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<br /> � ehall aease to esiat, tha masimum annual aseeo�n� mey ba
<br /> �— increased above tea porcent (lOt) only by a vote of two-tbirds .
<br /> (2/3) of tbe mambers who are votinq in pereon or by prosy at
<br /> : � � � a maQting duly callod fdr thi� purposo. � __
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<br /> -- --�—'�=`y D. In adciftio� to the annual assessment authorized above,
<br /> �:__,._;._�_�; the Associetion may leny, in any assessment year, a specfa�l
<br /> �,�-:..;���; aesessment a�pplicable to tbat year only for the purpose af
<br /> �,,-_--�-'`. defrayinq, 3n whole or part, the coete of any construction,
<br /> �_ �.-��m:- repair, replacement, and normal maintenaaae of capital _
<br /> - �.:��,.._;; �. . .
<br /> �-.� L:��.��, improvements upon the comomwa areae, boat elips, iaclud ng
<br /> �-'°M= fistures aad pereoaal property related thereto, aay aesessment
<br /> Lt�`.�' `. ahall have the a�ssent of two-tbirds (2/3) of tho votes of each
<br /> �.�.�
<br /> claes of inembere who are votinq in por�on oz by prozy at a
<br /> ��'��=�;� nQatfng duly callod for this purpaao.
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<br /> =�_': �,; '" E. Hoth annual and apecial aesos�nts muat be f xQ �_
<br /> � ,;�,� � �• uniformly �or all lot cwners and oatato block dwaara, ezcept
<br /> - _—=�:_��' if two lo�s or Qstato bloake ara aombinod tio lorm ono larqqr
<br />.�� � '.;,,,", lAt or o�tiate block, the aaeea�ment for this newly formad lot
<br /> �:"— � or ostiatio block shall be ono and oao-half Qi +y� ti�aoe the
<br /> "°� � ea��seod amount for a single lot or ostato block. Thie newly �
<br />:_,���• � lormed lerqer lot or aotatiQ bloak oball havo ono (1) clase 11
<br /> �-=��� � , �,:ti, votiaq membQrahip.
<br />_�''Y�� t�fiS�.rif•.
<br /> --'� � F. The assessYwents levied by the Aseociation ehall be used _
<br /> �:°�: y.-�: � 'rl:� e�cclusivelyr to pramote the recreatioa, health, safety and
<br />�` �� ' �-�:-�•� �Y-��'_;_ �,Q1 farg �f tiae residents, to maintain commoa qresn areas, _
<br />_ �� e�,:. streets, and to enforce the covonants to preserve the
<br /> � � . appearance of the developmeat for the benefit of all the
<br />_ ���• residente of the co�mnuaity. The assessmente levied by the
<br /> ; '"-'"�^� . � . Aesociation shall be used for, but not limited to, aacountiag,
<br /> � � � ^ legal, insurance for common areas, landscape maintenaace of
<br /> � �•�= •�'`- ''^� comawn area�e, lake maintenance, dock maintenance, street
<br /> _ „�" maintenance includin snow remonal, costs for street lights �,�
<br /> � � � aad utility charge, entry qate, and well maintenance.
<br /> :;� � .
<br /> , .'. �:,�„<,..;;:,;�p4, ".
<br /> � . '?;�::;:`�'����•�•••• G. Notice, quorum and voting requiremente of any meeting
<br /> �.s�•�•:•:•,�.
<br /> ._.;;y�„ �' ' ��'° , called for the purpose of takinq any action authorized under
<br />'-`�;,ti'� �..�. � f. sub-paraqraphs (2) , (3), or (4) sball be governed by the �_
<br /> - '� Article of Incorporation and Sy-Laws of the Poaderosa Lake �,
<br /> : ���'*� � ' Eetates Homeowuers Association. `
<br /> . , d . ^ �
<br /> _ 5. Peqgy Rne, her succQSSOrs and �
<br /> - . b -.
<br /> . � �� assigns, for each lot owned within the Ponderosa Lake Estates .
<br /> � �
<br /> .: ��,,.... . _
<br /> .� ;:.• �
<br /> � � Subdivision hereby covenants, and eacb owner of any lot by � --
<br /> `.r� . � .
<br /> � � acceptance of a deed therefor, wbether or not it shall be so �
<br /> ��:� .
<br /> expressed in such deed, fs deemed to coveaant and agree to pay to �. .
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