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<br />NOW, THEREFORE, in consideration of the premises, the Declarant hereby declares that the real <br />property described on Exhibit "A" shall be held, transferred, sold, conveyed and occupied subject <br />to the conditions, restrictions, easements, charges and liens hereinafter set forth, which covenants, <br />restrictions and easements shall run with the real property described on Exhibit "A" and be <br />binding on all parties having any right, title, interest in the hereinafter described properties or any <br />part thereof, their heirs, successors and assigns, and shall inure to the benefit of each Owner <br />thereof. <br /> <br />ARTICLE I <br /> <br />Definitions <br /> <br />I. 1 Definitions The following words, when used in this Declaration, shall have the <br />following meanings: <br /> <br />(a) "Declarant" shall mean and refer to Richard S. Carlson and Associates, a <br />L.L.P. organized and existing under the laws of the State of Minnesota, its successors and <br />assigns. <br /> <br />(b) "Developer" shall mean and refer to the Declarant. <br /> <br />(c) "Development Agreement" shall mean and refer to the Development <br />Agreement between the Declarant and the City of Centerville as the same may be amended <br />or modified by the City of Centerville from time to time. <br /> <br />(d) "Living Unit" shall mean and refer to a residential housing unit consisting of a <br />group of rooms and hallways and attached garage which are designed and intended for use <br />as living quarters for one family and located or to be located upon one Lot. <br /> <br />(e) ~ shall mean and refer to any tract or parcel of land designated as a Lot <br />shown upon any recorded plat or subdivision map of the Property with the exception of <br />any tracts or parcels designated as Outlots. <br /> <br />(f) "Mortgage" shall mean refer to any mortgage or other security instrument by <br />which a Lot, or any part thereof, or any structure thereon, is encumbered. <br /> <br />(g) "Mortgagee" shall mean any person or entity named as the mortgagee under <br />any Mortgage, or any successors or assigns to the interest of such person or entity under a <br />M?rtgage. <br /> <br />(h) "Owner" shall mean and refer to the record Owner, whether one or more <br />persons or entities, of a fee simple title to any Lot (excluding, however, contract sellers <br />and including in place thereof their contract purchasers) and excluding any person having <br />such interest merely as security for the performance of an obligation. <br /> <br />(i) "Private Driveway" shall mean and refer to access driveways from public <br />streets to the Living Unit. <br /> <br />2 <br />