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AMENDED, RESTATED AND EXTENDED MASTER DECLARATION OF COVENANTS OF MEADOW VIEW FARMS

IN OAK BLUFFS, COUNTY OF DUKES COUNTY, MASSACHUSETTS

RESERVATION AND RESTRICTIONS

DECLARATION, made this 11th day of November, 2013, by the owners of Residence Lots (as defined below) who have executed and acknowledged this instrument.

WHEREAS, FRANK S. MICHEL, Trustee of MEADOW VIEW FARMS REALTY TRUST under a Declaration of Trust dated January 10, 1984 and recorded with the Dukes County Registry of Deeds in Book 414, Page 68, then sole owner of real property known as "Meadow View Farms" in Oak Bluffs, Dukes County, Massachusetts (hereinafter defined), created a residential community on said land, together with recreational and other appropriate facilities and amenities therein, areas of trees and fields, tennis courts, public and private ways for circulation, and established access to residences and utility services, and in connection therewith executed a Master Declaration dated April 30, 1984 and recorded in the Dukes County Registry of Deeds in Book 414, Page 791 (hereinafter called the "Declaration"), in order to establish common and mutual covenants, conditions, reservations and restrictions for such community;

WHEREAS, the Meadow View Farms Property Owners Association, Inc. (the "Association") was deeded the roads and ways and the common areas within Meadow View Farms by deed dated April 1, 1985 and recorded in Dukes County Registry of Deeds in Book 427, Page 667, and registered in the Dukes County Registry District Office of the Land Court as Document No. 18350, and such Association was assigned the responsibility for administering the terms of the Declaration;

NOW THEREFORE, the undersigned, being a three-fourths majority of the owners of Residence Lots in Meadow View Farms subject to the Declaration, whose names and property descriptions are set forth in Exhibit "A" attached hereto and incorporated herein by reference, acting in accordance with Massachusetts General Laws Chapter 184, Section 27 (b), do hereby agree as follows:

1. To amend, restate and extend said Declaration for an additional term of twenty (20) years from the date on which this instrument is recorded at the Dukes County Registry of Deeds and registered in the Dukes County Registry District Office of the Land Court, in conformance with Article VI, Section 6.01 (B) of the Declaration, in order to (i) confirm the continuing authority and responsibilities of Association and to (ii) assure that all of the Residence Lots in Meadow View Farms (hereinafter defined) are and shall be held, transferred and conveyed subject to and with the benefit of the covenants, restrictions, reservations, easements, charges, and liens hereinafter set forth, which shall be deemed to run with the land for the benefit of, and enforceable by, the owners of all Residence Lots; and

2. To amend and restate such covenants, restrictions, reservations, easements, charges, and liens as more particularly set forth below.

ARTICLE 1: SUBJECT PROPERTY

The land situated within Oak Bluffs, County of Dukes County, Commonwealth of Massachusetts, more particularly described as being all of the land shown on the decree plan issued in Land Court Registration Case No. 41031, being duly filed with the Dukes County Registry District Office of the Land Court, including any and all re-subdivisions thereof, specifically excluding, however, Lot No. 1 (approximately 20.69 acres), shown on said plan, and being all of the land shown on a certain plan of land recorded with Dukes County Registry of Deeds in Oak Bluffs Case File No. 158, to which plan references are hereby made for a more particular description ("Meadow View Farms")

ARTICLE 11: LAND CLASSIFICATIONS PROPERTY USE AND RESTRICTIONS

SECTION 2.01 Land Classifications

The land within Meadow View Farms is hereby divided into the following use classifications:

A. Residence Areas

Referring to the parcel designations contained within the premises being situated as described in Article I above, each of the parcels being numbered and referred to hereinafter as the "Residence Lots".

B. Common Areas

Referring to the parcels now designated as "Common Areas", being situated and more particularly described on the plans referred to in Article I above. Specifically included, but not limited to, are the following: Lot Nos. 46, 47, 48, 49 and 50 shown on said Land Court Plan No. 41031, and Common Areas "A", "B" and "C" shown on the said plan recorded with Dukes County Registry of Deeds in Oak Bluffs Case File No. 158 as referred to above.

