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.. � . <br /> r . . . <br /> WHEREAS,Deciarants are selling Lot 1 and the bnyer thereof is requiring that . <br /> ownership of the Outlots be held by the owner of Lot 1 alone,instead of being shared�iy the <br /> owners of Lot 1 and Lot 2 equally and Declazants have agreed to ttiis requirement subject to <br /> ' receipt of the approval of the City�(as defined in the Declaration)and the lenders holding <br /> mortgages on the Lots as required by the Declaration. <br /> � . AGREEMENT <br /> NOW,THEREFORE,Declarants hereby declaze that the Lots a.nd Outlot are and shall <br /> be held,transferred,sold conveyed and occupied subject to the covenants,conditions,restrictions ' <br /> and easements set forth in the Declazation and this Amendment. <br /> 1. Section 4 of the Declazation- Ownership of Outlot A and Outlot B. The , <br /> following sentence in Section 4 of the Declaration shall be deleted i�a its entirety: <br /> - Each Lot shall be sold,transferred and conveyed together with an undivided one- � <br /> � half(1/2)interest in Outlot A and an undivided one-half(1/2)interest in Outlot B, <br /> and replaced with the following sentence: . <br /> Lot 1 shall be sold,transferred and conveyed together with 100%ownership of <br /> the Outlots. <br /> 2. Governin�. This Amendment shail be govemed by and const�nied in <br /> accordance with the laws of the State of Minnesota. . <br /> 3. Binding Effect. This A.mendment shall be binding upon and shall inure to the , <br /> benefit of the Parties hereto and their successors and assigns. <br /> 4. Counterparts. This Amendment may be executed in auy number of counterpazts, <br /> • each such counterpart shall be deemed to be an original ins�rument azxd all such counterparts <br /> together shall constitute a fully executed Amendment. <br /> 5. HeadinQs. The headings used in this Amendment are foz convenience only and . <br /> �shall not affect the meaz�ung or interpretation of the Amendment or any provision or paragraph <br /> thereof. � <br /> 6. Ratification. Except as modified herein, all terms and conditions of the <br /> Declaration remaiva in full force and effect. <br /> [Signature Page and Consents to follow] <br />