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DECLARATION OF COVENAN a S AND RESTRICTIONS FOR <br /> STONEACRE SUBDMSION <br /> FIUm'D & Rk"~OI~.DED <br /> FAYETTE COUNTY. <br /> THIS DECLARATION is made as of the~(_,)It-t day of ~~ ... 1~i~9,~ <br />THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE LTNII~D ST~Ii~$J,IJ~, 0 <br />Corporation (hereinafter called "Declarant"). ~/.A. BALLt~RD <br /> CLERK OF SUPERIOR ~0URT <br /> WlTNE$SETH: <br /> <br /> WHEREAS, Declarant owns certain lots and blocks of lots (hereinafter collectively referred <br />to in the singUlar as a "Lot" and in the plural as "Lots") and surrounding properties located in <br />Land Lots 133 and 134 &the 7th District of Fayette County, Georgia which property is more <br />particularly ShOWn on mat certain p~at ut survey o~' Stoneacre Subdivision, recorded in Plat Book <br />23 at Pages 185 and 186, Fayette County, Georgia records (hereinafter referred to as the <br />"Property"); and <br /> <br /> WHEREAS, 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 the covenants, conditions and restrictions as follows: <br /> <br /> 1. RESIDENTIAL PURPOSE. Without specific written approval from Declarant no <br />portion of the Property shall be used except for residential purposes; provided, however, that a <br />commercial builder may use a residential 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 the Property. <br /> <br /> 2. ARCHITECTURAL GUIDELINES. ANY STRUCTURE OR IMPROVEMENT <br />CONSTRUCTED ON ANY LOT, WHETHER TEMPORARY OR PERMA.NE~ 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. ARCHITECTURAL STANDARDS. No exterior construction, alteration, addition, <br />or erection of any improvements of any nature whatsoever, including, without limitation, a change <br />in the color of any improvement, shall be commenced or placed upon any Lot, except such as is <br />installed by the 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 the 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. The Architectural Review Board may, 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 />Architectural Review Board for all matters d. elegated. The Architectural Review Board shall <br />adopt the design and development guidelines and the application and review procedures set forth <br />in the Architectural Guidelines. Copies of the guidelines shall be available bom 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 the Property and such owners, builders and developers <br />shall conduct their operations strictly in accordance therewith. <br /> <br /> The Declarant shall have the fight to appoint all members 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 the <br />Superior Court of Fayette County, Georgia. Upon the surrender of such fight; each year the <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 the members of the Architectural Review Board. <br />The Declarant hereby appoints Peachtree City Development Corp. as the sole member of the <br /> <br /> <br />