SUMMARY RESTRICTIONS FOR PRAIRIE CROSSING SUBDIVISION

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5 SUMMARY RESTRICTIONS FOR PRAIRIE CROSSING SUBDIVISION Size Requirements: 1 Story: 1400 sq ft 2 Story: 1700 sq ft 1-1/2 Story: 1600 sq. ft. Setback Requirements: Front 25 feet Rear 25 feet Side 9 feet Side 8 feet Note: STREET side yard setback is 25 feet Minimum Roof Pitch (including attached garages): 6 / 12 Dimensional Shingles Required? Yes No Garages:Minimum 2 Car Attached Garage Required Detached Not Allowed Utilities & Antennas: Underground Utilities: Yes No Satellite Dish Allowed Yes No (IF YES, ACC APPROVAL REQUIRED!) Dish not to exceed 18 Tower Antenna Not Allowed Fences Allowed? Yes No (IF YES, ACC APPROVAL REQUIRED!) If yes: Maximum Height Allowable: feet Style Requirement: Chain link fencing of any type is not permitted. Swimming Pools Allowed: Above Ground Yes No (IF YES, ACC APPROVAL REQUIRED!) In-Ground Yes No (IF YES, ACC APPROVAL REQUIRED!) Vehicle Storage: Exterior storage allowed? Yes No (Motorhomes, snowmobiles, boats, motorcycles, ATV s, trailers, etc. are NOT permitted to be stored on site unless enclosed within attached garage) Outbuildings: Allowed? Yes No (IF YES, ACC APPROVAL REQUIRED!) Size Restriction: 12 x 14 Match Residence? Yes No Overhead door allowed? Yes No Homeowner s Association? Yes No If Yes: Annual Fee: $ Initial Reserve Fee: $89.00 (LOTS) Condominium Association: Reserve Fee: $ MONTHLY Assoc. Fee: $ Conservancy Subdivision? Yes No Stewardship Plan? Yes No Mailbox / Lamp Post Requirements: Matching Mailbox Required? Yes No If yes, Amount Charged: $ Lamp Post Required? Yes No Match within Subdivision? Yes No If yes, Amount Charged: $ Builder Restricted? Yes No

6 Prairie Pathways Subdivision Exhibit A to Offer to Purchase PURCHASER NAME(S): OFFER TO PURCHASE DATE: PROPERTY ADDRESS: Lot #, PRAIRIE PATHWAYS SUBDIVISION The following items are added to and made a part of the Offer to Purchase as described above: 1) Purchasers have received a copy of the Restrictive Covenants for Prairie Pathways Subdivision and the By-Laws for the Prairie Pathways Subdivision Homeowner s Association and agree to abide by same. Buyer is instructed to consult Section VI. Dwelling Quality for Architectural Control requirements. 2) DISCLOSURE: Raymond C. Leffler, owner of The Newport Group, Ltd., Newport Realty Corp., Newport Builders, Inc., and Newbrook Homes, Inc. is a licensed Wisconsin Real Estate Broker and is the owner of Prairie Pathways Subdivision. 3) Purchaser acknowledges a minimum front yard set back as described in Section VII of the Restrictive Covenants. 4) The final plat for Prairie Pathways Subdivision will be recorded with the Register of Deeds during the first quarter of the year Therefore, individual lots will not be individually assessed for the tax year 2006 and will remain a part of the overall tax key numbers until January 1, 2007 at which time the lots will be individually assessed. Therefore, the tax proration will be based on an estimated tax bill of $ per lot for the tax year As a result, the typical tax proration will not take place, instead the buyer will, at closing, give the seller a proration for the balance of the year (from date of closing to December 31, 2006). All monies given as credit for tax prorations are to be held in escrow with the title company until such time as the 2006 tax bills are released. Seller will receive a tax bill for the entire parcel and, upon receipt of said tax bill, will request the release of escrowed monies from the title company, will include the seller s portion of taxes due, and will pay in full all real estate taxes due. Seller will provide all individual lot owners with copies of the paid tax bills upon receipt from the Village Treasurer. (This paragraph applies only to closings occurring prior to December 31, 2006.) For closings taking place on or after January 1, 2007, but prior to the publication of the 2007 assessments, the