PICKETT CROSSING DECLARATION OF RESTRICTIONS AND COVENANTS FOR PICKETT CROSSING

AS AMENDED OCTOBER 27, 2001 s-r ATE OF NORTH CAROLINA COUNTY OF DURHAM DECLARATION OF RESTRICTIONS AND COVENANTS FOR PICKETT CROSSING SUBDIVISION

AS AMENDED OCTOBER 27, 2001

THIS AGREEMENT, made and executed the 12Tl! day of September, 1997, LANDWRIGHT CAPIT.4.L PARTNERS, LLC, 1408 Christian Ave. #5, Durham, North Carolina 27705, a North Carolina Limited Liability Company (hereinafter referred to as "Developer") for the benefit of any and all individuals, partnerships or corporations hereafter acquiring any of the within-described property.

W I TN E S S ET H:

THE DEVELOPER, being the owner of all of the following described premises, situated within tl1e County of Durham, State of North Carolina and being more particularly described as follows (hereinafter referred to as tl1e "Property", "PICKETT CROSSING" or the "Subdivision"):

See Exhibit "A" attached hereto and incorporated herein by reference.

The Developer has established a general plan for the improvement and development of the Property, and does hereby set forth and establish the following covenants, reservations, and restrictions upon which all lots and portions of such lots shall be improved or sold and conveyed by Developer as owner thereof Each and every one of these covenants, conditions, reservations and restrictions is and all are for the benefit of each owner ("Owner") of land in the Subdivision, and shall inure to and pass and run with each and every lot ("Lot") now or hereafter subject to this Declaration, and shall bind each owner and their successors or assigns. Tl1ese covenants, conditions, reservations, and restrictions are imposed upon the Property, as well as any lands added hereto, all of which are to be construed as restrictive covenants running with the land. The intent of the following covenants is to foster the development of a compatible neighborhood of people a11d homes, to protect all parties to this instrument against such improper use of lots within. the development which would depreciate the monetary worth of other lots within the Subdivision, to foster a develop,nent which maintains an atmosphere of natural beauty and a harmonious blend of nature and residential dwellings, and to provide a mechanism for the maintenance and repair of the landscaping, natural areas, entrance(s), roadways and other common elements associated therewith.

SECTION 1

1. THE ASSOCIATION. The Developer shall establish, coincidental with this Agreement, a Homeowners Association (hereinafter referred to as "Association") as a non-profit North Carolina corporation named PICKETT CROSSING HOMEOWNERS' ASSOCIATION, fNC. to own and to maintain the entranceway(s), roadways, stormwater detention impoundments, landscaping easements areas, and all other common areas, and to carry out the business of the lot o,vners in common one with the other. The Association's Bylaws are incorporated herein by reference. 2.

MEMBERSHIP. Every lot owner shall be a me1nber of the Association, and membership shall be appurtenant to any and may not be separated from ownership of any lot within or annexed to Pickett Crossing. Pickett Crossing will consist of a total of 148 building lots. The initial Phase I, consisting of 29 lots, is shown and described on Exhibit "A" attached hereto and referred to herein. Additional lots may be annexed to the Property as described herein, and included under the jurisdiction of this Declaration, at the option of the Developer and upon the approval of U.S. Departme11t of Housing and Urban Developme11t ("HUD"), Federal Housing Administration ("FHA") and Veterans Administration ("VA"), effective when the Developer shall cause this Declaration to be amended and recorded at Durham County Registry on the annexed lots, if any.

3. COMMON AREAS, LANDSCAPING EASEMENTS, NATURAL AREAS AND ROADWAYS AND DETENTION BASINS. Subsequent to the recordation of this Declaration, the Developer shall deliver to the Association one or more deeds or easement deeds, free and clear of all encumbrances, conveying any Common Areas, Roadways, Natural Areas, Landscaping Easements, Etc., to the Association as sucl1 areas are created or developed.

