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

2.  Rules and Regulations.  The Board of Directors may, from time to time, adopt such Rules and Regulations as may be reasonably required for the use, occupancy and maintenance of the lots, common areas and limited common areas and when so adopted, such Rules and Regulations shall be binding upon all of the lot owners and occupants of the property and shall be a part of these Bylaws.  The Board of Directors may from time to time amend any such Rules and Regulations.