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6. Invalidation. Invalidation of anyone of the covenants of this Indenture shall in no way affect any other provision hereof.
7. Assignment bv First Party. The rights, powers and obligations granted to First Party may be assigned or transferred by First Party, in whole or in part, to any other person or entity or persons or entities to whom First Party sells, transfers or assigns all or any of the Lots in the Property.
8. Rights During Construction and Sale. Notwithstanding any provision contained in this Indenture to the contrary, until all Lots authorized by the Ordinance to be developed in the Property have been sold and conveyed for residential use, First Party and
its successors and assigns shall have the right and privilege (i) to erect and maintain advertising signs, sales flags and other sales devices and banners for the purpose of aiding the sale of Lots and residences in the Property, and (ii) to maintain sales, business and construction offices in display homes or trailers on the Property (including, without limitation, the Common Ground) to facilitate the completion of development of the Subdivision and construction and sale of residences and improvements on the Property. First Party's construction activities shall not be considered a nuisance, and
First Party hereby reserves the right and privilege for itself and its successors and assigns to conduct the activities enumerated in this Section until all Lots in the Property have been sold and conveyed for residential purposes. The provisions of this,. Article X, Section 8, shall not be amended, modified or deleted without the prior written consent of First Party.
9. Use of Common Areas bv Non-Residents. The common areas, including open spaces, recreational areas, or other Common Property, shall be for the benefit, use and enjoyment of the Owners and residents, present and future, of the entire Planned Environment unit. The Common Property may also be used by residents outside the Planned Environment Unit, subject to the following terms and limitations:
(i) No resident of the Planned Environment Unit shall be denied the use of the open spaces, recreational facilities, or other Common Property for any reason related to the extension of such privilege to non-residents of the Planned Environment Unit;
(ii) All rules and regulations promulgated pursuant to this Indenture with respect to residents of the Planned Environment unit shall be applied equally to the residents;
(iii) All rules and regulations promulgated pursuant to this Indenture with respect to non-residents of the Planned Environment Unit shall be applied equally to the nonresidents; and
(iv) At any time after the recording of this Indenture, a majority of the residents of the Planned Environment Unit by election duly called, may elect to allow or disallow usage
of the open space, recreational facilities or other Common Property by non-residents of the Planned Environment Unit.
10. Term. Except where permanent easements or other permanent rights or interests are herein created, the covenants and restrictions of this Indenture shall run with and bind the Property for a term which is the longer of: (i) thirty (30) years from the date of recordation of this Indenture, after which said covenants and restrictions shall be automatically extended for successive periods of ten (10) years each, unless an instrument signed by the then Owners of two-thirds (2/3) of the Lots subject hereto has been recorded agreeing to terminate this Indenture as of the end of any such ten (10)
year period, but in no event prior to the vacation of all plats of the Property constituting a portion of the Planned Environment Unit by the city council of the city of Chesterfield, Missouri, or its successors; or (ii) as to any subdivision of the Property, for the duration of the subdivision encumbered hereby unless continued in effect by the vote of two-thirds (2/3) of the Lots in such subdivision by an appropriate instrument filed of record prior to the vacation of the plats of such subdivision as aforesaid. No such agreement of termination shall be effective unless made and recorded one (1) year
in advance of the effective date of such termination, and unless written notice of the proposed agreement of termination is sent to every Owner at least ninety (90) days in advance of any action taken. |