Laurel Hill

PHASE V DEVELOPMENT

Terms & Conditions Of Acceptance

The Laurel Hill Board of Directors met on Monday, June 12, 2006 to discuss the proposed Phase V section of Laurel Hill. The Board voted to include Phase V in the Homeowners Association with the following conditions:

1. Geona is to plant eleagnus along the perimeter of the property line of lot E19 and the unrestricted Reserved B lot, along the perimeter of unrestricted Reserved B lot which runs along Cainhoy Drive, following Cainhoy Drive closing off the access drive to Lake Edisto Road and along the unrestricted Reserved A lot to the property of Frances Templeton which adjoins unrestricted Reserved A lot. Or Restrict Reserved A and Reserved B lots.

2. Deed Tract A to the Laurel Hill Homeowners Association.

3. Deed Tract B to the Laurel Hill Homeowners Association.

4. Notify Laurel Hill Homeowners Association immediately if any of the 36 lots in Phase V do not perk.

5. Geona has agreed to plant eleagnus along the property line through lot 19.
6. Geona is to contribute ½ up to $3,500.00 to trim the eleagnus which is planted along Riverbank Drive and Lake Edisto Road.

7. If the Unrestricted A and Unrestricted B lots remain such and is ever sold to another party, the contract of sale should read that the eleagnus is not to be cut by the buyer. (This item was not discussed until after Mr. Davis left the meeting.)

Greg Twitty, President
Laurel Hill Homeowners Association

Harris B. Davis
Geona Group, Inc.