PERSIMMON GROVE. Developer Pulte Group North Meridian Street, Suite 530 Carmel, IN 46032

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PERSIMMON GROVE A RESIDENTIAL PLANNED UNIT DEVELOPMENT In Avon, Indiana Developer Pulte Group 11590 North Meridian Street, Suite 530 Carmel, IN 46032 Attorney Comer Law Office Ben Comer 71 West Marion Street Danville, IN 46122 1

TABLE OF CONTENTS I. Letter of Intent II. III. IV. Single-Family Residential Development and Architectural Standards Reference to Prior Approvals Additional Comments V. Landscape Commitments VI. Park Commitments Formatted: Bullets and Numbering Exhibit A - Legal Description Exhibit B - Location Map/Aerial Photo Exhibit C Architectural Pattern Book Exhibit D - Sample Home Elevations Exhibit E Concept Plan (page 1) Areas A, B, and C defined (page 2) Exhibit F Architectural Features Grid (Front Elevation) Exhibit G Play Set Example 2

I. LETTER OF INTENT In 2004, Persimmon Grove was rezoned to R-4 for Portrait Homes to build attached duplex condominium buildings for a total not to exceed two hundred four (204) units. Certain building and development conditions were made at the time of rezoning approval. The project was started, but never completed, and foreclosure resulted in a bank owning the project. Prior to foreclosure, thirteen (13) duplex structures were built and twenty-six (26) existing condominium units sold. Some units are one-story ranches, and others are two-story townhomes. The remaining land in developed Section 1 and the undeveloped land in Section 2 are for sale by the bank. Petitioner, Pulte Group, is interested in purchasing the remaining land and taking over as developer to finish the project. This interest is conditioned upon the project being converted to a single-family residential subdivision, as the market for an attached condominium unit is presently gone, resulting in this bankrupt project. The existing state of Persimmon Grove as a partially completed project should be regarded as a factor in this rezone discussion. In order to finish the build-out of the Persimmon Grove project with single-family homes, a PUD-R zoning district is necessary. Pulte is proposing to build forty-five (45) single-family homes in Section 1, and up to seventy-eight (78) homes in Section 2, for a total of one hundred twenty-three (123) new homes. Together with the existing twenty-six (26) condo units in Section 1, there will be a maximum of one hundred forty-nine (149) residential living units. This is a reduction of fifty-five (55) units from the original Persimmon Grove plan, or a twenty-seven percent (27%) reduction in living units. The gross density equates to 2.85 units per acre, compared to the 4.0 units per acre allowed under the original Portrait Homes rezoning. The proposed density fits within the Comprehensive Plan recommendation for 1-4 units per acre. The leasing restrictions contained in the original R-4 zoning Commitments will be carried forward into the proposed PUD. The existing Portrait Home condominiums sit on lots beginning at 5,880 square feet per unit. Pulte proposes minimum lot sizes of 7,200 square feet per home. Home sizes would increase to 1,400 square foot ranches, and 1,700 square foot two-story homes. Required architectural features as detailed in the PUD Ordinance will replace the current masonry requirements established by Portrait Homes in their R-4 zoning approval. Building materials and architectural features along County Road 200 North and on the fronts of the single-family homes will vary from the Town Zoning Ordinance, as detailed in the PUD Ordinance. Perimeter landscaping and walking trail commitments attached to the original Persimmon Grove R-4 Zoning will be retained and implemented. Individual lot landscaping shall be installed according to the terms of this PUD Ordinance. In order to blend its product with the existing condominiums, Pulte commits to building only one-story ranch homes on lots closest to the existing condos, and either one-story or two-story homes in the remainder of Persimmon Grove. The area reserved for ranch-style homes is detailed on a map Exhibit within the PUD Ordinance packet, labeled as Area A. A master Homeowners Association will be created to oversee the existing condo HOA, and the proposed single-family HOA. Professional outside management of the Master Association will be required in the Restrictive Covenants. Pulte is the developer of a similar project (albeit a much larger project) in Fishers called Avalon. Avalon was started in 2002, and is a mixture of 1,250 single-family homes and condominiums in the same project. Pulte implemented a master 3

