RODEO RANCHES SUBDIVISION PHASES I & II. Amended Declarations of Covenants, Conditions and Restrictions

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RODEO RANCHES SUBDIVISION PHASES I & II Amended Declarations of Covenants, Conditions and Restrictions

April 10, 2003 AMENDED DECLARATIONS OF COVENANTS, CONDITIONS AND RESTRICTIONS AFFECTING REAL PROPERTY Rodeo Ranches Subdivision (Phases I & II) In accordance with Paragraph 4 and Paragraph 28D, the original Declaration of Covenants, Conditions and Restrictions Affecting Real Property is hereby amended to, include additional lands, a description which is attached hereto and in other particulars as follows: Hall Cattle Company Ltd. a New Mexico Limited Partnership, is the owner of certain lands situate in Hidalgo County, New Mexico and described in Exhibit A and B attached hereto, Property and Uni-Western Realty, Ltd., a corporation Developer, Trustee, for the purpose of preserving and protecting the value of the Property, its natural beauty, and its desirability for us as a quality residential, recreational and resort area, and in furtherance of a common plan, does hereby subject the Property to and declare the following covenants, conditions and restrictions: 1. Term. These restrictions shall run with the land and shall be binding upon all owners and persons claiming under them for a period of twenty (20) years following the date of this instrument, after which time the same shall be extended for successive periods of ten (10) years each, unless an instrument of cancellation signed by the then owners of not less than sixty-six and 2/3 s percent (66 2/3%) of the Property has been recorded. 2. Definitions. A. Mobile Home shall mean any dwelling that is built on a chassis or any dwelling a material portion of the shell of which has been prefabricated at another location or any dwelling customarily referred to as a mobile home. B. Result of Survey Parcel (s) shall mean any parcel of land which Developer has divided or hereinafter divides the Property and as shown on a Result of Survey. The term

Divided Parcel shall also mean parcels which are subsequently divided in accordance with the provisions hereof and of applicable law. The term Parcel (s) alone shall include both Result of Survey Parcel (s) and Divided Parcel (s). C. Result of Survey (s) means the Result of Survey of record as referred to above, as may hereafter by amended, together with any future Results of Survey by virtue of expansion as provided for in paragraph 4. D. Second Hand Business shall mean the business of buying and selling previously used equipment and other personal property. E. Cottage Business shall mean any relative small scale business operation carried on in the homes of the lot owners within the subdivision. Such businesses which require access to the public shall only be allowed in areas designated to be commercial. Lots numbered 50 through 64 in Phase I have been designated as commercial lots on the Plat of Survey of the subdivision and lots 201 through 218 of the Plat of Survey of Phase II shall be designated as commercial lots. 3. Property Owners Association A. Parties hereto agree that they will form an unincorporated association under the provisions of Section 53-10-1 et seq., NMSA (New Mexico Statutes Annotated) for the purpose of maintaining the interior roadway within the subdivision as constructed by the Developer. Such association shall be named Rodeo Ranches Subdivision Home Owners Association. B. Each and every parcel owner, in accepting a deed or contract for any parcel, whether or not it shall be so expressed in such deed or contract, automatically becomes a member of the Association, and agrees to be bound by such reasonable rules and regulations as may, from time to time, be established by the Association. Membership shall belong with and may not be separated from ownership of the parcel. The rights and obligations of an owner and membership in the association shall not be assigned, transferred, pledged, conveyed, or alienated in nay way, except upon transfer of ownership of such parcel, whether by in testate succession, testamentary disposition, foreclosure of a mortgage, or such other legal processes as now in effect or as may be hereafter established pursuant to the law of the State of New Mexico. The Association shall be operated and conducted on a strictly cooperative and non-profit basis. Each parcel owner as a member shall have such voting rights as set forth in the Declaration.

