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Explanation Of Restrictions
The next document delivered to you herewith in this booklet is the restrictions on Cloud 9 Ranch. The
following is a brief explanation of those Restrictions. This explanation should be used only as a guide or
index to the Restrictions and is not intended to replace or be a substitute for the Restrictions. You should
read the Restrictions carefully after reading this explanation.

ARTICLE 1- USE OF THE PROPERTY.

Each owner of the Ranch is entitled to use the property for hiking, camping, horseback riding,
hunting, fishing, swimming, sports and other recreational uses. Each owner will refrain from obstructing
or interfering with the use of the property by other owners.

ARTICLE 2- RULES.

Each owner will abide by the rules of Cloud 9 Ranch Club, Inc.

ARTICLE 3- INTEREST OWNED.

Each owner owns a 1/6000th undivided interest in the entire property including the improvements
thereon.

ARTICLE 4- FEES, TAXES, AND ASSESSMENTS.

The annual maintenance fees payable by the members of Cloud 9 Ranch Club, Inc. The Board of
Directors is authorized to increase annual maintenance fees up to 10%, if the need arises. Increases
greater than 10% may only be authorized by a majority of voting members of the corporation voting at
an annual meeting in person or by proxy. All taxes on the Ranch will be paid by Cloud 9 Ranch Club,
Inc. Special Assessments may be levied by the Board of Directors if necessary for matters involving
health, safety or welfare, otherwise only by a majority of voting members of the corporation voting at an
annual meeting in person or by proxy.

ARTICLE 5- EXHIBIT “C” PROVISIONS FOR COSTS OF MAINTENANCE AND

OPERATION.
The expense of maintaining and operating the Ranch will be paid from the fees of the members of Cloud
9 Ranch Club, Inc.

ARTICLE 6- POWERS OF CLOUD 9 RANCH CLUB, INC.

Cloud 9 Ranch Club, Inc. is a not-for-profit corporation, and each owner automatically becomes a
member thereof upon contracting to purchase an interest in the Ranch. The corporation is responsible for
operating and maintaining the Ranch and paying the taxes thereon .The corporation has enforcement
rights on each owner’s interest in the Ranch for collection of its fees etc.

ARTICLE 7- BREACH

Violation of any of the Restrictions constitutes a nuisance and every remedy allowed by law or equity
against a nuisance is applicable against any person who violates the Restrictions.

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ARTICLE 8- RIGHT OF ENTRY.

Cloud 9 Ranch Club, Inc. has the right to inspect the Ranch; however, it will inspect the same in such a
manner as to interface as little as is reasonably possible with each other’s use of the Ranch.

ARTICLE 9- PARTITION.

Each owner has waived his right to partition the Ranch.

ARTICLE 10- SALE OF ENTIRE PROPERTY.

The Ranch may be sold upon the affirmative vote of three-fourths of the entire voting membership of
Cloud 9 Ranch Club, Inc. The proceeds of any such sale shall be divided among the owners of the Ranch
in proportion to their respective ownership thereof.

ARTICLE 11- PARTIAL SALE &USE BY OTHERS

In the event of a partial sale of Ranch property, each member agrees to exchange his or her individual
interest for a lesser-undivided interest in the remaining property.

ARTICLE 12- WAIVER.

Any delay or omission in enforcing the restrictions shall not be constructed to be a waiver or
acquiescence of the violation thereof.

ARTICLE 13- AMENDMENTS

Generally, the Restrictions may be amended by three-fourths of the owners of the Ranch.

ARTICLE 14- SEVERABILITY.

If any provisions of the Restrictions are unenforceable the remaining provisions thereof continue to be
enforceable.

ARTICLE 15- TERM.

The Restrictions run with the title to the Ranch and all subsequent purchasers thereof will also be bound
thereby.

ARTICLE 16- ACCEPTANCE.

Each owner accepts the Restrictions and agrees to the same.

