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i <br /> , <br /> I <br /> � <br /> � <br /> 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. Binding 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 bv 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 applicable to <br /> HC26DS4/471 5/26539397.v1 12282000 EXHIBIT � <br />