PROTECTIVE COVENANTS for PARKWAY VILLAGES
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ARTICLE  I

DEFINITIONS

The following terms, when used in these Protective Covenants  shall have the following meanings:

1.1 - Architectural Control Committee shall mean the committee established in accordance with Article III below, for the purpose of monitoring and establishing standards and/or guidance for the development of the Property in accordance with these Protective Covenants.

1.2 - Association shall mean The Parkway Association, Inc., a non-profit corporation to be formed by Developer (as hereinafter defined) and its successors, legal representatives or assigns.

1.3 - Board of Trustees shall mean the Board of Trustees of the Association, as more fully described in Section 7.3.

1.4 - Developer shall mean Parkway Plaza Two/USA Joint Venture, a Texas. joint venture, and its successors, legal representatives or assigns.

1.5 - Development Guidelines shall mean those guidelines, narrative and/or graphics, issued and amended by the Architectural Control Committee and/or Developer from time to time, which describe the development objectives of Developer as contemplated by the Protective Covenants. Owner should obtain the Development Guidelines from the Architectural Control Committee prior to commencing any work on the Plans and Specifications, hereinafter defined in Section 3.3.

1.6 - Improvements shall mean all Improvements constructed upon any Parcel, including without limitation, all buildings, parking garages, open parking areas, driveways, access roads, sidewalks, walkways, mechanical equipment, fountains, swimming pools, vaults, paved plazas, recreational courts, and any other structure or fixture associated with development of any Parcel.

1.7 - Landscaped Area shall mean any area which is required by the Landscape Plan, the Architectural Control Committee, and/or the Plans and Specifications (as defined in Section 3.3) to be landscaped with acceptable plant and/or other landscape materials and maintained and irrigated by an

automatic sprinkler system with the intent of preserving all completed landscaping in its original design as described in the Landscape Plan and/or Plans and Specifications.

1.8 - Landscape Plan shall mean the master plan for landscaping as established by Developer and/or the Architectural Control Committee and thereafter modified, from time to time by the Architectural Control Committee.

1.9 - Owner shall mean the legal title holder of record, whether one or more persons or entities, of any Parcel, excluding Developer, except if Developer has ground leased as Parcel, or constructed or placed Improvements on a Parcel not for the benefit of the Property, then as to such Parcel Developer shall be deemed to be an Owner, and further excluding any person having such interest merely as security for the performance of any obligation, but including, without limitation,

(a)    any person or entity holding legal title as trustee;

(b)    the heirs, legal representatives, successors or assigns of .any legal title holder of record;

(c)    all other persons, firms or corporations acquiring or succeeding to the title of any legal title holder of record by sale, grant, will, foreclosure, execution or by any legal process, or by operation of law or in any other legal manner.

1.10 - Parcel shall mean any tract or parcel of land located within the Property, other than a roadway or street dedicated or to be dedicated to a public authority, owned in fee by Developer, or conveyed by Developer or by any Owner by deed or ground lease.

1.11 - Parking Space shall mean a permanently-paved, off-street parking apace for a full-size and compact passenger car in sizes and ratios  as determined by the Architectural Control Committee from to time. In no event shall the size and ratio of Parking Spaces exceed the specifications established from time to time by the City of Houston.

1.12 - Plot shall mean the valid plot(s) or map(s) of the property or any part thereof now or hereafter recorded in the Map Records of Harris County, Texas.

1.13 - Property shall mean that certain 168 x 4295 acre tract or land located in Harris County, Texas. as more particularly described on Exhibit A, attached hereto and made a part hereof and any other land hereafter designated in accordance with Section 7.6 as constituting part of the Property hereunder.

1.14 - Service Areas shall mean all areas on any Parcel used for service deliveries, loading, unloading, trash storage or compaction, or for any other maintenance of or service functions.

1.15 - Set Back Areas shall mean the area described in Section 4.5.

1.16 - Signage Guidelines shall mean the master plan for all-exterior signs on the Property established by Developer and thereafter modified, from time to time, by the Architectural Control Committee.

1.17 - Trustee shall mean a member of the Board of Trustees.

 

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