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3 <br /> (d) A public school district; <br /> • (e) An organization exempt from federal income taxes pursuant to Section <br /> 501(c)(3) of the Internal Revenue Code of 1986, as amended ; or <br /> (f) A Minnesota cooperative association organized under Minnesota Statutes, <br /> Section 308.05 and 308.18 for the purpose of complying with the provisions of <br /> Minnesota Statutes, Section 273.133, subdivision 3, or any other party that <br /> would cause the Property to be valued and assessed for real estate tax <br /> purposes at a lower percentage of its market value than the Property is then <br /> being valued and assessed for real estate tax purposes or would result in the <br /> Property becoming exempt from real estate taxes. <br /> 3. The Property shall not be used for any of the following purposes: <br /> (a) The operation of a public charity; <br /> (b) A church or house of worship; <br /> (c) The operation of a public hospital; <br /> (d) The operation of a public schoolhouse, academy, college, university, or <br /> seminary of learning; or <br /> (e) Any other use which would cause the Property to be valued and assessed for <br /> real estate tax purposes at a lower percentage of its market value than the <br /> Property is then being valued and assessed for real estate tax purposes or <br /> would result in the Property becoming exempt from real estate taxes. <br /> 4. The covenants and restrictions herein contained shall run with the title to the Property <br /> and shall be binding upon all present and future owners and occupants of the Property, <br /> provided, however, that the covenants and restrictions herein contained shall inure only <br /> to the benefit of the HRA and may be released or waived in whole or in part at any <br /> time, and from time to time, by the sole act of the HRA, and variances may be granted <br /> to the covenants and restrictions herein contained by the sole act of the HRA. These <br /> covenants and restrictions shall be enforceable only by the HRA, and only the HRA <br /> shall have the right to obtain an injunction, prohibitive or mandatory, to prevent the <br /> breach of covenants and restrictions herein contained, or to enforce the performance or <br /> observance thereof. <br /> • B-2 <br />