SW8010706_HISTORICAL FILE_20120328

STORMWATER DIVISION CODING SHEET
POST -CONSTRUCTION PERMITS
PERMIT NO.
SW8 U \ U-1 U to
DOC TYPE
❑ CURRENT PERMIT
❑ APPROVED PLANS
HISTORICAL FILE
❑ COMPLIANCE EVALUATION INSPECTION
DOC DATE
201E 0 .b 2$
YYYYMMDD

A `P
A
NCDENR
North Carolina Department of Environment and Natural
Beverly Eaves Perdue
Governor
March 28, 2012
Mr. Neil I. Rogers, Vice President
Ferguson Enterprises, Inc.
12500Jefferson Avenue
Newport News, VA 23602-4314
Division of Water Quality
Charles Wakild, P. E.
Director
Subject: Approved Plan Revision
Ferguson Enterprises, Inc.
Stormwater Permit No. SW8 040907
Brunswick County
Dear Mr. Rogers:
N 61k Ip 5" OIU?Ofo
Resources
Dee Freeman
Secretary
On March 23, 2012, the Wilmington Regional Office received a request to revise the approved plans for Stormwater
Management Permit Number SW8 040907. The revisions include reducing the previously -approved 69,353sf of
impervious area permitted on September 16, 2004 to 62,000sf to match the deed restrictions recorded for the
subdivision (Waterford Commercial Phases II & III, permit number SW8 010706) in Book 2735 Page 0049 on
January 30, 2008. It has been determined that a formal permit modification is not required for the proposed changes.
We are forwarding you an approved copy of the revised plans for your files. Please replace the old approved plan
sheet with the new one.
Please be aware that all terms and conditions of the permit issued on September 16, 2004, remain in full force
and effect. Please also understand that the approval of this revision to the approved plans for the subject State
Stormwater Permit is done on a case -by -case basis. Any other changes to this project must be approved
through this Office prior to construction. The issuance of this plan revision does not preclude the permittee from
complying with all other applicable statutes, rules, regulations or ordinances which may have jurisdiction over the
proposed activity, and obtaining a permit or approval prior to construction.
If you have any questions concerning this matter, please do not hesitate to call Georgette Scott or me at (910) 796-
7215.
*Sincere
Environmental Engineer
GDSlkpi: S:1WQS1StormwaterlPermits & Projects12004\040907 Offsite12012 03 permit_pr 040907
cc: Inspector, Brunswick County Building Inspections
Mr. D. I. Logan, DLBE Commercial Investments, LLC (SW8 010706, masterpermittee)
WiRO File SW8 010706 (Master Permit), Waterford Commercial Phases II & III
Wilmington Regional Office
Wilmington Reg*nal Office
127 Cardinal Dwe Extension, Wilmington, North Carolina 28405
Phone: [phone] FAX. [phone] DENR Assistance: 1-877-623-6748
Intemet. www,pcwaterquallty.org
An Equal Opportunity 1 Affirmative Action Employer
NorthCarolina
Naturallrff

State of North Carolina
Department of Environment and Natural Resources
Division of Water Quality
STORMWATER MANAGEMENT PERMIT PLAN REVISION APPLICATION FORM
This form may be photocopied for use as an original
I. GENERAL INFORMATION
1. Stormwater Management Permit Number: SW8 040907
2. Project Name: Ferguson Enterprises, Inc.
3. Permit Holder's name (specify the name of the corporation, individual, etc.):
Ferguson Enterprises, Inc.
4. Print Owner/Signing Official's name and title (person legally responsible for permit):
Ferguson Enterprises, Inc. (Owner) / Neil L Rogers VP -Facilities (Signing Authority)
5. Mailing Address for person listed in item 2 above:
12500 Jefferson Avenue
City:NewportNews State:Virginia Zip:23602-4314
Phone: (757 ) 989-2874 Fax: (757 ) 874-7795
Email:[e-mail]
Il. PLAN REVISION INFORMATION
1. Summarize the plan revision proposed (attach additional pages if needed):
BY;
III. SUBMITTAL REQUIREMENTS
MAR
E0E
2 3 2012
Only complete application packages will be accepted and reviewed by the Division of Water Quality (DWQ).
A complete package includes all of the items listed below. The complete application package should be
submitted to the DWQ Office that issued the permit.
1. Please indicate that you have provided the following required information by initialing in the space provided
next to each item.
lniti
• Original & 1 copy of the Plan Revision Application Form
• Two (2) copies of revised plans (must be revisions of original approved plan sheet(s)) 01 .liZ,
If applying for Express review (only available in 20 coastal counties):
• Application fee of $500.00 (made payable to NCDENR)
VI. APPLICANT'S CERTIFICATION
I, (print or type name of person listed in General Information, item 3) Ferguson Enterprises , Inc. by: Neil I. Rogers VP
certify that I have authorized these plan revisions and that the information included on this plan revision
application is, to the best of my knoj,%�e, correct and complete.
e-
Plan Revision Form Rev 13July2010 Page I of I

So
1111111111111Jill 1111111111111 8RcA,iitlt J. ZM PH36 � ,. =
B,...iek County, NC Rt9ialar or Weds pae. I er tT
�f Presenter
'1>a.,;y CAAv� l ��0.�sU�a-,3 Toral Rev .y�o/ Inn.
i Ck$ :,t ,: IV Cas $
Refund. ___ Gdst ? _ Finance
❑ Podwns et ur.::::,:et.e.. _ ,e d.Ri ;o mMNon
Oled6inial. _
Drawn By ❑r�D�o�cument mcla.ns ezl'vibfel by original
MY,, P. Kmer ��yY''�? �\Illnaumel ma; mroat be'e;obuced orcaped.
Block Cmuch, Keep, Bdun & SayuL LLP n
310 North Cront Street, Suite 200 (7 .
Wilmington, NC 28401 jl I,lj 1 J UUU ��ff�,,rv11
v IJv L /
THIRD AMENDMENT
TO DECLARATION OF COVENANTS, CONDIDITONS AND RESTRICTIONS
FOR WATERFORD BUSINESS CENTER
FORMALLY KNOWN AS
MAGNOLIA BUSINESS CARKI
STATE OF NORTH CAROLINA nLI n i rrLi
COUNTY OF'BRUNSWICK
J J �CUct
]HIS AMENDMENT TO DECLARATION OF COVENANTS, CONDITIONS AND
RESTRICTIONS FOR MAGNOLIA BUSINESS PARK (this "Amendment to Declaration") is made this
,197% day of January 2008 by DLBE Commercial Investments, LLC, a North Carolina limited liability
company, (the "Declarant"); L-W Investment Group, LLC, a North amlina hutted liability company;
and Exum Family, LLC, a North Camhnaslirnrted liabilyryitf /wptpai_, II of whom have a mailing address
of 60 Gregory Road, Belville, NC 28451.
NO yG� L y f4
RECITALS1zn
WHEREAS, maps of subdivision of certain land located in Brunswick County, North Carolina
were recorded on October 22, 2002 in Map Book 27 at Page 220 (Section 1), and March 10, 2004 in
Map Book 29 at Page 468 (Section 2) in the office of the Register of Deeds for Brunswick County,
creating "Magnolia Business Park" (the "Business Park") and a certain Declaration of Covenants,
Conditions and Restrictions of Magnelta Business Park was record on October 4, 2001 m Book 1507
at Page 22 of the Brunswick County Reg srry; whic bred c fla"im.resunchons, created certain rights and
imposed certain obligations on the Lots mltlie_Bgs hark; tind,
_ U u d0✓,✓X"26l' is
N mr , _
WHEREAS, said Declaration allows for'auiendmeuts under Article IX of said Declaration
vul r
provided that the amendment 1s signet by owners holding of least sixty-seven (67%) percent of the then
outstanding votes in the Magnolia Business Park Owner Association; and,
l
1
'''CSi�3'2tn
By,l�i 920
09

