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201907112 Section 3. Maximum Annual Assessment. The Board of Directors may fix the annual assessment at an amount not in excess of the maximum. a. Maximum annual assessment may be increased each year not more than ten percent (10%) above the maximum assessment for the previous year without vote of the membership. b. The maximum annual assessment maybe increased above ten percent (10%) by two-thirds (2/3rds) of members who are voting in person or by proxy at a meeting duly called for this purpose which shall automatically include the annual meeting of Resident Members. 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 capital improvements including fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3rds) of the vote 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 action authorized under Section 3 or 4 shall be sent to all Resident Members not less than ten (10) days or more than twenty (20) day in advance of the meeting. At first such meeting called, sixty percent (60%) of the presence of Resident Members or of proxies entitled to cast votes 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 subsequent meeting shall be held more than twenty (20) days following the proceeding meeting. Section 6. Uniform Rate of Assessment. Both annual and special assessments must be fixed at a uniform rate of all lots and may be collected on a monthly basis. Section 7. Date of Commencement of Assessment: Due Dates. The annual assessments provided for herein shall commence as to all lots on the first day of such month following the annual meeting, the Board of Directors shall fix the amount of the assessment against each Lot in advance of each annual meeting. The Board of Page6of 1'(