I. Definitions

The terms in this Declaration and the attached exhibits and other Governing Documents shall generally be given their commonly accepted definitions except as otherwise specified. Capitalized terms shall be defined as set forth below.

Area of Common Responsibility

The Common Area, together with such other areas, if any, for which the Association has or assumes responsibility pursuant to the terms of this Declaration, any Supplemental Declaration, or other applicable covenants, contract, or agreement.

Articles of Incorporation / Articles

The Articles of Incorporation of Monticello Park Homeowners’ Association, Inc. as filed with the Secretary of State of the State of Georgia.

Association

Monticello Park Homeowners’ Association, Inc., a Georgia non-profit corporation, its successors or assigns.

Board of Directors / Board

The body responsible for administration of the Association, selected as provided in the By-Laws and generally serving the same role as the board of directors under Georgia corporate law.

By-Laws

The By-Laws of Monticello Park Homeowners’ Association, Inc. attached as Exhibit “D” hereto, as they may be amended from time to time.

Common Area

All real and personal property, including easements, which the Association owns, leases or otherwise holds possessory or use rights in for the common use and enjoyment of the Owners.

Common Expenses

The actual and estimated expenses incurred, or anticipated to be incurred, by the Association, including any reasonable reserve.

Community

The real property described on Exhibit “A,” together with such additional property as may be subjected to this Declaration in accordance with Article VII.

Community-Wide Standard

The standard of conduct, maintenance, or other activity generally prevailing throughout the Community as initially established by Declarant. After Declarant no longer has the right to appoint and remove the directors and officers of the Association, such standard may be more specifically determined by the Board of Directors.

Declarant

D.R. Horton, Inc., a Delaware corporation, or any successor, successor-in-title, or assign who takes title to any portion of the property described on Exhibits “A” or “B” for the purpose of development and/or sale and who is designated as Declarant in a Recorded instrument executed by the immediately preceding Declarant.

Detached Unit

Any plot of land within the Community, whether or not improvements are constructed thereon, which constitutes a single-family dwelling site, as shown the Recorded Plat for the Community, which dwelling will not be attached by one or more party walls to another dwelling. The ownership of each Detached Unit shall include, and there shall automatically pass with the title to each Detached Unit as an appurtenance thereto, whether or not separately described, membership in the Association and all rights and interest of an Owner in the Common Area, as herein provided.

General Assessment

Assessments levied on all Units subject to assessment under Article VIII to fund Common Expenses for the general benefit of all Units.

Governing Documents

A collective term referring to this Declaration and any applicable Supplemental Declaration, the By-Laws, the Articles, any architectural or design standards as provided for herein, and the Use Restrictions and Rules, each as they may be amended or supplemented from time to time.

Limited Common Area

A portion of the Common Area primarily benefiting one or more, but less than all Units in the Community, as more particularly described in Article II of this Declaration.

Member

A Person subject to membership in the Association pursuant to Section 3.2 of the Declaration.

Mortgage

A mortgage, a deed of trust, a deed to secure debt, or any other form of security instrument affecting title to any Unit.

Mortgagee

A beneficiary or holder of a Mortgage.

Owner

One or more Persons who hold the record title to any Unit, but excluding in all cases any party holding an interest merely as security for the performance of an obligation.

Person

A natural person, a corporation, a partnership, a trustee, limited partnership, limited liability company, joint stock company, joint venture, association, company or other organization recognized as a separate legal entity under Georgia law.

Plat

The Recorded final plat applicable to the Community or phase of the Community.

Record / Recorded / Recording

Recordation or filing of any document in the Office of the Clerk of the Superior Court of the County of Fulton, State of Georgia.

Special Assessment

Assessments levied in accordance with Section 8.5.

Specific Assessment

Assessments levied in accordance with Section 8.6.

Supplemental Declaration

An instrument Recorded pursuant to Article VII which subjects additional property to this Declaration and/or imposes, expressly or by reference, additional restrictions and obligations on the real property described in such instrument.

Townhome Unit Assessment

Assessments levied against all Townhome Units in the Community in accordance with Section 8.7.

Townhome Unit

Any plot of land within the Community, whether or not improvements are constructed thereon, which constitutes or will constitute, after the construction of improvements, a single dwelling site for a townhome which will be attached by one or more party walls to another townhome, as more particularly shown on the Recorded Plat for the Community. Where the dwelling on a Townhome Unit is attached by a party wall to one or more other dwellings, the boundary between Townhome Units shall be a line running along the center of the party wall separating the Townhome Units. The ownership of each Townhome Unit shall include, and there shall automatically pass with the title to each Townhome Unit as an appurtenance thereto, whether or not separately described, membership in the Association and all of the rights and interest of an Owner in the Common Area, as herein provided.

Unit

A portion of the Community, whether improved or unimproved, which is intended for development, use, and occupancy as a residence for either a Detached Unit or a Townhome Unit. The term shall include within its meaning, by way of illustration and not limitation, each numbered lot shown on a Recorded subdivision Plat with respect to any portion of the Community, together with the structures, if any, constructed thereon, as well as vacant land intended for further subdivision, but shall not include the Common Area or property dedicated to the public.

In the case of a portion of the Community intended and suitable for subdivision into lots but as to which no subdivision Plat has been Recorded, such property shall be deemed to contain the maximum number of Units permitted under the city or county zoning ordinance applicable to the property until such time as a subdivision Plat is Recorded with respect to all or a portion of the property. Thereafter, the portion encompassed by such Plat shall contain the number of Units determined as set forth in the preceding paragraph and any portion not Platted shall continue to be treated as set forth in this paragraph.

Use Restrictions and Rules

Those use restrictions and rules affecting the Community, which may be adopted, modified, and repealed as set forth in Article X. The initial Use Restrictions and Rules are set forth on Exhibit “C.”