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<br /> such lot against which each such assessment is made. Each
<br />. . such assessment, togettler with sucF int�erest thereon and
<br /> cost of collection thereof, as hereinafter provided, shall
<br /> also be the personal obligation of rhe person who was the
<br />. owner of such property at the time� when the assessment
<br /> � fell due.
<br />� � Section 2. Purpose of assessments. The assessments levied by
<br />� the Assuciation shall be ex�lusively for the purpose of promoting
<br />� the health, safety and welfare of the residents in LAFAYETTE RIDGE
<br />;-- and in particular for the impr�vement and maintenance of the Coc�snon
<br />� Froperties including the roads and drive installed on the Common
<br />� Properties to serve the lots in. LAFAYETTE RIDGE �:.0 the maintenance
<br />; � of sanitary sewer and water supply systems i:�stalled for the benefit
<br />� of the lots in LAFAXETTE RIDGE. No assessment may be levied for a
<br /> s`. capital impro��ement unless the capital improvement is authorized by `
<br /> R - -. all the members of the Association. The expenses assessable shall
<br /> - 'include but not be limited to, the payment of taxes, insurance, re-
<br /> pair, replacement and additions, and for the cost of labor, equipment,
<br /> materials, management and supervision. Any assessment of real estate
<br /> . taxes or special asses�ments levied against the Common Properties
<br />� �� � shall be divided equally among the lots and added to the assessments
<br /> provided for herein.
<br /> Section 3. Basis of annual assessments. The annual a�sessments
<br /> �hall be determined by the Board of the Association prior to the
<br /> beginning of any operating year, either fiscal or calendar. The
<br /> proposed assessments shall be transmitted to each member before the
<br /> #irst day of any said operating year. All assessments shall be pay-
<br /> able to LAFAY�TTE RIDGE HOMEOWPIERS ASSOCIATION and delivered to the
<br /> Treasurer.
<br /> Section 4. Special assessments for capital improvement, In
<br /> " addition to annual assessments, the Board of Direcbors may, when
<br /> authorized b�► all th.P members , in any assessment year levy a special
<br /> assessment £or the purpose of defraying in whole vr in part the cost
<br /> �- .�' - of any constructioz or unexpected repair or rep�acement of improvement
<br /> ' upon the common areas, including the necessary fixtures and personal
<br /> �< -=�� � - ���pr�perty relate3 thereto. � �
<br /> k�' ��, Section 5. Qu�rum. Far the purposes of this section, 60% of
<br /> , the members shall constitute a quorum an�3 any action to increase the
<br /> # ` .annual assessment or provide for special assessments must reGeive
<br /> = the affirmative votes of a simple m,jority of inembers who are voting
<br /> k� • -��. - in person or by proxy at a meEcing duly held for such purpose; pro-
<br /> vided, however, thaC if the required quorum is not forthcoming at
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