JOYCE M. SWICEGOOD
REGISTER OF DEEDS
PENDER COUNTY
NORTH CAROLINA

STATE OF NORTH CAROLINA
COUNTY OF PENDER

DECLARATION OF RESTRICTIVE COVENANTS
OLDE POINT DEVELOPMENT

KNOW ALL MEN BY THESE PRESENTS:

That Olde Point Associates Limited Partnership, a Delaware Limited Partnership, with an office in Topsail. Township, Pender County, North Carolina, being the owner and developer of the property hereinafter referred to as OLDE POINT ESTATES, in order to provide for a uniform development of said property so as to preserve its value and to protect the present and future owners thereof does hereby declare, for itself, its successors and assigns, that the following restrictions and covenants shall apply to OLDE POINT ESTATES, Topsail Township, Pender County, North Carolina.

1. Definitions.

As used in this Declaration of Restrictive Covenants, the following terms shall mean:

(a) "OPALP" means Olde Point Associates Limited Partnership, the Owner and Developer, and its successors and assigns.

(b) "Developer" is used interchangeably with the term "OPALP" to refer to Olde Point Associates Limited Partnership, the Owner and Developer, its successors and assigns.

(c) "Record and Recording" refers to record or recording with the Register of Deeds for Pender County, North Carolina. 

(d) "Subdivision" means the portion of the property which has been or is to be subdivided into residential lots.

(p) "Property" generally means the lands known as OLDE POINT ESTATES, Pender County, North Carolina, and as shown on plat recorded in Map Book 24 at Page 116 of the Pender County Registry, North Carolina.

(f) "Residential Lots" or "lots" means those portions of the. property specifically allocated, platted and/or recorded, or to be platted and recorded as lots for sale and/or used as single family residences. In the event any lot as shown on plat recorded in Map Book 24 at Paae 116 of the Pender County Registry is subdivided then each subdivided portion of the original lot shall be within the meaning of "Residential Lots" or "Lots".

(h) "Architectural Control Committee" shall mean the committee established by these covenants to review all building plans, plot plans, site improvements plans, and to approve or disapprove the same in accordance with the restrictions herein set forth and to perform such other duties as may be delegated or authorized herein. Said Committee shall be composed of at least five (5) members, no more than one of which shall be elected by the Developer, and at least four of which shall be elected by the owners of record of a majority of the lots in the subdivision, other than the lots owned by the Developer. A majority of the Committee may designate a representative to act for it. In the event of the death or resignation of any member of this Committee, the remaining members shall have full, authority to designate a successor. Neither the members of the Committee, nor its designated representative shall be entitled to any compensation for services performed pursuant to these covenants. At any time, the then record owners of a majority of the lots other than the Developer shall have, the power through a duly recorded written instrument to change the membership of the Committee. or to withdraw from the Committee or restore to it any of its powers and duties.

Provided, however, that OPALP shall be and remain the designated representative of the Architectural Control Committee until March 1, 1994 at which time OPALP shall turn over control to the Architectural Control Committee composed of five members as herein above referred to.

(i) "Association" shall mean and refer to OLDE POINT ESTATES HOMEOWNERS ASSOCIATION, an unincorporated association, consisting of all of the property owners in OLDE POINT ESTATES; provided, however, if the owners or their successors in interest, shall incorporate the association as a non-profit corporation under North Carolina General Statutes, Chapter 55A, all references in the Declaration to OLDE POINT ESTATES HOMEOWNERS ASSOCIATION shall be deemed to refer to OLDE POINT ESTATES, HOA, INC.

(j) "Common Area" shall mean and refer to all real property owned by the Association for the common use and enjoyment )f the owners.

2 . These restrictions shall apply to all residential lots sold by OPALP in OLDE POINT ESTATES.

