STATE OF LOUISIANA

PARISH OF CADDO

       BEFORE ME, the undersigned Notary Public, came and appeared:

      WALLACE LAKE DEVELOPMENT, L.L.C. ("Wallace Lake"), a
      Louisiana limited liability company, domiciled in Caddo Parish,
      Louisiana, whose mailing address is 400 Travis Street, Suite
      1510, Shreveport, Louisiana 71101, herein represented by and
      through C. DeWitt Caruthers, its duly authorized Manager;

who declared, covenanted and agreed as follows:

      1. Recitals

            1.1 Wallace Lake is the owner of St. Andrews Place Subdivision, Unit 1 (the
            "Subdivision"), a subdivision of Shreveport, Louisiana, as per plat
            recorded in Book ___, pages ___________ of the Conveyance Records
            of Caddo Parish, Louisiana.

            1.2 The Subdivision consists of approximately 14 lots and contains two
            ponds, specifically, Pond A and Pond B.

            1.3 Lots 1, 2 & 3 of the Subdivision adjoin and include a portion of Pond A of
            the Subdivision and Lots 4, 5 & 6 adjoin and include a portion of Pond
            of the Subdivision.

            1.4 In order to protect and enhance the value and desirability of the lots of the
            Subdivision which adjoin and include a portion of either Pond A or Pond
            B, Wallace Lake hereby subjects Lots 1 - 6 of the above-described
            Subdivision to the following Reciprocal Servitude and Declaration of
            Restrictions.

      2. Creation of Servitude by Destination of the Owner: Pond A

      Lots 1, 2 & 3 of the Subdivision grant to each other a perpetual servitude upon
      and across the entirety of Pond A for access, use and enjoyment of said Pond.
      Additionally, said Servitude extends on and across Pond A for the purpose of
      maintenance and repairs of Pond A and of said Pond's dam or related structure.

      3. Creation of Servitude by Destination of the Owner: Pond B

      Lots 4, 5 & 6 of the Subdivision grant to each other a perpetual servitude upon
      and across the entirety of Pond B for access, use and enjoyment of said Pond.
      Additionally, said Servitude extends on and across Pond B for the purpose of
      maintenance and repairs of Pond B and of said Ponds dam or any related
      structure.

      4. Declaration of Restrictions

            4.1 Each Owner of a Lot which adjoins and includes a portion of either Pond
            A or Pond B shall be primarily responsible to maintain and repair said
            Ponds shoreline on said Owner's respective Lot, in compliance with all
            applicable laws, regulations or ordinances; however, if a Pond Lot Owner
            fails or refuses to perform necessary repairs or maintenance for a period
            of thirty (30) days after written notice from the St. Andrews Place
            Homeowners Association, Inc. (the "Association") of the existence of a
            violation thereof, the Association shall have full power and authority to
            perform the required maintenance or repair and to assess the Pond Lot
            Owner for such.

            4.2 Each Pond Lot Owner shall have the right to use their respective Pond,
            as delegated above, by boat; provided, however, said Pond Lot Owner
            does not trespass onto another Pond Lot Owner's Lot.

            4.3 No gas powered or internal combustion motor is permitted on either Pond
            in the Subdivision, and, as such, the only motor allowed on either Pond is
            a silent electric powered trolling motor.

            4.4 No pumps of any type are allowed to withdraw water from the Ponds for
            use with home sprinkler systems and any other use not approved by the
            Association. Emergency use for extinguishment of fires is permitted.

            4.5 Each Pond Lot Owner shall use their best effort to control siltation and
            minimize runoff from any and all types of chemicals, including fertilization,
            in order to protect against pollution and contamination of the Ponds.

            4.6 No boat canal shall be constructed or installed upon any Lot nor shall any
            facility or fence be constructed which alters the course of or natural
            boundaries of the Ponds. No Lot shall be increased in size by filling in the Pond(s).

            4.7  No boat, hoists, launching facilities or any similar type of structures or
            equipment shall be installed, constructed or maintained upon any Lot, nor
            shall any boat trailer be stored on any Lot, without the consent of the Association.

            4.8 Rules and regulations for the use and enjoyment of the Ponds may be
            promulgated by Wallace Lake. Such rules may regulate all access and uses.

            4.9 All use of the Ponds shall be at the users own risk and Wallace Lake shall
            have no liability arising out of any such use. All users herein waive any
            cause of action (for themselves, their children, heirs, invitees, successors
            and assigns) against any Owner, Pond Lot Owner, Declarant, Developer
            or Wallace Lake arising out of use of either Pond.

      5. Covenants Running with the Land

      The rights and restrictions granted herein are rights and restrictions running with
      the land, Lots 1, 2 & 3 in favor of the other and shall be binding on the Owners,
      their respective successors, heirs and assigns, and Lots 4, 5 & 6 in favor of the
      other, and shall be binding on the Owners, their respective successors, heirs and assigns.

      6. Destination of the Owner Converts to Servitude As of Right

      The rights and restrictions pertaining to the Creation of Servitude by Destination
      of the Owner: Pond A and the Creation of Servitude by Destination of the Owner:
      Pond B, granted herein, are governed by Article 741 of the Louisiana Civil Code.
      Pursuant to said article, a servitude with respect the Creation of Servitude by
      Destination of the Owner: Pond A will come into existence upon Wallace Lake's
      conveyance of any of Lot 1, 2 or 3 with respect to Pond A, and a servitude with
      respect to the Creation of Servitude by Destination of the Owner: Pond B will
      come into existence upon Wallace Lake's conveyance of any of Lot 4, 5 or 6 with
      respect to Pond B.




DONE AND PASSED before me, Notary, and in the presence of the undersigned competent
witnesses, on this the ___ day of ____________, 2010.

WITNESSES:

WALLACE LAKE DEVELOPMENT, L.L.C.


___________________________

By: _______________________________

C. DeWitt Caruthers, ___________________________
Manager



______________________________________
NOTARY PUBLIC in and for Caddo Parish, Louisiana.