RESTRICTIONS, RESERVATIONS, CONDITIONS AND PROTECTIVE COVENANTS AFFECTING TITLE TO CLEARCREST ESTATES SUBDIVISION

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1 RESTRICTIONS, RESERVATIONS, CONDITIONS AND PROTECTIVE COVENANTS AFFECTING TITLE TO CLEARCREST ESTATES SUBDIVISION THIS INDENTURE WITNESSETH, that Clearcrest LLC, an Indiana limited liability company (hereinafter sometimes referred to as the "present owner" and/or "subdivider"), being the owner of all of the real estate included within Clearcrest Estates, a subdivision in Vanderburgh County, Indiana, the plat of which parcelization was recorded, 2015, in Plat Record _, page, in the office of the Recorder of Vanderburgh County, Indiana, (hereinafter referred to as the "Subdivision") does hereby make and establish the following restrictions, reservations, conditions, and protective covenants for the use and occupancy of the lots and lands comprising said Subdivision, which restrictions, reservations, and protective covenants shall run with the title to said real estate and shall be binding upon all owners of the lots and lands included within the Subdivision, in the manner and to the extent hereinafter set forth, to-wit: 1. LAND USE. All lots in this Subdivision, shall be known, described and used only for single-family residential purposes or agricultural purposes. The lots or lot shall mean parcels or parcel as used herein and on the plat of the Subdivision. Owners of residences on lots in the Subdivision shall have the right to maintain a home office within their residence for whatever business or activity they may care to conduct within said office which is clearly incidental and secondary to the use of the residence for dwelling purposes and does not change the character thereof; further, provided, however, no business activity may be conducted within such home office which would cause delivery of any merchandise for resale in the Subdivision or cause any type of customer traffic or service traffic to the premises located in this Subdivision. Further, in no event shall a barber shop, hair styling salon, beauty parlor, tea room, fortune telling parlor, licensed child care center or other licensed or regulated babysitter service, animal hospital, or any form or animal care of treatment, such as dog trimming, be construed as a permitted home occupation in this Subdivision. No sign shall be displayed on the exterior of any house or other building or in any yard to indicate the presence of any business activity on any lot in this Subdivision. Notwithstanding the foregoing, all lots may be used for model homes and/or temporary construction buildings or trailers for the subdivider. 2. TYPE OF PERMITTED STRUCTURES. Except as hereinafter provided, no structure shall be erected, altered, placed or permitted to remain on any lot in the Subdivision other than one (1) single family dwelling not to exceed two and one-half (2-1/2) stories in height, which structure shall: (a) (b) contain a total living area of not less than 3,000 square feet for a one-story dwelling (exclusive of open porches, basements and garages); contain a total living area of not less than 3,500 square feet for a one and one-half story or two story dwelling (exclusive of open porches, basements and garages); 1

2 (c) (d) contain a total living area of not less than 4,000 square feet for a two and one-half story dwelling (exclusive of open porches, basements, and garages); and contain a roof pitch of no less than a 6\12 pitch, to be used on the front elevations of the home. All dwellings shall be constructed of brick, stone, or stucco style veneer around not less than 85% of the structure's front (facing the street) perimeter, to a height not less than the top of the windows and doors on the first level of the home. The balance of the veneer of the dwelling shall be constructed in wood, vinyl or aluminum siding. The Building Committee will approve the location and amount of each veneer to be used on all dwellings. All fireplace flues, whether they be masonry or metal, are to be wrapped with an approved exterior veneer, such as brick, stone, wood, aluminum siding, vinyl siding or stucco style veneer. No trailer, tent, shack, barn, prefabricated storage shed or other outbuilding shall be placed on any lot in the Subdivision or used at any time as a residence, either temporarily or permanently, and no structure shall be moved onto any lot. Unless already located on a lot, all structures in the Subdivision shall be newly erected thereon. Unless already located on a lot, any outbuilding may only be constructed upon a lot in this Subdivision upon which a dwelling is located if the building plans, specifications, and plot plan have been approved in writing by the Building Committee pursuant to the provisions set forth in Paragraph 3 below. 3. BUILDING COMMITTEE. A Building Committee is hereby established, which Committee shall consist of one (1) members which shall be Aaron Kendall and/or such other representatives of the present owner and subdivider, Clearcrest LLC. The subdivider may at any time in writing relinquish its right to designate the other members of said Committee and in the event of such a relinquishment by the subdivider, or at such time as the subdivider no longer owns any real estate in the Subdivision, then the remaining members of said Committee, if any, or the Board of Directors of the Association (as hereinafter defined), if no Committee members exist, shall have the right to designate new members to fill the vacancy or vacancies resulting from death or resignation of any member, but any new member so designated, must be an owner of a lot in the Subdivision. No dwelling, outbuilding, satellite dish, television or radio antenna, or other structure shall be commenced, erected, or placed on any lot, nor shall any addition to or change, or alteration therein be made, until the building plans, specifications and plat plan showing the nature, kind, shape, height, materials, floor plans, location, and approximate cost of such structure, and the grading plan of the lot to be built upon, shall have been submitted to and approved in writing by the Building Committee. Said Committee shall have the right to refuse to approve any such plans or specifications or grading plan which are not suitable or desirable in its opinion for aesthetic or other reasons, and in so passing upon such plans, specifications and grading plan shall have the right to take into consideration the materials to be used for the external finish of the proposed structures, the ultimate aesthetic appearance of the Subdivision, the harmony of the external design of the proposed structure with existing structures and other 2

