RIVER RUN COLORADO RULES AND REGULATIONS

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RIVER RUN COLORADO

RULES AND REGULATIONS

RIVER RUN

COLORADO

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TABLE OF CONTENTS

RULES AND REGULATIONS

1. INTRODUCTION 5

2. RULES AND REGULATIONS INCORPORATED INTO PARCEL GROUND LEASE 5

3. DEFINITIONS 5

4. COMPLIANCE WITH LAW AND RULES AND REGULATIONS 6

5. PROJECT PERSONNEL 7

6. OCCUPANCY 7

7. GUESTS 7

8. THE “REPAIR OR REPLACEMENT, OR INSTALLATION OF

NEW ACCESSORY STRUCTURE OR LANDSCAPING “ 7

9. MAINTENANCE OF HOME PARCEL AND HOME 8

10. GENERAL MAINTENANCE OF HOME AND HOME PARCEL 9

11. ADVERTISEMENTS 10

12. ENTRY UPON RESIDENT’S HOME PARCEL 10

13. PARKING 10

14. MOTOR VEHICLES AND BICYCLES 11

15. CONDUCT 12

16. PETS 12

17. RENTING, SUBLETTING OR ASSIGNMENT 13

18. FIXTURES 13

19. NO SOLICITATION 13

20. COMPLAINTS 13

21. THE “GRIEVANCE AND APPEAL POLICIES AND PROCEDURES” 14

22. REVISIONS OF RULES; SEVERABILITY; MISCELLANEOUS 14

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EXHIBITS

EXHIBIT “A” PET RULES AND AGREEMENT

EXHIBIT “B” REPAIR OR REPLACEMENT, OR INSTALLATION OF NEW ACCESSORY STRUCTURE OR LANDSCAPING

EXHIBIT “C” GRIEVANCE AND APPEAL POLICIES AND PROCEDURES

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RIVER RUN COLORADO

Under development by River Run Colorado QOZB, LLC,

a Delaware limited liability company

RULES AND REGULATIONS

RIVER RUN

COLORADO

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RESIDENT INITIALS RESIDENT INITIALS

1. INTRODUCTION

These Rules and Regulations have been developed to assure the fair and consistent operation of River Run

Colorado (the “Project”) and the maintenance of good relations with its residents.

 AllcapitalizedtermsappearingintheseRulesandRegulationsaredenedinSection3below.

2. RULES AND REGULATIONS INCORPORATED INTO PARCEL GROUND LEASE

The following Rules and Regulations are a part of the Parcel Ground Lease executed by Owner and River Run

Colorado QOZB, LLC, “Developer” of the Project. A violation of these Rules and Regulations is also a violation

of the Parcel Ground Lease. Further, any violation of the Parcel Ground Lease shall be deemed a violation

of these Rules and Regulations and enforceable hereunder, including, without limitation, against a Resident

who is not a party to the Parcel Ground Lease. Please read these Rules and Regulations carefully and keep

themonle,astheyconstituteabindingagreementbetweenyouandtheDeveloper.TheDeveloperand

its designated manager, (the “Manager”) will interpret and enforce these Rules and Regulations as either

Developer or Manager determines in good faith to be reasonable in the applicable circumstances.

3. DEFINITIONS

 Thedenitionssetforthbelowshallapplyunlessthecontentinwhichthedenedtermisusedindicatesthat

a different meaning is intended:

A. “Consent” or “approval” shall mean Manager’s written consent. Consent of or approval by Manager

or other similar terms as used in these Rules and Regulations, or in other documents referred to in

these Rules and Regulations, means that Manager must issue prior written approval to a Resident

before such person commences any action requiring such consent or approval. If Manager’s consent

or approval is required, a written request must be submitted to the Manager describing the action

proposed to be taken and requesting Manager’s consent or approval prior to taking any such action.

 B. “County”shallmeanGareldCounty,Colorado.

C. “Developer” means River Run Colorado QOZB, LLC, a Delaware limited liability company.

D. “Guest,” means and includes all agents, invitees, permittees, licensees, or other persons in the Project

or at the Home at the invitation, request, or tolerance of a Resident, subject to the limitations set forth

in Section 7 below.

 E. “Home”shallmeanthe“Improvements”asdenedinanOwner’sParcelGroundLease.

F. “Home-Based Business” shall mean any business operated solely from the Home without regard to

whether a business license is required. A Home-Based Business shall be allowed to operate in the

Project only so long as the following criteria are met: 1) the Home continues to be used primarily for

residential purposes; 2) the business does not involve any advertisement that includes the address

of the Home or the Project; 3) the business does not involve any employees, clients, customers,

vendors, contractors, subcontractors, business associates, or others of a similar nature visiting the

Home; 4) the business does not involve deliveries or pick-ups of mail or packages that, in Manager’s

determination, are in excess of a level average for residential occupancy; 5) the business does not

involve manufacturing of any kind in the Home or the Project; 6) the business is not a pet-care or

child-care business, which are expressly prohibited, and 7) the business is not illegal, does not violate

any local ordinances and complies with all applicable business license requirements.

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RESIDENT INITIALS RESIDENT INITIALS

G. “Home Parcel,” shall mean the real property subject to a particular Parcel Ground Lease on which a

Home is located. The legal description for each Home Parcel is set forth in Exhibit B to the Parcel

Ground Lease.

H. “Manager” shall mean Camp Colorado River, LLC or other entity that manages the Project on behalf

of Developer.

I. “Owner” shall mean an owner of a Home and the “Lessee” under a Parcel Ground Lease for the

Home Parcel.

J. “Parcel Ground Lease” shall mean the applicable Parcel Ground Lease entered into between an Owner

and the Developer, which contains the terms and provisions for an Owner’s ground lease of the

Home Parcel.