C. Vehicular Access Areas

Referring to West Meadow Lane, Upper Meadow Lane, North Meadow Lane, Meadow View Road, High Meadow Lane, South Meadow Lane and East Meadow Lane, all as shown of the plans referred to in Article 1 above.

SECTION 2.02 Residence Areas: Permitted Uses and Restrictions

Each Residence Lot shall be for the exclusive use and benefit of the owner or owners thereof, subject, however, to all of the following limitations and restrictions:

A. Residential Use

No buildings or other structures of any kind shall be erected, placed or allowed to stand on a Residence Lot except a single family residential dwelling house as permitted under applicable law, together with any accessory buildings or structures permissible in the Town of Oak Bluffs under its zoning by-laws, rules and regulations, and such rules for accessory structures promulgated by the Oak Bluffs Health Department for a watershed area, except as set forth herein.

Plans for a garage apartment must be reviewed and approved by the Approval Committee prior to submission to Town boards for approval and permitting.

The use of Residence Lots, houses, garages and/or accessory buildings for the storage of building or landscaping materials, equipment, or other business supplies; in excess of one (1) commercial vehicle (which shall have less than 15,000 gvw), or merchandise which is held or stored for sale, distribution or use in a business is strictly prohibited.

Business activity may be conducted on a Residence Lot only following acquisition of written pre-approval by the Board. No business activity shall (1) be discernible by sight, sound, or have an offensive odor, (2) increase or change the nature of delivery activity or traffic volumes normally found in residential neighborhoods, (3) exhibit any exterior signage, or indication of its presence or any variation from residential appearance, or (4) increase the Association's insurance liability or utility costs.

Any business activity must also be conducted in accordance with the Town of Oak Bluffs, zoning by-laws, all other local, county, state and federal laws and regulations, as well as this Master Declaration, By-laws and other Association rules and regulations.

B. Animals

No animal or bird shall be kept or maintained on any Residence Lot of such type or in such number as to be noisome or offensive, and no animal or bird shall be allowed to enter any area of Meadow View Farms other than the Residence Lot of the owner thereof unless such pet, animal or bird is suitably leashed, caged or otherwise controlled.

C. Improvements and Alterations

No buildings, structures of any kind, or additions or substantial exterior alterations thereto, shall be permitted; and no fences, improvements, or driveways shall be installed, placed or allowed to stand upon any Residence Lot until the size, plans, specifications and locations thereof shall have been approved in writing by the Architectural Approval Committee (hereinafter referred to as the "Approval Committee") provided for in Article Ill hereof,

Except as otherwise required by local or state laws, by-laws, rules or regulations, fences shall not obstruct the view of a Residence Lot from the street, shall not be above 5 feet in height, and shall not be stockade or chain link fence.

No loam, sand, gravel, or other soil material, except that resulting from customary landscaping or from construction permitted and approved hereunder, shall be removed from Meadow View Farms.

The erection of any approved structure on a Residence Lot, once begun, shall be completed with reasonable diligence, shall not unduly result in the loss of any adjoining lot owner's quiet enjoyment of their Lot, particularly during the summer season, and in any event shall be completed within two (2) years. This time frame shall only be extended with the approval of the Board, in its sole discretion.

Temporary buildings or structures installed or used during the construction of a dwelling on a Residence Lot shall be removed immediately after the completion of construction.

No trees or heavy brush shall be planted or allowed to grow on Residence Areas or Common Areas which would materially obstruct pre-existing or established water views within the Meadow View Farms area.

No trees of more than six (6) inches in diameter as measured from chest height shall be removed or altered to maintain said water views or otherwise until plans identifying the specific vegetation to be affected, the work areas, and method by which the work is to be performed thereof shall have been approved in writing by the Approval Committee.

D. Temporary Occupancy

No trailer, mobile home, camper, temporary building or structure of any kind, shall be used for a residence, either temporarily or permanently.

