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, .: ., - • � shall be'owned, used, occupied, and conveyed subject to the covenants, restrictions, easem nts, � charges� and liens set farth herein, all of which shalt be binding upon all Persons ownin or acquiring any right, title, or interest therein, and their heirs,personal representatives, succes ors, and assi�gns. �� SECTION 1 _ � DEFINITIONS The fol�owin�words when used in the Governing Documents shali have the foilowing mear�ings (unless the context indicates otherwise): l.l "Act" means Minnesota Statutes Chapter S�lSB, known as the Minn�sota Common Interest Ownership Act,as amended. 1.2 "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. 13 "Association" means the Stonebay of Orono Condominium Associatio�, a ' nonprofit corporation which has been created pursuant to Minnesota Sta tes - Chapter 317A and Sectian S15B3-101 of the Act, whose members consist f all Owners. � 1.4 "Board" means the Board of Directors of the Association as provided for.i the Bylaws. . 1.5 "BuildinQ" means each structure which is or becomes a part of the Prope and which contains at leas#one Unit_ l.6 "Bvlaws" means the Bytaws governing the operation of the Associatior�, as amended from time to time. I � 1.7 "Citv"means the city of Orono, Minnesota. 1.8 "Common Elements" rneans all parts of the Property except the Units, incl ing all improvements thereon. 1.9 "Common Expenses" means all expenditures made or liabilities incurred by c�r on behaif ofthe Association and incident to its operation, including Assessment�and , items otherwise identified as Common Expenses in the Goveming Doc�ment�. '1.10 "Condominium" means the condominium created by this Declaration and krjown as Stonebay of Orono Condominiuzn. I �1.!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 6. MPIS-Walyd 9526 i.i i 2