WIXLIB

Recording requested by:NORTH AMERICAN TITLEINSURANCE COMPANYWhen recorded return to:LENNAR GREER RANCH VENTURE, LLC,24800 Chrisanta Drive, Suite 200Mission Viejo, CA 92691Attn: Trudie WilsonMASTER DECLARATION OF COVENANTS,CONDITIONS AND RESTRICTIONS,AND RESERVATION OF EASEMENTS FORGREER RANCH(A Residential Planned Development)

TABLE OF CONTENTSPageARTICLE 37.38.DEFINITIONS. 2Annexable Property. 2Articles. 2Assessments. 3Best Management Practices. 3Board. 4Bylaws. 4City. 4Close of Escrow. 4Common Expenses .5Community . 5Community Entry Facilities. 5County. 5Declarant . 6Design Guidelines . 6Design Review Committee . 6DRE. 6Dwelling. 6Eligible Mortgage Holder . 6Environmental Documents. 6FHLMC . 7FNMA . 7Fuel Modification Zones . 7Fuel Modification Zones Maintenance Standards. 7GNMA. 7Improvements. 7Landscape Easement Area. 8Lot . 8Maintenance Areas.8Maintenance Guidelines.9Master Association. 9Master Association Documents. 9Master Association Property. 9Master Association Walls . 10Master Declaration. 10Member . 10Mortgage . 10Mortgagee . 10Mortgagor. 10

39.40.41.42.43.44.45.46.47.48.49.50.51.52.ARTICLE II1.2.3.4.5.6.7.8.9.ARTICLE III1.2.3.4.5.6.7.8.9.10.11.12.Neighborhood Builder. 10Notice and Hearing . 10Notice of Annexation. 11Owner. 11Phase . 11Property. 11Public Agencies. 11Rules and Regulations. 11Special Benefit Area . 11Special Benefit Expenses. 12Special Benefit Improvements. 12Use Agreement. 12Water Quality Management Plans. 12Application of Definitions. 13INTRODUCTION TO AND DISCLOSURES REGARDINGGREER RANCH.13General Plan of Development . 13Development Control. 14Non-Liability. 15Control of Vehicular Access into the Community. 15Fuel Modification Zones; Fire Hazards and Release and Waiver of Claims . 16Post Tension Slabs. 17Plants and Wildlife. 17No Guarantee of Views. 17Rocky Soils . 18PROPERTY RIGHTS REGARDING THEMASTER ASSOCIATION PROPERTY ANDRESERVATIONS OF EASEMENTS . 18Owners' Easements . 18Limitations on Owners' Easement Rights . 18Delegation of Master Association Property Use Rights . 21Waiver of Use .21Easements for Vehicular and Pedestrian Traffic . 21Easements for Unintentional Encroachments . 22Easements for Utilities. 22Easements for Maintenance by the Master Association . 23Easements for Clustered Mailboxes.23Easements for Drainage. 23Easements for Community Cable Television,Alarm System Cabling and Communication Facilities . 24Reservation of Construction Rights. 24

13.14.ARTICLE IV1.2.3.4.5.6.7.8.9.10.ARTICLE V1.2.3.4.5.6.7.8.9.10.11.12.13.14.ARTICLE VI1.2.3.4.5.6.7.8.9.Reservation of Easements Over Master Association Property . 25Transfer of Master Association Property to Master Association. 25THE MASTER ASSOCIATION . 26Membership. 26Classes of Membership. 26Assignment of Neighborhood Builder Voting Rights. 28Special Voting Procedures for Election of Directors. 28Record Dates . 28Vesting of Voting Rights. 28Adjustment of Voting Rights. 28Suspension of Voting Rights. 29Transfer . 29Proxies. 29POWERS AND DUTIES OF THEMASTER ASSOCIATION. 29Management Body. 29Powers . 30Duties. 32Financial Statements for Special Benefit Areas.38Repair of Damage to the Master Association Property. 38Limitations on Contracts . 38Delegation of Duties. 38Right of Entry for Emergency . 38Right of Entry for Repairs. 38Limitations on Board Action. 38Licenses, Easements and Rights of Way. 40New Improvements . 40Master Association Rules and Regulations. 40Resolution of Disputes. 41ASSESSMENTS. 44Creation of the Lien and Personal Obligation of Assessment. 44Purpose of Regular Assessments: Levy and Collection. 44Regular Assessments - Basis. 45Assessment Exemptions . 45Limitations on Increases and Decreases in Regular Assessments. 45Special Assessments . 46Special Benefit Assessments. 47Compliance Assessments. 48Damage Reimbursement Assessment . 48

