TABLE OF CONTENTS

RECITALS

DECLARATION

ARTICLE 1

1.1 Definitions

ARTICLE 2

2.1 Subdivision and Development by Declarant
2.2 Annexation
2.3 Conveyance and Acceptance of Common Areas

ARTICLE 3

3.1 General Restrictions
3.2 Exemption of Declarant
3.3 Assignment by Declarant/Transfer of Special Declarant Rights

ARTICLE 4

4.1 Organization
4.2 Membership and Voting
4.3 Board of Directors
4.4 Officers
4.5 Articles and Bylaws
4.6 Assessments, Fines and Compliance Expenditures
4.7 Determination of Budgets
4.8 Amount of Regular Assessments
4.9 Special Assessments
4.10 Other Matters Relating to Assessments
4.11 Lien for Assessments, Fines and Compliance Expenditures
4.12 Duties and Powers of the Association
4.13 Non-Liability of Officials
4.14 Indemnification
4.15 Non-Liability for Certain Chances and Amendments
4.16 Audit
4.17 Association Books and Records
4.18 Termination of Contracts and Leases of Declarant
4.19 Surplus Funds
4.20 Delegation to Master Association

ARTICLE 5

5.1 Members of Committee; Appointment and Removal
5.2 Design Guidelines
5.3 Review of Proposed Construction
5.4 Meetings of the Committee
5.5 No Waiver of Future Approvals
5.6 Compensation of Members
5.7 Inspection of work
5.8 Non-Liability of Committee Members
5.9 Variances
5.10 Easement for Encroachments
5.11 Maintenance Easement
5.12 Utilities
5.13 Rights of Declarant Incident to Construction
5.14 Easements Deemed Created

ARTICLE 6

6.1 Amendment
6.2 First Mortgagee Approval
6.3 Expenses

ARTICLE 7

7.1 Term
7.2 Notices
7.3 Severability
7.4 Condemnation
7.5 Governing Law
7.6 Exhibits
7.7 Development Rights and Special Declarant Rights

Exhibit A

Legal Description of the Property

Exhibit B

Legal Description of Additional Lands