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ko "Owner" shall mean and refer to the holder of the <br />fee simple absolute, a contract vendee or a life <br />tenant, whether one or more persons or entities, of ~ <br />house, and shall exclude holders of an interest as <br />security for an obligation until such time as them rn~y <br />obtain Fee simple interest by foreclosure or deed in <br />lieu of foreclosure. <br /> <br />1. "Property" shall mean and refer collectively to all <br />of the real property submitted to the covenants and <br />restrictions of this Declaration and legally described <br />in attached Exhibit C. <br /> <br />m. "Rules and Regulations" shall mean and refer to the <br />Rules and Regulations of the Association as approved <br />from time to time by the Association pursuant to <br />Section <br /> <br />n. "House" shall mean and refer to any portion of a <br />building located on a Lot and designated and intended <br />for use and occupancy as a residence by a single Family <br />and including any garage which may be part of or within <br />such building. <br /> <br />ARTICLE <br /> <br />PROPERTY SUBJECT TO THIS DECLARATION <br /> <br /> Section 2.1 Property. The Property is legally <br />described in Section I.i, Paragraph 1, and shall be held, <br />transferred, sold, used, conveyed and occupied subject to <br />this Declaration. The Common Property is legally described <br />in Section l.i, Paragraph d, and shall be conveyed to the <br />Association at or prior to the time of conveyance of the <br />first Lot to an Owner. <br /> <br /> Section 2.2 Transfer of Lots. The Lots shall be Freely <br />transferable in accordance with the applicable laws of the · <br />State of Minnesota and the provisions of the Governing <br />Documents; provided, that the share of an Owner in the <br />assets of the Association, and the Owner's rights and <br />obligations as a member of the Association cannot be <br />assigned, pledged, encumbered, conveyed or transferred in <br />any manner, except as an appurtenance to his or her lot. <br /> <br /> Section 2.3 Additions to Property. The Declarant, its <br />successors and assigns, shall have the right, without the <br />consent of the Owners, to bring the Additional Property <br />within the scheme of this Declaration and any Amended or <br />Supplementary Declaration recorded in connection with such <br />addition; provided that the FHA and VA determine that the <br />annexation is in accord with the general plan of <br />development approved by them. Such addition may contain up <br />to 250 additional lots and 500 acres of additional Common <br /> <br />Northfork page 3 of 25 <br /> <br /> <br />