deed restrictions expired?

[Faye Steaples]

I am wanting to look into some property that is in a established subdivision. I am wanting to build a guest house on this  property. 

There isn't a HOA.

When I pulled the deed which the last amended deed was in 1985. This is what it states:

The covenants, conditions, and restrictions of this Declaration shall run with and bind the land, and shall inure to the benefit of, and be enforceable by, Declarant, the owner of any lot, and their respective legal representatives, heirs, successors and assigns, and, unless amended as provided herein, shall be effective for a term of twenty (20) years from this date, after which time said shall be automatically extended for successive period of ten (10) years. Subject to Paragraph 1 hereto, the covenants, conditions and restrictions may be amended during the first twenty (20) year period by and instrument signed by not less then 90 percent (90%) of the lot owners, during any succeeding ten (10) year period by and instrument signed by no less that 75 percent (75%) of the lot owners. No amendment shall be effective until 

recorded in the Deed Records of ________ county, Texas, nor until the approval of any governmental regulatory body which is required shall be obtained.

This would put this at 33 years past this filing. Am I correct in assuming this is expired and not a binding deed at this point?