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Square footage minimum: 5,000 s.f. total (3,000 s.f. on first floor) Homeowner's Association: To be created once all of the lots are sold (or sooner at the Developer's discretion). Active management to be performed by a professional property management company. Homeowner's Assessment fees: $295 per month. Assessment will be used to maintain common areas and private roads, upkeep of stone and wrought iron fence, snow removal, and lake maintenance Time frame to start construction: There is no deadline to start the construction of a residence. However, there is an 18 month deadline to finish construction. In addition to the covenants, conditions, & restrictions – buyer will be required to submit at the concept stage of the architectural review process, a letter of financial responsibility from the buyers’ bank, signed by an officer of the bank that states this buyer has the financial resources to enable the buyer to completely finish a home construction project within an 18 month time period, once the project has commenced. This letter of financial responsibility is not a request for a net worth statement of the buyer. Architectural Review process: Buyer to submit 2 full sets of house plans to be reviewed. Thirty (30) days for review process for approval or disapproval.$500.00 processing fee. Design Guidelines: Design standards and restrictions will be in place to insure the creation of residences that are compatible with the environment. Homes will have a harmonious architectural approach compatible with the existing landscape. Sanitary Sewage Disposal: The developer shall provide the engineering for all septic systems and shall be responsible for the installation of the septic field, not including the aerobic unit and holding tank which will be the responsibility of the lot owner – with the exception of lots 7 and 9 the developer will be responsible for the installation of the complete septic systems for these two lots. Private well systems: Developer will include wells drilled to St. Peter's aquifer (at an approximate depth of 700') with the sale of each lot. Fences: Only fencing as required by the county for an in-ground pool. Special Note: This is a summary only of the Covenants, Conditions, & Restrictions. A complete set of Covenants, Conditions, & Restrictions are available through the listing agent. |