwe n Declarant as lessee and the Salem Area Mass Transit District and Marion County, co-tenants, as lessor. The real property which is the subject of the ground lease is located in the City of Sa em, County of Marion, State of Oregon, and is more particularly described as Block 5, SALEM, arion County, Oregon. The northerly feet of Block 5 is hereby designated as variable prope and the rights provided under ORS 100.150(1) are being reserved without any limitation other th the limitation that the supplemental declararion and plat be approved by all of the then existing uni owners. 2.2 Variable PropertX. The ternunation date of the variable property hall be July 1, 2001. The ma~cimum number of units that may be created in the variable property s all be 10. The minimum allocation of undivided interest in common elements of each unit upon c mpletion if all units aze craeated shall be 1%, but the actual allocation as each unit is created shal be determined by the Board of Directors of the association of Unit owners based on the square footage of the units created and the probable benefit of common elements to the units created There are no existing improvements on the variable property. The nature and proposed use of i provements on the variable property is consumer oriented retail and commercial off'ice use, wit transit related elements. The Declarant reserves the right to create limited common elements wi in the variable property consisting of parking spaces. If by the terminatio date of July 1, 2001 all or a portion of the vaziable property designated as nonwithdrawable variable property has not bee withdrawn or reclassified, such property shall automatically be withdrawn from the condomin um as of such date. As provided under ORS 100.155(2), any variable property automatically wit drawn may be later annexed to the condominium by the recording of a supplemental declaratio and plat. The variable property may be withdrawn from the condominium. The statement by the ocal governing body or appropriate department that the withdrawal of the variable property will ot violate any applicable planning or zoning regulation or ordinance is attached as an Exhibit. ' 3. NAME AND UNIT DESCRIPTION. 3.1 Name. The name by which the property submitted hereunder shall t~e known is the COURTHOUSE SQUARE CONDOMINIUM. ; 3.2 Boundaries of Units. The Mall Unit shall be bounded by the vertical F upwards at the perimeter shown on the plat and shall be bounded by horizontal pla the upper surface of the Parking Unit shown on the plat. Each Off'ice Unit shall be interior surfaces of the studs in its perimeter walls, the unfinished floors, and ceilit Units shall include all lath, furring, wallboard, plasterboard, plaster, paneling, t paint, finished flooring, ceiling tiles or material and any other materials constitutin finished surfaces and the exterior surfaces so described. All other portions of the ceilings shall be a part of the common elements, including, without limitatior window frames. In addition, each Office Unit shall include the following: (a) All spaces, interior partitions, trim, exterior doors, door fran fixtures and improvements within the boundaries of the Unit, including wi anes extending ~e tangential to ~ounded by the ;s. The Office es, wallpaper, any part of its ~valls, floors or windows and and all other t limitation, ~ Page 2. Condominium Declaration 0923970920