Declaration of Covenants, Condition, Restrictions & Easements

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set forth below, hereby declaring that this Declaration shall constitute covenants running with the land, and declaring that the Property and each portion thereof shall be owned, used, occupied and conveyed subject to the covenants, conditions, restrictions, easements, charges and liens set forth below, all of which shall be binding upon each Person owning or acquiring any right,title or interest therein, and their respective heirs, personal representatives, successors and assigns. ARTICLE I DEFINITIONS The following words, when used in this Declaration, shall have the following meanings: 1.1 "Committee": the Design Review Committee exercising the functions and powers described in Article VI below. 1.2 "Common Expenses": all expenditures made and liabilities incurred by an Owner of Lots 1 & 2 on behalf of the Owners of Lots 1 & 2. 1.3 "Developer": Orono Orchard, LLC, unless and until it assigns to another Person, by an instrument duly recorded in the office of the Registrar of Titles in and for Hennepin County, Minnesota, the rights of Developer under this Declaration, in which case "Developer" shall mean the owner from time to time of the rights of Developer under this Declaration. 1.4 "Lot": any of one of the numbered lots in the Plat; provided, however, that if the Additional Property has been subjected to this Declaration, "Lot" also may mean the Additional Property or any numbered lot in any plat that subdivides the Additional Property. 1.6 "Owner": one or more Persons who or which holds fee title to a Lot; provided, however, that if a Lot is being sold pursuant to a contract for deed, the contract purchaser(s) entitled to possession of the Lot shall be the Owner unless and until the contract for deed shall have been cancelled or otherwise shall have terminated. If more than one Person constitutes the 1021479v5 2