Your Covenants :

DECLARATION OF COVENANTS AND RESTRICTIONS FOR PAYMENT OF ANNUAL LOT ASSESSMENT

________________________________________________ THIS DECLARATION, Made this _____ day of _______________, 19_____, by the Owner and/or Developer, hereinafter referred to as “Declarant”, of the property known and referred to as Phase I of the Gardens of Riveredge Subdivision as shown on Plat of record in Plat Book 115, Page 25 in the Register’s Office of Shelby County, Tennessee, to which plat reference is hereby made for a more particular description of said property;

WITNESSETH:

WHEREAS, Declarant is the owner of certain property in the County of Shelby, State of Tennessee, which is known and referred to as Phase I of the Gardens of Riveredge Subdivision as shown on Plat of record in Plat Book 115, Page 25 in the Register’s Office of Shelby county, Tennessee, to which plat reference is hereby made for a more particular description of said property; and

WHEREAS, Declarant desires to provide for the preservation of the values and amenities in said community and to this end desires to subject the real estate described hereinabove to the covenants, restrictions, 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 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 maintaining, administering and enforcing the covenants and restrictions and collecting and disbursing the assessments and charges hereinafter created; and

WHEREAS, There will be incorporated under the laws of the State of Tennessee as a non-profit, non-stock corporation, The Walnut Grove Forest Hill Association, Inc., for the purpose of exercising the functions aforesaid;

NOW, THEREFORE, Declarant hereby declares that all of the real property described above shall be held, transferred, sold, conveyed, hypothecated or encumbered, used and occupied, subject to the covenants, restrictions, charges and liens (hereinafter sometimes referred to as “covenants and restrictions”) hereinafter set forth:

ARTICLE I
DEFINITIONS

The following words, when used in this Declaration, shall have the following meanings:

Section 1. “Association” shall mean and refer to The Walnut Grove Forest Hill Association, Inc., a non-profit, non-stock corporation, to be incorporated under the laws of the State of Tennessee, its successors and assigns.

Section 2. “Declarant” shall mean and refer to the Owners and/or Developer, its successors and assigns.

Section 3. “Declaration” shall mean this Declaration of Covenants, Conditions and Restrictions and any supplementary Declaration filed hereto, as this Declaration may, from time to time, be amended in accordance with its terms.

Section 4. “Owner” shall mean and refer to the record owner, whether one or more persons or entities, of fee simple title to any of the Lots being a part of the real estate described hereinabove, but excluding those having such interest merely as security for the performance of an obligation, provided, however, that any purchaser at a foreclosure sale or trustee’s sale shall be deemed an Owner.

ARTICLE I I
COVENANT AND RESTRICTIONS

Section 1. These covenants and restrictions are to run with the land and shall be binding to all parties and all persons claiming under them.

Section 2. The owner(s) of each and every lot(s) on the property known and referred to as Phase I of the Gardens of Riveredge Subdivision as shown on Plat of record in Plat Book 115, Page 25 in the Register’s Office of Shelby County, Tennessee, to which plat reference is hereby made for a more particular description of said property hereby covenant(s) and agree(s), at the time of acceptance of the deed thereof, whether or not it shall be so expressed in any such deed or other conveyance, is/are deemed to covenant and agree to pay, on or before January 1, 1988, or at the time when the single-family dwelling located thereon is substantially completed; however, in no event shall the date be extended beyond January 1, 1990, and on or before the first (1st) day of January of every consecutive year thereafter, an annual assessment, of fifty (50) dollars per lot per annum. The assessment shall have an annual percentage adjustment fixed by the Consumer Price Index and adjusted accordingly on an annual basis.

This Assessment shall be paid to The Walnut Grove Forest Hill Association, Inc. The money collected from said assessment shall provide for the preservation and maintenance of property located along Walnut Grove and Forest Hill-Irene Road and more particularly noted on the plat attached hereto as Exhibit “B”. This assessment shall enable the Association to pay for the expense and maintenance of the various entrance features, planting, landscaping, irrigation and utilities located within the common area(s) and public right-of-way included within the area(s) noted in Exhibit “B”, as well as any other expense the Association may deem necessary.

The failure to pay such annual assessment shall create a continuing lien against the delinquent lot(s). To evidence the lien of any unpaid and delinquent assessment, the Association, or an agent thereof, may prepare a written notice setting forth the amount of such unpaid indebtedness, the description of the lot(s) and the name of the owner(s). Such a notice shall be signed by an agent or representative of the Association, and may be recorded in the Register’s Office of Shelby County, Tennessee. The lien against said property shall be subordinate only to previously recorded first mortgages. The Association shall be entitled to reimbursement of any cost of collection, including, but in no way limited to, any interest at the maximum legal rate, court costs and a reasonable attorney fee should any lot owner for any reason become delinquent on the payment of the annual assessment or a portion thereof. Any expenses or costs incurred by the Association or their assigns in the collection or foreclosure of any unpaid assessment shall be the personal obligation of the owner(s) and shall be included in the lien against said lot.

