HomeMy WebLinkAbout1353 ~ - /
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and colloct assessments, and to maintain, repair and repiace tlio ~1
common ele.-nents and tho liraited comr,?on elements of the Condomini'um. , r''
Funds for the payment of comnon expenses shall be assessQd aqainst~
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the ur~it owners in the proportions of percentaqes qf sharinq common
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expenses as provided in the Declaration. Said assessmer?t shall ~ be .
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payable as ordered by the Board of Diroctors. Special Assossments', ~
should such be required by the Board of Directors, shall be levied
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in tne sane manner as hereir~before provided for regular assass- 1.'~ :i
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ments, and.shall be payable in the nanner detern?ined by the Board ~
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of Directors. : ~ ~ , ~
(b~ When the Board of Directors has 6etermined the amount of ~
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any assessment, the Treasurer of the Corporation shall mail or. :
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present to each unit ow~aer, a statement of said unit owner's ; ~
assessment. Al1 assessments shall be payable to tYie Treasurer
of the Corporation ar~d,~ upon request, the Treasurer shall qive
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Section 5. Application of Payments ano Co-~iingling of
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F'u~as All sums collected by the Association from assessments may.~:
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bQ co-~uingled in a single fund, or divided into moro than one fund,
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as dQterrained by tha Board ~ of Directors. All assessnent pa~ . ents ,
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' by a unit owner shall be applied as to interest, delinquencies,~:~; " •
k costs and attorneys' fees, other charqes, expenses or advances, ~
k as provided herein and in the Declaration of Condo~inium, and ~
~ qeneral or special assessr.ients in such manner as the Board of
~ Directors cietermines in its sole discretion.
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~ Section 6. Annual Audit An audit of accounts of the Asso- '
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° ciation shall be made annually by a Certified Public Account~nt,~
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and a copy of thQ Report shall be available for inspection by
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~ the memi~ers of the Office of the Association, not later than :
three months after the end of the•year for which the report is ~
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Saction 7. Acceleration of Assessment Installments Upon
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Daf_ ault If a unit owner. shall bo in default in the payment of
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an iA~tallment upon anX assessment, the noard of Directors may '~t..
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