The covenants, conditions and restrictions of this Declaration shall run with and bind with Existing Property and shall inure to the benefit of and be enforceable by the Owners, their respective legal representatives, heirs, successors and assigns, for a period of thirty (30) years from the date this Declaration is recorded, after which time the covenants, conditions and restrictions shall be automatically extended for successive periods often (10) years each, unless an instrument signed by a majority of the then Owners has been recorded agreeing to terminate or modify the covenants, conditions and restrictions.