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20 <br /> party will retain its right of first refusal for any sale of the purchased Unit or <br /> Units by the third-party purchaser. <br /> Section 3: This right of first refusal shall be binding upon parties, however the rights pursuant <br /> to this Article are "personal" to the Town and County and the Town and County <br /> shall have no obligation under the terms of this Article to any third-party <br /> purchaser, its successors and/or assigns. <br /> Section 4: If any clause, provision or paragraph of this Article, shall for any reason, be held <br /> illegal, invalid, or unenforceable, such illegality, invalidity, or enforceability <br /> shall not affect any other clause, provision or paragraph hereof, and this Article <br /> shall be construed and enforced as if such illegal, invalid, or unenforceable <br /> clause,paragraph or other provision had not been contained herein. <br /> Section 5: This Article shall be effective upon the recording of this Declaration and continue <br /> for a period of fifteen (15) years, however, either party shall have the right to <br /> renew the first right of refusal for additional fifteen (15) year periods by <br /> providing written public record notice on or before thirty (30) days prior to the <br /> end of the each fifteen(15) year period. <br /> ARTICLE XI <br /> GENERAL PROVISIONS <br /> Section 1: All powers granted in the Declaration or the Bylaws to the Association shall be <br /> exercisable by the Executive Board, except as expressly provided in the <br /> Declaration, the Bylaws, or G.S. § 47-C. <br /> Section 2: The Association may adopt and enforce reasonable rules and regulations not in <br /> conflict with the Declaration and supplementary thereto, as more fully provided <br /> in the Bylaws. <br /> Section 3: The Association shall have the right to enforce, by any proceeding at law or in <br /> equity, all restrictions, conditions, covenants, reservations, liens and charges now <br /> or hereafter imposed by the provisions of this Declaration and the Bylaws <br /> of the Association. Failure by the Association to enforce any covenant or <br /> restriction herein shall in no event be deemed a waiver of the right to do so <br /> 18 <br />