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State of Minnesota and Minnesota Statutes Section 515B.3-101,whose Members consist <br /> of all Owners as defined herein. <br /> 2. "Board"shall mean the Board of Directors of the Associafion as provided for in the By- <br /> Laws. <br /> 3. "BY�Laws•,shall mean the By-Laws governing the operation of the Association,as <br /> amended from time to time. <br /> 4. "Common Elements"shall mean all parts of the Property except the Units, including all <br /> improvements thereon,owned by the Associafion for the common benefit of the <br /> Owners and Occupants. The Common Elements are legally described in Exhibit B <br /> attached hereto. <br /> 5. "Common Ex e�nses"shall mean and include all expenditures made or liabilifies <br /> incurred by or on behalf of the Association and incident to its operation, including <br /> without limitation allocation to reserve those items specifically identified as Common <br /> Expenses in the Declarafion or By-Laws. <br /> 6. "Dwellines"shall mean a part of a building consisting of one or more floors,designed <br /> and intended for occupancy as a single-family residence,and located within the <br /> boundaries of a Unit. I <br /> 7. "Elieible Mortgaeee"shall mean any Person owning a Mortgage on any Unit,which �, <br /> Mortgage is first in priority upon foreclosure to all other Mortgages that encumber such ' <br /> Unit,and which has requested the Association, in writing,to notify it regarding any % <br /> proposed action that requires approval by a specified percentage of Eligible Mortgagees. <br /> i <br /> 8. "Governine Documents"shall mean this Declaration,and the Articles of Incorporation <br /> and By-Laws of the Association,as amended from time to time,all of which shall govern I <br /> the use and operation of the Property. ! <br /> 9. "Limited Common Elements"shall mean all parts of the Common Elements that are <br /> reserved for the exclusive use of the Owners and Occupants of the Units to which they <br /> are allocated from the Property except the Units. <br /> � <br /> 10. "Living Unit"shall mean any platted lot subject to this Declarafion upon which a i <br /> Dwelling is located or intended to be located,as shown on the Plat,including all <br /> improvements thereon,but excluding the Common Elements. <br /> 11. "Mana�ement A�ent"shall mean the person, persons,or service company,if any, hired <br /> or appointed by the Associafion to manage the Property from time to time. <br /> 2 <br />