After Recording Return To: Robert D. Burton Armbrust & Brown, L.L.P. 100 Congress Ave Ste 1300 Austin, Texas 78701-2744

VILLAGE AT LEDGE STONE

FIRST AMENDMENT TO DEVELOPMENT AREA DECLARATION AND DECLARATION OF CONDOMINIUM REGIME FOR VILLAGE AT LEDGE STONE CONDOMINIUMS

Hays County, Texas

Declarant: 290 EAST BUSH, INC., a Texas corporation

Cross reference to that certain Village at Ledge Stone Master Covenant, recorded as Document No. 06034956 in the Official Public Records of Hays County, Texas and to that certain Development Area Declaration and Declaration of Condominium Regime for Village at Ledge Stone Condominiums, recorded as Document No. 06035025 in the Official Public Records of Hays County Texas.

342231-1 09/22/2008

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FIRST AMENDMENT TO DEVELOPMENT AREA DECLARATION AND DECLARATION OF CONDOMINIUM REGIME FOR VILLAGE AT LEDGE STONE CONDOMINIUMS

This First Amendment to Development Area Declaration and Declaration of Condominium Regime for Village at Ledge Stone Condominiums (this "Amendment") is made by 290 EAST BUSH, INC., a Texas corporation ("Declarant"), and is as follows:

RECITALS:

A. Village at Ledge Stone Condominiums, a residential condominium regime located in Hays County, Texas (the "Regime"), was established pursuant to that certain Development Area Declaration and Declaration of Condominium Regime for Village at Ledge Stone Condominiums, recorded as Document No. 06035025 in the Official Public Records of Hays County, (the "Declaration"). Capitalized terms used but not defined in this Amendment have the meanings ascribed to such terms in the Declaration.

B. Pursuant to Provision A.3.11 of Appendix "A" to the Declaration, Declarant may amend the Declaration unilaterally and without the consent of other Owners or any mortgagee to create Units, General Common Elements and Limited Common Elements within the Regime.

C. In accordance with Section 4.1 and Provision A.3.9 of Appendix "A" to the Declaration, Declarant has reserved the right, during the Development Period, to create Units, General Common Elements, and Limited Common Elements within the Property. The "Development Period" as such term is defined in the Declaration, is a fifteen (15) year period commencing on the date the Declaration was recorded in the Official Public Records of Hays County, Texas. The Declaration was recorded in the Official Public Records of Hays County, Texas, on November 16, 2006; as such, the Development Period is still in effect.

D. Declarant desires to amend the Declaration for the purpose of creating seventy-one (71) additional Units within the Regime. The total number of Units within the Regime after giving effect to this Amendment is equal to one hundred thirty-seven (137).

NOW THEREFORE, the Declaration is hereby amended as follows:

1. Creation of Units. In accordance with the rights reserved by the Declarant pursuant to Section 4.1 of the Declaration and Provisions A.3.9 and A.3.11 of Appendix "A" to the Declaration, Declarant hereby creates seventy-one (71) additional Units within the Regime, which are designated as Unit Nos. 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 87, 88, 89, 90, 91, 92, 93, 94, 95, 96, 97, 98, 99, 100, 101, 102, 103, 104, 105, 106, 107, 108, 109, 110, 111, 112, 113, and 114 (collectively, the "New Units"). The New Units are hereby classified as Units which MUST BE BUILT.

2. Supplement to Attachment 1. Attachment 1 to the Declaration is hereby supplemented by the Plats and Plans attached hereto as Attachment 1 (the "Supplemental Plats and Plans"). The Supplemental Plats and Plans: (i) assign an identifying number to the New Units; (ii) describe the portion of the Limited Common Elements created or assigned to the New Units; and (iii) include the information required by Section 82.059 of the Texas Uniform Condominium Act.

3. Replacement of Attachment 2. The Common Interest Allocation, percentage of liability for common expenses and number of votes allocated to all Units within the Regime, after the addition of the New Units, is set forth on Attachment 2, attached hereto and incorporated herein by reference. Attachment 2 supercedes and replaces Attachment 2 to the Declaration in its entirety.

4. Miscellaneous. Any capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Declaration. Unless expressly amended by this Amendment, all other terms and provisions of the Declaration remain in full force and effect as written, and are hereby ratified and confirmed.

