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7.1 General. The Property shall be owned, conveyed, encumbered, leased, used and occupied subject to the Governing Documents and the Act, as amended from time to time. All covenants, restrictions and obligations set forth in the Governing Documents are in furtherance of a plan for the Property, and shall run with the Property and be a burden and benefit to all Owners and Occupants and to any other Person acquiring or owning an interest in the Property, their heirs, personal representatives, successors and assigns. 7.2 Subdivision Prohibited. Except as permitted by this Declaration, no Unit nor any part of the Common Elements maybe subdivided or partitioned without the prior written approval of all Owners and all secured parties holding first mortgages on the Units. 7.3 Residential Use. The Units shall be used by Owners and Occupants and their guests exclusively as private, single family residential dwellings, -and not for transient, hotel, commercial, business or other non-residential purposes, except as provided in Section 7.4. Any lease of a Unit (except for occupancy by guests with the consent of the Owner) for a period of less than ninety days, or any occupancy which includes services customarily furnished to hotel guests, shall be presumed to be for transient purposes. The number of occupants per Unit may be restricted in accordance with any applicable municipal ordinances and standards acceptable under applicable federal and state law. 7.4 Business Use Restricted. No business, trade, occupation or profession of any kind, whether carried on for profit or otherwise, shall be conducted, maintained or permitted in any Unit or the Common Elements, except: 7.4.1 An Owner or Occupant may maintain a home occupation in such Owner or Occupant's Dwelling; provided, that such use (i) is incidental to the residential use; (ii) does not involve physical alteration of the Dwelling or Unit visible from the exterior; (iii) is in compliance with all governmental laws, ordinances and regulations; (iv) does not involve observable business activity such as signs, advertising displays, unusual numbers of deliveries, or unusual levels of pedestrian or vehicular traffic to and from the Unit; (v) does not involve employees; and (vi) does not otherwise involve activity which disturbs the quiet enjoyment of the Property by other Owners or Occupants. 7.4.2 The Association may maintain offices on the Property for management and related purposes. 7.5 Leasine. The Property is intended to be an Owner occupied residential community. Consistent with that philosophy, leasing of Units shall be allowed (subject to reasonable regulation by the Association), but only in accordance with the following minimum conditions: (i) no Unit shall be leased for transient or hotel purposes, (ii) no Unit may be subleased, (iii) a Unit must be leased in its entirety (not by room) unless simultaneously occupied by the Owner, (iv) the lease shall be in writing, (v) unless 12