Master Deed 3529



THIS FOURTH CORRECTED AMENDED MASTER DEED OF BURNT TAVERN MANOR CONDOMINIUM made this 28th day of April, 1976, by Burnt Tavern Manor, Inc., a corporation of the State of New Jersey, having an office c/o Greenbaum, Greenbaum, Rowe and Smith, One Woodbridte Center, Woodbridge, New Jersey, 07095 (hereinafter referred to as “Grantor”):

WHEREAS, by Master Deed dated May 10, 1973, and recorded in the Office of the Clerk of Ocean County on June 8, 1973, in Book 3309 of Deeds at page 49, et seq., Grantor established Burnt Tavern Manor Condominium (hereinafter referred to as “Burnt Tavern Manor”) pursuant to N.J.S.A. 46:8B-1 through 30; and

WHEREAS, said Master Deed has heretofore been variously amended by the following documents;

(I) Amended Master Deed, dated July 27, 1973 and recorded August 10, 1973, in Book 3327 of Deeds for Ocean County, at page 1, et seq.; and

(ii) Corrected Amended Master Deed, dated November 19, 1973 and recorded December 6, 1973, in Book 3356 of Deeds for Ocean County, at page 743, et seq.; and

(iii) Second Corrected Amended Master Deed, dated March 27, 1974 and recorded April 17, 1974, in Book 3381 of Deeds for Ocean County, at page 420, et seq; and

(iv) Third Corrected Amended Master Deed, dated August 29, 1975 and recorded August 29, 1975, in Book 3477, at page 550, et seq.; and


WHEREAS, pursuant to Section 7 of said Master Deed, grantor has reserved the right until July 27, 1978 to execute any amendments to said Master Deed or the By-Laws of Burnt Tavern Manor which may be required by an institutional mortgage lender or by any governmental agency having regulatory jurisdiction over Burnt Tavern Manor; and

WHEREAS, Grantor has made application to Suburban Savings and Loan Association for permanent mortgage financing for future Unit purchasers at Burnt Tavern Manor, which financing is to be eligible for sale to the Federal Home Loan Mortgagte Corporation; and

WHEREAS, as a condition precedent to the granting of its’ commitment and approval to purchase any such permanent mortgages, the Federal Home Loan Mortgage Corporation will require certain additional amendments to the Master Deed and By-Laws as hereinafter set forth; and

WHEREAS, Suburban Savings and Loan Association will not issue any mortgage commitments with respect to any Unit at Burnt Tavern Manor unless such amendments are made:


1. That the first sentence of Section 2 of the Master Deed be amended to read as follows:

“Burnt Tavern Manor contains forty-nine (49) buildings divided into six (6) seperate sections as shown on Exhibit B-2 attached hereto and made a part hereof  and includes all rights, roads, water, privileges and appurtenances thereto belonging or appertaining. …”

2. That Section 11 of the Master Deed be amended to add the following:


Obligations of Members and Occupants

11. * * * 

In the event of any such failure which is not cured within sixty (60) days, then any institutional mortgagee who is a holder of a first mortgage lien on any such Unit(s) shall be afforded, upon request, timely written notice by the Association of any such failure to comply which may occur.”

3. That the second sentence of Section 12 of the Master Deed be amended to read as follows:

Casualty Loss

12. * * * 

In the event of substantial damage to or destruction of any Unit or any part of the general common elements, or if any such Unit or protion thereof, or the general common elements or any portion thereof, are made the subject matter of any condemnation or eminent domain or is otherwise sought to be acquired by a condemming authority, wherein the value of such damage, destruct-tion or acquisition is in excess of $10,000, then any institutional mortgagee who is a holder of a first mortgage lien on any Unit(s) which may be affected or its agent shall be afforded timely written notice by the Assocation of any of such events which may occur.”