3 . Reservations

Olde Point Associates Limited Partnership, reserves unto itself, its successors and assigns, a perpetual, alienable and releasable easement and right on, over and under the ground to erect, maintain and use electric and telephone poles, wires, cables, conduits, sewers, water mains and other suitable equipment for the purpose of providing electricity, telephones, gas, sewer, water or other public conveniences or utilities to the lot owners. Such rights may be exercised by any licensee of the corporation, but this reservation shall not be considered an obligation of the corporation to provide or maintain any such utility or service.

4 . Building and Site improvements

No dwelling, building, fence, wall, or other structure shall be erected , placed or altered on any residential lot, nor shall the grade or elevation or physical characteristics of any lot, or portion thereof be altered in any way whatsoever, until the proposed building plans, specifications, exterior colors and finishes, site and grading plans (showing the proposed location of such building or structure, drives, parking areas and proposed alterations to the grade, elevation or physical characteristics of the site) and the construction schedule have been approved in writing by the Developer, or its designee, or by the Architectural Control Committee. In the event the Developer, or its designee, or, if applicable, the Architectural Control Committee, fails to approve or disapprove such design and location within thirty ( 30 ) days after said plans and specifications have been submitted to it, approval will not be required and this Section will be deemed to have been fully complied with. Refusal of approval of any such plans, location or specification may be based by the Developer or the Architectural Control Committee, as the case may be, upon any ground, including purely aesthetic and environ mental considerations, that in the sole and uncontrolled discretion of the Developer or the Architectural Control Committee , as the case may be, shall seem sufficient. Without prior written consent of the Developer or the Architectural Control Committee , as the case may be, no changes or deviations in or from such plans or specifications as approved shall be made. One (1) copy of all plans and related data shall be furnished to the Developer or the Architectural Control Committee, for its records. The Developer or the Architectural Control Committee shall not dp responsible for any structural defects or other defects in plans or specifications submitted to it or in any structure erected according to such plans and specifications.

5. Approval of Plans

(a) No house plans will be approved unless the proposed house shall have a minimum of 1800 square feet of enclosed dwelling area. The term "enclosed dwelling area" as used in the minimum requirements shall be the total enclosed area within a dwelling; provided however, that such term does not include garages, terraces, decks, open porches, and like areas; provided, further, that shed type porches, even though attached to the house are specifically excluded from the definition of the aforesaid term "enclosed dwelling area."

(b) Since the establishment of inflexible building setback lines for location of houses on lots tends to force construction of houses directly to the side of other homes with detrimental effects on privacy, view, preservation of important trees and other vegetation, ecological and related considerations, no specific setback lines are established by these Restrictions. In order to assure, however, that the foregoing considerations are given maximal effect, the site and location of any house or dwelling or other structure upon any lot shall be controlled by and must be approved absolutely by the Developer or the Architectural Control Committee, as the case may be.

(c) The exterior of all houses and other structures must be completed within twelve (12) months after the construction of same shall have commenced, except where such completion is impossible or would result in great hardship to the owner or builder, due to strikes, fires, national emergency or natural calamities.

(d) No structure, except as hereinafter provided, shall be erected, altered, placed or permitted to remain on any lot other than a single family dwelling not to exceed two (2} stories in height, unless the Developer or the Architectural Control Committee, as the case may be, approves in writing a structure of more than two (2) stories pursuant to Paragraphs 4 and 5(a) hereof, and one (1) or more small accessory buildings (which may include a detached private garage, servants quarters, or guest facilities) provided the use of such dwelling or accessory building does not in the opinion of the Developer or the Architectural Control Committee, as the case may be, overcrowd the site, and provided further, that such buildings are not used for any activity normally conducted as a business. Such accessory building may not be constructed prior to the construction of the main building.

(e) All service utilities, fuel tanks, clothes lines, wood piles and trash and garbage accumulations are to be enclosed within a fence, wall, or plant screen of a type and size approved by the Developer or the Architectural Control Committee, as the case may be, so as to preclude the same from causing an unsightly view from any highway, street, or any way within the subdivison or from any other residence within the subdivision.

(f) Off street parking for not less than two (2) passenger automobiles must be provided on each lot prior to the occupancy o.r any dwelling constructed on said lot, which parking areas and the driveways thereto shall be constructed of concrete, brick, asphalt, oyster yiif-'LL1-: or" crushed stone.

