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41 <br />Class A: Class A members shall be all Owners, excepting Declarant, each of whom <br />shall be entitled to one vote for each Lot owned. When more than one person holds an interest <br />in any Lot, all such persons shall be members; subject, however, to the provision that only one <br />vote may be cast per Lot. <br />Class B: The Class B member shall be the Declarant who shall be entitled to three <br />(3) votes for each Lot owned. The Class B membership shall cease and be converted to Class A <br />membership on the happening of either of the following events, whichever occurs earlier: <br />(a) When the total votes outstanding in the Class A membership equals the total <br />votes outstanding in the Class B membership; or <br />(b) on December 31, 2004. <br />ARTICLE IV <br />COVENANT FOR MAUMNANCE ASSESSMENTS <br />Section 1: Creation of the Lien and Personal Obligation of Assessments: Each Owner of a <br />Lot, by acceptance of a deed, whether or not it shall be so expressed in such deed, is deemed to <br />covenant and agree to pay to the Association: (1) annual assessments or charges, and (2) special <br />assessments for capital improvements, such assessments to be established and collected as <br />hereinafter provided. The annual and special assessments, together with interest, costs and <br />reasonable attorney's fees, shall be a charge on the land and shall be a continuing lien upon the <br />property against which each such assessment is made. Each such assessment, together with <br />interest, costs, and reasonable attorney's fees, shall also be the personal obligation of the person <br />who was the Owner of such property at the time when the assessment fell due. The personal <br />obligation for all other delinquent assessments shall not pass to his successors in title unless <br />expressly assumed by them. Declarant shall not be liable for any annual assessments or special <br />assessments for any lots owned by Declarant. <br />Section 2! Pl== of Assesmen The assessments levied by the Association shall be used <br />solely to promotz the mcreation, health, safety, and welfare of the residents in the PROPERTY, <br />to purchase insurance policies as herein stipulated and for the improvement and maintenance of <br />the Open Space Area. <br />Section 33, Maximum Annul As :. Until January 1, 1999, the maximum annual <br />asst shall not exceed Five Hundred Forty and No /100 Dollars ($540.00) per Lot, payable <br />at the rate of One hundred Thirty Five and No/100 Dollars ($135.00) per quarter or other <br />installments as established in the discretion of the Board of Directors of the Association. <br />(a) . From and after January 1, 1999, the maximum annual assessment may be <br />increased each year not more than 105 above the prior year's assessment or in an amount <br />—4— <br />