DECLARATION OF RESTRICTIONS

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					                           DECLARATION OF RESTRICTIONS
                          BIG HORSE CREEK RANCH OWNERS

NORTH CAROLINA
ASHE COUNTY

LaMontagne Realty & Investment Co., as the Owner of the property that is described in the plat
that is recorded in register of Deeds Book 6 at Page 477 of the Ashe County, North Carolina
Registry, which property comprises Big Horse Creek Ranch, divided into Tracts as referenced
below, does hereby impose upon all of the Tracts the following restrictive covenants as equitable
servitudes enforceable by and against the Owners of each named Tract referenced below:

1. “OWNER” DEFINED: Any party or parties individually or collectively comprising the
deeded ownership of a Tract of land in Big Horse Creek Ranch, but not including any party
merely holding a deed of trust or other collateral interest secured by any such Tract, shall be
jointly or individually referred to herein as “Owner”.

2. “TRACTS” DEFINED: There are nine (9) tracts (the “Tracts”) within Big Horse Creek
Ranch that are subject to this Declaration of Restrictions: Tracts 1, 2, 2A, 3, 3A, 4, 4A, 5, and 5A
Tract 1A of Big Horse Creek Ranch is not subject to this Declaration. The initial Owner of
these Tracts is LaMontagne Realty & Investment Co, a Florida corporation authorized to do
business in North Carolina, which shall be considered an Owner for purposes of this Declaration.
No Tract, as defined in this Declaration and as shown on the plat Of Big Horse Creek Ranch
recorded or to be recorded in the Ashe County Register of Deeds, shall be further subdivided
without the approval of both LaMontagne Realty & Investment Co. and the Ashe County
Department of Planning & Inspections. Tracts shall be used for single-family residential
purposes only, and no duplexes, apartment buildings, or commercial structures shall be built,
installed, or maintained on any Tract. No commercial signs shall be allowed, only for sale or for
rent signs. No windmills, CB radio towers or cell towers will be allowed on any tract.

3. REGULAR MAINTENANCE: All Tract Owners shall share equally per Tract in the costs
of maintenance of the Railroad Road, Red Roan Road and Riding Ridge Road within Big Horse
Creek Ranch. “Regular Maintenance” shall include, but not be limited to, maintaining the gravel
surface of the Roads, scraping the roadbed and adding gravel when needed, maintaining the
ditches, maintaining the cut-and-filled sides of the road, maintaining the landscaping at the sign,
mowing the road shoulders and adjacent areas within the rights-of-way, and maintaining,
repairing or replacing the bridge over Big Horse Creek. At closing, each owner is hereby
accepting the roadways in their as is condition.

4. SNOW REMOVAL: Snow removal shall be paid for by only the owners of those tracts that
have homes under construction or completed, that require snow removal. Snow removal shall be
contracted out and paid for separately and split equally by the affected tract owners.

5. COLLECTION OF FEES: Each owner shall contribute at closing an initial TWO
HUNDRED DOLLARS ($200.00) per tract to an account to be set up by LaMontagne Realty &
Investment Co. in the name of “Big Horse Creek Ranch Property Owners” to start a fund for the
regular maintenance items as described above. From this point forward there is no pre-set annual
fee for the above-described maintenance. LaMontagne Realty & Investment Co. shall be the
custodian of this account and shall oversee the maintenance items until such time as 5 tracts are
sold. At that time, the account and responsibilities shall be turned over to the owners.

        Regular maintenance described above shall not require a vote, but shall be done as
needed. However, an affirmative vote by the Owners of a majority of the Tracts, with one (1)
vote allocated to each Tract, is needed to make any binding decision of the Owners to undertake
or incur any extraordinary expense, not outlined in the regular maintenance above. The Owners
shall convene a meeting at least annually, to be conducted in person, by teleconference, by email,
and/or by proxy to determine what maintenance to undertake, Initially LaMontagne Realty &
Investment Co. shall initiate these meetings until such time as at least 5 tracts are sold, at which
time it will be turned over to the owners. Each Owner shall pay in full his or her equal share per
Tract of approved maintenance costs within thirty (30) days following receipt of the notice of
approved maintenance costs in person, by fax or email, or by regular or certified mail at that
Owners’ permanent address as listed in Ashe County for property taxes. Once 5 tracts are sold,
the foregoing provisions shall be carried out by an informal association of the owners of the
tracts.
6. PERMITTED IMPROVEMENTS: No mobile homes of any type or size may be installed,
stored, or maintained on any Tract. Modular homes may be placed on a Tract subject to the prior
written approval of LaMontagne Realty & Investment Co. Homes must contain at least one
thousand five hundred fifty (1550) square feet of heated floor space exclusive of garages, attics
or porches. If the house is a two or more story dwelling, it shall have a minimum of One
Thousand Two Hundred (1,200) square feet of heated floor space on the first floor. Each Tract
may contain both a single main residence and a separate guest house, both of which shall be
architecturally compatible and shall feature exterior surfaces covered by wood (genuine or
cement-based siding material simulating the look of wood grain such as Hardy-Board), stone
(natural or cultured), or in the case of concrete or cinder block foundation walls, stucco or stone,
or log homes. Any horse barn constructed or installed on any Tract shall be located at least fifty
feet from any side or back boundaries of the subject Tract. All residences and guest cottages
shall be located at least fifty feet (50’) from any boundary of the subject Tract. Any masonry
retaining walls, whether or not part of the dwelling unit, shall have their exterior exposed
surfaces faced with stucco, brick, treated logs, natural or cultured stone Homes must be
completed within twenty four (24) months from the commencement of their construction. Any
driveways that are built to access the home sites must have a culvert installed at the Owner’s
expense on the ditch side of the road. Any damage done to the road or gravel surface during
construction, or at other times by the owner or its contractors, must be fixed by the owner or
contractor doing the work at their expense. Owners shall be responsible for a plan to control
erosion during construction. Any land that is disturbed must be subsequently hydro seeded or
replanted with grass when complete. There are no restrictions on Owners’ renting of homes. No
tract shall be logged in its entirety or clear cut. However, an owner may clear out any trees
necessary for their home site views and yards.

