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2 <br /> <br />WATERMARK 7TH ADDITION. As a result of such separate Open Space Easement Agreement <br />with respect to WATERMARK 7TH ADDITION, Grantor and Grantee agree that the Easement <br />Area over Outlot C, WATERMARK 5TH ADDITION is no longer necessary and the parties hereby <br />agree that the Easement Area and any Open Space Easements encumbering Outlot C, <br />WATERMARK 5TH ADDITION are hereby terminated and may be disregarded in the land records. <br /> <br />2. Defined Terms. Capitalized terms used herein but not otherwise defined in this <br />Amendment shall have the meaning ascribed to such term in the Open Space Easements. <br /> <br />3. Binding Effect. The terms and conditions of this instrument shall run with the land and <br />be binding on the Grantors, and their respective successors and assigns. <br /> <br /> <br />(The remainder of this page left blank intentionally.)