E. Trailers and Tents

No trailer, mobile home, camper, commercial vehicle over 15,000 gvw (gross vehicle weight), construction equipment, landscape materials, permanent tent or similar structure, shall be kept, placed or maintained upon any Residence Lot or parked on any road or vehicular access areas in Meadow View Farms, provided, however, that the provisions of this paragraph shall not apply to temporary construction shelters or facilities maintained during, and used exclusively in connection with, the construction of any improvement approved by the Approval Committee. Any boat stored on a Residence Lot must be stored in a garage or in the rear of the primary home/structure. It cannot be visible from the street. If there is no structure on the Residence Lot, boat(s) and boat trailer(s) shall not be stored on the lot.

F. Nuisances

No rubbish, debris, dead trees, heavy brush, grass over nine (9) inches in height, or firewood of any kind shall be placed or permitted to accumulate upon or adjacent to any Residence Lot which will create a fire hazard or which renders the same or any portion thereof unsanitary, unsightly, offensive or detrimental to the occupants of any other Residence Lot, and no activity shall be conducted or maintained which is or may be offensive or detrimental to any other Residence Lot in the vicinity thereof or to its occupants. Violation will result in delivery of notice from the Board that, unless the activity is discontinued and/or accumulated vegetation waste removed within forty-five (45) days after the notice has been delivered, the Board shall cause the nuisance to be rectified, charge for the work, and impose a daily fine to the homeowner, as provided in Sections 5.03 and 5.05.

G. Repair of Buildings

No building or structure upon any Residence Lot shall be permitted to fall into disrepair, and all buildings and structures shall at all times be kept in good condition and repair and adequately painted or otherwise finished, Violation will result in a notice by the Board, informing the owner thereof that, beginning forty-five (45) days after delivery of the notice, the Board shall impose a daily fine, the amount to be determined by the Directors in consultation with the Approval Committee until the repair is completed, as provided in Sections 5.03 and 5.05.

H. Trash Containers and Collection

Trash, rubbish and garbage shall be kept in covered containers which shall be properly screened and/or enclosed so as not to be visible from neighboring properties, except for such necessary periods when said containers are made available for collection, in which case said containers must be removed from sight and returned to their stored location no later than by noon, one day after collection date,

I. Clothes Drying Facilities

No outside clothes lines or other outside facilities for drying or airing clothes which are visible from neighboring property shall be erected or maintained on any Residence Lot.

J. Lighting

Exterior lighting is needed for the safety and convenience of those using a property,

Upon completion of a residential dwelling, a free-standing outside light shall be installed by the owner on a post adjacent to the junction of the driveway and access road. No exterior lighting, including spotlights, which may impair or create a nuisance for the adjoining Residence Lot(s) are permitted.

K. Restrictions on Further Subdivision

No Residence Lot shall be further subdivided. No portion of any Residence Lot nor any easement or license shall be conveyed as to alter any current property lines without prior approval of the Board of Directors. No portion of any lot line shall be altered,

L. Signs

No signs shall be erected or maintained on any Residence Lot except:

1. Such signs as may be required by law.

2. Security system notification signs.

3. A residential identification sign having a total face area not larger than seventy-two (72) square inches;

4. During the time of construction of any building or other improvement, one job identification sign not larger in area than three (3) square feet.

SECTION 2.03 Residence Areas: Construction of Improvements and Alterations

A. Application for Approval of Improvements and Alterations

Any owner of a Residence Lot proposing to make any improvement which, under Section 2.02 hereof, requires the prior written approval of the Approval Committee shall apply for approval by delivering to the Approval Committee a written application describing the nature of the proposed improvement together with such of the following documents and information as are pertinent, in such number of copies as the Approval Committee may require:

1. A plot plan of the affected property showing the location of existing and proposed improvements and alterations;

2. Floor plans;

3. Drawings showing all elevations;

4. A description of exterior materials and colors, with color samples; and

5. The owner's proposed construction schedule.

B. Basis or Approval of Improvements and Alterations

The Approval Committee shall, after consideration of the items set forth in the foregoing sub-paragraph A and such other matters as it deems necessary, grant the requested approval if the Approval Committee determines that:

1. The proposed improvement or alteration conforms to the provisions of this Declaration, the restrictions herein set forth and the Approval Committee Rules as defined in Section 3.04 in effect at the time the application for approval was submitted; and

2. The proposed improvement or alteration is reasonably compatible with the standards of Meadow View Farms, as embodied in the Approval Committee Rules, and the purposes of this Declaration as to quality of workmanship and materials, as to harmony of external design with existing structures and as to location with respect to vegetation, topography, finished grade, and water views from other buildings and building sites; and

3. The proposed improvement or alteration complies with all applicable laws, specifically including the zoning by-laws and building code requirements of the Town of Oak Bluffs.

C. Certificate of Approval

All approvals given under the foregoing paragraph shall be in writing, provided, however, that any such application for approval which has not been acted upon within forty-five (45 ) days from the date of submission thereof to the Approval Committee shall be deemed approved, and a Certificate to that effect signed by any member of the Approval Committee„ or the President or Secretary of Meadow View Farms Property Owners Association shall be conclusive evidence of such approval. One set of plans as finally approved shall be retained by the Approval Committee as a permanent record.

D. Proceeding with Work

Upon receipt of approval from the Approval Committee or upon the lapse of forty-five (45) days without action as provided in sub-paragraph C of this Section 2.03 the owner of the Residence Lot shall, as soon as practical, but no later than 18 months after approval, commence and diligently proceed with the construction, refinishing, alterations and excavation in accordance with the owner's proposed construction schedule set forth in the documents accompanying the application for approval.

E. Failure to Complete Work

In the event that the construction, reconstruction, refinishing, or alteration of any improvement is not completed within reasonable time, or in any event within two years, or having been completed does not comply with the approval therefore given by the Approval Committee, the Approval Committee shall report the matter to the Board of

Directors, and the Board, after hearing, may direct the owner to remedy the noncompliance or remove the improvement. If the owner does not comply with the order of the Board within the time period set forth in the order, the Board may either remove the non-complying improvement or remedy the non-compliance and the owner shall reimburse the Meadow View Farms Property Owners Association, upon demand, for all reasonable expenses incurred in connection therewith.

SECTION 2.04 Common Areas: Permitted Uses, Construction of Improvements and Alterations

Common Areas shall be used for outdoor recreation and conservation purposes. No improvement, excavation or work which in any way alters any Common Area or Easement from its natural or existing state on the date such area was conveyed to the Association shall be made or done except within the restrictions and limitations of this Section 2.04.

A. Limitation on Construction

Only the Association shall construct, reconstruct, refinish, alter or maintain any road or improvement upon, or shall make or create any excavation or fill upon, or shall change the natural or existing drainage of, or shall destroy or remove any tree, shrub, or other vegetation from any Common Area or Easement. The Association shall have the right, at any time, to plant, replace, maintain and cultivate shrubs, trees, grass and plantings and to construct, reconstruct, refinish, alter and maintain any recreational facility or improvement on any portion of the Common Areas. However, only structures or improvements enhancing the natural recreational amenities of Meadow View Farms shall be constructed or allowed on or within the Common Areas.

SECTION 2.05 Vehicular Access Areas: Permitted Uses and Restrictions.

Streets and ways shall at all times be subject to a permanent appurtenant easement for the benefit of all owners of Residence Lots in common with others lawfully entitled thereto, and to use the same for all purposes for which streets and ways are now or may hereafter customarily be used in said town, specifically including the right to install, maintain and repair underground utility systems. All maintenance, repair and improvements of said streets and ways (including snow removal) shall be done by the Association and the cost thereof shall be included in the expenses of the Meadow View Farms Property Owners Association subject to assessment pursuant to Section 5.02.