K. “Project” shall mean River Run Colorado.

L. “Project Common Areas” shall mean any common use area or facilities located within the Project

that are generally available to all Residents, subject to posted rules, the terms of these Rules and

Regulations, and the terms of your Parcel Ground Lease. Currently, the Project Common Areas consist

solely of the common dog park serving the Project.

M. “Pet Rules” shall mean the provisions set forth in Exhibit “A” as further described in Section 16.

N. “Private Residential Purposes” shall mean that Residents must use the Home and Home Parcel for

residential occupancy purposes. Residents are expressly prohibited from using the Home and/or

Home Parcel (a) primarily for storage of property or (b) for business or commercial activity of any

nature; provided, however, that Residents may conduct Home-Based Businesses in accordance with

these Rules and Regulations and applicable law.

O. “Resident(s)” shall mean any person who lawfully occupies a Home, either as an Owner of the Home

or as a long-term tenant, in accordance with these Rules and Regulations and the applicable Parcel

Ground Lease.

4. COMPLIANCE WITH LAW AND RULES AND REGULATIONS

A. Residents and Guests may use Resident’s Home, Home Parcel and Project Common Areas only in strict

compliance with these Rules and Regulations and the provisions of the Parcel Ground Lease.

B. You, as a Resident, agree to abide and conform with all applicable laws and ordinances, all terms and

conditions of these Rules and Regulations, all rules, regulations, terms and provisions contained in

the Parcel Ground Lease and such rules, regulations, terms and provisions as may, from time to time,

  beamended,modiedorotherwisechangedbyDeveloper.Youareresponsibleforassuringthatyour

Guests abide by and conform to all requirements set forth in these Rules and Regulations and all

terms and conditions set forth in the Parcel Ground Lease. You are solely responsible for the acts

and/or conduct of your Guest(s) and any damage caused by your Guest(s) within the Project. A violation

by a Guest will be deemed a violation by you.

C. Manager will attempt in good faith and as it deems reasonable under the circumstances to equally

and impartially obtain the cooperation and compliance of all Residents and their Guests with respect

to the Rules and Regulations and other conditions of residency. You, as a Resident, recognize that

Manager’s ability to obtain compliance is dependent upon a number of factors, including the

cooperation of all Residents and their Guests. You agree, therefore, that the enforcement of the Rules

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RESIDENT INITIALS RESIDENT INITIALS

and Regulations are a private matter between Manager and each Resident individually. You agree

  thatyouarenotandshallnotbecomeathird-partybeneciaryofanyotheragreementbetweenthe

Developer and any other Owner or Resident in the Project.

D. Residents agree that they will notify Manager, in writing, regarding any complaints of violations of

these Rules and Regulations. The written complaint must be dated and signed by the complaining

party. If such a complaint is not in writing, Manager may not take action. Neither the Developer nor

the Manager is liable to any Resident for failure to act upon an oral complaint. For violations requiring

immediate attention, Resident should immediately email and call the Manager.

E. You, as a Resident, recognize that Manager will not be liable to you for normal, day-to-day disturbances

that may result from the close proximity of other Residents, commercial and quasi-commercial

activities and/or persons within the Project. Manager will not be responsible to you for monitoring

each routine disturbance, disagreement or minor problem that may occur between neighbors. If you

are unreasonably disturbed or bothered by the activity of another Resident or the Guest of another

Resident, you should attempt to reasonably resolve any such problem directly with the other Resident.

If the disturbance is of a criminal nature, then you should immediately contact the appropriate

  authoritiesorlawenforcementagencyandthencontacttheManagerandlloutacomplaintform.

To report an emergency, call 9-1-1.

F. Any violation of the Rules and Regulations or the Parcel Ground Lease shall be deemed a public

nuisance. You, as a Resident, agree that a breach of any of the Rules and Regulations or the Parcel

Ground Lease cannot reasonably or adequately be compensated in damages in an action of law

and, therefore, Developer shall be entitled to injunctive relief including, but not limited to, restraining

you from continuing to breach any such Rules and Regulations as well as the Parcel Ground Lease

  andalltermsandconditionsspeciedtherein,ortoallowacondition,violationoftheseRulesand

Regulations or the Parcel Ground Lease, term or condition to exist or continue to exist.

5. PROJECT PERSONNEL

Developer shall be represented by Manager, which management may or may not, at Developer’s sole discretion,

include a resident manager and/or on-site manager.

6. OCCUPANCY

A. Number of Occupants. The number of occupants of a Home shall be limited to four.

B. Restriction on Use of Homes. Homes are to be used solely as single-family residences and strictly in

compliance with the Private Residential Purposes.

7. GUESTS

You agree to acquaint all Guests with the conditions of occupancy of the Project, including, but not limited to,

the Project’s Rules and Regulations. You are personally responsible for all the actions and conduct of your

Guests. A violation of any occupancy requirements or these Rules and Regulations by a Guest is also a

violation by you as such Guest’s sponsor. Manager may, at its sole discretion, elect to proceed against the

Guest only, you only, or both you and the Guest to enforce the occupancy requirements and Rules and

Regulations of the Project.

8. “REPAIR OR REPLACEMENT, OR INSTALLATION OF NEW ACCESSORY STRUCTURE OR LANDSCAPING “

Is attached hereto as Exhibit “B” and incorporated herein by reference.

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9. MAINTENANCE OF HOME PARCEL AND HOME

A. The Home and Home Parcel shall be maintained in conformance with the Parcel Ground Lease and

these Rules and Regulations.

