ARTICLE XIX

Section 1. Creation of the Lien for Assessments. Each Shareholder, by acceptance of a Share is deemed to covenant and agree to pay to the Corporation:

(i) annual assessments or charges, and

(ii) special assessments for capital improvements and for such other purposes as the Board from time to time deems appropriate, such assessments to be established and collected as hereinafter provided. The annual and any special assessments, together with any late charges, interest, costs and reasonable attorneys' fees shall be a charge on the Share and shall be a continuing lien upon the Share against which each such assessment is made and shall be a personal liability of each Shareholder.

Section 2. Purpose of Assessments. The assessments levied by the Board or the Corporation shall be used exclusively to promote the recreation, health, safety and welfare of the Shareholders; to improve and maintain the Ranch and to provide all other services and maintenance required of the Corporation and for such other and further purposes as the Board or a majority of the Shareholders may deem advisable.

Section 3. Annual Assessment. The Board shall have the responsibility of determining the annual assessment, and may take into account such expenses, taxes, or other charges as it deems appropriate. All properties or interests dedicated to and accepted by a local public authority shall be exempt from the assessments created herein. However, no land or improvements devoted to dwelling use shall be exempt from assessments, regardless of ownership.

Section 4. Special Assessments. In addition to the annual assessments authorized above, the Board may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Ranch, including fixtures and personal property related thereto, or for any other purpose to be determined by the Board, provided that any such special assessment shall have the assent of a majority of the votes of Shareholders who are voting in person or by proxy at a meeting duly called for this purpose. In its discretion, the Corporation may require that any assessment not be expended by the Corporation in the year of its collection or it may provide that the assessments be treated as a contribution to the capital of the Corporation in the following years and maintained in a separate capital account until expenditure of such funds is appropriate. The Corporation may, in its discretion, hold such assessment funds until the year in which the expenditure of such funds is appropriate.

Section 5. Notice for any Action Authorized under Sections 3 and 4. Written notice of any meeting called for the purpose of taking any action authorized under Section 3 or 4 shall be sent to all Shareholders of record as set forth in Article III. Any action under these sections shall require the approval by a vote of a majority of the Shareholders who are voting in person or by proxy at a meeting duly called for this purpose.

Section 6. Uniform Rate of Assessment. Except as described in Section 3 of this Article, both annual and special assessments shall be fixed at a uniform rate for each Shareholder. Each Shareholder shall be responsible for the payment of any and all real and personal property taxes levied by any taxing authority, which taxes shall be separate and apart from the assessments levied by the Corporation. In the event such taxes are to be included in the annual or special assessments, a separate uniform assessment shall be made for the general expenses of the Corporation and a separate assessment for the taxes shall be made.

Section 7. Date of Commencement of Annual Assessments: Due Dates. The annual assessments provided for herein commenced as to all Shareholders on January first (1st) of each year. The Board shall fix the amount of the annual assessment and shall notify the Shareholders of the amount thereof in January of each year. Written notice by way of invoice of the annual assessment shall be sent to each Shareholder of record, or to such other addressee as the Shareholder of record shall designate in writing to the Board. The due date for each assessment shall be established by the Board. The Corporation shall, upon demand, and for a reasonable charge, furnish a certificate signed by an officer of the Corporation setting forth whether the assessments on a specified Share have been paid.

Section 8. Effects of Nonpayment of Assessments: Remedies of the Corporation. Any assessment not paid within thirty (30) days from the due date shall incur a late charge; any assessment not paid within sixty (60) days from the due date shall incur an additional late charge and additionally any assessment not paid within ninety (90) days from the due date shall bear interest from the due date, compounded annually. Late charges and interest rates will be determined by the board. At any time after ninety (90) days from the due date, the Corporation may bring an action at law against the Shareholder(s) personally obligated to pay the same or foreclose the lien against the Share as a personal property lien pursuant to Utah law. No Shareholder may waive or otherwise escape liability for the assessments provided for herein by nonuse of the Ranch, abandonment of his/her Cabin or assignment of his/her voting right or right to use of the Ranch, or for any other reason. The Shareholder(s) of any delinquent assessment shall pay all costs of enforcement or collection of the assessment(s), including reasonable attorney's fees and court costs, with or without the filing of a lawsuit.

Section 9. Priority of the Lien for Assessments. The lien of the assessments provided for herein shall be prior to and superior to the lien of any lien or encumbrance. The sale or transfer of any Share shall not affect the assessment lien, and shall be subject to the same.