Section 1.17. “Owner(s)” or “Lot
Owners” shall mean and refer to (1) the record owner, whether one or more
persons or entities, or (2) the holder of equitable or beneficial title (or
legal title if same has merged) of any
Section 1.18. “Person” shall mean a
natural individual or any other entity with the legal right to hold title to
real property.
Section 1.19. “Plat” shall mean the
Subdivision Plat covering the property.
Section 1.20. “Property” or “Subdivision“ shall mean all that real property identified in the Plat and
legally described in Exhibit A attached hereto and incorporated herein by
reference.
Section 1.21. “Reconstruction Assessments”
shall mean those assessments levied by the Association against all Lot Owners
to cover the costs of repair or replacement of damaged or destroyed parts of
the Common Areas when insurance proceeds are insufficient to cover the costs of
the same.
Section 1.22. “Rules” shall mean the
rules adopted by the Board pursuant to the Bylaws.
Section 1.23. “Special Assessments”
shall mean those assessments which the Association may levy for the purpose of
defraying in whole or in part, the cost of any construction, reconstruction,
repair or replacement of capital improvement upon the Common Areas, including
fixtures and personal property related thereto, provided that such assessment
shall have the assent of the Members set forth in Section 6.04 herein.
ARTICLE II
GENERAL RESTRICTIONS
All
property within the Subdivision shall be held, used and enjoyed subject to the
following limitations and restrictions.
Section 2.01. Insurance
Rates. Nothing shall be done or kept on any