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1.24. "Mortgagee" means the beneficial owner, or any successors, assignees, or designees of the <br />beneficial owner, of an encumbrance on a Lot or Unit created by a Mortgage. <br />1.25. "Owner" means any person or entity (including, without limitation, a Sub -Association) <br />owning a fee interest in a Lot. <br />1.26. "Permitted Users" mean an Owner's agents, family members; tenants, guests, contractors, <br />customers and invitees. <br />1.27 "Property" means the real property in Snohomish County Washington, legally described <br />on the attached Exhibit A and any Additional Pi operty, but excluding any real property withdrawn b} <br />Supplemental Declaration. The Property shall not include any property owned by the City except to the <br />extent otherwise agreed by the Cit} in its sole discretion in a recorded instrument modifying this Master_ <br />Declaration. <br />1.28. "Rules and Regulations" means the rules and regulations adopted by the Board governing <br />the operation and use of the Property. <br />1.29. "Special Assessment" means an assessment levied by the Master Association against the <br />Members pursuant to Section 6.3. <br />1.30. "Sub -Association" means a non-profit corporation formed or to be formed to serve as the <br />governing association with respect to a project developed on one or more Lots and/or subdivision thereof <br />1.31. "Supplemental Declaration" means any amendment or supplement to the Master <br />Declaration duly executed andrecorded by Declarant. <br />1.32. "Turnover Meeting" means the meeting of the Owners called by the Declarant pursuant <br />to the Bylaws, to turn over control of the Master Association to the Class A Members. <br />1.33. "Unit" means a unit within a Condominium located on one or more Lots, however, this <br />definition shall not be interpreted to mean that there are any condominium units located on any Lots. <br />1.34. "Utility Local Improvement District" or "ULID" means a special assessment district <br />established and managed pursuant to RCW Chapter 36.94 or RCW 35.43, which authorizes all counties, <br />cities and towns to levy and collect assessments on all property that benefits from the ULID to pay for the <br />costs associated with it. As used in this Master Declaration, ULIDs shall include both local improvement <br />districts and utility local nnprovement districts, although the methods of funding those are different. <br />1.35. "Voting Member" means a representative selected (pursuant to applicable governing <br />documents) by the members of a Sub -Association, as provided in Section 3.5, to be responsible for casting <br />votes attributable to an} Sub -Association Lot(s) on matters requiring a vote of the Members. The term <br />"Voting Member" shall include alternate Voting Members acting in the absence of the Voting Member and <br />any Owners authorized to personally cast the votes for their respective Lots pursuant to Section 3.4. <br />2. DECLARATION <br />2.1. Purpose. The purpose of this Master Declaration is to govern the orderly, aesthetic <br />development of Riverfront, to make provision for services to the Common Area (including. without <br />limitation, the maintenance, repair, restoration, replacement, and improvement thereof), to establish the <br />5 <br />4864-8276-8240, v. 14 <br />