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convey a Lot pursuant to a recorded contract for deed, the vendee(s) under the contract for deed and not the fee owner(s) is or are the "Owner(s)" of the Lot for purposes of this Declaration. 6. The Property constitutes a common interest community under Minnesota Statutes Chapter 515B, but Minnesota Statutes Chapter 515B does not apply by reason of Section 515B.1-102(e)(5). 7. The Parties are executing this Agreement to create certain appurtenant easements for the construction, use, maintenance, repair and replacement of drive lanes that will provide vehicular ingress and egress between the Lots and Sunwood Drive and for the construction, use, maintenance, repair and replacement of private utilities and to establish covenants and restrictions relating to the maintenance, repair and replacement of the improvements located within the easements and relating to the use of the Lots, all for the mutual benefit of the Owners. 8. In addition, to satisfy one of the requirements the City of Ramsey, Minnesota (the "City") imposed in connection with the City's approval of the final plat of COR TWO, the Parties desire to grant the City an easement in gross over and across the Lots to permit the City to inspect and, if the City deems it necessary and appropriate to repair private water lines and storm sewers located on the Property. Now, therefore, the Parties hereby declare and create for the benefit of the Parties, the easements, covenants and restrictions described herein. III. AGREEMENT 1. Recitals. The Recitals set forth above are a part of this Agreement. 2. Grant of Easements. The Parties hereby declare and grant the following easements: A. West Access Easement. (i) Grant of Easement. The HRA declares a perpetual, non-exclusive, appurtenant easement over, under and across the portion of the Property legally described and depicted on the attached Exhibit A (the "West Access Easement Property") for vehicular access between Lot 3, Lot 4 and Lot 5 and Sunwood Drive, as dedicated on the plat of COR TWO, Anoka County, Minnesota (the "West Access Easement"). The West Access Easement is appurtenant to Lot 3, Lot 4 and Lot 5 and is intended for the use of the Owners of those Lots and their respective tenants, licensees, invitees and guests. The West Access Easement does not grant the Owners of those Lots or their respective tenants, licensees, invitees and guests the right to park vehicles on the West Access Easement Property. (ii) Construction and Maintenance. The HRA will arrange for the construction of roadway improvements within the West Access Easement Property (the "West Access Improvements"). The 2 4873445v8