Cloud 9 Ranch Club, Inc. By President

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RESTRICTIONS

Cloud 9 Ranch Club, Inc., being the not- for- profit organization of the owners of all the hereinafter
described property, commonly referred to as Cloud 9 Ranch, does hereby create, impose and place upon
all of the said property in Ozark County, Missouri, to wit:

All of section Ten, except a strip of land off the North end, being all that part of section Ten that lies
North of the Farm to Market Highway KK; Thirty- Two acres off the South side of the South Half of the
Northwest Quarter of Section Eleven; the South Half of Section Eleven, all of Section Thirteen, all of
Section Fourteen, all of Section Fifteen, and all of Section Sixteen lying West of the County Road; the
North Half of the Northeast Quarter; The Southwest Quarter of the Northeast Quarter; all in Section
Twenty-two;

The Northeast Quarter; The North Half of the Northwest Quarter; The Southeast Quarter of the
Northwest; The Southeast Quarter of the Northwest Quarter; The North Half of the Southeast Quarter;
The Southwest Quarter; of the Southeast Quarter; The East Half of the Southwest Quarter; all in Section
Twenty-four, EXCEPT The Southwest Quarter of the Southwest Quarter; all of Section Twenty-five,
EXCEPT the East Half of the Southeast Quarter and EXCEPT the Northwest Quarter of the Northwest
Quarter; The Northeast Quarter of Section Thirty-five that lies North of U.S Highway 160; the
Northwest Quarter; the Northeast Quarter; All that part of the Northwest Quarter of the Southwest
Quarter that lies North of U.S Highway 160, all of the above land being in Northeast Quarter; all of the
above land being in township Twenty-three North, Range Eleven West of the Fifth Principle Meridian in
Missouri, County of Ozark.

The following reservations, conditions and covenants, any and all of which are hereby termed
“Restrictions” all of said Restrictions are made jointly and severally for the benefit and shall be binding
upon the present title holder to said lands, as well as all other persons, firms, or corporations, who may
from time to time own, hold, lease, rent or purchase said lands, or any part thereof, and their respective
heirs, assigns, and successors, said lands into whosesoever hands they or any part of them shall come;
and same are hereby made and declared void and for any reason unenforceable, the validity and binding
effect of any other of said Restrictions shall not thereby impaired or affected, said Restrictions shall not
be construed that the waiver or failure to enforce any breach of any Restrictions shall be considered as
waiving the necessity for the observance or the right of enforcement by sale of the property as
hereinafter provided, injunction, mandamus or other proceedings at law or in equity against any present
or future party or parties infringing, violating, attempting to infringe or violate, or omitting to abide by
said lands or any part thereof, may recover damages for the breach, infringement or violation of any
such Restrictions.

ARTICLE 1- USE OF PROPERTY

A. The entire property described herein shall be used solely for hiking, camping, horseback riding,
hunting, fishing, swimming, sports and other recreational uses authorized by Cloud 9 Ranch
Club, Inc.

B. No above- ground or underground structure or fixture of any kind or nature and no fences of any
kind shall be created, maintained or permitted upon any portion of property described herein
without the prior consent of the Board of Director. No owner, guest or person whomsoever shall
place, store or keep or permit to be placed, stored, or kept, upon any portion of the property

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described herein, any or any building material or materials of any kind or nature without the prior
permission of the Board of Directors of Cloud 9 Ranch Club, Inc.

C. A non- exclusive and reciprocal right and easement is reserved to the owners of each and every
individual interest in property described herein to use and enjoy each and every portion of
property described herein for the purpose of camping, hiking, horseback riding, hunting, fishing,
swimming, sports and other recreational uses authorized by Cloud 9 Ranch Club, Inc. No owner
of any undivided interest shall hinder or obstruct the use and enjoyment thereof by any other
such owner or his guests for such recreational purposes.

D. No portion of property described herein shall be used in such manner as to obstruct or interfere
with the enjoyment of owners of undivided interested in the real property, or annoy them by
unreasonable noises or otherwise, nor shall any nuisance or immoral or illegal activity be
committed or permitted to occur on the property described herein.

