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3.05 !Development Guidelines The Board may from time to time adopt guidelines f6r approval and disapproval of proposed improvements or alterations and the maintenance:~ of them; and, in the event such guidelines are adopted, shall make them available to all owners. SECTION 4 AMENDMENTS AND TERMINATION 4.01 Amendments This Declaration may be amended prior to January 1, 1996, by an instrument in writing executed by the Declarant. This Declaration may be amended, modified or terrrdnated by an instrument in writing, executed by the holders of 80% of the votes, as determined at the next previous election of members of the Board, pursuant to Section 3.01 Of this Declaration. An instrument executed in accordance with this Section shall be effeotive when filed for recording with the Anoka County Recorder's Office. No amendment 6r modification to this Declaration may impose additional restrictions on the Property. : 4.02 Termination The covenants, conditions and restrictions set forth in this Declaration shall run with the Property and be binding on all persons claiming under them for a period of 20 years from the date th~s Declarauon ~s filed for recording w~th the Anoka County Reco~der's Office, after which time, said covenants, conditions and restrictions shall be automatically extended for successive periods of ten years each, unless otherwise earlier termin~tted pursuant to Section 4.1 of this Declaration. SECTION 5 MISCELLANEOUS 5.01 Severability If any term, covenant or provision of this instrument, or an exhibit attachqxl to it, is held to be invalid or unenforceable for any reason whatsoever, such determination~shall not be deemed to alter, affect or impair, in any manner whatsoever, any other portion Of this instrument or exhibits. 5.02 Construction Where applicable, the masculine gender of any word used in this DeclaratiOn shall mean the feminine or neutral gender, or vice versa, and any singular of any word u~ed in this Declaration shall mean the plural, or vice versa. 5.03 Mortgagees The provisions of this Declaration shall be subordinate to the lien of a fkst mortgage on any lot and none of the provisions of this Declaration shall supersede or in any way reduce the security or affect the validity of any such mortgage; provided, however, that if any lot is sold under a foreclosure of any such mortgage, the purchaser and: the purchaser's heirs, successors and assigns, shall own such lot, subject to ail of the covenants, conditions and restrictions of this Declaration. 5.04 No Assessments E.xcept as provided in Section 3.04, no assessments may be levied!against a lot by the Board or by the owners, nor shall the owners of lots be obligated to PaY anY dues in connection with the covenants, conditions and restrictions imposed by this Declaration. 5.05 Special Events The provisions of this Declaration do not apply to and do not prohibit periodic, nonpermanent business promotions and special sales events conducted on a lot by the owner or occupant Page 7 of 8