B. Each Resident must maintain his or her Home, structures, improvements and other objects attached to

or placed on the Home or Home Parcel in good condition and repair in a neat, clean, attractive

and well-kept fashion. If a Resident fails to maintain his or her Home as required by these Rules and

Regulations, Manager may serve a notice (“Maintenance Notice”) requiring compliance with the

  specic terms of such notice within fourteen (14) days. If a Resident fails to comply with the

Maintenance Notice, Manager may, following a thirty (30) day notice to Resident of the requirement

to repair and the failure of the Resident to timely and properly complete such repair, complete any

work required to bring the Home and/or Home Parcel into compliance with these Rules and Regulations

and charge the Resident for all reasonable fees and costs paid to complete such work or, if necessary,

have such work completed by a third party and/or take whatever other legal action that is necessary

to obtain compliance. The incurred costs shall be immediately due and payable to Developer by

the Resident.

C. Landscaping and drainage:

(1) Resident is not permitted to add trees or plantings to the Home Parcel without prior written

approval of Manager. Manager retains the right to determine the location of and the type

of trees and shrubs that may be planted. Residents shall be responsible for all maintenance

including, without limitation, trimming and other care of any tree, shrub or other landscaping

feature planted or installed by Resident pursuant to this Subsection.

(2) To avoid damage to underground utilities, Resident must obtain Manager’s written consent

before digging or drilling into the ground. Resident shall be responsible for all costs to repair

any utilities or Project property damaged by Resident, whether the digging or drilling was

authorized by Manager or commenced in violation of this Rule, and for all costs to repair any

other damage to underground utilities resulting from any other activity on the Home Parcel

by the Resident.

(3) The existing drainage pattern and grading of the Home Parcel may not be changed without

Manager’s written consent. Any Resident who creates a drainage problem will be required

to correct improper drainage at Resident’s expense, including, but not limited to, re-leveling

or otherwise adjusting Resident’s Home or repairing and/or replacing any damage to

improvements on adjacent Home Parcel’s or common areas.

D. The Resident shall be, individually and collectively for the entire household, including without

limitation all occupants, Guests or invitees, liable and responsible for damage to the Resident’s

Home Parcel, to any adjacent Home Parcel and to any common areas and Project Common Areas,

including, without limitation, the utility systems and the roadways, resulting from landscaping design,

maintenance and installation. Pursuant to this Subsection D, if a Resident plants any landscaping

upon his or her Home Parcel that causes damage to the common areas and/or Project Common Areas

or allows any landscaping damage to the common areas and/or Project Common Areas, then such

Resident shall be liable and responsible for such damage.

E. Developer shall maintain the Home Parcel landscaping installed by Developer, the common

roadway system and the Project Common Areas as described in the Parcel Ground Lease, but Developer

shall not be responsible for individual driveways, patios or any portion of the Home or Home Parcel

(other than Developer-installed landscaping on the Home Parcel). Such areas within the Home Parcel

shall be the responsibility of Resident. Developer and Manager shall have the right of entry and

access upon the Home Parcel as it deems necessary or advisable to accomplish its duties.

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F. All Owners acknowledge and agree that no Resident shall have any ownership interest in any portion

of the Project apart from such Owner’s Home. To the extent Developer grants to Residents any rights

of use of the Project Common Areas or any other portion of the Project, the same shall be at Developer’s

sole and absolute discretion.

10. GENERAL MAINTENANCE OF HOME AND HOME PARCEL.

A. Storage Outside the Home. Storage by Resident of any personal property on the outside of the

Home is prohibited. This includes, but is not limited to, storage of boxes, trunks, wood, pipe, bottles,

garden tools, mops, ladders, paint cans, bicycles, kayaks and similar sports/recreation equipment or

any item that is unsightly in appearance.

(1) Only outdoor patio furniture and outdoor grills may be used on the covered patios of the

   Homeandthere-pitarea.Managerreservestherighttodetermine,initssolediscretion,

what constitutes outdoor patio furniture and grills.

(2) No towels, rugs, clothing or laundry of any description may be hung outside of a Home at

any time.

B. Paving Surfaces. All concrete, asphalt, or other driveway surfaces shall be kept clean and maintained

free of oil, rust and all other sticky, grimy or oily substances that will degrade the clean appearance

of these surfaces. No concrete, asphalt or similar surfaces may be installed on a Home Parcel without

prior written approval of Manager.

C. Street Area. Resident shall keep the street area in front of their Home Parcel free from debris.

D. Hazardous Substances. Storage, handling and/or disposal of any hazardous substances must be done

in compliance with all applicable local, state and federal laws.

  (l) ForpurposesofthisSection10(D),“hazardoussubstance”referstoanyammable,combustible,

   explosiveortoxicuid,material,chemicalorsubstance(including,butnotlimitedto,paint,

   motor oil and other vehicle uids, herbicides, insecticides, poison, chemicals, solvents,

detergents or other toxic materials).

(2) No hazardous substances may be stored on the Home Parcel except such hazardous substances

as are customarily used for normal household purposes, and then only in quantities reasonably

necessary for normal household purposes.

(3) Resident shall not dispose of any hazardous substances about Resident’s Home Parcel, other

Home Parcels in the Project, the Project’s common areas or any other area of the Project

(including, but not limited to, the sewer system or other drainage areas, the street gutters or

the driveway areas, accessory equipment or elsewhere on the Home Parcel).

