11-28-2007 Council Agenda - Laserfiche WebLink

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ARTICLE V GENERAL PROVISIONS 5.1 Enforcement. The Owners, or any one or more of them, shall have the right to enforce by any proceeding, at law or in equity, all covenants, conditions and restrictions imposed by the provisions of this Agreement. Failure by any Owners to enforce any covenant or restriction herein contained shall in no event be deemed a waiver of the right to do so thereafter. In any action to enforce the provisions of this Agreement, the prevailing party shall be entitled to its costs, disbursements and reasonable attorney's fees. 5.2 Severability. Invalidation of any one of these covenants or restrictions by judgment or court order shall in no way affect any other provisions, all of which shall remain in full force and effect. 5.3 Duration. The covenants and restrictions of this Agreement shall run with and bind the land, and shall inure to the benefit of and be enforceable by any Owner of a Lot or portion thereof, their respective legal representatives, heirs, successors and assigns, for a term of thirty (30) years from the date this Agreement is recorded, after which time the covenants and restrictions shall be automatically renewed for successive periods of ten (10) years each unless the Owners and first mortgagees of all Lots agree in writing to terminate this Agreement. 5.4 Amendment. This Agreement may be amended only by an instrument signed by the Owners and mortgagees of all Lots. Each amendment must be recorded to be effective: 5.5 Non - Residential Planned Community. The Property is limited to non - residential use and the Minnesota Common Interest Ownership Act, Minnesota Statutes ch. 515B, does not apply to the Property or this Agreement. This Agreement shall otherwise be governed by the laws of the State of Minnesota. IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the day and year first above written.