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<br />#10634702v3 <br /> <br />3 <br />1.11 “Eligible Mortgagee” shall mean any Person owning a mortgage on any Homesite, <br />which mortgage is first in priority upon foreclosure to all other mortgages that encumber <br />such Homesite, and which has requested the Association, in writing, to notify it regarding <br />any proposed action which requires approval by a specified percentage of Eligible <br />Mortgagees. <br /> <br />1.12 “General Assessment” shall mean and refer to an Assessment levied against all of the <br />Homesites in accordance with Section 6.1, below. <br /> <br />1.13 “Governing Documents” shall mean this Declaration, and the Articles of Incorporation <br />and By-Laws of the Association, as amended from time to time, all of which shall govern <br />the use and operation of the Property. <br /> <br />1.14 “Homebuilder” shall mean and refer to a builder in the business of constructing <br />residential properties, and who has purchased one or more Homesites for purposes of <br />resale of the Homesite containing a completed Dwelling, and not for personal use by the <br />builder. <br /> <br />1.15 “Homesite” shall mean any platted lot within the Plat subject to this Declaration upon <br />which a Dwelling is located or intended to be located, as shown on the Plat, including all <br />improvements thereon, but excluding the Common Areas. <br /> <br />1.16 “Improvement” shall mean and refer to all structures or improvements of any kind <br />located on the Property, including without limitation any building, wall, fence, sign, <br />swimming pool, spa, patio, tennis court, screen enclosure or screening, utilities system, <br />communications system, security system, driveway, roadway decorative structure, <br />planting, landscape, grading or any other type of structure or physical improvement <br />whether the purpose is decorative or otherwise and any additions or changes thereto. <br /> <br />1.17 “Limited Assessment” shall mean and refer to an assessment levied by the Association <br />against fewer than all of the Homesites in the Association pursuant to Section 6.1, below. <br /> <br /> <br />1.18 “Landscaping Areas” shall mean and refer to the areas near the front entrance and on <br />each side of Outlot A of the Property located within a Homesite as labeled and designated <br />on Exhibit B attached hereto to be maintained by the Association. <br /> <br />1.19 “Member” shall mean all persons who are members of the Association by virtue of <br />being Owners as defined in this Declaration. The words “Owner” and “Member” may be <br />used interchangeably in the Governing Documents. <br /> <br />1.20 “Occupant” shall mean any person or persons, other than an Owner, in possession of or <br />residing in a Homesite. <br /> <br />1.21 “Owner” shall mean and refer to the record owner, whether one or more persons or <br />entities, of the fee simple title to any Homesite except that if (i) a Homesite is being sold <br />in a contract for deed, (ii) the contract vendee is in possession of the Homesite and (iii) <br />the contract so provides, then the vendee and not the vendor shall be deemed the <br />“Owner”. <br />341