Laserfiche WebLink
<br />votes for each Lot <br />as provided below. <br />converted to Class <br />the following: <br /> <br />owned until the termination of Class B membership <br />The Class B membership shall cease and be <br />A membership upon the happening of the earlier of <br /> <br />(a) when the total votes outstanding in the Class A <br />membership equal the total votes outstanding in the Class <br />B membership, or <br /> <br />(b) on <br /> <br />From and after the happening of the <br />Class B member shall be deemed to <br />one (1) vote for each Lot in which it <br />for membership. <br /> <br />earlier of these events, any <br />be a Class A member entitled to <br />holds the interest required <br /> <br />Section 3. The right of any member to vote shall be suspended during any <br />period in which such member shall be in default in the payment of any <br />assessment levied by the Association. Such rights may also be suspended after <br />notice and hearing, for a period not to exceed sixty (60) days for any <br />infraction of any rules or regulations published by the Association. <br /> <br />ARTICLE III <br /> <br />COVENANT FOR MAINTENANCE ASSESSMENTS. <br /> <br />Section 1. Creation of the Lien and Personal Obli2ation of Assessments. <br />The Declarant, for each Lot owned by it within the Property, hereby covenants, <br />and each subsequent Owner of any Lot, by acceptance of a deed or other <br />conveyance therefore, whether or not it shall be so expressed in such deed, or <br />other conveyance, is deemed to covenant and agree to pay to the Association: <br />(1) annual assessments or charges, and (2) special assessments for capital <br />improvements, such assessments to be established and collected for the <br />purposes and in the manner hereinafter provided. The annual and special <br />assessments, together with interest, costs and reasonable attorney's fees, <br />shall be a charge on the land and shall be a continuing lien upon each Lot and <br />shall not be affected by the sale or transfer of any Lot except to a first <br />mortgagor of such Lot as provided in Section 9 below. Recording of this <br />Declaration shall constitute record notice of such lien and no further <br />recordation of any claim for such lien shall be required. Each such <br />assessment, together with interest, costs and reasonable attorney's fees, <br />shall also be the personal obligation of the person who was the Owner of such <br />property at the time when the assessment fell due. The personal obligation <br />for delinquent assessments shall not pass to an Owner's successor in title <br />unless expressly assumed by such successor. <br /> <br />Section 2. PurDose <br />Association shall be used <br /> <br />of Assessments. <br />exclusively to <br /> <br />The assessments levied <br />promote the recreation, <br /> <br />by the <br />health, <br /> <br />-3- <br />