Compliance with Rule Against Perpetuities and Restraints of Alienation

The covenants contained herein shall run with the land and shall be binding on all parties and all persons claiming under them, until January 1, 2029, after which time, the covenants shall be automatically extended for successive periods of twenty-one (21) years, unless an instrument executed by not less than a majority of owners of the condominiums shall be recorded, canceling or terminating this Declaration.