I think it is important to be reminded that this covenant offer to be Gods people, is still very much contingent upon those people having taken upon them the name of Christ; and first personally become His! We must first each come unto Christ, or the covenant has little meaning to us as individuals.
Some quotes from the Answer-Covenant.

“I desire to heal you from an awful state of blindness so that you may see clearly my will, to do it. I promised to bring unto you much of my gospel through the Book of Mormon and to provide you with the means to obtain a fullness of my gospel, and I have done this; yet you refuse to receive the truth even when it is given unto you in plainness. How can you who pursue the truth yet remain unable to behold your own weakness before me?” (A-C PG 2,3)
And here is plainness!

 
“How can saying you are a faithful husbandman ever produce good fruit in the vineyard without doing the work of the husbandman? For you seek my words to recover them even as you forsake to do them. You have heretofore produced wild fruit, bitter and ill formed, because you neglect to do my words.
For the sake of the promises to the Fathers will I labor with you as a people, and not because of you, for you have not yet become what you must be to live together in peace. If you will hearken to my words I will make you my people and my words will give you peace. Even a single soul who stirs up the hearts of others to anger can destroy the peace of all my people. Each of you must equally walk truly in my path, not only to profess, but also to do as you profess.
The Book of Mormon was given as my covenant for this day and contains my gospel, which came forth to allow people to understand my work and then obtain my salvation. Yet many of you are like those who reject the Book of Mormon, because you say, but you do not do.
As a people, you honor with your lips, but your hearts are corrupt, filled with envy and malice, returning evil for good, sparing none, even those with pure hearts among you, from your unjustified accusations and unkind backbiting. You have not obtained the fullness of my salvation because you do not draw near to me.
The Book of Mormon is to convince the gentiles, and a remnant of Lehi, and the Jews, of the truth of the words of my ancient prophets and apostles, with all the records agreeing that I am the Lamb of God, the Son of the Father, and I was sent into the world to do the will of the Father, and I am the Savior of the world.
All must come unto me or they cannot be saved. And how do men come unto me?
It is by faith, repentance, and baptism, which bring the Holy Ghost to then show you all things you must know.
Hear therefore my words: Repent and bring forth fruit showing repentance, and I will establish my covenant with you and claim you as mine”. (A-C PG 3)

 
“But remember that without the fruit of repentance, and a broken heart and a contrite spirit, you cannot keep my covenant; for I, your Lord, am meek and lowly of heart. Be like me. This is the way I will restore knowledge to my people.” (A-C PG 7)

 
“Be of one heart, and regard one another with charity. Measure your words before giving voice to them, and consider the hearts of others.
Although a man may err in understanding concerning many things, yet he can view his brother with charity, and come unto me and through me he can with patience overcome the world. I can bring him to understanding and knowledge. Therefore if you regard one another with charity then your brother’s error in understanding will not divide you.
I lead to all truth. I will lead all who come to me to the truth of all things. The fullness is to receive the truth of all things, and this too from me, in power, by my word and in very deed. For I will come to you if you will come unto me”. (A-C PG 8)

 
“All you who have turned from your wicked ways and repented of your evil doings, of lying and deceiving, and of all whoredoms, and of secret abominations, idolatries, murders, priestcrafts, envying, and strife, and from all wickedness and abominations, and have come unto me, and been baptized in my name, and have received a remission of your sins, and received the Holy Ghost, are now numbered with my people who are of the house of Israel.” (A-C PG 11)

 
Until we have done this, it is impossible to abide the covenant being offered and to be His people, because if we aren’t individually His, we aren’t one of His people!
We “as a people” still just honor Him with our lips”.

Come unto Christ! Be like Him!

 
“And now, because of the covenant which ye have made ye shall be called the children of Christ, his sons, and his daughters; for behold, this day he hath spiritually begotten you; for ye say that your hearts are changed through faith on his name; therefore, ye are born of him and have become his sons and his daughters. And under this head ye are made free, and there is no other head whereby ye can be made free. There is no other name given whereby salvation cometh; therefore, I would that ye should take upon you the name of Christ, all you that have entered into the covenant with God that ye should be obedient unto the end of your lives.” (Mosiah 5:7,8)

If we have not taken upon us the name of Christ, and come unto Him, we will not be found as His sons and daughters. We wont be His! We wont abide the covenant offered!

Let Him fill our hearts and minds in the coming days, even all the days of our lives.

Your brother in Christ!