Deed Restrictions

Ashton Village Homeowners Association

THESE COVENANTS ARE PROVIDED FOR YOUR INFORMATION.

DECLARATION OF

COVENANTS, CONDITIONS AND RESTRICTIONS

ASHTON VILLAGE

THIS DECLARATION, made on the date hereinafter set forth by YORKSHIRE DEVELOPMENT COMPANY, a Texas corporation, hereinafter referred to as "Declarant" and BENJAMIN FRANKLIN SAVINGS ASSOCIATION, hereinafter referred to as "Lenders".

WITNESSETH

WHEREAS, Declarant is the owner of certain property in Houston, Harris County, State of Texas, which is more particularly described as:

All that certain tract of land out of the William Hardin Survey, A-24, and the Eugene Pillott Survey A-631 in Harris County, Texas known as ASHTON VILLAGE Subdivision, according to the map or plat thereof recorded in Volume 270, at page 42 of the Map records of Harris County, Texas, SAVE AND EXCEPT that tract or parcel of land designated Reserve "A" on the map or plat thereof.

NOW, THEREFORE, Declarant hereby declares that all of the properties 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 real property, and be binding on all parties having any right, title or interest in the described properties or any part thereof, their heirs, successors and assigns, and shall inure to the benefit of each owner thereof and Lenders hereby join for the express purpose of subordinating any and all liens which they may hold to the easements, restrictions, covenants, and conditions herein imposed, provided, however, that such subordination shall in no event extend to any lien or charge imposed or provided for in this Declaration.

ARTICLE I

DEFINITIONS

Section 1.

"Association" shall mean and refer to ASHTON VILLAGE HOMEOWNERS ASSOCIATION, its successors and assigns.

Section 2.

"Owner" shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any Lot which is part of the Properties, including contract sellers, but excluding those having such interest merely as security for the performance of an obligation.

Section 3.

"Properties" shall mean and refer to that certain real property hereinbefore described, and such additions thereto as may hereafter be brought within the jurisdiction of the Association.

Section 4.

"Common Area" shall mean all real property (including the improvements thereto) owned by the Association for the common use and enjoyment of the Owners. The Common Area to be owned by the Association at the time of the conveyance of the first Lot is described as follows:

Reserve "A" in Ashton Village Subdivision, according to the Map or Plat thereof recorded in Volume 270 at page 42 of the Map Records of Harris County, Texas.

Provided however, if in the judgment of the Board of Directors of the Association it is in the best interest of the Association to acquire Lots Nineteen (19) and Twenty (20) in Block Four (4), ASHTON VILLAGE, prior to the time that either of said lots have been improved with a residence and conveyed to a homeowner for residential purposes, and Declarant, in its sole discretions, elects to sell the said lots to the Association, then in that event, the said Lots Nineteen (19) and Twenty (20) in Block Four (4) ASHTON VILLAGE shall be incorporated in and become a part of the Common Area for all purposes hereinafter set forth. It is expressly provided however that Declarant is not and shall not be under any obligation to convey the said Lots to the Association.

Section 5.

"Lot" shall mean and refer to any plot of land shown upon any recorded subdivision map of the Property with the exception of the Common Area.

Section 6.

"Declarant" shall mean and refer to YORKSHIRE DEVELOPMENT COMPANY, its successors and assigns if such successors or assigns should acquire more than one undeveloped Lot for the Declarant for the purpose of development. For the purposes of this Declaration, "developed lot" shall mean a lot with the street on which it faces opened and improved and with utilities installed and ready to furnish utility service to such Lot, and "undeveloped lot" is any Lot which is not a developed lot.

ARTICLE II

Property Rights

Section 1. Owners Easements of Enjoyment.

