Declaration of Covenants, Conditions, and Restrictions

Declaration of Covenants, Conditions, and Restrictions

as Amended

This Declaration, made on the date hereinafter set forth by Sherwood Forest Owner's Association, hereinafter referred to as "Declarant."

Witnesseth:

Whereas, declarant is the fee owner of certain real property in Aitkin County, State of Minnesota, described as:

All of the lots, outlots and tracts within the plat of Nottingham Town, according to the plat thereof recorded as document number 196542, December 28, 1977, in the office or the Register of Deeds for said county; and,

All of the lots, outlots and tracts within the plant of Canterbury Town, according to the plat thereof recorded as document number 204508, October 17, 1979, in the office of the Register of Deeds for said county; and,

All of the lots, outlots and tracts within the plat of Banbury Town, according to the plat thereof recorded as document number 209076, October 16, 1980, in the office of the Register of Deeds for said county; and,

All of the lots, outlots and tracts within the plat of Cannock Chase, according to the plat thereof recorded as document number 210686, February 24, 1981, in the office of the Register of Deeds for said county; and,

All of the lots, outlots and tracts within the plat of Derby Town, according to the plat thereof recorded as document number 211377, April 24, 1981, in the office of the Register of Deeds for said county; and,

All of the lots, outlots and tracts within the plat of London Town, according to the plat thereof recorded as document number 212524, July 15, 1981, in the office of the Register of Deeds for said county; and,

All the lots, outlots and tracts within the plat of York Town, according to the plat thereof recorded as document number 212525, July 15, 1981, in the office of the County Recorder for said county; and,

Declarant hereby declares that the above described property is and shall be held and conveyed upon and subject to the restrictions, covenants, conditions, reservations, easements, liens and charges hereinafter set forth. No property other than that described about shall be deemed subject to this Declaration unless and until specifically made subject thereto. Declarant, or other successors or assigns, may from time to time subject additional real property owned by them to the restrictions, covenants, conditions, reservations, easements, liens and charges herein set forth by appropriate reference hereto.

Article I

General Purpose of Conditions

This property is being subject by this Declaration to the restrictions, covenants, conditions, reservations, easements, liens and charges hereby declared to insure the best use and the most appropriate development of each campstead thereof; to protect the owners of sites against such improper use of surrounding sites as will depreciate the value of their property; to preserve, so far as practicable, the natural beauty of said property; to guard against the erection of environmentally undesirable structures and structures built of improper or unsuitable materials; to prevent haphazard and inharmonious development of campsteads; to provide adequate free spaces between campsteads; and in general to provide for perpetual preservation of said property in the most natural and wild state possible, and thereby to enhance the value of investments made by purchasers of lots thereon.

Article II

Definitions

Section 1.: "Association" shall mean and refer to Sherwood Forest Owner's Association Inc., a Minnesota non-profit corporation, to be hereafter incorporated, its successors and assigns.

Section 2.: "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any lot which is part of the Properties, including the Developer or contract sellers and venders, but excluding those having such interest merely as security for the performance of an obligation, and excluding those have a lien upon the property by provision or operation of law.

Section 3.: "Properties" shall mean and refer to that certain real property hereinbefore described, and such additions thereto as may hereinafter be brought within the jurisdiction of the Association.

Section 4.: "Common Area" shall mean (i) outlots A, C, D, E, F, G, and H, Nottingham Town, according to the plat thereof recorded in Aitkin County, Minnesota; or (ii) any area hereafter designated as a common area in a Supplementary Declaration to this Declaration pursuant to the terms and conditions of Article XI and Article XII Subdivision 4, hereof; or (iii) all real property now or hereafter owned by the Association for the common use and enjoyment of the Owners.

Section 5.: "Lot" shall mean and refer to any plot of land shown in any recorded plat of the Properties, other than the Common Area.

Section 6.: "Developer" shall mean and refer to Sherwood Forest, Inc., its successors and assigns if such successors or assigns should acquire more than one lot from the Developer for the purpose of resale.

Section 7.: "Board of Directors" shall mean and refer to the Board of Directors of the Association as further described in the articles of incorporation and By-Laws of said Association.

Section 8.: The "Environmental Planning Committee" shall mean the committee described in Article VI hereof and further described in the By-Laws of the Association.

Article III

Membership and Voting Rights in Association

Section 1.: Every owner of a lot which is subject to assessment shall be a member of the Association. Membership shall be appurtenant to and may not be separated from ownership of any lot which is subject to assessment.