10.11.12.13.14.15.16.17.Notice of Increase in Assessments. 48Date of Commencement of Regular Assessments: Due Dates. 48Collection of Assessments. 48Certification of Payment . 49Delivery by Owner. 49Reserves. 49Offsets and Waiver Prohibited. 49Exempt Property . 49ARTICLE VII1.2.3.4.5.6.Non-Payment of Assessments: Remedies of the Master Association. 50Notice of Delinquent Assessments . 50Foreclosure Sale. 50Curing; of Default. 51Cumulative Remedies . 51Mortgagee Protection. 51ARTICLE 9.20.21.22.23.24.NON-PAYMENT OF ASSESSMENTS:REMEDIES OF THE MASTER ASSOCIATION. 50USE RESTRICTIONS . 51Private Single Family Dwelling. 51Use of Master Association Property . 51Conduct Affecting the Master Association . 51Owner's Liability for Damage .52Signs.52Maintenance of Animals Within the Community. 52Quiet Enjoyment . 53Improvements. 53Windows . 54Commercial Activity. 54Parking. 54Vehicle Usage in the Master Association Property. 56Unrestricted Parking . 56Compliance With Master Association Documents . 56Solar Heating Systems. 56Antennas . 56Air Conditioners and Other Equipment. 57Hazardous Materials . 57Leasing. 57Drilling. 57Trash . 57Water Softeners. 58Duty to Install Landscaping. 58Restrictions Concerning Environmentally Sensitive Areas. 58

25.26.Compliance with the Environmental Documents . 58Compliance with the Best Management Practices. 58ARTICLE IX DESIGN REVIEW. Exemptions From Design Review. 59Design. Review. 59Design Review Committee . 59Meetings of the Design Review Committee andDelegation of Rights and Responsibilities. 60Design. Guidelines . 60Review of Plans and Specifications. 61Timeframes for Decisions by the Design Review Committee. 62Submittal to City - Right of Design Review Committee to Review . 62Approval of City . 63Conflicts Between the City and Design Review Committee. 63No Waiver of Future Approvals. 63Compensation of Members . 63Variances.63Inspection and Approval of Improvements . 63Non-Liability of Design Review Committee Members. 64Appeal . 64Prohibited Improvements and Activities. 64Governmental Regulations.66Rights of the Disabled. 67ARTICLE X REPAIR AND MAINTENANCE. 671.2.3.4.5.6.7.8.9.Repair and Maintenance by the Master Association.67Repair and Maintenance by Owners . 68Maintenance Standards . 69Preservation of Proper Drainage . 70Bi-annual Inspection by the Master Association. 70Compliance . 71Damage and Destruction Affecting a Lot - Duty to Rebuild. 71Party Walls. 71Reservation of Access Easement for Inspection and Repairs . 72ARTICLE XI DAMAGE OR DESTRUCTION OF IMPROVEMENTSMAINTAINED BY THE MASTER ASSOCIATION. 721.2.Restoration of Damaged Master Association Propertyand/or Maintenance Areas. 72Election Not to Restore Damaged Master Association Propertyand/or Maintenance Areas. 73

3.4.5.6.7.Election Not to Restore Special Benefit Improvements . 74Retention of Excess Insurance Proceeds in General Fund.74Notice to Owners and Mortgagees. 74Damage by Owners . 74Use of Special Assessments. 74ARTICLE XII1.2.3.CONDEMNATION. 74Distribution of Awards . 74Distribution of Awards - Master Association Property. 75Board of Directors as Attorney-in-Fact. 75ARTICLE XIII COVENANT AGAINST PARTITION . 751.Covenant Against Partition. 75ARTICLE XIV INSURANCE. 751.2.3.4.5.6.7.8.9.10.Required Insurance Coverage . 75Optional Insurance Coverage. 77Notice of Cancellation of Insurance. 77Annual Review of Coverage. 77Waiver by Owners. 77Premiums, Proceeds and Settlement. 77Rights and Duties of Owners to Insure. 78Trustee for Policies. 78Mortgage Clause. 78Compliance With Requirements of FHLMC and FNMA. 78ARTICLE XV MORTGAGEE PROTECTION. 791.2.3.4.Mortgage Protection Provisions. 79Violation of Mortgagee Protection Provisions. 84Effect of Amendments. 84Amendments to Conform With Mortgagee Requirements. 84ARTICLE XVI ANNEXATION OF ADDITIONAL PROPERTY . 841.2.3.4.5.6.7.Annexation Pursuant to Approval. 84Annexation Pursuant to General Plan. 85Notice of Annexation. 85Parties to Notice of Annexation. 85Effective Date of Annexation. 86Amendments to a Notice of Annexation. 86Right of De-Annexation. 86

