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Glossary of Commonly Used Terms (continued):<br />

Management — The person or persons appointed by the Board, and delegated with the authority to<br />

implement certain duties, powers or functions of the Association as provided by the CC&R's and<br />

Bylaws.<br />

Master Plan — The <strong>master</strong> land use plan for the Community as approved by Clark County, Nevada,<br />

and as may be amended from time to time.<br />

Member — Every Owner is a Member of the Association, with all the benefits, privileges, and<br />

responsibilities defined in the Governing Documents.<br />

Neighborhood — Any residential area within the Association, <strong>design</strong>ated by the Declarant, which<br />

may share benefit from Common Elements specific only to that Neighborhood and may also share<br />

expenses through assessments for the cost of maintenance of such primary or exclusive use<br />

areas.<br />

Owners — One or more persons, which may include the Declarant or a Participating Builder, who<br />

hold the record title to any Lot, but excluding in all cases any party holding an interest merely as<br />

security for the performance of an obligation (such as a bank holding a security interest in a Lot<br />

related to a mortgage on the Lot).<br />

Participating Builder (or Builder) — Any entity who purchases one or more parcels of land within the<br />

Community for further subdivision into Lots, development, and/or resale in the ordinary course of<br />

business.<br />

Residents — Any person who is physically residing in a Dwelling within the Community.<br />

Resolution — Written and adopted decision of the Board of Directors regarding the business<br />

operations or governance of the Association. The Board adopts the Resolution at a duly noticed<br />

meeting and copies of the adopted Resolution are then mailed to all Owners.<br />

Rules and Regulations — See "Community Standards".<br />

Sub-Association — A Neighborhood within the Community subject to secondary governing<br />

documents which control governance of private streets and Common Elements and is also subject<br />

to the Association and it's Governing Documents. Owners in Sub-Associations are subject to two<br />

sets of legal documents and pay two assessments.<br />

Tenants — One or more persons residing in a Dwelling within the Community by means of a lease<br />

between an Owner and the Tenant.<br />

Unit — See "Lot".<br />

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