Section 2.: The Association shall have two classes of voting membership:

Class A: Class A member(s) shall be all Owners with the exception of the Developer and shall be entitled to one vote for each Lot owned. When more than one person holds an interest in any Lot, all such person shall be members. The vote for such lot shall be exercised as they among themselves determine, but in no event shall more than one vote be cast with respect to any Lot.

Class B: Class B member(s) shall be the Developer and shall be entitled to one(1) vote for each lot owned by it. The Class B membership shall cease and be converted to Class A membership when at least ninety percent (90%) of the Lots are owned by someone other than the Developer.

Article IV

Property Rights

Section 1.: Owner's Easements of Enjoyment. Every Owner shall have an easement for ingress and egress over the Common Area and Outlot B and an easement for enjoyment in and to the Common Area which shall be appurtenant to and shall pass with the title to every Lot, subject to the following provisions:

(a) The right of the Association to charge reasonable admission and other fees for the use of

any recreational facility situated upon the Common Area;

(b) The right of the Association to suspend the voting rights and right to use of the facilities

by an Owner for any period during which any assessment against his lot remains unpaid,

and for a period not to exceed 60 days for any infraction of its published Rules and

Regulations; provided however, that any Owner so suspended shall be sent written

notification of such suspension prior to the effective date of such suspension and, shall

within 10 days of the effective date of such suspension, have an opportunity for a public

hearing before the Board of Directors or the Environmental Planning Committee;

provided that, such written notice by the Association shall be deemed to be effective and

timely given if deposited in the regular United States Mail, postage prepaid, addressed to

such Owner at the last such address of which the Association had been notified by such

such owner; and further provided that, an owner's right of ingress and egress to and from

his Lot may not be suspended;

any public agency, authority, or utility for such purposes and subject to such conditions as

agreed to by the members. No such dedication or transfer shall be effective unless an

instrument signed by Owners constituting fifty-one (51%) of each class of members

agreeing to such dedication or transfer has been recorded.

Section 2: Delegation of Use. Any Owner may delegate, in accordance with the By-laws, his right of enjoyment to the Common Area and facilities to the members of his family, his tenants, guests, or contract purchasers who use the property.

Article V

Building and Use Restrictions

Section 1.: Campstead Use. No Lot shall be used except as a recreational campstead for use by a single family, except that the Developer may use campsteads for model and sales purposes, but may not, in so doing, erect any permanent structure thereon inconsistent with campstead use.

Section 2.: Easements for Utilities and Roads. The Developer and the Association reserve the right to construct, maintain and replace or authorize the construction, maintenance and replacement of utilities over, under and across the rear 5 feet of each lot, the side 5 feet of each side of each Lot, and the Common Area (except that no easement or right will be granted in such a way as to interfere with any improvement on the Common Area) and to make all necessary cuts or fills upon the Lots to locate the roads and trails as shown upon any plat of the Properties.

Section 3.: Private Wells. No private domestic water well shall be permitted on any Lot. Each Owner shall have the right, with other Owners, to use water supplies available on the Common Area.

Section 4.: Sewage Systems.

(a) No individual sewage disposal system shall be permitted on any Lot.

(b) The Developer reserves the right to construct and maintain septic systems including

holding tanks and drainage fields on the Common Area.

Section 5.: Limitation on Clearance. No area on any given Lot shall be cleared except in conformity with all applicable Rules and Regulations (as defined in Article V, Section 17 hereof).

Section 6.: Building Restrictions. No building or structure over 36 inches in height shall be placed on any Lot except for:

(a) Storage box structure which must be constructed of natural wood and finished in natural

wood color no larger than 42" mean height X 48" X 72".

(b) Fences, which must be in natural wood color, contain at least 80% open surface area and

be of ranch style design.

the Environmental Planning Committee.

(d) Plans and specifications for such permitted structures must be approved prior to

construction by the Environmental Planning Committee pursuant to Article VI hereof.

Construction of permitted structures shall comply with all applicable laws, rules and

regulations of the city, county, state and federal governments, including, without

limitation, all applicable provisions of the ordinances of Aitkin County. Once construction

of permitted structures is started on any lot, the structure must be substantially completed

as approved within one (1) month of the commencement date.

Section 7.: Concrete Paving. Concrete paving on each Lot shall be limited to 600 square feet; provided that no such concrete area on any given Lot shall measure more than 45 feet in any one directions, and further provided that no material other than concrete shall be used in constructing such paving areas without the prior consent of the Environmental Planning Committee.

