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201608009 4. Board of Directors /Annual Assessment. A Board of Directors has been established. The Board of Directors shall control, by majority vote, the management and operation of the Association. The Board, in its sole and absolute discretion, may fix the amount of the Annual Assessment. as follows: a. In addition to the Annual Assessment authorized above, the Association may levy, in any Assessment year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the costs of any construction, repair, replacement and normal maintenance of capital improvements upon the Common Areas, boat slips, including fixtures and personal property related thereto. b. Both annual and special Assessments must be fixed uniformly for all Lot Owners and estate block owners, except if two lots or estate blocks are combined to form one larger lot or estate block, the Assessment for this newly formed lot or estate block shall be one and one -half (1 1 A) times the assessed amount for a single lot or estate block. This newly formed larger lot or estate block shall have one (1) Class A voting membership. c. The Assessments levied by the Association shall be used exclusively to promote the recreation, health, safety and welfare of the residents to maintain common green areas and streets and to enforce the covenants to preserve the appearance of the development for the benefit of all the residents of the community. The Assessments levied by the Association shall be used for, but not limited to, accounting, legal, insurance for Common Areas, landscape maintenance of Common Areas, lake maintenance, boat ramp maintenance, street maintenance including snow removal, costs for street lights and utility charges, entry gate and well maintenance. d. Notice, quorum and voting requirements of any meeting called for the purpose of taking any action authorized under subparagraphs 2, 3 and 4 shall be governed by the Articles of Incorporation and Bylaws of the Association. 5. Payment of Assessments. Each Owner of any Lot, by acceptance of a deed therefore, whether or not it shall be so expressed in such deed, is deemed to covenant and agree, to pay to the Association: (1) Annual Assessment or charges; and (2) special assessments for capital improvements, such Assessments to be established and collected as provided. The annual and special Assessments, together with interest, costs and reasonable attorney fees, shall be a continuing lien upon each Lot. Each Assessment, together with interest, costs and reasonable attorney fees, shall also be a personal obligation of the Owner of each Lot at the time when the Assessment was due. The personal obligation for delinquent Assessments shall not pass to 11