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E. Developer wishes to impose upon and subject the Property to certain covenants, <br />conditions, restrictions and casements, for the benefit of the Property and all present and future <br />Owners of any part thereof, and in order to satisfy the conditions for the City's approval of the <br />Plat and for the Watershed District's issuance of the Permit. <br />NOW, THEREFORE, in consideration 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 shall constitute covenants running with the <br />land, and declaring that the Property and each portion thereof shall be owned, used, occupied and <br />conveyed subject to the covenants, conditions, restrictions, easements, charges and liens set forth <br />below, all of which shall be binding upon each Person owning or acquiring any right, title or <br />interest therein, and their respective heirs, personal representatives, successors and assigns. <br />ARTICLE I <br />DEFINITIONS <br />The following words, when used in this Declaration, shall have the following meanings: <br />1.1 "Association": Crystal Bay Estates Homeowners Association, a Minnesota <br />nonprofit corporation. <br />1.2 "Committee": the Design Review Committee of the Association exercising the <br />functions and powers described in Article VI below. <br />1.3 "Common Area": Outlot A of the Plat, and the Monument Easement Areas. <br />1.4 "Common Expenses": all expenditures made and liabilities incurred by the <br />Association on behalf of the Owners. <br />1.5 "Developer": Chamberlain Capital LLC, unless and until it assigns to another <br />Person, by an instrument duly recorded in the office of the County Recorder in and for Hennepin <br />2 <br />Error! Unknown document property name. <br />