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burden and benefit to all Owners and Occupants and to any other Persons acquiring or owning an interest in the Development, their heirs, personal representatives, successors and assigns. 8.2 Subdivision Prohibited. No Lot may be subdivided or partitioned, except the Developer may subdivide Lots owned by Developer before construction on such .Lots, in accordance with Government Regulations. 8.3 Residential Use. The Lots shall be used by Owners and Occupants and their guests exclusively as private, single family residential Dwellings, and not for transient, hotel, commercial, business or other non-residential purposes, except as provided in this Article. Any lease of a Lot (except for occupancy by guests with the Owner's consent) for a period of less than thirty(30) days or any occupancy which includes services customarily furnished to hotel guests, shall be presumed to be for transient purposes. 8.4 Business Use Restricted. Except in accord with all applicable Government Regulations and upon the Association's prior written approval, no business, trade, occupation or profession of any kind, whether carried on for profit or otherwise, shall be conducted, maintained or permitted in any Lot, except (i) an Owner or Occupant residing in a Lot may keep and maintain his or her business or professional records in such Lot and handle matters relating to such business by telephone or correspondence therefrom, provided that such uses are incidental to the \.• residential use, do not involve physical alteration of the Lot and do not involve any observable business activity such as signs, advertising displays, bulk mailings, deliveries, or visitation or use of the Lot by customers or employees, and (ii)the Association and the Developer may maintain offices on the Development for management and related purposes. Garage or yard sales conducted more than one time per year or which extend beyond a 72 hour period shall be prohibited. 8.5 Leasing. Leasing of Lots shall be allowed, subject to reasonable regulation by the Association and subject to the following conditions: (a) no Lot shall be leased for transient or hotel purposes; (ii) no Lot may be subleased; (iii) all leases shall be in writing with a copy provided to the Association; (iv) all leases shall specifically provide that they are subordinate and subject to the provisions of the Governing Documents and the Rules and Regulations, and (v) any failure of the lessee to comply with the terms of such documents shall be a default under the lease. The Association may impose such Rules and Regulations as may be necessary to implement procedures for the leasing of Dwellings consistent with this Section. 8.6 Time Shares Prohibited. The time share form of ownership, or any comparable form of lease, occupancy rights or ownership which has the effect of dividing the ownership or occupancy of a Lot into separate time periods, shall be prohibited. Meptember 5, 2006:02006 08 31 F:\OATA\19936\001\DeeleratIm.wpd etq 13