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Saction 5. Gifts: Tha board of directors may accept on be- ~
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'ha~,f of the corporation any contributiona, gifta, bequesta or }
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~~devise for the qeneral purpose or #he special purpoae of the corp-~
oration. ~
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Section 6. Detenaination of Assessments:
(a) The Board of Directors of the Corporation shall fix d
- ~ time ~he suun or sum~ m~cess _ and adequa e
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''for the common expenses of the condaminiu~n property.
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Conmon expenaea shall include expenses for the operation,
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;;maintenance, repair or replacement of the com~aon elements and the
~~limited com~?on elements, costs of cwcrying out the power and dut3e
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r+of the corporation, all insurance premiimns and expenses relatinq ,-j
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~~thereto, iricluding fire insurance and extended coverage, and any 1
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iiother expenses desiqnated ae common expenaes fran time to time, by~
`~the Board of Directors of the Corporation. The Board of Directorsi
~~is specifically empawered, on behalf of tlie corporation to make ~d
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;icollect aesessments, and to maintain, repair and repYace the camno
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~~elements and the limited camnon elements of the condcmini~. Fund~
;?for the payneent of co~maon expenses ahall be as9esaed aqainst the ~
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~junit o~wners in the proportions of percentages of sharinq ccmmon ~
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„ xp e as provided in the Declaration. Said assessrnent shall be~
:jpayable as ordered by the Board of Directors. Special assessments1!
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;~should such be required by the Board of Directors, shall be levied3
~!in the same manner as hereinbegore provided for regular aeseasment~,
ijand shall be payable in the manner detenained by the Board of Dire -
tors . _ .
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~ (b) When the Board of Directore has determined the amount~
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~:of any a~sessment, the Treasurer of the Corporation shall mail or ;
:`present to each unit o~wner, a statement of said unit o~mer's asses
::sment. All aasessments shall be payab2e to the Treasurer of the
°Ccrporation, and, upon request, the Treasurer shall gfve a receip
i;for each payment made to him.
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5YDH[Y ADLRR Section 7. licakion of Pn ents and Co-Min lin of Funds :
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