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MECKLENBURG CO

::ODMAIPCDOCS\A'JL\4508200 008872.1)00'23

After Recording Retwn to: Charles E. Murphy. Jr., Esq.

Powell, Goldstein, Frazer & Mwpby LLP 191 Peachtree Street, N.E.

TRICfiONS

Adanta, OA 30303 (404) 572-6600

FOR REGISTRATI~~ JUDITH A. GIBSON REGISTER OF DEEDS

~8~\E~~R~ 1cg~~l~,P~c BOOK 12922 PRGE:262-291 FEE:$64 00

INSTRUMEN~ # 2001206071

~RT CAROLINA

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SECJ'Jo SECI'ION3 SECJ'JON4. SECJ'JON5. SECJ'JON6. SECJ'JON7.

ARTICLE III.

SECJ'JON 1. SECJ'JON2. SECJ'JON3. SECJ'JON4. SECJ'JON 5. SECJ'JON6. SECJ'JON7. SECJ'JON8.

ARTICLE IV.

SECJ'JON I. SECJ'JON2. SECJ'JON3. SECJ'JON4. SECJ'JON 5. SECJ'JON6. SECJ'JON7.

ARTICLEV.

SECJ'JON I. SECJ'JoN2. SECJ'JON3. SECJ'JON4. SECJ'JON5. SECJ'JON6. SECJ'JON7.

TABLE OF CONTENTS

Page

___ .............. _ .. - ..................... ......_ .......................... __. __ , ... .._. 3

!!~At S>;IB.JEIC11!DTO TillS DECLARATION ........................................................................... 3 SUBJECIBDTOTIIISDECLARA110N ••...•.•.••••••.••••••••••••••••••••.•.•••••••••• 4

CB0Fl'ROPI!RTY ••••••.••.•.•••••••••..•.•...•••••••••••••••••••••••••.•••.•••••••••••••••••..•••.•••.•.•.•• 4 OF111BPLAT ...•...•....•.•.•••••••......•.•.•.•.•.•................••....•.•..•.••..••.•••...•..•.•......••.....•••••••• 5

. .......................................................................................................................... 5 AI,J~"YJS.Hl ~~···-,-URDENS AND ENJOY TIIB BENBFITS OF1111S Dllc!.ARATION .......................... 5

M¥1o'N-1!1-• :)IIE~LOTs~o:::::::::::::::::::::::::::::::::::::::::::::::=::::::::::===:::::::::::::: CoMM01N"i!!~~ MEMBERS' EASI!MI!NI"S V. DAMAOEORD TRANSFER ORE MAINTENANCE OF

VEHICLES; TRAILERS, AsSIGNED P ARKINO SP

.................................................................................................................. 6 ONELBMBNTS •••••.............•••.••.....•.••••••....•.•..•••••••.•.••.••••.•••...•.•...... 6

0 Ll!MBNTS .................................................................................... 7 .. .................................................................................................. 7 ................................................................................................... 8

8 .................................................................................... 8 ;A OBILI!S ................................................................................. 8

.. .................................................................................................... 8

THE ASSOCIATION ..... - .... """"' ................ ......................... "'"'""'''"""'"' ... '' 8

i:=~~-~~.::::::::::::::::::::::·::: ... :::~:c0.:::::·· .. :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: CLASSESOFMBMBERSHIP; VOTIN Rio~: ........................................................................ 9 SUSPENSIONOFMBMBERSHIPRIG ................................................................ 10 MEETINGS OF TI1B MEMBERSHIP...................... ................ .. ........................................................ I 0 AssociATION ACTS THROUGH ITS E ~ .............................................................. 10 PROFESSIONAL MANAGEMENT .................... ······L/· .. ·· .......................................................... 10

ASSESSMENTS ............... "--"""'" ...... ~. ........... ..... """""'""''"""""10

AssESSMENTS; LIEN THEREFOR................................ ...... .. ...................................................... 10 PERSoNAL OBLIGATION OF MEMBERS...................... ..... ........... .. .... .. ..................................... II PuRPosES OF ASSESSMENTS ...................................... .......... ........ ....... .. ................................. II DETERMJNA TION OF ANNuAL AssESSMENT .. ................... .... ......... . ..................................... 12 SPECIAL AsSESSMENTS......................................................... ........ ...... ...... .. ........................... 12 LOTs OWNED BY DECLARANT............................................. ....... ......... ..... .. ....................... 13 EFPECT OP NON-PAYMENT OF AssESSMENTS; REMEDIES OF .... .. .................... 13

ARTICLE VU. ARCHITECTURAL CONTROL '"'"'"''''''''''""""''''''''''"''"'"'""""~-,,..C:'l-SECJ'JON I. SECJ'JON2. SECJ'JON3. SI!Ci10N4.

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LE VIII. RESTRICTIONS ................... - .. - ................ - .................... -···--·--········· ................ _ ... 16

SINGLE·FAMIL Y USE ....................................................................................................................... 16 PRoHIBITED Acnvrrms ............................•.•.•....•..........•......•.........•........•.•......•.•...........•.•....•.......• 16 NUISANCES .•...........................•....•.•..............•.••...................••..••....•....•.....•••...•...................•......•.•.. 16 TRAsH; ANIMALS ............•..................•...••••...................•.............•.•..•.••••.................•....................... 16

!GNS •.•..............................................•.•.•••...................••.•.•..•......•.•...••.•.•........................................ 17

~~~~~; AE~RIALS; SATELLITE DISHES ...................................................................................... 17

................................................................................................................................ 17 Sllfl'l'lel'!f. ONDrriONERS ......................................................................................................... 17

SECTION I. SECTION2. SECTION3. SECTION4.

ARTICLE X.

ARTICLE XI.

SECTION I. SECTION2.

SECTION3. SECTION4. SECTIONS. SECTION6. SECTION?.

UcruRES .............................................................................................................. 17 l!lN'11»'tms ..................................................................................................................... 11

,..-l:iNR~~~'{I·y EMBERS ......................................................................................................... 17 ONS ..................................................................................................................... 17

;Jii'I~~OF TOWNHOMFS, LOTS, BACKYARD AREAS AND LANDSCAPING

A(:n:• ~PA!p..01'\TOWNHOMES ................................................................................. 18 MAIN\:IlNA.i!lll{! YARD AREAS ........................................................................... 18

~~~;4 .. ::;;· .. : ....................................................................................................... 18 'u ......................................................................................................... 19

~-.. --................................. ----········'

FAILUREOFENFOR ....................................................................................................... 20 WAIVERS ................................................................................................................................ 20 DURATION ...................... ..... ......................... .. ........................................................................ 20 NOTICES ..................................................................................................................................... 20

~c!~:::~:::::::: .. :::::::~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::~!

