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NON - REDLINE VERSION AM ENDED AND RESTATED DECLARATION OF COVENANTS'AND RESTRICTIONS' THIS AMENDED AND RESTATED DECLARATION is made as of'the__day ofFebruary'2005, by BOULDER SENIOR LIVING. LLC. A MINNESOTA LIMITED LIABILITY COMPANY (the "BORROWER''): WITNESSE'fi'H: WHEREAS, the BORROWER *is. the owner of certain realproperty located, in Ramsey.County, Minnesota, legally described on Exhibit A attached ht;reto and hereby made a. part here..of (the "PROPERTY"); and and WHEREAS, the BQRROWERhM constructed a 43 unit: housing development (the "PROJECT"') on the PROPERTY; WHEREAS, the: cost of constructing the PROJECT was finafted in part with the proceeds of the. $9,130;000 City of Gem. Lake, Minnesota Senior I-Tousing Revenue Bonds (Boulders Apartments Project), Series 2002A, the $250,000 City ofGem Lake, Minnesota Senior l•Iousing Revenue Bonds (Boulders Apartments Project), Series 2002E (the. ".BONDS'`.); and WHEREAS, :as a. condition to agreeing to issue the. BONDS, GEM LAKE required that the .BORROWER agree. to restrict the use and occupancy of the PROJECT: and. W H EREAS the Declaration contained certain covenottts:and restrictions which were intended to run with the Land and be hindin-: upon the BORROWER, its successors and assians;'and WHEREAS. pursuant to its terms, the. ORIGINAL .DECLARATION may be amended with the -written consent of the. BORROWER.: Gem Lake and the:City of White Sear Lake, Minnesota ("WBU% and WHEREAS, the: BORROWER executed and deliveredthat certain Declaration of.Covenants.and Restrictions,:dated April 2�). ?002; nmd .caused the same to be recorded , °?0.. ? in the office of the County Recorder of Ramsey County as Doetmictit No, __ (tlte "ORIGINAL DECLARATION');