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i : •� , . t I shall b owned, used,occupied, and conveyed subject to the covenants, restrictions, easem nts, � charges and liens set forth herein, all of which shal! be binding upon all Persons own' g or . acquiri g any right, title, or interest therein, and their heirs,personal representatives, succes ors, and ass gns. � � SECTI4N I � DEF1NITdONS The fol owing words when used in the Governing Documents shall have the foilowing me ings (unless he context indicates otherwise): .1 "Act" means Minnesota Statutes Chapter 5•15B, known as the Minn sota ' Common Interest Ownership Act,as amended. .2 "Assessments" means and refers to all assessments levied by the Associ tion pursuant to Section 6 and pursuant to the Act,including,but not limited to,a nual assessments,special assessments,and limited assessments. .3 "Association" means the Stonebay of Orano Condominium Associatio , a nonprofit corporation which has been created pursuant to Minnesota Sta tes . Chapter 317A and Section Si5B.3-101 of the Act, whose members consist f all 4wners. � .4 "Board" rneans the Board of Directors of the Association as provided for.i the Bylaws. .5 "Buiidin�e" means each structure which is or becomes a part of the Property and which contains at leas#orre Unit. .6 "Bvlaws" means the Bylaws governing the operation of the Associatio , as amended from tirne to time. � .7 "Clty"means the city of Orono, Minnesota. .8 "Common Elements" means all parts of the Property except the Units, inclu ing all improvements thereon. .9 "Common Exnenses" means ail expenditures made or liabilities incurred by r on behalf of the Association and incident to its operation, including Assessments and itemsotherwise identified as Cornmon Expenses in the Governing Docnment . .10 "Condominium" means the condominium created by this Declaration and kn wn as Stonebay of Orano Condominium. .I 1 "Declarant Control Period" means.the time period during which Declarant ha the exclusive right to appoint the members of the Baard,as described in Section [ . MPLS-Wo 95281.1 i 2 i I