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HomeMy WebLinkAbout1715 , Section 6. Annual Audit. A~ audit of accounts of the Association shall ~ be made annually by a Certifiad Public Accountant, and a copy of the Report shall be availablc,for in- spection by the membe~s in the office of the Associa- tion, not later than th~ee months after the end of the year for which the repo~t is made. ; ~ R Section 7. Acceleration of Assessment Instail- ment upon Default. If a unit owner shall be in default in the pay- ment of an installment upon any assessment, the Board of Directo~s may accelerate the remai~ing monthly in- stallments for the fiscal year upon notice thereof to the unit owner and, the~eupon, the unpaid bala~ce of the assessment shall become due upon the date stated ~ in the Notice, but not less than fifteen (15) days ~ after the delivery of or maili~g of said notice to the unit-owner. No unit-shall be eligible for voluntary transfer untii and unless all assessments, dues, etc. have been paid. ARTICLE VI. SUBSTANTIAL AODITIONS OR ALTERATIONS There shall be-rto substantial additions or al- terations to the common elements or limited common elements unless the same are authorized by the Board of Directors and ratified by the affirmative vote of the membe~s casting ~ot less than 75~ of the~total votes of the unit~owners present at any regular or special meeting of the unit owners catled for that purpose. ~ ~ARTICIE V11. COMPLIANCE AND DEFAULT - ~ . ! Section l. Violations. In the event of a vio- ; ; lation (other than the nonpayment of an assessment) ! by the unit owner of any af t.he provisions of the Declaration or these By-Laws, or of the applicable portions of the Condominium Act, the Association, by di rect i on of i ts Board of Di rectors , may not i fy the unit owner by written notice of said breach, trans- mitted by mail, and if such violation shall continue . for a period of thi rty (30) days f~om the date of the notice, the Association, through its Bo~ad of Directors, shal) have the right to treat such violation as an intentional and inexcusable and material breach of the r Declaration, of the By-Laws or of the pertinent pro- ~ visions of the Condominium Act, and the Association ~ may then, as its option, have the following elections: ~ (1) An action at taw to recover for its damage on } ~ behalf of the Association or on behalf of the other ~ unit owners; (Z) an action in equity to enforce ~ performance on the pa~t of the unit owner; or (3) an action in equity for such equitable relief as may be ~ ~ ~ . . ~ ~ 33 . ~ ~i8~:+~i'?~ ~ ~ . ~ : ~nr. ..5 -.~.c.~r ~ _ - . ~k..i ,~.Fr?" _~v~ _ ~~.$~s. ~ ~ ~ c~ ~t`~ e.._.