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i <br /> 15 <br /> Section 4:— The annual assessments levied by the Association,,_, shall be used exclusively to <br /> promote the recreation,health, safety and welfare of the Unit Owners, its employees, <br /> servants, guests, invitees and lessees and in particular for the acquisition, <br /> improvement and maintenance of the condominium, services and facilities devoted <br /> to this purpose, and for the use and enjoyment of the Common Elements. <br /> Section 5:— The annual assessment shall be at the actual cost required for maintenance,repair and <br /> operation of the Condominium 12lus reserves for future anticipated expenses. This <br /> provision shall remain effective during such time that the Units are owned by the <br /> County and Town. <br /> Section 6:— Both annual and special assessments, if any, required shall be at the actual cost and <br /> promptly paid by the Unit Owners, promptly to be defined as within sixty (60) days <br /> of the assessment levy. <br /> Section 7:— The annual assessments provided for herein shall commence upon the conveyance of <br /> the units to the Town and County. <br /> Section 8: —_Prior to the Town or County conveying any Unit to a third-party, an Amendment to <br /> Article IV of the Declaration will be filed to amend the provisions herein to be <br /> consistent with the needs and requirements of Unit ownership not held by the Town <br /> or County. <br /> ARTICLE V <br /> UNIT BOUNDARIES AND PARTY WALLS <br /> Sectio 1:--All finish flooring and any other materials constituting any part of the finished surfaces of the walls, <br /> floors, or ceilings are a part of the Units,pursuant to G.S. § 47C-2-102(1). _To the extent any duct, <br /> wire, conduit, or any other fixtures lies partially within and partially outside the designated <br /> boundaries of a Unit, any portion thereof serving only that Unit is a Limited Common Element <br /> allocated exclusively to that Unit, and any portion thereof serving more than one Unit or any <br /> portion of the Common Elements is a part of the Common Elements, pursuant to G.S. §47C-2- <br /> 102(2). Any decks, porches, balconies, patios and _doors within the building_ or other fixtures <br /> designated to serve a single Unit but located outside the Unit's boundaries are Limited Common <br /> Elements allocated exclusively to that Unit. _For purposes of clarification, the ducts, wire and <br />