4-3-24 PB Agenda Packet - Laserfiche WebLink

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77 defined), make subject to the provisions of this Declaration for the purpose of creating additional Lots, Common Elements and/or Streets(as hereinafter defined)as provided in Section 2.02. (c) "Annual Assessment" shall mean an assessment levied each calendar year by the Board of Directors (as hereinafter defined) against each Lot to pay the Common Expense Liability (as hereinafter defined) allocated to each such Lot as provided in this Declaration and in the Bylaws (as hereinafter defined). (d) "Architectural Control Committee" shall mean a committee established pursuant to the provisions of ARTICLE XI for the purposes as set forth in ARTICLE XI. (e) "Articles of Incorporation" shall mean the Articles of Incorporation of the Association as same may be amended and/or modified from time to time as provided therein. The initial Articles of Incorporation shall be substantially in the form attached as EXHIBIT B. 0 "Assessment" shall mean any Annual Assessment or Special Assessment (as hereinafter defined). (g) "Association" shall mean Williams Glen Homeowners Association, Inc., a North Carolina nonprofit corporation,its successors and/or assigns. (h) "Board of Directors" shall mean the board of directors of the Association. 0 `Building" shall manmean any residential building, detached garage, non- residential building(e.g.,community center,office and/or recreation building),shed or outbuilding at any time existing,constructed,erected,installed and/or placed on or upon any Lot or Common Elements. 0) "Bylaws" shall mean the initial bylaws of the Association as same may be amended and/or modified from time to time as provided therein. The initial Bylaws shall be substantially in the form attached as EXHIBIT C. (k) "Charge" shall mean any late payment charge,interest on a delinquent Assessment or any other cost, charge or expense, including reasonable attorneys' fees, incurred by the Association or its management agent or other representative to collect any delinquent Assessment and/or foreclose any Assessment lien,as provided in this Declaration. (1) "Common Elements"shall mean(i)each Street until it is accepted for maintenance by the North Carolina Department of Transportation or any municipality having jurisdiction, and (ii) each tract or parcel of land at any time subdivided from the Property for the purpose of being conveyed to the Association for the common use and enjoyment of the Members as provided in this Declaration and as shown on the Subdivision Plat, regardless of whether any such tract or parcel of land is designated as "common area","open space"or otherwise on the Subdivision Plat,and shall include each Building and/or Improvement (as hereinafter defined) located thereon. The term "Common Elements" shall not include any Lot or any Street that has been accepted for maintenance by the North Carolina Department of Transportation or any municipality having jurisdiction. (m) "Common Expense Liability"shall mean the liability for Common Expenses(as hereinafter defined)allocated to each Lot as provided in this Declaration and in the Bylaws. (n) "Common Expenses" shall mean the actual costs and expenses incurred by the Association each calendar year to operate the Association and to operate, maintain, repair, and replace the Common Elements, including each Building and/or Improvement located thereon, as provided in this Declaration. Common Expenses shall include,without limitation,the annual costs and expenses for service contracts, lighting, removal of debris from ponds, steams and rivers, snow removal, utility services, taxes and other governmental charges levied against any Common Elements, casualty insurance, liability 2