SECTION EIGHT. "Declarant" shall mean and refer to Ammons, Inc. and those of its successors and assigns, if any, to whom the rights of Declarant are expressly transferred hereafter, in whole or in part, as set forth in the Declaration.

SECTION NINE. "Declaration" shall mean and refer to the Declaration of Covenants, Conditions and Restrictions applicable to the Properties recorded in the office of the Register of Deeds of Wake County, North Carolina.

SECTION TEN. "Amenities" shall mean the facilities constructed, erected, or installed on the Common Area for the use, benefit and enjoyment of members.

ARTICLE III
MEMBERSHIP

SECTION ONE. MEMBERS. Every person or entity who is a record owner of a fee or undivided fee interest in any Lot which is subject by covenants or record to assessment by the Association, including contract sellers, shall be a member of the Association. The foregoing is not intended to include persons or entities who hold an interest merely as security for the performance of an obligation. Membership shall be appurtenant to and may not be separated from ownership of any Lot which is subject to assessments by the Association. Ownership of such Lot shall be the sole qualification for membership. As evidence of each Owner's membership, each Owner shall deliver to the office of the Association a photocopy of the page(s) of his deed(s) which contains the name of the member and the Lot(s) owned by such member.

SECTION TWO. SUSPENSION OF MEMBERSHIP. During any period in which a member shall be in default in the payment of any annual or special assessment levied