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200106596 <br />shall run with the real property and be binding on all parties <br />having any right, title or interest in any one of the Lots, their <br />heirs, successors and assigns, and which shall inure to the <br />benefit of each Owner thereof. <br />ARTICLE I. <br />DEFINITIONS <br />The following words, phrases or terms used in this <br />Declaration shall have the following definitions: <br />1. "Annual Assessment" shall mean the charge levied and <br />assessed each year against each Lot, Owner or lessee. <br />2. "Architectural Committee" shall mean the committee of <br />the Association to be created pursuant to Article II, paragraph 3 <br />below. <br />3. "Articles" shall mean the Articles of Incorporation of <br />the Association as the same may, from time to time, be amended or <br />supplemented. <br />4. "Assessment" shall mean an annual assessment or special <br />assessment. <br />5. "Assessment Lien" shall mean the lien created and <br />imposed by Article III, paragraph 5. <br />6. "Association" shall mean PONDEROSA LAKE ESTATES <br />HOMEOWNERS ASSOCIATION, INC., which has been incorporated as a <br />non - profit Nebraska corporation, it successors and assigns. <br />4 <br />