3 planned structures in the proposed topographical appearance of the land and structure, and the fixed ground elevation of the proposed structure. In the event said Committee fails to approve or disapprove said plans and specifications within sixty (60) days after said plans and specifications have been submitted to it, or in any event, if no suit to enjoin the erection of such structure or the making of such alterations has been commenced prior to the completion thereof, such approval will not be required and this covenant will be deemed to have been fully complied with as to such structure or such alterations. No builder or general contractor shall be allowed to build or otherwise construct upon a lot in this Subdivision, unless such other builder or general contractor is approved in writing by the Building Committee. Said Committee shall have the right, in its absolute discretion, to request additional information on the proposed builder or general contractor, credit references, references for prior residences or other construction projects, and other reasonably pertinent information concerning said proposed builder or general contractor, and to refuse to approve any proposed builder or general contractor that does not meet with the standards of the Committee, in its sole discretion. The powers and duties of said Building Committee shall cease on and after twenty (20) years from the date of recording of these covenants and restrictions. Thereafter, the approval described in this covenant shall not be required, unless, prior to said date and effective thereon, a written instrument shall be executed by the then record owners of the majority of the lots in this Subdivision, and duly recorded, appointing a representative or representatives who shall thereafter exercise the same powers previously exercised by said Committee. 4. CONSTRUCTION OF DWELLING. A residence shall be contructed on each lot within three (3) after the date of the conveyance of the lot by the subdivider to the purchaser. Upon commencement of the construction of any dwelling, the owner shall diligently pursue completion and said dwelling shall be completed within one (1) year from and after the date of commencement of such construction. Provided, however, notwithstanding the foregoing, the Building Committee may extend the time for commencement of the construction and/or completion of construction if, in its sole opinion, construction cannot be commenced and/or completed within said applicable respective time period due to causes beyond the reasonable control of the owner. Each lot owner shall be responsible to see that its builder or contractor confines all building materials, equipment, and excavated soil within the boundaries of the lot, and exercises good erosion control practices during construction of the dwelling or at any other time of ownership. Said builder, contractor and/or the owner of said lot shall finish grade, seed and mulch the lot as soon as possible. Straw bale dams for runoff control during construction or ownership shall be used if necessary and all streets shall be kept free of transported soil. The lot owner and/or his builder or contractor shall be liable for any damages resulting from the failure to comply with the terms and provisions of this paragraph. Upon completion of construction a good turf shall be established and thereafter the dwelling, permitted structures, and yard shall be maintained in good condition and state of repair. 3