C. In furtherance of its purposes, which are generally set forth above, the Association shall provide necessary and appropriate action for the maintenance, repair, replacement and management of the other properties referred to in paragraph 3 A above and shall have the right to enter upon a Parcel, if reasonable necessary, in order to accomplish its purpose. D. The Association shall have the power to borrow and encumber its assets and, in all respects, shall have the powers necessary to carry out its purposes, whether or not specifically set forth herein, including the power to enter into contracts with third parties to perform all or part of its functions, and to hire its own employees to do so. The Association shall have the power to dedicate the roads and grant the easements to the County as shown on the Result of Survey. E. Each parcel owner is obligated to pay: (I) regular assessment for normal maintenance and repair and reserves, Association insurance and operating costs; (II) special assessments for capital improvements with such assessments to be established by the Association. The regular and any special assessments, late payment penalties and charges, if any, together with interest, (all as set by the Association) costs and reasonable attorney s fees, shall be a lien on the parcel. Each parcel owner shall be personally responsible for his or her share of assessments imposed by the Association. This personal obligation for delinquent assessments shall not pass to the owner s successor in title, unless expressly assumed by such successor; however, the obligation to pay same shall be a continuing lien on the Parcel, excepting for the provisions of paragraph 3 L below, relating to mortgagees. F. The Association shall, on an annual basis, make a determination as to the estimated costs of the repair and maintenance of the roadways, and any other designated common use areas as shown on the Plat of Survey or otherwise so designated, including any reserves necessary for future capital expenditures and maintenance. Assessments shall be charged to each owner on a uniform per Parcel basis, regardless of size as shown on the Plat of Survey and including any Divided Parcel. The assessments may be collected on a monthly, quarterly, or annual basis, or any combination of same as determined by the Association. G. Each owner shall be responsible to pay the regular assessment commencing on the first day of the month following the date of recordation of the deed or purchase contract wherein the owner acquired legal, beneficial, or equitable title to the Parcel. The Developer shall not be responsible for comparable assessments on each Parcel owned by

it. However, Developer shall be responsible to provide labor, material and/or monies in sufficient amounts, not to exceed the amount of the normal parcel assessment for each Parcel owned by it, if necessary in Developer s opinion, to properly fulfill the Association s maintenance responsibilities. Regular assessments shall be set by the Association on an annual calendar year basis. The initial regular assessment shall be Ninety Five Dollars ($95.00) per year per parcel whether a Result of Survey Parcel or a Divided Parcel. The parcel owner acquiring his or her interest from Developer during the calendar year shall be obligated for a pro rata portion thereof. The Association shall fix the amount of the regular assessment at least thirty (30) days prior of the beginning of the calendar year. Written notice of the assessment shall be sent to every owner. The payment due date shall be established by the Association. The Association shall not increase the regular assessment beyond ten percent (10%) per year unless approved by a majority vote of the Association membership. In the event an owner/buyer acquires multiple parcels, not to exceed three in number, he shall only be required to annually pay one regular assessment for the combined parcels. Upon the sale or transfer of one of the parcels so held the buyer of such parcel shall be required to pay the annual assessment for the parcel purchased and the owner/seller shall then be required to pay the annual assessment for the parcel or parcels retained. H. In addition to the regular assessment as set forth above, the Association may set special assessments if the Association determines by two-thirds ownership vote that such is necessary to meet the primary purposes of the Association. I. All sums assessed by the Association chargeable to a parcel, but unpaid, shall constitute a lien on such parcel prior to all other liens excepting only ad valorem liens in favor of a governmental assessing unit or special assessment district. The Association lien may be foreclosed by the Association in a like manner as a foreclosure of a real property deed of trust. The Association shall have the power to bid on the delinquent parcel at a foreclosure sale, and acquire, hold, lease, encumber and convey same. A suit to recover a money judgment for unpaid assessments and charges shall be maintainable by the Association without foreclosing or waiving the lien securing same. J. The total number of votes in the Association shall be on the basis on one (1) vote per parcel whether a Result of Survey Parcel or a Divided Parcel, provided, the Developer shall have ten (10) votes for each parcel it owns. The total number of Parcels and therefore the total number of votes may be increased from time to time by expansion, pursuant to paragraph 4, of the project as evidenced by a Supplemental Declaration, incorporating this Declaration, executed and recorded by Developer. Unless otherwise

