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201908192 on its face that it is valid on a continuous basis for an indefinite period of time until revoked in writing by the specific Lot Owner. All proxies shall be in writing and filed with the Secretary of the Association. Each proxy shall be freely revocable and shall automatically cease when the member giving the proxy shall cease to be an Owner of a Residential Lot or at such earlier time as shall be specified in the proxy or by operation of law. 2.3 Assessments. Declarant hereby covenants for each Residential Lot, and each Owner and/or Lessee of a Residential Lot is hereby deemed to covenant by acceptance of its deed for such Residential Lot, whether or not it shall be so expressed in its deed, to pay to the Association: (1) annual assessments, and (2) special assessments for capital improvements. Such assessments shall be established and collected as hereinafter provided. The annual and special assessments, together with interest, costs, and reasonable attorneys' fees, shall be a charge on the Residential Lot and a continuing lien on each Residential Lot against which such an assessment is made. Each such assessment, together with interest, costs and reasonable attorneys' fees shall also be the personal obligation of the person or persons who own the Residential Lot at the time the assessment fell due, but such personal obligation shall not pass to the successors in title of such person or persons unless expressly assumed by them. 2.4 Annual Assessments. The annual assessments levied by the Association shall be used exclusively to promote the health, safety, welfare and recreation of the residents in The Villas at Stolley Park, and for the improvement and maintenance of the Common Area situated therein. Assessments may be used to carry out the duties and pay the costs of the Association under any management agreement to which it is or becomes a party. The annual assessments shall include generally the areas of maintenance and repair, utilities, equipment for the Common Area, fire insurance and liability insurance, materials, supplies necessary or proper in the opinion of the Board of Directors of the Association as to the operation of the Common Area, for the benefit of the Residential Lot Owners, or for the enforcement of these restrictions, and for such other expenses that promote the health, safety, welfare, and recreation of the Residential Lot Owners and the Association. 2.5 Special Assessments. 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, replacement or improvement, or other expenditure determined to be necessary by the Board of Directors of the Association for the benefit of the Residential Lot Owners and that promotes the health, safety, welfare, or recreation of the Residential Lot Owners and the Association in the Common Area, including fixtures and personal property related thereto. Any such assessment must be approved by the votes of two-thirds (2/3) of the Board of Directors of the Association. 2.6 Rate. The allocation of the annual assessments among the 20 Residential Lots shall be made in accordance with the method approved by the Board of Directors. If an Owner owns more than one Residential Lot, the Owner will be required to pay an annual assessment for each Residential Lot owned by such 4 4845-6155-3581.3