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covenants and restrictions.
Section 2. The Developer may, in its sole
discretion, modify, amend, abrogate, add to, or derogate
from the covenants and restrictions applicable to the
Subdivision; provided, however, that any such additional
covenants and restrictions for modifications or amendments
hereto shall not affect the lien of any mortgaye then
encumbering any of the properties within the Subdivision nor
shall affect the rights and powers of an}~ such mortgayee.
ARTICLE IX
DURATION OF COVENANTS AND RESTRICTIONS
The foreyoing covenants and restrictions which
shall be binding upon all Owners, their heirs and assigns,
shall constitute an easement and servitude in and upon the
lands conveyed in the Subdivision running with the ]and and
shall be deemed for „the benefit of all the lands in the
Subdivision; and the}> shall be and remain in full force for
25 years from the date of this Declaration. Said covenants
and restrictions shall, upon the expiration of the 25 year
period, be automatically extended for successive periods of
ten years each unless by vote of a majority of the then
Owners of the Lots of this Subdivision it is agreed to
change them in whole or in part.
ARTICLE X
DEVELOPER MAY ASSIGN
The Developer may assign any and all of its rights,
powers, obligations and privileges under this instrument to
I' "Vikings Landing Property Owners Association, Inc." or an}•
other corporation, association or person.
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II ARTICLE XI
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The foregoing restrictions shal-1 be applicable to
all lots in the Subdivision.
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`3 e - ~ - BOOK 322 PACE 2•,27