4 All lots in this Subdivision are subject to the Indiana Department of Environmental Management's General Permit Rule No. 327 I.A.C This regulation, in general, provides that no sediment (dirt) may be transported off any lot to adjacent property, roadway or waterway by means of erosion, carried by vehicle tires, or any other such means. Before any construction of any kind may begin, the builder or lot owner is responsible for installing a temporary gravel construction entrance/exit pad of 2-3 inch washed stone (INDOT CA No. 2) over a stable foundation. The pad is to be 6 inches in thickness and a minimum of 12 feet wide and 50 feet in length or the distance to the foundation. 5. OPTION TO PURCHASE LOT AND RIGHT OF FIRST REFUSAL. In the event the purchaser of a lot fails to commence construction of a residence on the lot within three (3) years after the date of the conveyance of the lot to the purchaser by the subdivider and complete the construction within one (1) year after commencement of the construction as provided for herein, then the subdivider, or its successor and assign, shall have the right and option to repurchase the respective lot from the purchaser/owner, or its respective successor and assign, free and clear of all liens encumbrances, for a re-purchase price equal to ninety percent (90%) of the original lot purchase price to the original purchaser from the subdivider. This right and option shall continue until completion of the construction of the residence thereon. The subdivider may exercise the right and option to purchase the lot upon thirty (30) days prior written notice to the owner thereof and the closing shall occur within or at the conclusion of the said thirty (30) day period. If, during the four (4) year period after the conveyance of the lot to the purchaser by the subdiver, the lot owner, or its successor and assign, receives a bona fide offer to purchase the lot (an "Offer") and lot owner desires to sell the lot pursuant to such Offer, the lot owner shall provide the subdivider with notice thereof, together with a copy of such Offer. Purchaser shall have the right, exercisable within thirty (30) days of the giving of said notice by owner, to elect, by delivery of notice of such election to owner, to purchase the lot on the same terms as those set forth in such Offer; provided, however, in the absence of the completion of a residence on the lot during the four (4) year period (as evidenced by a certificate of occupancy related to such residence), notwithstanding the price in the Offer, in the event the owner, its successor and assign, desires to sell the lot and accept the Offer, the subdivider shall have the right to purchase the respective lot for ninety percent (90%) of the original purchase price paid to the subdivider for such lot. If subdivider does not timely elect to purchase the lot, the owner shall have the right to sell the lot pursuant to the Offer. If, at any time, the material terms, covenants, conditions or price set forth in the Offer are changed or the Offer has not closed and the Offer remains available for more than six (6) months, such material change or passage of time, respectively, shall constitute a new Offer, which shall be sent to Purchaser thereby renewing the rights of subdivider and the obligations of owner specified in this Section BUILDING SITES. No platted lot in this Subdivision shall be subdivided and only one single-family dwelling may be erected or placed on a platted lot in the Subdivision; provided, however, all or a portion of an abutting platted lot may be used in conjunction with a full platted lot as one building site upon which one single-family dwelling may be located. 4

5 7. BUILDING LINES. No residence, dwelling, or other building structure shall be constructed nearer to the front property line than the set-back or building line or lines shown on the recorded plat of the Subdivision. No residence, dwelling, or other building structure shall be constructed nearer to any side lot line than forty (40) feet; provided, however, if more than one platted lot is being used for a building site, no residence, dwelling, or other building structure shall be located nearer than forty (40) feet to any side line of said building site. 8. ENTRANCE SIGNAGE. Lots 4 and 5 shall allow for Subdivision identification signage to be constructed by the subdivider within twelve (12) feet of the lot lines and at the respective corners of said lots which abut Briar Lane. Unless specifically addressed in an agreement between the Association with the respective lot owner or in other documentation approved by the Association, the maintenance of landscaping around these entrance monuments shall be the responsibility of the respective lot owner where such signs are located. The maintenance of the identification signage shall be the responsibility of the Association. 9. EASEMENTS. The strips of real estate of the width shown on the recorded plat of the Subdivision and marked "EASEMENT" or "EASM'T." are hereby reserved for the use of any and all public utilities and for the installation of water, sewer and gas mains, above or underground electric facilities and surface water drainage, subject at all times to the proper authorities. No structures or other improvements (except driveways), or planting or other materials shall be erected or permitted to remain within said easements which may damage or interfere with the installation and maintenance of utilities. Except as maintained by the Association pursuant to Paragraph 21 hereof, the easement area of each lot shall be maintained continuously by the owner of said lot so as not to change the intended direction of flow of surface water within said easement as said direction of flow is set forth in a site plan for the Subdivision filed with the Area Plan Commission of Evansville and Vanderburgh County. 10. FENCES AND SHRUBS. No fence, wall or hedge shall be placed or permitted to remain on any lot unless the design, type and location thereof is approved in writing by the Building Committee. Only a decorative fence may be maintained in front of the building setback line as shown on the recorded plat, but no part of said decorative fence shall be located within the street right-of-way. The design, type and location of any such decorative fence must be approved in writing by the Building Committee. All fencing erected on any lot shall be maintained in good condition and state of repair. No trees or shrubs shall be placed or maintained in a manner which would create a safety hazard or in a manner which would distract from the appearance of the Subdivision. 11. DRIVEWAYS. All driveways shall be paved from the paved portion of the street to the garage, and shall be paved with either concrete or asphalt, or such other material as is approved in writing by the Building Committee. 12. WASTE DISPOSAL. All lots shall be free of garbage, sewage, ashes, rubbish, bottles, cans, waste matter and other refuse. Trash, garbage or other waste or debris accumulated by the owner of any lot shall be kept in sanitary containers out of sight and shall be disposed of 5