SECTION 2.06 Tennis Area

The Residence Lot owners shall have the sole appurtenant perpetual right and easement to use the tennis courts owned by and resident in Meadow View Farms. The said use of the tennis courts shall be consistent with the appropriate rules and regulations to be established by the Meadow View Farms Property Owners Association. The cost of maintenance, repair and operation of the said tennis courts shall be included in the expenses of the Meadow View Farms Property Owners Association subject to assessment pursuant to Section 5.02.

ARTICLE 111: ARCHITECTURAL APPROVAL COMMITTEE

SECTION 3.01 Organization, Power of Appointment and Removal of members

A. Approval Committee Composition

The Approval Committee shall consist of five (5) members.

Terms of Office: The terms of the Approval Committee members shall be for such periods of three (3) years from the date of the Annual meeting or less as specified by the Directors, in order that such terms shall expire at the end of the fiscal year. Any new member appointed to replace a member who has resigned or been removed shall serve such member's unexpired term.

D. Appointment and Removal

The right to appoint and remove all members of the Approval Committee shall be vested solely in the Board of Directors acting on behalf of the Association, provided, however, that no member may be removed from the Approval Committee except by the vote or written consent of three-fourths of all the members of the Board,

E. Resignations

Any member may, at any time, resign from the Approval Committee by giving written notice thereof to the Board.

SECTION 3.02 Duties

It shall be the duty of the Approval Committee to consider and act upon any and all applications for improvements or alterations submitted to it pursuant to Section 2.03 hereof, to inspect newly completed improvements and alterations, to adopt Approval Committee rules, to perform other duties delegated to it by the Board.

SECTION 3.03 Meetings and Compensation

The Approval Committee shall meet from time to time as necessary to perform its duties hereunder. The vote or written consent of any three regular members, at a meeting or otherwise, shall constitute the act of the Approval Committee unless the unanimous decision of the Committee is specifically required by any provision of this Declaration. The Approval Committee shall keep and maintain a written record of all actions taken.

Members of the Committee shall be entitled to reimbursement from the Association for all reasonable expenses incurred by them in the performance of any Approval Committee functions, but shall not be entitled to compensation unless specifically authorized by the Board.

SECTION 3.04 Architectural Approval Committee Amendments

The Approval Committee may adopt, amend and repeal by unanimous vote rules and regulations to be known as "Approval Committee Amendments". The amendments will be accessible to Residence Lot owners.

SECTION 3.05 Approval Committee Certificate of Compliance

Within forty-five (45) days after written demand is received by the Approval Committee from an owner of a Residence Lot, the Approval Committee shall deliver to the owner a certificate in recordable form executed by one of its members, certifying (with respect to such Residence Lot) that as of the date thereof either (a) all improvements made and other work done upon or within said Residence Lot complies with the provisions of this Declaration and plans and specifications approved hereunder; or (b) such improvements or work do not comply, in which event the certificate shall also identify the noncomplying improvements or work and set forth the nature of such non-compliance. All persons shall be entitled to rely on said certificate with respect to the matters therein set forth, such matters being conclusive as between the Association and all Owners of Residence Lots, and those claiming or deriving any interest by, through or under them.

SECTION 3.06 Liability

Neither the Approval Committee nor any member thereof shall be liable to the Association, any owner of a Residence Lot, or to any other party, for any damage or loss suffered or claimed on account of (a) the approval or disapproval of any plans, drawings or specifications; (b) the construction or performance of any work, whether or not pursuant to approved plans, drawings, and specifications; (c) the development of any property; or (d) the execution, recording or filing of a certificate pursuant to Section 3.05 hereof, whether or not the facts therein are correct. This provision shall not be construed to relieve the Approval Committee or any member thereof from individual liability for actions not conducted in good faith.

ARTICLE IV: MEADOW VIEW FARMS PROPERTY OWNERS ASSOCIATION

SECTION 4.01 Organization of the Association

The Meadow View Farms Property Owners Association (herein referred to as the Association) is a non-profit Massachusetts corporation, organized under provisions of Chapter 180 of the Massachusetts General Laws, charged with the duties and vested with the powers prescribed by law and set forth in the Articles, By-Laws and this Declaration. Neither the Articles nor the By-Laws shall, for any reason, be amended or otherwise changed or interpreted so as to be inconsistent with the provisions of this Declaration.