E. The entire property described herein shall be used solely for the purposes, which do not provide
for the exemption of exceptions from the real property taxation laws of the State of Missouri.

F. No Owner- Member may erect or place upon his trailer, tent, auto, truck, motor home, etc., any
sign or post any noise at any location on the Ranch offering their undivided interest and/ or
Membership for sale without the express permission of the Board of Directors. Any member
violating this rule is subject to an automatic thirty-day suspension as provided for under Article
2, Paragraph A.

ARTICLE 2- RULES

A. Cloud 9 Ranch Club, Inc., may adopt such reasonable rules, not inconsistent with this
declaration, as may be necessary or convenient to discharge the duties and responsibilities
imposed upon it. Such regulations may, among other things, control any activities, which might
otherwise detract from the appearance of the property described herein or offend or cause any
inconvenience or danger to persons visiting therein. Such rules including, without limitation, the
cost of correcting any violation thereof; provided however, no suspension for a rules violation
shall be effective for more than 30 days without a hearing before a committee designated by the
Board of Directors of Cloud 9 Ranch Club, Inc.

B. A copy of the existing rules of Cloud 9 Ranch Club, Inc. will be given to each purchaser of an
undivided interest in the property subject to these restrictions together with a copy of these
restrictions at the time of such purchase, and each purchaser shall acknowledge receipt thereof.
These rules may be changed by the Board of Directors of Cloud 9 Ranch Inc. Notice of any such
changes shall be forwarded to all of the voting members of Cloud 9 Ranch Club, Inc. at least 5
days prior to the effective date thereof. Any rule changes made by the Directors shall be subject
to validation, modification or rescission by a majority of voting members of the corporation
voting at an annual meeting in person or by proxy.

ARTICLE 3- INTEREST OWNED

A. Each owner shall own an undivided interest in the entire property herein described. More than
one person or other entity, except as follows and then only subject to the following provisions,
shall own no undivided interest in the property herein described.

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1. Husband and wife may jointly own an undivided interest as Tenants by the Entirety
provided however, the voting membership in Cloud 9 Ranch Club, Inc., shall be issued to
the first name listed, and upon death of that person, the same shall be issued to the
spouse, if living and if that spouse not be living the same be transferred in accordance
with subparagraph 4 hereof.

2. If legal title or an equitable interest is acquired by any corporation, partnership, joint

venture or other entity, then such entity shall be entitled to have a voting membership in
Cloud 9 Ranch Club, Inc., issued to only one individual living person and only that
individual’s spouse and/or children who have the same residence as such individual shall
be entitled to the privileges of associate membership in Cloud 9 Membership in Cloud 9
Ranch Club, Inc.

3. An interest may pass under the estate of a deceased person to more than one person;
provided that only one individual living person shall be entitled to have voting
membership privileges in Cloud 9 ranch Club, Inc. derived from such undivided interest,
and only that individual’s spouse and/ or children who have the same residence of such
individual shall be entitled to the privileges of associate of associate membership in
Cloud 9 Ranch Club, Inc.

B. Any undivided interest conveyed by Cloud 9 Ranches, Inc. shall be conveyed by Warranty Deed
which shall warrant title to such undivided interest to be free and clear of all liens and
encumbrances except these restrictions, rights- of- way of roads, ditches and utilities, if any,
taxes for the current year and reservations of mineral rights by persons other than Cloud 9 Ranch
Club, Inc. which appear in the chain of title to a part of the property subject to these restrictions.

ARTICLE 4- FEES, TAXES AND ASSESMENTS.

A. The Board of Directors is authorized to increase monthly maintenance fees up to 10% annually,
if the need arises, increases greater than 10% may only be authorized by a majority of voting
members of the corporation voting at an annual meeting in person or by proxy. Said monthly fees
shall be paid monthly in advance on the first day of the month except those memberships which
as a condition of that membership have agreed to a different schedule of payment of maintenance
fees; provided however, any voting member may pre- pay said fees if they so desire. In no event
may the fees of any one member be increased without increasing the fees of all members
proportionately.

