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$1-- ~at.~~g~s3 exist. The share of Class A membership shall run with the land and automatioally be transferred to any new owner upon the sale of any lot ar condominium unit in "Eagle Lake Estates Subdivision". D.. A Board of Directors consisting of five members shalt be established. the Board of Directors shall control, by majority vote, the management and opezation of Eagle Lake Associ- ation. 'fhe Board of Directors, in its sole and absolute discretion, may fix the amount of the annual assessment as follows: tl} Until January 1 of the year immediately following the point at which alI Class B membership shares shall cease to gist, the maximum annual assessment shall be c7ne Hundred And Naj100 Dollars 45140.40 pEr lot. (2} From and after January+ 1 of the year immediately following the point at`which all Class B membership shares shall cease to exist, the maximum annual assessment may be increased each year in an amount not to exceed 58 above the maximum assessment for the previous year by the Board of Directors. t3) Fran and after January 1 of the year immediately following the point at which all Class B membership shares shall cease to exist, the maximum annual assessment may be increased above 58 only by a vote of 2;3 of the members who are voting in caerson ar by proxy at a meeting duly called for this purpose. tA) In addition to the annual assessment authorized above, Sagle Lake Association may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying, in wholes or in part, the costs of any construction, repair, replacement, and normal maintenance of capital improvements upon Lots Qne 41} or Twenty-Six t2b), including fixtures and personal property related thereto, provided that any such assessment shall have the assent of 213 of the votes of each close of members who are vatirg in person or by proxy at a meeting c9uly called for this purpose. 45) Both annual and special assessments must be fix~3 uniformly for all members and may be collected on a monthly basis. (~ ) The aasi ~=moments levi€zd by Eagle %;ake Aaaoc- aL~&l~ ~iacli ~ L"u~sc~ ::~±....'~ tGt t~ce'~7t~ s se r'"3~-c ~s --'=p --: ~~.~.. a~ elf a~~ ~f^r hTM r.:s ir9e sits in "Nag lti L.akef EHtdLea Su,bal- vi~.~~•~ €~~ t r_ovant and maintenance of Lots Dne 41! and Twenty-Six tZ6). 47} Notice, quorum and voting requirements of any m+aotir~ called far the purpose of taking any action authorized under 5ubgaragragha t2), 43! or f8} shall be governed by the Articles of Incorporation and By-laws of Eagle Lake Association. E. 3 b B Enterpria~ea, far each lot owned within "bag in Lake katatsa subdivision", h+zroby covenants, and each awn~ar of any lot by acceptance of a deed the~refar, whether or not it shall be ao expressed in auoh dead, is de~ned to covenant and agree to gay to r~agle Lake Aaaaciatian (i! annual aaseaamenta or chmzgaa, aAd 4Z! special asaaaa~nts far capital improvements, suc4 asaess~nts to be eatabli.shed and collected as hereinafter gr~vid~da 'i'h$ a=-~^=tea' a~x apeaial asaaaamunta€ together with .restart, costa, and rearonat>le attorney's fees, steall be a ch~-rge an the land and shall be a eantinuing lion upon the progarty agaf~nat :with each such as~seass~nt is ride. &aCh such assessment, tagat,Aer witls interest, costs, and reasonable attorney's Ease. aha].1 also be_the personal abligatian of the person who was the arn+~z of auoh pr+rty at the time when the assessment fell duo. 'Th+e gsrsant~l abligatian fear delinquent assessments shall not paas~ to hips auacessors in title unla~as expressly assum~,d by them, _~,_