Elk Ridge Community Association

1.

Single Family Residence: All portions of the Property shall be subject to the use limitations, restrictions, easements, and other provisions, as may be set forth in this Master Declaration or any other Elk Ridge document as same are applicable to the Property. No ”Lot” shall be used except for single-family residential purposes and related recreational uses. No trade, business or other type of commercial activity shall be conducted on or from any Lot except for the construction, development and sale of the Lots or portions thereof (including but not limited to, Residences constructed thereon). No building shall be erected upon any Lot other than one single-family dwelling, one guest dwelling, one barn or similar structure for livestock purposes, one private garage and one shed or storage unit for the storage of recreational vehicles. No Improvement on any Lot shall exceed one story, as defined by applicable Bonneville County development ordinances, without the consent of the Architectural Review Committee (“Committee”).

2.

Building Separations; Lot Boundary Line Set Backs: All structures shall be set back a minimum of 125 feet from the property line adjacent to the principal road; 40 feet from any common shared lot line, and; 50 feet from any common shared rearyard lot line. Provided however, the Owner of a Lot may construct the Residence within the rear yard and side yard set back boundary lines if the Owner is also the Owner of all or a portion of the abutting Lot and the plans for the Residence include all or a portion of the abutting Lot.

3.

Square Footage: The minimum footprint coverage of the principal residence shall be 1,250 square feet. The footprint shall be defined as the area contained within the perimetrical boundaries created by the downward projection of the structure’s outermost walls to ground level. The footprint shall not include porches, patios, balconies, garages and other non-habitable structures attached to the residence. If a principal residence is two-stories, to be approved by the Committee, the minimum footprint coverage of the first floor shall be 1,000 square feet and the second-story minimum footprint coverage shall be 500 square feet.

4.

Construction of Residences by Owners: Each Owner agrees, that upon approval of the proposed Residence on the Lot by the Committee and all appropriate governmental authorities, if any are required, to commence and complete the Residence as soon as reasonably possible in a good and workmanlike manner. Once Owner commences construction, Owner shall diligently pursue such construction to completion, but in all events covenants to substantially complete same as evidenced by a certificate of occupancy within 12 months from commencement of construction. Further, extension of the time in which completion of construction is required may be extended in writing by Declarar;it or the Association upon good cause shown by the Owner requesting the extension. Commencement of construction shall be evidenced by the clearing of the building pad.

5.

Leasing: No Lot, nor any structure erected thereon, may be rented for any time for any time period less than ninety (90) days and only one time per calendar year.

6.

Litter: Maintenance of Property: In order to preserve the beauty of Elk Ridge, no garbage, trash, refuse or rubbish shall be deposited, dumped or kept upon the Property, except in closed containers. All containers shall be kept in a clean condition with no noxious or offensive odors emanating therefrom. The Property and Improvements thereon shall be kept in a good, safe, clean and attractive condition. No weeds, underbrush or other unsightly growth shall be permitted to remain anywhere thereon. Excepted from the foregoing shall be all construction debris, refuse, unsightly objects and waste upon any Residential Lot during the period of construction of Residences or other Improvements upon the Property. During construction of a Residence or other Improvements upon any portion of the Property, the Owner thereof shall be required to maintain the Property in a clean condition and, to provide receptacles for the disposal of trash and rubbish as well as other construction debris. All such construction debris, rubbish, or refuse must be removed from the Property no later than thirty (30) days after the completion of the Improvement, as evidenced by the issuance of a certificate of occupancy, if applicable.

7.

Subdivision and Partition: No lot shall be subdivided without the Declarant’s prior written consent. In connection with the foregoing, any Lot which is subdivided or partitioned shall only be conveyed to the Owners of the immediately adjacent Lot.

8.

