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The only way to do this is to get the covenant amended. The covenants may authorize a majority [or a specified percentage of homeowners] to amend this "no outbuilding" covenant. Such provisions are valid and enforceable. The other option is to go ahead and build the shed and let someone sue you to take it down. If no one does and its stays there for sometime unchallenged; then you may be able to argue the defense of laches [i.e. they sat on their rights too long and now they cannot be enforced].
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A covenant is typically changed by following the procedures set forth in the covenant or the community's governing documents. But, please feel free to upload the document and I will be happy to look at it...