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Declaration. by a separate instrument signed by Master Declarant and the transferee, and recorded against the portions of the Development Area affected. • 13.3 Rights and Obligations of Master Declarant, as Upon transfer of any Master Declarant Rights, the liability of Master Declarantshall 13.3.1 Master Declarant shall remain liable for any obligation or liability arising prior to the transfer. 13.3.2 Master Declarant shall remain liable for any obligation or liability relating to any Master Declarant Rights retained by Master Declarant. 13.3.3 Master Declarant shallahave no Right byility for any act or omission the transferee of the Master rant from the exercise of a Master De g Declarant Right. 13,4 Rights and Obligations of Successor Master Declarant. My tra transferee s and ofshbe Master Declarant rights shall be entitled to exercise such Master subject to ail of the obligations with respect thereto; �(� � b a h of fiduoiiary obligation by ons of Master Declarant; (ii) warranty obligations of Master Declarant Master Declarant or by any Officers of members Declarant as a resin a y Master Master Declarant, (iv) any liability or obligation posed on Master liabilityarisingout of any Master Declarant's acts or omissions after the transfer; and (v) any Declarant Rights retained by the Master Declarant. SECTION 14 AMENDMENTS This Master Declaration may be amended by recording an appropriate amendmentin the office of the applicable county recording officer, subject to the followingrequirements: 14.1 Annrovals. The amendment shall have been approved as follows: 14.1.1 All amendments shall be approved by Members holding at least seventy-five percent (75%) of the votes of all Members. 14.1.2 Any amendment that affects any Master Declarant right shall be approved in writing by Master Declarant so long as Master Declarant owns an unsold Brit or has the right to subject Property to this Declaration. 29 121110757v8 1320716 8/15/05