11.01 In General:
Certain lots in the Development are, as aforesaid, contiguous to a lake which has been or is to be established within the boundaries of the Development. The water in, and the land under, said lake is and will be owned by the Association. Said lakes are depicted in the Plat of the Development, and the normal pool water elevation and the high water elevation of said lake is, and/or will be, also indicated on said Plats. The title that will be acquired by the grantee or the Owner of said contiguous lots (and by the successors and assigns of such Owner) will and shall extend only to the shoreline of the lake to which such lot is contiguous, as said shoreline would be established on the date hereof if the water elevation in said lake were at an elevation one vertical foot above normal pool water elevation indicated in said Development Plats and as the shoreline may hereafter be established by the water, at an elevation one vertical foot above normal pool water elevation, by erosion from said shoreline. No such Owner, nor any of such Owner’s successors or assigns, shall have any right with respect to any stream that is a tributary to said lakes, or with respect to said lakes, the land thereunder, the water therein, or its or their elevations, use or condition, and none of said lots shall have any riparian rights or incidents appurtenant; provided further that title shall not pass by reliction or submergence or changing water elevations. The Association shall have the right at any time to dredge or otherwise remove any accretion or deposit from any of said lots in order that the shoreline of the lake to which the lot is contiguous may be moved toward, or to, but not inland beyond, the location of said shoreline as it would exist as of the date hereof if the water elevation in said lakes were at an elevation one vertical foot above the normal pool water elevation indicated in said Plats, and title shall pass with such dredging or other removal as by erosion.
11.02 Reservation of Easement in Association for Operation of Lakes:
The Association reserves to itself, and its successors and assigns, such an easement upon, across and through each of said lots contiguous to said lakes as is necessary in connection with operating said lakes. Without limiting the generality of the immediately preceding sentence, it is declared that neither the Association nor the Board shall be liable for damages caused by ice, erosion, washing or other action of the water.
11.03 Reservation of Right in Association to Change Water Elevation in Lakes:
The Association reserves to itself, and its successors and assigns, the right to raise and lower the elevation of said lakes, but neither the Association, nor the Board shall have an easement to raise (by increasing the height of any dam or spillway, or otherwise) the high water elevation of any of said lakes to an elevation above that indicated on said Development plats.