(4) In the event that a Resident stores or disposes of any hazardous substance about the Resident’s

Home Parcel or elsewhere in the Project, such Resident shall immediately and appropriately

remove the hazardous substances at the Resident’s expense. If the Resident fails to remove

the hazardous substances within a reasonable time (as determined by Manager), Manager

may remove the hazardous substances, and all of Manager’s costs related to such removal

shall be immediately due and payable to Developer by Resident. Resident agrees to indemnify

Developer against, and hold Developer harmless from, any loss, liability, damage or expense,

including, without limitation, reasonable attorneys’ fees, which (either directly or indirectly)

the Developer may incur or suffer by reason of the storage or disposal by Resident of any

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hazardous substances on Resident’s Home Parcel, or other Home Parcels in the Project or any

other areas of the Project.

E. Water Shut-off; Irrigation Equipment. If one of the Project’s water shut-off valves or other water or

irrigation equipment is located on Resident’s Home Parcel, it must be kept uncovered and accessible

at all times, and Developer and Manager shall have the right of access and use of same.

F. Garbage and Trash Disposal. Resident is required to contract for and pay for Town of Silt trash pick-up

services. Developer will provide an enclosure to screen trash cans curbside. Disposal of garbage and

trash shall be limited to normal and customary amounts and types generated by a residential

household. Resident may not use adjacent KOA trash collection facilities.

G. Maintenance and Appearance of Home and Home Parcel by Resident. Resident shall maintain

Resident’s Home and Home Parcel in a clean and sanitary condition and cause all rubbish and other

debris to be removed from Resident’s Home and Home Parcel on a regular basis. Resident is responsible

for maintaining and repairing Resident’s Home and all approved accessory equipment and structures,

and Resident must keep such accessory equipment and structures in good condition and repair at all

times. Resident’s obligation applies, without limitation, to the following: Resident’s Home, all

approved accessory equipment and structures, walkways and driveways located on Resident’s Home

Parcel and any utility connecting lines from the meter or utilities to Resident’s Home.

11. ADVERTISEMENTS.

All on-site sales are prohibited, including, without limitation, patio sales, moving sales and yard sales.

Resident may place a sign in the window of the Home stating that the Home is for sale or exchange, and such

sign shall state only the name, address and telephone number of the owner of the Home or Resident’s agent.

All other exterior advertising, including, but not limited to “open house” signs, and “garage sale” signs, are

prohibited.

12. ENTRY UPON RESIDENT’S HOME PARCEL.

Manager shall have a right of entry upon all Home Parcels, without the need for notice to the Owner or

Resident, for Manager to perform its duties hereunder, including, without limitation, to maintain Developer

installed landscaping and to maintain, repair, operate or replace the irrigation system serving same. Manager

shall have the further right of entry upon all Home Parcels for Manager to perform maintenance of utilities,

for maintenance of the Home Parcel where the Resident fails to maintain the Home Parcel in accordance

with these Rules and Regulations and for the protection of the Project, upon providing reasonable notice and

at any reasonable time. Manager may enter a Home Parcel and Home without the prior consent of Resident

in the case of an emergency.

13. PARKING

A. All vehicles within the Project must have current registration and insurance and be in compliance

with all applicable law. Upon request, Residents must provide Manager with a copy of a current

vehicle registration and insurance card for each vehicle parked at the Project. Vehicles not permitted

in the Project include campers, recreational vehicles (“RVs”), motor homes, buses, heavy trucks

(weighing more than two (2) tons), tractors, boats and trailers. Unattached trailers are prohibited at

all times, unless in the process of being loaded or unloaded. Notwithstanding the foregoing, the

parking of a motor vehicle by a Resident is permitted if the vehicle is required to be available at

designated periods at the Home as a condition of the Resident’s employment and all of the following

criteria are met: (a) the vehicle has a gross vehicle weight rating of ten thousand pounds or less; (b)

  the Resident is a bona de member of avolunteer re department or is employedby a primary

  providerofemergencyreghting,lawenforcement,ambulance,oremergencymedicalservices;(c)

  thevehiclebearsanofcialemblemorothervisibledesignationoftheemergencyserviceprovider;

and (d) parking of the vehicle can be accomplished without obstructing emergency access or

interfering with the reasonable needs of other Residents to use streets, driveways, and/or guest

parking areas within the Project.

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B. One (1) motorcycle may be parked on Resident’s Home Parcel if used by Resident as a primary mode

of transportation. The permission to park a motorcycle does not relieve Resident of the obligation to

abide by all other Rules and Regulations relating to motorcycles.

C. Parking is permitted only within the two (2) tandem parking spaces in the driveway of the Home. and

  notonthelandscapedorotherareasoftheHomeParcel.Parkinginrelanesisprohibited.Unles

otherwise posted or permitted by these Rules and Regulations, or other separate agreement with

Manager, no parking is permitted on the streets of the Project, except for the purpose of loading and

unloading during the hours from 7:00 a.m. to 9:00 p.m. Vehicles belonging to vendors, delivery

persons, health care personnel or Project employees may be parked for longer periods of time on the

street with permission of Manager.

D. Manager may permit temporary parking in the streets of the Project for the short-term parking of

  Guests. However, to regulatetrafc and manage noise, Manager reserves the right to prohibit or

restrict such Guest parking.

E. Any vehicle parked in violation of these Rules and Regulations or in violation of signs posted

throughout the Project may be towed from the Project at the expense of the vehicle’s owner.

F. Sleeping in vehicles is prohibited.

G. No automobile may be stored on the Home Parcel. Improper storage shall include, but not be limited

to, the parking of an inoperative vehicle for a period exceeding two (2) weeks, the parking of an

operative vehicle that is not used for a period exceeding four (4) weeks, or the parking of any vehicle

for the purpose of selling vehicles as part of a commercial activity. However, Residents may leave

their vehicles in their parking spaces when on vacation.

14. MOTOR VEHICLES AND BICYCLES

 A. No vehicle leaking oil or any other substances or uids shall be allowed in the Project.Any car

dripping oil or gasoline must be repaired immediately.