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DECLARATION OF COVENANTS AND RESTRICTIONS

FOR MAGNOLIA PARK

MECKLENBURG COUNTY, NORTH CAROUNA

!ai:~IR1G'JQN OF COVENANTS AND RESTRICTIONS is made on this ...2Q. ~ day of~~~~~ w'th<>..Vear Two Thousand One by PUL1E HOME CORPORATION, a Michig r referred to as the "Declarant").

single family townhomes on the Magnolia

spaces, parks, green belts, parking persons who shall reside in the

defined); and

WHEREAS, it is intended that every owner of any f t e aid tomatically, and by reason of such ownership and this Declaration, become a me ... u~·_,.. aid association and be subject to its valid rules and regulations and the assessm f~R<lj:lllirl~9 made by such association;

NOW, THEREFORE, the Declarant does hereby submit the Elements" (as those terms are hereinafter defined) to the provisions of

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ARTICLE I.

DEFINITIONS

· cles of Incorpomtion of the Association, as

"Association" shall mean Mii~~ non-profit membership corporation.

e Association, Inc., a North Carolina

"Backyard Area" shall mean the Townhome constructed on such Lot.

on&t hich is located in the rear of the

"Bylaws" shall mean the Bylaws of the time to time.

e same may be amended from

"Common Elements" shall mean all portions &.{J~~IgiiOlii~ conveyed and tmnsferred to the Association pursuant to S Declaration and which does not include any Lot or real p pe y authority. Common Elements shall not include any Lot w · ch s Association through foreclosure of the lien in favor of the As~~i6 V of this Declaration.

"Declarant" shall mean Pulte Home Corporation, a Michig c1)1'1li~fi include any successor or assign of Pulte Home Corpomtion (other th ~i)c than five (5) Lots) who shall acquire the entire interest in Magnolia P owned by the immediate predecessor-in-title of such successor or assign.

was

"Declaration" shall mean this Declaration of Covenants and Restricti s, ~arne may be hereinafter amended in accordance with the terms and provisions of c X ~·

"Executive Board" shall mean the Board of Directors of the Association.

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irst Mortgage" shall mean a Mortgage conveying a first priority lien upon or security yLot.

' shall mean the United States Department of Housing and Urban Development, , i!l1he:ev t that said Department ~hall be abolished and its operations transferred to another · skm-of t · d tes government, such other division.

entity.

portion of Magnolia Park Property which has been subdivided for ~~~It and which is subjected to the terms, provisions, liens, charges,

"Jli""J'ny-~•1!1£tions of this Declaration applicable to Lots by the recording of

ARTICLE II.

LOTS

Section 1. Lots Hereby Subjected to this Declaration. The its successors and assigns, does hereby covenant that the following descri~~~~~~~ the same hereby is, subjected to this Declaration as Lots: Lot Nos. A through , Building 3, A through D, Inclusive of Building 5, and A through G, Inclusive shown and depicted on the Plat.

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The Declarant, for itself, its successors and assigns, hereby further covenants that the e scribed property shall hereafter be held, transferred, sold, conveyed, used, ]eased,

-ro=npie mortgaged or otherwise encumbered subject to all of the terms, provisions, liens, ar s ements, covenants and restrictions set forth in the Act and in this Declaration as

· able to e Lots, including, but not limited to, the lien provisions set forth in Article V ,,..,.-.,._e,-ofe'Ai) of e terms, provisions, liens, charges, easements, covenants and restrictions set

h ~s tio applicable to the Lots shall be a permanent charge thereon, and shall •u••"«~~~~ts.

· · al Lots Hereafter Sub· ected o th · s Declaration. The Declarant lj)61Jl'S~'QIIJ~to time, prior to December 31, 2007, subject additional portions ·k.J'fu!J~y to the Act and the terms, provisions, liens, charges, easements, '? ... ,_.._,.is Declaration applicable to Lots by:

Register of Deeds of Mecklenburg County, ng the additional Lots being thereby

From and after the subjectin uch additio to the Act and to this Declaration, such additional Lots shall thereafter be held, tr , conveyed, used, leasl".d, occupied, mortgaged or otherwise encumbered subject all , provisions,Iiens, charges, easements, covenants and restrictions of s D a Jicable to Lots, including, without limitation, all lien and assessment provi>ion set is Declaration; from and after the subjecting of such additional Lots to this Declat<illil:tw.jll"t5f"!!t& terms, provisions, liens, charges, easements, covenants and restrictions set forth in th' ti as applicable to Lots shall be a permanent charge thereon, and shall run with, such ad ts.

Any supplemental declaration which may be e:Xel:lifpd ded pursuant to the provisions of this Article n for the purpose of subjecting to the terms and provisions of this Declaration may set forth certain easem ns which will apply only to the Lots being subjected to this Declaration by such~~~:~:§lara: tion. Any such easements and restrictions which shall be set forth in any suppl ion shall thereafter be as binding on the Lots which are the subject of sue such easements and restrictions were set forth in their entirety in

Except as otherwise provided in the Act, no approval from anyi1A1!1111J:!rc Association, or from anyone else whomsoever, shall be required for the :qecla~f!P portion of the Magnolia Park Property to this Declaration as additional Lo

Section 3. No Effect on Balance of Property. Notwithstanding an c n~ed ·n this Declaration which may be constructed to the contrary, this Declaration does ot f te charge, lien, encumbrance, restriction, or limitation on any portion of the Magnoli Par

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y other than the Lots described in Section 1 of this Article II, unless and until any portion of the Magnolia Park Property is subjected to this Declaration as Lots or

-t;9f[un~Jfl Elements in the manner set forth, respectively, in Section 2 ofthis Article II or in '.ll"'IJ.-1'""'-.!Article m, and then, only from that time forward.

ereco ·n of the Plat. As Townhomes are constructed on the Lots, the aN.c'llr'llll·y tJ e, and from time to time, prior to December 31, 2007, rerecord the Plat

dat'Wi"rfies of Lots owned by the Declarant. Notwithstanding any provision of IJ!(\Dti~fuy s tutory or common law, which may provide to the contrary, from

:h"l«>rll<oording of the Plat by the Declarant, the boundary lines of all Lots ~(e'j~~tyand depicted on such rerecorded Plat. The right of the Declarant

~:gan ord the Plat shall tenninate at such time as the Declarant shall have ":)>"'"'/"_'{:wnhome shall have been constructed on each of the Lots.

standing the depiction of the boundaries of any Lot all s arating any Townhome from an adjoining

h on boundary line that runs between the

Section 6. All Lots Bear th Burden and E · Every person who is a record owner of a fee or undivided in acceptance of a deed or other conveyance thereto, and by acce=p""'-""' taking record title to such Lot, agree to all of the terms and prov of the Lots is subject to all the burdens, and enjoys all the benefi

this Declaration. an Lot does, by

~~ICJ)>~wnership, and by laration. Each

Section 7. Easements Over the Lots. The Lots shall be suuQj· i!Ctc;iii Declarant does hereby grant to the appropriate grantees thereof, the folholin,.n;,,,,.,m;;;ru..

