HomeMy WebLinkAbout0499 -11-
two years from the date of the recording of the Declaration
of Condominium for INLET HOUSE CONDOMINIUN` APAR~NTS, INC.
in the public recozds of St. Luc~e County, Florida, or until
_ the Developer _elects to terminate its control of the Con-
dominium, whichever shall first occur, the Board of Directors
may omit from the budget all aiiuwances for contingencies and
re se rve s .
7. Copies of the budget and proposed assessments
shall be transmitted to each member on or before December 1
preceding the year for which the budget is made. If the
budget is amended subsequently, a copy of the amended budget-
shall be furnished to each member.
C. Assessments. Assessaents against the dwelling unit
owners for their share of . the items of the budget shall be
made for the calendar'year annuallp in advance on or before
December 20 preceding the year for which the assessments are
nade. Such assessments shall be due in two equal installments
on the first days of January and July of the year for which
the assessments are made. If an annual assessment is not made
as required, an assessment shall be presumed to have been made
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~ in the amount of the last prior assessment and semi-annual _
~ installments on such assessment shall be due upon each ~
installment date for payment until changed by an amended
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assessment. In the event the annual assessment proves to be
~ insufficient, the budget and assessments may be amended at any
time by the Board of Directors if the accounts of the amended ~
budget do not exceed the limitations for that year. Any
~ account that does exceed such limitation shall be subje ct to
~ the prior apprcval of the membership of the Association as
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~ previously required in these By-I,aws. The unpaid assessment
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for the remaining portion of the calendar year for which the
33 amended assessment is made shall be due upon the date of the ~
~ assessment if made on or after July 1; and if made prior to ;
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Jul 1, one-half of the increase shall be due upon the date of the
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asses~nent and the balance of the assessment upon the next July 1.
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