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<br />WHEREAS, the Property does not include any Shoreland, as that term is defined in <br />Minn. Stat. §103F.205. <br /> <br /> THEREFORE, Declarant hereby declares that this Declaration shall constitute <br />covenants to run with the Property described herein, and that the Property shall be owned, used, <br />occupied and conveyed subject to the covenants, restrictions, easements, charges and liens set <br />forth herein, which are for the purpose of protecting the value and desirability of and shall run <br />with the Property, and shall be binding upon all persons owning or acquiring any right, title or <br />interest in the Property, and their heirs, personal representatives, successors and assigns, and <br />shall inure to the benefit of each owner thereof. <br /> <br />SECTION 1 <br />DEFINITIONS <br /> <br /> The following words when used in the Governing Documents shall have the following <br />meanings (unless the context indicates otherwise): <br /> <br />1.1 shall mean and refer to any assessment for Common Expenses, <br />determined by the Board, and levied by the Association, pursuant to the <br />Governing Documents. <br /> <br />1.2 shall mean Peltier Estates <br />corporation which has been created pursuant to Chapter 317A of the laws of the <br />State of Minnesota. <br /> <br />1.3 shall mean the Board of Directors of the Association as provided for in <br />the By-Laws. <br /> <br />1.4 - shall mean the By-Laws governing the operation of the Association, <br />as amended from time to time. <br /> <br />1.5 shall mean the City of Centerville, a Minnesota municipal corporation. <br /> <br />1.6 shall be owned by the Association for the common benefit <br />of the Owners and Occupants. The Common Elements include that real property <br />identified as Common Elements on Exhibit A, attached hereto, and all <br />improvements located thereon, and are further described in Section 3.1, below. <br /> <br />1.7 shall mean and include all expenditures made or liabilities <br />incurred by or on behalf of the Association and incident to its operation, including <br />without limitation allocations to reserves and those items specifically identified as <br />Common Expenses in the Declaration or By-Laws. <br /> <br /> <br /> <br /> <br />_____ <br />2 <br />022818 <br /> <br />