Common use of ARCHITECTURAL CONTROL COMMITTEE Clause in Contracts

ARCHITECTURAL CONTROL COMMITTEE. The initial Architectural Control Committee is composed of ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇. The Architectural Control Committee shall serve until all lots in the subdivision are sold, but one member will be replaced by the Trustees when fifty percent (50%) of the lots are sold and another member will be replaced by the Trustees when Ninety Five percent (95%) of the lots are sold and the third initial Architectural Control Committee member will be replaced by the Trustees upon sale of all the lots. Thereafter, the Trustees shall determine the composition and necessity of the committee. In the event of the death or resignation of any member of the Committee, the remaining member or members shall have full authority to designate a successor or successors. A majority of the Committee may designate a representative of the Committee to act for it. Neither the members of the Committee nor its designated representative shall be entitled to any compensation for services performed pursuant to this covenant. At any time after ten (10) years from the date of this indenture, if this development is fully developed with improvements on all lots, the then record owners of a majority of the tracts shall have the power through a duly recorded instrument to change the membership of the Committee or to modify any of its powers or duties. The Committee approval or disapproval as required in these covenants shall be in writing. In the event the Committee or its designated representative fails to approve or disapprove within sixty (60) days after plans and specifications have been submitted to it (or in the event, if no suit to enjoin the construction has been commenced prior to the completion thereof), approval will not be required and the related covenants will be deemed to have been fully complied with. Members of the committee shall have the power and authority to grant variances when circumstance arise to merit them at their discretion, but in no event can variances be granted which violate current City of Chesterfield Ordinances.