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DECLARATION OF COVENANTS AND RESTRICTIONS FOR <br /> INTERLOCflEN (PilASE 111) SUBDIVISION <br /> <br /> THIS DECLARATION is made as of tho,_')'(_)'//'-''' '" day of, TJdo2LZ~ <br />THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U',IqiTED STATES, <br />Corporation (hereinafter called "Declarant"). <br /> <br />a New York <br /> <br />WITNESSETH: <br /> <br /> WItEREAS, Declarant owns certain lots and blocks of lots (hereinafter collectively referred <br />to in the singular as a "Lot" and itl the plural as "Lots") and surrounding properties located in <br />Land Lots 92 and I01 of tile 7th District of Fayette County, Georgia which property is more <br />particularly shown on that certain plat of survey of Interlochen (Phase III) Subdivision, recorded <br />in Plat Book 25 at Pages 37 and 38, Fayette County, Georgia records (hereinafter referred to as <br />the "Property"); and <br /> <br /> WItEREAS, Declarant desires to establish certain covenants and restrictions pertaining to <br />the ownership, development, use and enjoyment of the Property. <br /> <br /> NOW THEREFORE, for and during the term hereof, as hereinafter stated, be it hereby <br />declared that the Property is subjected to tile covenants, conditions and restrictions as follows: <br /> <br /> 1. KESIDENTIAL PURPOSE. Witbo,ut 'specific written approval from Declarant no <br />portion of the Property shall be used except for residential purposes; provided, however, that a <br />com~nercial builder may use a resklential dwelling constructed by it on a Lot for a sales office so <br />long as it is actively offering for sale houses that it constructed on tile Property. <br /> <br /> 2. ARCHITECTURAL GUIDELINES." ANY STRUCTURE OR IMPROVEMENT <br />CONSTRUCTED ON ANY LOT, WHETItER TEMPORARY OR PERMANENT IN <br />NATURE, SHALL BE DESIGNED AND BUILT IN ACCORDANCE WITH THE <br />ARCHITECTURAL GUIDELINES ADOPTED BY THE ARCHITECTURAL REVIEW <br />BOARD. <br /> <br /> 3. AP,.CtliTECTURAL STANDARDS. ,No exterior construction, alteration, addition, <br />or erection of any improvements of any nature whatsoever, including, without limitation, a change <br />in tile color of any improvement, shall be commenced or placed upon any Lot, except such as is <br />installed by tile Declarant, or as is approved in accordance with this Section, or as is otherwise <br />expressly permitted herein. No exterior construction, addition, erection, or alteration shall be <br />made unless and until such plans and specifications showing at least tile nature, kind, shape, <br />height, materials, and location shall have been submitted in writing to and approved by an <br />Architectural Review Board established by the Declarant. The Declarant may employ for the <br />Architectural Review Board architects, engineers, or other persons necessary to enable the <br />Architectural Review Board to perform its review. Tile Architectural Review Board ~nay, from <br />time to time, delegate any of its rights or responsibilities hereunder to one or more duly licensed <br />architects or other qualified persons, which shall have full authority to act on behalf of the <br />Arcbitectural Review Board for all matters delegated. The Architectural Review Board shall <br />adopt the design and development guidelines and tbe application and review procedures set £orth <br />in the Architectural Guidelines. Copies of tile guidelines shall be available from the Architectural <br />Review Board for review. The Architectural Review Board shall have sole and full authority to <br />prepare and to amend the Architectural Guidelines. It shall make the Architectural Guidelines <br />available to owners, builders, and developers who seek to engage in development of or <br />construction upon all or any portion of tile Property and such owners, builders and developers <br />shall conduct their operations strictly in accordance therewith. <br /> <br /> 'File Declarant shall bare tile right to appoint all me~nbers of the Architectural <br />Review Board. There shall be no surrender of this right except in a written instrument in <br />recordable form executed by Declarant and recorded in the Land Records of the Clerk of' tile <br />Superior Court of Fayette County, Georgia. Upon tile surrender of such right, each year tile <br />resident owners of all the Lots comprising the Property shall by majority vote appoint for a one <br />year term three (3) resident owners to serve as tile members of the Architectural Review Board. <br />The Declarant hereby appoints Peachtree City Development Corp. as the sole member of the <br /> <br /> <br />