specifically provided herein, all Association matters shall be determined by a majority vote. If more than one party is the owner of a parcel, there must be unanimous agreement among those who own an interest in the parcel as to how to cast that parcel s vote, otherwise, that vote shall not be counted. K. The Association shall have the power to adopt Bylaws and to appoint its officers and directors, as well as establish reasonable regulations relating to the matters within its purpose. L. Where the holder of a first mortgage of a record obtains title to the parcel as a result of foreclosure, or deed in lieu of foreclosure, of said first mortgage, such acquirer of title, its successors and assigns, shall not be liable for the share of the expenses of the assessments by the Association chargeable to such parcel which became due prior to the acquisition of title to such parcel by such acquirer. As use in this Declaration, the term mortgage shall include deed of trust and agreement for sale and mortgage shall include the Beneficiary under a deed of trust and vendor under an agreement for sale. Such acquirer shall be responsible, as any owner, for assessments charged subsequent to the acquisition. M. In the event the Association determines that any parcel owner has not complied with the provisions of this Declaration, the Association may, as its option, give written notice to the owner of the conditions complained of. The owner shall correct same or, if not readily correctable with thirty (30) days after notice from the Association, the owner shall submit corrective plans proposing its remedy to the condition complained of within fifteen days after notice from the Association. The Association shall approve or disapprove any plans submitted by the owner and set forth a reasonable time for correction of the condition complained of. In the event such condition is not corrected according to the approved plan, within the allotted time, the Association shall have the right to undertake to remedy such condition or violation complained of. The cost thereof shall be deemed to be an assessment to such owner and enforceable to by the Association as if any other unpaid assessment. The Association is hereby granted the right of entry on the affected parcel to so correct the condition or violation complained of. 4. Expansion. Developer reserves the right to comparable develop adjacent land and incorporate said adjacent land within this Declaration by specific reference thereto. Any such expansion to be included within this Declaration shall be subject to the terms and conditions of this Declaration, but may include reasonable variances. Upon any such expansion the added property shall be subject to all provisions of this Declaration. The

number of votes and assessments shall be increased upon incorporation of the additional Result of Survey (s). 5. Uses. No parcel shall be used except in accordance with the Subdivision rules and regulations of Hidalgo County, New Mexico, and the applicable laws of the state of New Mexico and in accordance with this declaration. 6. Restrictions on Placement of Improvements on a Parcel. No structures or improvements (other than acceptable fencing) shall be located upon a parcel within 150 feet of any Result of Survey Parcel (s) boundary or existing roadway as shown on the Result of Survey (s), except for a property entrance and address sign to identify the property and occupants, as set forth in paragraph 8 below, which must comply with applicable governmental regulations and may not be placed on an easement. Interior lines of Divided Parcels are not subject to this setback requirement. As to the commercial lots within the subdivision the setback shall be 100 feet instead of 150 feet. 7. Fences. No fence shall be placed within any ingress, egress, or trail easements. All fences are to be maintained by the parcel owner. 8. Signs. Signs (including, but not limited to For Sale or For Rent signs) are not permitted on the parcel, except for address signs that identify the address and/or the owner of the parcel, which signs will not exceed 4 sq. ft. Notwithstanding, four (4) years from the date of execution of these Restrictions For Sale or For Rent signs will be permitted so long as they are neatly painted and maintained and do not exceed 6 sq. ft. None of the sign restrictions in this Declaration apply to the Developer or his assigns or successors, for the purpose of selling the parcels; location, directional or street signs. As to the commercial lots said lots may exhibit resale signs, not to exceed 4 ft. by 8 ft. 9. Limitations on Resale, Divisions. The parcel within the Subdivision shall not be divided into smaller parcels for either sale or lease. This provision shall not apply to commercial lots. As to said commercial lots, the lot owners shall have the right to divide said lots in smaller parcels for the purpose of subleasing to various related businesses. 10. Trash. No parcel may be used for temporary or permanent storage of rubbish or trash (collectively, garbage). No garbage may be kept on any Parcel except in covered containers and screened from view from adjacent properties. 11. Junk Yards, Second-Hand Business, Material Storage. No Junk Yards or Second- Hand Businesses shall be conducted on any parcel. No storage of trucks, cars, buses,

