HomeMy WebLinkAbout2853 E
for rhich the a~,aaamenta aYe made. Such aeses~ments shall be due
in monthly installme~ts, in advance, on-the fi;st day of each month
;
of the year for which the assessmenta are made. If an annual assess-
ment is not made as required, an asses~ment sha11 be presumed ~o
have been mada in the aawunt of the last prior assessment and monti~,ly
insta2lm~ents on such assessment shall be due upon each installa~ent
;
paya?ent date until changed by an amended assessment. In the event j
the annual assesament proves to be insufficient, the budget and ~
~
assessmenta may be amended at any time by the board of directors. ~
The unpaid assessment for the remaining rtion of the calendar ~
Po ~
year for which the amended assessment is made shall be due upo:: the #
I
date of the assessment or as determined by the board of directors.
The first assessment shall be detercnined by the board of directors
of the Association, ~rhich may include an ar~ount for working ca?i~s~.
6.4. Acceleration of assess~ent installments upon de~4ult. :
Zf a~nember shall be in default in the payment of an install~r.t
upon an assessment, the board of directors may accelerate the re:.~ain-
inq installments of the assessment upon notice to the member, ar:d t:e::
i
the unpaid balance of the assessment shall come due upor. the nate s~a~c;:
in the notice, but not less than (10) days after delivery of the :.c~~c~
to the unit owner, or not less than (20) days after the :aailir,g o:. suc;z
notice te him.by reqistered or certified mail, whichever sha12 first
occur.
;
• ,
6.5. Assessments for emergenciea. Assess~ents for ~
c
common expensea of emergencies that cannot be paid from the ~:r.;:a~ ;
assessments for common expenses shall be made only after notic2 cf
the need for such is qiven to the members. After such notice a.zd
i
upon appzoval in writing by persons entitled to cast more tt:a:. one-
half of the votea of the members, the assessment shall becone e~fectiva, ~
s
aad it shall be due after thirty days' notice in such na:.ner ss t:e ~
:
j
board of directors of the Association may require in the notice of 3
. ~
assessment.
6.6. The depository of the Association shall be such
bank oz banks as ehall be designated from time to tisse hy t:ce d~rectors
nnd in which the meneys of the Assaciation shall be deposited. Wit;~-
sou~ 218 P~~285~~0- t~i~
~ _
~
~~:1"' ~ ~ ' ~
_ ~ ..s ~