SECTION 4.02 Membership: Qualifications; Rights and Duties

The owner or owners, from time to time, of each Residence Lot shall be members of the Association, and one Membership shall be appurtenant to each Residence Lot. The qualifications of such Membership and the rights, duties, privileges and liabilities of members shall be as set forth in the Declaration and in the By-Laws of the Association.

SECT10N 4.03 Voting

Each Membership (i.e., each Residence Lot) shall be entitled to one vote, regardless of the number of owners of such Residence Lot, provided, however, that:

1. Each Membership shall be held and exercised as a unit and shall not be divided among several owners of any Residence Lot. To that end, whenever any Residence Lot is owned of record by more than one person, the several owners of such Residence Lot shall (a) determine and designate which one of such owners shall be authorized and entitled to cast votes, execute instruments and otherwise exercise the right appertaining to such Residence Lot hereunder, and (b) notify the Secretary of the Association of such designation by a notice in writing signed by all of the record owners of such parcel. Any such designation shall take effect upon receipt by the Secretary and may be changed at any time and from time to time by notice as aforesaid. In the absence of any such notice of designation, the Secretary may designate any one such owner for such purposes,

SECTION 4.04 Duties of the Corporation

The Association shall have the obligation, subject to and in accordance with the provisions of this Declaration, the Articles and the By-Laws to perform the following duties for the benefit of the owners of Residence Lots.

A. Operation of Common and Vehicular Access Areas

To operate and maintain or provide for the operation and maintenance of all Common Areas and the facilities thereof and thereon and to keep all improvements of whatever kind and for whatever purpose from time to time located thereon in good order and repair; and to maintain the streets and ways until such time as they are accepted by the Town of Oak Bluffs.

B. Payment of Taxes

To pay all real and personal property taxes and assessments levied upon any property owned by the Association, Such taxes and assessments may be contested or compromised by the Association.

C. Public Service

To contract for or provide (to the extent adequate services are not provided by a public authority) such buildings and grounds maintenance, snow plowing service, and other services and facilities of a public or quasi-public nature; as may be deemed necessary or desirable for the effectuation of the purposes of this Declaration. In providing such facilities and services, the Association may contract with or delegate its duties to any entity organized for such purposes.

D. Insurance

To maintain in full force and effect such insurance as the Board shall deem necessary to protect the Association from loss by reason of fire or other casualty and from liability for personal injury and property damage and to obtain and maintain such fidelity and other bonds as the Board shall deem appropriate to protect to Association.

E. Other

To carry out the duties of the Association as set forth in this Declaration, the Articles and the By-Laws.

SECTION 4.05 Powers and Authority of the Association

The Association shall have all of the powers of a nonprofit corporation organized under Chapter 180 of the General Laws of the Commonwealth of Massachusetts, subject only to such limitations upon the exercise of such powers as are expressly set forth in the Articles, the By-Laws and this Declaration. Tt shall have the power to do any and all lawful things which may be authorized, required or permitted to be done by the Association under and by virtue of this Declaration, the Articles and the By-Laws, and to do and perform any and all acts which may be necessary or proper for or incidental to the exercise of any of the express powers of the Association. Without in any way limiting the generality of the foregoing provisions, the Association shall have the following power and authority at any time:

A. Assessments

To levy assessments on the owners of Residence Lots, and to receive and collect payment of such assessments, in accordance with the provisions of Article V thereof, the Directors have explicit powers to levy and collect assessments.

B. Easements and Rights-of-Way

To grant easements and rights-of-way, and such fee titles as may be required by governmental agencies or utility companies, for the purpose of constructing, erecting, operating or maintaining (1) the streets and ways contained in the Vehicular Access Areas, and (2) pipes, lines, cables, conduits and other facilities for the provision of water, electric, telephone, drainage, sewage disposal and other utility services in, on, under and through the Common Areas and the Vehicular Access Areas.

