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<br />EXHIBIT H <br /> <br />DECLARATION OF RESTRICTIVE COVENANTS <br />AND PROHIBITION AGAINST TAX EXEMPTION <br /> <br />Tills Declaration is made and executed as of the _ day of <br />Roseville Twin Lakes, LLC, a Minnesota limited liability company ("Declarant"). <br /> <br />, 200_ by <br /> <br />RECITALS <br /> <br />A. Declarant is fee owner of the premises located in the County of Ramsey, State of <br />Minnesota described on Exhibit A attached hereto (the "Property"). <br /> <br />B. The City of Roseville, Minnesota, a municipal corporation (the "City") has <br />entered into a Contract for Private Redevelopment dated as of September 9, 2005 with the <br />Declarant (the "'Redevelopment Agreement"). The Redevelopment Agreement provides for <br />certain assistance, financial and otherwise, to be provided by the City in connection with the <br />construction oftownhomes by the Declarant on the Property. <br /> <br />NOW, THEREFORE, in consideration of the foregoing, Declarant, for itself and its <br />successors and assigns, does hereby declare that the Property shall be owned, used, occupied, <br />sold and conveyed subject to the following covenants arid restrictions: <br /> <br />1. No part of the Property shall become tax exempt from the levy of ad valorem <br />property taxes, or any statutorily authorized alternative, until December 31, 20_. <br /> <br />2. The covenants and restrictions herein contained shall run with the title to the <br />Property and shall be binding upon all present and future owners and occupants of the Property; <br />provided, however, that the covenants and restrictions herein contained shall inure only to the <br />benefit of the City and may be released or waived in whole or in part at any time, and from time <br />to time, by the sole act of the City, and variances may be granted to the covenants and restrictions <br />herein contained by the sole act of the City. These covenants and restrictions shall be <br />enforceable only by the City, and only the City shall have the right to sue for and obtain an <br />injunction, prohibitive or mandatory, to prevent the breach of the covenants and restrictions <br />herein contained, or to enforce the performance or observance thereof. <br /> <br />3. The covenants and restrictions herein contained shall remam ill effect until <br />December 31, 20_ and thereafter shall be null and void. <br /> <br />4. If anyone or more of the covenants or restrictions contained in this Declaration <br />are held to be invalid or enforceable, the same shall in no way affect any of the other provisions <br />of this Declaration, which shall remain in full force and effect. <br /> <br />55 <br />