B. Fees, if any, for the use of the facilities of Cloud 9 Ranch Club, Inc., or the improvements on the
property described herein shall not be deemed to be maintenance fees, and the Board of Directors
of Cloud 9 Ranch Club, Inc, shall determine the same.

C. Cloud 9 Ranch Club, Inc., shall pay all taxes and assessments, if any, which may be levied by
any governmental authority upon the property subject to these restrictions and any improvements
thereon; provided however, in the event there are not sufficient funds in Cloud 9 Ranch Club,
Inc., to pay the same, it shall immediately upon receipt of the statement for such taxes or
assessments assess each member for his proportionate share of such taxes and assessments if is
unable to pay. Such assessment shall be due and payable 30 days after notice of such assessment

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is forwarded to each voting member at his address as the same appears in the records of Cloud 9
Ranch Club, Inc.

D. The Board of Directors if necessary for the operation of the Ranch may levy special assessments,
above and beyond the annual maintenance fees aforesaid, against all members.

ARTICLE 5- PROVISIONS FOR COSTS MAINTENANCE AND OPERATIONS

A. The expense of maintaining and operating the Ranch will be paid from the fees of the members
of Cloud 9 Ranch Club, Inc.

ARTICLE 6- POWERS OF CLOUD 9 RANCH CLUB, INC.

A. Each purchaser automatically becomes a member of Cloud 9 Ranch Club, Inc., a Missouri not-
for- profit corporation, upon receipt of title to an undivided interest in and to the real property
herein described, or upon execution of a Contract for Deed to purchase an undivided interest in
and to the real property described herein. Each member shall be obligated to fully and faithfully
comply with the Articles of Incorporation and By-laws of Cloud 9 Ranch Club, Inc., and the
rules and regulations from time to time prescribed hereunder by its officers, directors, or
members. Each member agrees to promptly pay all fees, taxes or assessments levied by Cloud 9
ranch Club, Inc., is terminated to for failure to pay his fees, taxes, or assessments to said Cloud 9
Ranch Club, Inc., or in other reason, the President of Cloud 9 Ranch Club, Inc., or in case of his
absence, death, refusal to act, or disability in any wise, the then acting sheriff of Ozark County,
Missouri, may proceed to sell the undivided interest of said terminated member in the land herein
described, or any part thereof, at public venue, to the highest bidder, at the Court House door in
Ozark County, Missouri, for cash, first giving twenty days’ public notice of the time, terms and
place of sale, and of the property to be sold by advertisement in some newspaper printed and
published in the Ozark County, Missouri, and upon such sale shall execute and deliver a deed in
fee simple of the property sold to the purchaser thereof ( said purchaser to hold said property
subject to these restrictions). and receive the proceeds of said sale; any statement of facts or
recital by said President or sheriff shall, out of the proceeds of said sale, pay, first, the cost and
expenses of executing this agreement and next he shall apply the proceeds remaining over to the
payment of the fees, taxes or assessments owed Cloud 9 Ranch Club, Inc., said sum to include
interest thereon at the rate of eight ( 8%) percent per annum from due date to date of payment,
and the remainder, if any shall be paid to such terminated member. Each member hereby
specifically waives all of his common law rights, if any in law or equity to redeem the property,
if sold, in accordance with the provisions aforesaid and agrees that he may redeem the property
only if he follows the statutory procedure set forth in chapter 443 of the Revised Statues of
Missouri for the redemption of property sold by a Trustee under authority of a Deed of Trust.

B. Cloud 9 Ranch Club Inc., its successors or assigns, shall have the sole and exclusive right and
duty to manage, operate, control, replace or restore all of the improvements, equipment, trees,
shrubbery, plants, grass on the property herein described. The exclusive right and duty aforesaid
shall continue until revoked by the agreement of the owners of an aggregate undivided three-
fourths of the entire property herein described. No such revocation shall be effective unless the

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same is in writing, signed by all of the owners agreeing thereto and recorded in the office of the
Recorder of Deeds where this instrument is recorded.