equipment or building materials shall be stored on any Parcel unless enclosed in a proper structure to not be visible from an adjoining Parcel or passing on the roadway. Lot owners, however, shall be allowed to store lumber on their parcels provided said lot is kept clean and the lumber is stored in an orderly fashion. 12. Hazardous Materials. No hazardous or toxic materials may be kept, used or stored on any parcel. 13. Nuisances, Noxious or Offensive Activity. No nuisance or noxious or offensive activity shall be carried on upon or from any parcel. The unnecessary, prolonged or indiscriminate creation of such things as noise, dust, fumes or odors is prohibited, including but not limited to gunfire, road racing and loud music. 14. Sanitary Facilities. Toilets or other sanitary facilities shall be water-flush devices located within a residence. Waste water shall be discharged into a county or other appropriate governmental agency approved septic disposal system located on the parcel. 15. Livestock. No Swine shall be raised, bred or kept on any parcel. No poultry may be raised, bred or kept for commercial purposes on any parcel. A parcel may be used for ranching, including the use and keeping of a reasonable number of horses and cattle, provided the Parcel has been adequately fenced with a minimum five strand or better fence so as to prevent the movement of livestock from the Parcel. Under no circumstance shall a stockyard, dairy, or kennel be permitted on any parcel. 16. Motor Vehicles, Machinery & Equipment. No vehicle may be stored, maintained, or repaired on any Parcel except when done inside a shed, garage or screening so that it is not visible from other Parcels. Inoperable or unlicensed vehicles must be stored or parked inside a structure so as not to be visible from adjoining Parcels. Only licensed and operable vehicles shall be allowed on the Parcels within the Subdivision. All vehicles or motors must be operated with a muffler. All terrain vehicles, ATV s gocarts, motorcycles, minibikes, motorized scooters and the like may be operated only within the owner s Parcel and are not allowed on the roadway or easements unless they are licensed, driven by a licensed driver, and operated in a way which does not disturb or annoy the adjoining owners. 17. Parcel Maintenance. Each Parcel, including landscaping and improvements thereon must be maintained and kept clean at all times by the owner.

18. Mobile Homes and Manufactured Homes. No Mobile Homes will be permitted except as defined below. Doublewide manufactured homes will be permitted. No doublewide manufactured homes older than 10 years from the date of manufacture to the date of installation, or that otherwise do not comply with all rules and regulations as may be imposed by County and State jurisdictions for manufacturing and installation of electrical and sanitary facilities, will be permitted to be placed on a parcel. All Manufactured Homes must be set within an excavation in the ground so that the under frame of the home is not exposed. The property around the home shall be graded to cause the water to flow away from the home and the finished floor level shall be at least one foot above the general plane of the terrain. Singlewide or travel trailers will only be permitted as a temporary housing during construction of a residence, not to exceed a term of one year. 19. Travel Trailer, Recreational Vehicles. No travel trailer or recreational vehicles may be used as a permanent residence. One travel trailer or recreational vehicle may be used for temporary residential use only if the use extends for not more than six (6) consecutive months, nor more than a total of nine (9) months in any calendar year, with the exception that one year if the occupant has been issued a building permit by Hidalgo County and is diligently proceeding to construct a permanent residence upon the Parcel. 20. Land Clearing. There shall be no clearing of the vegetation on any parcel, except the extent necessary to accommodate access, parking areas, and improvements and all Parcel owners shall protect the natural and native shrubbery and no dump sites, landfills, or gravel pits shall be allowed within the Subdivision. 21. All items stored on the lot or lots shall be contained within a building acceptable to the majority of the lot owners. As to the commercial lots within the subdivisions, the lot owner may store merchandise and items of personal property related to their business on their commercial lots and need not store these items in a building provided they maintain their lots in a clean and orderly fashion. 22. Prior to locating the well or septic tank tile field, each lot owner shall inform himself of the location of any well and/or septic tank tile field of the adjoining lot. The distance between each well and septic tank or absorption field must be at least 200 feet. 23. No more than one principal single family residence shall be built per parcel. A guest house will be permitted along with outbuilding such as barns, storage buildings and garages. As to the commercial lots, commercial lot owners shall have the right to build a

