HomeMy WebLinkAbout0991 ~ t
-11_
t~ro years from the date of the re corditlg of the De claration
of Condominium for INLET HOUSE CONDpKINIUM APARTMENTS, INC.
in th~e public reco~ds of St. Lucie Courity, Florida, or until
Lhe Developer elects to terminate its control of the Con-
dominium, whichever shall first occur, the Board of Directors
may omit from the budget all alloxances for contingencies and
reserves.
7. Copies of the bud,~,et and proposed assessments
shall be transmitted to each member on or before December 1
preceding the year for Khich the budget is made. If the
budget is amended subsequentlp, a copy of the amended budget
shall be f~rnished to each member.
C. Assessmenta. Assessments against the dwelling uriit
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
rade. Such assessments shall be due in two equal installments
on the first day s of Januarq and Julp of the year for Khich -
the assess:r.ents are made. If an annual assessment is not made
as. required, an assessment shall be presumed to have been made
in the amount of the last prior assessment and semi-annual
installnents on such assessmsnt shall be due upon each
installment date for papment until changed by an amended
assessraent. In the event the annual assessment proves to be
insufficient, the budget and assessments may be atr,ended at any
time by the Board o~ Directors if the accounts of Lhe amended
budget do not exceed Lhe limitations for that year. Any
;
account that does exceed such limitation shall be subject to 1
,
~
the prior approval of the membership of the Asaociation as i
<
previously required in these By-Laxs. The unpaid assessment '
for the remaining portion of the calendar year for which the
amended assessment is made shall be due upon the date of the
assessment if nade on or after July 1; and if made prior to
July 1, one-half of the increase ahall be due upon the date of the
assessnent and the balance of the assessment upon the next July 1.
i~ ~~8
~ _ ~3 _
~
~,~~.r~~~..~ ~ -
W . . _ f ~r~ ~ _