B. No maintenance may be performed on any vehicle on the Home Parcel without Manager’s written

consent.

C. Washing vehicles on any Home Parcel or on the streets within the Project is prohibited.

D. For the safety of the Residents and their Guests, no vehicle may be driven in an unsafe manner. All

  trafcsignsmustbeobeyed.ThespeedlimitthroughouttheProjectis5mph.

E. Pedestrians and bicycles shall be given the right of way.

F. No vehicle may be operated in the Project by any person who is not properly licensed.

G. Excessively noisy vehicles are not permitted in the Project.

H. Motorcycles, motor scooters, mini-bikes, mopeds, golf carts, dune buggies or any two and three-

wheeled motorized vehicles entering or leaving the Project must be driven by the most direct route

between the Project’s entrance and Resident’s Home and may not otherwise be driven on any other

  streetinthe Project.All suchvehicles shall be equippedwith mufers or other necessarynoise-

suppressing devices. All such vehicles shall be licensed, street legal and driven by a licensed

driver only.

 I. Bicyclesmayonlybedrivenontheroadways.Bicyclesmustobeythesametrafcregulationsascars.

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 J. Ifdrivenatnightoratdusk,bicyclesmustbeequippedwithalightonthefrontandareectorin

the rear.

K. Manager may in its discretion prohibit or restrict skateboard riding, roller skating or roller blading

and/or the operation of drones or radio-controlled models or toys within the Project.

L. Any vehicle in violation of these Rules and Regulations or in violation of signs posted throughout the

Project may be towed from the Project at the expense of the vehicle’s owner.

15. CONDUCT

A. Conduct of any nature, by any person, that may be dangerous or that may create a health or safety

problem, or may disturb others, is not permitted at the Project. Such conduct includes, but is not

limited to, any unusual, disturbing or excessive noise, public intoxication, loud quarreling, threatening,

  ghting,illegalconduct,profanity,abusivelanguage,harassmentbywayoftaunting,photographin

or intimidation. The use or display of any weapon, including but not limited to, a bow and arrow, BB

  gun,knife,gunorreworks,isexpresslyforbidden.

 B. Personsundertheinuenceofalcoholoranyothersubstanceshallnotbepermittedinanyareaof

the Project that is generally open to Residents and their Guests. The Project is a “Drug Free Property”.

Residents and their Guests are strictly prohibited from bringing onto, using, manufacturing or

  trafckinganysubstanceand/ordrugclassiedasacontrolledsubstanceintheStateofColorado

without a valid prescription within the Project.

 C. Ampliers, televisions, musical instruments and other devices must be used so as not to disturb

others. Ham or CB radios or other radio transmitters may not be operated in the Project.

D. Residents and their Guests shall not encroach or trespass on any other Resident’s Home Parcel or

upon any area that is not open for general use by Residents and their Guests. All Project property

which is not for the use of Residents and their Guests, including, but not limited to, gas, electric, water

and sewer connections, and other equipment connected with utility services and Manager’s tools and

equipment, shall not be used, tampered with or interfered with in any way by any Resident or Guest.

Notwithstanding the foregoing, the utility service connection to the Home owned by a Resident is for

the Resident of that Home Parcel’s sole use, and said Resident is solely responsible for the maintenance,

repair and operation of the utility service connection described herein.

 E. NoresarepermittedexceptintheHome’srepitorastandardgrill.

F. The violation of any federal, state or local law or ordinance will not be tolerated. No acts or demeanor

shall be permitted that would place the Manager, Developer or the Project in violation of any law or

ordinance.

G. The Home and Home Parcel shall be used only for Private Residential Purposes and, except as herein

provided for a Home-Based Business, no business or commercial activity of any nature shall be

conducted thereon.

16. PETS

Residents are deemed to have fully accepted and assumed, regardless of whether executed by the particular

Resident, the “Pet Rules and Agreement” attached hereto as Exhibit “A” and incorporated herein by this

reference. The Pet Rules and Agreement must be executed by all Residents who own a pet and the Pet Rules

and Agreement shall be adhered to by Residents who own a pet. Manager reserves the right, following notice

and opportunity for a hearing as provided herein, to remove a Resident’s pet if the pet would pose a threat to

PAGE 13

RESIDENT INITIALS RESIDENT INITIALS

the health or safety of Residents of the Project or consistently constitutes a nuisance as determined by

Manager. No more than two (2) dogs or two (2) cats, or three (3) pets overall (e.g. two dogs and one cat, or

two cats and one dog), are allowed per Home.

17. RENTING, SUBLETTING OR ASSIGNMENT

A. No Owner may lease or rent, and no tenant may sublease (i) less than his or her entire Home and

Home Parcel; (ii) for transient or hotel purposes, including, without limitation, through any website

short-term leasing service such as, but not limited to, Airbnb or Home Away; or (iii) for a term of less

than thirty (30) days, unless it is an extension of a lease that was at least six (6) months long.

B. An Owner shall have the right to lease his or her Home for lease periods of thirty (30) days or

longer upon such terms and conditions as the Owner may deem advisable, subject to the following

limitations and requirements (which limitations and requirements shall similarly apply to any

subleases by tenants of any Owner):

(1) Any lease, sub-lease or rental agreement related to a Home must be in compliance with all

laws, ordinances and regulations.