Homeowners Association in Avalon to manage the two different types of associations condominium and single-family. Petitioner has valuable experience in mixed-use residential Planned Unit Developments that will ease the transition and build-out of Persimmon Grove. This is an in-fill project, with various types of housing surrounding the subdivision. The area is home to a mixture of uses. To the northeast is a trailer court; to the northeast is the Wynbrooke PUD, with fifty-foot (50 ) wide lots at the closest point; to the east along 1050 East are individual home sites; to the south are a variety of home types within older and newer subdivisions, including a CP Morgan community; and to the west is a farm field. Because the farm field to the west is slated for commercial development along Ronald Reagan Parkway, Persimmon Grove continues to be a buffer community, and a slightly higher density ratio is expected in such areas. Furthermore, Pulte expects the proximity of Indiana University hospital and proposed medical offices in the immediate area, will result in home sales to those employed in the medical field. Pulte s concept, in sum, is to build detached single-family homes in lieu of attached condominiums, and replace brick with other architectural features. Given the challenge of blending a single-family product into an in-fill project like Persimmon Grove, the PUD-R district is needed to create a marketable community with an opportunity to build-out. Pulte has experience with this type of mixed community in the Indianapolis area. They estimate it will take at least five (5) years to complete the project in this market. II. SINGLE-FAMILY RESIDENTIAL DWELLING REQUIREMENTS A. DISTRICT INTENT: The purpose is to permit forty-five (45) single-family homes in Section 1, and seventyeight (78) single-family homes in Section 2, for a total of one hundred twenty-three (123) single-family homes with centralized sewer and water facilities. Together with the existing twenty-six (26) condo units in Section 1, there will be a maximum of one hundred fortynine (149) residential living units in Persimmon Grove. B. PERMITTED USES: Dwelling - Single Family Detached (maximum 123 homes). Accessory structures pursuant to the Avon Zoning Ordinance. Used not expressly listed in this Section B shall be considered prohibited. C. DEVELOPMENT STANDARDS: 1. Minimum Lot Size: 7,200 square feet 2. Minimum Lot Width: 60 feet 3. Maximum Lot Depth to Width Ratio: 3:1 4. Maximum Lot Coverage: 40% 5. Minimum Front Yard Setback: 25-feet 4

6. Minimum Side Yard Setback: 5-feet 7. Minimum Sum of Side Yard Setbacks: 15-feet 8. Minimum Rear Yard Setback: 10-feet 9. Maximum Height: 40-feet 10. Minimum Livable Floor Area*: 1,400 square feet (one-story) 1,700 square feet (two-story total) 900 square feet (two-story first floor) *Note: Livable Floor Area shall not include garages or porches, except that a porch, which is enclosed and heated and/or cooled for use year round may be included in the calculation. D. ARCHITECTURAL REQUIREMENTS: The following architectural requirements shall replace in their entirety the architectural requirements set forth in the Avon Zoning Ordinance, including but not limited to Sections 4-8 and 8-5: 1. If used, vinyl shall be premium grade vinyl siding and shall have a minimum thickness of 0.044 inches and shall comply with the ASTM (American Society for Testing and Materials) Standard Specification for rigid poly siding (ASTM D3679). All siding shall be Class I as listed in this standard. The minimum length of uncut siding pieces shall be twelve (12) feet. The installer shall make every effort to minimize the number of joints and to keep the length of installed siding pieces to twelve (12) feet. Additionally, the selected materials shall preserve a wood grained finish in both the siding and the trim. 2. Residential drives shall be constructed of concrete material. 3. Anti-Monotony Code: a. No house shall be of the same front elevation design as any other house within two (2) houses to each side of the subject lot nor directly across the street. b. No single front elevation design may be applied to more than twenty-five percent (25%) of the front elevations within any single phase of a development. c. Mirror images of the same configuration/elevation do not meet the requirement. 4. A variety of home styles shall be encouraged by allowing for a different set of required and optional choice architectural features for each home style. 5. All single story homes shall have 100% brick on the front elevation façade (exclusive of doors, windows, garages, other openings, and gables where style applicable) unless the home is constructed utilizing elements of one of the following architectural styles: Craftsman, Low Country, Country, Cottage, Classical or Heartland style architecture. Please refer the Pattern Book plans for Persimmon Grove attached hereto as exhibit C-3 and the example elevations attached hereto as exhibit C-4, and to the Architectural Feature Grid for front elevation features attached as Exhibit F. 6. Area A as shown on Exhibit E shall be limited to single-story homes. 7. All multi-story homes shall have 50% brick on the front elevation façade (exclusive of doors, windows, garages, other openings, and gables where style applicable) unless the home is constructed utilizing elements of one of the following architectural styles: 5

