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Doc 5486575
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Doc 5486575
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SECOND AMENDMENT TO THE DECLARATION OF <br /> SCHNEIDER ROAD BUSINESS CENTRE,A CONDOMINIUM <br /> This Second Amendment to the Declaration of Schneider Road Business Centre <br /> (the "Amendment") is made under and pursuant to the Condominium Ownership Act of <br /> the State of Wisconsin(the "Act") as codified in Chapter 703, Wisconsin Statutes. <br /> RECITALS: <br /> A. The legal description of the Condominium is Units 1 through 7 of the <br /> Schneider Road Business Centre, a Condominium, as established by the Declaration of <br /> Condominium recorded at the office of the Dane County Register of Deeds as Document <br /> No. 5157107 on June 5, 2016, as shown on the Schneider Road Business Centre <br /> Condominium Plat, as amended by the First Amendment to Declaration of Schneider <br /> Road Business Center recorded at the office of the Dane County Register of Deeds as <br /> Document No. 5456962 on November 29, 2018, and as shown on the First Addendum to <br /> the plat. The Condominium is located in the Town of Springfield, Dane County, <br /> Wisconsin. <br /> B. Schneider Road Business Centre, Inc., ("SRBC") is the owner of Unit 2, <br /> and desires to separate Unit 2 it into 4 separate Units. <br /> C. The Schneider Road Business Centre Association UA(the "Association') <br /> has provided the required written notice to all Unit Owners of the Condominium as to the <br /> separation of Unit 2 into four separate Units, and to all of their First Mortgagees. <br /> D. The Unit Owners and the First Mortgagees of the Units have unanimously <br /> consented to this Amendment. <br /> AMENDMENT: <br /> 1. Separation of Unit 2. Unit 2 is separated into four separate Units. The <br /> Units shall be identified as Unit 2, Unit 8, Unit 9 and Unit 10 as specifically shown on <br /> Addendum No. 2 to the Schneider Road Business Centre Condominium Plat. A copy of <br /> Addendum No. 2 is attached as Exhibit A to this Amendment. <br /> 2. Common Elements and Voting. <br /> a. Ownership/Percentage Interest. Section 4.2 of the Declaration, as <br /> amended by the First Amendment to the Declaration is amended and <br /> restated to provide: <br /> "Each Unit has an equal, undivided interest in the Common Elements <br /> determined by taking the number one and dividing it by the total number <br /> of Units. At the time of the recording of this Second Amendment, each Unit <br /> has a present interest of ten percent (100%) in the Common Elements. <br /> Each Unit in the Condominium is allocated one-tenth of the liability for <br /> common expenses and the rights to one-tenth of common surpluses. " <br />
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