6 in a timely manner. All containers or incinerators or other equipment for the storage or disposal of such material shall be kept in a clean and sanitary condition and shall be kept in such manner as to avoid an unsightly appearance within the Subdivision. 13. MOWING AND POND APPEARANCE. All lots shall be kept clean and free of weeds and other objectionable matter at all times. Each owner shall cut the grass located in the rectangular boundaries of its property lines without regard to the respective sixty (60) foot portion of Lots 6, 7, 8, 9, 10, 11, 12, 13, 14, and 15 that satisfies the required public access and shall cut the grass and mow the area shown on Exhibit A attached hereto. All ponds and lakes on any lot shall be maintained by the lot owner and proper algae control at the pond and lake and proper safety signage and accessories shall be maintained. No motorized boats are permitted in any lake or pond except electric motors. If a lot, pond, or lake is not kept and maintained in an orderly manner free of weeds and algae, the Association shall have the right to cut the grass and maintain said lot in a proper manner free of weeds and treat the algae, and the owner of said lot shall be required to reimburse the Association for said cutting, treatment, and maintenance within ten (10) days from the date said lot owner is presented with a statement therefor, which statement shall be payable with interest at the rate of eighteen percent (18%) per annum and with attorneys' fees. 14. DRAINAGE OF WATER. Water from downspouts or other surface water drainage systems shall not be drained into or connected to the sanitary sewer system serving the lots in the Subdivision. 15. MAILBOX. To ensure consistency, the subdivider and/or Building Committee shall determine and/or approve the type and style of mailbox and post to be used within the Subdivision and at the location approved by or designated by the Building Committee. 16. PARKING OF VEHICLES. No vehicle shall be regularly or habitually parked on a street in this Subdivision and every owner or occupant in this Subdivision shall provide adequate facilities for enclosed garage parking for all vehicles ordinarily kept on the premises. No van, camper, boat, motorhome, recreational vehicle, truck or other similar vehicle shall be regularly or habitually parked on any lot or premises in the Subdivision unless parked in an enclosed garage, or in an inconspicuous place on the lot, totally concealed from view from the street. 17. FUEL TANKS. No oil, gas, or other fuel tank shall be allowed on any lot in this Subdivision or placed in the basement or garage of any dwelling unless approved in writing by the Building Committee and constructed and maintained in compliance with all governmental rules and regulations. 18. SIGNS. No signs shall be permitted in this Subdivision, except that an owner desiring to sell a vacant lot or a lot with improvements thereon shall be permitted to place a "For Sale" sign on said property. 6