[SIGNATURE PAGE FOLLOWS]

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EXECUTED to be effective on the date this Amendment has been recorded in the Official Public Records of Hays County, Texas.

DECLARANT:

290 EAST BUSH, INC., a Texas corporation

By: [signature]

Date: September 25, 2008

STATE OF TEXAS

COUNTY OF HAYS

This instrument was acknowledged before me on this 25th day September, 2008 by Michael L. Schoenfeld, Vice President of 290 East Bush, Inc., a Texas corporation, on behalf of said corporation.

Notary Public, State of Texas My Commission Expires 8-23-2010

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ATTACHMENT 1 — Supplemental Plats and Plans

Attachment 1 consists of two graphical survey sheets titled "PLAT OF THE VILLAGE AT LEDGE STONE CONDOMINIUMS," each labeled "A PORTION OF LOT 1, BLOCK D, BUSH RANCH PHASE 1 REVISED, Volume 14 Page 54, Hays County Plat Records" (Page 1 of 2 and Page 2 of 2). These sheets are surveyor's drawings — a scaled plat (SCALE: 1" = 100'), an "OPEN SPACE, DRAINAGE AND UTILITY LOT" designation, curve data tables, numbered courses, and general notes. The drawn/tabular content does not convert reliably to text; the recorded instrument controls. The General Notes on the plat read substantially as follows:

GENERAL NOTES

1. All improvements and land are [sic] general common elements, save and except portions of the regime designated as limited common elements or units: (i) in the Declaration [and Declaration of Condominium Regime for Village at Ledge Stone] Condominiums (the "Declaration"); or (ii) on the plats and plans of the regime.

2. Ownership and use of condominium units is subject to the rights and restrictions contained in the Declaration.

3. Each unit, building, and [sic] common element is subject to special rights reserved by the Declarant, as provided [in] Provision A.4 of Appendix "A" to the Declaration. Pursuant to such provisions, among other things, Declarant has reserved the right to (i) complete or make improvements indicated on the plat and plans, as provided in Provision A.4(i) of Appendix "A" to the Declaration; (ii) exercise any development right permitted by the Texas Uniform Condominium Act (the [sic] Act) and the Declaration, including the addition of [proper]ty [to] the regime, which property may be added as units, general common elements and/or limited common elements, as provided in Section 2.2 of the Declaration and Provision A.4(ii) of Appendix "A" to the Declaration; (iii) make the property part of a larger condominium or planned community, as provided in Provision A.4(iii) of Appendix "A" to the Declaration; (iv) use units owned or leased by Declarant as models, storage areas, and offices for the marketing, management, maintenance, customer service, construction, and leasing of the property, as provided in Provision A.4(iv) of Appendix "A" to the Declaration; and (v) [sic] appoint or remove any Declarant-appointed officer or director of the Association during the Declarant control period (as defined in the Declaration) consistent with the Act, as provided in Provision A.4(v) [sic] of Appendix "A" to the Declaration. As provided in Provision A.4(v) of Appendix "A" to the Declaration, for purposes of promoting, identifying, and marketing the property, Declarant reserves an easement and right to place or install signs, banners, flags, display lighting, potted plants, exterior decorative items, seasonal decorations, temporary window treatments, and seasonal landscaping on the property, including items and locations that are prohibited to other Owners. Declarant reserves an easement and right to maintain, [repair, and] remove the same from time to time within the property. As provided in Provision A.4(vi) of Appendix "A" to the Declaration, Declarant has an easement and right of ingress and [egress in] and through the common elements (as defined in the [Declaration]) [for units] owned or leased by Declarant for purposes of constructing, maintaining, managing, and marketing the property, and for discharging Declarant's obligations under the Act and the Declaration.

[The curve-data tables and numbered-course tables on the plat sheets are graphical/tabular survey data and are omitted here as not reliably machine-readable; see the recorded instrument for the surveyed dimensions.]

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ATTACHMENT 2 — Common Interest Allocation

COMMON INTEREST ALLOCATION

The Common Interest Allocation and percentage of liability for common expenses for each Unit is 1/137. Each Unit is allocated one (1) vote.

342231-1 09/22/2008