7.1 Annual Assessments

Members are obligated to pay the assessments imposed by the Association to meet all common expenses of the Property as set forth in the Declaration. The Board of Directors shall act to establish, assess, collect and expend such assessments as therein provided.

7.2 Rules and Regulations

The Board of Directors may, from time to time, adopt such rules and regulations (in addition to the restrictions set forth in the Declaration) as may be required for the use, occupancy and maintenance of the Lots and Common Areas, and when so adopted, such rules and regulations shall be binding upon all of the Members and occupants of Lots. Such rules and regulations shall be consistent with the Declaration and Bylaws, and, to the extent they are inconsistent, the rules and regulations shall be invalid. The Board of Directors may from time to time amend any such rules and regulations.