4. Voting. The Association shall have the following two (2) classes of voting me1nbers. Class A: Class A members shall be lot owners with the exception of the Developer, and shall be entitled to one (1) vote for each lot owned. Developer may, however, be a Class A 1nember upon termination of Class B membership. When more than one (I) owner holds an interest in any lot, all such owners shall be members. The vote of such lots shall be exercised as the owners, among themselves, determine, but in no event shall more than one (1) vote be cast with respect to any lot. Fractional voting is prohibited. Class B: The Class B member shall be the Developer. The Class B member shall be entitled to five (5) votes for each lot owned. The Class B membership shall cease and be converted to Class A membership upon one of the following events, whichever occurs first. a.Dece1nber 31, 2002; or b.Seventy-Five percent (753/o) of the lots are deeded and conveyed to homeowners.

5. CREATION OF LIEN AND PERSONAL OBLIGATION ASSESSMENTS. Developer, for each lot owned, hereby covenants, and each owner of any lot by acceptance of a deed therefore, whether or not so expressed in s,1cl1 deed, is deemed to covenant and agree to pay to the Association ann,,al assessments or charges, and special assessments for capital i1nprovements, both such assessments to be established and collected as hereinafter provided. The annual and special assessments, together with interest, costs and reasonable attorney's fees, shall be a cl1arge on the land and shall be a continuing lien upon the property agai11st whicl1 each such assessn1ent is 1nade. Eacl1 such assess1nent, together with interest, costs and reasonable attorney's fees, sl1all also be the personal obligation of the person who was the owner of such 2property at the time when the assessment fell due. The personal obligation for delinquent assessments shall NOT pass to his/her successor in title unless expressly assumed by them.

6. l'URPOSE OF ASSESSMENTS. The assessments levied by the Association shall be used exclusively to promote the recreation, health, safety and welfare of the residents in the Properties and for the improve1nent and maintenance of the Common Areas giving highest priority to the maintenance of the common area landscaping, entrances, roadways, natural areas and landscaping easement areas.

7. MAXIMUM ANNUAL ASSESSMENT. assessment shall be $100.00 per lot. Until January I, 1999, the maximum annual

a. Effective from and after January I, 1999, and while there exists a Class B membership, the maximum annual assessment may be increased each year not more than ten percent ( IOo/o) above the maximum assessment for the previous year.

b. For as long as the Class B membership exists, the Developer, or its successors, shall pay annual assessments equal to the difference between the costs necessary to operate the Association and the amount of all other assessments collected.

c. After the Class B membership has been extinguished, the maximum annual assessment may be increased above ten percent (10%) by an affirmative vote of a majority of members who are voting in person or by proxy, at a meeting duly called for this purpose.

d. The Board of Directors may fix the annual assessment at an amount not in excess of the maximum.

8. SPECIAL ASSESSMENTS. In addition to the annual assessment authorized above, the Association may levy, in any assessment year, special assessments applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the common areas, including fixtures and personal property related thereto (collectively, the "Common Areas"), provided that any such assessment shall have the assent of the majority of the votes of Class A members ,vho are voting in person or by proxy at a meeting duly called for this purpose.

9. UNIFORM RATE OF ASSESSMENT. Annual assessments provided for herein shall commence as to each lot on the first day of the month following purchase of the lot by the initial occupant. The first annual assessment shall be adjusted according to the number of months remaining in the calendar year. The Board of Directors shall fix the amount of the annual assessment against each lot at least thirty (30) days in advance of each annual assessment period. Written notice of the annual assessment shall be sent to every owner subject thereto. The due dates shall be established by the Board of Directors. The Association shall, upon demand, and for a reasonable charge, furnish a certification, signed by an officer of the Association, setting forth whether the assessments on a specified lot have been paid.

10. NON-PAYMENT OF ASSESSMENTS· REMEDIES OF THE ASSOCIATION. Any assessment not paid within thirty (30) days after the due date thereof shall bear interest from the due date at the rate of eight percent (8o/o) per annum. The Association may bring an action at law against the owner personally obligated to pay the same, or foreclose this lien against the property. No owner may waive or otherwise escape liability for the assessments provided for herein by non-use of the Common Area or aba11donment of his/her lot.