ARTICLE XVII ENFORCEMENT OF BONDED OBLIGATIONS . 861.Enforcement of Bonded Obligations. 86ARTICLE XVIII GENERAL PROVISIONS . 871.2.3.4.5.6.7.8.9.10.11.12.13.14.15.General Rights of Enforcement. 87Enforcement by the City. 89Enforcement by the Public Agencies. 89Owner's Indemnification Obligation After the Close of Escrow. 89Severability. 90Non-Impairment of Mortgagees. 90Term. 90Construction. 90Singular Includes Plural. 90Amendments . 90Notices. 93Attorneys' Fees. 93Conflicts in Master Association Documents. 93Exhibits . 93Additional Provisions . 93EXHIBITSEXHIBIT ALegal Description of the PropertyEXHIBIT BLegal Description of the Annexable PropertyEXHIBIT FMZDepiction of the Fuel Modification Zones in the CommunityEXHIBIT LEADepiction of the Landscape Easement Areas in thisFirst Phase of the CommunityEXHIBIT MADepiction of the Maintenance Areas in this FirstPhase of the CommunityEXHIBIT MAPLegal Description and/or Depiction of the MasterAssociation Property in this First Phase of the CommunityEXHIBIT MAWDepiction of the Master Association Walls in this First Phase of theCommunityEXHIBIT PPDepiction of the Parking Plan (Fire Lanes and OtherNo Parking Areas) in this First Phase of the Community

MASTER DECLARATION OF COVENANTS, CONDITIONSAND RESTRICTIONS, ANDRESERVATION OF EASEMENTS FORGREER RANCHTHIS MASTER DECLARATION OF COVENANTS, CONDITIONS ANDRESTRICTIONS, AND RESERVATION OF EASEMENTS FOR GREER RANCH (hereinafterreferred to as the "Master Declaration") is made this 23rd day of October, 2002, by LENNAR GREERRANCH VENTURE, LLC, a California limited liability company(hereinafter referred to as"Declarant"). (Various capitalized words and phrases used in the following Recitals are defined inArticle I hereinbelow.)RECITALS:A.Lennar Homes of California, Inc., a California corporation (hereinafter referred toas "Lennar") owns that certain real property located in the City of Murrieta, County of Riverside, Stateof California, more particularly described in Exhibit "A" attached hereto (hereinafter referred to as the"Property") (Lennar is a "Neighborhood Builder" as defined herein);B.Declarant owns that certain real property located in the City of Murrieta, Countyof Riverside, State of California, more particularly described on Exhibit "MAP" attached hereto(hereinafter referred to as the "Master Association Property");C.Declarant and/or a Neighborhood Builder also owns fee title to or an easementover, or otherwise may acquire rights, responsibilities and/or obligations that affect any or all of thatcertain real property located in the City of Murrieta, County of Riverside, State of California, moreparticularly described in Exhibit "B" attached hereto (hereinafter referred to as the "AnnexableProperty"');D.Declarant desires that the Property, the Master Association Property and allportions of the Annexable Property which are annexed thereto pursuant to this Master Declaration(hereinafter collectively referred to as the "Community"), be developed as a multi-phased residentialplanned development pursuant to the Davis-Stirling Common Interest Development Act (CaliforniaCivil Code Sections 1350, et seq.) commonly known as "Greer Ranch";E.Declarant deems it desirable to establish a general plan for the development,maintenance, care, improvement, protection, use, occupancy and management of the Community and infurtherance thereof, to impose protective covenants, conditions, restrictions, reservations, easements,equitable servitudes, liens and charges (hereinafter collectively referred to as the "ProtectiveCovenants") upon the Community for the purpose of protecting and preserving the desirability andattractiveness of the Community;1