DECLARATIONS OF RESTRICTIONS AND COVENANTS OF COBBLESTONE MOUNTAIN ESTATES - PHASES I AND II That for the purpose of maintaining fair and adequate property values and of continuing said property as a desirable residential part of Fall River County, South Dakota, Knutson Brothers Incorporated makes the following declarations as to restrictions and use of the Cobblestone Mountain Estate lots and hereby specifies that said declarations shall constitute covenants to run with the land and shall be binding upon all parties and all persons claiming under them for a period of twenty-five (25) years from the date these covenants are recorded, after which time said covenants shall be automatically extended for a successive period of ten (10) years unless an instrument signed by a majority of the then Owners of the lots has been recorded, agreeing to change said coventants in whole or in part.  Invalidation of any one of these covenants by county zoning or planning requirements, judgement or court order shall in no way or respect affect any of the other provisions which shall remain in full force and effect.  Lack of enforcement of any restriction or covenant shall not set a precendent.  All covenants shall also be recognized by and agreed to by the Cobblestone Mountain Estates Property Owner Association. For the purposes hereof, the following terms shall be described as follows: A.  "Association" shall mean and refer to the Cobblestone Mountain Estates Property Owner's Association. B.  "Properties" shall mean and refer to that certain real property herein before described. C.  "Lot" shall mean and refer to any plot of land shown upon any recorded subdivision map of the Properties. D.  "Owner" shall mean and refer to the Owner of record. 1.  PROPERTY OWNER'S ASSOCIATION:    A.  The Property Owner's Association shall be established upon the sale of 5 lots within Phase One (1) of the Cobblestone Mountain Estates Subdivision.  At such time, such Owners will select their Board of Directors and Officers.    B.  Ownership of any lot within Cobblestone Mountain Estates shall qualify and obligate the Owner to membership in the Property Owner's Association, which shall be a non-profit organization.  Each lot Owner, in accepting a deed or contract for deed for any lot, agrees to and shall be a member of and subject to the obligations and duly enacted bylaws, covenants and rules of the Property Owner's Association.    C.  Each Owner of a lot shall be entitiled to one vote per lot.  If more than one Owner of a lot, the Owners must decide among themselves how to cast their one vote per each lot owned.  Meetings of the Property Owner's Association will be held at least annually, and thirty (30) days written notice by mail to the Owner's last known address shall be given of the time and place of the meeting.  A quorum of five (5) Owners of lots shall be necessary to conduct business.  A special meeting of the Property Owner's Association may be set by the President or 51% of lot Owners.   D.   The intital annual assessment of each lot shall be set at one-hundred ($100) dollars.  The annual assessment shall be due on January 1 of each calendar year in the amount of one-hundred ($100) for each lot owned.  The annual assessment shall be raised by the Board of Directors as the needs of the Property Owner's Association shall require.  The annual assessment shall not increase more than 5% per year unless such greater increase if approved by 51% of the lot Owners.  Special assessments may be made upon a vote of 51% of the lot Owners.  Any assessment not paid within 30 days after it is due shall bear interest of 10% monthly until paid in full and shall be subject to a lien on real estate property assessed.  No assessment of any nature shall be made upon lots owned by Developers.  Assessments shall be used for the improvement and maintenance of any existing developed roads, future roads as accepted by the Association, common facilities, and for any capital improvement to be made to the roads or common facilities, and to support the operation of the Association.   E.   The Property Owner's Association, acting through it's Board of Directiors, shall have the duty of enforcement of the covenants and collection of annual and special assessments.  The Association, through it's Board of Directors, may bring legal actions for the collection of any unpaid assessment or attach a lien against the real estate of the property so assessed.  Failure by the Developers or Property Owner's Association to enforce any covenant or restrictions herein contained shall in no event be deemed a waiver or the right to do so hereafter.  Invalidation of any one of the covenants or restrictions by judgemnt or court order shall in no way affect any other provision which shall remain in full force and effect.   F.   Any or all disputes shall be addressed to the Property Owner's Association and not to the Developers. 2.   LAND USE AND BUILDING TYPE:   A.  All lots in said Subdivision shall be know, described and used for residential purposes only.  No commercial activity of any kind shall be permitted on any lots, except that home occupations shall be allowed that do not produce noise, fumes, dust or smoke and no retail or wholesale businesses generating increased traffic into the Subdivision shall be allowed.   B.  Only a one-family unti shall be erected or place on any one (1) lot, not to exceed two stories in height above ground level.  The construction of any residence built must be of new building materials and shall be completed within one (1) year from the date of commencement.  New modulars must meet the State of South Dakota standards and placed on a permanent foundation.  No single or doublewide trailers or manufactured homes of any kind shall be allowed.  During the period of actual construction, the Owner may reside in a self-contained motor home or self-contained camper on lot for the 1 year period allowed for the construction of new home.  Otherwise, camper trailers shall be allowed for residential purposes not to exceed 1 month out of each year.  Any additional buildings must also be made of new building materials.   C.   No residence or other improvements which are located upon the property shall be permitted to fall into disrepair and all such residences and other improvements shall be maintained in good condition.   D.   No unsightliness shall be permitted on any of the lots and said premises shall not be used or maintained as a dumping ground or storage area for old automobiles, boats, rubbish or trash in order to maintain the natural beauty of the area and subdivision.   E.   All garbage and similar waste shall be kept in sanitary containers and such containers and other equipment for disposal of garbage shall be kept in a clean, sanitary and fire safe condition.  No incinerators shall be allowed.  No outside fires or outside burning shall be conducted without a Forest Service Permit.   F.  A 10' easement on all borders of lot(s), both over and underground is reserved to be exercised in a manner not to interfere with the reasonable utilizations of said lot(s) for residential purposes, for utility installation, roads and maintneance.  A 30' road and utility easement for borders along roads with Subdivision.   G.   No noxious or offensive activity shall be carried on upon any lot or shall anything be done thereon which may be or become an annoyance or nuisance to the neighborhood.   H.  No lot shall be further subdivided.   I.  No mining, drilling or mineral exploration or surface disturbing operations are permitted. 3.  ANIMALS:    Dogs, cats and other small animals may be kept provided that they are not kept, boarded, bred or maintaind for any commercial purpose.  It shall be permissible to keep or graze horses, llamas or alpacas provided that there is no more than one (1) horse, llama or alpaca for every 2 acres of property.  Accumulation or spreading of munure attracting flies or causing odor shall be prohibited.  All animals shall be contained so as not to encroach onto any other Property Owner's lot.  Any animal shall not be permitted to make any undue or prolonging noise causing annoyance or disturbance to the neighborhood or Owners of lots in Subdivision.  No pigs or hogs shall be allowed. (Not an actual copy of recorded covenants)