11-28-2016 Council Packet - Laserfiche WebLink

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1.3 "Board" means the Board of Directors of the Association as provided for in the Bylaws. 1.4 "Bylaws" means the Bylaws governing the operation of the Association, as amended from time to time. 1.5 "Common Area" means Outlot B identified on the Plat and all other parts of the Property hereafter conveyed to the Association or otherwise owned by the Association and made a part of the Common Area, but Common Area does not include Outlot A. 1.6 "Common Expenses" means and include all expenditures made or liabilities incurred by or on behalf of the Association and incident to its operation, including without limitation allocations to reserves and those items specifically identified as Common Expenses in this Declaration or Bylaws. 1.7 "Eligible Mortgagee" means any Person owning a mortgage on any Lot, which mortgage is first in priority upon foreclosure to all other mortgages that encumber such Lot, and which has requested the Association, in writing, to notify it as set forth herein. 1.8 "Governing Documents" means this Declaration, and the Articles of Incorporation and Bylaws of the Association, as amended from time to time, all of which shall govern the use and operation of the Property. 1.9 "Lot" means each separate legal lot identified on the Plat (excluding the Common Area) as the Plat may be amended, revised, or further replatted from time to time, provided that the Lots shall only include portions of the Property. 1.10 "Member" means all persons who are members of the Association by virtue of being Owners as defined in this Declaration. The words "Owner" and "Member" may be used interchangeably in the Governing Documents. 1.11 "Occupant" means any person or persons, other than an Owner, in possession of a Lot. 1.12 "Outlot All has the meaning assigned to it in Section 13.8 below. 1.13 "Owner" means a Person who owns a Lot, but excluding contract for deed vendors, mortgagees and other secured parties. The term "Owner" includes, without limitation, contract for deed vendees and holders of a life estate. If more than one Person constitutes the Owner of a Lot, all such persons shall decide between or among themselves how to vote in any vote of the Owners of the Lots as further set forth in the Bylaws, and the Owner of each Lot shall be entitled to only one vote for each Lot owned by that Owner. 1.14 "Person" means a natural individual, corporation, limited liability company, partnership, trustee, or other legal entity capable of holding title to real property. 1.15 "Plat" has the meaning assigned to it in the Recitals set forth above. 1.16 "Property" shall have the meaning assigned to it in the Recitals set forth above. 2 188927v1