�82135 3�ea J.Robiroo�R�I.t.r f
WHEREAS, the Declarant amended the Declaration with the First Amendment which was
recorded on May 19, 2004 in Book 1946 at Page 1133 of the Brunswick County Registry; and,
WHEREAS, Stability, LLC, Ihe original Declarant, transferred all of its rights and obligations
as Declarant to Waterford Commerchil,htvestments, LLC under, that certain General Assignment of
Permits, Development Rights and other doeetrments.&ted[anun � cord4lVlay 27, 2004 in Book 1951 at
Page 554 of the Brunswick County Regist!, �ti�• L�
WHEREAS, Waterford Commercial InveslmenlQhL6thereafter changed its name to DLBL
Commercial Investments, LLC upon filing Articles of Amendment for Name Change with the North
Carolina Secretary of Stale on July 2, 2004; and,
WI I FREAS, the Declarant, which at the time held not less than sixty-seven percent (67%) of the
outstanding voles in the Magnolia Business Park Owners Association amended the Declaration with the
Second Amendment which was recorded�ga„April 21, 2( 06(-i Bti9k�75 Page 1412 of the Brunswick
County Registry: and,
�i `J'�i�
Z 5
1 m e lei _ dFV IT, Secti:
WHIiREAS, the Second Amendment unile�vAatielc VII, Section 2 allows for the Declarant to
add additional land to the Business Park so long as tQ taly&i54ontiguous to the Business Park and
occurs within three (3) years of the Second Amendment, and further to recombine or subdivide the
existing Lots in said Business Park; and,
WHEREAS, thereafter, the Declarant, which at that time held not less than sixty-seven percent
(67%) of the votes in the Magnolialtbusiness Park OwncrS-Asspiiation, caused to be recorded a
subdivision plat in Map Book 36 Page 184b4the B nswickZ.'duntylR' egistry, which further subdivided
certain Lots in the Business Park; and J r� fl O [ ��U —
! c�M
WHEREAS, the Declarant conveyed two certant!traets described by metes and bounds but
�..
comprising all of Lots 7 and 10 shown on the map recorded in ap Book 36 Page 189 to Exum Family,
LLC by deed recorded in Book 2484 Page 297 of the Brunswick County Registry; and,
WHEREAS, said Exum Family, LLC also is also the owner of two tracts of land that are
contiguous to the Business Park as described in the deed to Exum F mily, LLC recorded in Hook 2526
Page 1299 of the Brunswick County Regls{ry, and as fsurtherlide'nti�t as Lots I l and 12 in that map
recorded in Map Book 35 Page 226 of the Bnins Lt'k�f`Co�in-- Ct�egtstry;
O;u:
WHEREAS, the Declarant J�aonve ed I LS�,�rf�16e usmcss Park as shown upon the map
recorded in Map Book 36 Page 189 to L-W Investment GQu P, LLC by deed recorded in Book 2350
Page 1387 of the Brunswick County Registry; and,
WHEREAS, the Declarant, desires to further amend the Declaration, to add additional
contiguous land to the Business Park, to further subdivide existing Lots in the Business Park, to define
the specific rights and responsibilities'agyurtenant to and bitngiu1�on such subdivided lots, to create
easements for access and enjoyment for oavncrs of a l�F.o m the'BuSitsess Park, and to change the name
of the Business Park to "WAI'ERFORD \({5v>ri�. I:N - .R'�Cand.
�) 1J Uflp Wzw4-5'C2u7.
WHEREAS, Exum Family,'LLC concurs -,—it Wet tcnns of the Declaration and this
Amendment, and agrees to be bound thereby, and her destres to subject that property described in

B21'7CJ piJrW�NR�oQ�b
Illllllilllllfl ll�lllllllllllllllr Rfb rltls R i3 efa17�
the deed recorded in Book 2526 Page 1299 and in Book 2484 Page 297 of the Brunswick County
Registry, referenced above to the terms hereof, and for that purpose, for itself and its successors and
assigns, join in (his Amendment to subject all of its Lots identified herein above to the Declaration as
Amended and to this Amendment; and
&tll
nn
WHEREAS, the L-W Investment Ow up, j,L,F Loilt'zl2 ui\tti�'ihe terms of this amendment and
agrees to be bound thereby, and for That-purposes=lk�P'i41 Band its successors and assigns, join in this
Amendment to subject its Lot to the tet of this tAmendm6fft! arTVZid
�apn.
WHERIiAS, the Declarant, Exum Family, LLC and"C-W Investment Group, LLC which
together currently hold not less than sixty-seven percent (67%) of the outstanding votes in the
Association desire to Amend the Declaration as set forth herein as evidenced by their execution of this
document below.
t n�i
NOW, "I'FIEREFORE, the DecYar tl.pursuanl to theAlthocit�tFd powers granted under Article
IX of the Declaration and under Article VII6 rtI 2� f �hcSecond Amendment does hereby further
amend the Declaration of Co
'In its ar{d rRestr)cwbarr5,`of Magnolia Business Park as set
forth herein, and Exum Family, LL.CI en L-W9Investment Grroup, LLC, for themselves and their
1 .i u-llr�.
successors and assigns, do subject their respective propertie denfified herein above, to the Declaration,
as Amended heretofore and as further Amended hereby, with the intent that their properties shall be
held, sold and conveyed subject to the easements, restrictions, covenants, rights, responsibilities and
obligations applicable to all Lots in the Business Park, and thereunto to bind any parties having any
right, title or interest in the said properties, and their heirs, successors and assigns, all of which shall run
with the properties of the said real IiA5per y and shall more to the -la uueefit of any and all owners of Lots
in the Business Park. t 9,���10
pl0 11 V:vsID r1_1r_ vl
[/c4 n_
A. The name of the Business Park, including reference8; roall previously recorded plats for Magnolia
Business Park, and all subsequently recorded plats of4e properties, shall be and is hereby
changed to WATERFORD BUSINESS CENTER. References herein to "Business Park" shall
mean Magnolia Business Park, which shall hereafter be known as WATERFORD BUSINESS
CENTER.
B. The applicable Sections of Artrcle4I of the DeclpratiT 911� t tided, shall be further amended,
modified and supplemented as follows:, r ��.3f
LOr�� L
cuff
✓nr o, r,
ARTIC T%Z,74
DEFINITIONS
Section 1. "Association" shall mean and refer to WATERFORD BUSINESS CENTER
OWNERS' ASSOCIATION; ;INC., a North Caroling nofTprofit corporation, which is the
successor by name change to MagnR, lia Nin jn_esl.Park�� wgers� Association, Inc.
Section 3. "Common A Are J)tahp�m IIeJa�n allltiJieirF.%au$ipersonal properly, and interests
[herein, now or hereafter owned or ,,t c, Assceunion for the common use and
enjoyment of Owners, as providedo er the Declaration>as amended, including but not limited
to those private streets, roads or alleys, easement areas upon lots which are for the common use
and enjoyment of the Owners, the retentionidetention pond referred to in the Declaration, and
shown on the plats of subdivision recorded in Map Book 46 Page 15 and Map Book 47 Page 73
�rj