6. Built upon Areas

Exhibit A which is attached hereto and incorporated herein by reference sets forth the maximum area of any lot which shall be covered by structures and/or paved surfaces, including walkways or patios of brick, stone, slate or similar mat-trials. This covenant is intended to insure continued compliance with storm water runoff rules adopted by the State of North Carolina and therefore benefits may be enforced by the State of North Carolina. The built upon area for each lot shall not exceed maximum square feet as set forth on the attached Exhibit A unless and until, the State of North Carolina shall revise its storm water runoff regulations to permit a greater built upon area for each lot.

In the event any of the 33 lots described on the attached Exhibit A are hereafter subdivided pursuant to the provisions of Paragraph 12 as hereinafter stated, then the built upon area of each portion of such subdivided lots shall be determined by the following equation:

Maximum area for each portion of a subdivided lot that may be covered by impervious surface = Maximum area of original whole lot that may be covered by impervious surfaces multiplied by the total numbers of square feet of the subdivided portion of the whole lot and divided by the total number of square feet of the original whole lot.

EXAMPLE: If Lot 1 is subdivided into two lots: Lot 1-A containing 63,000.00 square feet and Lot 1-B containing 85,444 square feet, then the maximum area that may be covered by impervious surfaces for Lot 1-A is 15,750 square feet and for Lot 1-B is 22,361 square feet, figured as follows:

Lot 1-A:      37,111 X  63,000 = 15,750
                           148,444

          Lot 1-B:      37,111  X  85,444 = 21,361
                                     148, 444

7. Residential Use

(a ) All lots shall be used for residential purposes exclusively. No Home business or occupation shall be permitted. 

(b) No trailer, tent or other structure of temporary character shall be placed upon any lot at any time, provided however that the prohibition shall not apply to shelters used by the contractor during the construction of the main dwelling house, it being clearly understood that these latter temporary shelters may not, at any time, be used as residences or permitted to remain on the lot after completion of the construction. This restriction will not apply to boat trailers or to travel trailers if approved by the Architectural Control Committee.

8 . Maintenance

(a) It shall be the responsibility of each lot owner to prevent the development of: any unclean, unsightly, or unkempt condition of buildings or grounds on such lot which would tend to substantially decrease the beauty of the neighborhood as a whole or the specific area .

(b) No noxious or offensive tradf1 shall be carried on upon any lot, nor shall anything be done thereon tending to cause embarrassment, discomfort, annoyance, or nuisance to the neighborhood. There shall not be maintained any plants or animals, nor device or thing of any sort whose normal activities or existence are in any way noxious, dangerous, unsightly, unpleasant or other nature as may diminish or destroy the enjoyment of other property in the neighborhood by the owners thereof.

9. Violations

In the event that any lot owner shall fail or refuse to keep such premises free from weeds, underbrush, or refuse piles, or unsightly growth or objects, then the Architectural Control Committee comprised of lot owners shall designate someone to enter upon such lands and remove the same at the expense of the owner, and such entrance shall not be deemed a trespass, and in the event of such removal a lien shall arise and be created in favor of the Architectural Control Committee for the full amounts of the cost thereof chargeable to such lot, including collection costs and such amount shall be due and payable within thirty ( 30 ) days after the owner is billed therefore. Such lien shall be enforceable by Court proceedings as provided by law for enforcement of liens.

No horses, cattle, swine, or other livestock, or poultry or animals of any kind shall be raised, boarded or kept on any lot except that dogs, cats, or any household pets may be kept provided that they are not kept, boarded or maintained for any commercial purpose.

11. Signs

No sign or billboard of any description shall be displayed on any lot, other than private name plates or signs for identification of residents of not more than two (2) square feet, and signs advertising the property "FOR RENT" or "FOR SALE" of not more than five (5) square feet.