(a) Each Lot shall be subject to all easements which are'dir.uri'i on the Plat as affecting and burdening such Lot, including but not limited to easements reserved for electric, cable, telephone and gas utilities;

"OOMAIPCDOCS\A TL\450821P.2 008872.110023 5

(b) Each Lot shall be subject to an easement for slope control purposes, -'",.,..-the right to grade and plant slopes and prevent the doing of any activity that might

e with slopes or which might create erosion or sliding problems or which might change, t retard drainage flow; and

Each Lot, including the Townhome located thereon, shall be subject to an Jluinlf11frv the authorized agents and representatives of the Association to go in

l!b..:~~I9Jh tlihi:OOn such Lot under the circumstances, and for the purposes described in ti .

/'..:RY~f~Pot)i"on of any Lot, noted on the Plat as any type of "Buffer",, shall constitute u er area. In no event shall any improvements, including but not limited to an.V:1·~-,.;; .,..~~e'-'s"<:urface or any structure of a permanent or temporary nature, be placed within pe1f9t'Jifi of su buffer area on any Lot.

Section 1. Co arant shall have the right to transfer and convey to the Association any olia Park Property. All portions of the Magnolia Park Property which all so transfer or convey to the Association shall thereafter constitute Common Ele nts aid right m exercised by the Declarant any time, and from time to time, prior to Dece 31, 2007

All portions of Magnolia Park Pro ~~11 transferred to the Association by the Declarant (a) shall be conveyed to the ~YJ · "ted warranty deed free of debt encumbrance, and (b) shall be conveyed tot Associ · bject to the rights and easements set forth in Sections 2 and 3 of this Article ill, 1 ve of ether the deed of conveyance shall make a specific reference to such rights and e e~

By joining in the execution of this Declarati u.._1t~h;eft§l's<Rmil~ does hereby covenant and agree to accept all conveyances of the Common Elements made to it pursuant to, and in accordance with, the terms and provisions of this S

Section 2. Membe 'Ri ts in the Common Ele the Townhome located thereto shall have a non-exclusive right use in and to the Common Elements and such right and easeme sh shall pass with, the title to the Lot(s) owned by such owner. Such ·'P·r-7 --

enjoyment and use are and shall be subject to the easements which this Article ill and to the right of the Association to promulgate reasonlohll.,.~,.v. regarding the use of the Common Elements, and the right of the Associ at" , 8j.-I'~IY Bylaws, to suspend the enjoyment rights of the owner of any Lot during ~f"'Pc;Ji('i! assessment which is due to the Association from such owner remains unpaid,~"~'¥"'' the Executive Board may consider appropriate for any infraction of its publish regulations. No such suspension, however, shall prohibit the owner of any Lot f Common Elements to the extent necessary for such owner to have access to and

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jldfll"ttl_sJtn, the Executive Board may permit other persons who are not residents of any Lots to use the on Elements upon such terms and conditions, and for the payment of such fees, as

termined by the Executive Board.

3. Easements Over the Common Elements. All Common Elements shall be s Declarant and the Association do hereby grant, the following easements:

a) easement across, in, under, over and through the Common Elements for the p ction, installation, repair, maintenance and use of all utility and draina li similar facilities as exist on the date of this Declaration;

ment in favor of Declarant for the exclusive use of such portions as may be reasonably desirable, convenient or incidental to the

provements on, and the sale of, any Lots and Townhomes es and business offices, storage areas, construction

exercisable by any and all persons whom the Declarant uding, without limitation, real estate sales agents and

'JY"'=n~the Lots, irrespective of whether such persons are ~:edle(nts shall exist notwithstanding any provision of this

Declaration which might c stru t conl!:iUY, but shall terminate at such time as the construction on the Lots of T~om h completed and all of the Lots shall have been conveyed to owners the who ot e acquired the Lots for the purpose of immediate resale of the same. S m shall and do exist without affecting the obligation of the owner of any Lot to pay or charges ·ng due during such period of time as portions of the Common Elements be used b thon persons pursuant to the exercise of the easements herein stated; and -' __./)

(c) An easement for the ont~ nance, repair, replacement and use of the area on which the air-conditioning co ressor s i any Townhome is located, such easement to be appurtenant to the Townhome such · -conditioning compressor.

(d) An easement for access in fa orQW ark Associates Limited Partnership as described in that certain Easement A m tween Pulte Home Corporation and HPW Park Associates Limited Partnershi t r 19, 2001, recorded in Book 12779, Page 729, Mecldenburg County Registry.

Section 4. Damage or Destruction. All damage rh&Hd'iplf on any Common Elements on account of the occurrence of any events. Such repairs shall be undertaken and completed as soon e casualty as is reasonably practicable. All repairs to any improvem ts Jatf~~ Elements shall be made in accordance with plans and specifications lfiat-Sh the same by the Executive Board of the Association.

As provided in Section 47F-3-113 of the Act, it shall be the duty o ~J!:~~~~ obtain and maintain in effect at all time;s a policy of casualty insurance on all m located on the Common Elements. The amount of such policy shall be in amo t than eighty percent (80%) of the replacement cost of the improvements to be ins deductibles in amount to be determined by the Executive Board. It shall also be

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Secti encumber, sell r such abandonme t, owners of no fewer eighty percent (80% until such time as the 3 of this Declaration.)

sfer or Encumbrance. In no event shall the Association abandon, , di y or indirectly, any portion of the Common Elements unless

c sale transfer shall be first approved in writing by: (a) the (ll!jgh1~(ers~t ( %) of the Lots, and (b) the holders of no fewer than

ges existing in regard to the Lots; and (c) ffiJD and VA, r;R~:&Q!'p shall terminate (as provided for in Article IV, Section

-'-"""""""....._""'1:"";;'"'-"'"""..,...=~-"'·~le,..s.. No boat, trailer, boat trailer, or repaired upon any part of ecutive Board, and then, only in oard as a condition to the issuance

Lot unless the same is parked on a ~!Jb~same is in operating condition and

ill--""".-ficable, perating sticker.

Section 8. . Assigned Parking Snaces. e av Board shall have the authority to designate any parking spaces located on the Co n E the exclusive use of the occupants of a particular Townhome. In the event that the ard shall exercise such authority, then no vehicles may be parked in any parking · ated for use by the residents of such Townhome, except for automobile parke by o such Townhome or parked with the permission of a resident of such Townhome. ven a more than two (2) such parking spaces be designated for the exclusive use of any o e Tf~W$01

ARTICLE IV.