Section 8.: Removing Trees. No live trees over three inches in diameter on any Lot shall be cut down or otherwise damaged or destroyed without the approval of the Board of Directors of the Environmental Planning Committee. Further, no live trees or natural growth of any size or kind shall be cut down or otherwise damaged or destroyed within the setback areas of any campsite without the approval of the Board of Directors or the Environmental Planning Committee.

Section 9.: Nuisance. No obnoxious or offensive activities shall be conducted on any Lot, nor shall anything be done thereon which may be or become an annoyance or nuisance to other Owners or to the Association. The use of outdoor clothes poles, clothes lines, and similar equipment is prohibited.

Section 10.: Signs. No sign of any kind, including "For Sale" or "For Rent" signs, shall be displayed to the public view on any Lot without prior written approval of the Board of Directors or the Environmental Planning Committee. In no event shall "For Sale" or "For Rent" signs be displayed to the public view by Owners other than Developer of any Lot within a plat so long as the Developer owns any Lots within said plat.

Section 11.: Pets. No horses, birds, animals or insects shall be kept on any Lot except dogs, cats and other common household pets, provided that they are not kept, bred or maintained for any commercial purposes, and provided that they may not be kept or quartered on any Lot except when the Owner of such Lot is occupying the same, and further provided that such pets must be constantly under the effective control of their owners , and that each Owner shall comply in every respect with any provision contained in the Rules and Regulations which deal with the subject of pets.

Section 12.: Garbage and Refuse Disposal. No Lot shall be used or maintained as a dumping ground for rubbish, refuse, garbage or other waste matter. Rubbish, refuse, garbage or other waste matter shall be kept only in sanitary containers, which shall be fastened in a manner approved by the Board of Directors or Environmental Planning Committee, which shall be kept in a clean and sanitary condition, which shall be approved before installation or use by the Board of Directors or the Environmental Planning Committee, and which shall be emptied by the Owner anytime his lot is vacated.

Section 13.: Excavation. No Owner, other than the Developer, shall effect or cause to be effected any excavating, digging, tunneling, or other subsurface activity on any Lot without the prior consent of the Board of Directors or the Environmental Planning Committee.

Section 14.: Setback Restrictions. No building or structural equipment, or recreational or other vehicle, shall be constructed, placed or maintained nearer than fifteen (15) feet from the from line, ten (10) feet from the rear line and five (5) feet from the side line of each campstead.

Section 15.: Storage. No horse trailers, boat trailers, boats, snowmobiles, trail bikes, automobiles or other motorized or unmotorized vehicles which do no usually contain sleeping facilities may be stored upon any Lot for more than five (5) consecutive days without prior approval of the Board of Directors or the Environmental Planning Committee. Motorized or unmotorized vehicles which do usually contain sleeping facilities must be removed from the properties within thirty (30) days of the closing of the camping season, except as otherwise authorized by the Board of Directors or Environmental Planning Committee. No outside storage shall be permitted unless the item stored is screened from view by enclosures approved by the Board of Directors or Environmental Planning Committee.

Section 16.: Rules and Regulations. The Board of Directors or the Environmental Planning Committee, if so authorized by the Board of Directors, shall, from time to time adopt, and the Owners hereby agree to comply with, such rules and regulations ("Rules and Regulations") governing the opening and closing of the camping season and the use and enjoyment of the Common Areas and Lots as the Board of Directors (or the Environmental Planning Committee) in its sole discretion deems appropriate or necessary to the preservation, orderly administration and enjoyment thereof.

Article VI

Environmental Planning

No building, fence, wall, light fixture, or other structure shall be commenced, erected, or maintained upon any Lot until the plans and specifications therefore showing the nature, kind, shape, height, materials, and locations of the same shall have been submitted to and approved in writing as to harmony of external design and location in relation to surrounding structures and topography by the Board of Directors of the Association, or by an Environmental Planning Committee composed of three (3) or more representatives appointed by the Board of Directors, nor shall any portion of any Lot be cleared for a campstead until such Board of Directors or Environmental Planning Committee has approved such site as to location upon the Lot and set-back for Lot lines. In the event said Board, or its designated committee, fails to approve or disapprove such design and location within thirty (30) days after said plans and specifications or proposal for campstead have been submitted to it, such approval will not be required and this Article will be deemed to have been fully complied with. Nothing in this Article shall permit any thing or structure not permitted by Article V of this declaration.

