Declaration of Covenants, Conditions, and Restrictions (Commercial Real Estate Development) (Long Form)

by Practical Law Real Estate

A Standard Document providing a form of a declaration of covenants, conditions, and restrictions (CC&Rs) for a developer of a multi-use business and retail development. This declaration establishes a general plan for the development and use of real property, seeking to protect the value and desirability of the community. It details the creation of a property owners' association responsible for managing common areas, enforcing covenants, and levying assessments to fund shared expenses. This Standard Document also outlines the establishment and function of a Development Review Board (DRB), which is tasked with reviewing and approving plans for all construction and property improvements to ensure compliance with development guidelines. Key provisions address land use restrictions, setbacks, signage, landscaping, parking, and environmental compliance. It defines the framework for governance, including membership classes and voting rights within the association, and clarifies the rights and obligations of the developer, the association, and individual property owners. This Standard Document has integrated notes with important explanations and drafting and negotiating tips for purchasers and developers. While declarations of CC&Rs are generally governed by state law, this jurisdictionally neutral template is useful and relevant in every state.