LL
GIIII�(IllllllW.11lllllll�llllllllr B?i,P003s.;�a,3maa
of the Brunswick County Registry, and any other areas now or subsequently identified as
"Common Areas", "Common Elements" or similar designation on any recorded map or plat of
subdivision for Magnolia Business Park, or Waterford Business Center. Without limiting the
generality of the foregoing, r"Common Area" shall specifically include all roads, drives and
driveways, access easemer;undtans and landscaped �reas, curbs and gutters, utility
casements, sanitary sewer and a --- atcrl — 3 �,; r'sy 12ms which are shown upon the
maps entitled "Waterford Business' e—(, r;[rcd 7, 9-18 recorded on December 4, 2007 in
'B 1wi
Map Houk 46 Page IS of the B swtck��Coun�lyf R""&e€fryFonnto Plaa1Recorded uin'M.0 47,1Pg
(Formerly Magnolia Business Center), Lots 3r4,t`r,l /
12", recorded on January 24, 2008 in Map Book 47 Pagc 73 of the Brunswick County Registry .
Section 6. "Lot" shall mean or refer to any numbered or lettered plot of land shown upon
any recorded subdivision map of properties including any further subdivision of those lots and
any additional lots added lo,the subdivision as permitted he QQin with the exception of common
areas, streets and roads. At the time of this AmendmFrt htk;-Peclarmion the lots shall consist
of Lots 1,2,3 and 4 as said Lot Iyisesh rl Inap, b6Seiuon 1 of Magnolia Business Park,
cl� which is recorded in Map Cabin�?✓ ag 2Y0 q�C�the.,E3J.µu4ts�wick County Registry and as Lot
2 as shown on map of Sechon2 oaf Magn'olia�fr3ftv��' M�" Park, which is recorded in Map Cabinet
29 at Page 468 of the Brunswick County kegislry.=andZfiurther shall consist of Lots 4 and 5
WolRrap Subdivision as shown upon the map recorded in Map Cabinet 19 at Page 481 of the
Brunswick County Registry, and further shall consist of Lot 8, as shown on the map recorded in
Map Book 33 Page 325 of the Brunswick County Registry, and further shall consist of Lots 7,
9-I8 as shown on the subdivision map for Waterford Business Center recorded in Map Book 46
at Page 15 of the Brunsw&,County Registry, and l�is\ 4, 5, 6 as shown on the map of
subdivision of lots in Wmerf it Business �Cbcn erLrd:urd -lib Map Bonk 47 Page 73 of the
Brunswick County Registry. Lot., As)��si4nWd on the Maps recorded in Map Book 46 Page
15 and in Map Book 47 Pageb'Qhhe/Brunswick"-F-'N5 tj+,Registry is designated for use as a
retention pond for stormwater runoff shal)rbe=p'ult of the Common Area as defined inthese
Covenants. �S
Section 11. "Architectural Committee" means the standing committee of the Association as
specified in Article VI of the Declaration, to approve the design, construction, operation, use,
appearance and such other�,requirements as set forth herein, of all Buildings, Structures,
landscaping and other improv vents erected or to 4e eeecte (rum time to time, on any portion
of the Property (together with all a&/0io�_ fm ifca`iuns?additions, deletions thereto).
Section 12. "Assessment$/shall mean-and:cefer collely to all assessments ofany kind
o-i
or nature provided for in this Declarationy(inciudm,twilhout limitation. General, Annual,
Special and Specific Assessments).
Section 13. 'Board" shall mean the duly elected and constituted Executive Board of the
Association. fI
Section 14. 'Bylaws" shalLll f an the�yla vj�e ss�ueiation, as amended from time to
time. �� /1 �� II��
fl Iin R (� U4^^o r,.^.n
Section 15. -Special Assessment shalhhaygttie in6�aitu5hscribed to such term in Article V
(B) Section 3 of this Declaration, as amended-17v.�
V`y
l_� ✓ ✓nn3/4�_

P 1 EEP1ll L111lllllllllllllllll I?35 PM40,u, s U No
" erunsak- ty, MC Ritalstar or Dade pap. S or 17
Section 16. "Specific Assessment" shall have the meaning ascribed to such term in Article
V (li) Section 4 o f this Declaration, as Amended.
Section 17. "Registry"s all�tmean the Office of the\Ilfagister of Deeds of Brunswick
County, North Carolina. vl —i J, ICJ
�j
hasLi
C. All of Article II of the Declaration, as,errunded, islie"reTi`y-8eleled and the following Article II
w.✓a
shall be inserted in place thereof:
ARTICLE 11
v,
RQPERTY RIGHT
Section 1. OWNER'S-EAS�:�t1EN f5 OF ENiayhaF a. Hvcry Owner shall have a
right and casement of enjoyment in andoo reand the Commml-Aaeasements shown upon any plat of the
Business Park, whether now or hereafter recorded, which shalfb$_appurtenant to and shall pass with the
title to every Lot, subject to the following provisions.
(a) the right of the Association to permit the use of and to charge reasonable fees for the
use of the Common Area,
(b) the right of the Ass"tion to suspend the vot i trff$his of an Owner or Occupant for
any period during whfch&ny ass rnn`(i�(aiitst�llis' Lot remains unpaid or for any
infraction of its published rate a egiirrllaahons;
(c) the right of the Associatoi o grant mseiffedi"s7duif rights of way to others, and to
C ,
dedicate or transfer ail��i or" any part
-of dietirerntin Area to any public agency, authority
or utility for such purposes and subject to such conditions as may be agreed to by the
Association consistent with the terms of this Declaration and the Articles and Bylaws of
the Association. Provided, however, that no dedication or transfer of any Common
Area by the Association shall be effective unless an instrument signed by (i) two-thirds
(2/3) of the Members and (ii) Declarant, so long s Declarant owns any Lot in the
Business Park, agret:4,t¢.such dedication(op�?nr- 1,has been recorded;
(d) the right of the Associati n kr i1g 'e �rcyul �tions for the use and enjoyment of the
Common Area and any[' rl Iv m is vthe�eoal_w h regulations may further restrict
i i �,� a,vu w.
the use of the Comm"oin Area; airal pfCC��a
(e) the right of the Association in accords eelw¢h its Articles and Bylaws, to borrow
money for the purpose of maintenance and/or improving the Common Area and
facilities thereon.
Section 2. Private Roads. In the development of the Property, the Declarant may construct
certain private streets, roads and acces'sways within the Business Par "connecting Lots to public rights -of -
way. 'rhe Owners shall have no more Ih'an a nonJ Lctusi� aPem 1m for ingress and egress over and
across such private streets for the ssc�l�I-es;lt d rt,erlants, chents, customers, agents, employees,
representatives, ire-sf ll,be no pdblicalghmof any kind therein except as may
mmo.�
be dedicated by [he Ueclarant. Declarant reservesgunto riset f,iLs.successors and assigns, all easements and
rights of way over the private streets, roads and accessways-and Common Areas for ingress, egress,
utilities for access to and development of Lots, or any other property, whether located within the Business
Park or outside of the Business Park.
Plnn-