12. Subdividing

No Lot shall be subdivided or its boundary lines changed so that the resulting Lot or Lots would contain an area of less than 1.32 acres each. The Developer retains the right to resubdivide or alter existing boundary lines on Lots owned by it provided, however, no Lot or Lots so created shall contain an area of less than 1.32 acres each. The built upon area of each portion of such subdivided Lot or Lots shall be determined and controlled by the provisions of Paragraph 6 hereinabove.

The Developer does not guarantee and makes no warranty that any portion o£ such subdivided Lot or Lots will be approved by the Pender County Health Department for the installation of conventional waste water disposal systems on the subdivided portions of the original 33 Lots.

13. Outside Antennas

No outside radio or television antennas shall be erected on any lot unless and until permission for the same has been granted by the Board of Directors of the Association or its Architectural Control Committee.

14. Exterior Lights

All light bulbs or other lights installed in any fixture located on the exterior of any building or any lot shall be clear, white or non-frost lights or bulbs.

15. Junk Vehicles and Tractor-Trailers

No inoperable vehicle or vehicle without current registration and insurance, and no tractor-trailers will be permitted on the premises. The Association shall have the right to have all such vehicles towed away at the owner's expense.

16. Enforcement

(a) In the event of a violation or breach of any of the. restrictions by any lot owner, or agent of: such owner, OPALP or the owner of any lot in OLDE POINT ESTATES, or any of them jointly or severally, shall have the right to proceed at law or equity to compel a compliance with the terms hereof, or to prevent the violation or breach. In addition to the foregoing, OPALP shall have the right, whenever there shall have been built on any lot any structure which is in violation of these restrictions, to enter upon such property where such violations exists, and summarily abate or remove the same at the expense of the owner if after thirty (30) days written notice of such violation which shall not have been corrected by the owner. Any such entry and abatement or removal shall not be deemed a trespass. The failure to enforce any right, reservation, restriction, or condition herein-contained, however long continued, shall not be. deemed a waiver of the right to do so thereafter as to the same breach, or as to a breach occurring prior or subsequent thereto, and shall not bar or effect its enforcement.

(b) The State of North Carolina is hereby made a beneficiary of this Declaration to the extent necessary to enforce its stormwater runoff regulations as the same may be amended from time to time.

17. Easements of Access and Open Space

(a) Each and every lot owner is hereby granted an easement to pass over, use and enjoy open spaces now or subsequently designated on recorded plats as community open space, and all roads, bridges, and rights-of-way, provided, however, that OPALP, its successors and assigns, shall retain the right to establish rules, or regulations for the use and enjoyment of all such property.

(b) The Developer reserves the right to erect and maintain utilities, drainways and other public conveniences in common lands, including the right to cut any trees, bushes or shrubbery, make any grading in the soil, build buildings or take any similar action reasonable and necessary or desirable to provide economical and safe installation of service. Such rights may be exercised by a licensee of the Developer.

(c) The Developer reserves to itself, its successors and assigns, the right to subject the real property in this Subdivision to a contract with Carolina Power and Light Company for installation of street lighting, which contract requires or will require a continuing monthly payment to Carolina Power and Light Company by each residential customer for street lighting service.

18. Absence of Dedication to Public Use

Nothing in these restrictions, nor in the recording of any plat or deed pursuant hereto, shall dedicate (or be deemed to dedicate) to public use any of the streets, bridges, common lands or other grounds within OLDE POINT ESTATES.

19. Annexation of Additional Properties

If the Developer, its successors or assigns, shall develop all and any lands adjoining the Property, said additional tract or any portion thereof may be annexed to said Property without the assent of tho members of the Association, provided, however, the development of such additional tract shall be in accordance with the same general scheme of development of OLDE POINT ESTATES. The annexation provided in this Section shall become effective upon the filing by the Developer of an amended Declaration for such additional section in the office of the Register of Deeds of Pender County.

20. Invalidation

The invalidation by any Court, agency or legislation of any provision in these restrictions shall in no way effect any of the other provisions of: these restrictions but the same shall remain in full force and effect.

