LEG00267

• Bill Number: SB05-246
• Year: 2005
• Title: Concerning environmental covenants, and, in connection therewith, establishing conformity with the "Uniform Environmental Covenants Act" with respect to the role of holders of enforcement rights, the
• Legislation - Doc Type: Other CWCB Related Bills - Killed

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INEXISTENCE AT THE TIME AN ENVIRONMENTAL COVENANT IS CREATED OR
AMENDED:
(a) AN INTEREST THAT HAS PRIORITY UNDER OTHER LAW IS NOT
AFFECTED BY AN ENVIRONMENTAL COVENANT UNLESS THE PERSON THAT

5 OWNS THE INTEREST SUBORDINATES THAT INTEREST TO THE COVENANT;
6 (b) THIS SUBPART 2 DOES NOT REQUIRE A PERSON THAT OWNS A
7 PRIOR INTEREST TO SUBORDINATE THAT INTEREST TO AN ENVIRONMENTAL
8 COVENANT OR TO AGREE TO BE BOUND BY THE COVENANT;
9 (c) . A SUBORDINATION AGREEMENT MAY BE CONTAINED IN AN
10 ENVIRONMENTAL COVENANT COVERING REAL PROPERTY OR IN A SEPARATE

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RECORD. lFTHE ENVIRONMENTAL COVENANT COVERS COMMONL YOWNED
PROPERTY IN A COMMON INTEREST COMMUNITY, THE RECORD MAY BE
SIGNED BY ANY PERSON AUTHORIZED BY THE GOVERNING BOARD OF THE
OWNERS' ASSOCIATION.
(d) AN AGREEMENT BY A PERSON TO SUBORDINATE A PRIOR
INTEREST TO AN ENVIRONMENTAL COVENANT AFFECTS THE PRIORITY OF
THAT PERSON'S INTEREST BUT DOES NOT BY ITSELF IMPOSE ANY .
AFFIRMATIVE OBLIGATION ON THE PERSON WITH RESPECT TO THE
ENVIRONMENTAL COVENANT.
(8) AN ENVIRONMENTAL COVENANT MAY NOT BE EXTINGUISHED,
LIMITED, OR IMPAIRED BY APPLICATION OF SECTION 38-34-103 OR
38-41-119, C.R.S.
SECTION 4. 25-15-319, Colorado Revised Statutes, is amended
to read:
25-15-319. Contents of environmental covenants. (I) An
environmental covenant shall: it.dud" plO~isi6ns I e-JS1l1 dinJS,
(a) STATE THAT THE INSTRUMENT IS AN ENVIRONMENTAL

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SB05-246