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STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER FOR REGISTRATION REGISTER OF DEEDS REBECCA T CHRISTIAN NEW HANOVER COUNTY, NC 2001 MAR 08 02 33 07 PM BK 2893 PG 1986-1989 FEE $12.00 INSTRUMENT # 2001008536 DECLARATION OF COVENANTS CONDITIONS AND RESTRICTIONS FOR OLD OAK PLACE This Declaration, made the 15th day of February, 2001, by OLD OAK, LLC, A NORTH CAROLINA LIMITED LIABILITY COMPANY, hereinafter referred to as "Declarant" or "Developer" for the purposes hereinafter stated, WITNESSETH: Whereas, Declarant is the owner of certain real property in Wilmington, New Hanover County, North Carolina, known as "OLD OAK PLACE” which is shown on a plat recorded in the Office of the Register of Deeds of New Hanover County, North Carolina, in Map Book 40 Page 89 to which reference is made for a more particular description (the "Property") NOW, THEREFORE, Declarant declares that the Property described above shall be held, sold and conveyed subject to the following easements, restrictions, covenants, and conditions, which are for the purpose of protecting the value and desirability of, and which shall run with the land and be binding on and shall insure to the benefit of all parties having any right, title or interest in the Property or any part thereof, their heirs, successors and assigns ARTICLE 1 DEFINITIONS SECTION 1 Additional Property shall mean and refer to any lands which are now owned or may be hereafter acquired or developed by Declarant, in addition to the above described Property, and annexed to and made a part of the Development (as hereinafter defined) pursuant to the provisions of this Declaration SECTION 2 Association shall mean and refer to Old Oak Place Homeowners Association, Inc, a North Carolina

art of the Development (as hereinafter defined) pursuant to the provisions of this Declaration SECTION 2 Association shall mean and refer to Old Oak Place Homeowners Association, Inc, a North Carolina non-profit corporation, its successors and assigns, the owners association organized for the purposes set forth herein SECTION 3 Assessments shall mean the Annual, Special, Insurance, Ad Valorem and Working Capital Assessments provided for in this Declaration SECTION 4 Common Area(s) shall mean and refer to all lands and easements within or appurtenant to the Development intended for the common use and enjoyment of the Owners, including, without limitation, any private roads and storm water retention ponds within the Development SECTION 5 Declarant shall be used interchangeably with Developer (which designations shall include singular, plural, masculine and neuter as required by the context) and shall mean and refer to Old Oak, LLC, a North Carolina Limited Liability Company their successors and assigns, if such successors or assigns should acquire undeveloped property from the Declarant for the purpose of development SECTION 6 Declaration shall mean this instrument as it may be from time to time amended or supplemented SECTION 7 Development shall mean the Property plus any Additional Property SECTION 8 Limited Common Area(s) shall mean areas and facilities within any Lot which are for the exclusive use of the Lot Owner but which the Association is obligated to maintain pursuant to the terms of this Declaration The Limited Common Areas shall consist of (a) the exterior of all dwellings, including by way of illustration, but not limited to, roofs, exterior building surfaces, decks and porches, gutters and downspouts, (b) yards and other RETURNED TO Jeannette Woodruff

of all dwellings, including by way of illustration, but not limited to, roofs, exterior building surfaces, decks and porches, gutters and downspouts, (b) yards and other RETURNED TO Jeannette Woodruff PO Box 15242 Wilmington, NC 28408 improvements, including by way of illustration, but not limited to travelways, walkways, leaves, shrubs, grass and any privacy fences SECTION 9 Lots(s) shall mean and refer to any numbered lot within the Development, together with the dwelling situated thereon SECTION 10 Owner shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any Lot, including contract sellers, but excluding those having such interest merely as security for the performance of an obligation SECTION 11 Property shall mean the Property as defined in the preamble to this Declaration SECTION 12 Member(s) shall mean and refer to every person or entity who has a Membership in the Association SECTION 13 Membership shall mean and refer to the rights, privileges, benefits, duties and obligations, which shall inure to the benefit of and burden each Member of the Association ARTICLE II HOMEOWNERS' ASSOCIATION SECTION 1 Formation of Association The Association is to be a nonprofit corporation organized pursuant to the Nonprofit Corporation Act of the State of North Carolina for the purpose of establishing an association for the Owners of Lots to own, operate and maintain the Common Areas and any Limited Common Areas in accordance with this Declaration, its Charter and Bylaws Association should be formed upon sale of first home to someone other than Developer, Old Oak, LLC SECTION 2 Membership Every Lot Owner shall be a Member of the Association Membership shall be appurtenant to and may not be separated from Lot ownership