11. SUBORDINATION OF THE LIEN TO MORTGAGES. The lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage. Failure to pay any assessment due does not constitute a default under a Lot Owner's -mortgage. Mortgagees shall not be required to collect assessments from Lot Owners, on behalf of the Association. Sale or transfer of any Jot shall not affect the assessment lien. However, the sale or transfer of any lot pursuant to mortgage foreclosure or any proceeding in lieu thereof, shall extinguish the lien of such assessments as to payments which became due prior to such sale or transfer. No sale or transfer shall relieve such Jot from liability for any assessments thereafter becoming due or from the lien thereof.

12. EXEMPT PROPERTY. All properties dedicated to and accepted by a local public authority, and all properties owned by a charitable or non-profit organizations exempt from taxation by the laws of the State of North Carolina shall be exempt from the assessments created herein. However, no land or improvements devoted to dwelling use shall be exempt from said assessments.

SECTION 2 I.

All lots in the above-described parcel of land shall be known and described as residential lots, and shall be used for single family residential purposes only. No structures shall be erected, placed or permitted to remain on any residential building lot other than one detached dwelling with a private garage for not more than three cars and other out-buildings incidental to residential use, subject, however, to other provisions set forth herein.

2. Each main structure of each dwelling constructed upon the lots or lots shall have a minimum heated and finished floor space of 1200 square feet. In determining the square footage of the primary dwelling, garages, storage houses, unfinished basements and un-enclosed porches shall be excluded. Provided, however, on a case-by-case basis, the Architectural Standards Committee ("ASC") in its sole discretion, by unanimous vote, may allow exceptions to the minimum square footage required. The decision of the ASC shall be made in good faith, and its decision shall be binding.

3. No dwelling or other structures shall be located on any lot nearer than the front interior, side and rear lot line requirements as specified by and in City of Durham municipal zoning and codes. Additionally, there shall be a solar set back requirement of 15 feet.

4. No structure, including the dwelling and garage, whether attached or detached from the main dwelling, shall be constructed, situated, or allowed to remain on any lot, unless the plans and specifications and location of the same shall have been first approved in writing by the ASC based on a majority vote of committee members. If the ASC fails to approve or disapprove such specifications, plans and locations within two (2) weeks of receipt of same, then such plans and specifications shall be deemed approved as presented. In the event of a tie vote of the ASC, the subject plans shall be deemed disapproved and the decision shall be automatically appealed. The approval or disapproval of specifications, plans and location to be made by the ASC shall be reasonable and made in good faith. All parties to this Declaration, whether Developer, initial house builder, Jot o,vner, or prospective purchaser, acknowledge that such approval shall take into account the nature of the improvements and the l1armony of the proposed improvements with the surroundings, other buildings within the subdivision and the topography of the lot. It is the intent of this Declaration to promote the proper maintenance and good design of all landscaping and trees and the natural setting and appearance of the lots. Each lot Owner shall be entitled to the reasonable enjoyment of his/her Lot and freedom to modify his/her landscaping to meet his/her individual needs. 'frees exceeding ten (IO") inches in diameter as measured four feet above the ground may only be removed after approval by the ASC.

4 Each individual hot1se builder shall prior to the commencement of construction, submit two (2) copies of the proposed plans and specifications for the exterior of each model style to be built within Pickett Crossing to the ASC, such plans and specifications shall include:

a. Exterior elevation plans of every side of each model style and any additional structure to be erected upon any lot. Such plans shall include all variations of each model style including one or two car garages, bonus rooms, additional or expanded rooms, decks and porches (in excess of 250 square feet) and all changes which modify the foundation of any model;

b. Exterior color chips or color samples of all siding, trim and masonry combinations anticipated and the program, if any, to be followed with respect to complementary combinations of color and colors of adjacent houses; and

