§132. Creation; conveyance; acceptance; duration; filing

1.__Working waterfront covenant.__Except as otherwise provided in this chapter, a working waterfront covenant may be created, conveyed, recorded, assigned, released, modified, terminated or otherwise altered or affected in the same manner as other real estate covenants created by written instrument.

2.__Right or duty.__A right or duty in favor of or against a qualified holder may not arise under a working waterfront covenant unless it is accepted in writing by the qualified holder.

3.__Limitation.__Except as provided in this chapter, a working waterfront covenant is unlimited in duration unless a change of circumstances renders the working waterfront covenant no longer in the public interest as determined in an action under section 133, subsection 3.

4.__Filing.__A working waterfront covenant must be recorded in the County Registry of Deeds, and a copy of the covenant must be filed with the Executive Department, State Planning Office together with a map showing with specificity its location on the form or forms that the State Planning Office requires.

5.__Mortgagee's interest.__A mortgagee's interest in real property in existence at the time that a working waterfront covenant is created is not impaired by the working waterfront covenant as long as the mortgagee's interest is subordinated to the working waterfront covenant.

6.__Right to enter land.__The instrument creating a working waterfront covenant must provide for the right by the qualified holder to enter the real property to ensure compliance.

§133. Judicial actions

1.__Owners; qualified holders.__An action affecting a working waterfront covenant may be brought or intervened in by:

A.__An owner of an interest in the real property burdened by the covenant;

B.__A qualified holder of the benefit of the working waterfront covenant; or