Casualty Destruction to Improvements: In the event a Residence and or other Improvement(s) upon a Residential Lot is damaged or destroyed by casualty, hazard or other loss, then the Owner(s) thereof and/or the parties responsible for the maintenance thereof shall be obligated to rebuild or repair the damaged Residence or Improvement(s) upon obtaining the Committee’s approval, if required hereunder, diligently continuing such rebuilding or repairing activities to completion or, upon a determination by the Owner( s) thereof that the Residence or Improvement( s) will not be replaced or repaired, promptly clear the damaged Residence or Improvement(s) and grass over such Residential Lot in a sightly manner within one hundred eighty ( 180) days from the date of such casualty, hazard or other loss.

9.

Livestock and Pets: No pigs or fowl, or cattle of any kind shall be kept, raised or used on any Residential Lot. Horses and mules are allowed for recreational riding only and shall be restricted to one animal per acre ( no storing or riding or pack animals for guides or outfitters). Dogs and cats may be kept provided they are not kept, bred or maintained for any commercial purpose. No dog, cat or other animal shall be kept ifit creates a nuisance. No animal shall be permitted on any Lot unless such animal be confined to such Lot by barn, corral, fence, hobble, tether, leash or similar constraint and confinement so as not to trespass on any other Residential Lot. The owner of any Lot from which such animal trespasses on to any other Lot shall be strictly liable for any damages caused thereby. In addition, an Owner, by the purchase of a Lot, agrees to indemnify the Declarant and the Association and hold them harmless against loss or liability of any kind arising from said Owner or his or her lessee having any animal in Elk Ridge.

10.

Prohibited Structures: No structure of a temporary character including, but not limited to, any trailer, tent, shack, camper or other outbuilding shall be parked or erected on the Property without the prior written consent of the Committee or Declarant.

11.

Nuisances: Subject to reasonable construction activities, no obnoxious, illegal or offensive activities shall be conducted on the Lots. The Lots shall not be maintained so as to become a nuisance or annoyance to the community. There shall not be erected, constructed, suffered, permitted, committed, maintained, used or operated on any portion of the Residential Lots an annoyance or nuisance of any kind to the residents of Elk Ridge. The term «annoyance or nuisance” shall include, but is not limited to, the open storage of trucks, automobiles, boats, trailers, campers, machinery and other forms of bulk storage not normally associated with the residential use of the property, unshielded exterior lighting which interferes with other residences’ enjoyment of the nighttime environment, and consistent use of ATV’s, motorcycles or snowmobiles on a Lot or other consistent and lengthy use of machinery or other noisy apparatuses. No inoperable vehicle or machinery of any kind shall be stored on any Lot outside of any structure approved by the Design Review Committee.

12.

Signs: No sign, advertisement or notice of any type shall be displayed to public view on any Lot or on any Improvement; provided, however, a name and address sign of not more than one and one-half feet (1 ½) square feet in size may be displayed to public view on a Lot or Residence. In addition, a standard residential real estate sign shall be allowed for all re-sales.

13.

Fences: Road frontage fencing shall be of all pine poles of 4 buck rail construction. Lot owners shall be responsible for the maintenance and upkeep of any fencing erected within the confines of any Lot.

14.

Easements: Easements for the installation of utilities, irrigation and drainage facilities are shown on the recorded plat.

15.

Improvements: All Improvements placed upon the Lots shall comply with the code of ordinances of Bonneville County and all other governmental requirements.

16.

Exterior Antennae, Aerials, Receiving Dishes, Solar Collector Panels: There shall be no exterior antennae, aerials or receiving dishes upon any portion of the Lots, except satellite dishes 18 inches or smaller may be used on or from a Lot provided they are not visible from a common roadway. No solar reflector panels shall be installed on any Residence unless the location, design, and appearance thereof have been approved in writing by the Committee or Declarant.

17.

Storage: Boats, campers, trailers, ATV’s, motorcycles, machinery and similar items, are to be stored in structures to be approved by the Design Review Committee.

18.

Motorbikes, ATV’s, Snowmobile Restrictions: No ATV, motorbike or snowmobile course shall be erected or permitted on any Lot. In addition, the roadways servicing the development cannot be used consistently by said vehicles as a track or course.

19.