(2) Any lease or rental agreement shall be in writing and shall provide that the lease or rental

agreement is subject to the terms of these Rules and Regulations (copies of which are to be

furnished to the lessee of the Home by the Owner thereof). Both the Owner and the tenant(s)

shall be jointly and severally liable to Developer and Manager for any and all violations

caused by said tenants. Leasing of a Home shall not relieve the Owner of his or her rights,

responsibilities and obligations under the Parcel Ground Lease and these Rules and

   Regulations,including,butnotspecicallylimitedto,thedutytopaynes,andthesameshall

be as fully enforceable as to such Owner as though such Owner were itself occupying

such Home.

(3) The lease or rental agreement shall state that the failure of the lessee or renter to comply

with the terms of the Parcel Ground Lease and these Rules and Regulations shall constitute

a default and such default shall be enforceable by either the Developer or Manager, including

but not limited to, requiring that the Owner evict the lessee from the Home.

(4) Manager shall be furnished with a copy of the lease or rental agreement, upon its request.

18. FIXTURES

All landscaping and structures or other improvements, other than the Home, permanently attached to or

embedded in the ground shall become a part of the Home Parcel upon their installation and shall belong to

Developer under the terms of the Parcel Ground Lease.

19. NO SOLICITATION

Distribution of handbills, door-to-door selling or solicitation are not permitted. All salespeople must make

individual appointments with the Residents concerned or interested.

20. COMPLAINTS

Except in an emergency, please do not telephone or contact Manager after normal business hours. The

 Project’sofcephoneisforbusinessandemergencyuseonly.

A. Except for emergencies, all complaints must be in writing and signed by the person making the

complaint.

B. All community business is conducted during posted business hours.

PAGE 14

RESIDENT INITIALS RESIDENT INITIALS

C. Resident shall not request maintenance personnel to perform jobs for Resident, nor shall Resident

give instructions to maintenance personnel.

21. THE “GRIEVANCE AND APPEAL POLICIES AND PROCEDURES”

Attached hereto as Exhibit “C” are binding upon all Residents and set forth the procedures by which such

parties may have disputes resolved regarding violations of the provisions of the Parcel Ground Lease or these

Rules and Regulations.

22. REVISIONS OF RULES; SEVERABILITY; MISCELLANEOUS

A. Manager reserves the right, upon thirty (30) days’ notice to Owners, to make reasonable additions,

deletions, amendments and revisions to these Rules and Regulations from time to time.

B. If any provision of these Rules and Regulations or any document referred to in these Rules and

Regulations is declared to be invalid, illegal or unenforceable, such declaration shall not affect the

enforceability of any other provision of these Rules and Regulations or any document referred to in

  theseRulesandRegulations.Rather,theinvalid,illegalorunenforceableprovisionshallbemodied

to the extent necessary to be declared valid, legal and enforceable and, to the fullest extent possible,

  reectiveoftheintentionoftheparties.

C. Situations and matters within the Project not addressed by these Rules and Regulations or by the

Parcel Ground Lease may nonetheless be resolved by the Developer or Manager by application of its

reasonable judgment. Developer or Manager may deviate from any procedures or standards set forth

in these Rules and Regulations if in its sole discretion such deviation is reasonable under the

circumstances.

D. Limitation of Liability. NOTWITHSTANDING THE DUTY OF DEVELOPER OR MANAGER TO MAINTAIN

AND REPAIR PORTIONS OF THE PROJECT, NEITHER DEVELOPER OR MANAGER SHALL BE LIABLE

TO OWNERS, RESIDENTS OR GUESTS FOR INJURY OR DAMAGE, OTHER THAN FOR THE COST OF

MAINTENANCE AND REPAIR, CAUSED BY ANY LATENT CONDITION OF THOSE PORTIONS OF THE

PROJECT TO BE MAINTAINED AND REPAIRED BY DEVELOPER OR MANAGER, OR CAUSED BY THE

ELEMENTS OR OTHER OWNERS OR PERSONS. Further, neither Developer or Manager shall be liable

for injury or damage to person or property resulting from any utility, rain, snow or ice which may

  leakorowfromotherpropertiesorfromanyportionoftheProjectorfromanypipe,drain,conduit,

appliance or equipment which Developer or Manager is responsible to maintain hereunder, except

  forinjuriesordamagesarisingafteranOwnerorResidenthasputManageronnoticeofaspecic

  leak or ow from anyportion of the Project for which Developer or Manager is responsible and

  DeveloperorManagerhasfailedtoexerciseduecaretocorrecttheleakorowwithinareasonable

time thereafter. Developer and Manager shall not be liable to any Owner, Resident or Guest for loss or

damage, by theft or otherwise, of any property which may be stored in or upon any portion of the Project.

Developer and Manager shall not be liable to any Owner, Resident or Guest for any damage or injury

caused in whole or in part by Developer’s or Manager’s failure to discharge its responsibilities under

these Rules and Regulations where such damage or injury is not a foreseeable, natural result of its

failure to discharge its responsibilities. No diminution or abatement of rent under a Parcel Ground

Lease shall be claimed or allowed by reason of any alleged failure of Developer or Manager to take

some action or perform some function required to be taken or performed by Developer or Manager

under these Rules and Regulations, or for inconvenience or discomfort arising from the making of

repairs or improvements which are the responsibility of Developer or Manager, or from any action

taken by Developer or Manager to comply with any law, ordinance, or with any order or directive of

any municipal or other governmental authority.

E. The headings and titles of the paragraphs within these Rules and Regulations are included for

purposes of convenience only and shall not affect the construction or interpretation of any of the

provisions of said Rules and Regulations.

PAGE 15

RESIDENT INITIALS RESIDENT INITIALS

READ AND ACCEPTED.

