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Draft <br /> <br /> SECTION 5 <br />AMENDMENTS AND TERMINATION <br /> <br /> 5.01 Amendments This Declaration may be amended prior to January 1, 1996, by <br />an instrument in writing executed by the City of Ramsey. This Declaration may be amended, <br />modified or terminated by an instrument in writing, executed by the holders of 80% of the <br />votes, as determined at the next previous election of members of the Board, pursuant to Section <br />3.1 of this Declaration. An instrument executed in accordance with this Section 5.1 shall be <br />effective wheta filed for recording with the Anoka County Recorder's Office. No amendment <br />or modification to this Declaration may impose additional restrictions on the property. <br /> <br /> 5.02 Termination The covenants, conditions and restrictions set forth in this <br />Declaration shall run with the land and be binding on all persons claiming under them for a <br />period of 20 ~ears from the date this Declaration is filed for recording with the Anoka County <br />Recorder's Office, after which said covenants, conditions and restrictions shall be <br />automatically, extended for successive periods of ten years each, unless otherwise earlier <br />terminated pUmuant to Section 5.1 of this Declaration. <br /> <br />.. SECTION 6 <br /> MISCELLANEOUS <br /> <br /> 6.01 Severability If any term, covenant or provision of this instrument, or an <br />exhibit attached to it, is held to be invalid or unenforceable for any reason whatsoever, such <br />determination~ shall not be deemed to alter, affect or impair, in any manner whatsoever, any <br />other portion of this instrument or exhibits. <br /> <br /> 6.02 Construction Where applicable, the masculine gender of any word used in this <br />Declaration shall mean the feminine or neutral gender, or vice versa, and any singular of any <br />word used in this Declaration shall mean the plural, or vice versa. <br /> <br /> 6.03 Mortgagees The provisions of this Declaration shall be subordinate to the lien <br />of a flu'st mortgage on any lot and none of the provisions of this Declaration shall supersede or <br />in any way reduce the security or affect the validity of any such mortgage; provided, however, <br />that if any lot is sold under a foreclosure of any such mortgage, the purchaser and the <br />purchaser's heirs, successors and assigns, shall own such lot subject to all of the covenants, <br />conditions and:restrictions of this Declaration. <br /> <br /> 6.04 No Assessments Except as provided in Section 3.4, no assessments may be <br />levied against a lot by the Board or by the owners, nor shall the owners of lots be obligated to <br />pay any dues In connection with the covenants, conditions and restrictions imposed by this <br />Declaration. <br /> <br /> 6.05 Special Events The provisions of this Declaration do not apply to and do not <br />prohibit perio~c, nonpermanent business promotions and special sales events conducted on a <br />lot by the owner or occupant. <br /> <br /> IN WITNESS WHEREOF, the undersigned has executed this instrument the day <br />and year first set forth above. <br /> <br />Page 8 of 9 ~ ~ <br /> <br /> <br />