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WHEREAS, Declarant desires and intends, by the filing of this Declaration, to submit the <br /> Property, including the Building, other Improvements and any appurtenances thereto, to the provisions of <br /> the Act and this Declaration not inconsistent with the Act, and <br /> WHEREAS, it is Declarant' s desire and intent that the condominium created pursuant to this <br /> Declaration shall be known and referred to as "Gateway Center Condominium". <br /> NOW, THE EFORE, Declarant does hereby publish and declare that all of the Property shall <br /> _ <br /> be hereafter held, conveyed, hypothecated, encumbered, used, occupied and improved subject to the <br /> provisions of the Act and to the provisions of this Declaration not inconsistent with the Act. The <br /> provisions of this Declaration are declared and agreed to be in furtherance of a plan for the improvement <br /> of the Property and the division thereof into commercial condominium units and common elements . The <br /> provisions of 'this Declaration, including any and all covenants, conditions, restrictions and easements, <br /> shall be deemed to run with the Property, including the Units (as hereinafter defined) and the Common <br /> Elements (as hereinafter defined), and shall be a burden and a benefit to Declarant, its successors and <br /> assigns and all other persons who may hereafter purchase or otherwise acquire an interest in the Property, <br /> or any part thereof, including any Unit, and their respective grantees, heirs, executors, administrators, <br /> devisees, successors and assigns. <br /> ARTICLE I - <br /> DEEMITIONS <br /> Section 1 .01 Definitions . As used in this Declaration, the following terms shall have the <br /> meanings ascribed to them: <br /> (a) Act. "Act" shall mean the North Carolina Condominium Act, Chapter 47C of the <br /> General Statutes of North Carolina, and any amendment thereof. <br /> (b) Articles of Incorporation. "Articles of Incorporation" shall mean the Articles. of <br /> Incorporation of the Association in the form attached hereto as EMB1T C as same may be amended <br /> and/or modified from time to time as provided therein. <br /> -22- <br />