C. Employment of Agents

To employ a manager and such other employees as are necessary to carry out the responsibilities and duties of the Association.

SECTION 4.06 Rules

A. Rulemaking Power

Subject to the provisions of this Declaration, the Board may from time to time adopt, amend and repeal rules and regulations governing, among other things, use of any Common Areas and Vehicular Access areas under the jurisdiction of the Association.

Said rules may restrict and govern the use of the Common Areas and Vehicular Access Areas. Said rules may also include parking restrictions and limitation, limitations upon vehicular travel, restrictions on the types or types of vehicles which may be permitted to enter or use such Vehicular Access and/or Common Areas, and restrictions on the maintenance or landscaping or other improvements on any Residence Lot which may obstruct the vision of motorists or which create a hazard for vehicular or pedestrian traffic. The Rules are available and accessible to Resident Lot owners.

B. New Recordation of Rules

A copy of the rules, as they may from time to time be adopted, amended or repealed, shall be mailed, conveyed electronically, or otherwise delivered to each Residence Lot owner and may, but need not, be recorded or filed. Upon such mailing, other delivery or recordation and filing, said Rules shall have the same force and effect as if they were set forth in and were a part of this Declaration.

SECTION 4.07 Liability of Board Members and Manager

No Member of the Board, the manager, or other employee of the Association shall be personally liable to any Residence Lot owner, or to any other party, for any damage, loss or prejudice suffered or claimed on account of any act or omission of the Association, the Board, the manager or any other representative or employees of the Association or the Approval Committee, provided, however, that such actions were conducted in good faith.

ARTICLE V: FUNDS, DUES, ASSESSMENTS, and FINES.

SECTION 5.01 Operating Fund

The Board shall establish an operating fund for the Association into which shall be deposited all monies paid to the Association and from which disbursements shall be made in performing the functions of the Association under this Declaration, the Articles and the By-Laws.

SECTION 5.02 Operation and Maintenance Assessments

A. Regular Dues

At least thirty (30) days prior to the commencement of each fiscal year, the Board shall prepare and adopt a budget for the Association reflecting the estimate of the expenses to be incurred and designated reserves by the Association during such fiscal year in performing its functions under this Declaration, the Articles and the By-Laws. The estimate of expenses and designated reserves so determined shall be divided by the total number of Residence Lots and the resulting amount shall be assessed as of the first day of such fiscal year to the owners of each Residence Lot.

B. Special Assessments

If, at any time during any fiscal year, the regular assessment proves inadequate for any reason, the Board may levy a special assessment as of such date as it may determine in the amount of such actual or estimated inadequacy, which amount shall be assessed to the owners of all Residence Lots.

C. Payment of Dues and Assessments

Dues and Assessments shall be due and payable within thirty (30) days after the Board notifies property owners, otherwise specified by the Board.

D. Obligation of Owners

All owners of Residence Lots shall be liable for all dues and assessments levied upon them pursuant to this Declaration, the Articles and By-Laws.

SECTION 5.03 Reimbursement Assessment

The Board shall levy a reimbursement assessment against any owner of a Residence Lot, as a result of that owner's failure to comply with the provisions of the Articles, the By Laws, the Rules, pursuant to Section 4.06B, or the Approval Committee Rules, where monies are expended by the Association to cure the non-compliance, Such assessment by the Directors in addition to the amount so expended, may include reasonable attorney's fees, and shall be due and payable to the Association when levied. The Board has the authority and responsibility to collect the reimbursement assessment.

SECTION 5.04 Enforcement, Dues, and Assessments

Assessments levied hereunder together with interest thereon and all reasonable costs of collection thereof, including reasonable attorney's fees and court costs, shall be a charge on the Residence Lot and shall constitute a continuing lien upon said property against which such assessment is made, and shall also be the personal obligation of the owner or owners from the time the payment thereof became due.

Any assessment or dues not paid within thirty (30) days after the due date shall bear a fine as the Directors may decide, for that current fiscal year, and additional 10% interest on the unpaid balance, compounded annually.

