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<br /> <br />4810-5342-0509, v. 2 <br /> 33 <br /> <br />5.2 Number of Votes. The Association shall have two (2) classes of voting membership, as <br />described below. The voting rights described in Sections 5.2.1 (Class A Members) and 5.2.2 (Class B <br />Members) shall constitute the Voting Power of the Association: <br />5.2.1 Class A Members. Class A Members shall be all Owners, with the exception <br />of Declarant (until the conversion of Declarant’s Class B membership to a Class A membership, as provided <br />in Section 5.2.2 (Class B Members)), and shall be entitled to one (1) vote for each Condominium owned. <br />When more than one (1) Person holds an interest in any Condominium, all such Persons shall be Members. <br />The vote for such Condominium shall be exercised as they among themselves determine, but in no event <br />shall more than one (1) vote be cast with respect to such Condominium. <br />5.2.2 Class B Members. Class B Member(s) shall be Declarant who shall be entitled <br />to three (3) votes for each Condominium owned by Declarant in a Phase for which Assessments have <br />commenced. The Class B membership shall cease and be converted to Class A membership on the <br />happening of the earliest of the following to occur: (a) the second anniversary of the first close of escrow <br />for conveyance of a Condominium in a Phase to a First Owner covered by the most recently issued Public <br />Report for any Phase of the Community; or (b) the fourth anniversary of the first conveyance of a <br />Condominium covered by the original Public Report for the first Phase to a First Owner of the Community. <br />As long as Class B membership exists, no action by the Association that must have the prior approval of <br />the Members shall be deemed approved by the Members unless approved by the appropriate percentage <br />of Class A and Class B Members, except as otherwise set forth in this Declaration. Upon conversion to a <br />single Class A voting membership, any action by the Association that must have the prior approval of the <br />Members will require approval by at least a majority of the Members including at least a majority of Members <br />other than Declarant. <br />5.3 Joint Owner Votes. The voting rights for each Condominium may not be cast on a <br />fractional basis. If the joint Owners of a Condominium are unable to agree among themselves as to how <br />their voting rights shall be cast, they shall forfeit the vote on the matter in question. If any Owner exercises <br />the voting rights of a particular Condominium, it will be conclusively presumed for all purposes that such <br />Owner was acting with the authority and consent of all other Owners of the same Condominium. If more <br />than one (1) Person exercises the voting rights for a particular Condominium, their votes shall not be <br />counted and shall be deemed void. <br />ARTICLE 6 <br />ASSESSMENTS <br />6.1 Creation of Lien and Personal Obligation for Assessments. Declarant, for each <br />Condominium owned within the Property, hereby covenants, and each Owner of a Condominium by <br />acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant <br />and agree to pay to the Association all Assessments levied pursuant to the provisions of this Declaration. <br />All Assessments levied hereunder, together with Additional Charges, shall be a charge on the land and <br />shall be a continuing lien upon the Condominium of such Owner against which each such Assessment is <br />made, the lien to be effective upon recordation of a Notice of Delinquent Assessment (defined below). Each <br />such Assessment, together with Additional Charges, shall also be the personal obligation of the Person <br />who was the Owner of such Condominium at the time when the Assessment fell due and shall bind its heirs, <br />devisees, personal representatives and assigns. Unlike the lien for non-delinquent Assessments, the <br />personal obligation for delinquent Assessments shall not pass to successive Owners, unless expressly <br />assumed by such successive Owner. No such assumption of personal liability by a successor Owner shall <br />relieve any Owner against whose Condominium the lien was levied from personal liability for delinquent <br />Assessments. If more than one Person is the Owner of a Condominium, the personal obligation to pay <br />such Assessment or installment respecting such Condominium shall be both joint and several. <br />6.2 Funds Held in Trust. The Assessments collected by the Association shall be held by the <br />Association for and on behalf of each Owner and shall be used solely for the operation, care and <br />maintenance of the Community. Upon the sale or transfer of any Condominium, the Owner’s interest in the <br />286