Term: This Master Declaration and the terms, prov1s1ons, conditions, covenants, restrictions, reservations, regulations, burdens, benefits and liens contained herein, including, without limitation, the provisions for Assessment shall run with and bind all portions of the Property and inure to the benefit of Declarant, the Association, Owners, Mortgagees and their respective legal representatives, heirs, successors and assigns for a term of thirty years (30) from the date of recording of this Master Declaration among the Public Records of Bonneville County or successor county, after which time this Master Declaration shall be automatically extended for successive periods of ten years (10) each unless at least one year (1) prior to the termination of such thirty (30) year term or any such ten (10) year extension there is recorded among the Public Records of Bonneville County, an instrument signed by the owners of at least two-thirds (2/3) of all Lots contained within the Property, agreeing to change said Master Declaration in whole orin part.

20.

Landscaping: Upon the completion of a principal residence, the Lot owner must plant at least fifteen (15) trees (which shall not be new growth trees or saplings) of which eight (8) must be conifers.

21.

Enforcement: The covenants and restrictions herein contained or contained in any of the Elk Ridge Documents may be enforced by Declarant, the Association, and any Owner in any judicial proceeding seeking any remedy recognizable by law or in equity including damages, injunction or any other form of relief against any person, firm or entity violating or attempting to violate any covenant, restriction or provision hereunder. The failure by any party to enforce any such covenant, restriction or provision herein contained shall in no event be deemed a waiver of such covenant, restriction or provision or of the. right of such party thereafter to enforce such covenant, restriction or provision. The prevailing party in any such litigation shall be entitled to all reasonable costs thereof, including, but not limited to, Attorney’s Fees.

22.

Roads & Road Maintenance: All roads shall be privately maintained by the Lot owners. Lot owners shall be assessed on a per lot basis for road maintenance and snow removal. A road maintenance and snow removal agreement shall be entered into by the Association when established and prior to establishment of the Association by Declarant.

23.

Severability: In the event any of the provisions of this Master Declaration shall be deemed invalid by a court of competent jurisdiction, said judicial determination shall in no way affect any other provisions hereof, which shall remain in full force and effect and any provisions deemed invalid by a court of competent jurisdiction shall be deemed limited to the maximum term and scope permitted by law.

1.

Design Review Committee: In order to preserve the values and provide for the sightly appearance of Elk Ridge, the design review and control functions of Declarant and Association herein set forth shall be administered and be performed by the Committee which shall be established as follows:

(1)

For so long as Declarant is entitled to select members of the Committee, Declarant may, at Declarant’s sole discretion and for such period as Declarant may determine, assign said right to a management or other non-Declarant entity.

(2)

Notwithstanding anything herein to the contrary, at such time as the Turnover Date has occurred or when Declarant voluntarily so elects, whichever shall first occur (“Committee Turnover Date”), Declarant shall assign to the Association the right to appoint members of the Committee whereupon the Board shall thereafter appoint members of the Committee.

1.

Membership: The members of the Association shall be comprised of the “Initial Member” and the “Owner Members” (the “Initial Member” and Owner Members” are hereinafter sometimes collectively referred to as “Members”). The rights of the Members regarding voting, corporate meetings, notices, etc., shall be as set forth in the Articles and Bylaws. If the Owner Member is a corporation, partnership or other type of entity other than a natural person, such entity shall designate in writing a natural person who will have all the rights of an Owner Member for voting purposes. Each Owner of a Lot is a Member of the Association. Membership in the Association is appurtenant to ownership of a Lot and cannot otherwise be transferred, conveyed or assigned separately from the Lot.

2.

Board: The Association shall be governed by the Board which shall be appointed, designated or elected, as the case may be, as set forth in the Articles and Bylaws.

3.

Services: The Association may perform any of the following services:

A.

Provide for maintenance of the roads, including, but not limited to, repairs and snow removal, as well as landscaping and maintenance of public or privately dedicated rights-of-way. The Association shall adopt and may amend and/or supplement standards of maintenance and operation applicable to the Property which is the maintenance responsibility of an entity or person other than Declarant to assure that such maintenance responsibilities are carried forth in a manner so as to maintain the beauty and aesthetic quality of Elk Ridge as established by the Declarant.

