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201804258 Owner, his or her family, guests, or invitees, the cost of such maintenance or repairs shall be added to and become a part of the regular Assessments to which such Lot is subject. The Association is specifically authorized to contract with any professional management company to furnish professional management of the Properties and to provide for said exterior maintenance as set forth herein. Section 3. Board of Directors /Annual Assessment. 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 determine the amount of the Annual Assessment subject to the following: (a) The Board shall not increase the Annual Assessment by more than 10% above the Assessment for the previous year without a two - thirds (2/3) vote of the Members present in person or by proxy at a meeting duly called for this purpose. (b) Meetings of the Board and Members shall be held and scheduled as set forth in the Bylaws of the Association, as may be amended from time to time. Section 4. Special Assessments for Capital Improvements. In addition to the Annual Assessments 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 cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Area, including fixtures and personal property related thereto; PROVIDED THAT any such Assessment shall have the assent of two- thirds (2/3) of the votes of Members who are voting in person or by proxy at a meeting duly called for this purpose. Section 5. Notice and Quorum for Any Action Authorized Under Section 3 and 4. Written notice of any meeting called for the purpose of taking any action authorized under Section 3 or 4 shall be sent to all Members not less than 10 days nor more than 30 days in advance of the meeting. At the first such meeting called, the presence of members or of proxies entitled to cast sixty percent (60 %) of all the votes of each class of membership shall constitute a quorum. If the required quorum is not present, another meeting may be called subject to the same notice requirement, and the required quorum at the subsequent meeting shall be one -half (1/2) of the required quorum at the preceding meeting. No such subsequent meeting shall be held more than 60 days following the receding meeting. Section 6. Uniform Rate of Assessment. Both annual and special Assessments are payable on a monthly basis, unless otherwise determined by the Board, and shall be assessed at an equal rate for each Lot; PROVIDED HOWEVER, PURSUANT TO PRIOR SETTLEMENT AGREEMENT, THE OWNERS OF LOT 1, NOTTINGHAM ESTATES SECOND SUBDIVISION (FORMERLY KNOWN AS LOTS 21 AND 22 NOTTINGHAM ESTATES SUBDIVISION) AND LOT 1, NOTTINGHAM ESTATES THIRD SUBDIVISION (FORMERLY KNOWN AS LOTS 19 AND 20 NOTTINGHAM ESTATES SUBDIVISION) SHALL BE ASSESSED AT A 1.75 RATE FOR EACH LOT (by way of example, if the Annual Assessment is $100 per Lot, the Annual Assessment for the referenced Lots will be $175). 6