A "Declaration of Covenants, Conditions and Restrictions" is referred to as "CC&Rs" or as a "Declaration." It is a recorded document containing a legal description of the development and a statement indicating whether it is a community apartment project, a condominium project, a planned development, or a stock cooperative. The declaration must additionally set forth the name of the association and the restrictions on the use or enjoyment of property. (Civ. Code § 4250)
Unlike bylaws, which address the governance of an association, CC&Rs describe property rights and obligations of the membership, such as (i) restrictions on the use of property, (ii) member and association maintenance duties, (iii) enforcement powers, (iv) lender protection provisions, (v) assessments obligations and lien/collection rights, (vi) duty to insure, and (vii) dispute resolution and attorneys' fees provisions.
"Covenants" are promises. In effect, a buyer in a common interest development promises to abide by the governing documents and pay their assessments. The buyer does not sign an agreement promising to abide by the documents; the promise is imposed on the buyer as an equitable servitude that runs with the property and is fully enforceable against the property owner. A positive covenant is a promise to do something, and a restrictive covenant is a promise not to do something.
"Conditions" in a contract or agreement can suspend, rescind, or modify an obligation. In other words, an event must occur before a party to a contract is required to perform its obligation. There are very few, if any, real conditions in a set of CC&Rs. Arguably, paying assessments is a condition of keeping one's house or condominium. Failure to pay them can result in the loss of ownership of the house or condo.
"Restrictions" are limitations imposed on owners' use of their property. For example, restrictive covenants often limit the number and types of animals an owner may keep, the alterations they may make to their property, the number of vehicles they may park, etc. The purpose of the restrictions is to maintain property values and order among neighbors. They also confer rights on owners. For example, restrictions on tree height protect owners' views. (Ekstrom v. Marquesa) Other rights conferred include rights of ingress and egress and easements.