tax proration shall be based on 80% of the sale price times the 2006 mill rate. At closing seller shall credit buyer with the necessary proration and buyer shall be responsible for all tax payments for the year For closings taking place after January 1, 2007, and after the publication of the individual 2007 assessments, the taxproration shall be based on the assessed value for 2007 times the 2006 mill rate (until the 2007 mill rate is published, at which time the 2007 rate shall be used). At closing seller shall credit buyer with the necessary proration and buyer shall be responsible for all tax payments for the year ) Buyer acknowledges that all improvements to the subdivision (i.e., grading, asphalt, sanitary sewer, water, storm sewer, gas, electric, telephone and cable) have been installed and paid for by the developer. All utilities including gas, electric, phone and cable are at lot lines or within road right-of-ways in front of lot. Buyer will be responsible for their own connection fees for sewer, water, gas, electric, phone and cable. Building permit fees may also include impact fees due to Village of Caledonia. 6) Buyer acknowledges that ownership of a lot or condominium unit in the Prairie Pathways Subdivision includes a 1/300th interest in the Prairie Pathways Subdivision Homeowner s Association and agrees to abide by the Bylaws for said association, a copy of which buyer acknowledges receipt of. Buyer acknowledges that the Homeowner s Association has levied an annual assessment against the individual lots for such items as cul-de-sac and landscaping maintenance, outlot maintenance, insurance for outlots, maintenance of entry monument and ponds, etc. At the time of closing, the initial ANNUAL association fee shall be $ per lot which shall cover the time period of January 1 through December 31 of each year. The association fee shall be prorated from the day of closing through the end of the year and the prorated amount shall be charged to buyer. Additional condominium fees due shall include $ start up fee and $ monthly association fee. At closing, buyer acknowledges a charge of $89.00 per lot to be deposited to the Homeowner s Association as a reserve start-up fund. This is a one time charge due only upon the original sale of the lot and does not apply to lots being re-sold by the owner. All funds collected for the reserve start-up fee and prorated association fees shall be deposited into the Prairie Pathways Homeowner s Association checking or savings account for the use of the Association. PAGE 1 OF 3

7 1. Buyer is aware that the United States Postal Service has the right to mandate the location of mailboxes within Prairie Pathways Subdivision. It has been the experience of the developer that the Post Office typically will require one pole with two or more mailboxes, depending upon the location within the subdivision. Therefore, at the time of closing, buyer shall deposit with the developer the sum of $ per lot for the purchase and installation of a mailbox to serve the property being purchased. Buyer acknowledges that the installation of the mailbox will not occur until such time as the buyer submits the Mailbox Request Form, which is provided at the time of closing, to the developer. The Mailbox Request Form may be mailed, personally delivered, or faxed as outlined on the Form. Buyer should allow sufficient time between the submission of the Form and the installation of the mailbox. Buyer further acknowledges that should completion of construction occur, and occupancy permit be issued, during the winter months, buyer may be required to provide a temporary mailbox for postal delivery until such time as the weather permits the installation of the ground mounted mailbox. 