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49 <br /> (a) The Association shall have the right to adopt such rules and regulations as <br /> may be needed to regulate the use and enjoyment of the Common Elements, <br /> including the Limited Common Element parking spaces; <br /> (b) Special Declarant rights as set forth in Article I, Section 10 including the <br /> right to create additional limited common elements within the Condominium. <br /> (c) The Association shall have the right to dedicate or transfer, or encumber all <br /> or any part of the Common Elements subject to approval by the Owners as <br /> provided in G.S. § 47C-3-112. <br /> Section 3: The Association shall have the exclusive right to establish the rules and <br /> regulations pursuant to which the Unit Owners, its employees, servants, invitees <br /> and lessees, may be entitled to use the Common Elements and any Limited <br /> Common Elements, including the right to make permanent and temporary <br /> assignments or allocations of parking spaces. The Town and County shall have <br /> the right, but not the obligation, to have municipal charged parking for one or <br /> more shared Common Element Parking spaces or any of its respective Limited <br /> Common Element parking spaces. If the Town or County elect to have <br /> municipal charged parking, the Parties shall establish rules and regulations <br /> addressing legal, operational, financial and community considerations to be <br /> approved by the Executive Committee and the rules and regulations will be <br /> added as an amendment to the Parties' MOU. By way of example, the MOU <br /> will address municipal parking management structure, fee structure, enforcement <br /> and staff structure, revenue allocation, jurisdiction enforcement and community <br /> impact and public engagement. In the Event the Town or County elect to <br /> implement charges for municipal parking the County Limited Common Element <br /> parking spaces designated for Library use will remain free parking spaces at all <br /> times that the Library operates. <br /> Section 4: Subject to any rules and regulations established by the Association, a Unit <br /> Owner may delegate his right of enjoyment to all or a part of the Common <br /> Elements or to the extent applicable Limited Common Elements to a lessee the <br /> terms of which shall be properly set forth in a written lease, a copy of which <br /> shall be provided to the Association. <br /> 7 <br />