THE ASSOCIATION

Section 1. The Association. Prior to the date this Declaration has ....... ..A;

record with the Clerk of the Register of Deeds of Mecklenburg County, North C

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t has caused the Association to be formed, and the Association does now exist, under its f Incorporation and Bylaws .

....-~ssociation is and shall be responsible for the ownership, management and operation .W.f\uo"r Elements, the enforcement of the covenants and restrictions set forth in this

the rformance of such other duties and services as the Executive Board shall rests of the members of the Association. The Association shall have

~~)~'illy provided in the Association by the provisions of Section 47F-3-102

~~~~~-~-· Every person who is, or who becomes, a record owner of a "dieJI-'fl:e~_> 1 any Lot is and shall be a member of the Association; provided,

however, tha an rson who holds such interest merely as security for the performance of an obligation s r of the Association. The transfer of ownership of a fee or undivided fee intere t hall tomatically transfer membership in the Association, and in no event shall su p e red from the ownership of such Lot.

m rs shall be all those persons holding an 1)'1l,SB(IIC:ia · n, as specified in Section 2 of this Article IV,

K;~~ rs. Until such time as the Class A members '7-r..._-ified, the Class A membership shall

) any proposal of merger, amrn•mni\saJ• to transfer or encumber any

nt o Article X of this Declamtion to :~n<XIij)~ am d the Articles of Incorporation or by

When entitled to vote, Class A members shall be e title n ( l) vote for each Lot 'cle IV. in which they hold an interest required for membership by Sectltol),""

(b) Class B. The Declarant shall be the sole ass membership shall be a full voting membership and, during its exis nc:e..-'l_n.,..c shall be entitled to vote on all matters and in all events. The Class R1'n"'m and cease to exist, and the Class B member shall be and become a CI may then hold any interest required for membership by Section 2 of this earliest to occur of: (i) the date on which the Declarant shall have convey thereof seventy-five percent (75%) of the Lots, or (ii) December 31, 2007, o iii.yv••r•~ date as the Declarant shall designate in a written notice delivered to the Assoc1 ti

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From and after the date at which the Class B membership automatically •--:M"'-s· and ceases to exist, such membership shall not be renewed or reinstated .

.r ·"'""".on 4. Suspension of Membership Rights. The membership rights of any \!l~~r of th Association, including the right to vote and to use the Common Elements (except

fo th~ to se the Common Elements for access to and from the Lot owned by such m m~m pe ded by the Executive Board pursuant to the authority granted in the B ch sion shall not affect such member's obligation to pay assessments

d · of such suspension and shall not affect the permanent charge and ·n favor of the Association.

ee s of the Membershi . All matters concerning the meetings of i ·on including the time at which and the manner in which notice of any

said meeting s · n to mbers, the quorum required for the transaction of business at any meeting, an Carolina Nonprofit Bylaws, or by law.

Section 6. action or inaction by, the s inaction or approval shall be stated in this Declaration, the

on~. matter, shall be as specified in the Act, in the North c ~s Declaration, or in the Articles of Incorporation or the

inaction or approval that the me~J~~;"'ni--1''

n may, but shall not be r entity to manage the affairs of ments for the management of

cls,,!QJ~~1€"Eiest, interests of the

ARTICLEV.

ASSESSMENTS

Section 1. Assessments; Lien Therefor. Each person oth r shall own any Lot, by acceptance of a deed or other conveyance theret such ownership, and by taking record title thereto, shall be deemed to co to the Association all assessments and charges which are levied by the As a · n a,.,-=~""' Lot(s) owned by such person in accordance with the terms and provisions of e)Jd.:JA!In Declaration.

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lliP.I'\IJliP.that was properly recorded prior to the docketing of the claim of J"!?)l!J"P\O uperior court;

ien of any First Mortgage or the lien of any prior Mortgage recorded .e4f)n!!o4.Mcec;ci(ik!~e urg County, North Carolina; or

(d) provided that neithe Lot.

.lt..c,,§'anv ·te.:,l\ndary purchase money Mortgage covering the Lot, successor grantee on the Mortgage is the seller of the

Section 2. fP~ers00!1~nl!~i!lJ~~~~;!] than the Declarant, by accep c(£ta member, irrespective ofwhetti 't shR"'""'·"" and by acceptance of ownership bt-'m.l')II'Lo!):SJ deemed to covenant and agree to p

hich shall be levied by the

~:ot.!!lalll;e with Section 5 hereof, special tablished and collected from

All such assessments, together with i~~s:!,t ~ile(lnlllv,! thereof, as hereinafter provided, shall be the personal obli of the Lot against which such assessments are levied at th and payable. The covenant to pay assessments herein sta

rson who is the owner sessments become due

ll11'1lfl>.a covenant running with the land.

Section 3. Purposes of Assessments. The assessmen le · pursuant to this Article V shall be used to pay the costs and expen s w incur in connection with the performance of its duties and responsib1 f this Declaration, the Articles of Incorporation and the Bylaws (such C~J~·'Y"'"' herein referred to as the "Annual Expenses"). Without limiting the gene the Annual Expenses shall include the costs of: repair and maintenance of~~~~e:!~~ and the maintenance of the Lots as provided in Section 2 of Article IX; pay nt governmental charges, taxes and assessments which shall be levied against all o m n \') Elements; payment of all costs and expenses incurred by the Association in conn ti n vfth i operations, including, without limitation, the payment of electricity charges for all

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on the Magnolia Park Property which does not serve a particular Lot; payment of the rW)riiiil'Qs for all policies of property and liability insurance maintained by the Association with

Common Elements; payment of the premiums for all fidelity bonds which shall be ...-.,_b=-.the Association; the maintenance of reserves for the repair and replacement of

mnrmfemen located on the Common Elements and for such other purposes as the Executive rrd~ de rmine, in all cases in such amounts as the Executive Board shall determine; the ni®t.oft!Jfl-feusio5li~ch management firms as the Executive Board shall employ; and

ent fees e provision of such professional services as the Executive Board shall be he Association, including legal, accounting and architectural

Sec on . nation of Annual Assessment. Prior to the commencement of each fiscal y o iation (said fiscal year being specified in the Bylaws), the Executive Board shall es · a otal ount of the Annual Expenses which are anticipated to be incurred by the · s~c fiscal year and shall determine the amount which will be deposited during su h seal i e funds maintained by the Association. The Executive Board sha th po do budget for the Association's expenditures and reserve fun dings based upon su · roviding for the total annual assessment to be levied against the members of n such fiscal year (the total assessment which shall be so determined and levied st al i'he em of the Association for any fiscal year is herein referred to as the "An ~s amounts so determined by the Executive Board shall be levied against a f th the Association other than the Declarant and all Lots not owned by the Dec! e unt of the Annual Assessment levied against each Lot shall be the same as the amoun evi against eve ther Lot. Each Lot not owned by the Declarant shall be liable for that sh of every A al As ssment which is so determined by the Executive Board. The Executive Board sh =en p of the budget so adopted by it, together with a written notice of the amou f t nn I sessment so determined for such fiscal year and the amount of such Annual sse wh · shall be levied against each Lot, to the owner of every Lot prior to the commen ent of ai year during which such Annual Assessment is to be paid. The amount of such ssess nt which shall be levied against each Lot shall be due and payable to the Associatio in.Biiffins Jments the Executive Board shall determine, and after notice of the same shall vdbaeh 1 • en to all of the members of the Association by the Executive Board, and shall be pa to OCI ·on when due without further notice.

Section 5. Soecial Assessments. If for any re n, m Iud1 assessments to the Association by the persons liable therefor, get Executive Board for any fiscal year shall prove to be inadequate o d a for such fiscal year, or if the Executive Board shall determine th it 1 m th..,.h....o.; Association to levy a special assessment to pay the costs of any ca talj' rtfprov repairs, the Executive Board shall have the authority to levy a speci Lots and the owners thereof (other than the Declarant) to raise such ne assessment levied by the Executive Board pursuant to the provisions of payable at such times and such installments as the Executive Board shall e. t not owned by the Declarant shall be liable for the payment of an equal share e ~ial assessment which shall be levied by the Association pursuant to the provisions of is ~n

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(Page 16 of 30)

Section 6. Lots Owned by Declarant. Notwithstanding any term or provision of this =--....,·on which may be construed to the contrary, no Lot owned by the Declarant shall be

_.-r••w,,.-.t t any assessment provided for in this Article V. Rather, all Lots owned by the Declarant ~~~e~x~e::\mpt from the payment of all assessments for so long as such Lots are owned by the I, t. uch time as any Lot which is owned by the Declarant shall be conveyed or

sfc;rr&r)w y by the Declarant, all liens and assessments provided for in this Article V shall o~ · e · ed against such Lot and the owner of such Lot shall immediately

me r or th ent of all such assessments. The amount of each Annual Assessment which sh y le with respect to any Lot shall be prorated according to the

,~,~~ year that such Lot was owned by the Declarant and by such

(a) ten (10) days aftertli installment of any ann"'"'-=r _.z:. __

entire amount of such as ss -:r-·=c--,

ent of Assessments· Remedies oft e Association.

ARTICLE VI.

In the event of the occurrence of any damage or destrucu n b re any one or more Townhomes, such damage or destruction shall be P'!l-......,!-", events. All repair, reconstruction or rebuilding of any Townhome sna~~ accordance with the plans and specifications for such damaged or des~~Q;~~~~ the occurrence of such damage, or in accordance with such differing plan are approved for such purpose by both the owner of the Townhome which · o so reconstructed or rebuilt, and by the Executive Board. The work of repairing, eco...A~~~ rebuilding any damaged or destroyed Townhome shall be completed as soon er e of such damage or destruction as is reasonably practicable at no cost or expense t Association. The owner of any Townhome which is to be repaired, reconstructed

''ODMAIPCDOCS\A11.14S0820\2

008872.00023 13

(Page 17 of 30)

.,______ -" pillfsllJnt to the provisions of this Article VI shall be responsible for the completion of such work •h""''•nner, and within the time requirements, set forth in this Article VI.

) upon any Lot, in I line which is depic location other than e

Section2.

ARTICLE VII.

ARCHITECTIJRAL CONTROL

(a) No bui di~nce, aJ e, , carport, playhouse, swimming pool, mail-box or other structure sh co ced ted or maintained upon any Lot, nor shall any exterior addition to, change ilin ithout limitation, any change in the type of roofing material or in the color of p · , stain or v ), or alteration of, the Townhome located on any Lot or any other struc re located o y be made until complete and final plans and specifications, setting forth the info=· on in r described, shall have been submitted to, and approved in writing by, t x tve o as to the harmony of the exterior design and general quality with the existin s f improvements located on the other Lots, and as to location in relation to surroun · ng struc s and topography.

submitted to the Executive commencement of any structure