r;,���GNNINIIIIIfl lll�lulllllR.gi t. 17 �'�J ' Robert J. Rebinnon
�Ugrunaulek- Dori y, NC Rap Llar of panda papa a of 17
Section 3. Reserved Bleats. Declarant reserves unto itself, its successor and assigns
the following rights:
(a) the right to complete improvements indicated on its plats and plans;
(b) the right to exercise any devpl4_pment rights: � 1 (�
(c) the right to use easements 1l wgh I�e-comrn , elerii ins for the purpose of making
improvements within the Properties &)wtd%n rea}estate which maybe added to the Property;
(d) the right, during the period pi develo menl, �to'v'9banddit easements, realign or relocate
m vaG'��� provided
easements, and create easements, over and�aemss-any Lot in the Business Park, p
however, the right reserved hereby shall not be used''or applied in such a way to materially
impair any Owner's reasonable rights of use and enjoyment of that Owner's Lot; and,
(e) the right to convey one or more perpetual, non-exclusive easements over, upon, above or below
the private streets, roads, accessways, utility easements, drainage easements, and all other
easements or Common Areas for the Business Park, to onnor more persons, Associations or
entities, but only for such puiplse as is specifica(lyl deal ted on any and all maps for the
Business Park recorded in the Regtster, f- ecds`_ fbe Bmnswmk County.
r0 ��'U
TeserSection 4. Changes De rao6(,herem biy reserve ,he right, in its sole discretion, to
change, alter, designate or redesignate streets, roads,"adcess'>"vays, medians, drainage facilities and
easements, and to change, alter, designate and/or redesignate such other present and proposed Common
Areas as may, in the sole judgment of Declarant, be necessaryor desirable within the Business Park and/or
any other adjoining tracts of land, except that Developer shall have no right to change, alter or redesignate
the character of the use of the Lots in the Property.
Section 5. Services. �`f easem tC is=he7e�iyJngt�Rttd to all police, fire protection.
ambulance and all similar persons, compatai_es-p a foes per(orining emergency services to enter upon
the Lots, easements and Common xirJ& htl Iht/"p'Vi�Tfgnn oi,` lhh2ii Cfuties. Also, an easement is hereby
established over all Lots, easements and Common Arcfs;i£or, c benefit of applicable governmental
agencies for the setting, removing, and reading of water meters, nLnmtaining and replacing water, drainage
and drainage facilities, garbage collection and delivery of mail.
el*
D. The applicable Sections of Ad cie1V of the Dec a/rm(iQin 95 amended, shall be further amended,
modified and supplemented as follows: 0 (—
Il..,lvlrJi Y7i47."U7y""W,'
ARTICLE IV
MEMBERSHIP AND VOTING RIGHTS
Section 1. Members. Every fec simple,Owde�-b Lot shall be a Member of the
Association during the period such Owner t oWs-nsfte��rttmp{emterest. 1C fee simple title to a Lot is held by
more than one person, each such person �il.n �a Mbni - r,hu( hp yr r.oling rights with respect to such Lot
shall be exemisedjointly in the manricr. h�erse n`aftetpyv dcdAn Uwner of more than one Lot is entitled to
one membership for each Lot owned. Cach memberslp ovapp- _cnam to and may not be separated from
n�11_

Ill����r �2135 1. Ro a�
� � er,mwt¢It.= 17
the Lot upon which it is based and such membership shall be transferred automatically by conveyance of
fee simple title to that Lot. No person other than a fee simple Owner of a Lot may be a Member of the
Association, and a membership in the Association may not be transferred except by the transfer oriole to a
Lot.
Until annexation of addilionarWropertres by Declarant. further recombination or subdivision
Lots as allowed inArticle VII, Section 2, the vote all tons fog cacli)lint shall be as follows:
Loll � �IAV(JllS
2 v'
3 2
4 I
5
6 v. 3 n
7 n�Cp MONAREA
8 'G �>z
90 r f (:(CD))ytil:,3.;:
11 C�9G'✓C��17�T
12
13 1
14 2
15 3
16 2
17
18
"total Votes
In the event Declarant exercises its rights to annex additional properties into the Business Park,
or existing Lots are recombined or further subdivided pursuant to Article VII Section 2, the following
formula shall dictate the reallocation of votes and assessment liabilities: the smallest lot (measured by
square footage) within the Association shall be assigned one vote. All other lots shall be assigned a
vote as follows. any lot whose square" Cage is less than.l5imQ,°/a of t f smallest lot shall be assigned 1
vote, any lot whose square footage is more[lian SQj.e,o(fhei9nxxrll'est lot and less than 250% of said lot
shall be assigned 2 votes and all otherioisl%te srgnarc f�pgrA.1ore than 250% of the smallest lot
shall have ✓13enomore than one person h Ids an interest anyilbt, all such persons shall be Members.
The vote or votes for such lot shall be exercised as they among themselves determine, but in no event
shall multiple Owners of a lot be entitled to cast more than the vote to such lot.
F. All of Article V of the Declaration, as amended, is hereby deleted and the following
Article shall be inserted in place the&R,""
J�[�
U0 �' aanacm
cov
IIV

r ' �111�I�I�a�fkuNIIIIII�IIIIIIII jL7 PO 61_]a_Zaea
w,rs as Me
Rober! J. Robineen
BeaneapakJ1r�ly, NC eplstar of nude pope 8 of 17
_ e
ARTICLE V
COVENANT FOR MAINTENANCE AND ASSESSMENTS
A. Common Areas. 141
(�(/���J
Section L The Common Msl" abject ta'-41%�rigfif9i�of Owners and Declarant as set
forth in (his Declaration, the Association has exelusiveirlisn dement and control of the Common Areas
and all improvements thereon and all personel property relating thereto
(a) The Assncianons duties with respect to such Common Areas include, but are not limited to, die
following: (a) the maintenance of tire Common Arco;(b) the management, operation, rnsuintcnmot repair,servicing,
replacement and renewal of all lardscaping, improvements, equipment and personal property constituting pan of the
Common Areas or located upon the Com `mWTAmas so as to keep all of dr✓umgoing in goal, clean, attractive,
sanitary, safe and serviceable condition, order�andl , c)ralb �aMLuapmg of die Common Ames; (d) the
mainteiance of adequate public liability;ropcn�Y pstulry lhaaiardagaFzLec for the benefit of the Association
with respect to die Common Areas; (e) the payment ofut3 _tsmolatd assessments validly levied, assessed or imposed
with respect to Common Areas; and, (f) the management, opera(iiiI runtri erunce, repair, servicing, replacing and
renewal of all Roads and all improvements thereon; provided, however, that following the irrevocable acceptance of
the Roads for maintenance as public rights of way by the applicable governmental entities, the maintenance
obligations of the Association for the Roads shall only be die extent such activities are out perfonmed by file
applicable governmental entities. The Association may also provide other services, such as, but not limited to,
securely services as the Association dcerm appropriate.
(b) In the even[ that the nleix\S IrpFL enaneevpon or replacement of the Common Areas
is caused (i) by construction activili'cs on all Lot by an Owria7ziry nients or contractors, or (ii) by the
willful or negligent acts of any Owner or its agents oFCtpn!rgetors, then the cost of such maintenance.
�..
replacement or repairs shall he home exclusively by such Owner;,,`shall be added to and become a part of
the assessments to the Lot or Lots of such Owner, and shall constitute a Specific Assessment
(c) To insure continuity and to protect property values, Declarant may in the exercise of its discretion
require that all landscaping be done and performed by the same entity on all Comnnn Arcs and all dots within the
property In the event the landscaping is to "TerFomad byo'nc.colfity�ffiI�iarges therefore shall be reasonably
allocated to the Lots by the Association and Ili /_�,� Mlle
Section 2. Services. •tiro Associatiinrstay obtaan ard�pay for die services of my person to
r, .,,a
manage its affairs to the extent the Board dams advisable, as-wel�;zjv such other personnel as are fianishel or
employed directly by the Association or by any person with whom it contracts. Without limitation the Baud may
obtain and pay for legal and accounting services necessary or desirable in connection with the Common Areas or its
duties and rights under this Declaration the Articles, the Bylaws and/or die Rules and Regulations (as defined in
Section 5.04 herein.); provided, however, the Declarant shall bear all costs to establish this Declaration and
related documents required to establisaB,Ute Association. n
Section 3. Properly Owned\j , 1 11 eiaOp fhe Association
y acquire, hold,
and dispose of real property and tan@bletar�d'intaugible peisona-prafierty, subject to such restrictions as
from time to time may be coniained'in the Articlesarid_Bylaws. The Declamnt agrees to convey to the
Association (by casement or in fee simple) the then-estabh4he,Aommon Areas within three (3) months

