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under this Declaration (except the obligations and duties of Declarant as an Owner); and (B) to which Declarant assigns or delegates, in whole or in part, the interest of Declarant in any or all easements created by this Declaration or the rights and powers vested in Declarant by this Declaration. Section 2. Severability and Governing Law. The invalidity or unenforceability of any covenant, condition, term, or provision of this Declaration shall not affect the validity and enforceability of any other covenant, condition, term, or provision of this Declaration. The covenants, conditions, terms, and provisions of this Declaration shall be governed by, and construed in accordance with, the laws of the State of Indiana. All references in this Declaration to " Owner(s)" shall be deemed to be references to Declarant, unless and until Declarant conveys all of its ownership interest in and to all of the Parcels, and except when a reference to " Owner(s)" expressly excludes Declarant. Section 3. Waiver of obligations and Duties. After the date on which the Development Period ends, the Owners that own in the aggregate: (a) 75% or more of the aggregate acreage of the Project; and (b) 75% or more of the Gross Floor Space (the "Majority Owners ") may waive, from time to time, in whole or in part, any obligation or duty of Declarant or any Owner under this Declaration and /or exempt any portion of the Real Estate from the terms and conditions of this Declaration. Section 4. Annexation of Adjacent Real Estate. Declarant hereby reserves the right, from time to time and at any time during the Development Period and for a period of ten (10) years after the expiration of the Development Period, to annex any portion of the Adjacent Real Estate into the Project (the "Annexed Real Estate "). As of the date on which Declarant annexes any portion of the Adjacent Real Estate into the Project: (a) the Annexed Real Estate shall be deemed to be included within the Real Estate and the Project; (b) all references in this Declaration to the "Real Estate" or to the "Project" shall be deemed to include the Annexed Real Estate; (c) all references in this Declaration to " Parcel(s)" shall be deemed to include all parcels of land within the Annexed Real Estate; (d) all references in this Declaration to " Owner(s)" shall be deemed to include all owners of a Parcel within the Annexed Real Estate; (e) all references in this Declaration to "Parties in Interest" shall be deemed to include all Owners of Parcels in the Annexed Real Estate and all current and future mortgagees, grantees, assigns, and successors of the Owners of Parcels in the Annexed Real Estate; and (f) all easements created by this Declaration shall bind, benefit, burden, and run with the Annexed Real Estate, as provided in Article I, Section 8 of this Declaration. Section S. Amendments and Supplements. (a) Declarant hereby reserves the right, from time to time and at any time during the Development Period, to modify, supplement, or amend this Declaration, without the consent of any Owner or Party in Interest; provided that Declarant records the modification in the Office of the Recorder of St. Joseph County, Indiana, and the modification is for any one or more of the following purposes: 0) To extend the provisions of this Declaration to bind and benefit the Annexed Real Estate and the Owner(s) of Parcel(s) within the Annexed Real Estate; (ii) To clarify one or more covenants, conditions, terms, or provisions of this Declaration, without materially changing the substance hereof; -21-