The Agreement Creating Restrictive Covenants outlines the terms for maintaining property values within a designated subdivision in Wake. It establishes a Homeowner's Association tasked with enforcing the covenants and restrictions applicable to all property owners in the area. Key features include provisions that bind property owners to comply with association rules, the qualifications for membership, and the ability of the majority of owners to amend the agreement. Additionally, the document lays out the responsibilities of the Association regarding adherence to local laws and the procedures for terminating the agreement after a set period. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions or property management, as it provides a structured framework for property governance and legal compliance. By utilizing this agreement, users can ensure that neighborhood standards are upheld, thereby preserving property values and enhancing community desirability.