4. That Paragraph 5 of Section 16 of the Master Deed be amended to read as follows:

Sale or Lease or Other Disposition of Units – Right of First Refusal of Association

16. * * * 

The foregoing provisions shall in no way be construed as affecting the rights of a permitted mortgagee and the pre-emptive rights hereinabove set forth shall remain subordinate to any such mortgage, and the provisions hereof shall not be applicable to pur-


chasers at foreclosure or other judicial sales of permitted mortgages, to transfers to permitted mort-gagees, to transfers to permitted first mortgagees who obtain title to the Unit by means of a deed in lieu of foreclosure or by any other non-judicial remedy, or to the Grantor. After such a sale or transfer of such a dwelling unit by a permitted mortgagee, the pre-emptive rights hereinabove set forth shall continue to apply.”

5. That Section 2(b) of Article II of the By-Laws be amended to add the following:

(b) * * * 

Further, the Board of Directors shall only enter into a professional management agreement with said manager, managing agent or independent contractor which provides for a maximum term of three (3) years and for termination by either party upon at least ninety (90) days’ prior written notice.”

6. That Section 2(bb)(3) of Article II of the By-Laws be amended to add the following:

(bb)(3) Acceleration of Assessment Installments Upon Default

* * *

In addition to the foregoing, any institutional mort-gagee who is the holder of a first mortgage lien upon any Unit shall not be responsible for any past-due and unpaid common expenses incurred prior to said mortgagee obtaining title to said Unit by deed in lieu of foreclosure or by any other non-judicial remedy; the responsibility for which shall be that of all other Unit owners.”

7. That Section 2(bb)(8) of Article II of the By-Laws be amended to read as follows:


“(8) Reserves

The Board shall not be obligated to expend all of the revenues collected in any accounting period, but may maintain various separate and distinct reserves for, among other things, emergencies, contingencies of bad weather, improvements, or uncollected accounts, and shall maintain various separate and distinct reserves for the future maintenance, replacement and repair of those common elements that must be replaced on a periodic basis. Notwithstanding anything to the con-trary herein contained, the Board, in its determination of the common expenses and the preparation of a budget, shall specifically designate and identify what portion of the common expenses to be assessed against the Unit owners is allocable to reserves for each separate item of repair and improvement of and to the Premises;

and upon receipt of the common expenses, the amount thus assessed and collected for any such separate item of repair and improvement shall either be deposited in a separate and identifiable interest-bearing savings account, or transferred to a separate and identifiable trust established pursuant to a written trust agree-ment between the Association, as Grantor, and the Treasurer and at least one other officer of the Association, as Trustees, the beneficiaries of which trust shall be the Unit owners from time to time.

The express purpose of each such separate and identi-fiable savings account or trust shall be to hold the separate and accumulated protions of the annual assess-ment against the Unit owners as a reserve in order to fund each separate item of repair and imporvement, or the commingling or common investment of any monies assessed and collected for more than one such specific item of repair and imporvement. Any reserves held pursuant to such trust agreements may be invested in either interest-bearing savings accounts or interest-bearing securities, either short or long term.”

8. That Section 1 of Article XV of the By-Laws be amended to read as follows:

1. Examination of Books: Each Unit owner and each mortgagee of a unit shall be permitted to examine the books and records of the Association and the books of accounts of the Board at a reasonable time on business days.”


Except as expressly or implicitly modified herein, all other provisions of said Master Deed and By-Laws and prior amendments thereto shall remain in full force and effect and in the case of any conflict therewith, the provisions thereof shall govern.

IN WITNESS WHEREOF, Grantor has caused its corporate seal to be hereto affixed and attested by its Secretary, in these presents to be signed by its President, the day and year first above written.



COUNTY OF Baltimore:

BE IT REMEMBERED that on this 28th day of April, before me, the subscriber, a notary public of the State of xxxxxx Maryland personally appeared T. Edgie Russell III who, being by me duly sworn, on his oath, deposes and makes proof to my satisfaction that he is the Secretary of BURNT TAVERN MANOR, INC.M the corporation executing the within Instrument; that David P. Scheffenacker is the