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DECLARATION OF RESTRICTIVE COVENANTS <br />City of Orono, a municipal corporation and political subdivision of the State of <br />Minnesota ("Declarant"), effective on the 7th day of May, 2004, hereby declares as follows: <br />RECITALS <br />A. Declarant is or will be the fee simple absolute owner of that certain real property <br />in Hennepin County, Minnesota legally described in Exhibit A hereto (the "Property"). <br />B. Declarant desires to subject the future use of the Property to the restrictions and <br />limitations set forth in this Declaration. <br />DECLARATIONS <br />NOW, THEREFORE, in consideration of the foregoing recitals, the restrictions set forth <br />herein, and other good and valuable consideration, the receipt, sufficiency and fairness of which <br />is hereby acknowledged, Deolarant does hereby declare as follows: <br />1. Restrictions. All persons and entities having an interest in the Property, <br />including Declarant, of any kind or nature, whether legal, equitable or otherwise, and including <br />without limitation all lessees, occupants, and secured parties, by their acceptance or assertion of <br />an interest in the Property, or by their occupancy of the Property, covenant and agree that the <br />ownership, use, occupancy, operation, alienation and conveyance of and their interests in the <br />Property shall be subject to the following restrictions: <br />a. The Property shall be managed and maintained consistent with the purpose and <br />type of property acquired using appropriate management and protection practices <br />to protect the natural and/or scenic resources; and <br />b. The Property may not be used for any other purpose without the express written <br />approval of the Commissioner of the Minnesota Department of Natural Resources <br />--(the "DNR"). <br />121089623v1 754868 <br />