HomeMy WebLinkAbout1410 VI.
COM~ON EXPENSES AND COMMQN SURPLUS
A. 5u~ject to the qualification of Section ~VI, the
Comnon Expenses of the Condominium shall be shared b~ the Owners as
~ specified and set forth herein. The foregoing ratio• of sharing
Carmon E~penses and Assessments shall r~main regardless of the purchase
price of the Parcels, their location or the square footage included
in each Unit. Until Cessation of D~velopment no Parcel will be subject
to Condominium; however, expenses for the operation and maintenance
of the Parceis, all Carmon-Use Elements and Comnon Co-Use Areas will
be paid by the Condominium Parcel Owner_in the amount of 1/99 of the
total amount thereof payable monthly to the Developer sub~ect to
the provision of Section XVI hereof and the Developer shaii have the
power to assess and a lien therefor. This lien sha]1 include any other
amounts owing by the Qwner to the Developer. Included in such payment
will be the Developer's cost of accounting therefor.
B. 1/99th of any Cortmon Surplus'of the Association shail
be owned by each Unit Owner, subject to the qualifications of Section
XVI hereof.
VII.
METHOD OF AMENDMENT OF DECLARATION
A. This Declaration may be amended after Cessation of Develop-
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j ment at any regular or special meeting of the Owners called and convened
;
I in accordance with the By-I.~ws, by the affirmative vote of the Voting
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; members casting not less than three-fourths (3/4) of the total vote of
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