Craftsman, Low Country, Country, Cottage, Classical or Heartland style architecture. Please refer the Pattern Book plans for Persimmon Grove attached hereto as exhibit C-3 and the example elevations attached hereto as exhibit C-4. 8. All homes shall have a minimum of five (5) of the architectural options available for the front elevation of each home type as listed in attached Exhibit F. The Pattern Book attached as Exhibit C and referenced in paragraphs 5 and 6 above should be utilized to select the appropriate options for the architectural style. The example elevation drawings as depicted in Exhibit D represent the implementation of the architectural elements in an actual floor plan particular to a historical house style. Each elevation shall have at least one architectural element ( point ) on its front elevation from each of the following five categories below, unless the architectural style contains more than one Roof Style architectural element, in which case the front elevation shall still require at least five total points, but will not be required to have one point from each category: i) Roof Style (a) Front Gable (b) Hipped roof (c) shed roof ii) Front Porch (a) Porch Columns (b) Porch Railings (c) Large Covered Porch iii) Materials (a) Horizontal Siding (0.044) (b) Vertical Siding (c) Shake Siding (d) Brick (e) Board & Batten iv) Windows (a) Windows wrapped in exterior trim (b) Windows wrapped in Brick detail (c) Shutters on Front Elevation Per Architectural Style (d) Window Grids on Front Elevation Per Architectural Style v) Other feature(s) (a) Dormers (b) Dutch Hip (c) Bay Window (d) Box Window (e) Porch Column Brackets (f) Porch Column Bas (Decorative) (g) Window in gable (h) Gable Vents & Fypons (i) Gable Brackets (j) Window on Side of House g. Not more than 20% of the homes in Persimmon Grove will have the minimum number of architectural options. III. REFERENCE TO PRIOR APPROVALS: 6

A. FORMER ZONING COMMMITMENTS PER ZA 04-05 (Portrait Homes): All Zoning Commitments or Conditions made as part of ZA 04-05 (Portrait Homes) are hereby released and replaced in their entirety by the following Commitments: 1. Maximum gross density for single-family homes shall be 3.0 dwellings per acre. 2. Homes backing up to CR 1050 shall be no more than 40-feet in height. 3. Minimum dwelling unit size shall be 1,400 square feet. 4. Minimum building separation shall be 15 feet. 5. Six (6) foot high mounds with trees shall be required on the south side of the development and along County Road 1050 East. 6. Maximum building eight shall be 40 feet. 7. All brick requirements shall be waived. The fronts of buildings shall utilize the Architectural Requirements set forth above in Section D above. 8. A common amenity building has been constructed of a minimum 1,000 square feet. 9. Any vinyl utilized shall comply with Section D above. 10. Drives shall be constructed of concrete material. 11. A trail constructed to the Town standards and any standards dictated by the pipeline utility shall be provided along the pipeline easement, provided permission is granted by the utility for the construction of the trail. 12. Language shall be contained in the Covenants limiting the ease of leasing and investment rentals. This language shall be substantially the same or similar to the language attached as the Lease Restriction Exhibit. B. FORMER WAIVERS PER MAP (P) 04-13 (Persimmon Grove): All waivers obtained in MAP (P) 04-13 (Persimmon Grove) shall be retained and applicable to development within this PUD. Specifically, the alternative standards shall be: 1. To reduce the 60 foot required right-of-way width to 50 feet, provided the only change to the right-of-way cross section is to move the utilities out of the right-of-way and into an easement outside of the right-of-way, provided that the speed limit be reduced to 20 mph throughout the development. 2. To reduce the minimum centerline radius from 180 feet to 150 feet for the curve located at the northwest corner of the property, provided that the speed limit be reduced to 20 mph throughout the development. 3. To reduce the minimum tangent required prior to an intersection from 50 feet to 35 feet throughout the development, provided that the speed limit be reduced to 20 mph throughout the development and that the Petitioner provide all-way stops at intersections where the minimum tangent is reduced. 4. To increase the maximum tangent required prior to an intersection from 500 feet to 640 feet for the centrally located roads running parallel to the pipeline. 5. To permit private road sections with a radius of 40 feet, also known as eyebrows, provided that these areas are clearly delineated in the Covenants and Plats as private drives, not to be maintained by the Town of Avon and provided they are developed to the street standards of the Town. IV. ADDITIONAL COMMENTS 7