7 19. ANIMALS. No animals, livestock, or male fowl of any kind shall be raised, bred or kept upon any lot, except that horses, cows, goats, sheep, hens, dogs, cats or other household pets may be kept provided that they are not kept, bred, or maintained for commercial purposes. 20. NUISANCES. No noxious or offensive activities shall be carried on upon any lot in this Subdivision nor shall anything be done thereon which may be or may become an annoyance or nuisance to the residents of this Subdivision. No lot shall be used for the storage of any property or thing that will cause such lot to appear in an unclean or untidy condition or that will be obnoxious to the eye, nor shall any substance, thing or material be kept upon any lot that will emit fire or obnoxious odors, or that will cause any noise which might disturb the peace, quiet, comfort or serenity of the owners of the lots in this Subdivision. 21. ASSOCIATION. When a seventy-five percent (75%) majority of the lots are purchased from the subdivider, the subdivider and the owners of the lots in the Subdivision shall hereafter cause to be incorporated an Indiana not-for-profit corporation to be known as "Clearcrest Estates Owners Association, Inc." hereinabove and hereinafter referred to as "Association". The Association shall be formed for the purpose of enforcing these Restrictions, Reservations, Conditions and Protective Covenants, maintaining the common areas and facilities, if any, and for such other purposes as may be authorized by the By-Laws of such Association and/or the members thereof. In addition, the Association shall maintain the front gate lighting and fencing, Briar Lane, the private roadways in the Subdivision, the area for mailboxes, mailbox structure, and drainage basins as shown on the plat of the Subdivision so as to preserve an appropriate drainage plan for the Subdivision. All owners of lots in the Subdivision shall automatically be members of the Association and shall be subject to the terms and provisions of the Articles of Incorporation and By-Laws of said Association and the rules, regulations, restrictions, obligations, and assessments provided for herein. Any charges and assessments of said Association against any lot or lots in the Subdivision shall be a lien against said lot, enforceable by the Association by foreclosure, together with interest thereon, at the rate of eighteen percent (18%) per annum and reasonable attorneys' fees in the event of enforcement or other collection efforts are incurred; provided, however, that such lien or liens shall be secondary and inferior to the lien of any bona fide mortgage at any time of record against such lot or lots. 22. ACCEPTANCE OF DEED. Acceptance of a deed of conveyance to any lot in this Subdivision by any person shall be construed to be acceptance and an affirmation by such person of each and all of the covenants, conditions, reservations and restrictions herein set forth, whether or not the same be set out or specified in such conveyance. 23. CURING AMBIGUITY IN RESTRICTIONS. The subdivider reserves and shall have the sole right to amend this instrument and the covenants and restrictions herein set forth for the purpose of curing any ambiguity in or any inconsistency between the provisions hereof; to include in any contract or deed or other instrument hereafter made any additional covenants and restrictions applicable to the Subdivision which do not lower the standards of the covenants and restrictions contained herein; and/or to release any residential lot or lots from any part of the covenants and restrictions violated if subdivider, in its sole and subjective judgment, determine such violation to be minimal in nature and not detrimental to the Subdivision and/or its residents. 7

8 Notwithstanding anything contained herein, the present owner reserves and retains the right to amend and modify the covenants and restrictions of this instrument for a period of two (2) years after the initial recording of this instrument in the present owner s sole discretion. 24. ENFORCEMENT OF COVENANTS AND RESTRICTIONS. Each and all of the covenants, restrictions, conditions, and reservations contained herein shall inure to the benefit of all owners of lots in the Subdivision jointly and severally, and may be enforced by them, or by any of them, and/or the Building Committee herein established, in any court of competent jurisdiction by injunction or other appropriate remedy. The party adjudged to have violated any of said restrictions shall be liable to the aggrieved party for reasonable attorneys' fees, which shall be fixed by the court hearing said matter. The owner of any lot in the Subdivision and/or said Building Committee will have the right to enforce said covenants, conditions, restrictions, and reservations without proof of pecuniary damage to his property in this Subdivision, or otherwise. 25. INVALIDATION OF A RESTRICTION OR CONDITION. Invalidation of any of the foregoing covenants, conditions or restrictions by judgment or order of a court shall in no ways affect any of the other covenants, conditions, or restrictions, all of which shall remain in full force and effect. 26. BINDING EFFECT. Each and all of the covenants, reservations, conditions and restrictions herein contained shall be deemed covenants running with the title to the land and shall be binding upon all parties and all persons claiming under them for a period of twenty-five (25) years from the date of the recording of this instrument, after which time said covenants shall be automatically extended for successive periods of ten (10) years unless an instrument executed by a majority of the then owners of the lots in this Subdivision has been recorded agreeing to change, modify or eliminate said covenants and restrictions in whole or in part. IN WITNESS WHEREOF, the present owner and subdivider, by its duly authorized officer, has hereunto executed the foregoing Restrictions, Reservations, Conditions and Protective Covenants Affecting Title to Clearcrest Estates Subdivision this day of, Clearcrest LLC By: Aaron Kendall, Manager STATE OF INDIANA ) ) SS: COUNTY OF VANDERBURGH ) Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared the above-named Aaron Kendall, Manager of Clearcrest LLC, an Indiana limited 8

9 liability company, and acknowledged the execution of the above and foregoing as his free and voluntary act and deed for an on behalf of said limited liability company. WITNESS my hand and Notarial Seal this day of, Notary Public My Commission Expires: Printed Signature My County of Residence: This instrument was prepared by: Marc D. Fine, JACKSON KELLY PLLC, 221 N.W. Fifth Street, P.O. Box 1507, Evansville, Indiana 47706, Telephone (812) I affirm, under the penalties for perjury, that I have taken reasonable care to redact each Social Security number in this document, unless required by law. Marc D. Fine 9