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o • <br /> comprised of three members, one representative from each of the <br /> Lot owners. A husband and wife may not serve jointly on the <br /> Board. The initial members of the Board shall he: <br /> ' ( 5 ) The Board shall designate the party who shall be deemed to <br /> be Treasurer and agent for the Association for all purposes in <br /> dealing with the City of Everett for water related matters, <br /> except for approving extensions or changes in water service <br /> contracts with the City, and such items shall be referred to <br /> the Board of Directors. The Treasurer shall be responsible for <br /> payment of City of Everett Water billings from funds paid by <br /> the Three Lot owners, and for prorating water service billings <br /> among the three lot owners. <br /> The parties will each pay into the Treasurer' s Water <br /> Service Account the sum of $100.00 at the signing hereof to be <br /> used for payment of water service billings. The Treasurer will <br /> endeavor at all times to maintain a $300.00 balance in the <br /> Association checking account. Billings will be prorated <br /> equally among the three lot owners, without determination as to <br /> how much water each lot owner consumes from time to time, <br /> unless a separate meter is later installed for each of the <br /> three lots, by unanimous vote of the Board of Directors (at <br /> each lot owners expense) , to register water use to each lot. <br /> A If separate meters are late installed, the Treasurer shall read <br /> each water meter and keep water meter readings records, and <br /> prorate the City billing accordingly. The parties intend to <br /> itilize one master meter at the outset of water service. The <br /> cost assessed by the City for labor and material and for master <br /> water meter shall be borne equally among the three lot owners <br /> and such sum shall payable to the Treasurer within 10 days of <br /> billing for same. Any deposits that the City shall require as <br /> • a condition of the meter installation or as a condition of <br /> future water service shall be paid equally among the three lot <br /> owners, within 10 days of billing of same. <br /> Minimum billings as are billed by the City, even though <br /> there is no actual use of water by any of the lots, shall be <br /> paid in three equal shares. No lot shall be assessed for water <br /> service (except for period that there are no homes on any of <br /> lots and City has minimum billings for such period) until water <br /> service is required for that lot(s) for a single family <br /> residence on said lot(s ) , either a conventionally built home or <br /> mobile home. Billing by the Treasurer for water service to <br /> each of the lots shall commence upon a building permit or <br /> mobile home permit being issued by Snohomish County for each of <br /> the three lots, or upon commencement of site excavation for <br /> foundation work for each of the lots, or the moving of mobile <br /> , home onto each of the lots, whichever is the earlier date. It <br />