7. RIGHTS OF WAY: Each Owner shall enjoy the right of access over and along all roads in
Big Horse Creek Ranch. No owner shall block or in any other way obstruct access along any of
the Subdivision roadways. Tract 2A shall have the right to place a gate at both ends of their
property along Railroad Road. These gates shall be wood or wrought iron and shall have at least
a fourteen-feet-wide (14’) opening. These gates are to be kept unlocked at all times. All owners
shall use as their regular entrance to Big Horse Creek Ranch the bridge access. The Railroad
Road access shall be reserved for emergencies in the event of a flood or for any equipment or
building materials that can not make a safe turn over the bridge.

8. FENCING: Each owner shall have the right to fence their properties. No chain link or barb
wire fencing shall be allowed. Allowed materials shall include split rail, wood, wrought iron,
pvc-type fencing, or synthetic materials that look like the above.

9. TRACT MAINTENANCE: Each owner shall be required to keep their property well
maintained in appearance at all times. Tracts 2A and 3A shall keep the pastures along the rivers
mowed on a regular basis. No unlicensed, unregistered, junked or non-roadworthy vehicles shall
be parked or allowed to remain on any Tract. Any boats, equipment or trailers shall be hidden
from view of the roads.

10. WELLS AND SEPTIC: Each owner shall be responsible for drilling and maintaining a
private well on his or her Tract to supply water for residential purposes, unless a spring that is
headed up on their tract is sufficient to provide water to the home. The adequacy of neither
water nor septic capacity is guaranteed by Seller, so prospective Buyers are hereby given notice
of their opportunity, once the Owners hold a contract for purchase of a Tract, to research and
inspect the property for potential water before purchasing and/or to obtain a septic percolation
inspection and approval for their proposed septic system. All sewage shall be disposed of in a
private septic tank and drain field system of a size, location and standard meeting all
requirements of North Carolina law and approved by the applicable Health Department
authorities.

11. ELECTRIC AND TELEPHONE UTILITIES: Each owner is responsible to arrange and pay
for electric power and telephone service to be brought to his or her home site. Above-ground
electric transmission lines brought directly from the S. Big Horse Creek Road to the home site
shall be allowed for any house site that is on tracts 2A, 3A, 4A and 5A. The location of any
transmission line extending to Tracts 1, 2, 3, 4 and 5 shall be subject to approval by LaMontagne
Realty & Investment Co., which reserves easement rights over all Tracts to facilitate power,
telephone, and other residential utility service to each Tract. Underground electric lines may be
required on Tracts 1, 2, 3, 4 and 5. Any overhead transmission lines approved for installation
going to Tracts 1, 2, 3, 4 and 5 shall be installed along and within the appropriate Tract’s
property lines or roadways.

12. ANIMALS: The owners of any Tract may maintain, for personal use (but not for
commercial boarding or riding operations), a maximum of one (1) horse per one (1) acres of
grazeable land. No other animals or fowl, except for household pets (dogs, cats, fish or birds
only) shall be allowed to be maintained on any Tract.

13. In the event of a violation or breach of any of the above by a property owner, the owners of
the remaining lots either jointly or severally, shall have the right to proceed at law or in equity to
compel the compliance of the breaching lot owner.


IN WITNESS WHEREOF, LaMontagne Realty & Investment Company, as the initial Owner of
the above-named Tracts, hereby subjects them to all of the provisions of this Declaration, whose
covenants shall be permanent restrictions running with the land and binding upon all Owners, as
defined herein, and their heirs, successors and assigns until December 31, 2027, when they shall
be renewed for successive periods of ten (10) years each unless the owners of a two-thirds
majority of the Tracts vote at any time, on a one-vote per lot basis, to amend this Declaration.

This the _ day of __________, 2007.

                                               OWNER:

                                               LaMontagne Realty & Investment Co.

                                             By:____________________________
                                                 Brad T. LaMontagne, President

STATE OF NORTH CAROLINA
COUNTY OF ASHE

I certify that the following person(s) personally appeared before me this day, each
acknowledging to me that he or she voluntarily signed the foregoing document for the purpose
stated therein and in the capacity indicated: Brad T. LaMontagne, President of LaMontagne
Realty and Investment Co., a Florida Corporation


Date:______________________ Official Signature of Notary Public:____________________

                   Notary’s Printed/Typed Name:_____________________________________

My Commission Expires:_____________________

(AFFIX SEAL)

				
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