Every Owner shall have a right and easement of enjoyment in and to the Common Area which shall be appurtenant to and shall pass with the title to every lot, subject to the following provisions:

(a) the right of the Association to make, publish and enforce reasonable Rules and regulations for the use of the Common Area and any facilities situated thereon;

(b) the right of the Association to suspend the voting rights and right to use of the facilities owned or operated by the Association by the Owner for any period during which any assessment against his lot remains unpaid, and for a period not to exceed sixty (60) days for any infraction of it's published Rules and Regulations;

(c) the right of the Association to dedicate or transfer all or any part of the Common Area to any public agency, authority, or utility for such purpose and subject to such conditions as may be agreed to by the members. No such dedication or transfer shall be effective unless an instrument agreeing to such dedication or transfer signed by 2/3rds of each class of members has been recorded;

(d) the right of the Association to limit the number of guests of Owners using any portion of the Common Area and facilities located thereon;

(e) the right of the Association, in accordance with its Articles of Incorporation or By-Laws, to borrow money for the purpose of improving the Common Area and facilities and in aid thereof to mortgage said property. No such mortgage shall be effective unless an instrument agreeing to such mortgage, signed by 2/3rds of each class of members, has been recorded. The rights of any such mortgagee in said properties shall be subordinate to the rights of the Owners hereunder; and

(f) the right of the Association to charge reasonable fees for the use of any recreational facilities situated on the Common Area; provided that any fees charged shall first be approved by a vote of 2/3rds of each class of members who are voting, in person or by proxy, at a meeting duly called for this purpose, written notice of which shall be sent to all members not less than 30 days nor more than 60 days in advance of the date of the meeting, which notice shall set forth the purpose of the meeting.

ARTICLE III

MEMBERSHIP AND VOTING RIGHTS

Section 1. Lot Owners as Members.

Every Owner of a Lot which is subject to assessment shall be a member of of the Association. Membership shall be appurtenant to and may not be separated from ownership of any Lot which is subject to assessment.

Section 2. Classes of Membership.

The Association shall have two classes of membership:

Class A. Class A members shall be all Owners, with the exception of the Declarant, and shall be entitled to one vote for each Lot owned. When more than one person holds an interest in any Lot, all such persons shall be members. The vote for such Lot shall be exercised as they determine, but in no event shall more than one vote be cast with respect to any Lot.

Class B. The Class B member(s) shall be the Declarant and shall be entitled to three (3) votes for each lot owned. The Class B membership shall cease and be converted to Class A membership on the happening of either of the following events, whichever occurs earlier:

(a) when the total votes outstanding in the Class A membership equal the total of the votes outstanding in the Class B membership, or

(b) on May 1, 1982.

ARTICLE IV

CONVENT FOR MAINTENANCE ASSESSMENTS

Section 1. Creation of the Lien and Personal Obligation of Assessments.

The Declarant, for each Lot Owned within the Properties, hereby covenants, and each Owner of any Lot by acceptance of a deed therefore, weather or not it shall be expresses in such deed, is deemed to covenant and agree to pay to the Association: (1) annual assessments or charges, and (2) special assessments for capital improvements, such assessments to be established and collected as hereinafter provided. The annual and special assessments, together with interest, costs, and reasonable attorneys fees, shall be a charge on the land and shall be a continuing lien upon the property against which each such assessment is made. Each such assessment, together with interest, costs, and reasonable attorney's fess, shall also be the personal obligation of the person who was the Owner of such property at the time when the assessment fell due. The personal obligation for delinquent assessments shall not pass to his successors in title unless expressly assumed by them.

Section 2. Purpose of Assessments.

The assessments levied by the Association shall be used exclusively to promote the recreation, health, safety and welfare of the residents and the security of the property in the Properties, for the improvement and maintenance of the Common Area, and for the improvement and maintenance of the medians and esplanades in the streets in the subdivision.

Section 3. Maximum Annual Assessment

Until January 1 of the year immediately following the conveyance of the first lot to an owner, the maximum annual assessment shall be Three Hundred Dollars ($300.00) per lot.