c. For information purposes., to be kept on file by the Association, the site plan describing the footprint of all structures, including dimensions, which shall contain the same and all information on the site plan as is required by the City of Durham for each building permit. Each lot owner shall prior to the commencement of any additional construction after construction of the initial dwelling, submit two (2) copies of the proposed plans and specifications for the exterior of all improvements to the ASC, such plans and specifications shall include:

a. A site plan describing any changes in the footprint, including dimensions, of the dwelling and driveways and describing those items which are added to will change from any prior construction on the lot; and

b. Exterior elevation plans of every side of the changes i11 tl1e dwelling and each strt1cture to be erected upon the lot; and

c. Exterior color chip(s) or color sample(s) to be used on all exterior surfaces of either or both the original dwelling and/or the additional structure(s) erected or to be erected upon the lot; and

d. A landscaping plan describing the additional fences, ponds, exterior lighting and fixtures to be installed upon the lot and exterior of the structures.

e. The number of plans and the level of detail of each plan required shall be according to the rules and regulations established by the ASC and approved by the Board of Directors and shall be in proportion to the complexity of the Owner's request, as determined by the ASC. Approval of such plans, specifications, site plan and landscape plan shall be evidenced by written endorsement of the ASC on such plans, copies of which shall be delivered to the owner or owners of the lot upon which the prospective structure is contemplated prior to the beginning of construction. No external structural or color changes or deviation in or from such plans and specifications as approved shall be made without the prior written consent of the ASC.

Decisions by the ASC may be appealed to the Board of Directors by submitting written notice of appeal to any officer of the Association. Appeals shall be heard within thirty (30) days of such notice at a regular or special meeting as determined by the Board. The Board of Directors may affirm or overrule decisions of the ASC or may recommend a compromise. Decisions by the Board of Directors related to 5architectural standards may be appealed to a decision of a majority vote of members voting in person or by proxy at a meeting duly called for this purpose, written notice of which shall be sent to all members not less than thirty (30) days nor more than sixty (60) days in advance of the meeting setting forth the time, place and purpose of the meeting.

All construction, once approved by the ASC requires the lot owner to obtain all applicable municipal approvals from the City of Durham and all other agencies. Construction not started within one year from the date of approval by the ASC shall be deemed abandoned and shall require the lot owner to resubmit all plans and specifications required above before initiating construction. Construction once started shall be diligently pursued until completion. No construction shall be vacated or delayed for more than ten consecutive calendar days, for any reason. No construction shall be delayed or postponed pending resolution of any disputes or disagreements. The lot owner shall take whatever steps are necessary to continue completion of the constructior1 and to consult with the ASC, if modifications in the plans and specifications are necessary. The Developer, the ASC or any lot owner shall be entitled to injunctive relief to stop or require the modifications, relocation, or removal of any construction in violation of these restrictions.

5.

(a) Any and all out-buildings must be located to the rear of the main dwelling and shall not at any time be used as a temporary or permanent residence, except as allowed by the ASC.

(b) Recreational camping vehicles, boats and boat trailers may be stored on the property, provided they are stored to the rear of the main dwelling and suitably screened from all directions. Unlicensed automobiles must be stored in a garage.

(c) Any fuel tanks shall be to the rear of the improvements and buried in the ground or screened in a manner approved by the ASC.

(d) No clothes lines shall be pern1itted except to the rear of the house.

(e) No trade materials or improvements may be stored upon the premises a11d no tractor trailers may be parked at or on the premises. In addition, no mobile home shall be allowed on any lot within the development.

(f) All rubbish, trash, organic clippings, garbage or other waste shall be kept in sanitary containers in an enclosed location and appropriately screened.

(g) No outdoor burning of any material shall be permitted on any lot unless an adequate incinerator is used in compliance with all local, state or federal laws and required permits are obtained.

(h) No lot owner or person residing in the residence shall allow a home business to continue to function on the lot or within the premises which employs more than one nonresident or attracts, on average, more than two daily vehicular trips of visitors or trades/delivery vehicles to the lot.

(i.) Adequate off-street parking spaces sufficient for the owner and other persons residing regularly in the residence shall be provided by the owner of each residential lot. Lot owners agree not to park their automobiles or other vehicles on the streets located within the subdivision.