~~~:$hcffom>;'l!ing information:

(i) A site plan showing the sha the proposed structure and its location on the Lot on which the same is proposed ti'jle1(ed>,and

(ii) Building plans of the proposed s exterior elevation drawing of the proposed structure;

(iii) In the case of any fence proposed to e t, a site plan showing the location of the proposed fence and a statement of W1111i•!JrC" Jlire 11>1Dfoved details as set forth in the Guide to Rules and Regulations (as that term is defined · p~(ijp hereinbelow) said proposed fence shall conform to; and

(iv) In the case of the alteration of any Townhome, a o~le 0 description of the alteration proposed to be made, including a sample of any vami he 'Pain proposed to be used.

''ODMAIPCDOCSIATL14S082GI2

0081172.00023 14

(Page 18 of 30)

(c) It shall be the duty of the Executive Board to maintain in effect a series of "".,.-,.-.lin s of standardized and approved designs for architectural control and for fences that may

.• _,...~...,u~n any Lot. Said standardized fence designs shall be so maintained by the 9"'?-"'tve B and will be outlined in the rules and regulations (the "Guide to Rules and

ul~") romulgated by_the Executive Bo.~d. The Executive ~oard may ~odify, change, d ~ t v detatls, and auopt additional approved details, at any time, and from

ti to ti the tive Board believes to be in the best interests of the owners of the Lots. lk!.~>Bklilrf\!rnish the owner of any Lot with a copy of the then existing

r~x:t owner's request.

In n ev~h an cture or fence be erected on any Lot unless the design of such fence shall c o to then existing approved details set out in the Guide to Rules and Regulations.

(d) e ia ·mfshall upon demand at any time, furnish to any member of the Association a c 'ficat i hr~ed by an officer of the Association, stating that any building, fence, wall, g , layhouse, swimming pool, mail-box or other structure erected upon such owner' ex rior addition to, change in, or alteration of any Townhome or others member on a Lot, is in compliance with the provisions of this Section 2 c certificate shall be conclusive as to whether the same is in such complian

(e) In the event alteration work is undertaken or performed upon any Lot without ap · ation havin en t made and approval obtained as provided in paragraph (a) of this Section 3, sai ~ns ·on r alteration work shall be deemed to be in violation of this covenant, and the on n ho Lot said construction or alteration work was undertaken or performed may rest re to its original condition, at his sole expense, the property upon which said cons ction or tion was undertaken or performed. Upon the failure or refusal of any person to res ·on required herein, the Executive Board, or their authorized agents or empl y~y. er fourteen (14) days' notice to such person, enter upon the property upon whic suQb._u,(aut orized construction or alteration work has been performed, and make such restoratio as the Board, in the exercise of its discretion, may deem necessary or advisable. The pers u h e Lot such restoration work shall have been so performed shall be personally lia e iation for all direct and indirect costs which the Association shall incur in the pe rm storation work, and the liability for such cost shall be secured by all the liens, an to the same means of collection, as the assessments provided for in Article V of thi · n. uch costs shall be paid to the Association by the person liable for the same at th Annual Assessment payment, as provided in Section 4 of Article earlier time, and in such installments, as the Executive Board shall -·v-··-

Section 3. Declarant Exemption. Notwithstanding anything s herein, nothing contained in this Article VII shall be construed as prohibitiiJwraJlirl the Declarant upon any Lot while such Lot is owned by the Declarant. Any w_;;g(i$a:UCiwn performed by the Declarant upon any Lot while such Lot is owned by the Dec exempt from the provisions of Section 3 of this Article Vll.