2. Buyer hereby acknowledges the Village of Caledonia requires the installation of a street tree on each and every lot within the Prairie Pathways Subdivision. A copy of the Village of Caledonia approved street tree list is included with the disclosure materials provided to buyer prior to, or at the time of signing this Offer to Purchase. To guarantee the installation of the street tree as required by the Village, Buyer shall deposit with the Developer the sum of $ per lot. At such time as the street tree has been planted, Buyer shall, in writing, request the release of the Street Tree Deposit from the Developer. The Developer shall inspect the property to verify the installation of the Street Tree. Upon verification by the Developer, the Developer shall release the Street Tree Deposit to the owner of the lot. Disbursement of Street Tree Deposit to any person other than the owner of the lot will not be permitted. Said disbursement of the Deposit shall be completed within 14 days of the Developer s receipt of the request for the release of the Deposit. 3. Buyer is aware that all Outlots as shown on the final plat for Prairie Pathways Subdivision are covered by a Conservation Easement entered into by the Developer with the Village of Caledonia and the Racine/Kenosha Land Trust to protect environmentally sensitive areas located within the Outlots. In addition, Developer has contracted with Thompson and Associates Wetland Services, LLC to implement a Stewardship Plan for all Outlots for a period of five (5) years. The fee for the entire plan, covering the initial five years, has been paid by the Developer. Buyer acknowledges that a portion of the reserve start-up fund outlined in Paragraph 5 above will be used at the end of the five year term to renew the monitoring requirements outlined in the Conservation Easement, whether with Thompson and Associates, or a different firm approved by the Village of Caledonia and the Racine/ Kenosha Land Trust. Buyer hereby acknowledges receipt of a copy of the Conservation Easement and Stewardship Plan for all Outlots. 4. At the time of closing, buyer shall deposit with the Developer the amount of $95.00 as a Conservation Easement Education Fee. Buyer is advised that the Racine/Kenosha Land Trust will perform bi-annual educational seminars for all residents of Prairie Pathways Subdivision. Said educational seminars should be attended by all residents so all residents are informed of the reason for a Conservation Subdivision, the permitted uses and the prohibited uses within the Outlots, and the responsibilities of the homeowners, the Homeowner s Association, the Land Trust and the Ecological Service performing services under the Stewardship Plan. This is a one time fee and is due only upon the original sale of the lot from the Developer to the first buyer. 5. Buyer hereby acknowledges that buyer, or buyer s builder, shall be required to submit to the Architectural Control Committee (at 6949 Mariner Drive, Racine, WI 53406) two (2) copies of their building plans, two (2) copies of their lot survey showing placement of proposed residence and driveway, and two (2) copies of the exterior color selections for the property. The Architectural Control Committee shall have UP TO 30 DAYS to review and approve, or deny, said submissions. Buyer understands that no building shall be started until such time as the Architectural Control Committee has approved building plans, which approval shall not be unduly withheld. Buyer is further aware that the Architectural Control Committee will be requiring architecturally appealing front elevations for every home in the Prairie Pathways Subdivision. 6. Buyer is hereby advised that all lots in the Prairie Pathways Subdivision are intended for single family residential dwellings, with the exception of Lots 35, 100, 121, 162 and 174 which are reserved for condominium homes. Each lot identified in this paragraph will contain two duplex condominiums, for a total of four (4) units per lot, or twenty (20) units within the subdivision. The owners of condominium units within the subdivision will have a 1/300th interest in the Outlots and be a member of the Prairie Pathways Homeowner s Association as well as the Prairie Pathways Condominium Owner s Association. The condominiums to be built upon these lots will be subject to the same Restrictive Covenants as the remaining lots in the Subdivision. 