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HomeMy WebLinkAbout2457 . 1he sama reductian in•the amo~t of the assessoieat ahall apply to the firet aesesement levied againet any propertq vhich is hereafter added to the properties naw subject to assesement at a time other thaa the beginning of aay assesament period. ~ 1Ue due date of any special assessmeat under Section S hereof shall be fixed in 1 the resolution authorizing such assessment. Section 4. Basis and Maximum of Annual Assessments. From the date of commencement of annual assessments until the year beginaing January 1, 1983. the anaual assessment shall be SixCy Dollars ($60) per Lot or Livi.ng IInit. From ` - , and after January, 1983, the annual assessment may be adjusted by vote of the Members, as hereinafter provided, for the next succeeding three years and at the end of each auch period of three years for each suceeding period of three years. The Board of Dir~ctors of the Association may, after consideration of current maintenance costs and future needs of the Association, fix the actual assessment ~ for any year at a lesser amount. j Section 5. Special Assessment for Capital Improvements. In addition to the annual assessments referred to in this Article, the Association may levq ~ in any assessment year a special assessment, applicable to that year only, for ` the purpose of defraying, in whole or in part, the aost of any construction or reconstruction, unexpected repair or reglacement of a described capital impravement upon the Common Properties, including the necessary fixtures and personal property ~ related thereto, provided that any such assessment shall have the assent of two- ' thirds of the votes of each class of Members who are voting in person or bq proxq ~ ~ - ; , - ; at a meeting duly called for this purpose, written aotice of which shall be sent ~ to all Members at least thirty (30) days in advance and shall set forth the purpose ~ of the meeting. ~ ; Section 6. Change in Basis and Maximum of Annual Assessments. Sub~ect to ~ t ~ the limitations of Section 4 hereof, and for the periods therein specified, the ~ ; , Association may change the maximum and basis of the assessments fixed by Section 4 ~ hereof prospectively for any such period provided that any such change shall have ~ - ; the assent of two-thirds of the votes of each class of Members, who are voting in ~ • ~ ~ person or pro~cy, at a meeting duly called for this purpose, Written notice of ~ which shall be sent to all Members at least thirty (30) days in advance and shall ` ~ _ ~ ~ ~ set forth the purpose of the meeting, provided further that the limitations of i ~ ?i ~ , ~y Section 4 hereof shall not apply to any change in the maximum and basis of the ~ . ~ ~ ~ ~ ~ ~ ~ i ~ ~ ~ ~ ~ ~x ~ LLv~ Qn4~ 2451 ~ v`u p r;: ' o w - ~ - _ ' ,s j ~ _.ns' _ - . . . . . . _ . _