DECLARATION OF PROTECTIVE COVENANTS FOR WOLF CREEK RANCHES

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DECLARATION OF PROTECTIVE COVENANTS FOR WOLF CREEK RANCHES DECLARATION OF PROTECTIVE COVENANTS: This Declaration of Protective Covenants, hereinafter referred to as the Declaration, is made this 15 th day of May 2002 by Lillie S. Rhine Trust c/o Randy L. Rhine, hereinafter referred to as Declarant Owner, being the Seller of real property developed into 13 thirty-five or more acre parcels, hereinafter referred to in this Declaration as the Sites, located in Section 29, Township 5 South, Range 62 West of the 6 th P.M., County of Arapahoe, State of Colorado. Said Sites are described in detail on the Land Plat Survey and Legal Description, identified as Addendum A, attached hereto and incorporated herein. PURPOSE OF DECLARATION: This Declaration has been made as a means to form an attractive and desirable residential community. Therefore said Declarant Owner hereby imposes the following Protective Covenants on each of the Sites: ARCHITECTURAL CONTROL COMMITTEE: An Architectural Control Committee is hereby constituted. This committee is composed of Randy Rhine, Trustee of the Declarant Owner, Gwen Rhine, his wife and Frank Linnebur, Listing Agent and Associate Broker of Farm & Home Realty Company. The address is Frank Linnebur /Architectural Control Committee, 800 North US Highway 36, Byers, CO 80103. PRIVATE SINGLE FAMILY DWELLING (AND SECONDARY DWELLINGS): No structure other than one single family dwelling will be allowed on any Site unless a variance is obtained from Arapahoe County for a secondary dwelling. Building Plans on all family dwellings to be constructed on the Sites must meet the approval of the Architectural Control Committee prior to construction. The Architectural Control Committee reserves the right to waive any of the building restrictions below on any of said dwellings upon their review of the building plans. It is the intent of the committee to maintain uniformity and quality therefore the overall appearance of the structure will be an important consideration of approval. The waiver of any of said building restrictions below on any of said dwellings shall in no event be deemed a waiver of the right to enforce said building restrictions thereafter. 1. Ranch Family dwellings shall have a minimum 1,500 square feet, exclusive of basements, garages, porches, patios and accessory structures. 2. 2 Story Family dwellings shall have a minimum 2,000 square feet, exclusive of basements, garages, porches, patios and accessory structures. 3. All family dwellings shall have a minimum 5/12 pitch roof. 4. Each family dwelling shall include a 2 car garage of sufficient size to accommodate 2 full size automobiles. Depending upon the square footage and appearance of the dwelling, the Architectural Control Committee (may) waive this condition and allow a quality shop or barn facility to accommodate the same. 5. In addition to the above, modulars and /or factory built homes must meet Uniform Building Code (UBC) standards and must have upgrades which offset from a modular home look to meet the approval of the Architectural Control Committee.

Page 2 LOCATION OF DWELLINGS: All improvements on the Sites shall be located as to maintain minimum set back requirements per Arapahoe County zoning regulations. OUTBUILDINGS: All barns, animal shelter buildings and other structures shall be made of quality and customary materials built to professional standards. TEMPORARY STRUCTURES: No structure of a temporary character shall be used or erected on the Sites with the exception of a motor home or trailer for a period of time limited to 9 months during construction of a permanent dwelling on the Sites. Said temporary structures must conform with Arapahoe County Rules and Regulations and must be removed after said 9 month period or within 7 days after the Site Owner receives a Certificate of Occupancy from Arapahoe County. FENCES: All boundary and interior Site fences must be made of quality and customary material built to professional standards. Vinyl or other attractive fencing on road frontage and driveways is encouraged to maintain the quality and consistency of Wolf Creek Ranches. T-post and /or barbwire fencing on site frontage is discouraged. Site Owner s are encouraged to meet with bordering Site Owners to discuss location, ownership and maintenance of fences prior to construction. LANDSCAPING: Landscaping and the control of weeds both around homes and in driveway ditches in strongly encouraged to maintain Site values and the beauty of Wolf Creek Ranches. TRASH, RUBBISH, JUNK VEHICLES AND /OR MACHINERY, STORAGE: No portion of any Site shall be used for dumping tires, trash, rubbish, debris, garbage or other waste of any kind. Removal is the sole responsibility of the Site owner. No trash or other refuse shall be burned unless such trash or refuse is in a safety type burner which encloses such trash or refuse in an approved fire resistant retainer. No junked or inoperable automobiles or other vehicles including semi-trailers or over the road trailers or any other machinery in an inoperable condition shall be permitted or allowed to remain on the Sites (unless) they are stored in an enclosed outbuilding. Operable private recreational vehicles boats and their trailers may be stored outdoors. SEWAGE: Sewage shall be disposed of only by and through a septic system of adequate dimensions and capacity and of a type approved by the appropriate Arapahoe County and State of CO health authorities. OFFENSIVE ACTIVITY: No Site Owner shall permit any offensive or noxious activity to be conducted or carried out on any Site which creates a nuisance or unreasonable risk of damage to the other Sites. ANIMALS IN GENERAL: All animals on all Sites shall be managed so as not to be an odor, noise, danger or trespassing nuisance. All barn stalls and runs, corrals, kennels and similar animal confinement structures shall be kept reasonably clean and well drained. Piled manure and bedding shall be disposed of in a timely manner. LARGE ANIMALS: Large Animal being defined as a horse, bovine or animal of similar size (excluding swine). There is NO restrictions on the number of large animals except per Arapahoe County, however, the following conditions must be adhered to: 1). No outdoor confinement in open pens or corrals will be allowed in the front 330 feet of the Sites. Outdoor confinement in the front 330 feet of the Sites is limited to runs extending off enclosed barns whereby clean bedding is maintained in stalls and changed on a regular basis. Said runs must be made of quality panels (no wire) and be kept largely free of manure and well drained.

