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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 _ day of , 2001, hereby declares as <br />follows: <br />RECITALS <br />A. Declarant is the fee simple absolute owner of that certain real property in <br />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, Declarant 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 preserved and used only as a natural, passive, environmental <br />park. <br />b. The Declarant shall provide improvements consistent with the use of the Property <br />provided in 1(a) above, which may include a picnic area in the open area of the <br />property, hiking trails, and a parking lot. <br />C. No hunting shall be allowed on the Property. <br />d. No ballfields shall be allowed on the Property. <br />2. Bindine Effect. This Declaration shall run with the Property and be a servitude <br />thereon, and shall be binding upon all persons claiming any right or interest in or to the Property, <br />and their heirs, assigns and successors -in -interest. <br />3. Anticipated Acquisition by the Minnesota Department of Transportation. It <br />- is understood that a portion of the Property may be acquired by the Minnesota Department of <br />Transportation ("MnDOT"). The covenants herein reflected shall not be binding or app lea e to <br />HC26DS4/ 4715/ 26539397.vl 121282000 EXHIBIT B <br />