Article VII

Covenant for Maintenance Assessments

Section 1.: Creation of the Lien and Personal Obligation of Assessments. The Developer, for each Lot owned within the Properties, hereby covenants, and each Owner of any Lot by acceptance of a deed therefore, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association:

(1) annual assessments or charges, and

(2) special assessments for capital improvements, such assessments to be established and

collected as hereinafter provided. The annual and special assessments, together with

interest, costs, and reasonable attorney's fees incurred in collecting the same, shall be

a charge on the land and shall be a continuing lien upon the property against which each

such assessment is made. Each such assessment, together with interest, costs, and

reasonable attorney's fees, shall also be the personal obligation of the person who was

the Owner of such property at the time when the assessments fell due. The personal

obligation for delinquent assessments shall not pass to his successor in title unless

expressly assumed by any such successors.

Section 2.: Purpose of Assessments. The assessments levied by the Association shall be used exclusively to promote the recreational health, safety, and welfare of the residents in the Properties and for the improvement and maintenance of the Common Area including a reasonable reserve for depreciation of Common Area assets.

Section 3.: Maximum Annual Assessment. There will be no annual assessment on any Lot in any recorded plat of the Properties until April 1 of the next year immediately following the conveyance of the first Lot in the plat to an Owner.

(a) During the first year immediately following the conveyance of the first Lot to an

Owner, the maximum annual assessment on each Lot shall be Seventy Two Dollars

($72.00).

(b) From and after April 1 of the second consecutive year immediately following

the conveyance of the first Lot to an Owner, the maximum annual assessment may be

increased each year not more than 10 percent above the maximum assessment for

for the previous year without a vote of the membership.

the conveyance of the first Lot to any Owner, the maximum annual assessment may be

increased in excess of the 10% maximum provided in subsection (b) of this Section 3,

only by a vote of fifty one percent (51%) of the votes of each class of members who

are in person or by proxy, at the meeting duly called for this purpose.

(d) The annual assessment in any given year on each Lot owned by the Developer shall be

equal to the annual assessment in the same year on a Lot owned by an Owner other than

the Developer.

(e) The Board of Directors may fix the annual assessment at an amount not in excess of the

maximum amount computed from time to time in accordance with the terms hereof.

(f) For purposes of computing the maximum annual assessment in accordance with this

Section, charges by the Association for electrical and other utility services to any lots shall

be included.

Section 4.: Special Assessment for Capital Improvements. In addition to the annual assessments authorized above, the Association, upon approval of its Board of Directors, may levy, in any assessment year, a special assessment applicable to that year only or over an extended period of years, for the purpose of defraying, in whole or in part, the cost of any constructions, re-constructions, repair or replacement of a capital improvement upon the Common Area, including fixtures and personal property related thereto, provided that any such assessment in excess of the aggregate amount of $10.00 per Lot owned by any Owner other than the Developer, in any given calendar year, shall have the consent of fifty-one percent (51%) of the votes of each class of members who are voting in person or by proxy at a meeting duly called for this purpose.

Section 5.: Notice and Quorum for Any action authorized Under Section 3 and 4. Written notice of any meeting called for the purpose of taking any action authorized under Section 3 or 4 of this Article VII, stating the time, place and purpose of each such meeting, shall be sent to all members at the last such address as provided in writing to the Association by each such member, by depositing the same in the regular United States mail, postage prepaid, not less that 10 days nor more that 60 days in advance of the meeting. At the first such meeting called, the presence of members or proxies entitled to cast twenty-five (25%) of all the votes of each class of membership shall constitute a quorum. If the required quorum is not present, another meeting may be called subject to the same notice requirement, and the required quorum at the subsequent meeting shall be one-half (1/2) of the required quorum at the preceding meeting. No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.

Section 6.: Uniform Rate of Assessment. Both annual and special assessments must be fixed separately for each recorded plat of the Properties at a uniform rate for all Lots in that plat and may be collected on a monthly, quarterly or annual basis, as determined from time to time, provided that there shall be an annual or special assessments on Lots by the Association.

Section 7.: Date of Commencement of Annual Assessments. Due Dates. The annual assessments provided for herein shall commence as to all lots in any recorded plat of the Properties on April first of the next year immediately following the conveyance of the first Lot in that plat. The Board of Directors shall fix the amount of the annual assessments against the Lots in each recorded plat of the properties at least thirty (30) days in advance of April 1 of each year. Written notice of the annual assessment shall be sent to every Owner subject thereto. The due dates shall be established by the Board of Directors. The Association shall, upon demand, and for a reasonable charge, furnish a certificate signed by an officer of the Association setting forth whether the assessments on a specified Lot have been paid.