Page 3 2). Outdoor confinement in open pens or corrals in the 2 nd 330 feet of the Sites is limited to 8 large animals in an area not to exceed 7,200 square feet. 3). Outdoor confinement in open pens or corrals from 660 feet back to the rear of the Sites is limited to an area 16,000 square feet or 400 square feet per Site acre, whichever is greater. In the event that the rear of a Site corners another Site s frontage, then said outdoor confinement will be located in the corner which is furthest from another Site s frontage. OUTDOOR ARENAS: Arenas must be made of quality fence panels or pipe and shall not exceed an area of 50,000 square feet. Arenas must be located and maintained so as not to create a wind or water erosion hazard to other Sites. OVERGRAZING: Large animals must be fed supplementary to avoid overgrazing which shall not be permitted on the Sites outside of the confinement areas described above. If proof of overgrazing is required, a report or testimony by a technician of the Natural Resource Conservation Service (NRCS) shall be proof that a Site has been overgrazed and a potential wind and /or water erosion hazard to other Sites. The Site Owner will take corrective action as recommended by the NRCS to correct the problem. SWINE: No more then 1 Swine per 5 acres will be allowed on any Site. Swine must be confined and will not be allowed to graze. Outdoor confinement of Swine shall not exceed 60 square feet per Site acre and located a minimum of 660 feet back from the front of the Site and preferrably toward a back corner of the Site to remain as far as possible from other Site Dwellings. DOGS: The following restrictions shall apply to all dogs kept on the Sites: 1). Roaming of dogs onto other Sites is prohibited. 2). An enclosed kennel will be required for dogs which bark excessively. 3). Potentially dangerous dogs will be securely contained by a leash, fence or kennel. PRAIRIE DOGS: Prairie Dog infestations on Sites are a hazard to other Sites and will not be allowed on any Sites. Site Owners will work diligently with Arapahoe County Authorities to control Prairie Dogs before infestations can occur. WEED INFESTATIONS & NOXIOUS WEEDS: Weed infestations result in tumble weeds which fill fences and are a nuisance and fire hazard for other Sites. Weeds over 12 high must be mowed and Site owners must work diligently to replace the weeds with a good stand of grass or cover crop. Site Owners will work diligently to control noxious weed patches such as Bind Weed, Leafy Spurge and Canadian Thistle which spread quickly and are especially hard to eradicate once established. If proof of a weed infestation or noxious weed hazard is required, a report or testimony by a technician of the Natural Resource Conservation Service (NRCS) shall be proof that a Site is infested and a hazard to other Sites. The Site Owner will take corrective action as recommended by the NRCS to correct the problem. FARMING: A caution to Site Owners who wish to farm using herbicides and pesticides due to the applicators liability involved with chemical drift and odor effecting plants, animals and humans. Site Owners who wish to farm using tillage operations must practice good residue management to maintain a high level of plant residue in the soil to prevent wind and water erosion of the farmed Site. If proof of poor residue management is required, a report or testimony by a technician of the Natural Resource Conservation Service (NRCS) shall be proof that a Site is highly erodable and a hazard to other Sites. The Site Owner will take corrective action as recommended by the NRCS to correct the problem. Maintaining the Sites in grass, dry land alfalfa or other crops which produce pasture or feed with minimal tillage and chemicals is greatly encouraged.

