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a. Cause to be kept a complete record of all of its acts and corporate affairs and to present a <br />summarized statement thereof to the members at the annual meeting of the members, or at any special <br />meeting when such statement is requested in writing by one fourth (1/4) of the members who are <br />entitled to vote. <br />b. Supervise all officers, agents and employees of the Association and see to it that their duties are <br />properly performed. <br />c. To provide for and supervise the care, upkeep and surveillance of the common areas, property and <br />facilities. <br />d. Procure and maintain adequate liability and hazard insurance on property owned by the <br />Association. <br />Section 5. Dues. Each member shall be required to pay annual dues to RIVERTON COTTAGES at the time, <br />frequency and manner and in the amount fixed by the Board of Directors. Failure to pay dues will result <br />in sanctions as set forth in Article VIII. <br />ARTICLE VI <br />Assessments <br />Section 1. Type of Assessments. Assessments may fall into one or more of the following classes: <br />(A) Capital Assessments. Assessments, the proceeds of which are accumulated in trust over a specified <br />period of time, to be used in the construction of certain capital improvements. <br />(B) Loan Assessments. Assessments used for the purpose of amortizing monies borrowed for <br />constructing, installing, or acquiring certain improvements or for furnishing of other services to the <br />members. <br />(C) Service Assessments. (1) Assessments imposed upon an individual member of RIVERTON <br />COTTAGES by reason of certain special services rendered such member, and (2) A deposit required of <br />any individual member now renting, or before renting his or her property, against which RIVERTON <br />COTTAGES may draw to cover the costs of services rendered to such member or fines accrued by the <br />member or the member's tenant. <br />(D) Emergency Assessments. Emergency assessments required by reason of common disaster or <br />special necessity, or any circumstance that may threaten the health, safety or welfare of any part of the <br />community. <br />Section 2. Purpose of Assessments. The purpose of assessments shall be: <br />a. To promote the recreation, health, safety and welfare of the members of RIVERTON COTTAGES. <br />b. For construction, improvement and maintenance of the common areas and facilities. <br />M <br />