single family residence on his commercial lot for occupancy by the lot owner or his employees. 24. The parcel owner shall have the right to keep and maintain dogs, cats, and other domestic animals provided they shall not be allowed to run freely in the Subdivision and shall be continued within the boundaries of the parcel. 25. Enforcement. The owner of any parcel and the Property Owners Association shall the right, but not the obligation, to enforce, by any proceeding at law or in equity, all covenants, conditions and restrictions, now or hereafter imposed by the provisions of the Declaration. Failure by any owner to enforce any covenant or restriction contained in this Declaration shall in no event be deemed a waiver of the right to do so thereafter. 26. Amendments. The Declaration may be amended at any time by an instrument which has been signed by not less than sixty-six and 2/3 s of the total land area comprising the Property; provided, however that so long as the Developer owns 6 or more Parcels, no amendment to this Declaration shall be effective unless signed by the Developer, its assigns or successors, which signature may be withheld at its sole discretion. Developer expressly reserves the right to grant any reasonable exceptions to the restrictions on a placement of improvements specified in paragraph 6. 27. Except as amended in accordance with this amended Declaration of Covenants, Conditions and Restrictions affecting Real Property to include Phases I & II, the original Declaration of Covenants, Conditions and Restrictions Affecting Real Property shall in all other respects remain in full force and effect. 28. Developer s Special Rights. In making this Declaration, the Developer reserves to itself and its successors and assigns the below powers and right ( Developer Rights ) so long as the Developer owns a Parcel: a. Amend the Result of Survey(s) and legal description of the Property and to withdraw or add additional real estate to the Property; b. Create easements; c. Divide Parcels; d. Exercise all expansion rights provided for in paragraph 4;

e. Maintain sales offices, management offices, models and signs advertising the Property and directing Prospects to the Property, conduct tours of the Property, and conduct any event or promotion desired by the Developer in its exclusive discretion to assist its sales activities; f. Grant any reasonable requests for waivers of any of the provisions of this Declaration, at its sole discretion.

IN WITNESS WHEREOF, the parties to these protective covenants have executed the same this 8 th day of April, 2003. (Signed) Edward N. Hall (Signed) Annabelle Hall HALL CATTLE COMPANY LTD. by (Signed) Edward N. Hall General Partner UNI-WESTERN REALTY, LTD. by (Signed) Ben C. Steele President STATE OF NEW MEXICO COUNTY OF HIDALGO The above and foregoing instrument was acknowledged before me by Edward N. Hall and Annabelle Hall, his wife, and Edward N. Hall for Hall Cattle Company Limited Partnership, a New Mexico Limited Partnership, and Ben Steele as President of Uni- Western Realty, Ltd., a corporation, for and on behalf of the corporation. (Signed) Notary Public Karen Norrick I hereby certify that this instrument was filed for record at 9:01 o clock AM on 4-30-03 Duly Recorded in Book 38 of the records of Misc. Page(s) 6771-6779. Witness my hand and seal of office (Signed) Belinda Chavez COUNTY CLERK/HIDALGO CO., N.M. (Signed) G Vargez Deputy.