Page 4 ENFORCEMENT: In the event of any violation of any of the provisions contained herein, the Declarant Owner, the Architectural Control Committee, or any Site Owner may bring action at law or in equity, either for injunction, action for damages, or such other remedies as may be available. In addition, due to the fact that the provisions of these Protective Covenants cannot cover every situation in which a Site Owner or Site could become a nuisance, hazard, potential hazard, or eye sore for other Site Owners; a petition signed by a majority of all Site Owners and /or signed by one Site Owner s 3 closest neighboring Site Owners, against said one Site Owner s activity, use and /or Site appearance shall be cause for that one Site Owner to remedy his offensive activity, use, or Site appearance to reasonably conform to the wishes of said petitioning party in a reasonable period of time. If not, said petitioning party may bring action at law or in equity, either for injunction, action for damages against said one Site Owner, or such other remedies as may be available. FAILURE TO ENFORCE: The failure by the Declarant Owner, the Architectural Control Committee, or any of the Site Owners to enforce any provision herein contained shall in no event be deemed a waiver of the right to do so thereafter as to the same breach or as to one occurring prior or subsequent thereto, nor shall such failure give rise to any claim or cause of action against the Declarant Owner, the Architectural Control Committee or any member thereof. (NOTE): These protective covenants were not adopted to restrict Site Owners from any activity or use of their Site which does not create a nuisance, hazard, potential hazard or eye sore for other Site Owners. Site Owner s who are considerate of fellow Site Owners will achieve the greatest use and enjoyment of their Property. INTERIOR ROADWAY INGRESS & EGRESS EASEMENT FOR S. LENZ STREET: One 60 foot wide road easement established which will provide the area in which a gravel road identified as S. Lenz St. will be built to provide access to interior Sites. Said easement runs over the East 30 feet of Sites 5, 6, 7, and 1 and the West 30 feet of Sites 8, 10, 12 and 13 and is specifically described on Addendum A, (Easement A and Easement B) attached hereto and incorporated herein. The portion of the Sites over which said easement runs remains the Site Owner s property, however, said easement takes away the individual Site Owner s private right to use his property. INITIAL CONSTRUCTION OF S. LENZ ST: The Declarant Owner agrees to construct S. Lenz St. to a standard meeting or exceeding emergency vehicle specifications as determined by the local fire district. MAINTENANCE OF S. LENZ ST: After the construction of S.Lenz St. is complete, the Declarant Owner will maintain said road at his expense for a period of 6 months, after which, it shall be maintained by those Site Owners gaining access off said road. There will be a sharing of the maintenance expense on a pro rate basis of ownership of the Site owners gaining access off said road including those Sites requiring future access of said road, which remain in the Ownership of the Declarant Owner. ROAD 42 INGRESS & EGRESS EASEMENT: One 60 foot wide easement being the North 60 feet of Sites 1, 8, and 9 is established to provide access to the Sites as well as other Property in the area. At his option, the Declarant Owner may or may not improve or maintain the road or trail presently in use. Said Road 42 Easement is more specifically described on Addendum A (Easement A and Easement B) attached hereto and incorporated herein. The portion of the Sites over which said easement runs remains the Site Owner s property, however, said easement takes away the individual Site Owners private right to use his property.

Page 5 SITE 11 PRIVATE INGRESS & EGRESS EASEMENT: One 60 foot wide easement being the East 60 feet of Site 9 is established to provide access to Site 11. There is no road or trail currently in place at this time and Declarant Owner is making no representation that he will improve or maintain said road easement. Said Site 11 Easement is more specifically described on Addendum A (Easement B) attached hereto and incorporated herein. The portion of Site 9 over which said easement runs will remain the Site owner s property, however, said easement takes away said Owner s private right to use his property. NON-LIABILITY OF DECLARANT OWNER AND /OR ARCHITECTURAL CONTROL COMMITTEE: Approval of building plans by the Architectural Control Committee shall not be deemed to constitute compliance with the requirements of any local building codes or other State or County regulations and it shall be the responsibility of the individual Site Owner to comply therewith. Neither the Committee nor the Declarant Owner shall be liable in damages to anyone submitting plans to them by reason of mistake in judgment or nonfeasance arising out of or in connection with the approval or disapproval of building plans presented. WOLF CREEK RANCHES OWNERSHIP ASSOCIATION: These covenants are to run with the land and shall be binding on all parties and all persons claiming under them. At the point in which all of the Sites are purchased from the Declarant Owner, the Architectural Control Committee will terminate. At the point in which 7 Sites are purchased from the Declarant Owner, the Wolf Creek Ranches Ownership Association will at that point be established. It will be composed of one representative from each Site located in Section 29, Township 5 South, Range 62 West. It is agreed that the Ownership Association will have the right by majority vote to allow exceptions to the covenants on a case by case basis and by a 2/3 or greater vote to amend the covenants or to eliminate the covenants in part or in whole. The purpose and Mission Statement of the representatives of the Ownership Association will be to use their individual vote and right to legal action to enforce the covenants while remaining flexible to allow each individual parcel owner free use of their property in ways which will maintain and /or enhance the surrounding parcels value, rural character, asthetic beauty and quiet enjoyment. INVALIDATION: Invalidation of any one of these restrictions by judgment of Court order shall in no wise affect any of the other provisions which shall remain in full force and effect.

Page 6 IN WITNESS WHEREOF, the undersigned have executed these covenants on this day of June, 2002. By: Randy L. Rhine STATE OF TEXAS COUNTY OF TARRANT The forgoing instrument was acknowledged before me this day of, 2002, Randy L. Rhine for the Lillie S. Rhine Trust. My commission expires, Notary Public