ARTICLE I I I
ASSIGNMENT OF RIGHTS AND DUTIES

Declarant reserves unto itself the right and power to assign all benefits, covenants and restrictions as provided for herein to the Association at such time as such entity is properly constituted with appropriate charter, covenants, restrictions and By-laws.

BOYLE INVESTMENT COMPANY
A Tennessee Corporation
By_______________________________
Its:_______________________________
STATE OF TENNESSEE)
COUNTY OF SHELBY )

Before me, the undersigned Notary Public in the state and county aforesaid, personally appeared _____________, with whom I am personally acquainted and who, upon oath, acknowledged to be _____ President of BOYLE INVESTMENT COMPANY, a Tennessee corporation, the within named bargainor, a corporation, and that _____, as such _____ President, being authorized so to do, executed the foregoing instrument for the purposes therein contained by signing the name of the corporation by _____self as such _____ President.
Witness my hand and Notarial Seal at office this _____day of ________, 1987.
_________________________________
Notary Public
My Commission Expires:
___________________________________

Prepared By and Return to:

Griffin, Clift & Burns
Attorneys at Law
855 Ridge Lake Boulevard
Suite 102
Memphis, Tennessee 38119
(901) 767-7460
THE GARDENS OF RIVEREDGE, PHASES IA & IB
RESTRICTIONS AND COVENANTS

1. All lots in this tract shall be known and described as residential lots.

2. Lots are not to be resubdivided.

3. No structure shall be erected, placed, altered or permitted to remain on any lot in this subdivision other than one detached single family dwelling and its related buildings. The minimum heated floor area of the single family residence, exclusive of porches and garages, shall not be less than 3,000 square feet for a one (1) story dwelling, and not less than 3,250 square feet for a one and one-half (1-1/2) story or two (2) story dwelling, with the minimum heated ground floor area of the one and one-half (1-1/2) story or the two story dwelling being not less than 2,400 square feet.

4. Building setback lines shall be no less than fifty (50) feet from the street right-of-way line said right-of-way being located at the back of curb, and no less than ten (10) feet from the lot sidelines. Under special circumstances setbacks may be reduced to a lesser amount if authorized by Boyle Investment Company in writing prior to commencement of construction, but in no case shall any building setbacks be less than those specified by the Memphis and Shelby County Zoning Regulations. Boyle Investment Company reserves unto itself, it’s successors and assigns, the right to control absolutely the precise site and location of any house or other structure upon all lots in the subdivision. Such location shall be determined only after reasonable opportunity has been afforded the lot owner to recommend a specific site.

5. These covenants are to run with the land and shall be binding on all the parties and all persons claiming under them until December 31, 2012, at which time said covenants shall be automatically extended for successive periods of ten (10) years unless, by a vote of a majority of the then owners of the lots, it is agreed to change said covenants in whole or in part.

6. No improvement or change, including but not limited to the construction, alteration or erection of any structure, terrain, change, fence, radio antenna, satellite dish, driveway, walkway, landscape screening, mailbox, outdoor lighting fixture, sanitary and/or storm sewer system, underground wiring, swimming pool, pool deck, or the removal of an existing tree or trees which are six inches (6”) in caliper or larger when measured at a point two fee (2’ above the ground, shall be commenced, erected, placed or permitted on any lot in this subdivision until the plans, specifications and specific location (including elevation) of said improvements or change has been approved in writing, or the requirement for such approval has been waived in writing, by Boyle Investment company or by a representative or committee, (all hereinafter referred to as “Boyle”) duly appointed by said Company. Boyle reserves the right to require the submission of designs, material selections and layouts of proposed improvements or changes at different stages of the design process, and further reserves the right to specify the information required therein s well as the format thereof. All brick used in the construction of a home, fence and /or retaining wall (including planters) must be a wood molded brick or a hand made brick unless otherwise approved in writing by an officer of Boyle Investment Company. Boyle or its assigns may charge and collect a reasonable fee for the examination of any plans and specifications submitted for approval payable at the time such plans and specifications are so submitted. The amount of such fee shall not exceed the cost of making such examination, including the cost of any architect’s or engineer’s fees incurred in connection therewith.
Generally, carports will not be allowed and garages should not face the street.
Generally, no fence shall be permitted in the setback area from the street(s).