C. Cloud 9 Ranch Club Inc., in its sole and absolute discretion, and as more fully set forth in its
articles of incorporation and bylaws shall have authority and power to:

1. Levy and collect fees, taxes and assessments from its members

2. May establish a reverse fund for such purposes as the Board of Directors may approve.

3. Shall care for open space areas in the property described herein and remove and destroy
any noxious weeds, underbrush, rodents and any unsightly or obnoxious thing there from,
and all other things and perform any labor necessary or desirable to keep and maintain
said open spaces and the land contiguous and adjacent thereto neat and in good order to
subject to availability of funds.

4. Shall pay the taxes and assessments, if any, which may be levied by any governmental
authority upon the property described herein and improvements thereon; provided
however, in the event there are not sufficient funds in the corporation shall immediately
assess each member for his proportionate share of such taxes and assessments.

5. Shall enforce changes, restrictions, rules, conditions and covenants existing upon and
created for the benefit of the property herein described or the owners thereof, and shall
pay all expenses incidental thereto; shall enforce the decisions and rulings of Cloud 9
Ranch Club, Inc., and pay all of the expenses in connection therewith; and shall
reimburse any declaring under any declaration of conditions, covenants, restrictions,
assessments or changes affecting the property described herein, or any part thereof, for al
costs and expenses incurred or paid by it in connection with the enforcement, of any of
the conditions, covenants, restrictions, charges assessments or terms set forth in any such
declaration;

6. Shall provide for the maintenance of the Clubhouse, swimming pools, recreational
vehicle park, stables and riding facilities, equipment and other community features
constructed on the land set aside for the recreational use of the members of Cloud 9
Ranch Club, Inc., and improve, light, provide for, beautify, and maintain private roads
and driveways, parks and other planted areas and trees and shrubs in and bordering upon
the property described herein, all of which shall be maintained for the general use of its
members.

7. Shall provide for the public liability insurance with cross- liability endorsement to cover
negligent injury by the owner to another;

8. May expend the monies collected by Cloud 9 Ranch Club, Inc., from the fees assessments
or charges and other sums received by it for the payment and discharge of all proper
costs, expenses and obligations incurred by it in carrying out any or all of the purposes
for which it is formed;

9. Subject to the approval of the Board of Directors may borrow money, may mortgage,
pledge, deed in trust, or hypothecate any or all of its real or personal property as security

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for money borrowed or debts incurred; and do any and all things that a corporation
organized under the laws of the State of Missouri as a not- for- profit corporation may
lawfully do, and generally may do and perform any and all other acts which may be either
necessary for, or proper or incidental to, the exercise of any of the foregoing powers, and
such powers as are granted by the provisions of the laws of the State of Missouri to a not-
for – profit corporation;

10. The Board of Directors may acquire by gift, purchase or otherwise may own, hold, enjoy,
lease, operate, maintain, and may convey, sell, lease, transfer, mortgage, or otherwise
encumber, dedicate for public use, or otherwise dispose of real or personal property in
connection with its business.

11. May without limitation of its general powers, contract with others for the maintenance,
operation, construction or reconstruction of property described herein or any
improvements thereon.

12. Shall establish rules and regulations covering the use of all the property described herein,
and the facilities under its control or management;

13. May do any and all lawful things which may be advisable, proper, authorized or
permitted to be done by Cloud 9 Ranch Club, Inc., under and by virtue of any condition,
covenant, rule restriction, reservation, charge or assessment affecting the property
described herein, or any portion thereof, and to do and perform any and all acts which
may be either necessary for or incidental to the exercise of any of the foregoing powers,

14. Shall collect fees and assessments from members, and pay mortgage or deed or trust
payments, if any, property taxes, and procure and provide fire and other hazard insurance and
pay premiums thereon for improvements located within the property described herein, and
procure and provide liability insurance coverage;