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r

(Page 19 of 30)

Section 4. Architectural Advisory Committee. The Executive Board shall be ·=-··-....--to appoint an architectural advisory committee to advise it and assist it in connection

rformance of its responsibilities under Section 2 of this Article Vll. The functions a be performed by any such architectural advisory committee shall include reviewing

olariVlmd s "fications which are submitted to the Executive Board in connection with p >~ c struct or alter improvements upon the Lots and to make recommendations to the E ec~o · pect to such plans and specifications.

ARTICLEVill.

RESTRICTIONS

Section 1. All of the Lots shall be restricted exclusively to single-family residential e "si gle-family" shall include one or more related or unrelated adults, as well as c~n of y ults. No Lot shall at any time be used for any commercial, business or p ssi otwithstanding the foregoing, however, nothing set forth in this Section h. · : (a) the Declarant from conducting such sales, leasing and promotional activities an t as said nt shall determine (including but not limited to, using any Townhome a model ho and es office); or (b) the owner of any Townhome from using a portion of a Townho = provided that such use does not create regular customer or client traffic to fro sue Lot d Townhome located thereon and no sign, logo, symbol or nameplate identi ·ng ch in sis displayed anywhere on such Lot.

sive activity shall be conducted d invitees, shall refrain from

arrassment, discomfort, ~_!>Y~:!llreN,.ot.

Section 3. Nuisances. No nuisance shall be pqimi~ Without limiting the generality of the foregoing, no exteri s other sound devices, except security devices used exclusivei'\><IEII"~e<:fu located, used or placed on any Lot, or any portion thereof.

Section 4. Trash: Animals. No portion of any Lot shal for rubbish, trash or garbage, nor shall any trash or garbage be penru Lot. Garbage containers shall be placed in a garage or screened on eac shall not be visible from the street or from any part of any other Lot.

ooODMAIPCDOCS\ATI.\45082012

008872.00023 16

st upon any Lot. whistles, bells, or

~luJposes, shall be

(Page 20 of 30)

'-----" ...r p!ll(pO§e, and provided that none of such pets are permitted to be a source of annoyance to any 'dent or residents of any other Lot.

ection 5. Signs. No sign of any kind or character shall be erected on any portion of ·-·..-r..«-:::-:t. layed to the public on any portion of any Lot, without the prior written consent of

J!Xj~ltl;W•e oard, except for customary name and address signs and one "for sale" sign J!ot-«lf'Silk:. The restriction herein stated shall include the prohibition of placement

.,-ft,!"""home in a location from which the same shall be visible from the l_,PI~~rnf~ any sign in or upon any motor vehicle.

n · Ae 'als· Satellite Dishes. No antennas, aerials, satellite dishes mg a diameter or diagonal measurement greater than one meter

t. So long as reception of an acceptable quality is not precluded, the antenna, aerial,,~t$1llfY:-dllsifhuolit' ther reception device of appropriate size shall be located only on that portion o · h least visible from public view and shielded so as to minimize any risk and to ens ated.