21. Covenants Run with the Land

All. covenants, restrictions and affirmative obligations set forth in these restrictions shall run with the land and shall be binding on all. purchasers of lots in said subdivisions, their successors and assigns, until March 1, 2004, after which time all said covenants shall automatically be extended for successive periods of ten (10) years, unless an in strument signed by a majority of the then owners of lots, has been recorded, agreeing to change, amend or revoke said covenants in whole or in part.

IN WITNESS WHEREOF, Olde Point Associates Limited Partnership, has caused this instrument to be executed by its proper corporate officers this the 4th day of April 1989.

OLDE POINT ASSOCIATES LIMITED PARTNERSHIP, a Delaware Limited Partnership

BY: HANLEY CORPORATION, a North Carolina Corporation, General Partner

JEROME M. DOHERTY, President

ATTEST: WALTER E. BEAM, JR., Secretary

ATTEST: MORDECAI DE1TSCH, Secretary

JOYCE H. SWICEGOOD
REGISTER OF DEEDS
STATE OF NORTH CAROLINA 

AMENDMENT TO THE DECLARATION OF COVENANTS,
OLDE POINT DEVELOPMENT ORIGINAL DECLARATION 
RECORDED IN BOOK 732, PAGE 165 PENDER COUNTY REGISTRY

THIS AMENDMENT, made this 1st day of August, 1989, is made for the purpose of modifying the original Declaration of Covenants recorded in Book 732 at Page 165 of the Pender County Registry (hereinafter "Declaration"). Except as added to or modified herein, the original Declaration shall remain valid and binding on all lot owners as set forth herein.

Paragraph 10 of the Declaration which presently reads as follows:

10. Household Pets

No horses, cattle, swine, or other livestock, or poultry or animals of any kind shall be raised, boarded or kept on any lot except that dogs, cats, or any household pets may be kept provided that they are not kept, boarded or maintained for any commercial purpose.

shall be deleted in its entirety and replaced with a new Paragraph 10 which shall read as follows:

10. Household Pets and Horses

No cattle, swine, or other livestock (with the exception of Horses), or poultry or animals of any kind shall be raised, boarded or kept on any lot except that dogs, cats, or any household pets may be kept provided that they are not kept, boarded or maintained for any commercial purpose. In keeping with the intention of the Developer to create an equestrian community with observance of good environmental practices, horses shall be permitted on any lot, but only in conjunction with a residence maintained on that lot or an adjacent lot. The number of horses belonging to the owner of any lot shall be limited to one (1) horse per one (1) acre of land owned. The lot owner shall be responsible for controlling odor, insects and runoff as it relates to the keeping of horses on said lot. Should the owner fail to comply with these strict standards, complaints may be issued to the Association and the Association shall have the right to enter said property and bring it up to suitable standards at the owner's expense. Should said property owner have more than three complaints lodged against said owner at different times daring a one year period, the Association reserves the right to cast a majority vote as to whether said owner shall lose his right to keep horses on said property. Horse stables, paddocks, or facilities shall not be used or maintained for any commercial purpose.

OLDE POINT ASSOCIATES LIMITED PARTNERSHIP, A Delaware Limited Partnership

BY: HANLEY CORPORATION, a North Carolina Corporation, General Partner, JEROME M. DOHERTY, President

WALTER E. BEAM, JR., SECRETARY

I, Mary Edens, Notary Public said County and State do hereby certify that WALTER E. BEAM, JR. personally appeared before me this day and acknowledged that he is Secretary of HANLEY CORPORATION, a corporation which is a General Partner in the limited partnership of OLDE POINT ASSOCIATES LIMITED PARTNERSHIP; that by authority duly given and as the act of. the corporation, the foregoing instrument was signed in its name by its President, sealed with its corporate seal, and attested by himself as its Secretary; that the act of the General Partner is the act of the limited partnership; and that the typewritten word ."SEAL" appearing beside the name of the limited partnership is its seal.

Witness my hand and notarial stamp or seal this the , 1989.  My Commission Expires: April 20, 1993

Mary Edens
Notary Public