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6. 1. B. - Page 41 1.51. "Reimbursement Charge" :............................................................................... ..............................6 1.52. "Reserves or Reserve Funds": ...................................................................................................... 6 1.53. "Reserve Study": ............................................................................................................................ 6 1.54. "Right to Repair Law": .......................... ........................................................................................ 6 1.55. "Rules": ................................................................................................................. 1.56. "SB 800" ............................................... ............................... 1.57. "Special Assessments": ................................................................................................................. 6 1.58. "Storage": ......................... I ................... I ........................................................................................ 6 1.59. "Unit": ......................................................................................... ..... 1.60. "Utility Facilities": ....................................................................... ....6 ARTICLE ll. DESCRIPTION OF PROJECT, DIVISION OF PROPERTY, AND CREATION OF PROPERTYRIGHTS ...................................................................................................... ....................... .......7 2 .1. Description of Project ...................................................................................... ..............................7 2 .2. Division of Property ......................................................................................... ..............................7 A . Units ............................................................................................................... ..............................7 B . Common Area ................................................................................................ ..............................7 C. Exclusive Use Common Areas ............................................... .. . . .. ................. ..............................8 D. Reserved Rights of Declarant and Board over Common Areas .................... ..............................8 2 .3. Parking ...................... ...................................................................................... ....................... .......9 2 .4. Rights of Entry and Use ................................................................................. .................... .... .....10 2.5. Partition Prohibited .................................................................................. ............................... .....10 2.6. Telecommunications Easement ..................................................................... .............................10 2 .7. Drainage Easements ...................................................................................... .............................11 2.8. Creek Trail Easement Area ............................................................................ .............................11 2.9. All Easements Part of Common Plan ............................................................. .............................11 ARTICLE III. ASSOCIATION, ADMINISTRATION, MEMBERSHIP AND VOTING RIGHTS .....................11 3.1. Association to Manage Common Areas ......................................................... .............................11 3 .2. Membership ............................................ ............................... ..................... ............................... ..12 3.3. Transferred Membership ............................... ............................... ...... ............................... ..........12 3 .4. Membership and Voting Rights ........................................ ............................... ........... .................12 ARTICLE IV. ASSESSMENTS; LIENS AND FORECLOSURE ...................................... .............................12 4.1. Creation of the Lien and Personal Obligation of Assessments ...................... .............................12 4.2. Purpose of Assessments ............................................................................... .............................13 4 .3. Assessments .................................................................................................. .............................13 A. Regular Assessments ................................................................................... .............................13 B. Special Assessments: ................................................................................................................ 13 4.4. Restrictions on Increases in Regular Assessments or Special Assessments: ........................... 13 A. Approval of Members for Certain Assessments ............................................ .............................13 B. Assessments - Emergency Situations ........................................................... .............................14 C. Notice and Quorum for Any Action Authorized Under Section 4.4: ............................................ 14 4.5. Division of Assessments ................................................................................ .............................14 4.6. Date of Commencement of Regular Assessment; Due Dates ....................... .............................14 4.7. Effect of Nonpayment of Assessments .... ............................... .......... .....15 4.8. Transfer of Condominium by Sale or Foreclosure ......................................... .............................15 4.9. Priorities; Enforcement; Remedies ................................................................. .............................15 A . Statement of Charges ........................................................... ............................... .......... ............16 B . Payment Plan .................................................................... ............................... ....16 C. Notice of Delinquent Assessment ................................................................. ............... ... ...........17 D . Lien Releases ................................................................................................ .............................17 E. Enforcement of Assessment Lien and Limitations on Foreclosure ............... .............................17 F . Foreclosure ................................................................................................... .............................18 G . Sale by Trustee ..................................................................... ............................... ............... .......19 H. Purchase By Association ............................................................................... .............................19 I. Suspension of Voting Rights of Delinquent Owner ....................................... .............................20 Finesand Penalties ....................................................................................... ............... ...... ........20 4.10. Reimbursement Charges ............................................................................... .............................20 03/06/12 TAWPW1N60\PR0JECTS1333 MAIN STREETtiDEC - DRAFTING FORmr][03 06 12].doc