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202001090614. As set forth in LFFIA Section 13.3.2, the Master Association upon formation will become <br />a party to the Lt�,IA. Each of the Members and the Master Association shall comply with the requirements <br />of the LEIA <br />E Declarant and Affiliates desire to develop the Property as a planned development known <br />as "Riverfront Everettincluding common areas and facilities, roads and utilities, as generally depicted <br />on the site plan attached hereto as Exhibit C ("Site Plan"), which Site Plan is subject to change from time <br />to time. Declarant anticipates that Riverfront will consist of a combination of multi -family apartments or <br />condominiums, retail stores (including shops, services and restaurants), entertainment facilities, grocery <br />store, health club, recreational facilities, hotel and/or office uses. Some of these uses may be subject to <br />their own covenants, conditions and restrictions and/or have their own owners association. However, any <br />such additional declarations or owners associations shall at all tunes be subject and subordinate to this <br />Master Declaration and the Master Association formed hereunder. Declarant's anticipation of the uses <br />described in this Recital D is neither a guaranty nor a limitation. <br />F. This Master Declaration provides for the development, administration, operation, <br />maintenance and preservation of Riverfront. <br />NOW, THEREFORE, Declarant declares that the Property shall be developed and used in <br />accordance with the following standards and guidelines, which shall apply to and be binding upon each <br />owner, assignee and successor in interest of all or any part of the Property. <br />1 DEFINITIONS <br />AGREEMENTS <br />In addition to the terms defined above and elsewhere in this Declaration, the following teinis shall <br />have the following meanings when used in this Master Declaration: <br />1 1. "Additional Property" means any interest in real property, whether owned by Declarant <br />or not, submitted to this Master Declaration as provided in Section 2.3. Addit .onal Property may include <br />fee interests or lesser interests, including leasehold interests. Additional Property shall not include property <br />owned by the City except to the extent otherwise agreed by the City in its sole discretion. <br />1.2. "Architectural Review Committee" or "ARC" means the committee appointed pursuant <br />to Section 10. <br />1.3. <br />time to time. <br />"Articles" means the Articles of Incorporation of the Master Association, as amended from <br />1.4. "Assessment" means any assessment levied against one or more Members by the Master <br />Association for payment of expenses relating to the Property and shall include General, Special and Limited <br />Assessments. <br />1.5. "Board" means the Board of Directors of the Master Association. <br />1.6. "Business Improvement Area" means a special assessment district established and <br />managed pursuant to RCW Chapter 35 87A, which authorizes all counties, cities and towns to levy and <br />collect assessments on all business and multifamily residential or mixed use projects that benefit from the <br />Business Improvement Area to pay for the costs associated with it. <br />4864-8276 8240, v. 14 <br />