Amends GS 47B-3 to provide that marketable record title does not affect or extinguish restrictive covenants applicable to a general or uniform scheme of single-family or multifamily residential development (was, covenants applicable to a general or uniform scheme of development that restrict the property to residential use only) if the covenants are otherwise enforceable. Makes a conforming deletion of the provision that allowed the excepted covenant to restrict the property to multi-family or single family residential use or simply to residential use. Makes additional conforming and clarifying changes.