Covenants and Restrictions for Villages at Eastmoore Subdivison

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24. COVENANTS FOR MAINTENANCE ASSESSMENTS: A. Creation of Lien and Personal Obligation of Assessments. The Developer, being the owner of Villages at Eastmoore Subdivision, hereby covenants, and each subsequent owner by acceptance of a deed of conveyance, shall be deemed to covenant and agree to pay to the Villages at Eastmoore Subdivision Association hereafter referred to as the Association: (1) Annual assessments or charges. (2) Special assessments for common area improvements, such assessments to be fixed, established and collected from time to time as hereinafter provided, shall be a charge on the land and shall be a continuing lien upon the property against which assessment is made. Each such assessment, together with such interest thereon and cost of collection thereof as hereinafter provided, shall also be the personal obligation of the person who was the Owner of such property at the time when the assessment fell due. The lien date shall be the annual assessment due date as set forth in Paragraph G. B. Purposes of Assessments: The assessments levied by the Association shall be used exclusively for t he purpose of promoting the recreation, health, safety and welfare of the residents in the Villages at Eastmoore Subdivision and in particular for the improvement and maintenance of properties, services and facilities devoted to this purpose and related to the use and enjoyment of the Common properties situated upon the development including, but not limited to, the payment of taxes and insurance thereof and repair, replacement, maintenance and additions thereto, and for the cost of labor, equipment, materials, management and supervision thereof. C. Basis and Amount of Annual Assessments: The original assessment pursuant to the By-laws of Villages at Eastmoore Subdivision shall be in the amount of $150.00 per each lot sold by the Developer, its representative or assigns by land contract or deed an assessment shall be distributed evenly against each lot. All such assessments shall be paid to the Treasurer of Villages at Eastmoore Homeowner's Association. In no event shall any assessment as provided below be levied against or be due from developer for any lots owned by it or otherwise. D. Special Assessments for Capital Improvements: In addition to the annual assessments authorized by Section C hereof, the Association may levy in any assessment year on each lot sold by the Developer, its representatives or assigns a special assessment, applicable to that year only, for the purpose of defraying, in part or in whole, the cost of any construction or reconstruction, unexpected repair or replacement of common area improvements, including the necessary fixture and personal property of related thereto, provided any such assessment shall have the affirmative of two-thirds (2/3) of the votes of all voting members who are voting in person or by proxy at a meeting duly called for this purpose, written notice of which shall be sent to all members at least thirty (30) days in advance and shall set forth the purpose of the meeting.