1. A Master Umbrella homeowners association shall be formed and professionally managed for the mutual benefit of the existing condominium association and the single-family association. 2. The earliest anticipated Schedule of Development would be as follows: a. 2012: build single-family homes in Section 1. b. 2013: develop Section 2. c. 2014: building single-family homes in Section 2. d. Soonest anticipated full build-out: 2017. 3. Until such time as the permanent drainage improvements and infrastructure are installed with development of Section II, Petitioner agrees to create two (2) temporary drainage swales for the intended purpose of carrying surface water from the Shiloh Country Estates subdivision (adjoining immediately on the south property line) into the temporary drainage pond within proposed Persimmon Grove, Section II. 4. Prior to building any homes in Section II, Petitioner will install an eight-foot (8') shadowbox-style privacy fence on top of the mound along the south property line. V. LANDSCAPE COMMITMENTS A. Yard Landscaping & Foundation Plantings 1. One (1) tree of 2 ½ caliper (as measured 6 from the ground) at time of planting in the front yard of the lot. Corner lots will have two (2) 2 ½ caliper trees, one tree in each yard that is adjacent to a street. 2. Eight shrubs. 3. The entire front yard shall be sodded to the front points of the home. Side and rear yards shall be seeded. VI. PARK COMMITMENTS Formatted 1. Developer will provide a park area within Section 1, to be platted as common area, consist of at lease 0.90 acres, and include the following amenities once fifty percent (50%) of permits in the overall subdivision have been issued: a. Play set, similar to that shown on attached Exhibit G. b. Swing set. c. Seat bench. d. Minimum twelve (12) trees. e. Hard surface access walkway to the playground area. Formatted: Bullets and Numbering Formatted: Bullets and Numbering 8

9

Exhibit A Legal Description Part of the East half of the Northwest quarter of Section 32, Township 16 North, Range 2 East, in Washington Township, Hendricks County, Indiana, more particularly described as follows: Commencing at a railroad spike found at the Southeast corner of said half-quarter section; thence along the east line of said half quarter section North 01 degree 09 minutes 25 seconds West 671.96 feet to the Northeast corner of Shiloh Country Estates, per plat thereof recorded in Book 8, page 77 in the Office of the Recorder of Hendricks County, Indiana, and the Point of Beginning; thence along the North line of said plat, South 88 degrees 30 minutes 40 seconds West 1326.08 feet to the West line of said half-quarter section; thence along said West line North 01 degree 16 minutes 58 seconds West 1997.15 feet to the North line of said half-quarter section; thence along said North line, North 88 degrees 27 minutes 24 seconds East 702.47 feet to the Northwest corner of land described to Hutchens in Book 323 page 851; thence along the West line of said Hutchens land South 01 09 minutes 25 seconds East 655.17 feet; thence North 88 degrees 32 minutes 03 seconds East 627.99 feet to the East line of said half-quarter section; thence along said East line South 01 degree 09 minutes 25 seconds East 1342.41 feet to the Point of Beginning, containing 51.47 acres, more or less. The above described real estate includes Blocks A, B, C, D, E, F, G, H, and J in Persimmon Grove Condominium Section 1, Hendricks County, Indiana, created by Declaration recorded July 18, 2007 as Instrument Number 200700018559, as amended and supplemented from time to time, in the Office of the Recorder of Hendricks County, Indiana, containing approximately 27.82 acres, more or less. EXCEPTING THEREFROM the platted units in Persimmon Grove Condominium Section 1, which are described as follows, to-wit: Unit 2 A, also known as Unit 201, and Unit 2 B, also known as Unit 202, Building 2 in Block C, Persimmon Grove Section 1, as created by Declaration recorded July 18, 2007 as Instrument Number 200700018559, as amended and supplemented; Applicable Amendment recorded November 23, 2009 as Instrument Number 200929744; Site and/or Floor Plans recorded November 5, 2009 as Instrument Number 200927896 in Plat Cabinet 7, Slide 99, page 2 A, 2B and 2C, in the Office of the Recorder of Hendricks County, Indiana. Unit 3 A, also known as Unit 301, and Unit 3 B, also known as Unit 302, Building 3 in Block C, Persimmon Grove Section 1, as created by Declaration recorded July 18, 2007 as Instrument Number 200700018559, as amended and supplemented; Applicable Amendment recorded November 23, 2009 as Instrument Number 200929747; Site and/or Floor Plans recorded November 5, 2009 as Instrument Number 200927897 in Plat Cabinet 7, Slide 99, page 1A, 1B and 1C, in the Office of the Recorder of Hendricks County, Indiana. Unit 5 A and Unit 5 B, Building 5 in Block C, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded April 9, 2008 as Instrument Number 200808722; Site and/or Floor Plans recorded April 8, 2008 as Instrument Number 200808721 in Plat Cabinet 7, Slide 46, page 2A, 2B and 2C; Unit 5 A also referred to as Unit 501 and Unit 5 B also referred to as Unit 502, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. 10

