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WHEREAS, this Amended DeclarationofCovenants and Restric#ions(the"AMENDEDDECLARATION'. shall sunersedeand terminate the ORIGINAL DECLARATION: WHEREAS, in .order to satisfy the requirements of GaM LAKE, the BORROWER has executed this D-��oi " MENDED DECLARATION, and WHEREAS, the BORROWER, with the written consenfof Gem ke.and .WBL, evidenced by their execution of this certificate. proposes.to amend the Declaration as provided herein. NOW, THEREFORE, subject to the conditions set forth herein, the BORROWER floes hereby impose upon the PROPERTY the folloWhigeovenants and restrictions which shall be covenants running witli the land and shall be binding upon. the BORROWER; its successors and assigns,.and shall inure solely to the.beneftt.o.f GEM LAKE and the Eitt of him Bear beke; A: The BORROWER represen ts, covenaptsandagrees that, to the extent perm issible under the federal Fair Housing. Act. and Minnesota -law, the PROJECT will: be. designed. and used::.: fYli ig the`:term.:of;this:;AMENDED'pECL;ARATI.0 1`: ' eXClus eljs'as' a.senior '..h.o ing:........ :.PROD CI •for.::accupanc"y by lmuse holds:in:wHich at::leasf.onaaccupant:is a e:55':yeamoelblda. rtti ll>e:event:the::forin.oCownersiiip of:the.PROI CTis`conyertedto:acommou:mteresfcouiriiunity;:BORROWER-maysatisfyth&foreaoin ceguiremenf:by iiitlut3in>x`in.:-the:documents:`esfaliIisl...... ;the:.coynmop:'i i#eras#':ei ir►itiuoitV'•:uroyisipris rcauiring_that;ao:ahe':'extent°per."missible'.under:.t e'fMeral Fair:Housing Act:and Minnesota law;':units. in: the BROT. JEC .tie oeau,pied:bv=householdssn::which-at <ieast:one of the occupants'is gee 59,arld ai�dtrr: B. The term ofthis.AMENDEDDEC:LARATION shall extend froinOtte date4ereo4of the ORiG INAL DECLARATION fora:period'9P35 years, During fate term of thi9►MENDED DECLARATION the BORROWER, so long:as the Bonds are not citAstanding, ntayrequest the modification.to aaUrniination of this AMENDED D:F CLARATI.QN and. demonstrate..thatAe: of0ditiieation or terinination of this AMENDED DECLARATION. is necessary to. ensure the @tonomic viability of the PROJECT which modification or temination is subject to the written approval of GEM LAKE and, Wal,; which appro.val'maybe.granted orwithheld•.in the -sole discretion of GEM LAKE and WBL. C. In the -event that the BORROWER:(or-phy entlty succeeding to the interest of the. BORROWER hereunder) shall default in its performance -or Qbservance of any covenant,.agreement or restriction •sea f6rth herein and:such .default shall remain uncured fora period of -thirty (30) days. aftentotire thereof shall have been given