7. If any improvement or change requiring approval shall be undertaken on a lot and said approval has not been obtained from Boyle Investment Company or from a representative or a committee duly appointed by said Company, or if any improvement or change which is not in conformance with approved plans and specifications shall be undertaken on a lot, said improvements or change shall be deemed to have been undertaken in violation of these covenants, and upon written notice from Boyle, its representative or committee, any such improvement or change deemed to be in violation shall be removed or altered so as to extinguish such violation. If, thirty (30) days after the notice of such a violation, the owner or owners of the lot in questions shall not have taken reasonable steps toward the removal or alteration of same, Boyle, it’s representative or committee, shall have the right, through its agent, to take such legal steps as may be necessary to extinguish such violation, and the cost thereof, including court costs and reasonable legal fees, shall be a binding obligation of the owner as well as a lien on the lot in question upon the recording of such with the Office of the Register of Shelby County, Tennessee. Any lien so recorded shall be subordinate to the lien of any previously recorded first mortgage.

8. Upon completion of any improvement or change on a lot undertaken and completed in accordance with plans and specifications approved by Boyle, its representative or committee, and upon written request of the owner or owners of such lot, a certificate of compliance shall be issued in a form suitable for recordation. Preparation and recording of such certificate shall be at the expense of the owner or owners of such lot. Any certificate of compliance issued in accordance with the provisions of this paragraph shall be prima-facie evidence of the facts therein stated, and as to any purchaser or encumbrancer in good faith and for value, or as to any title insurer, such certificate shall be conclusive evidence that all improvements and changes described therein comply with all requirements of Boyle Investment Company, its representative or committee.

9. Boyle Investment Company reserves unto itself the right to impose additional and separate restrictions at the time of sale of any of the lots sold by Boyle Investment Company in this subdivision, which said restrictions may not be uniform, but may differ as to different lots.

10. The Owner of each lot(s) shall be responsible and held liable for maintaining, whether or not any improvements have been made thereon, the condition of his/its lot(s), including but in no way limited to, clearing any trash or litter, having the grass cut to a reasonable length and keeping their property in a general state of repair so as not to disturb or aesthetically offend the character of the surrounding lot(s).
If the lot is not being properly maintained, written notice shall be given by mail to the record owner of said lot(s), and after ten (10) days from the mailing of said notice, Boyle, or their approved agent, reserves the right to enter the property and take the appropriate measures to remedy and repair the problem(s). The lot owner shall be assessed twice the cost to repair or remedy the said problem, including but in no way limited to, any cost incurred in the collection of this indebtedness and reasonable attorney fees in connection therewith. Thirty (30) days after written notice has been mailed, the sum of any unpaid balance in connection with this paragraph shall become a lien, subject only to any previously recorded first mortgages upon the lot(s) in question, upon the recording of such with the office of the Register of Shelby County, Tennessee.

11. No noxious or offensive trade or activity shall be carried on upon any lot, nor shall anything be done thereon which may be or become an annoyance or nuisance to the neighborhood.

12. No trailer, basement, tent, shack, garage, barn or other outbuilding erected in the tract shall at any time be used as a residence, temporarily or permanently, nor shall any structure of a temporary character be used as a residence.

13. No recreational vehicles or commercial vehicles, including, but not limited to, boats, boat trailer, house trailer, motorcycles, pickup trucks, or similar type items shall be kept other than in a garage, screened from view of adjoining neighbors and the street. No tractor or trailer may be parked on any lot or in the street in front of any house.

14. Vegetable gardening will be allowed only to the rear of the house. No animals, livestock or poultry of any kind shall be raised, bred or kept on any lot, except dogs, cats and other household pets may be kept, providing they are not bred or kept for any commercial purposes. No commercial breeding of pets will be allowed.

15. Boyle Investment Company reserves the right to assign any or all of its rights, obligations, privileges or undertakings imposed by these restrictions to a representative or committee appointed by it, thereby relieving Boyle of any and all liability or obligation for any cause that may arise on or after the time of said assignment. Neither Boyle Investment Company, its representative or committee, nor any architect or agent thereof, shall be responsible in any way for any defects in any plans or specifications submitted, revised, or approved in accordance with the foregoing provisions, nor for any structural or other defects in any work done according to such plans and specifications.

16. If the parties hereto, or any of them, or their heirs or assigns, shall violate any of the covenants herein, it shall be lawful for any other person or persons owning real property in said subdivision development to prosecute any proceedings at law or in equity against the person or persons violating or attempting to violate any such covenants and either, through the court or other legal authority, prevent him or them from so doing or to recover damages or other dues for such violation. Should the case be tried in a court of law, the losing party shall pay all court costs and reasonable attorney fees of the successful party.

17. If Boyle, their agent or assigns, attempts to enforce through any legal means any of the covenants, restrictions or liens herein, the cost of said enforcement, including but in no way limited to, reasonable attorney fees shall be paid by the owner or other violating or attempting to violate said restrictions and covenants.

18. Invalidation of any of these covenants by judgment or court order shall in no way affect any of the other provisions, which shall remain in full force and effect.