Section 7.

~~~~~~l!!iJ}prn!llenrs!;.· ~No air-conditioner shall be installed in any r-c ill · oner be installed on any Townh<Jme on any

. .amr-exte · wall of such Townhome.

Section 9. Tern c s. Subject e right of the Declarant to promote the sale of Lots, no structure of a tempo character, · cludi , without limitation, any trailer, tent, shack, garage or other building, shall be. penni ~n at any time, whether temporarily or permanently, except with the prior writ con t of e xecutive Board; provided, however, that temporary structures may be rec d I upon a Lot for use in connection with the repair or construction of structures n such .

Section 10. Subdivision of Lots. No Lot~r subdivided into any smaller

Lot. ~ Section 11. Enforcement by Members. In the ev t t e wner of any Lot, or any

person who is entitled to occupy any U:lt, shall fail to co ly 'th r ide by any restriction set forth in this Article VIII, then the owner of any other Lot ho · g y such failure of compliance or abidance shall have the right to proceed at Ia ui compel such owner or such occupant to comply therewith and abide thereby. Additi all , er of any Lot who, or whose lessee, shall fail to comply with or abide by any ch all be liable for any damages as may be suffered by any other owner of any Lot as COl.Jllll~ei

Section 12. Other Restrictions. In addition to the aforemen · Executive Board shall have the authority to adopt, publish, and enforce governing all Common Elements and all Lots, except those Lots owned b which are hereby subjected to this Declaration. The Declarant shall have the discretion to agree to be bound by any additional rules and regulations promul\,';;?.:'~;(::: Executive Board pursuant to this Section 12.

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(Page 21 of 30)

ARTICLE IX.

Maintenance and Repair of Townhomes. The owner of each Townhome ii''.l"""IO m · ntain and repair the entirety of his Townhome, including all walls and

·~I!!Jl!l•e. Such maintenance and repair work shall be performed at the sole ~Qk'~-0\llll{:r of such Townhome. All exteriors of all Townhomes shall be

'M~_Rh is satisfactory to the Executive Board including, but not limited ~~~-1'\'v walks leading to the entrances of such Townhomes. In no

e in the exterior appearance of any Townhome (including, without e application of any brick, stucco, paneling or other siding), unless

. ..£'h.>..,.rfi><ffoa;r>ppi\Mved in writing by the Executive Board, as provided for in Article

Section 2.

otherwise in paragraph (b) hereof, the Association llirt'i¢fffiij~~:rllp:s and the grounds of the portion of each Lot which is

sl<l:ill'll:onsist of normal grass mowing and any gt;~ru.JJIEI{• ndition that is satisfactory to the Executive

(c) The owner of each Lot shall o~d o keep and maintain any portion of the Backyard Area of such Lot which is enclo w~ ~ ce erected in accordance with Section 3 of this Article IX in a neat, sanitary and a active which is satisfactory to the Executive Board. Such maintenance shall include, wit ou mi · n, utting the grass, weeds and other vegetation, removing dead trees, shrubs and oth r p ts d runing and otherwise maintaining all plants, shrubbery, trees, flowers, bushes, foliage as may be planted in and on such Backyard Area.

Section 3. Fences. The owner of every Lot shall ha Backyard Area only of such Lot a fence to enclose all or any part suclrBa~vru!tl Lot. Any such fence that shall be so erected shall contain a gate pro · · Backyard Area which shall not contain any lock or locking device. In o of any Lot lock or otherwise secure said gate in such a way that it cannot access into said Backyard Area.

It shall be the duty of the Executive Board to maintain in effect a standln'ili,re the fence that may be so erected upon any Lot. In no event shall any fence

''OOMAIPCDOCSIATI..\4508200

DOS872.00023 18

(Page 22 of 30)

'---~ / pllt81Li!nt to the provisions of this Section 3 unless the design of such fence shall conform to the =--,·zed design which shall be so maintained in effect by the Executive Board.

n the event that the owner of any Lot shall elect to erect any such fence pursuant to the oo,vliri6J[ls;llrtl's Section 3, the owner of such Lot shall be responsible for the repair,

d replacement of such fence.

lure of Maintenance. In the event that the owner of any Lot shall fail to t, including the Townhome that is located on such Lot and the eluding any fence that may have been erected in such Backyard

~a~we!'".UJ~Ir<the erms and provisions of this Article VIII, the Executive Board e by it oc through its agents or employees, and after giving the

1ve (5) days notice and an opportunity to correct the unsatisfactory condition, to e er UiJjOn--tlleTITh and correct the unsatisfactory condition. The owner of the Lot upon which socii w rk~·s rformed by the Association (or its agents or employees) shall be personally ab to ss ati n for all direct and indirect costs as may be incurred by the Association in c nee n · rformance of such maintenance work, and the liability for such costs shall be y of the liens, and shall be subject to the same means of collection, as are the as ch es provided for in Article V of this Declaration. In addition, all such costs sh ssociation by such owner at the same time as the next due annual assessment Section 4 of Article V of this Declaration, or at such earlier time, and in e Executive Board shall determine.

The terms, provisions, covenants an is Declaration may be amended upon the approval of such amendment by (a) t rs o e Association who own in the aggregate, no-fewer than sixty-seven percent (67%) f~ts ot owned by the Declarant, (b) the Declarant, if the Declarant shall then own any t; ~c) and VA, if the ClassB membership has not terminated as provided in Artie IV, S this Declaration. The approval of any such amendment by the members of the s I be given by each such member either casting a vote in favor of such amendment t eel g f the members of the Association duly called for such purpose, or by such mem r · ing n approval of such amendment after the date on which such meeting was held, · and' a ything set forth to the contrary in the Articles of Incorporation or Bylaws. If any s e is required to be approved by the Declarant and/or HUD and VA, such approval by such Person executing a written approval of the same.

Any amendment to the terms, provisions, covenants or restricti n shall become effective only upon the recording with the Register of Dee Mecklenburg County, North Carolina, of an instrument certified by the in~;~~=~~ the Association setting forth such amendment and stating that the approval o Association which, under the provisions of this Article X, is required for such dme effective, has been given and obtained; and (c) containing the written approval of heiiJ.,.,),,,.,,,.,. and/or HUD and VA, if the same is required (as hereinafter provided).

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(Page 23 of 30)

e matters set forth in such instrument shall be presumed to be true and accurate and the ,A~mdll)bnt which is set forth in such instrument shall be effective, unless it shall be determined

::.~L:::':io:S.f competent jurisdiction that the matters certified to in such instrument are not true ~-~·curate.

Qh J'WIIOllrWI~ shall own any Lot, by acceptance of a deed or other conveyance qM~!e of such ownership, and by taking record title thereto, and each holder

~~~~~·~o;n of any Lot, by acceptance of such Mortgage, thereby agrees that ;i~ ts and restrictions of this Declaration may be amend<'.d as provided

ARTICLE XI.

~CELLANEOUS Section 1. orcement. In the event that the Association shall fail to

enforce the compliance of e visions of this Declaration by the owner of any Lot, then the owner of any oth sha we e rig!)t to file an action in a court of competent jurisdiction for an order fro su~urt ui · g at the Association enforce such compliance; provided, however, in no even iblil'i tl ut' oard, or any officer of the Association, or any of their agents, be personal) · ne on account of their failure to enforce any of the terms, provisions or restriction in this tion.

Section 2. Waivers. In no events one or more cases upon the strict perform provisions or agreements set forth in this of the future enforcement of any such term, acceptance of performance of anything requir&htlrtse:~ of a term, covenant, condition, provision or agreem breach, and no waiver by the Association of any t agreement shall be deemed to have been made unle authorized officer of the Association.

Section 3. Duration. This Declaration, and all '~'BS<lments, provisions, liens, charges, restrictions and covenants set forth herein, shiii&-!U!I,W 'nd the land (the Lots), shall be and shall remain in effect, and shall inure to the d 'enforceable by, the Association, and by any owner of any Lot, their respective )_""'=-:-r · s, heirs, successors and assigns, perpetually.

Section 4. Notices. Any notice required to be sent to any e · ation pursuant to any provision of this Declaration may be served by depositin uc o i the mails, postage prepaid, addressed to the member to whom it is intended, a e re hich such member shall have furnished to the Secretary of the Association in ace i:1 ~he Bylaws, or, in the absence of any such address having been so furnished to the o th Association, at the address of any Lot owned by such member. The date of servi e s date of mailing.

::OOMAIPCOOCS\ATL\450820\2

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(Page 24 of 30)

ection 5. Severability. Whenever possible, each provision of this Declaration shall ted in such manner as to be effective and valid, but if any provision of this Declaration

lication thereof to any person or to any property shall be prohibited or held invalid, ~~~~~·~o~~· n or invalidity shall not affect any other provision or the application of any

i~hi can be given effect without the invalid provision or application, and to this end p~on · laration are declared to be severable.

0~t!'m~em!!)£enntt. Enforcement of these covenants and restrictions shall be by uity against any person or persons or other entities violating or

nt or restriction, either to restrain violation or to recover "'-"'"-~../. to enforce any liens created by this Declaration.

Section -ji!!£i~§m~to:LDec~£]1!l!!Jm!t. In no event shall any person or other entity succeeding to th n s larant by operation of Jaw or through purchase of the Declarant's interest n a or rti Magnolia Park Property at foreclosure, sale under power or by deed in · eu liable for any act, omission or matter occurring, or arising from any act, o r occurring, prior to the date such successor 3ucceeded to the interest of the Dec!