Section 8.: Effect of Nonpayment of Assessments, Remedies of the Association. Any assessment not paid within ninety (90) days after the due date shall bear interest at an annual rate of eight percent (8%) upon all such unpaid assessments for said due date. The association may bring an action at law against the Owner personally obligated to pay the same, or foreclose the lien against the property in the manner provided for foreclosure of a mortgage. No owner may waive or otherwise escape liability for the assessments provided for herein by non-use of the Common Area or abandonment of his Lot.

Section 9.: Subordination of the Lien to Mortgages. The lien of the assessments provided for in this Declaration shall be subordinate to the lien of any first Mortgage. Sale or transfer of any

Lot shall not affect the assessment lien. However, upon sale or transfer of any Lot pursuant to any proceeding in lieu of foreclosure, or upon the expiration of any period of redemption following the sale of any Lot pursuant to foreclosure, the lien of any such assessments as to payment which became due prior thereto, shall be extinguished, provided that, such Lot shall not be thereby relieved from liability for any assessments thereafter becoming due or from the lien thereof.

Article VIII

Maintenance and Insurance

Section 1.: Common Area Maintenance. The Association shall maintain the Common Area, including utilities on the Common Area, in good condition and repair and in a neat and orderly condition, and shall maintain hazard and liability insurance as required by the By-laws. In the event of partial or complete damage to or destruction of any amenity now or hereafter located on the Common Area, the Association shall repair or rebuild such amenity, provided however, that, in the event insurance proceeds are inadequate to cover the cost of such repair or rebuilding, all such cost in excess of insurance proceeds shall be assessed against the Owners as a special assessment, in the manner and in the proportions provided in Sections 4 and 6 of Article VII hereof. In no event shall the Association or the Developer be held personally liable for any such costs of repairing or rebuilding such amenities, provided, however, the Developer shall be personally liable for the portion of such costs levied as a special assessment against Lots owned by it. In the event excess insurance proceeds remain after paying all costs of repairing or rebuilding such amenities, such excess insurance proceeds shall be first applied by the Association to reduce all outstanding indebtedness, if any, secured by a mortgage in the Common Area, and then to the reduction of annual and special assessments.

Section 2.: Additional Common Area Maintenance. If, in the opinion of the Board of Directors of the Association, the need for maintenance or repair of the Common Area is caused by the willful or negligent act of an Owner, his family, guests or invitees, the cost of such maintenance or repair shall be added to and become a part of the assessment to which such Owner's Lot is subject, but nothing herein shall modify or abridge any applicable waiver of subrogation.

Section 3.: Additional Lot Maintenance. Each Owner of a Lot shall maintain his grounds and the improvements thereon in a neat and orderly manner so that it is not unsightly or unpleasant. If he does not do so, the Association may do so, and the cost of so doing shall be added to and become a part of the assessment to which such Owner's Lot is subject.

Section 4.: Access at Reasonable Hours. For the purpose of performing the provisions of Section 3 of this Article, the Association shall have the right, after reasonable notice to the Owner, through its duly authorized agents and employees, to enter upon any Lot at reasonable hours on any date.

Section 5.: Waiver of Subrogation. The extent permitted by the standard Minnesota form of fire and extended coverage insurance and to the extent benefits are paid under such a policy, each Owner and the Association do hereby mutually release each from the other, and their respective officers, agents, employees and invitees, from all claims from damage or destruction of their respective physical properties if such damage or destruction results from one or more of the perils covered by the standard Minnesota form of fire and extended coverage insurance.

Article IX

Conveyance of Common Areas

Section 1.: Conveyance of Common Areas. When more than ninety percent (90%) of the Lots within Blocks 1, 2, 3, 4, 5, 6, and 7 of Nottingham Town according to the recorded plat thereof, have been sold by the Developer, or at such earlier time as the Developer may elect, the Developer shall convey and the Association shall accept Outlots A, C, D, E, F, G, and H as shown in such plat to the Association as the Common Area. If, by the time of such conveyance, the Developer has not completed its development of such Common Area, it shall have the right to complete such development, and to go upon and across such Lots for the purposes of making such development, but all development by the Developer, except that done pursuant to a vote of members authorizing a special assessment as foresaid, shall be done at the sole cost and expense of Developer. It is hereby agreed that maintenance of the amenities on the Common Area, upon completion thereof, shall be the responsibility of the Association regardless of whether or not title to such Common Area has then been transferred by the Developer to the Association.

