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ARTICLE IV MEMBERSHIP AND VOTING RIGHTS Section 1. Every Owner of a lot which is subject to assessment shall be a member of the Association. Membership shall be appurtenant to and may not be separated from ownership of any Lot which is subject to assessment. Section 2. The Association shall have two classes of voting membership: Class A. Class A members shall be all Owners with the exception of the Declarant and shall be entitled to one vote for each Lot owned. When more than one person holds an interest in any Lot, all such persons shall be members. The vote for such Lot shall be exercised as they among themselves determine, but in no event shall more than one vote be cast with respect to any Lot. Class B. The Class B member (s) shall be the Declarant and shall be entitled to three (3) votes for each Lot owned. The Class B membership shall cease and be converted into Class A membership when the total votes outstanding in the Class A membership equal or exceed the total votes outstanding in the Class B membership, but such conversion shall not affect the provisions contained n Article II hereof. ARTICLE V COVENANT FOR MAINTENANCE ASSESSMENTS Section 1. Creation of the Lien and personal Obligation of Assessments. Each owner of any Lot by acceptance of a deed, is deemed to covenant and agree to pay to the Association: (1) an Annual Assessment payable monthly, and (2) special assessments, for capital improvements, such assessments to be established and collected as hereinafter provided. The Annual and special assessments, together with interest, costs, and reasonable attorney's fees, shall, to the full extent permitted by law, be charged on the land and shall be a continuing lien upon the property against which each such assessment is made. Each such assessment, together with interest, costs, including fees for release of liens, and reasonable attorney's fees, shall also be the personal obligation of the person who was the Owner of such property at the time when the assessment fell due. Section 2. Purpose of Assessments. The assessments levied by the Association shall be used to promote the recreation, health, safety, and welfare of the property owners in the Properties; to improve the usability, efficiency, and operation of the Paris Industrial Park; and for the improvement and maintenance of the Common Area. (a) The Annual Assessment shall be divided between the Operating Fund and the Reserve Fund. Paris Industrial Park Development Covenants Page 5 of 20