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(b) fix, levy, collect and enforce payment by any lawful means, all charges or assessments pursuant to the terms of the Declaration; to pay all expenses in connection therewith and all office and other expenses incident to the conduct of the business of the Association, including all licenses, taxes or governmental charges levied or imposed against the property of the Association; (c) acquire (by gift, upon, operate, maintain, use or otherwise dispose of affairs of the Association; purchase or otherwise), own, hold, improve, build convey, sell, lease, transfer, dedicate for public real or personal property in connection with the (d) borrow money, and with the assent of seventy-five percent each class of members mortgage, pledge, deed in trust, or hypothecate all of its real or personal property as security for money borrowed incurred, and provided that such additional consent required Declaration is obtained; (75%) of any or or debts by the (e) participate in mergers and consolidations with other nonprofit corporations organized for the same purposes, provided that any such merger or consolidation shall have such assent as is required by the Declaration; (f) have and to exercise any and all powers, rights and privileges which a corporation organized under the Non-Profit Corporation Law of the State of Minnesota by law may now or hereafter have or exercise consistent with the Declaration and these Articles. ARTICLE V. MEMBERSHIP Every person or entity who is a record owner of a fee or undivided fee interest in any Lot which is subject to covenants of record to assessment by the Association shall be a member of the Association. The foregoing is not intended to include persons or entities who hold an interest merely as security for the performance of an obligation unless and until such mortgagee has acquired title pursuant to foreclosure of said mortgage or proceedings or deed in lieu of foreclosure, in the period in which the fee owner may redeem from such 'foreclosure as terminated. ihere any such Lot is being sold by the fee owner to a contract vendee who is entitled to possession of the Lot, the contract vendee shall be considered the owner of the Lot if (i) the rights of the contract vendor hereunder are delegated to the vendee under such contract for deed; and (ii) the vendee shall furnish proof of such delegation to the Association. Membership shall be appurtenant to and may not be separated from ownership of any Lot which is subject to assessment by the Association. ARTICLE VI. VOTING RIGHTS The Association shall have two classes of voting membership: -2-