RESIDENT(S) OF Home Parcel Number

Date:

Signature

Printed Name

Date:

Signature

Printed Name

Date:

Signature

Printed Name

EXHIBIT “A”

PET RULES AND AGREEMENT

THESE PET RULES AND AGREEMENT between River Run Colorado (the “Project”) and the Residents (these

“Pet Rules and Agreement”) set forth the terms and conditions under which Resident may be granted

permission to keep a house pet (as described in Section 16 of the Project’s Rules and Regulations) within the

Project. Accordingly, the following terms and conditions shall apply:

A. Terms and Conditions of Acceptance and Maintenance of Pets:

1. Only two (2) dogs or two (2) cats, or three (3) pets overall (e.g., two dogs and one cat, or two

cats and one dog) per Home will be allowed.

2. The types of pets permitted are limited to either a domestic dog or a domestic cat.

3. The Manager reserves the right, in its sole and absolute discretion, to deny a Resident a pet, or

to remove a pet, if such pet reasonably appears to present a threat to the health and safety

or general welfare of the Project or its Residents, or if the pet reasonably does not appear to

comply with these Pet Rules and Agreement.

4. Licenses and Vaccinations: Each pet must be licensed and up to date on all vaccinations in

accordance with local laws.

5. Restriction on Use of Common Areas: Dogs must be kept on a leash at all times, except while

under supervision inside the dog park. Dogs must not be left unattended when outside the

Home and shall not be allowed to run at large within the Project.

a) Any pet running loose in the Project will be impounded at its owner’s expense. Pets

may only be walked on roadways within the Project.

b) Any excrement left by a pet must be picked up immediately and disposed of by the

owner of the pet within the owner’s Home or in owner’s outside trash bins.

6. Pets will not be allowed to cause any unreasonable disturbance, annoyance or harm (including,

without limitation, excessive barking, growling, biting, lunging or any other unusual noises or

damage to property, such as scratching, disturbing or depositing excrement, etc.) to persons

or property in the Project. No exterior pet housing is permitted in the Project. This includes,

   but is not limited to,“dog houses” and any type of fence or other conning barricade or

   structuredesignedorerectedforthepurposeofconningapetoutdoorsontheHomeParcel,

to be determined in the Manager’s sole discretion. Tying of pets outside the Home and leaving

pets unattended outside the Home are prohibited.

  7. WiththeexceptionofserviceanimalsasdenedundertheAmericansWithDisabilitiesAct,

Guests are not permitted to bring their pets into the Project unless prior approval is obtained

from Manager. These Pet Rules and Agreement apply to all Guests’ pets.

8. If the Resident’s pet does not comply fully with these Pet Rules and Agreement, Manager may,

in its sole discretion, require that the pet be permanently removed from the Project.

EXHIBIT A-1

Resident hereby agrees that he or she has read and understood these Pet Rules and Agreement and found them to be

reasonable. Resident further agrees to take all necessary actions to see that they and their pet complies with these

Pet Rules and Agreement and agrees that if they or their pet does not comply with these Pet Rules and Agreement,

then it will be reasonable for the Manager to require that the pet be removed from the Project.

Date:

Signature

Printed Name

EXHIBIT A-2

EXHIBIT”B”

REPAIR OR REPLACEMENT, OR INSTALLATION OF

NEW ACCESSORY STRUCTURE OR LANDSCAPING

A. Standards for and Installation of Accessory Structures, Equipment, Concrete or Other Non- permeable

Materials and Landscaping. Residents must obtain Manager’s prior written approval, and the approval

of any government entity and/or utility company, as applicable, prior to installation of any accessory

  structure,outdoorequipmentorotherexteriorimprovementtotheHomeParcel.Residentmustrst

apply in writing to Manager with a drawing and description of the intended work and improvement or

alteration, including the kind, shape, height, color, materials, and location of the same. Manager will

then approve or disapprove the proposal, with or without conditions. If a permit is required, then the

approval is a tentative approval until required permit conditions are presented to the Manager for

  nalreviewandapproval.TheResidentshallbesolelyresponsibleforsecuringandpayingforany

building permits, inspections and other costs required by law.

B. Written approval of Manager must also be obtained for any alteration, change, maintenance, repair,

or replacement of the exterior of the Home or the Home Site, including, without limitation, any

exterior repainting and landscaping changes. Without limiting the foregoing, the following are the

  applicable conditions for approval of various specic structures, equipment, and landscaping

(including both new improvements and alterations, changes, repairs, maintenance, and replacements):

(1) Exterior Painting. Plans for repainting an existing Home must be submitted to Manager for

approval. Any proposed color that is not in harmony with community standards will not

be approved.

(2) Exterior Equipment and Appliances. The installation of any exterior equipment or appliance

such as, but not limited to, air conditioning condensers or units, swamp coolers or generators,

must be approved by Manager prior to installation. Manager may require the removal of any

such equipment or appliance that, in Manager’s reasonable discretion, adversely affects

the utility systems of the Project or materially impacts the quiet enjoyment of neighboring

properties. As part of the application for approval of the installation, the Resident must

   provideintheapplicationthemanufacturer’sspecications,including,withoutlimitation,the

electrical usage (in AMPS) and the noise factors.

(3) Water Softeners. Any water softener that discharges into the Project’s sewer system is

prohibited.

(4) Accessory Equipment and Structures. The installation of all accessory equipment and structures

shall be completed within ninety (90) days after written approval has been obtained from

Manager provided, however, that Manager may specify another timeframe, in writing, during

which such installation shall be completed.

(a) Building permits, licenses and other similar permission from government or quasi-

governmental bodies or agencies must be obtained, if required, before any installation

or construction of certain accessory equipment and structures. All such equipment

and structures must comply with all federal, state and local laws and ordinances.

Before work may commence, all building permits required by any state or local

authority must be submitted to Manager for review and approval.