6(i) All radio and television antennae (including all forms of satellite dishes), shall not be constructed, installed or located upon the lot within the lands subject to this Declaration without the prior written approval of the ASC, which approval shall only be given after review by the ASC of a written submission, including site plan, describing the nature of such construction and suitable screening therefore, installation or location, impact on existing vegetation, together with a specific description of all materials to be 11sed, s11bject to the same approval requirements set forth in Paragraph 4 of this Declaration for other improvements.

(k) Concrete blocks or cinder blocks must be covered or parged if exposed as finished exterior of the dwelling or any structure on the lot.

(I) All exposed surfaces of any chimneys attached or within any structure shall be of masonry materials or covered in the same siding as the house.

(m) All roofs of all structures over heated areas shall be sloped at a pitch not less steep than 6 in 12, unless specifically approved by the ASC.

6. Easements for the installation and maintenance of the streets, landscaping, all utilities and drainage facilities are hereby reserved by the Developer for itself, its successors and/or assigns as shown on the recorded plat for Pickett Crossing Subdivision. Within these easements no structures, plantings or other materials shall be placed or permitted to remain which may change the direction of flow, obstruct, or retard the flow of water through drainage channels in these easements. The sewer and storm drainage easement areas of each lot sl1all be maintained continuously by the owner of the lot. The landscaping easement areas along Cambridge Drive shall be maintained continuously by the Association.

7. No obnoxious or offensive activity shall be permitted on any lot, nor shall anything be done thereon which may be or may become an annoyance or nuisance to the neighborhood.

8. No trash, rubbish, stored materials, wrecked or inoperable vehicles or similar unsightly items shall be allowed to remain on any lot outside the approved enclosed structure. Provided, however, that the foregoing shall not be construed to prohibit temporary deposits of trash and other such debris for pick up by garbage or trash removal services.

9. No signs or billboards of any description may be displayed an the property, with the exception of "FOR SALE" which signs shall not exceed six (6) square feet in size and shall be limited to one sign per lot.

I0. No animals, livestock or poultry of any kind shall be raised, bred, or maintained on any lot except household pets which may be kept thereof in reasonable numbers as pets for sole pleasure and use of the occupants, but not maintained or bred for any commercial use or purpose.

11. All fences shall not be over six (6) feet high and shall be of a type that enhances the beauty of the neighborhood and shall, prior to construction, be approved by the Architectural Standards Committee purs11ant to Paragraph 4. In no event shall a chain link or metal type fence be approved in any area closer to the front property line than the rear of the residential dwelling. In no event shall any fence be approved in any area closer to the front property line than the front of the residential dwelling.

1.The Architectural Standards Committee ("ASC") shall consist of a Chairman and two or more members appointed in the following manner:

7(a) So long as Developer owns one ( 1) or more lots located within lands subject to this Declaration, then Developer shall appoint two (2) members of the ASC. A majority of the owners of the lots, except the Developer, shall appoint on (I) member of the ASC.

(b) At the point in time that Developer no longer owns any lots as set forth above or Developer relinquishes its right to appoint members to the ASC in favor of the lot owners, members of the ASC shall be appointed by the Board of Directors.

(c) Members of the ASC shall serve terms of one year and may be removed from office by the B<Jard of Directors with or without cause.

SECTION 3

1. Term of Declaration. The terms and conditions of this Declaration shall be construed as covenants running with the land and shall be binding and effective for a period of twenty (20) years from the date hereof, at which time they shall be automatically extended for successive periods often(! 0) years each. If any person, firm or corporation shall violate or attempt to violate any of these restrictions, it shall be lawful for the Developer or any other person, firm or corporation owning any of the lots to prosecute the violating party at law or in equity for any claim whicl1 these restrictions may create, either to prevent said person, firm or corporation from doing such acts and/or to recover damages for such violation or violations, including reasonable attorney's fees incurred in connection with the enforcement of these restrictions. Invalidation of any one or more of these restrictions by judgment or court order shall in no way affect the other provisions not expressly held to be void, and all other such provisions shall remain in full force and effect.

