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Section 4 . Replacement or Repair of Property. In the event <br /> of damage to or destruction of any property of the Association, <br /> the Association shall repair or replace the same from the insurance <br /> proceeds available. If such insurance proceeds are insufficient <br /> to cover the costs of repair or replacement of the property damaged <br /> or destroyed, the Association may levy a Capital Assessment <br /> (pursuant to Article VI, Section 6) against all Lot Owners to cover <br /> the additional cost of repair or replacement not covered by the <br /> insurance proceeds, in addition to any other Common Assessments <br /> levied against the Lot Owners. <br /> Section 5. Coveraqe, Loss Ad�ustment. The coverage and <br /> provisions of all insurance obtained by the Association shall be <br /> in conformity with FNMA requirements. <br /> Section 6. Other Insurance: Annual Review of Policies. The <br /> Association shall maintain any other insurance required by law or <br /> by the FNMA or that it determines desirable and appropriate. All <br /> insurance policies shall be reviewed at least annually by the Board <br /> of Directors of the Association in order to ascertain whether the <br /> coverage contained in the policies is sufficient. <br /> ARTICLE V <br /> MEMBERSHIP AND VOTING RIGHTS <br /> Section 1. Membershin Appurtenant to Ownership. Every Lot <br /> is subject to assessment by the Association. Every Owner of a Lot <br /> shall be a member of the Association. Membership shall be <br /> appurtenant to and may not be separated from ownership of any Lot <br /> which is subject to assessment. <br /> Section 2 . Classes of Voting Members. The Association shall <br /> have two classes of voting members as follows: <br /> Class A. Class A Members shall be all Owners, with the <br /> exception of the Declarant, and shall be entitled <br /> to one vote for each Lot owned. When more than one <br /> person is the Owner of a Lot, all such persons shall <br /> be Members and each shall be entitled to a fraction <br /> of a vote equal to the person's fractional <br /> ownership of the Lot. <br /> Class B. The Class B Member shall be the Declarant, which <br /> shall be entitled to three (3) votes for each Lot <br /> owned. The Class B membership shall cease and be <br /> converted to Class A memberships upon the happening <br /> of the earlier of the following events: <br /> (a) when 75� of the Lots have been conveyed of <br /> record to Owners other than the Declarant; or <br /> 8 <br />