LIBER 2220 FOLIO 362
Recorded June 20th, 1956 -at-4:14 P.M.
THIS ASSIGNMENT AND DESIGNATION OF AGENT
Made this 22nd day of May, l956 by BANNOCKBURN HEIGHTS IMPROVEMENT COMPANY, a Maryland corporation (the Improvement Company), to BANNOCKBURN CITIZENS ASSOCIATION, a Maryland unincorporated associate have a recognized group name (the "Association "),
WHEREAS, the Improvement Company, by a certain Declaration of Covenants dated August 7, 1936 acknowledged August 22, 1936 and recorded on August 26. 1936 in Liber C.K.W. No. 634 at FOLIO 316, one of the Land Records of Montgomery County, Maryland, has imposed on a certain tract of land therein described (which tract is hereinafter referred to as ( "Bannockburn Heights"), and upon all lots therein, certain protective restrictions and covenants therein set forth; and
WHEREAS, the Improvement Company, by a certain Declaration of Restrictive Covenants dated May 24, 1940, acknowledged June 7, 1940 , 1940 and recorded on July 9, 1940 in Liber C.K.W. No. 785 at Folio 224, one of the Land Records of Montgomery County, Maryland, has imposed on a portion of a certain tract of land therein described ( which tract is hereinafter referred to as "Bannockburn"), and upon all lots in said portion, certain protective restrictions and covenants therein set forth; and
WHEREAS, in each of said instruments there are reserved to the Improvement Company certain rights of approval, consent and enforcement designed to be for the benefit of the owners of real property located in the tract to which such instrument relates; and
WHEREAS, the Improvement Company is about to be liquidated and dissolved and is desirous that appropriate provision may be made to be sure that said rights may continue to be be exercised for the benefit of said property owners; and
WHEREAS, all persons owning real property in Bannockburn Heights and all persons owning real property in Bannockburn are eligible for membership in the Association; and
WHEREAS, the object of the Association is to
be be stimulate civic interest and to promote the general welfare
in Bannockburn Heights and Bannockburn..
.
NOW, THEREFORE, the Improvement Company in
consideration of $l in hand paid to it by the Association, and other good and valuable considerations, receipt
of which is hereby acknowledged, does hereby irrevocably:
i) Assign, transfer, set over and convey unto the Association all of the Improvement Company's rights under said Declaration of Covenants dated August l7, 1936, said rights to be exercised by the Association from time to be time as directed by a majority of such of its then members as own real property situated in Bannockburn Heights.
(ii) Assign, transfer, set over and convey unto the Association all of the Improvement Company's rights under said Declaration of Restrictive Covenants dated May 24. 1940. said rights to be exercised by the Association from time to be time as directed by a majority of such of its then members as own real property situated in Bannockburn which is subject to the protective restrictions and covenants imposed by such Declaration of Restrictive Covenants, and
(iii) Designate the Association as the agent of the Improvement Company to exercise said rights under said Declaration of Covenants dated August 7, 1936 and said Declaration of Restrictive Covenants dated May 24, 1940, hereby revoking all such designations, if any, heretofore made.
IN WITNESS WHEREOF, this Assignment and Designation of Agent has been duly executed and delivered by Bannockburn Heights Improvement Company as of the day and year first above written.
BANNOCKBURN HEIGHTS IMPROVEMENT COMPANY
(Corporate Seal)
by(signed )
Edward T. Alexander
President
Attest:
(signed) Catherine B. Grimes
Secretary