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2.4 Deannexation of Property. Portions of the Property may be deannexed and withdrawn from this Master Declaration subject to the following requirements: (i)the Property shall be owned by the Master Developer; (ii)the deannexation shall be approved by the Master Developer and Master Board; and (iii) an amendment to this Master Declaration describing the deannexation and the parcel being deannexed shall be executed by the Master Developer and the Master Association, consented to by any Mortgagee of the deannexed parcel, and recorded. Upon recording of the amendment,the deannexed parcel shall no longer be subject to this Master Declaration. 2.5 Interests Subject to Plan of Development. Every Person holding or acquiring an interest in any portion of the Property, shall take title or hold such interest subject to the Master Developer's rights pursuant to this Master Declaration. Notwithstanding anything to the contrary in this Master Declaration, the Master Developer's rights or obligations under the Master Governing Documents may not be changed in whole or in part without the prior written consent of the Master Developer, which consent may be granted or denied in the Master Developer's sole and absolute discretion. SECTION 3 ASSOCIATION STRUCTURE,AUTHORITY AND MEMBERSHIP 3.1 Formation/PLiMoses. The Master Association is formed as a Minnesota non-profit corporation pursuant to Minnesota Statutes Chapter 317A and Section 515B.2-121(a) of MCIOA. The Master Association shall have the obligation and the power to perform the following functions: 3.1.1 To maintain, repair and replace the Master Common Elements, and all Improvements thereon, and to provide such other maintenance, repair and replacement as the Master Association is obligated to provide under this Master Declaration; 3.1.2 To administer and enforce the covenants, conditions, restrictions, easements, and other rights and obligations, set forth in the Master Governing Documents, and the Neighborhood Governing Documents; 3.1.3 To control, preserve and enhance the architectural, aesthetic and environmental character of the Property; and 3.1.4 To administer and coordinate the operation and use of the Master Common Elements. 3.2 Powers and Administration. The operation and administration of the Master Association shall be governed by the Master Governing Documents, MCIOA and the Minnesota Nonprofit Corporation Act, and Minnesota Statutes Chapter 317A. 3.2.1 The Master Association is responsible for the overall operation, management and control of the Property. The Master Association shall have and exercise all powers relating to the operation and maintenance of the Property on behalf of its Members and all Owners and Occupants, except to the extent that such powers are expressly reserved to one or more of the Neighborhood Associations or relinquished by 6 219o398.v1