Section 2.: Conveyance of Common Area in Subsequent Subdivisions. When more than ninety percent (90%) of the Lots within any annexed areas included within the Total Sherwood Forest Potential Area (as defined in Article XI hereof) have been sold by the Developer, or at such earlier time as the Developer may determine, the Common Area, if any, included within such annexed area shall be conveyed to the Association. Notwithstanding any such conveyance, however, the Developer shall have the rights of development stated in Section 1 of this Article.

Article X

Developer to Exercise Powers

Until the Association is operational and the initial Common Area is conveyed to it, all the duties and powers of the Association, Board of Directors or Environmental Planning Committee, as herein provided shall vest in and remain with the Developer.

Article XI

Additions to Properties

It is agreed that notwithstanding anything to the contrary herein contained, the Developer may, but need not, in its sole discretion, from time to time hereafter add additional portions of the area described in Exhibit A, attached hereto (herein called "Total Sherwood Forest Potential Area"), to the Properties then subject to the jurisdiction of the Association and in which Owners are entitled to be and must be members of the Association, and in that event all of the terms and provisions of this Declaration shall apply to the property so added and to the Owners of Lots within said property. And Owners is such areas shall thereafter become members of the Association with votes and subject to assessments as herein provided. In the event Developer elects to add additional properties from the Total Sherwood Forest Potential Area to the Properties then covered by this Declaration, said annexation shall be consummated by the recording of a Supplementary Declaration. Said Supplementary Declaration shall contain, but not be limited to, the legal description of the property which is to be added and facts, if any, therein designated as Common Areas. The property conveyed therein shall be subject to all the terms, provisions and conditions of this original Declaration. In connection with such annexation, Developer may convey to the Association additional Common Area. The Owners shall have the same rights in any such Common Areas as they have in the Common Area described in this Declaration and each owner of any lot covered by a Supplementary Declaration, if any, pursuant to either Article XI or Section 4 of Article XII hereof, shall have equal rights and benefits in all Common Areas as the rights and benefits afforded hereunder to the Owners of Lots in the Common Area. The assessments levied pursuant hereto may be used not only for the Common Area specifically described in this Declaration but also in any such additional Common Areas as Developer from time to time may convey or convey right in, to the Association, and similarly the assessments levied against Lots in property annexed hereto may be used for all the Common Areas in the Properties; provided, however, that special assessments must be assessed on a uniform basis upon all Lots from time to time included within the Properties.

Article XII

General Provisions

Section 1.: Enforcement. The Association, or any Owner, shall have the right to enforce, by any proceeding at law or in equity, or both, all restrictions, conditions, covenants, reservations, liens and charges now or hereafter imposed by the provisions of the Declaration. Failure by the Association or by any Owner to enforce any covenant or restriction herein contained shall in not event be deemed a waiver of the right to do so thereafter.

Section 2.: Severability. Invalidation of any one of these covenants or restrictions by judgment or court order shall in no wise affect any other provisions which shall remain in full force and effect.

Section 3.: Amendment. The covenants and restrictions of this Declaration shall run with and bind the land, for a term of thirty (30) years from the date this Declaration is recorded, after which time they shall be automatically extended for successive periods of ten (10) years. The Declaration may be amended by an instrument signed by members owning not less than fifty-one percent (51%) of the Lots; provided, however, that during such times as any bond required by the State of Minnesota, to assure completion of any Common Area improvements or amenities remains undischarged, this Declaration may not be amended without the consent of the Developer if the amendment would result in the bonded Common Area improvement for amenities being altered in any way. Sections 3 and 4 of Article V may not be amended. Without the unanimous consent of all Lot Owners, no action may be taken by the Association on any amendment to this Declaration for the purpose of partitioning the Common Areas to otherwise apportioning interests in the Common Areas. Any amendment must be recorded.

Section 4.: Annexation. Additional property and Common Area not included within the Total Sherwood Forest Potential Area may be annexed to the Properties with the consent of the Owners of fifty-one percent (51%) of the Lots (other than Lots owned by the Developer) being voted in person or by proxy in connection with such annexation.

By a special amendment in 1977, the following paragraph has been added to the declaration:

Any and all control of the developer herein, Sherwood Forest, Inc., as set forth in these covenants or otherwise, shall be relinquished by the developer within three (3) years from the date of the first sale of lots in the development, or when 30% of the lots are sold, whichever occurs first.