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i <br /> 26 <br /> _party will retain its right of first refusal for any sale of the purchased Unit or Units by the third- <br /> parry purchaser. <br /> Section 3: This right of first refusal shall be binding upon paAiesParties, however the rights <br /> pursuant to this Article are "personal" to the Town and County and the Town and <br /> County 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 shall <br /> not affect any other clause, provision or paragraph hereof, and this Article shall be <br /> construed and enforced as if such illegal, invalid, or unenforceable clause, paragraph <br /> or other provision had not been contained herein. <br /> Section 5: This Article shall be effective upon the recording of this Declaration and continue for <br /> a period of f (1-sthi 30) years, however, either parry shall have the right to <br /> renew the first right of refusal for additional fifteen (1-Sthi 30) year periods by <br /> providing written public record notice on or before thirty (30) days prior to the end <br /> of the each fifteen(1-5thi 30)year period. <br /> ARTICLE XI <br /> GENERAL PROVISIONS <br /> Section I:— 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 Declaration, <br /> 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 in <br /> the Bylaws and MOU. <br /> Section 3:— The Association shall have the right to enforce,by any proceeding at law or in equity, <br /> all restrictions, conditions, covenants, reservations, liens and charges now or <br /> hereafter imposed by the provisions of this Declaration and the Bylaws <br /> of the Association._Failure by the Association to enforce any covenant or restriction herein <br /> shall in no event be deemed a waiver of the right to do so <br />