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202001655 ARTICLE III. Organization of Association. 1. Formation of Association. The Amick Acres Homeowners Association shall be a Nonprofit Nebraska Corporation charged with the duties and invested with the powers prescribed by law and set forth in the Articles, Bylaws, and this Amended Agreement for Covenants. Neither the Articles, nor the Bylaws shall, for any reason, be amended or otherwise changed or interpreted so as to be inconsistent with this Amended Agreement for Covenants. It shall be the responsibility of the corporation to enforce all of the covenants, restrictions and conditions contained in this Agreement. 2. Voting Memberships. The owner(s) of each Lot(s) is a member who shall have one vote per lot owned. 3. Board of Directors/Annual and Special Assessments. a. Board of Dirctors. A Board of Directors consisting of not less than three (3) members shall be established. The Board of Directors may recommend to the membership of the Association an increase in the number of Directors. However, such number shall not exceed seven (7). b. Permanent Seat. One seat on the Board of Directors with voting rights shall be reserved for either John W. Amick, Renee J. Amick, or their heirs, or their designate as long as either John W. Amick or Renee J. Amick, or their heirs are living, or until such time they may waive their right to a seat on the Board. c. Annual Assessment. The Board of Directors shall control, by majority vote, the management and operation of the Association, including annual assessments. The Board, in its sole and absolute discretion, may fix the amount of the annual assessment which shall be voted on by the members at their annual homeowners association meeting. d. Uniformity of Assessments. Annual and/or assessments must be fixed uniformly for all lot owners, except if two or more lots are combined to form one larger lot, the assessment for this newly formed lot shall be one and one-half (1 and 1/2) times the assessed amount for a single lot. e. Use of Assessments. The assessments, whether annual or special, levied by the Association shall be used exclusively to promote the recreation, health, safety, and welfare of the residents, to maintain common green areas, streets, the Lake Lots and their beds, and to enforce the covenants to preserve the appearance of the subdivisions 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 fees, insurance for common areas, landscape maintenance of common areas, lake maintenance, construction and maintenance of boat ramps, street and road maintenance, costs for street lights, common utility charges, well maintenance, and flood prevention and mitigation. The assessments levied may also be used for capital improvements, such as but not limited to, roadway surfacing.