7. RESTRICTION ON OCCUPANY PERMITS: Lots 16, 17, 18, 19, 20, 21, 87, 88, 89, 90, 91, 92, 93, 128, 129, 130, 131, 132, 133, and 134 contain a restriction on the issuance of OCCUPANY permits by the Village of Caledonia. The developer is required to widen the road widths in the cul-de-sac areas of Sienna Court, Meadow Rose Court and Wild Ginger Way. The developer is required to submit revised construction plans and specifications for review and approval by the Village Engineer pursuant to a Road Acceptance Agreement with the Village of Caledonia. All work to PAGE 2 OF 3

8 widen the road widths is to be completed by June 30, 2006 with the exception of the final lift of asphalt which is to be installed by September 15, Until such time as all road work, with the exception of the final lift of asphalt, is completed and accepted by the Village Engineer, no OCCUPANCY permits shall be issued. It is developer s intention to complete said work as soon as weather permits. 8. All purchasers hereby acknowledge the disclosure that the properties identified below will be serviced by hung sewer. All sanitary sewer services for living space above grade will be handled by standard sanitary sewer service, however, any sanitary sewer service required below grade (i.e. basement bathrooms) will be serviced by hung sewer. A hung sewer is a pipe hung from the first floor to provide gravity drainage for the 1 st floor and above. Purchasers acknowledge a hung sewer system may require additional construction cost for the installation of the ejector pump and, depending upon usage, a slight increase in normal electricity charges, at the owner s expense. Lots subject to a hung sewer system include: Lot 35 (both units of the west duplex), 36-48, 49-60, 66-71, 76-81, 83-86, 95-98, , , , , both duplexes on Lot 162 (all four units), , 173, both duplexes on Lot 174 (all four units), , , and Possible hung sewer system required on lots: 72, 153, 159, 171, 172, and DISCLOSURE FOR BUILDERS AND/OR RE-SALE: ALL TERMS AND CONDITIONS CONTAINED WITHIN THIS EXHIBIT A MUST BE PROVIDED TO THE END PURCHASER. IT IS THE BUILDER S SOLE RESPONSIBILITY TO PROVIDE THIS INFORMATION TO THE PURCHASER OF A READY BUILT OR SPEC HOME WITHIN THE SUBDIVISION. BUILDERS FAILURE TO PROVIDE THIS INFORMATION SHALL IN NO WAY RELIEVE THE BUILDER, OR THE BUILDER S BUYER, OF THE RESPONSIBILITIES CONTAINED HEREIN. BUILDER SHALL PROVIDE ALL BUYER S WITH THE COMPLETE LIST OF MATERIALS AS SHOWN IN PARAGRAPH 16 BELOW. IN THE EVENT BUILDER S BUYER CONTACTS THE DEVELOPER FOR COPIES OF THE INFORMATION DUE TO BUILDER S FAILURE TO PROVIDE, DEVELOPER SHALL PROVIDE THE INFORMATION TO BUILDER S BUYER AT A COST OF $ TO THE BUILDER. BUYER HEREBY ACKNOWLEDGES RECEIPT OF THE FOLLOWING DOCUMENTS AND DISCLOSURES, WHICH ARE ATTACHED HERETO AND MADE PART OF THIS OFFER TO PURCHASE: CONSERVATION EASEMENT FOR OUTLOTS STEWARDSHIP PLAN FOR OUTLOTS RESTRICTIVE COVENANTS FOR PRAIRIE PATHWAYS SUBDIVISION HOMEOWNER S ASSOCIATION BYLAWS FOR PRAIRIE PATHWAYS SUBDIVISION SITE GRADING PLAN FOR LOT(S) COVERED UNDER THIS OFFER TO PURCHASE UTILITY EASEMENT EXHIBIT FOR LOT(S) COVERED UNDER THIS OFFER TO PURCHASE VILLAGE OF CALEDONIA APPROVED STREET TREE LIST PRAIRIE PATHWAYS INFORMATIONAL PACKAGE (RECEIPT REQUIRED) IT IS FURTHER UNDERSTOOD AND AGREED THAT THE BUYER IS ENTERING INTO THIS AGREEMENT BASED ON THE WRITTEN DOCUMENTS AND DISCLOSURES. BUYER S DESIRE TO ENTER INTO THE AGREEMENT IS MADE WITHOUT RELIANCE UPON ANY STATEMENT OR REPRESENTATION OF SELLER OR THEIR REPRESENTATIVES OTHER THAN WHAT IS CONTAINED IN THE AGREEMENT AND ATTACHED EXHIBITS. BUYER HAS READ THE AGREEMENT AND ATTACHMENTS AND UNDERSTANDS THEM. BUYER: SELLER: The Newport Group, Ltd. By: Raymond C. Leffler, President PAGE 3 OF 3