Declaration of Master Covenants, Conditions and Restrictions for Lochmere

THIS DECLARATION, made this 20th day of September, 1984, by MACGREGOR DEVELOPMENT COMPANY, a North Carolina corporation with its principal office and place of business In Wake County, North Carolina, and J.P. GOODSON ENTERPRISES, INC., a North Carolina corporation with its principal office and place of business in Wake County, North Carolina hereinafter collectively referred to as the Declarant;

WITNESSETH:

WHEREAS, Declarant is the owner of certain property in Swift Creek Township, County of Wake, State of North Carolina, and other persons and/or entities joining in the execution of these Master Covenants are owners of portions of the property herein described In attached Exhibit A all of which is more particularly described as:

SEE ATTACHED EXHIBIT A

AND WHEREAS, Declarant will convey the said properties subject to certain protective covenants, conditions, restrictions, reservations, and charges as hereinafter set forth; and

WHEREAS, Declarant has heretofor conveyed portions of that property described in attached Exhibit A to other persons and/or entities and those persons and/or entities have joined with Declarant in the execution of this document for the purpose of subjecting those previously conveyed tracts or parcels of land to these Master Covenants; and

WHEREAS, Declarant desires to create thereon a planned community with a mix of housing types; and

WHEREAS, Declarant desires to provide for the preservation and enhancement of the property values, amenities and opportunities in said community and for the maintenance of the properties and improvements thereon, and to this end desires to subject the real property described in Exhibit A together with such additions as may hereafter be made thereto to the covenants, restrictions easements, charges, and liens hereinafter set forth, each and all of which is and are for the benefit of said property and each owner thereof; and

WHEREAS, Declarant has deemed it desirable for the efficient preservation of the values and amenities in said community to create an agency to which should be delegated and assigned the powers of owning, maintaining and administering the community properties and facilities, administering and enforcing the covenants and restrictions, collecting and disbursing the assessments and charges hereinafter created, and promoting the recreation, health, safety, and welfare of the residents; and

WHEREAS, Declarant has incorporated under the laws of the State of North Carolina the Lochmere Association as a non-profit corporation for the purpose of exercising the functions, aforesaid, among others;

NOW, THEREFORE, Declarant and other persons and/or entities joined herein hereby declare all of the property described herein in the attached Exhibit A to be held, sold, and conveyed subject to the following easements, restrictions, covenants, and conditions, all of which shall run with the real property, shall be binding on all parties having or acquiring any right, title, or interest in the described properties or any part thereof, and shall inure to the benefit of each owner thereof.

Page I- Article I (Definitions), Article II (Common Area Ownership and Maintenance)

Page II- Article III (Land Use), Article IV (Architectural Control), Article  V (Membership and   Voting Rights)

Page III- Article VI (Assessments), Article VII (Easements)

Page IV- Article VII (Annexation of Additional Properties), Article IX (General Provisions)

Page V- Article X (Dissolution or Insolvency of the Lochmere Association), Article XI (VA and HUD Approval)

Exhibit A