2. Developer shall have the right and privilege, in its sole discretion, to add additional lots to the subdivision by execution and recordation of an amendment to this Declaration in the Durham County Register of Deeds.

3. Amendments to Declarations. Except as provided above, or before a date (5) years from the date hereof, this Declaration may be amended in full or in part only after the assent of seventy-five (753/o) percent of the votes of Class A members who are voting in person or by proxy at a meeting duly called for this purpose, or by an instrument signed by the owners of not less than seventy-five (75°/o) percent of the lots. After the date which is five (5) years from the date hereof, this Declaration may be amended in full or in part by an instrument signed by a simple majority of the owners of the lots. To be effective, any amendment of this Declaration must be recorded in the Office of the Register of Deeds of Durham County, North Carolina. }IUDNA Approval. Notwithstanding any provision in this instrument to the contrary, as

4. long as a Class B membership exists, the following actions shall require the approval of HUDN A if the Developer desires to qualify sections of the Property tor HUDN A approval: (1) annexation of additional properties and dedication of additional Common Areas not covered by the attached Exhibit A; (2) amendment of this Declaration of Restrictions and Covenants; (3) mergers and consolidations; (4) mortgaging of Common Area.

5. MORTGAGES ON COMMON AREAS. The Common Areas cannot be mortgaged or conveyed without the prior consent of at least two-thirds of the Lot Owners (excluding the Developer). Before the Com1non Areas can be mortgaged or conveyed, the Association shall obtain prior written approval of HUD/VA.

86. DISSOLUTION OR INSOLVENCY: Upon dissolution or insolvency of the Association or 11pon loss of ownership of the Common Area by the Association for any cause whatsoever, any portion of the Common Area not maintained by a non-profit corporation, as hereinabove provided, shall be offered to the City of Durham to be dedicated for public use for purposes similar to those to which they were required to be devoted by the Association. If the City of Durham accepts the offer of dedication, such portion of the Common Area shall be conveyed by the Association to the City of Durham subject to the superior right of the Owner of each Lot to an easement for reasonable ingress and egress between his/her Lot and the public street.

In the event that the City of Durham refuses the offer of dedication and conveyances, the Association may transfer and convey such Common Area to any non-profit corporation, association, trust or other organization which is or shall be devoted to purposes and uses that would most nearly conform to the purposes and uses to which the Common Area was required to be devoted by the Association.

SECTION 4

In the case of failure of a lot owner to comply with the terms and provisions contained in this Declaration, the following relief shall be available:

I. An aggrieved lot owner or owners within the subdivision shall have the right to bring an action and recover sums due, damages, injunctive relief and/or such other and further relief as may be just and appropriate.

2. The remedies provided by this declaration are cumulative, and are in addition to any other remedies provided by law.

3. The failure of any person to enforce any restriction contained in these restrictions, the articles of incorporation or the bylaws shall not be deemed to waive the right to enforce such restrictions thereafter as to the same violation or subsequent violation or similar character.

SECTION 5

1. COMMON AREAS. The Developer hereby covenants for itself, its successors and assigns, that it will convey fee simple title of Common Areas to the Association free and clear of all encumbrances and liens, except utility, antenna, drainage and sedimentation, sanitary sewer easements and easements and rights of way of governmental authorities.

2. EASEMENTS OVER COMMON AREAS. All of the Common Areas shall be subject to such easements for driveways, walkways, parking areas, water lines, sanitary sewers, storm drainage facilities, gas lines, telephone and electric power lines, street lighting and landscape decoration, cable television lines and other public utilities as shall established by the Developer or by its successors in title, prior to the conveyance of Lots to subsequent owners of the conveyance of the Property to the Association; and the Association shall have the power and authority to grant and establish upon, over and across the Property conveyed to it, such further easements as are requisite for the convenient use and enjoyment of the Property.

