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200505832 17. MAJORITY VOTE. A majority vote of the Members at any meeting of the Association at which a quorum is present shall be sufficient to transact the business of the Association unless these Declarations specifically require otherwise, Article IV. COVENANT FOR ASSESSMENTS 1. AGREEMENT TO PAY ASSESSMENTS. The Declarant and each Owner of any Lot by acceptance of deed therefore, whether or not it shall be so expressed in such deed or in such contract, is and shall be deemed to covenant and agree to pay to the Association: (a) Annual assessments, and (b) Special assessments for capital improvements, such assessments to be established and collected as hereinafter provided. The annual and special assessments, together with interest, costs and reasonable attorney's fees, shall be a charge on each Lot and shall be a continuing lien upon each Lot against which each such assessment shall be made. Each such assessment, together with interest, costs and reasonable attorney's fees, shall also be the personal obligation of the person, persons, or entity who, or which, was the Owner of the Lot at the time when the assessment became due. The personal obligation for delinquent assessments shall not pass to such Owner's successors in title, unless expressly assumed by such Owners successors. 2. USE OF ASSESSMENT. The assessments levied by the Association shall be used exclusively to promote the health, safety, recreation and welfare of the Owners of Lots in Property. 3. REGULAR ASSESSMENT. The Association shall fix the annual assessment for regular maintenance of the Streets and Easements of Property and for all other necessary annual expenditures for the Association not deemed capital improvements, based on a budget approved by the Members of the Association. The assessment shall be payable '/z on May 1 and 1/z on September 1 and shall accrue interest at the rate of 14% per annum. The payments shall be made payable to Northview Subdivision Association. The initial annual assessment shall be $100.00 per lot that has been purchased from the original owner. The original owner shall not pay association dues. 4. SPECIAL ASSESSMENT. In addition to the annual assessment authorized above, the Association may levy a special assessment for the purpose of paying, in whole or part, the cost of capital improvements, and in particular, the cost of any construction, reconstruction, or repair or replacement, or additions or appurtenances thereto, of Streets and Easements of Property and of any appurtenances located thereon, including any central water and/or sewage disposal system for the benefit of Property and including fixtures and personal property related thereto. Special assessments shall be approved by the affirmative vote of two- thirds (2/3) of the Members of Association entitled to vote.