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It t ~- 84--1 004571 (A) "Resident Members" shall be all Owners with the excep- tion of the Declarant, and each Owner shall be entitled to one vote for each Lot owned. When more than one person holds an interest in any Lot, all such persons shall be members. The vote for such Lot shall be exercised as they, among themselves, deter- mine, but in no event shall more than one vote be cast with respect to any Lot, (B) "Declarant Member" shall be the Declarant and its assigns, provided such assignment, grant, or conveyance to said assigns shall denominate said assignee as a successor Declarant as provided in the By-Laws. The Declarant Member or. its successor shall be entitled to three (3) votes for each Lot owned. The Declarant Membership shall cease and be converted to Resident Membership upon the earlier to occur of the following events, to-wit: (1) When the total votes outstanding of Resident Member~ ship equal the total votes outstanding in the Declarant Member- ship, or (2) on November 1, 1985, Section 3, Arbitration. In the event of any dispute aris- ing out of a stand-off between two members respecting any vote taken pursuant to this Declaration, th.' that matter which is sub ject to the vote shall be arbi "'atc . Each party shall choose one arbitY3.tcr and such aThi trato.::.'.:::.- shall choose one additional arbitrator, and the decision shall be by a majority of all the arbitrators. Each member shall be bound by the majority vote of the arbitrators. ARTICLE IV COVENANT FOR MAINTENANCE ASSESSMENTS Section Obli ation of Assessments. ~n t e Propert~es hereby covenants, and each owner of any Lot by accept- ance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association: (1) Regular annual maintenance assessment or charges for the purposes hereinafter set forth in Section 2 hereof, and 121 Assessment for capital improvements such assessments to be established and collected as hereinafter provided. Such regular and special assessments, together with interest, costs, and reasonable attorney's fees, shall be and constitute, from the date Levied until paid, a continuing charge against the lien upon such Lot or property against which each such assessment is made, without any requirement of recording further notice of such lien. Each such assessment, together with interest, costs, and reason- able attorney's fees, shall also be the personal obligation of -3- u L .-J L