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, ► <br /> PC Exhibit E <br /> REC��v�� <br /> JUN oa 20�5 <br /> G�����ONO TI <br /> DECLARA ON OF COVENANTS, <br /> CONDITIONS,RESTRICTIONS AND EASEMENTS <br /> THIS DECLARATIQN IS EXEMPT FROM THE PROVISIONS OF THE MINNESOTA <br /> CONCVION INTEREST OWNERSHIP ACT,MINNESOTA STATUTES CHAPTER 515B, <br /> PURSUAI�IT TO MINNESOTA STATUTES SECTION 515B.1-102 (e) (2). <br /> This Declaration of Covenants, Conditions, Restrictions and Easements (this <br /> "Declaration") is made this day of , 2015, but effective as provided below, by <br /> BPS Praperties, LLC ("Developer"), a Minnesota limited liability company, and is based on the <br /> following facts: <br /> A. Developer is the owner of fee title to real property located in the City of Orono <br /> (the "Cit}�'), County of Hennepin (the "Count}�'), and State of Minnesota, legally described on <br /> Exhib�t KA" attached to and made a part of this Declaration by this refexence (the "Larger <br /> Parcel"). <br /> B. The Larger Parcel consists of eleven(11) residential lats (each a"Lot") and seven <br /> (7) outlots (each an"Outlot'�. <br /> C. Developer wishes to impose upon and subject the portion of the Larger Parcel <br /> consisting of all of the Lots and all of the Outlots except for Qutlots A and D (the "Property"), ta <br /> certain covenants, conditions, restrictions and easements, for the benefit of the Property and all <br /> present and future Owners of any part thereaf. <br /> N�W, THEREFORE, in cansideration of the facts stated above, Developer hereby makes <br /> this Declaration and submits the Property to the covenants, conditions, restrictions and easements <br /> set forth below,hereby declaring that this Declaration sha11 constitute covenants running with the <br />