- =[IIII II I'IIIIN nlll�ll IIII III II I IIII III 1810 PJMR41,iiusM 3400aa
BrvizYtcir,"tat$ty, M Re9later of Duda Oa9e 9 of 17
J it , i ; J V ����✓�
following the conveyance by Declamnl of all Lots in the subdivision; provided, however, the Declarant
shall be entitled, in the Declarant's sole discretion, to convey all or any portion of the Common Areas to
the Association prior to the deadline provided above. The Association shall accept title to such Common
Areas subject to all easements, encumbrances and restrictions of record All costs, if any, associated with
v
such transfer or assignment shall be bomcky the Declarant ��
r
Section 4. Rules and Regulations.)Lp[rcThe Association, through its Board, from time
to time, may adopt, alter, amend, rescindl,'and\cnfarce.reasona6l"irmIcs4nd regulations governing building
and maintenance standards for and the use, enlo m6firad,oB�ere.tion of the Property (including, without
limitation, all Lots, the Common Areas, Parking Areas, and any combination thereof) (the "Rules and
Regulations"). The Rules and Regulations shall be consistent with the rights and duties established by this
Declaration (although same may further restrict the use of the Common Areas). The Rules and
Regulations shall be binding upon the Owners, and the Association shall have the right to establish
penalties and fines for any infractions of this Declaration, the Articles, the Bylaws and the Rules and
Regulations (including, without lirnitali��tonetary for andl1i-b�'[tther�elions for violation of the rules
which may be collected by a lien and f�'rlostra�e�5pc.: fie Assessment) The validity of the
Association's Rules and Regulations' �aitd�thefr•�en rcertt�n4yu;ybe determined by a standard of
reasonableness for the purpose of protecting the Glue -and, of the Property as a first class
project. rT11(11
Section 5. Implied Rights The Association may exercise any other right,
power or privilege given to it expressly by this Declaration or Bylaws, and every other right, power, or
privilege reasonably to be implied (Tom the existence of any right, power, or privilege so granted or
reasonably to effectuate the exerciseu 3flq�liy right, power, o�rivite so granted. The Association shall
have the power to do any and all lawful thi-�+$,whic�F maybe��t]thim z ' required, or permitted to be done
b
by the Association on under and by vat f (h�s=l�cclamnon and to d
which may be necessary or proper fov go and perform any and all acts
iti4tdeN Gavto, tlre'Cerc'fst="6f=any of the express powers of the
Association for the safety and/or genera It C, nem. Without in any way limiting the
generality of the foregoing after five (5) days' written notice witfi- specified time stated to adhere to the
provisions set forth herein, the Association shall have the power and authority at any time and from time
to time, without liability to any Owner, to enter onto any Lot for the purpose of enforcing any and all of
the provisions called for herein, or for the purpose of maintaining and repairing any such Lot if; for any
reason whatsoever, the Owner thereoffailsto maintain or repair suq Lot as required. The Association
shall also have the power and authority p't me to time,.in its,,¢name, on its own behalf or on behalf of
any Owner or Owners who consent thereto t(gcUNnvf�.and=lnatntam actions and suits to restrain or
enjoin a breach or threatened breach ofl-di s[Becla'mtion,`the�A.(utc".a yd Bylaws of the Association and to
enforce, by mandatory injunction or'otherwise, the'p"fovisinns of the Declaration, the Articles and Bylaws
of the Association. �V
Section 6. Conveyance and Acceptance of Permits. The Declarant shall assign and
transfer to the Association all applicable regulatory permits including stormwater retention and all
modificalions thereto, including all duties and responsibilities thereunder. The Association by and through
the Members shall be obligated to act4tamnsfer of the permit and such rights, duties and obligations.
,Q S(VJ]L 1I%
B. Assessments. n,� (� ���j
Section 1. Assessments Established.
(a) General Annual Assessments as provided in Section 2 of this Article.
(b) Special Assessments provided in Section 3 of this Article.
'tic

n fl
'� I�IIIII�IIhNlnlllllllllllllltill111 s?735 aaa451la on 3:°Daa
IBnivuu _hVF,"Jty NC Re Isle, of BeeGa peon 10 0( I]
(c) Specific Assessments as provided in Section 4 of this Article.
All of the foregoing (together with interest at the maximum rate allowed by law, court costs, late
charges, charges for reasonable attorneys' fees and all costs and expenses of collection) are continuing
charge on the land and are securedcontinuing lien again§t�wl'ich such assessments are made, as
provided in Section 7 below. Each assessmetlF(to et�lf r_W-Ril n5est.at=lhe maximum rate allowed bylaw,
court costs, late charges, charges for reaxrxial{�ile"a,II oes �ys=feand all costs and expenses of collection) is
also the personal obligation of the person wfloivas I c Ownei.oE'sue T..m when such assessment became
due and is a lien on the Lot, which lien will remannindrl he=(;ofeven if title to the Lot is transferred to any
other person or entity whether or not related to the Owner; proid/ed, however, the personal obligation for
delinquent assessments shall not pass to the Owners successors in title unless expressly assumed by them.
Co -owners of a Lot shall bejointly and severally liable for the enure amount of the assessment.
Section 2. General Annual Assessment. The Genend Annual Assessment shall be used
exclusively to promote the recreation, health, safety and welf the ?wners of lots within the Business
Park, (i) the operation, management, mainlenane¢,.y air �so_fvleing, security, renewals, replacement and
improvement of the Common Areas FatdJbthb',L'rCSpcnisi. bi4K, i Cie Association set forth in this
Declaration, (ii) taxes assessed on thL& mon Area"sz(ih ,ui;uraace on and with respect to the Common
Areas (including but not necessarily limited to liability, haiai fain , and hail insurances in such amounts
as deemed appropriate by the Board): and (iv) all other general activities and expenses of the Association,
including the enforcement of this Dcelaralion, including but not necessarily limited to the payment of
costs and expenses relating to:
(a) The Stonnwater Pond anCiPassociated retention faciLities,malIi�in,tenance and repair and
^� qer re htion units
compliance with ail terms anJSiandiuo�yq�if5jgnng r Ar i pc
(b) Maintenance and repair ofdrair�e�d&`U�ililyl-easements;
(c) Maintenance, cleaning, repai1. ssand rep.Lcement dFiiiry TrNUc access roads, except that
private drive easement whsh runs f�omytWiit'erford Business Center Way to Waterford
- /
Commercial Property and shown as "Existing 24' Central Access and Utility Easement" an
Y
the map recorded in Map Book 36 Page 189 of the Brunswick County Registry;
(it) Storm repair replacement and cleanup;
(e) Street lights and all other utilities:
(f) Street light maintenance:y„
(g) Common Areas general maiinegance and reserve
(it) Street and sidewalk snow removal;, ,, �(-L)
(t) Liability, hazard, wind and hai�nai� ofl©ffffq
Q) Officers' and directors' insoiance; ✓G,��L� a
(k) Tax preparation; Lae
(1) Bookkeeping and Management Agent fees,
(m) Office supplies/check printing;
(n) Property taxes on Common Areas; and,
(o) Common signs and sign easements,
The General Annual Assessment p ided for, Iemfnfshall commence on the date of conveyance of
each Lot to an Owner other than Declarant -a d'sij$r`kbjpro mted ased upon the number of calendar months,
or portion thereof; remaining in the f sclal yes h�rin h%hich the cbVauB'AWr;of each Lot occurs.
�c Section 1Special Assessments. In addiuoh'lh'Iw the General Annual Assessment, fife