3. EASEMENTS IN FAVOR OF LOTS. All Common Areas shall be subject to an easement in favor of all Lots and shall be deemed appurtenant to all Lots, whereby the owner of each Lot shall have a 9' right and easement of access and enjoyment in and to the Common Areas, subject to each of the following ' .

prov1s1ons:

a. The right of the Association to suspend the rights to use the amenities by an Owner or any person to whom said Owner has delegated his/her right or enjoyment for any period during which any assessment against his/her Lot remains unpaid;

b. The right of the Association to dedicate or transfer all or any part of the Common Areas for such purposes and subject to such conditions as may be agreed to by the members of the Board of Directors.

c. The right of the Association to dedicate or transfer all or any part of the Common Areas for public utility easements;

d. The right of the Association to formulate, publish and enforce rules and regulations as may be established from time to time according to the terms of this Declaration. This instrument effecting such dedication, tra11sfer, conveyance or mortgage shall be sufficient if it is executed by appropriate officers of the Association and contains a recital of the above provisions, and that they l1ave been complied with.

EXHIBIT A

BEGINNING at a stake in the west property line of Cambridge Drive, the southeast comer of the property of Harrison Brook (now or formerly) as conveyed by Deed recorded in Book 1647, Page 621, Durham County Registry and shown on plat of survey recorded in Plat Book 35, Page 9, Durham County Registry, and the plat of survey herein referred to; thence with the west property line of Cambridge Drive the following courses and distances: South 30 <legs. 50' 2811 East 105.05 feet to a stake; thence South 30 <legs 51' 41" East 191.29 feet to a stake; thence South 30 <legs. 55' 14" East 644.64 feet to a stake in the western property line of Cambridge Drive, a northeast comer of Garrett Farms Subdivision, Phase 4, Section 1, as shown on plat of survey recorded in Plat Book 125, Page 161; thence with the north property line of Garrett Farms Subdivision the following courses and distances: South 78 degs. 291 4611 West 671.00 feet to a stake; thence South 78 <legs. 301 1611 West 122.90 feet to a stake; thence South 77 <legs. 181 38" West 493.33 feet to a stake in the north property of line of Garrett Fa1111s Subdivision a new southeast comer of the property of Mortgage & Realty Associates, Inc.; thence along a new east property line of Mortgage & Associates, Inc. the following courses and distances: North 33 <legs. 23' 2011 West 472.14 feet to a point; thence South 84 degs. 25' 55" West 34.05 feet to a point; thence North 62 <legs. 301 22" West 14.91 feet to a point; thence North 30 <legs. 401 12" West 34.57 feet to a point; thence North 34 <legs. 391 351 I West 124.52 feet to a point; thence South 83 <legs. 221 1211 West 80.01 feet to a point; thence continuing ith new property lines of Mortgage & Realty Associates, Inc. in a generally easterly direction the following courses and distances: North 33 degs. 13' 5211 East 331.68 feet to a point; thence South 30 <legs. 461 4211 East 225.00 feet to a point; thence South 23 degs. 541 44" East 75.92 feet to a point; thence North 59 degs. 561 0111 East 208.11 feet to a point; thence North 34 degs. 211 48" East 56.19 feet to a point; thence North 63 <legs. 45' 15" East 180.56 feet to a point; thence North 64 degs. 12' 0711 East 176.45 feet to a point; thence North 60 <legs. 451 IO" East 50.09 feet to a point; thence North 59 degs. IO' 59" East 195.25 feet to a stake irL the southwest comer or south property line of Harrison Brook; thence with the south property line of Harrison Btook North 59 <legs. 101 I 59" East 208.64 feet to a stake, the point and place of BEGINNING, containing 22.12 acres,, more or less, as shown on plat of survey entitled "Boundary Survey-A Portion of The Branch Property" by The John R. McAdams Company, Inc., Engineers/Planners/Surveyors, dated March 26, 1995, as recorded in Plat Book 135, Page 103, Durham County Registry, to which reference is hereby made for a more complete and accurate description by metes and bounds.