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ROLLING HILLS <br /> <br />DECLARATION OF COVENANTS, CONDITIONS <br /> AND RESTRICTIONS <br /> <br />THIS DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS <br />(the "Declaration") is made and entered into as of this day of ,2000, by and <br />between Dragsten Properties("Developer) and Sherburne State Bank("Lender"), sometimes <br />collectively referred to hereinafter as the "Declarants". <br /> <br />Developer owns in fee simple that certain real property legally described as Rolling Hills, <br /> according to the plat thereof on file and of record in the Sherburne County Recorder's <br /> Office(the "Developer Property"). <br /> <br />The "Developer Property" is subject to the provisions of that certain Mortgage and Security <br /> Agreement made by Developer in favor of Lender dated ,2000, and <br /> recorded on ,2000, as Document No.~ in the Sherburne County <br /> Recorder's Office. <br /> <br /> C. It is now the intention and desire of the Declarants to protect the value and desirability of the <br /> Lots legally described above, and Declarants therefore submits the "Developer Property" <br />to <br /> <br />Do <br /> <br />the covenants, conditions and restrictions hereinafter set forth for the mutual benefit of the <br />record owners, whether one or more persons or entities, of a fee simple interest to any Lot <br />within the "Developer Property", including residence. <br /> <br />The Architectural Control Committee shall enforce the provisions of the covenant. The initial <br />members of the Architectural Control Committee shall serve, subject to the conditions <br />below, until all of the Lots in the "Developer Property" contain a complete residence. <br /> <br />The initial Architectural Control Committee shall have the following representation: <br /> <br />(1) Rodney Dragsten <br />(2) Peter VonBank <br />(3) Ann Dragsten <br /> <br /> <br />