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shall be null, void and of no further force or effect; the Subject Property shall be and is hereby <br />released from the lien and effect of the Declaration; and the Subject Property shall no longer be <br />subject to or benefited by the covenants, conditions, restrictions, easements, charges, liens, <br />rights, benefits or other terms and conditions provided for in the Declaration. <br />2. Applicability and Binding Effect. This Release is effective upon recording in the <br />applicable Anoka County recording office and shall be binding upon and inure to the benefit of <br />the owners of the Subject Property and their respective successors and assigns. Each party <br />hereby represents and warrants that it has the full and complete authority to enter into this <br />Release and the person executing this Release on behalf of said party has full and complete <br />authority to do so. Unless otherwise specifically set forth in this Release, all words and terms <br />used herein shall have the same meaning as set forth in the Declaration. <br />3. Severability; Controlling Law. The provisions of this Release shall be severable, <br />and in the event any provision hereof is declared unenforceable by a court of competent <br />jurisdiction, the remaining provisions shall remain in full force and effect. This Release shall be <br />interpreted, controlled, governed and construed in all respects by the laws of the State of <br />Minnesota. <br />4. Integration of Agreement. This Release constitutes the full and complete <br />understanding and agreement of the parties with respect to the matters contained herein, and <br />supersedes any prior understanding or agreement between the parties relating thereto. <br />5. Counterparts. This Release may be executed in several counterparts, each of <br />which will be deemed an original, but all of which will constitute one and the same agreement. <br />[Signature pages follow] <br />2 <br />3528485.v1 <br />3528485.v2 <br />