This Declaration of Protective Covenants and Restrictions of Antelope Hills Subdivision, Bennett, Colorado is made the date hereinafter set forth by Antelope Development LLC, a Colorado limited liability company, hereinafter referred to as the “Declarant”.

WITNES SETH:

WHEREAS, the Declarant is the owner of real property situate in the County of Arapahoe, State of Colorado, more particularly described on Exhibit A attached hereto and incorporated herein by this reference; and

WHEREAS, the Declarant desires to provide for the preservation of the values in the Property for the community that is to reside therein and, to such end, desires to subject the Property to the covenants, conditions, restrictions, easements, reservations, rights-of-way, charges, liens, equitable servitude and other provisions hereinafter set forth, each and all of which is and are for the benefit of the Property and each owner of all or any portion thereof, their heirs, successors administrators, grantees and assigns; and

WHEREAS, Declarant has deemed it desirable, for the efficient preservation of the values in said community, to create an entity which shall have the obligation and powers of administering the community and enforcing the covenants and restrictions; and

WHEREAS, a common interest community in the State of Colorado may be created pursuant to the Colorado Common Interest Ownership Act, as amended, (“CCIOA”), as defined hereinafter, only by recording a declaration executed in the same manner as a deed. In such a case, the declaration must be recorded in every county in which any portion of the common interest community is located and must be indexed in the grantee’s index in the name of the common interest community and in the name of the association, and in the grantor’s index in the name of each person executing the declaration. If governed by the Act, no common interest community is created until the plat or map for the common interest community is recorded; and

WHEREAS. Declarant has incorporated or will incorporate under the laws of the State of Colorado, as a nonprofit corporation, the Antelope Hills Homeowners’ Association, for the purposes of exercising the functions aforesaid.

NOW, THEREFORE, the Declarant declares that all of the Property is and shall be held, transferred, sold, conveyed and occupied subject to the following terms, restrictions, limitations, uses, liens, charges, covenants, conditions, obligations and easements, which are for the purpose of protecting the value and desirability of, and which shall run with the Property, and shall inure to the benefit of and be binding on all parties having any right, title or interest in the Property or any part thereof, their

heirs, grantees, personal representatives, executors, administrators, devisees, successors and assigns, and shall inure to the benefit of each owner of all or any portion thereof.

ARTICLE I - DEFINITIONS

Section 1.1.Allocated Interests: shall mean the Common Expense Liability and votes in the Association allocated to each Lot. The Allocated Interest for each Lot shall be a fraction, the numerator of which is one (1) and the denominator of which is the total number of Lots within the Community from time to time.

Section 1.2.Articles: shall mean the Articles of Incorporation of the Master Association, as the same may be amended or supplemented from time to time.

Section 1.3.Assessments: shall mean all of the following: Common Expense Assessments, Individual Assessments, Special Assessments and Penalty Assessments.

Section 1.4.Assessment Year: shall mean the calendar year or such other period of twelve consecutive months selected by the Board for the levying, determining and assessing of the annual Assessments under this Declaration.

Section 1.5.Board or Board of Directors: shall mean the Board of Directors of the Master Association.

Section 1.6.Builder: shall mean any Member other than Declarant who acquires one or more Lots for the purpose of constructing a residence thereon, and who is designated as a Builder by Declarant in its sole discretion from time to time (including the right to withdraw such designation), with such designation to be made by a written instrument duly recorded in the office of the Clerk and Recorder of the County of Arapahoe, Colorado.

Section 1.7 Bylaws: shall mean the Bylaws of the Master Association, as the same may be amended or supplemented from time to time.

Section 1.8.Committee: shall mean and refer to the Antelope Hills Architectural Review Committee, and its successors and assigns that are designated in writing.

Section 1.9. Common Areas: shall mean all real property (including the improvements thereto) owned, leased or maintained by the Master Association for the common use and enjoyment of the Owners (subject to Section 2.1 of this Declaration).

Section 1.10. Common Expenses: shall mean (i) expenses of administration, operation, management, maintenance, repair, and replacement of the Common Area; (ii) expenses declared Common Expenses by the Master Association; (iii) all sums lawfully assessed against the Lots by the Board of Directors; and (iv) expenses agreed upon as Common Expenses by the Members of the Master Association.

Section 1.11 Community: shall mean real estate described in this Declaration, as supplemented and amended from time to time, with respect to which a Person, by virtue of such Person’s ownership of a Lot, is obligated to pay for real estate taxes, insurance premiums, maintenance or improvement of other real estate described in this Declaration. Declarant intend and declares that this is a “planned community” as that term is used and understood in and pursuant to the Act and that the “Annexable Property” described in the aforementioned Exhibit A is intended to include those Lots to be created and eventually become the Community.

Section 1.12. County: shall mean the County of Arapahoe, State of Colorado.