The Association may bring an action at law against the Owner personally obligated to pay the same, or foreclose the lien against the property. The Association may enforce each such lien by selling any Residence Lot subject thereto, and to satisfy the same, in the manner provided by law for the foreclosure of mortgages containing a power of sale, provided that notice of the commencement of such proceedings is duly filed for recording in the Dukes County Registry of Deeds within two years of the date on which payment becomes due, Enforcement efforts may continue until the outstanding assessment has been paid in full.

Sale or transfer of any Residence Lot shall not affect the assessment lien, except as required by law. No sale or transfer shall relieve such Residence Lots or Owners thereof from liability for any assessments thereafter becoming due or from the lien thereof.

Section 5.05 — Fines

If an owner fails to comply with the provisions of the Articles in the Declaration, in addition to a reimbursement assessment under section 5.03, the Directors may impose a fine in accordance with rules adopted pursuant to section 4.06. Such fine shall be the personal obligation of the owner or owners of the Residence Lot at the time the fine was imposed and shall constitute a continuing lien upon such property subject to enforcement in accordance with section 5.04

ARTICLE VI: MISCELLANEOUS PROVISIONS

SECTION 6.01 Amendment and Duration

A. Amendment

Except as otherwise herein expressly provided, this Declaration may be amended at any time by:

1. A vote adopting or written consent to, the proposed amendment by

(a) a three-fifths majority of the Board and

(b) a majority of the owned Residence Lots,

2. Such amendment shall not be effective until there has been filed and recorded a certificate signed by the Secretary or Clerk of the Association setting forth the amendment and the facts relating to its adoption by the Board and the Residence Lot Owners. However, no such amendment shall be adopted that substantially derogates from the original intent and purpose of this Declaration.

B. Duration of Restrictions

Subject to the provisions of sub-paragraph A of Section 6,01 hereof, the restrictions set forth in this Declaration shall continue and remain in full force and effect in all events until one hundred fifty (150) years from April 30, 2033; and may thereafter be extended, and continued in full force and effect for further periods of twenty (20) years each in the manner provided in Massachusetts General Laws Chapter 184, Section 27, as it may be amended from time to time.

SECTION 6.02 Enforcement and Non-Waiver

A Right of Enforcement

The restrictions set forth in this Declaration are for the benefit of all the land described herein and shall run with the land. Except as otherwise provided herein, any Owner of any Residence Lot or the Association shall have the right to enforce any or all of the provisions of this Declaration, including without limitation, the restrictions herein set forth,

B. Violation of Law

Any violation of any applicable local, state or federal law or governmental regulation pertaining to the ownership, occupation or use of any property within Meadow View Farms is hereby declared to be a violation of this Declaration and of the restrictions herein set forth and subject to any or all of the enforcement procedures set forth in the Declaration.

SECTION 6.03 Delivery of Notices and Documents

Any written notice or other document relating to or required by this Declaration may be delivered either personally, electronically, by expedited mail service, or by US postal service mail. If by US Postal Service mail, it shall be deemed to have been delivered three (3) business days after a copy of same has been deposited in the United States mail, certified or registered mail, postage prepaid, return receipt requested.

SECTION 6.04 Construction and Severability: Singular and Plural

A. Provisions Severable

Each of the provisions of this Declaration shall be deemed independent and severable, and the invalidity or partial invalidity of any provision or portion thereof shall not affect the validity or enforceability of any other provision,

B. Singular Includes Plural

Unless the context requires a contrary construction, the singular shall include the plural and the plural the singular; and the masculine, feminine or neuter shall include the masculine, feminine and neuter.

C. Captions

Captions or titles used in this Declaration are intended solely for convenience or reference and shall not affect that which is set forth in any of the provisions hereof.

In all other respects, the terms and provisions of the Amended Declaration are hereby ratified and confirmed.

The parties hereto agree that this AMENDED, RESTATED AND EXTENDED MASTER DECLARATION OF COVENANTS OF MEADOW VIEW FARMS may be executed in one or more counterparts, each of which shall be deemed an original document but shall together constitute one and the same document.

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