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Stage 2, Phase 4. <br />Phase 4 includes the development of the final 5 approved parcels. The first <br />Division will include the development of three parcels. The second Division of <br />this Phase will be made up of two Parcels. <br />Notes Effecting Stage 1 and 2. <br />Amenity and recreation facility construction and operation, including indoor and <br />outdoor facilities, if built, may be built and operated during the construction of any <br />Stage or Phase. <br />Recreation use of the property may continue during either Stage of development <br />and may proceed any development of either Stage. <br />Building Permits and home construction may proceed during the construction <br />and prior to final plating or bonding of any Division with Occupancy Permits for <br />said home construction issued upon and simultaneously with final plating or <br />bonding of said division. <br />The project may be developed over a period of 20 years with a possible five-year <br />extension. It is the Project's goal to be complete within a twelve-year period but as <br />has been experienced during previous years political, environmental, economic, <br />and development cycles may increase or decrease the development period of the <br />Project. Therefore, the phases and the development period may be slowed or <br />accelerated as circumstances requires or allow. <br />Market and/or weather or seasonal conditions may impact the rate of <br />development. The Project may be accelerated if approvals and conditions allow for <br />