e to someone other than Developer, Old Oak, LLC SECTION 2 Membership Every Lot Owner shall be a Member of the Association Membership shall be appurtenant to and may not be separated from Lot ownership SECTION 3 Voting Rights Every Lot Owner has one vote ARTICLE III USE RESTRICTIONS AND MAINTENANCE SECTION 1 Approval of Plans for Building and Site Improvements No dwelling, wall or other structure shall be commenced, erected, or maintained upon any Lot, nor shall an exterior addition to or change in or alteration therein be made until the plans and specifications showing the nature, kind, shape, heights, materials, colors and location of the same shall have been submitted to and approved in writing as to harmony of external design and location in relation to surrounding structures by the Declarant, or its designee ARTICLE IV GENERAL PROVISIONS SECTION 1 Enforcement of Storm Water Runoff Regulations The following covenants are intended to ensure ongoing compliance with State Stormwater Management Permit Number SW8001204, as issued by the Division of Water Quality under NCAC 2H.1000 The State of North Carolina is made a beneficiary of these covenants to the extent necessary to maintain compliance with the stormwater management permit These covenants are toturn with the land and be binding on all persons and parties claiming under them The covenants pertaining to stormwater may not be altered or rescinded without the express written consent of the State of North Carolina, Division of Water Quality Alteration of the drainage as shown on the approved plan may not take place without the concurrence of the State SECTION 2 "Built-upon" Surface Restrictions The maximum allowable built-upon are per lot is 2750 square

e drainage as shown on the approved plan may not take place without the concurrence of the State SECTION 2 "Built-upon" Surface Restrictions The maximum allowable built-upon are per lot is 2750 square feet This allotted amount includes any built-upon are constructed with the lot property boundaries, and that portion of the right-of-way between the front lot line and the edge of the pavement Built upon area includes, but is not limited to, structures, asphalt, concrete, gravel, brick, stone, slate, coquina and parking areas, but does not include raised, open wood decking, or the water surface of swimming pools All runoff from the built-upon areas on the lot must drain into permitted system This may be accomplished through providing roof drain gutters which drain to the street, grading the lot to drain toward the street, or grading perimeter swales and directing them into the pond or street Lots that will naturally drain into the system are not required for these measures SECTION 3 Amendment of Declaration Declarant may amend this Declaration at Declarant's sole discretion for a period of two (2) years from the date of recording of this Declaration Thereafter, except as provided elsewhere herein, the covenants and restrictions of this Declaration may be amended only by an instrument duly recorded in the Office of the Register of Deeds of the county where the Development is located, executed by the duly authorized officers of the Association upon the vote of not less than two-thirds of the Lot Owners, provided that no amendment shall alter any obligation to pay ad valorem taxes or assessments for public improvements, as herein provided, or affect any lien for the payment thereof established herein In no event may the Declaration be

lter any obligation to pay ad valorem taxes or assessments for public improvements, as herein provided, or affect any lien for the payment thereof established herein In no event may the Declaration be amended so as to deprive the Declarant of any rights herein granted or reserved unto Declarant IN WITNESS WHEREOF, the parties hereto, have caused this Declaration to be executed in their corporate name and the corporate seal affixed by its duly authorized members as of the day and year first above written OLD OAK, LLC By Amo James By What James W Hatcher, Member/Manager Johnny A Ivey, Member/Manager (SEAL) (SEAL) STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, WE GRAY a Notary Public of the County and State aforesaid, certify that JAMES W HATCHER, and JOHHNY A IVEY, personally appeared before me this day and acknowledged that they are Members/Managers of Old Oak, LLC, a North Carolina Limited Liability Company, and they further acknowledge that they signed this instrument in their capacity as Member/Manager of Old Oak, LLC and that they are duly authorized to so act for and on behalf of said Company Witness my hand and official stamp or seal, this 8th day of Marcit 2001 Wem My commission expires 8-24-2003 W E GRAY NOTARY PU3110 EW HANOVE CONC Notary Public NEW HANOVER COUNTY STATE OF NORTH CAROLINA REBECCAT CHRISTIAN REGISTER OF DEEDS, NEW HANOVER JUDICIAL BUILDING 316 PRINCESS STREET WILMINGTON, NC 28401 Filed For Registration: Book Document No ⚫ RE 2893 Page 1986-1989 2001008536 DECL 4 PGS $12.00 Recorder* DIANE N. MORGAN

M RE 2893 Page 1986-1989 2001008536 DECL 4 PGS $12.00 Recorder* DIANE N. MORGAN State of North Carolina, County of New Hanover The foregoing certificate of WE GRAY Notary is certified to be correct. This 8TH of March 2001 REBECCA T. CHRISTIAN, REGISTER OF DEEDS By: Morgan Deputy/Assistant Register of Deeds 2001008536 د