Section 1.13. Declarant: shall mean and refer to Antelope Development LLC, a Colorado limited liability company, its successors and assigns. A person or entity shall be deemed a “successor and assign” of Antelope Development LLC as the “Declarant” only if specifically designated in writing by Antelope Development LLC as a successor Declarant or assignee of Antelope Development LLC with rights as the Declarant in whole or to any part of the Property and if such written instrument is duly recorded in the real estate records of the County. Any such document shall be deemed to be the designation of a “Builder”, as herein above provided, unless the document is expressly an assignment of Declarant rights, which provides for assignment or transfer of one or more or all of the Declarant’s rights under this Declaration.

Section 1.14. Declaration: shall mean this document, together with all exhibits attached hereto, and all amendments and supplements hereto.

Section 1.15. First Lien: shall mean a Lien which has a first and paramount priority to or upon a Lot or Property under applicable law and which appears in the County’s real estate records.

Section 1.16.First Lienholder: shall mean a Lienholder identified in the County’s real estate records and which takes, owns, or holds a First Lien. Also, First Lienholder shall include both First and Second Lienholder of Liens executed by Declarant identified in the County’s real estate records and which take, own, or hold a Lien having a first or second priority to or upon a Lot or Property owned by Declarant.

Section 1.17. Household Pets: shall mean and refer to tropical fish, small pet rodents (gerbils or hamsters), dogs, cats and small birds, kept as pets which are normally kept inside the Home.

Section 1.18. Individual Assessment: shall mean the assessment levied against a particular Lot or Lots to cover the Master Association’s costs of providing services which benefit only one or a limited number of Lots.

Section 1.19.Living Unit: shall mean each Home, which is a single-family residence located within or upon a Lot and may be referred to as a dwelling.

Section 1.20.Lot:shall mean each platted lot shown upon any recorded subdivision map of the real property described on the attached Exhibit A, as the same may be re-subdivided or re-platted from time to time, or any other real property as may hereafter be brought within the jurisdiction of the Association, with the exception of the Common Elements and any publicly dedicated property.

Section 1.21.Master Association: shall mean and refer to the Antelope Hills Homeowners’ Association, a corporation not-for-profit, its successors and assigns.

Section 1.22.Member: shall mean every person or entity who is a record owner of a fee or undivided interest in any Lot, including Declarant and contract sellers, but not including contract purchasers.

Section 1.23.Lien: shall mean any Lien, deed of trust, or other document pledging a Lot as security for payment of a debt or obligation.

Section 1.24. Lienholder: shall mean any person, corporation, partnership, trust, company, association, or other legal entity which takes, owns, holds or receives a Lien.

Section 1.25. Period of Declarant Control: shall mean and refer to a length of time expiring ten (10) years after initial recording of this Declaration in Arapahoe County; provided, that the Period of Declarant Control shall terminate no later than either sixty (60) days after conveyance of 66.6 percent of the Lots from Declarant to a Owner, two (2) years after the last conveyance of a Lot by the Declarant in the ordinary course of business, or two (2) years after any right to add new Lots to the Declaration was last exercised.

Section 1.26. Outbuilding: shall mean and refer to any enclosed covered structure not directly attached to the Home which it serves.

Section 1.27. Owner: shall mean and refer to the Declarant, Builder or other record owner, whether one or more persons or entities, of a fee simple title to any Lot, including contract sellers, but excluding contract purchasers and those having such interest merely as security for the performance of an obligation.

Section 1.28. Plat: shall mean any recorded plat for any portion of the Property, and any supplements, amendments, or modifications thereto. Declarant reserves the right to amend the Plat, at any time and from time to time, until December 31, 2010, to conform the Plat according to the actual location of any of the constructed improvements and to establish, vacate, or relocate easements.

Section 1.29. Project: shall mean all of the Property, including real property and improvements annexed thereto pursuant to Sections 8.13 and 8.14 hereof, and all improvements thereon, together

will all rights, duties, easements, and appurtenances belonging thereto submitted by this Declaration and any amendments and supplements hereto.

Section 1.30. Property: shall mean and refer to that real property described on Exhibit A to this Declaration, and all improvements and structures thereon, and such additional real property as may hereafter be brought within the jurisdiction of the Master Association.

Section 1.31. Related User: shall mean a person or entity who obtains all or certain rights of an Owner by reason of such person or entity claiming or being entitled to such rights by, through or under such Owner. Without limiting the generality of the foregoing, Related User shall include any occupant, tenant, or contract purchaser of an Owner who resides on the Lot of such Owner and any natural person who is a guest or invitee of such Owner or of such person or entity.

Section 1.32. Rules and Regulations: shall mean the rules and regulations adopted by the Board pursuant to this Declaration and the Bylaws, as the same may be amended or supplemented from time to time.

Section 1.33. Subdivision: shall mean all lots and other common and dedicated property within the Plat.

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Antelope Hills Declaration of protective covenants

Ammendments to Covenants

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