n
IIIIIIII�IIIIIIII BRepbier! 011-. 3
01
O24
3' Robinson
��y, NC ep1sNr of Deeds peg. It 001907nw
00
Association may levy a Special Assessment for the purpose of decaying, in whole or in part, the cost of
any acquisition, construction, reconstruction, renewal, repair or replacement of a capital improvement
upon the Common Areas and for such other purposes as may be determined from tune (o time by the
Board, provided such assessment first is approved by a vote of two-thirds (2/3) of (he votes cast at a duly
called meeting of the Association, subjed,to the quorum requiremenlsRstablished by the Declaration and
Bylaws, and subject to the requirement that w7ttten nfoli,ST'tfie�tteeh g-and of the proposed action is sent
to Members of the Association at least lens! OJcl�y3 prior m such meeting but not more than sixty (60)
days prior to such meeting. Any such $'peci l�Assessmenl W,TFFeeyable in one or more installments
with or without interest as the Board determines. "6UL�
�ft7i11q
Notwithstanding anything to the contrary contained in this D@claration, the Board may, at any time
and from time to time, levy a Special Assessment should the Board determine (hal (here shall be a deficit
in its receipts versus its operating expenditures for any fiscal year of the Association. 'I'he purpose of such
Special Assessment shall be to defray any such deficit. Ratification of the levy of this Special Assessment
shall be required by a simple majorityvote of the votes cast at a duly called meeting of the Association for
the purpose of acting on such Special Assessment sub mi tnutfib/r 14.mment that written notice of the
ti
meeting and of the proposed action is sent to the -Me" bf (b�Assoeation at least ten (10) days prior to
such meeting, but not more than sixty 60) da0rs firi it tb� such mccung
J V 017,rN+( 7
Section 4. Specific Assessments. The cosos'a�ri' 'k crises associated with the operation,
management, maintenance, repair, servicing, security, renewals, replacement, landscaping, landscape
maintenance and improvements to that private drive casement which runs from Waterford Business Center
Way to Waterford Commercial Property and shown as "Existing 24' Central Access and Utility
Easement" on the map recorded in Map Book 36 Page 189 of the Brunswick County Registry shall be
assessed to, paid by, and shall be a lien'ypon all Lots in the Business Fork except Lots 1 and 2 (who shall
have no responsibilities to share in those coos) (the "iSpecificcdasess ent Lots"). The allocation of such
assessment responsibility shall be bomclNi aally�Wth�c�Specific Assessment Lots. Such Specific
Assessment tray be levied together with or,
Assessment the-'fieiternEAsscssment, as determined by (he
Board. J y ve•✓ohs
C �ai
Additionally, a Specific Assessment may be levied again. any specific Lot or Lots in the event
the Owner (or Owners) of such Lot (or Lots) fails to pay such indebtedness due to (he Association within
thirty (30) days after written demand therefor: (1) any and all accrued indebtedness of any Owner to the
Association arising under any provision of this Declaration, arising by contract (express or implied), or
arising because of any act or omission of any Owner or person for wose conduct such Owner is legally
responsible or to cover the costs incurtechin bringing �LolynIib�0� p�iance with this Declaration, the
Articles, the Bylaws or the Rules and Regulations IIop(he ArSSIX[I3P(Dn; �(2) any common expense or portion
thereof benefiting fewer than all of thcjLot�IW.11 l�-3) any rosysipc ed by the Association to bring the
Common Lot(s) or Comon Areas in'm' )eompliam.e �wnh.the temu of these Restrictions, the Articles,
Bylaws or Rules and Regulations caused by the failure of Owne4'-r, the Owner's agents, lessees, guests, or
invitees, to comply with such provisions (including, without limitation, any acts of negligence or
misconduct). In the event any Owner fails to perform any obligation required herein, the Association may
perform such obligation on the Owner's behalf, assess a fine for such failure to comply, and levy the cost
of such performance or remedy against the Owner and the Owner's Lot(s) as a Specific Assessment
hereunder. � /a /�>�fl
Section 5. Amount; Due Dates.5i!uljasS ssment period shall he the fiscal year The
amount of the General Annual Assessmcrit�delemuned m-cco-t81n25cwith a budget prepared according
' _
to the criteria contained in Section 2.'shall be fixed by thcBoard on or before January 1 of each calendar
year. Further, the Board shall likewise prepare a budget far [tie=Specific Assessments as contained in
Section 4, and fix such assessment on or before January l of each calendar year. Written notice of the
assessments shall be given each Owner. The Board shall establish the due dates in its discretion The
General Annual Assessments and the budgeted Specific Assessments shall be paid at least annually,
""vim

