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� ^ <br /> 6. Common Expenses. "Common expenses" means expenditures made or liabilities <br /> incurred by or on behalf of the association, or master association when so identified, <br /> together with any allocations to reserves" including, but not limited to, the following: ' <br /> Real estate taxes and governmental special and annual assessments levied against the <br /> Property until the units are separately assessed; premiums for any and all insurance <br /> maintained by the Association including any deductible or coinsurance amount not <br /> covered by insurance; charges for gas service chazges; legal and accounting fees; the <br /> unpaid portion of any assessment against a unit that is acquired pursuant to a mortgage <br /> foreclosure, or a deed in lieu of foreclosure, and not required to be paid by such acquirer; <br /> deficits remaining from any prior assessment period; the cost of all fidelity bonds <br /> required by the Board of Directors or the member; all costs for the maintenance, <br /> operation, alteration, improvement, repair and replacement of the common elernents; and <br /> any other expenses for the administration, operation and management of the Association <br /> and the Condominium determined and assessed by the Board of Directors of the <br /> Association from time to time. <br /> 7. Condominium. "Condominium" means a common interest community in which {i) <br /> portions of the real estate are designated as units, (ii) the remainder of the real estate is <br /> designated for common ownership solely by the owners of the units, and (iii) undivided <br /> interests in the common elements aze vested in the unit owners." Specifically, as the term <br /> is used herein, it shall mean and refer to the Property which is hereby being established as <br /> a common interest community to be known as "LAKE MINNETONKA MEADOWS, <br /> Common Interest Community Number 2035, A Hennepin County, Minnesota <br /> Condominium". <br /> 8. Declarant. "Declarant" means and refers to Loon Homebuyers, LLC. <br /> 9. First Mortgagee. A person owning a security interest in any unit by virtue of a mortgage <br /> filed against it, which mortgage is first in priority upon foreclosure to all other mortgages <br /> which may affect such unit, or a lender in possession of a unit following a default in a <br /> first mortgage, a foreclosure proceeding or any deed or other arrangement in lieu of <br /> foreclosure. <br /> 10. Limited Common Element. "Limited common element" means a portion of the <br /> common elements allocated by the declazation or by operation of Section S15B.2-102(d) <br /> or (� for the exclusive use of one or more but fewer than ail of the units." Section 11 of <br /> Article II hereof allocates those limited common elements nat specifically described in <br /> Section S 15B.2-109 (d) and (fl of the Act, if any at all, to specific units or group(s) <br /> thereof. Section S15B.2-102(d) or(� for the exclusive use of one or more but fewer than <br /> all of the units." Section 11 of Article II hereof allocates those limited common elements <br /> not specifically described in Section S 15B.2-102(d) and (fl of the Act, if any at all, to <br /> specific units or group(s) thereof. Section S15B.2-102(d)of the Act provides as follows: <br /> "If any chute, flue, duct, wire conduit, bearing wall, bearing column, or any other <br /> fixture lies partially within and partially outside of the designated boundaries of a <br />