(a) From and after January 1 of the year immediately following the conveyance of the first lot to an owner, the maximum annual assessment may be increased effective January 1 of each year, without a vote of the membership in conformance with the rise, if any, of the Consumer Price Index (published by the Department of Labor, Washington, D.C.) for the year ending with the preceding month of July, or by 5% above the maximum assessment for the preceding year, whichever increase is greater.

(b) From and after January 1 of the year immediately following the conveyance of the first lot to an owner, the maximum annual assessment may be increased at a rate greater than the increase set forth in paragraph (a) of this section 3, or above 5% by a vote of two-thirds (2/3) of each class of members who are voting in person or by proxy, at a meeting duly called for this purpose, written notice of which shall be sent to all members not less than 30 days nor more than 60 days in advance of the date of the meeting, which notice shall set forth the purpose of the meeting.

Section 4. Special Assessments for Capital Improvements.

In addition to the annual assessments authorized above, the Association may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Area, including fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3) of the votes of each class of members who are voting in person or by proxy at a meeting duly called for this purpose.

Section 5. Notice of Quorum for Any Action Under Sections 3 and 4.

Written notice of any meeting called for the purpose of taking any action authorized under Section 3 or 4 shall be sent to all members not less than 30 days nor more than 60 days in advance of the meeting. At the first meeting called, the presence of members or of proxies entitled to cast sixty percent (60%) of the votes of each class of membership shall constitute a quorum. If the required quorum is not present, another meeting may be called to the same notice requirement, and the required quorum at the subsequent meeting shall have one-half (1/2) of the required quorum at the preceding meeting. No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.

Section 6. Uniform Rate of Assessment.

Annual and special assessments shall be fixed at a uniform rate as follows:

1) Owners as defined herein shall pay 100% for both annual and special assessments;

2) The Declarant and its successors as defined herein shall pay 50% of both annual and special assessments attributable to their lots.

Section 7. Date of Commencement of Annual Assessments: Due Dates.

The annual assessments provided for herein shall commence as to all lots on the first day of the month following the conveyance of a lot to an owner for use as his residence. The first annual assessment shall be adjusted according to the number of months remaining in the calendar year. The Board of Directors shall fix the amount of the annual assessments against each Lot at least thirty (30) days in advance of each annual assessment period. Written notice of the annual assessment shall be sent to every Owner subject thereto. The due dates shall be established by the Board of Directors. The Association shall, upon demand, and for a reasonable charge, furnish a certificate signed by an Officer of the Association setting forth whether the assessments on a specified Lot have been paid. A properly executed certificate of the Association as to the status of assessments on a Lot is binding upon the Association as of the date of its issuance.

ARTICLE V

Architectural Control

No Buildings or improvements of any character shall be erected or placed or the erection thereof begun, or changes made in the design thereof after original construction on any lot until the construction plans and specifications and a plan showing the location of the structure or improvements have been submitted to and approved in writing by the Architectural Control Committee, as to compliance with these restrictions, harmony of external design with existing and proposed structures and as to location with respect to topography and finished grade elevation. The initial members of the Architectural Control Committee shall be Harvin C. Moore, Jr., Tyler D. Todd and Jerry L. York. If there exists at any time one or more vacancies in the Architectural Control Committee, the remaining member or members of such Committee may designate successor member's) to fill such vacancy or vacancies. The Architectural Control Committee and the individual members thereof shall not be liable for any act or omission in performing or purporting to perform the functions delegated hereunder. In the event the committee fails to indicate its approval or disapproval within thirty (30) days after the receipt of the required documentation, approval will not be required and the related covenants set out herein shall be deemed fully satisfied. Declarant hereby retains its right to assign the duties, powers and responsibilities of the Architectural Control Committee to Ashton Village Home Owners Association when one hundred percent (100%) of all lots in Ashton Village are occupied by residents, and the term "Architectural Control Committee" herein shall include the Association, as such assignee. The approval or lack of disapproval by the Architectural Control Committee shall not be deemed to constitute any warranty or representation relating to fitness, design or adequacy of the proposed construction or compliance with applicable statutes, codes and regulations.