+J,,CJb�VIA! Oil, I��II�IIIIIIIIIIIIIIIII �Rab�ar! pJ�. R4e1brq1n0's-e'1°9n-
'A�l a000
vy NC Register of OeeEs page 12 a( 17
although the Board may require them to be paid more often. As to each Lot (but subject to Section 4
above), the amount of each assessment shall be the sum obtained by multiplying the total General Annual
Assessment amount as described above by a fraction having as its numerator a number equal to the gross
square feet of Owners Lot and as its denominator a number equal to the total square footage of all Lots in
the subdivision. Y"
Section 6. Commencement:\n�Twe assessments provided by this Article will
commence as to each Lot on the date'of the conveyance of die tFtoVn' Owner other than Declarant.
..`j�Gr"Pi
Section 7. Assessment Lien. All sums assessed to any Lot (together with interest at
the maximum rate allowed by law, court costs, late charges, charges for reasonable attorneys' fees and
all costs and expenses of collection) are secured by a continuing lien on such Lot in favor of the
Association. Such lien is subject and inferior to the lien of any Mortgage encumbering such Lol; but all
other lienors acquiring liens on anyA of after the Declaration is re45•yyrded are deemed to consent that
such liens are inferior to the lien eslabllstiL•al.,byDeclar:aitioo�i� whe116er or not such consent is set forth
in the instrument creating such lien. The re�i•`f'ordi PiYii� rlediwa,hon constitutes constructive notice to
all subsequent purchasers and credoFs:�o� ii li[�oC ihe�e,.,i,,gieuticc�t.nf the Association's lien and its
priority. The Association from ume to time ma3 6dCuis-i nol-required to do so, record a notice of lien
against any Lot to further evidence the lien established by ti11a=DCChmuion.
Section S. Association Remedies. Any assessment or portion thereof not paid within ten
(10) days after its due dale is deemed to be delinquent and shall bear interest at the lesser of (i) the rate
of eighteen percent (1 R%) per annum or (ii) the highest rate permitted by applicable law from the date
of such default Further, and wilhouPiltiung or reslrictin any Q�1)Cr remedies available, any Owner
who fails to pay any assessment after tcd(•Y'{)1 day haFl"`4$zs's ed-n late charge in an amount of five
percent (5%) of the assessment which is dg�jiuryu inVLennd-suet amount shall be added to the assessment
owed and shall become a lien pursuanJlki5 cNomL7�above. Wu`r1Weer?4lie Association shall be entitled to
uii J
enforce all remedies of the Associaton provided—fiercaAr7 delinquent assessments if such
delinquency continues for thirty (30) days following written dertiand by the Association to cure such
delinquency. Upon an Owner's failure to pay ant, installment which installment payments are permitted,
the Association may declare the whole assessment, including late charges and interest, immediately due
and,payable. The Association may sue the Owner personally obligated to pay such assessment for a
money judgment and/or may foreclosq.its lien against the Lot. A so to recover a moneyjudgment for
unpaid assessments may be maintained? ithoul foreclrsiq$��waillg, or otherwise impairing the
security of the Association's lien or its prro(iloVii (�ioael�iiay waive or escape liability for the
Association's assessment by nunuse of the tFomsion Areas or,hyabaadonment of such Owner's Lot.
lJ�u�"C�iG✓�n� n._
Section 9. Foreclosure. The lien for sum assessed pursuant to (his Article shall be
deemed a mortgage for the purposes of, and may be foreclosed by appropriate action in accordance with
Article 29A of Chapter 1 of the North Carolina General Statutes, or may be foreclosed in any other
manner permitted by law. In any such foreclosure, the Owner is required to pay all costs and expenses
of foreclosure, including reasonable altomeys' fees All such costs and expenses are secured by the lien
foreclosed. Such Owner also is req&'red to pay the Associatipiral lassessments against the Lot that
become due during the period of foreclosurc_wh,ic� alsolI a�le s]P.firrf -wy the lien foreclosed and will be
accounted and paid as of the date the Qw c's-jiyyli e��6di� xtcd by foreclosure. The Association has the
right and power to bid at the foreclosuic� i oiheClegal sale'r76`acejdirathe Lot foreclosed, or to acquire
m..
such Lot by deed or other proceeding 'in�lieu o(Coreebsu?c0111 thereafter to hold, convey, lease, rent,
use and otherwise deal with such Lot as its owner. If any foreclosure sale results in a deficiency, the

.,{� II�IIIIIII�IIIIIIthI�IIIIIII IIIIIII Robert] Robinson
8213� P9048 m,_,m_ammm
,m is 34.000
Orms�l k NC Rm fete, of 0eods q y q pe • 13 of 17
Owner shall remain liable therefor. The Association may not own or otherwise acquire Lots except
pursuant to foreclosure of the Association's hen or pursuant to a deed in lieu of foreclosure of the
Association's lien.
Section 10. Subordination of Liens. The hen�pmvided for herein in cone ction
with a given Lot or Lots shall be suboi3nvate to hedfei o}Iany,Mbrtgage that is of record as an
encumbrance against such Lot or Lots. �he�yale artr�t�'sfbr ot� ny Lot pursuant to a Judicial foreclosure
or foreclosure by power of sale of a`Mortg'age edcui be'id�3an""Y'=b.3ftshall extinguish any subsequent
assessment lien which has attached and become effectiWei i�tcgard to the Lot being so transferred,
and shall prohibit the creation of any lien against such Lot on account of expenditures which became
due prior to the date of such sale or transfer; provided, however, that there shall be a lien on the interests
of the purchaser at such sale which shall attach, be created and become effective. and be foreclosed in
accordance with this Declaration and which shall secure all assessments becoming due alter the date of
any such sale or transfer. For the purposes of this section, a sale or transfer of a Lot shall be deemed to
occur on the date of recordation of a dexrl or other instrum J+tt`gftV evidencing the conveyance of
record title to the Lot. 17,� [vim
Section 11. Working Capital. AF)the timc Tine to a lot is conveyed to an Owner by
Declarant and in every transaction thereafter involving th&lsale of the Lot, each new Owner shall
contribute to the Association as working capital an amount to be designated by the Declarant (such
amount not to exceed the amount of the total General Annual Assessment due relative to such Lot
during the calendar year of such conveyance). Such funds shall be used for operating and capital
expenses of the Association such as prepaid insurance, supplies and the expenses of maintaining the
Common Areas as provided herein. Anmunts paid into the workjng capital fund are not to be considered
as an advance payment of the General Annual AsSpsLsin t�i'All�iv9rking capital funds shall become a
part of the general operating and revenue-fWWW As iidiaHon
�� �� 011slDff
Section 12. Exemption bf DecI rant.' 35otwithpriding anything to the contrary
contained in this Declaration, Declarant shall be exempt from"lhe payment of Assessments for any (i)
unsold Lot(s) owned by Declarant which are unplatted or platted of record in the Registry and (ii) any
other portions of the Property owned by Declarant.
F. Article VIL Section 2, of the Declaration, as amended, is hereby deleted and shall be replaced
with the applicable Section set forth low, and further, tlicl�, gill is modified and supplemented
hereby as set forth below: ������
Jr 1 y D f3C
I' " RTICLE VI�
AI-�
LAND USE, ADDITIONS RECOMBINATIONS,
INIPROVENIENTS AND RESTRICTIONS
Section 2. Additions,'Recombination and Subdivision of Lots. The Declarant reserves
the right to recombine and subdivide m' Lots w����rclrrrafr bwued,by Declarant at the time of such
recombination or subdivision, and to add��ddij 9a'lahit to''& Business Park so long as the land is
contiguous to the Business Park andoccs�svi n twenty^(24is of this Amendment. No Lots)
��,., .. , u-�
shall be combine) nor shall any lots'be further subdivided,by,an Owner unless the prior written consent
,:
of the Declarant shall be obtained. Any permitted retidmbmation or subdivision shall meet all
applicable requirements of the 'Town of Belville and Brunswick County. In the event of any other
permitted recombination or subdivision, the Board of Directors of the Association, in its sole discretion
and without consent of any Members, shall reallocate the votes set out in SECTION 1, ARTICLE IV of

