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a) � 1,Vhen the last Lot �vithin ��'est��ood Villa�e I'lat 1 is sold, or b) On , 1973. Froin and after �h�: happetling of eithc�r of these events, whichc�ver first occurs, the Class B i:zeizlLer slzall bc deemed to be a Class A nleml�er, eiititled to one vote for• eacli Lot (as ��rovid��d for ClaSs A meinbers) in «lhich it holds the interest requii•ed for rnein�ershi�., ucider Section 1. ARTICLF IV. Property riglits in the COrilI110T1 Properties. Sectioii 1. R�Iembers Easelizent of Enjoymeilt. Subject to #�e provi.sions of Section 3, every NIe7��1�er shall have a x•ight and easement of enjoyr��ent in nnd to the Common Properties, and such ea�:�izlen�: sl�all be appurienant to and sh�ll pass t�rith the title to e��e ry Lot. Sectiotl 2. Title io Coininoi7 Properties. '1�'he Developer a��: y retain the legal iitle to the Commori Propei•ties until sucli time as it has comple�.�d irr�provements thereon and until such time as, in the opinion of th� Developer, tlic Associaiiori is able to rnaintain ihc same bui, not�vithstanding any prnvision herein, the I�eveloper hereby ' covenants for its�:�lf, its successors and assigns, thai: it shall convey the Comman Properties t� tfie Association not later than , 1968. Sectian 3. Extent of liiembcrs Easements. The rights and easements of enjoyment created hereby aiid the title of the Associ.ati�n to the Comr�on Properties shall be subject to tlze follo«�in�; : � a) The rigllt of the Associatiot�, in accor•dance with �is Articles and By-Laws, to borro�v m�ney for the p�.irpose of imnroving the Common Properties, and in aid thereof to mortgage said pT•operties and th� riglzts of such mortgagee in said properties shall be subordinate to tlze ri�hts of the 1V1emb�rs hereunder; aild ' b) The right of the Association to take such steps as are rEasonably necessaiy to protect the above descz•ibecl properties agair�� foreclosure; and c) The right of the Association, a� providec3 in its Articles and By-Laws, to suspencl the enjoyment rights of any NIernber foz, �ny perio� during which any assessinent remains �.�npaicl, and to suspend the said enjoyment z•ights for any period nat to elceed 30 days and to impose a fi.ne not to e;cceed $5.00 for each infraction of its published rules and regulatioris. d} Tne right of the Association to char•ge reasonabl� admission and c�ther fees for the use �' the Common Fropertics; and e) The i•ig�i of the O�vner of each lot to an exclusiv� easerr��nt on the Comman Properties to az•eas occupied by fireplaces, ro�� overhang�, air con�iitioning compr•essors, flo�ver boYes aizd other applirtenances �,vhich are pa rt of the original. construction oi ariy living unit oi• �vhich are added pursuant to th� provisions of A rticie VIII hereof; arld f). The right of inciividual Members to the use of par�ing spaces as provided in A r+i�le V he z•eof; and g) The right of tlze Associatioci to dedicate or tran�Ier all or any part of the Cbmmon Pr•opertie5 to any public agercy, aui:�ority, or ut�ity for such purposes and subaect to such conditions as may be agreed to by the mei�bers, provided that no such ciedicatioti or transfer, detE�rnzination as to the purpos�s or- as to the canditions ther•�of sha11 be e�'fective unless an instrument signed by �1�em�ers e�ntitled to cast � 3/4 of the votes of each class of inezz�bership has been recorded agreeing to such dedication, transfer, purpose or condition, and unless �vr�titen notice of the proposed agreec7�ent and actiQn thei•eunder is sent to every �'Iember at least 90 days in advance of any action ta�cen; and h) The -ri�lits of the Village of Rosevi'le, '�Iinnesot�, to an "open space easement", cz�eated by indentlire from Developer to said V�llage dated , 1967. l�RTICLE �'. Parkin� rights. The �ssociation shall main�ain u�on the Common Proper�ies certain par�in� spaces conveni�n�ly located f�; the use of the Members' guests. . -3-