All buildings constructed on any lot shall be connected to the City of Austin or municipal utility district utility services. An underground electric distribution system will be installed to serve all lots in the subdivision, provided, however, perimeter lots may be served by overhead electrical lines and in such event the owner of such perimeter lots so served shall provide for overhead connection. The owner of each lot shall, at his own cost and expense, furnish, install, own and maintain (all in accordance with the requirements of local governmental authorities and the National Electrical Code) an underground service cable and appurtenances (except as herein provided) from the meter installed upon lot by the electric company to such point as may be designated by such company of the property line of such lot. The company furnishing electric service shall make the necessary connection at the property line and at the meter. Each owner shall also install, furnish, own and maintain at his own cost and expense a meter loop (in accordance with the then current standards and specifications of the electric company) for the residence constructed on the lot. For so long as underground service is maintained, the electric service to each lot shall be uniform in character and exclusively of the type known as single-phase 120-240 volt, 60 cycle, alternating current.