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Lake Aero Estates Covenants and Restrictions are designed to provide owners with lasting property values and enjoyment of their property.

1.      All lots within Lake Aero shall be known and described as residential lots. No trade or business of any kind shall be conducted upon such lots or any part thereof. No structure shall be erected, placed, altered, used, or permitted to remain on any residential building plot other than one detached single family private dwelling, not to exceed two stories in height, one private garage, one private aircraft hangar. No structure of a temporary character, such as a trailer, basement, tent, shack, garage, barn, or other out-building, shall be used on any lot at any time as a dwelling.
2.      No building, fence, or other structure shall be commenced, erected, placed, or altered on any building plot until the building plans, specifications, and plot plan showing the location of such building, fence, or other structure have been submitted to, and have been approved in writing by a majority of the Architectural Control Committee for control of quality of workmanship and materials, harmony of external design with existing structures, location of said building, fence, or other structure with respect to topography and finish grade level elevation, and compliance with the restrictions and covenants herein and Building Commission of Newton County, Indiana. Milo M. Fencl. Ann M. Fencl, and two members to be elected from the property owners by a majority vote of the property owners every two years, and the members shall serve without compensation. In the event of death or resignation of any members, a replacement may be appointed by a majority of the remaining members. If said committee fails to approve or disapprove said submission within thirty (30) days, then approval will not be required and construction can begin, subject to restrictions and covenants, and provided the design and location conform to, and are in harmony with, existing structures. The Architectural Control Committee shall also act as a governing body with legal authority to make whatever rulings, or call for an election, deemed necessary to protect the best interests of the property owners.
3.      Construction of new buildings only shall be permitted. It is the intent of this restriction to prohibit the moving of any existing building, mobile home, or portable building onto the property and remodeling or converting the same into a dwelling.
4.      No dwellings shall be permitted on any lot having less than 2000 square feet of floor space on the ground floor in the dwelling proper, exclusive of porches, garages, and airplane hangars. The exterior construction of the main dwelling house erected on each lot shall be constructed of brick, stone, masonry, masonry veneer, stucco, or glass building materials for the kind usually used for outside wall construction, and shall have a roof of either wood shingles, wood shakes, or tile, or fire-proof roofing, unless the prior approval for the use of other materials is received in writing by the Architectural Control Committee prior to their use in construction.
5.      The airplane hangar space on each lot shall be limited to strictly private use and a minimum size of 1500 square feet. All hangars shall be incorporated into the architecture of the home, and be of architectural style and planning to enhance the appearance of the neighborhood. A home may be built with the hangar as a later addition, but no hangar may be built before the home.
6.      Parking of airplanes and automobiles on public streets or taxiways is expressly prohibited.
7.      Approval, in writing, of the Architectural Control Committee shall be required for any structure of more than twenty-five (25) feet in height, for any rear yard fence or wall more than six (6) feet in height, for any fence or wall or other obstruction within the front thirty-five (35) feet, for any woven wire or steel mesh fence other than chain link.
8.      No gasoline or other flammable fuel may be stored at any time.
9.      No disassembling or overhaul or repair of any aircraft or other vehicle or parts of the same shall be allowed on the lots. This restriction is not intended to preclude minor repairs or tune-ups; but is intended to prohibit major repairs involving disassembly of large parts which might remain for several days in unenclosed spaces, such as drives or plane ports. No repairs of any kind shall be performed commercially.
10.      No noxious or offensive activities shall be carried on upon any lot, nor shall anything be done thereon which may be, or may become an annoyance or nuisance to the neighborhood. Dogs, cats, and other domestic type animals may be kept on the lot, but shall be limited so that they do not create offensive odors, undue noise or other type nuisance to adjoining lots and in no event shall any commercial operations concerning such animals be allowed on any such lot. In no event may swine or pigs or chickens, etc., be kept or maintained on any such lot.
11.      No purchaser shall use as a dumping ground any lot, public road, or easement. Trash, garbage, and other waste shall be kept in a sanitary container and all such containers, incinerators, and other equipment shall be kept in a clean and sanitary condition. Each property owner shall maintain his property in a clean, attractive condition, and where necessary, appropriate action may be taken by the Architectural Control Committee with fines or assessments levied against the property owner.
12.      All brush, trash, or other outside fires are expressly prohibited.
13.      All sewage shall be disposed of by water carriage to a sanitary septic tank and underground disposal system constructed within the guidelines of all government agencies. Absolutely no sewage is to be drained toward the lake. All outside toilets or privies or other type pit toilets are expressly prohibited.
14.      The erection of signs is expressly prohibited. Nothing in this restriction shall be construed to prevent small, neatly painted, directional, information, or "for sale" signs, and the same shall apply to the developer during the time of the original sale of said property.
15.      No lot in Lake Aero shall be subdivided unless prior approval is obtained in writing from the Architectural Control Committee, and no lot can be resold until the sales contract is offered first to the Zoning Committee with a right of purchase for the same price as offered on the contract.
16.      The developer of Lake Aero reserves the right to encroach upon the boundary lines of any and all lots for the purpose of laying and maintaining water, sewage, and other utility lines as deemed necessary and expedient.