HomeMy WebLinkAbout2478 assessments undertaken as an iacident to a merger or consolidation in which the
Association is authorized to participate under its Articles of Incorporation and
under Article II, Section 2 hereof. -
Section 7. Quorian for Any Action Authorized Under Sections S and 6. The
quorum required for any action authorized by Sections S and 6 hereof shall be as
follows:
At the.first meeting called, as provided in Sections S and 6 hereof, the presence
at the meeting of Members, or of proxies, entitled to cast sixty (60) per cent of
all the votes of each class of inembership shall constitute a quorum. If the re-
quired quorum is not forthcoming at any meeting, another meeting may be called,
subject to the notice requirement set forth in Sections S and 6, and the required
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quorum at any such subsequent meeting sha11 be one-half of the required quorum ~
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at the preceding meeting.
. Section 8. Duties of the Board of Directors. The Board of Directors of
the Association shall fix the Date of Conmmencement and the amount of the assess-
ment against each Lot or Living Unit for each assessment period~of at least thirty
(30) days in advance of such date or period and shallr, at that time, prepare a
roster of the properties and assessments applicable thereto which shall be kept in :
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the office of'the Association and shall be open to inspection by any Owner. ~
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i'ritten notice of the assessment shall thereupon be sent to every Owner subject ~
I thereto. '
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E ~e Association shall upon demand at any time furnish to any Owner liable for said
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~ assessment a certificate in writing signed by an officer of the Associ~tion, set-
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~ ting forth whether said assessment has b een paid. Such certificate shall be con-
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~ clusive evidence of payment of any assessment therein stated to have been paid.
Section 9. Effect of Non-Payment of Assessment; ltie Personal Obligation
of the Owner; The Lien~ Remedies of Association. If the assessments are not paid
on the date when due (being the dates specified in Section 3 hereof), then such
~ assessment shall become delinquent and shall, together with such interest thereon
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~ and cost of collection thereof as hereinafter provided, thereupon become a con-
= tinuing lien on the property which shall bind such property in the hands of the
~ then Owner, his heirs, devisees, personal representatives and assigns. The
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personal obligation ot the then (h~ner to pay such assessment, however, shaii remain
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his personal obligation for the statutory period and shall not pass to his suc-
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~ cessors in title unless expressly assumed by them. :
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