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<br /> � C.. l�rc� and �aftvr laauary 1 of the ysar i.a�edia►tely _ � .
<br /> � � � `. � . fo].lowing,t.�ie_poiat at. Mhi.ch a21 Class H ���ebership sha=es
<br /> ' � ' ` shall coase to ezi�st. th� aasisu� ,annual asss$�aent aaiy be
<br /> � �increased above tsa percent�(i0i) only by a vote of two-third$ .
<br /> ; --_--- �.-- �--_.t 2�-3} o� the �+e�bers Trho.are votinq in pezson ar bp Prosy,at . -
<br /> . _ . a aeetiaq duly called for._t�his Pnrpose. . . ,
<br /> - � D. In .addition •to the annual assess�eat nuthorized abov�, ,
<br /> � . the llssocfation �ay levy, in, anY asaessaent ysar, a speei�
<br /> ` assessaent applicable to tbat yea� onlp far� the Purpo
<br /> defrayinq. in whole or part, the costs of aay aonstructioa, � -
<br /> `� seps�r, replacesent, aad nossal iaintenance of capital
<br /> • iaprove�+eats upoa the landsaapinq, boat slips, inaluding
<br /> f�tures and person�l property related there�a�. aay assess�neat
<br /> aball.have.the assent of twa�-thirds f 2/3) oE the votes af each
<br /> � - c2ass of �e�abers who are voting ia persoa or by ,proxp at a -
<br /> - , aeetinq duly called fos tbi.s purpose. �
<br /> � �� 8.� Both` apnua2 and specfal aseessments must be ..fized � -
<br /> . unifor�tl.y for -all to�mhouse lot oWners. . ,
<br /> g. The assessmants levied by the Association sIiall be used . —
<br />- ' ezclusfvely to prcmote �he recreation, health, safety and
<br /> welfare of the residents� �nd to enforce. the coaenants to =
<br /> - preserve the appearaace of t�e develapmeat for the be�ie�it of � . _
<br />= all the resideats. The assessments levied by the 2lssoaiation
<br /> - shall be �used for, but not 13mited to, acaounting, legal,
<br /> � 2andscape neaintenance, dock maiatenance, water and power for
<br /> sprinkiers, capital fund, and the master aesociation kuo�n as
<br /> - Ponderosa Lakes Estates 8omeo�ners assoaiation.
<br />:L 6. Notice, quorum and votiag require�neats of ang meetiag
<br /> � cal],ed for the purpose oE takfnq anp action authorized under =`:
<br /> - sub-paragraphs (2), (3), or (4) shall be 'qoverned by the �_
<br /> . Article of Incorporatien aad By-i�aws of the Ponderosa villas ���_
<br /> Homeowners Bssociation. � �'t"
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<br /> - 5. peggy Rae, her euccessors and assigns, for each one-half �:=�=
<br /> lot owned, includiaq townhause lots seventeen a (17a) tbrough �c�„
<br />:'.�. twenty-two b (22b� hereby covenant, and each owner of any one-balt ��;;_..
<br />._�y,9l.•' '
<br />`:,. ,, lot by accep�ance o� a deed therefor, whether or not it shall be so __
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<br /> ' expressed � such deed, is deemed to�coveaant and agree to pay to �;,`�.�'��r,+�:
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<br /> � the Association (1) annual assessments or charges, and �2) special
<br />_ �� assesament� for capital improvementa, auch assessments to be
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