EXHIBIT B-1

(b) Prior to commencing a new installation of, or a change in, accessory equipment and

structures, or a change in any improvement that is to be connected to the gas, electric,

water or other utility service, Resident shall submit for Manager’s approval a written

plot plan describing in detail the accessory equipment and structures that Resident

proposes to install or change.

approval by Manager shall be removed by Resident within ten (10) days of receipt of

written notice by Manager requesting such removal.

C. Landscaping. Developer is responsible for the maintenance of the original landscaping upon the

Home Parcel. Resident may apply to Manager for an alteration, change or replacement of landscaping.

(1) Drainage. The Resident will be responsible for the drainage of his or her Home Parcel and

will ensure that any improvements, alterations or changes made to the Home Parcel, including,

without limitation, landscaping and structures, do not cause water to collect on the Home

Parcel. Water from a Home Parcel may drain onto an adjoining street, but must not be allowed

   toowoverneighboringparcelsorpropertiesunlessitcanbeshownthatsuchneighbor-

to-neighbor drainage is the result of a natural and established drainage pattern. No Home

Parcel may be regraded without written approval of Manager.

(2) Trees & Shrubs. Other than the trees and plantings that come with the Home Parcel, no trees

or plantings are permitted on a Resident’s Home Parcel without prior written approval of

Manager. Prior to removing or planting any trees or shrubs, the proposed landscape plan must

be submitted for approval, including any trees or shrubs to be removed and/or any trees or

shrubs to be planted, with the type of plant, the size to be planted and the size at maturity.

No tree or shrub should be planted that has a root system that will damage, including, without

limitation, driveways, foundations or roads.

D. Concrete. The use of concrete or other permanent impervious material will be limited in its use

to driveways.

EXHIBIT B-2

EXHIBIT “C”

GRIEVANCE AND APPEAL POLICIES AND PROCEDURES

Enforcement. Manager and/or Developer shall have the power and duty to hear and make decisions regarding

violationsoftheseRulesandRegulations.NeitherManagernorDevelopershallimposeaneorinfringeuponany

property rights of an Owner or Resident (i.e., removal of a pet, demanding removal of a rental tenant, suspension of

a Resident’s right to use the Project Common Areas) for violations of these Rules and Regulations unless and until

the procedures below are followed. Manager or Developer may determine enforcement action on a case by case

basis, and take other actions as it may deem necessary and appropriate to assure compliance with these Rules and

Regulations, as the same may be amended from time to time, and to create a safe and harmonious living environment.

Notice of Violation. A written notice of violation, together with a demand to cease and desist from the alleged

violation, if applicable (the “Demand for Abatement”) shall be personally served upon the alleged violator (or Owner

or Resident, if violator was a Guest) or posted on their Home specifying:

(i) the alleged violation;

(ii) the action required to abate the violation;

(iii) a time period during which the violation may be abated without further sanction, if such

violation is a continuing one. If such violation is not a continuing one, a statement that any

additional similar violation could result in the imposition of a sanction after notice and

opportunity for a hearing; and

(iv) that the violator has a right to a hearing to discuss the alleged violation and possible

imposition of sanctions, provided that the violator provide written notice of its election to

have a hearing within ten (10) days of receipt of the Demand for Abatement. If the alleged

violator fails to request a hearing within ten (10) days of receipt of the Notice of Violation, or

fails to appear at any scheduled hearing, Developer or Manager has the right to make a

decision with respect to the alleged violation based on any available information without the

necessity of holding a formal hearing. If a violation is found to exist, the alleged violator may

   beassessedaneasprovidedbeloworothersanctionmaybeimposed,asapplicable.

Hearing. If a hearing is timely requested by an alleged violator, the Hearing shall be held affording the

alleged violator a reasonable opportunity to be heard. Failure by the alleged violator to attend the Hearing shall be

considered an election by the alleged violator to waiver his or her right to a hearing and the alleged violator shall be

subject to the sanctions set forth in these Rules and Regulations. In no event shall Developer or Manager suspend a

Resident’s right to use the Project Common Areas for infraction of these Rules and Regulations for a period in excess

of60daysaftertheinfractionceases.ThedecisionofManagerorDevelopershallbenal.

Complaints. In the event that Manager receives a written complaint alleging a violation of these Rules

andRegulations,Managershalldeterminewhethertheallegationsinthecomplaintaresufcienttoconstitutea

violation of these Rules and Regulations and if action is warranted. If such determinations are made, Manager or

Developer shall send a Notice of Violation and the procedures above shall apply.

Sanctions; Schedule of Fines. Any violation of these Rules and Regulations will subject the Owner or Resident

toanyappropriatesanctionas providedinthese Rulesand Regulationsandmayalsoimpose a reasonable ne

determined by Manager or Developerfor each nding of a violation based on the type, severity, repetition and

circumstances of each violation based on the following guidelines:

First time or minor violations $50

Repeated minor violations $100

  Repeatedoragrantviolations $300

 ManagerorDevelopermayfromtimetotimeestablishcertainviolationsasminororagrantsothatnes

are imposed consistently.

EXHIBIT C-1

 Intheeventofacontinuingviolation,adailynemaybeleviedifManagerorDeveloperperformsadaily

inspection to verify that the violation is continuing.

Manager or Developer may institute legal action to enforce any right or remedy hereunder and, in such event,

shall receive the reimbursement of all legal fees and costs.

WaiverandModicationofProcedure. Manager or Developer has the option and right to continue to evaluate

each enforcement issue on a case by case basis and may grant a waiver of any provision herein. In addition, Manager

or Develop is authorized to modify the procedures contained herein, as either may determine appropriate under the

circumstances.

EXHIBIT C-2