15. Shall be entitled to receive all notice, claims and demands relative to taxes and
assessments affecting the property described herein, and by accepting title to an
undivided interest in property described herein, the purchaser thereof thereby waives his
right to receive such notices, and designates Cloud 9 Ranch Club, Inc., as his exclusive
agent for receipt of such notices claims or demands’

16. Shall operate and maintain the water supply systems for the property described herein.

ARTICLE 7- BREACH
A. The result of every act or omission whereby any of the covenants contained herein are violated in
whole or in part is hereby declared to be and constitute a nuisance, and every remedy allowed by
law or equity against a nuisance, either public or private, shall be applicable against such result
and may be exercised by any owner of an undivided interest in the property described herein, by
Cloud 9 Ranch Club, Inc., or its successors.

ARTICLE 8- RIGHT OF ENTRY

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A. Cloud 9 Ranch Club Inc., shall have the right to enter upon any portion of the property described
herein, to the extent such entry is necessary or convenient to carry out its duties. Such manner as
to interfere as little as is reasonably possible with the possession and the enjoyment of the owner
of property described herein.

ARTICLE 9- PARTITION

A. There shall be no right of partition in the land herein described. By accepting title to an
undivided interest in the property herein described, the purchaser thereof, for himself and his
successors in interest, waives his rights under rule 96 of the Supreme Court of Missouri and the
corresponding provisions of any future Supreme Court Rule or Missouri Statue.

ARTICLE 10- SALE OF THE ENTIRE PROPERTY

A. In addition to the powers granted in Article 6 hereof, Cloud 9 Ranch Club Inc., is hereby granted
the right to sell any portion or all of the entire property described herein upon the affirmative
vote for such sale of not less than three fourths of the votes of the entire voting membership of
Cloud 9 Ranch Club Inc., subject to the following:

1. The right and power to sell and convey all or any portion of the property described herein
may be exercised at any time, from and after the date hereof, upon the affirmative vote of
75% of the voting members of Cloud 9 Ranch Club Inc.

2. If at least three- fourths ( 75%) of the members entitled to vote on this issue shall have
voted affirmatively or shall have given their written consent to sell all or any portion of
the property described herein, and the other provisions hereof have been met, then the
directors of Cloud 9 Ranch Club, Inc., shall direct its officers to effect such sale, and to
do all acts and execute and deliver all documents necessary, appropriate and convenient
in order to do so.

3. If, by vote of the members entitled to vote on this issue in the manner and subject to the
provisions hereof, Cloud 9 Ranch Club., shall have determined to sell all or any portion
of the property described herein, then any two officers of Cloud 9 Ranch Club Inc., shall
execute and file for record in the Official Records of Ozark county, indexed as a power of
attorney, a certificate stating that the terms hereof have been complied with, and that they
are hereby authorized and directed to execute and deliver any and all deeds, contracts,
documents and instruments, necessary, appropriate or convenient to effect the sale of all
or a portion of property described herein. Recordation of such certificate shall constitute
conclusive evidence that any two of the officers of the Cloud 9 Ranch Club Inc., are
authorized, directed and empowered to execute and deliver any deed, contract, document
or instrument necessary, appropriate or convenient to effect the transfer of title to all or a
portion of the property described herein.

4. By accepting title to an undivided interest in the property described herein, the purchaser
thereof, for themselves and their successors in interest who shall then hold office at the
time of execution of the certificate referred to in subparagraph (4) above, their true and
lawful agent and attorney, for and in their name, place and stead, and for their use and
benefit, to effect any sale of all or any portion of the property described herein, and to do
all acts and execute and deliver any certificate, deed, contract, document or instrument

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necessary, appropriate or convenient to effect the transfer of title to all or any portion
described herein, or otherwise to carry out the purposes and intent hereof.

5. The proceeds of a total sale hereunder shall be divided among the respective owners
thereof in proportion to their respective ownership in the property sold. Proceeds of a
partial will be put into the accounts of the corporation to be used as deemed appropriate
by the Board of Directors.

