The Ars Magica online forums have created a community project to provide a set of sample covenants.
This summary is to late to be part of that project, but I thought I’d create a covenant in detail anyway.
The Covenant of the Shivering Mountain.
Conceptual setting (what stage of life, history, location, inhabitants, how new, high level issues)
History, why the name, bronze age burial mounds, an iron age hill fort.
The Magi (created by players, staffed by a redcap until founding is completed)