Completion Requirements for New Construction

C. 3 Completion Requirements for New Construction

1. Purpose

1.1 The purpose of these rules and regulations is to establish a more timely completion schedule for new
home and remodeling construction that enlarges the existing structure’s footprint in accordance
with the Covenants and Restrictions.

2. Schedule

2.1 From the time of the start of tree removal to the time of having the house “dried-in” shall not exceed
nine months. “Dried in” will include roofing, siding, all windows and doors, and trim.

2.2 From the time of the start of tree removal to completion of the exterior shall not exceed one year.
Exterior completion includes, but is not limited to, all painting, driveway paving, landscaping, and
site clean-up.

2.3 From the time of the start of tree removal to the date of the Big Canoe issued Occupancy Permit
shall not exceed eighteen months unless otherwise coordinated.

3. Dwelling assessments

3.1 POA fees will switch from a lot assessment to a dwelling assessment twelve months after the start of
construction or at the issuance of the Big Canoe Occupancy Permit, whichever comes first.

4. Exceptions

4.1 Exceptions may be granted in cases of extreme hardship due to strikes, labor shortages, fires, national
emergency, or natural calamities, houses/lots of extraordinary size/complexity, and/or delays that are
beyond the reasonable control of the builder including non-payment by owner. All exceptions must be
made in writing.

4.2 Extension can be granted for exceptional circumstances.

5. Enforcement

5.1 Builders who do not meet the time line may not begin another project until all of their current projects are
on track for timely completion.

5.2 The Surety Deposit may be claimed and utilized by the POA to make progress towards completing the
exterior of a home. This option may be chosen at the discretion of the POA, in consultation with the
home owner. If claiming the deposit is deemed necessary, it may be considered a triggering event that
would exclude the Builder from starting any new home construction or remodeling projects in Big Canoe
for a period of 5 years, after which time the builder would have to requalify as an Active Builder prior to
soliciting additional work in Big Canoe.

5.3 Exceptions may be granted in accordance with 4.2 above. All exceptions must be made in writing.