Home Owners Association

4.01 A separate corporation, called Timberidge Homeowners Association (sometimes hereinafter referred to as "Homeowners Association") will be formed by the undersigned.

4.02 The Homeowners Association will adopt these restrictive covenants by appropriate resolution of it's authorized board.  Appropriate board action will be taken to subject the Homeowners Association Co the control and direction of lot owners at the earlier of the resignation of all initial board members or the purchase of Seventy percent (.707.) of all Real Estate lots.

4.03 Each lot purchaser, their successor or assigns, will be subject to a five dollar ($5) per lot, per month Homeowners Association fee, as well as a fifty dollar ($50), per lot, initial Homeowners Association lot purchase fee.

4.04 Each lot purchaser, their successor or assigns, will within the first planting season after purchase of a lot, install a yard with at least five shrubs, three trees, and a front and back yard lawn.

4.05 Each lot purchaser, their successor, or assigns will maintain the lot yard in a manner not detracting from the Real Estate beauty. The Homeowner's Association may by means of advance written notice to the lot purchaser, their successor or assigns, determine if such maintenance is inadequate and require corrective care. Such corrective care shall be performed within fourteen (1A) days of the earlier of cither the date certified mail is sent, or hand-delivery is achieved, of written notice requiring corrective care.

4.06 If the structure is not timely completed as described in paragraph 1.18, or if the planting and installation is not timely performed as described in paragraph 4.04, or if the corrective yard care is not performed as required under paragraph 4.05 (collectively sometimes hereinafter referred to as "Failures"), then, in each and every case the Homeowners Association, it's officers, employees, agents, or those in privity of contract with it to perform services to correct such Failures, shall each and every one be authorized to enter upon the lot premises to perform such work necessary to comply with the requirements and standards set forth in paragraphs 1.18, 4.04, and 4.05.

4.07 Upon five days advance written notice Co the lot owner, successor or assigns, the Homeowners Association may perform-itself, or contract to have performed necessary work to correct any Failure, and may then bill the lot purchaser, successor, or assign for the cost of such work performed, including a reasonable charge for its own time and effort. Once billed, such amounts shall be due and owing the Homeowners Association.

4.08 If the penalty described in paragraph 1.18, if the fees described in paragraph 4.03, or if the amounts due and owing under paragraph 4.07 are not paid within thirty.(30) days, the Homeowners Association is hereby granted authority to place a lien upon the Real Estate lot(s) (together with such structures and improvements as may thereon exist) of such lot purchaser, successor, or assigns.