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Class • I Limited Common Elements, Class H Limited Common Elements, Class III Limited Common <br /> Elements or Class IV Limited Common Elements . <br /> (1) Common Elements. "Common Elements" shall mean all of the Property <br /> exclusive of the Units and shall include, without limitation, the Building (exclusive of the Units) and the <br /> Improvements . <br /> (m) Common Expense. "Common Expense" shall mean any expenditure made by or <br /> any financial liability of the Association, including any allocation to • reserves but excluding any <br /> expenditure made by or any financial liability of the Association which is charged to or assessed against <br /> any Unit or Units by the Association as a Special Assessment. . <br /> (n) Common Expense Liability. "Common Expense Liability" shall mean a Unit' s <br /> annual liability to the Association for the payment of its allocated share of Common Expenses . <br /> (o) Condomiinium. "Condominium" shall. mean Gateway . Center Condominium, the <br /> condominium created by this , Declaration, and shall include, without limitation, the Units• and the <br /> Common Elements. <br /> (p) Declarant. "Declarant" shall mean Telesis Construction Management, LLC, a <br /> North Carolina limited liability company, and its successors and assigns . <br /> (q) Improvement. "Improvement" shall mean any street, driveway, entranceway, <br /> parking lot, sidewalk, retaining wall; curb, culvert, structure or other improvement now existing or <br /> hereafter constructed upon the Property, or any part thereof exclusive of the Building. <br /> (r) Limited .Common Elements. "Limited Common Elements" shall mean any <br /> Common Elements allocated by this Declaration or by operation of the Act for the exclusive use of any <br /> one ( 1 ) or more but fewer than all of the Units, and shall include the Class I Limited Common Elements, <br /> the Class II Limited Common Elements, the Class IH Limited Common Elements, the Class IV Limited <br /> Common Elements and the Class V Limited Common Elements . <br /> (s) Owner. "Owner" shall mean any person who acquires a legal or equitable <br /> interest in any Unit other than as security for an obligation and shall include the Declarant for so long as <br /> -24- <br />