Unit 8 A and Unit 8 B, Building 8 in Block B, Persimmon Grove Section 1, as created by supplemented; Site and/or Floor Plans recorded July 18, 2007 as Instrument Number 200718557 in Plat Cabinet 7, Slide 8, page 2A, 2B and 2C; Unit 8 A also referred to as Unit 802 and Unit 8 B also referred to as Unit 801, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. Unit 9 A and Unit 9 B, Building 9 in Block B, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded February 15, 2008 as Instrument Number 200803641; Site and/or Floor Plans recorded February 15, 2008 as Instrument Number 200803640 in Plat Cabinet 7, Slide 42, page 2A, 2B and 2C; Unit 9 A also referred to as Unit 901 and Unit 9 B also referred to as Unit 902, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. Unit 10 A and Unit 10 B, Building 10 in Block B, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded September 21, 2007 as Instrument Number 200700024936; Site and/or Floor Plans recorded September 21, 2007 as Instrument Number 200700024935 in Plat Cabinet 7, Slide 20, page 1A, 1B and 1C; Unit 10 A also referred to as Unit 1002 and Unit 10 B also referred to as Unit 1001, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. Unit 11 A and Unit 11 B, Building 11 in Block B, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded September 21, 2007 as Instrument Number 200700024938; Site and/or Floor Plans recorded September 21, 2007 as Instrument Number 200700024937 in Plat Cabinet 7, Slide 19, page 2A, 2B and 2C; Unit 11 A also referred to as Unit 1102 and Unit 11 B also referred to as Unit 1101, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. Unit 22 A, also known as Unit 2202, and Unit 22 B, also known as Unit 2201, Building 22 in Block A, Persimmon Grove Section 1, as created by Declaration recorded July 18, 2007 as Instrument Number 200700018559, as amended and supplemented; Applicable Amendment recorded May 20, 2008 as Instrument Number 200812239; Site and/or Floor Plans recorded May 20, 2008 as Instrument Number 200812238 in Plat Cabinet 7, Slide 52, page 1A, 1B and 1C; all in the Office of the Recorder of Hendricks County, Indiana. Unit 23 A and Unit 23 B, Building 23 in Block A, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded February 15, 2008 as Instrument Number 200803639; Site and/or Floor Plans recorded February 15, 2008 as Instrument Number 200803638 in Plat Cabinet 7, Slide 42, page 1A, 1B and 1C; Unit 23 A also referred to as Unit 2302 and Unit 23 B also referred to as Unit 2301, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. 11

Unit 24 A, also known as Unit 2402, and Unit 24 B, also known as Unit 2401, Building 24 in Block A, Persimmon Grove Section 1, as created by Declaration recorded July 18, 2007 as Instrument Number 200700018559, as amended and supplemented; Applicable Amendment recorded November 23, 2009 as Instrument Number 200929748; Site and/or Floor Plans recorded November 5, 2009 as Instrument Number 200927895 in Plat Cabinet 7, Slide 98, page 2A, 2B and 2C; all in the Office of the Recorder of Hendricks County, Indiana. Unit 34 A and Unit 34 B, Building 34 in Block F, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded November 15, 2007 as Instrument Number 200729420; Site and/or Floor Plans recorded November 15, 2007 as Instrument Number 200729419 in Plat Cabinet 7, Slide 28, page 1A, 1B and 1C; Unit 34 A also referred to as Unit 3401 and Unit 34 B also referred to as Unit 3402, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. Unit 35 A and Unit 35 B, Building 35 in Block F, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded November 15, 2007 as Instrument Number 200729423; Site and/or Floor Plans recorded November 15, 2007 as Instrument Number 200729422 in Plat Cabinet 7, Slide 28, page 2A, 2B and 2C; Unit 35 A also referred to as Unit 3501 and Unit 35 B also referred to as Unit 3502, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. Unit 36 A and Unit 36 B, Building 36 in Block F, Persimmon Grove Section 1, as created by supplemented; Applicable Amendment recorded September 21, 2007 as Instrument Number 200700024942; Site and/or Floor Plans recorded September 21, 2007 as Instrument Number 200700024941 in Plat Cabinet 7, Slide 20, page 2A, 2B and 2C; Unit 36 A also referred to as Unit 3601 and Unit 36 B also referred to as Unit 3602, per Certificate of Correction recorded May 14, 2008, as Instrument Number 200811798, all in the Office of the Recorder of Hendricks County, Indiana. 12