B.

Provide for a comprehensive weed removal and weed control program for the Property ;ind areas of publicly or privately dedicated right-of-ways. All costs shall be paid on a pro rata basis according to acreage.

C.

Take any and all actions the Board deems necessary to enforce all covenants, conditions and restrictions affecting any part of the Property and to perform any of the functions or services delegated to the Association in any of the Elk Ridge Documents.

D.

Publish and enforce, as the Association deems necessary, the Rules.

4.

Dues and Assessments: The homeowners association established, or to be established, is authorized to establish annual dues and to impose periodic assessments. The non-payment of dues or assessments may result in a lien being placed on the offending property owners Lot.

1.

“Articles” mean the Articles of Incorporation of the Association.

2.

”Association” means Elk Ridge Community Association, Inc., an Idaho corporation not for profit, responsible for governing Elk Ridge pursuant to the Elk Ridge Documents. This corporation will be set up at the discretion of the Declarant but no later than the Turnover Date as defined herein.

3.

“Attorneys Fees” mean (a) reasonable fees for attorney and paralegal services incurred in connection with the enforcement of this Master Declaration and the documents referred to therein, including, but not limited to, negotiation and preparation for litigation, whether or not an action is actually commenced, through and including all trial costs of collections and assessments; and, (b) court costs through and including all trial and appellate levels and post-judgement proceedings.

4.

“Board” means the Board of Directors of the Association.

5.

“Bylaws” means the Bylaws of the Association.

6.

“Declarant” means Cerberus, LLC, an Idaho limited liability company, and any successors, grantees or assigns to whom Declarant shall specifically transfer or assign all or certain of its rights under this Master Declaration. Any subsequent declarant shall not be liable for the default or obligation of any prior declarant, except as same may be expressly assumed by the subsequent declarant.

7.

“Elk Ridge” means the residential community known as “Elk Ridge” planned or to be planned for development upon the “Property” as more fully described in Exhibit A attached hereto.

8.

“Elk Ridge Declaration” means that certain Elk Ridge Declaration of Restrictive Covenants, as amended from time to time, which shall be recorded in the Official Records of Bonneville County, Idaho.

9.

“Elk Ridge Documents” mean, in aggregate, this Master Declaration, the Plat, all replats thereof, the Articles, the Bylaws, the Rules, and all of the instruments and documents referred to therein or referred to herein including, but not limited to, amendments to any of the foregoing, as applicable.

10.

“Improvement” means any Residence, building, structure or improvement of any kind.

11.

‘”Lot” means one of those certain lots as depicted on the Plat or any subsequent plats or re-plats of the Property thereof

12.

“Master Declaration” means this instrument and any all amendments thereto.

13.

“Owner” means the owner of the fee simple title to a Lot and includes Declarant for so long as it is owner of the fee simple title to any Lot or Property.

14.

“Plat” means the Plat of Elk Ridge and any partial or total re-plats thereof filed for record in the Public Records of Bonneville County, Idaho in the manner required by law.

15.

“Property” means the real property located in Bonneville County, Idaho, more particularly described in Exhibit A, attached hereto and made a part hereof, which is committed to the provisions of this Master Declaration; and those portions of real property which may hereafter become Property pursuant to the recordation of one or more Supplemental Declarations among the Public Records of Bonneville County, Idaho.

16.

“Residence” means any residential dwelling unit intended as an abode for one family which is constructed on a Lot.

17.

“Rules” means collectively the rules and regulations which the Board may promulgate or impose and thereafter modify, alter, amend, rescind and augment any of the same with respect to the use and enjoyment of the Property and provided that no such Rules so promulgated shall be in conflict with the provisions of this Master Declaration, or any other Elk Ridge Document.

18.

“Turnover Date” shall be three (3) months subsequent to the happening of any of the following events, whichever shall occur first:

1.

Declarant has conveyed seventy five (75%) of the Property.

2.

The date on which Declarant, within its sole discretion, notifies the Association in writing that the Declarant is relinquishing its right to appoint Directors to the Association Board.