Agenda - 06-11-1985 - Laserfiche WebLink

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• but in no event shall more than one vote be cast with respect to any Lot. • Class B. The Class B Member(s) shall be the Declarant and shall be entitled to three (3) votes for each Lot owned. The Class B membership shall cease and be converted to Class A membership on the happen- ing of either of the following events, whichever occurs earlier: (a) when the total votes outstanding in Class A membership equal the total votes outstanding in Class B membership; or (b) on January 1, 1990. ARTICLE V COVENANT FOR MAINTENANCE ASSESSMENTS Section One Creation of the Lien and Personal Obliga- tion of Assessments. The Declarant, for each Lot owned within the Properties, hereby covenants, and each Owner of any Lot by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay ' to the Association: (1) annual assessments or charges, and (2) special assessments for capital improvements, such assess- ments to be established and collected as hereinafter provided. The annual and special assessments, together with interest, costs, and reasonable attorney's fees, shall be a charge on the land and shall be a continuing lien upon the property against which each such assessment is made. Each such assessment, together with ,interest, costs, and reasonable attorney's fees, shall also be the personal obligation of the person who was the Owner of such property at the time when the assessment fell due. The personal obligation for the delinquent assessments shall not pass to his successors in title unless expressly assumed by them. Section Two Purpose of Assessment. The assessments levied by the Association shall be used exclusively to promote the recreation, health, safety, and welfare of the residents of the Properties and in particular for the acquisition, improve- -5- a. 1111111111111mi _