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sum from the time the sum first became due until paid, at the <br />rate of twelve (12%) percent per annum or at such lesser rate as <br />the Owners may set by agreement from time to time, but in no <br />event shall the rate of interest be greater than that lawfully <br />collectible under then current laws. <br />Section 5. Termination of Covenant Liability. Whenever a <br />transfer of ownership of a Lot (or any part thereof) takes <br />place, liability of the transferor for breach of covenant or <br />expense occurring thereafter automatically terminates. <br />ARTICLE V <br />CABIN AND LOT RESTRICTIONS <br />Section 1. Use. No more than one Cabin (and accessory <br />buildings) shall be erected or maintained on each Lot, and no <br />Lot shall be further subdivided or partitioned. No Cabin shall <br />contain more than two bedrooms. <br />Section 2. Duration and Amendment. The covenants and <br />restrictions of this Declaration (other than those relating to <br />the easements) shall run with and bind the land and shall inure <br />to the benefit of and be enforceable by the respective Owners <br />from time to time of all or any part of the Lots and their <br />respective heirs, successors, personal representatives and <br />assigns for a period of 30 years after the date of recording of <br />this Declaration, after which time the covenants and <br />restrictions shall be automatically renewed for successive <br />periods of 10 years unless amended or terminated by recording a <br />statement executed by the Owners and the mortgage holders of <br />both of the Lots and by the City Council of the City of Orono. <br />ARTICLE VI <br />GENERAL PROVISIONS <br />Section 1. Enforcement. An Owner of a Lot may enforce <br />this instrument by appropriate action and should it prevail in <br />such litigation, it shall recover as part of its costs a <br />reasonable attorney's fee. <br />Section 2. Notice. Any notice required or permitted to be <br />given under this Declaration shall be deemed given if deposited <br />in the U.S. Mails registered or certified mail, return receipt <br />requested and addressed to the last known address of the <br />recipient. Notice so given will be deemed given when deposited <br />in the mail. 'Notice may also be given in writing by personal <br />delivery. An Owner may give other Owners notice of its current <br />address by written notice under this Article. <br />-5-