ARTICLE I

DEFINITIONS

The following words when used in this Declaration shall have the following meanings:

1.01 ADDITIONAL PROPERTY. "Additional Property" means the additional property, which may be added to the Property and made subject to this Declaration pursuant to Article X hereof.

1.02 ASSOCIATION. "Association" means the PENNINGTON HILL HOMEOWNERS ASSOCIATION, INC. (a non-profit corporation organized under the Georgia Nonprofit Corporation Code), its successors and assigns.

1.03 BOARD. “Board” means the Board of Directors of the Association.

1.04 BUILDER. "Builder" means any person, firm, corporation, partnership or other entity, which has purchased any part or parcel of the Property from Declarant for the purpose of erecting a structure thereon.

 1.05 BY-LAWS. "By-Laws" means the By-Laws of the Association.

1.06 COMMON PROPERTY. "Common Property" means all real property (together with any and all improvements now or hereafter located thereon) including the littoral rights to any lake owned by the Association or in certain instances over which the Association has been granted permanent easements, for the common use and enjoyment of the Owners.

1.07 DECLARANT. "Declarant" means P.W.S., Inc., a Georgia Corporation, its successors and assigns, including, but not limited to, any person, firm, corporation, partnership, association, trust, or other legal entity, or any combination thereof, which acquires all or substantially all of the Development then owned by Declarant (or subsequent successors in interest), together with its rights hereunder, by conveyance or assignment from Declarant, or judicial or non-judicial foreclosure, for the purpose of development and/or construction on the Property.

1.08 LOT. "Lot" means any numbered parcel of land shown upon that certain final subdivision plat prepared by Mark G. Lee, and recorded in Plat Book 156, page 59, Cobb County, Georgia records, or as similarly shown on supplemental surveys of such tract or such additional tracts as may be added to the Property from time to time as provided herein; provided, however, that no portion of the Common Property shall ever be a Lot except as provided for in Section 2.04.

1.09 MEMBER. "Member" means any member of the Association.

1.10 OWNER. "Owner" means the record owner (including Declarant), whether one or more persons or entities, of a fee simple title to any Lot; provided, however, that where fee simple title has been transferred and is being held merely as security for repayment of a loan, the person or entity who would own the Lot in fee simple if such loan were paid in full shall be the Owner.

1.11 PROPERTY. "Property" means that certain real property (other than common Property) hereinabove described together with such additional real property as the Declarant may acquire and subject to the provisions of this Declaration in accordance with the provisions of Article X hereof.

1.12 RESTRICTIONS. "Restrictions" means all covenants, restrictions, easements, charges, liens and other obligations created or imposed by this Declaration.

1.13 STRUCTURE. "Structure" means:

(a) any thing or object, the placement of which upon any Lot may affect the appearance of such Lot, including by way of illustration and not limitation, any building or part thereof, garage, porch, shed, greenhouse or bathhouse, coop or cage, covered or uncovered patio, swimming pool, fence, curbing, paving, wall, tree, shrub, sign, signboard, temporary or permanent living quarters (including any house trailer) or any other temporary or permanent improvement to such Lot;

(b) any excavation, grading, fill, ditch, diversion dam or other thing or device which affects or alters the natural flow of surface waters from, upon or across any Lot, or which affects or alters the flow of any waters in any natural or artificial creek, stream, wash or drainage channel from, upon or across any Lot; and