ARTICLE 11- PARTIAL SALE & USE BY OTHERS

A. In the event of a partial sale, each owner agrees to convey to Cloud 9 Ranch Club, Inc., by
warranty Deed, their undivided interest in the property herein described in exchange for a lesser
undivided interest in the property herein described upon receipt of a Warranty Deed conveying to
them such lesser undivided interest, free and clear of all liens and encumbrances except these
restrictions, rights- of –way of roads, ditches and utilities, reservation of mineral rights, if any, by
persons other than Cloud 9 Ranch Club Inc., and taxes for the current year, said current taxes for
such other property to be prorated between the parties as of the date of conveyance, and a title
insurance binder issued by a reputable insurance company agrees to insure title to all of said
insurance company agrees to insure title to all of the property described in said Warranty Deed
subject only to the encumbrances aforesaid. Each owner further agrees that his failure to execute
and deliver a Warranty Deed to Cloud 9 Ranch Club Inc., which conveys his undivided interest
herein within ten days of the receipt of the Warranty Deed and title insurance binder aforesaid
shall result in a termination of his membership in Cloud 9 Ranch Club Inc., and shall give the
President of Cloud 9 Ranch Club Inc., or in case of absence, death, refusal to act or disability in
any wise, the Sheriff of Ozark County, Missouri, the power of sale granted in Article 6 hereof.

B. Each member agrees that guests other than the guests of a member or associate member may use
the premises subject to the provisions of Article 1 and 2 hereof so long as they have received
permission from the Board of Directors shall give such permission only when such guests other
than the guest of a member or associate member are members of an organization similar to Cloud
9 Ranch Club Inc., and such similar organization grants the members of Cloud 9 Ranch Club
Inc., permission to use its or their premises.

C. By accepting title to an undivided interest in the property herein described, the purchaser thereof,
for himself and his successors in interest, agrees that he will not convey, lease or transfer a
lesser-undivided interest in the property herein described than was conveyed to him.

ARTICLE 12-WAIVER

A. The various restrictive measures and provisions of these restrictions are declared to constitute
mutual equitable covenants and servitudes for the protection and benefit of the property
described herein and the owners thereof, and failure by Cloud 9 Ranch Club Inc., or any other
person or persons entitled to do so to enforce any measure or provision, upon violation thereof,
shall not stop or prevent enforcement thereafter or be deemed a waiver of the right to do so.

B. A waiver of a breach of any of the foregoing conditions or restrictions, including the waiver of
any rights under Article 4 hereof, shall not be constructed as a waiver of any succeeding breach
or violation and no such waiver shall result in or impose any liability on Cloud 9 Ranch Club
Inc., or its successors in interest, or Cloud 9 Ranch Club, Inc., or its successors.

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C. No delay or omission on the part of Cloud 9 Ranch Club, Inc., or its successors, or on the part of
the owner or owners of any undivided interest in exercising any right. Power or remedy herein
contained, shall be considered as a waiver thereof, or acquiescence therein.

ARTICLE 13- AMENDMENTS

A. Subject to compliance with the Real Estate Law of the State of Missouri, these restrictions and
covenants may be amended at any time and from time to time upon the vote of the owners of
three fourths ( 75%) or more of the undivided interests in the property described herein who vote
at the meeting of the membership, in person or by proxy. The Secretary of the corporation shall
certify the adoption of any amendment, which instrument shall become effective upon the
recordation thereof in the Office of the Ozark County Recorder.

ARTICLE 14- SEVERABILITY

A. Should any covenant or restriction contained herein be void or be or become unenforceable in

law or equity, the remaining portions hereof shall remain in full force and effect.

ARTICLE 15- TERM

A. These covenants, restrictions and agreements shall run with the land and shall continue in full
force and effect until revoked as hereinbefore provided.

ARTICLE 16- ACCEPTANCE

A. Each grantee of a conveyance or purchaser under a contract or agreement of sale, by accepting a

deed or a contract of sale or agreement of purchase, accepts the same subject to all of the covenants
restrictions, easements, and agreements set forth in this Declaration, and agrees to be bound by the same.

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