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tionally left blank]

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IN WITNESS WHEREOF, Pulte Home Cmporatioo and Magnolia Park Townhome Association, Inc. have ...,..,..Ill·: s Declaration to be executed by their duly authorized officers on the day and year first above written.

PULTE HOME CORPORATION, a Michigan corporation

~~~ ( Thomas W. B;;6ce;At!iin-Fact

~'\CA~~~~~~~~.,r~ a Notary Public for said County and State, do hereby certify that Thomas W. Bruce, Attorne · -F t for te ome Corporation, a Michigan corporation, personally appeared before me this day and being by e sw , ys ~-executed the foregoing instrument for and in behalf of Pulte Home Corporation, a ic co a · ~~at his authority to execute and ackoowledge said instrument is contained in an inslrum duly xec a owledged and reconled in the Office of the RegisterofDeeds for Mecklenburg County, No · ook 8961, at Page 828, and that this instrument was executed under and by virtue of the authority giv granting him pnwer of attorney; that the said Thomas W. Bruce ackoowledge the due executio o trument for the purposes therein expressed for and in behalf of the said Pulte Home Corpmation, M~ ratio

WITNESS my hand and o

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[SIGNA TIJRE CONTINUED FROM PREVIOUS PAGE]

By: -=o:-a--'VI"· ;;;

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(Page 27 of 30)

EXIllBITA

Legal Description

and being in the City of Charlotte, Mecklenburg County, North Carolina and artie ly described as follows:

northwesterly comer of the aforesaid Pita Genera thence with the westerly and southerly property lin General Corporation property the following three (3) CUU£se><

(1) South 28-14-54 West 167.79 feet to a found #5 rebar, ) ~.t!YI'l West 145.25 feet to a found #5 rebar and (3) South 84-50-3 to the Point and Place of BEGINNING and containing 5. c , as shown on survey dated September 15, 2000 by ESP Associa s~~ which survey reference is hereby made for a more particular desc · ti 0{) the property.

HTPV 146878.1

(Page 28 of 30)

EGINNING at a found #5 rebar marking the northernmost comer of the David E. Withrow property (now or formerly) as described in deed recorded in k 3769 at Page 754 in the Mecklenburg County Public Registry, said

./1i5)re r also being located the following seven (7) courses and distances from ~fo · in the westerly margin of the right-of-way of Park Road

"-....fl1!¥1d"ing easterly comer of the Pita General Corporation property o r erl ) s described in deed recorded in Book 10669 at Page 684 ihe ec e \&'(;ounty Public Registry: (1) with the arc of a circular

cu e t e glttVaving a radius of 1,356.30 feet, a chord bearing and dis So 04-14-56 West 69.58 feet and an arc length of 69.59 feet to a poin th 10- 1-01 West 35.47 feet to a point, (3) South 10-00-47 West29.3 e o o nd~ in concrete, (4) South 10-34-57 West220.44 feet to a fo n gi ~WNorth 82-46-06 West 9.33 feet to a found #4 rebar, (6) 3 West 160.92 feet to a #4 rebar marking the northeasterly co er a: · d E. Withrow property (now orformerly) and (7) thence a ne 1 5 16-14 West 209.54 feet to the Beginning Point, and running e@:;fro e inning Point with the northerly and westerly margins o e 1d vid E. Withrow property (now or formerly) the followin (2) urses and distances: (1) South 55-18-37 West 185.50 feet to a fou ~ e inch pi 2) South 19-25-08 East 2.09 feet to a point; thence South 55-18~W t 1 .98 feet to a point in the northeasterly margin of the ri f-w of Ty ola Road; thence with the northeasterly margin of the 1igh f- a Ia Road the following three (3) courses and distances: (1) wi the ar circular curve to the right having a radius of 1,095.62 feet, a c or u· d distance of North 33-11-17 West 70.45 feet and an arc dis e 7 47 eet to a found concrete right-of-way monument disturbed, (2) - - est 196.78 feet to a found concrete right-of-way monument an o 7-41 West 87.35 feet to a found #5 rebar; thence with the as rly r rty line of the Mecklenburg County property (now or fo er c "bed in deed recorded in Book 10046 at Page 422 in the nty Public Registry the following two (2) courses and distan 16-36-17 West 296.97 feet to a point and (2) North 57-58-2 found #4 rebar in the northeasterly margin of the ri:~t.Of;>W Road; thence with the northeasterly margin of the right f-Road the following five (5) courses and distances: (1) No 32.63 feet to a found #4 rebar, (2) North 24-09-28 West 24.3 #4 rebar, (3) North 78-52-15 West 2.14 feet to a found #4 reb 28-03-38 West 108.10 feet to a found concrete right-of-way monu nt (5) with the arc of a circular curve to the left having a radius of 1 1

HTPL: 146878.1

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(Page 29 of 30)

feet, a chord bearing and distance of North 32-53-18 West 46.38 feet and an arc length of 46.38 feet to a point in the southerly property line of the Radice f Charlotte, Inc. property (now or formerly) as described in deed recorded

in Book 5602 at Page 540 in the Mecklenburg County Public Registry; thence with e southerly property line of the aforesaid Radice of Charlotte, Inc. ~pe (n or formerly) the following five (5) courses and distances: (1) '-1:fo1 -18-5 East325.07 feet to a found#3 rebar, (2) North 76-13-44 East

feet nd #3 rebar, (3) South 05-30-14 East 89.26 feet to a found ar, (4) S u 51-30-14 East 66.00 feet to a found #3 rebar and (5)

-2 t 5.76feettoapoint; thence North61-51-34 East29.07 westerly margin of the Pulte Home Corporation property

e corded in Book 11588 at Page 875 in the Mecklenburg Coun Re ist ; thence with the westerly margin of the Pulte Home Corporati p pe e f9UO\Ving eight (8) courses and distances: (1) South 08-25-12 es ~· ,~point, (2) South 03-13-55 West 25.00 feet to a point, (3) East 33.42 feet to a point, (4) South 04-36-23 West 108.15 fe to i t, South 85-23-37 East 168.53 feet to a point, (6) South 08-50C es . feet to a point, (7) South 82-06-17 East 187.51 feet to a · t~ (8) 2 52-00 West 18.46 feet to a point; thence North 55-3 - 1 feet to the Point and Place of BEGINNING, and con 3 acres an labeled as "PHASE TWO" on

TRACT IV:

All property contiguous with any of TRACTS I,

TRACTV:

All property contiguous to any contiguous property adde o of Covenants and Restrictions for Magnolia Park as part above.

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JUDITH A. GIBSON RTI~OF DEEDS , MECKLENBURG COUNTY

/C(:>ttfiHY & C URTS OFFICE BUILDING ~v.~S FOURTH STREET

RLOTTE NC 28202

Filed For Registration:

Book: 91

Document No.:

2001206071