III!IiJ���INlfllll�lllllllllllll sz7a1!@US 0 9 34 ¢aa
L"^'^SY� RC Ra9lstar of Deeds ,.go 14 of 17
the Declaration, as amended. Such reallocations shall be effective from the date of recording an
amendment to the Declaration setting out such reallocations.
Section 4. General Restrictions. l he Lots shall be used only for those purposes as
permitted in this Declaration and in.f ue,zzoning ordinances of the\ vii of Belville and/or County of
Brunswick in force and effect on the date dfdlis Dnaamttgn,(as�tl>ee satyr may hereafter from time to time
be amended). The DmIamnl reserves the ri 11 Ij� e''v_e7ifurther to limit or restrict the use of a particular
Lot or Lots under the provisions noted llirou�h u"t,ihese ResfK6COs &AZir to the time such Lot or Lots are
conveyed. No use will be made of any Lot or any portwv-thcreof�or any Building or Structure thereon at
any time, nor shall any materials or products be manufactured, processed or stored thereon or therein,
which shall in the opinion of the Declarant and/or the Architeetuml Review Committee cause an undue fire
or health hazard to adjoining properties, detract or unreasonably hinder the visibility of adjoining
properties, or constitute a nuisance, or cause the emission of noxious odors or gases or smoke, or cause
noises or other conditions which miet violate the purpose anintent of these Restrictions and
development criteria. No antenna or tow4�shall be erected,or;gtie�$r44rrty for any purpose without prior
written approval from the Declarant. Satellif'e-di hero ill(be llowed as approved by the Architectural
Review Committee in its sole discretion U V U 11
G. All of Article VIII, Section 2, Stonnwater Reggulefuns. of the Declaration, as amended, is
hereby deleted and the following Section shall be inserted in place thereof
Ql,b ARTICLE Vlll j
"'Zr J'��
UTILITY, DRAINrnGFrI NB%1E:C64 EASEMENTS;
EMF:VdGENCY EASEME: Tit,
Section 2. Stormwater Runoff Regulations. "Covenants pertaining to slortnwatcr
are to ensure compliance with North Carolina State Management Permit Number SW8010706 as issued
by the Division of Water quality under NCAC 21-1.1000. All drainage swales or drainage patterns used
to treat stonnwater runoff as required by the State of North Carolina may rim be filled in, piped or
changed without the consent of the Successor Declarant or its designee, the Association and the State of
North Carolina Division of Water Quality„ The State of Norib�Carollya is hereby made a beneficiary of
these Protective Covenants to the extent!necee5ii [Ic�,errfoFc�e compliance with its stonnwater
/n;I71
management permit. This section mntaii�ng,lge slbrtriwater9tupo,(ffegulations cannot be changed or
deleted without the written consent�Fth� Sla[�Tf�s,f�ia am7ma`bivision of Water Quality. The
maintenance of the stonnwater runoff system shall be a'ciii"on expense and an obligation of the
Association.
The maximum allowable built -upon area per lot is as follows:
LOT SQUARE FEET
73.050
2z�62,0p0f3
3 �� II�IIA3;30
4 (QfJ hJ 26i95;> 'i:u
5 �r✓n,=ry47,O831
s sb 8a 6

82135P90501na�a4Oo
)/ h'` �� Prunwlek�un�ySIL 11.9lalar of Deeds papa IS of 17
7 42,814
8 31.382
9 104,779
10 55,962
II'-' 62,888
12
13 I��ISO
14 f u v 40;T0677,= 1U
16 39,941"Q
17 22,648
18 24,284
Successor Declarant may further amend this section, at any time and in its sole discretion, to re-
allocate aportion of the maximum atlol able built -upon -area asst�pted to any Lots owned by the
Declarant. Declarant's right to re -allocate such {lull �. pdu (arca,assignments shall terminate and expire
as to each Lot when such Lot is conveyedr\,�tUeclardtht.
'Phis allotted amount includes-any`bu`ill-iiptmvazm ca constcted within the boundaries of each
such Lot, and that portion of the rightof-way, between theWrnaytot line and the edge of the pavement.
Built upon area includes, but is not limited to, structures, asphalt, concrete, gravel, brick. stone, slate,
coquina, and parking areas, but does not include raised, open wood decking, or the water surface of
swunming pools.
All runoff from built -upon areas on the lot must drain into the permitted system. This may be
accomplished through providing rooffdrain gutters which drain not he he street, grading the lot to drain
toward the street, or grading perimeter swat and d rectin} tl em tpt the pond or street. Lots that will
naturally drain into the system are not requ ed7"t o4e' thus" measures.
n)1j1� U IURn-,.. OOr F7.Iea3
IL Except as amended by this Third Amendmenk'aW;exccpt as may be inconsistent with the terms
b.m
or spirit of this Amendment, Declarant ratifies, reaffirms ando-tirepublishes the Declaration of Covenants,
Conditions and Restrictions of Magnolia Business Park previously recorded in Book 1507 at Page 22 of
the Brunswick County Registry, and the First Amendment to Declaration of Covenants and Restrictions
of Magnolia Business Park recorded in Book 1946 at Page 1133 of the Brunswick County Registry and
the Second Amendment to Declaration of Covenants and Restrictions of Magnolia Business Park
recorded in Book 2375 at Page 1412 of the Brunswick Count -Registry.
�(C
S��
IN WITNESS WHEREOF, the Deelara ri, au'[ L7V{-nvcstmeff cup, LLC and Exum Family, LLC
have caused this Declaration to by duly executed as ofIhe a;aa,Qgtt above written.
DIME COMMERCIAL INVESTMENTS, LLC
41, fay: LOGfyAN MAN{�GEN1ENf COMPANY, INC.,
;� C � 1tah�eaa _—,
By: G
Ro ert C G. Ex t Manager

iI�'GJ IIIIIIIpill IIIUIJI'Mil11111111 Bo735 P0J.0511101.34.0ea
laertB'u.. I.k'Ceupty„[NC Register of Deeds page IS of 17
1, W INVESTMENT GROUP, LLC
d p
6) LO �NIAN GEMENT COMPANY, INC.,
OL� onager
V'r r -
L a
By:
D 1. Logan, Pre � ent
EX �II [� l ` 1�V,C
i
Rolie'r3:6. G E m, Manager
e,�
State of North Carolina
,I r�k,1 zu
YJ-�L�� J lJ
Count of C `� mn7➢lf
1, y� D WIC ��--a Notary Public ofQifG)/ X
nt..n f`ar�hna do renifv that nn th'. /'dav of✓Gnk4rl. 200? , before me personally at
ProSek.¢) Ln(`VnW" , a A/G U- ,9lfY-CONNEPCIAL /NVE�/iga✓f-;
Limited Liability Company
✓ personally known to me: von,
proved to me by siinsfacto ev enb'e,
n • n �_� �7Gsrsv� Bai who is
proved to me on tha`oath o al'frtnatt9tp of_
personally known to me, lrj{C��
to be the person(s) whose name(s) is/are signed on the preceding or attached record, and acknowledged
to me that he/she/ h sioid ityptitntarily for itW.ta
urpose.
gTEP WdE 19 C AWAY
gt2AW * ublic
( OBu11Y. ge
Morin Cafollna ,.. ��
My Conunissmn expires: l -- J —' V fJ%
hf n

State of North Carolina
Comfy of ilrtQC/itLipG� ICK
1, � )/o7MAI — JS �Ticu
North Carolina do certify that on
�L✓��I�j�ll�l'�LLL
62139 P0�2 0r _l0_2009
10 19 N.000
Rober! J. Robinson
Brumulek ounly, C puler of Oeeh Dega 17 of 17
me
of L_kJ
Limited Liability Company
personally known to me;
proved to me by satisfactory evidence;
proved to me on the oath or affirmation of who is
personally known to me,
to be the person(s) whose names) is/are signed on the pr lw,'.r at ached record, and acknowledged
to me that he/she/they signed it voluntarily forjts at b;,�i" l y
g(EpW►NIE B OTTAWAY 6.
Ngtgy puWlc Note Vlbhc�
dswlck County, North C�o7rr""-J
My Commission expires:
State of North Carolina
County of &/A/.(2t )rCt
do certify that on
a
C
QZ,z
'1
a Notary Public of ,/S4(iAAzt LL[L. County,
t,Z' y oCTAA i4&200k, before me personally appeared
Limited Liability Company 1,1 ,•
11� personally known to me; " �r2G(C
proved to me by satisfacto, levidetido;
proved to me on the oatktor affim,}a[ion of avcsa
v✓UL�
personally known to me, pz
to be the person(s) whose names) is/are signed on the prepmg or ana,
to me that he/she/Ihey si ed it voluntarily for its state se.
STEPMAtUE B OTTAWAY
W HAEC �.+ Notaryblic
�feMdt Ca[mty, NoM Carolina,
My Commission expires: / '�� ��F� 11' ��r��p�yyi
JnnN;�' I
-iL
who is
record, and acknowledged