3(c) Conditional Use Permit "The Range" Resort Development LLC/Premier Homes

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Units for the purpose of defraying in whole or in part(i)the cost of any unforeseen or non- budgeted Common Expense, (ii)general or specific reserves for maintenance, repair or replacement,and (iii)the maintenance, repair or replacement of any part of the Property,and any fixtures or other property related thereto. Notwithstanding the foregoing,any special assessment shall be subject to approval by the vote of a majority of those Owners voting, in person or by proxy,at a meefing called for that purpose. Written notice of the meefing shall be sent to all Owners not less than 21 days, nor more than 30 days in advance of the meefing. 6.4 Capital Improvement Fund. The Association shall establish a capital improvement fund to meet expenditures for improvements to the Common Elements as approved by the Associafion. The funds shall be deposited into the Associafion's account,and Declarant may not use the funds to defray any of its expenses,reserve contributions,or to make up any budget deficit while Declarant is in control of the Association. 6.5 Liability of Owners for Assessment. The obligafions of an Owner to pay assessments shall commence at the later of(i)the recording of the Declarafion or amendment thereto which creates the Owner's Unit,or(ii)the time at which the Owner acquires title to the Unit,subject to the alternafive assessment program described in Section 6.7. The Owner at the fime an assessment is payable with respect to the Unit shall be personally liable for the share of the Common Expenses assessed against such Unit. Such liability shall be joint and several against each Owner if there are multiple Owners of the Unit. The liability is absolute and unconditional. No Owner is exempt from liability for payment of his or her share of Common Expenses by right of set-off,by waiver of use or enjoyment of any part of the Property,by absence from or abandonment of the Unit, by the waiver of any rights,or by reason of any claim against the Associafion or its officers,directors or agents,or for their failure to fulfill any duties under the Governing Documents or the Act. The Association may invoke the charges,sanctions and remedies set forth in Section 14,in addifion to any remedies provided elsewhere in the Governing Documents or by law,for the purpose of enforcing its rights hereunder. 6.6 DeclaranYs Alternative Assessment Program. Notwithstanding anything to the contrary in this Section 6,if a Common Expense assessment has been levied,any Unit owned by Declarant for initial sale shall be assessed at the rate of 25%of the assessment levied on other Units of the same type until a Certificate of Occupancy has been issued with respect to such Unit or the Unit is otherwise legally inhabitable. This reduced assessment shall apply to each Unit owned by Declarant at the fime that the Unit is crated,and shall continue until the issuance of the Certificate of Occupancy as previously described. There are no assurances that this alternative,assessment program will have no effect on the level of services for items set forth in the Associafion's Budget. There shall be no assessment on lots on which no Living Unit has yet be constructed. 6.7 Assessment Lien. The Associafion has a lien on a Unit for any assessment levied against that Unit from the time the assessment becomes due. If an assessment is payable in installments,the full amount of the assessment is a lien from the time the�irst installment thereof becomes due. Fees,charges, late charges,fines and interest charges imposed by the Association pursuant to Section 515.B3-102(a)(10), (11)and(12)of the Act are liens,and are enforceable as assessments, under this Section. Recording of the Declaration constitutes record notice and perFection of any lien under this Section,and no further recordaiion of any notice of or claim for the lien is required. 11