A Multi Family Cooperative

Dear Property Buyer, As with any group of people planning on making a valuable land purchase and building their home on that land, there are natural concerns regarding community standards and the financial appreciation of the property they have purchased. To assure each buyer that the value of their purchase will be protected as much as possible and that the community will maintain standards of safety and concern for the families living there, the following are covenants and development plans that are attached to the property you are planning to buy. 1. To protect your purchase value, home plans need to be submitted to SVFC LLC for approval. a. Home minimums of 1,000 sqft or larger. b. Smaller cabins plans may be submittted if they will be used for a guesthouse. c. One bedroom, one bath, kitchen and living space is the minimum floor plan. d. Home design can include a basement plus up to 1-2 stories e. Approved construction materials are wood logs, wood siding, stone, brick and stucco  Modular Homes and/or Trailers are not allowed  No "0" lot line homes.  One main dwelling and one separate exterior building on each 2 acres of land.  No duplexes, multi-family dwellings, apartments, condominiums, etc.  50' no-build buffer from creek edge.  50' minimum setback from front propertyline for any buildings or solid or stockade fencing.  50' setback from any side property line excepting front for construction.  10' setback for fences to allow for future walkways.  100' setback from creek edge for sewage lines.  No submerged gasoline or fuel tanks on property.  No subdivision of property(ies) is permitted without SVFC LLC written permission.  A 20’ right-of-way access/egress to Hwy 30 will be provided by SVFC LLC. 2. Property Owners may resell their property after initial 7 years following purchase. After the initial term, SVFC LLC will have first right of refusal to repurchase land at a written pre-agreed upon appreciation schedule between SVFC LLC and the property owner. 3. Owners can bid their construction project to local contractors for price comparisons. Contractors can be chosen from a list of approved general and sub-contractors. As a deterent to building code violations, Contractors and Builders must be pre-approved by SVFC LLC. 4. Construction must begin within 7 years of purchase date and be completed within a year following the starting date. Multi-phased development is acceptable as long as, the first phase can be certified by the county planning commission and plat approval obtained. Each phase must be submitted for approval prior to actual development. 5. Land set aside for crops or pasture is "optionally" available for each land owner. Field land can be leased from SVFC LLC to be sown in crops or pasture at $10/ 1/4acre/month seasonally (6 month) on an, as available, basis. 6. Development of the property totaling 62 acres and known as SVFC LLC, previously known as Sequatchie Valley Farm Cooperative is anticipated to include some/all of the following development provisions. Phase 1 - Initial Development [x] Raising the road level over the creek by some 5 feet and providing culvert underflow that will create a cleared pond area on the lower side of the creek / overpass as the road passes over the creek. [x] Providing a gravel access/egress ROW road 10'/12' wide, East-West and North-South; to property lines. (actual driveway from the property line to your home-site is your responsibility as the property owner. Initial gravel and grading paid by SVFC LLC. Road and common area maintenance is accessed to the property owners on a monthly basis. [x] Placing a security gate/fence location at the drive prior to the creek overpass on the highway ROW edge. Clearing a widened area at the creek crossing. [x] Clear field and plant 2 rows of fruit trees at Hwy 30E entry border and Ault Property. [x] Clear (bushhog) and cut the 18 acre field and seed with KY-31 Fescue, Red Clover, Winter Wheat, border field edge with fence. [x]Grade and gravel and maintain perimeter road around field common area. [x] Initial clearing Old Rigsby Road along the back edge of the property. [x] Storage Pole Barn 40'x 84' and Maintenance Shed (Autumn 2003-Spring 2004). [x] East Community Well - water piping to the property line (by SVFC LLC - scheduled for Autumn 2003) [x] Eastern Tract wellhead and pump by SVFC LLC - scheduled for Spring 2004. [x] Perimeter Road Tree Planting by SCFV LLC to begin Autumn 2004. [x] indicates item completed Phase 2 - Development SVFC LLC Participation 1. Begin Partial Fencing of Common area field to provide a location for a grass pasture and community crop usage. 2. Gazebo Picnic Area by SVFC LLC - scheduled for Spring-Summer 2005. 3. Continue Grade and Gravel on south side of common areas. Common Area Maintenance - $10/month per 1/4 acre of property owner (family) once construction begins. Until construction begins, the rate is 1/2 the above. Home/Cabin Management - (optional) recreational rental houses and cabins SVFC LLC offers property administrative and management services for owners who wish to rent their home or cabin to vacationers. Rentals will be cleaned after each use and maintained by SVFC LLC. The property owner will receive 50% (after maintenance costs) of the rental fee for all rentals booked.

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