HomeMy WebLinkAbout0371 vided, shol! also be th~ personal obligotion of the person or persons who vios or wcte the O~vner
oE such proper~y at #~:e ~ime when the assessment became due,
Section 2. Purpose of Assessmenfis. The assessments {evied by the Assoc:ation shall
be used exclusivel~• for the purpose of promoting the recreation, health, safety, and welfare of the
residents in the Properties and in particular for the improvemeht ancl maintenance of properties,
services, and facilities devoted to this pur~ose and r~lated to the use enc! enjoyment of the Common
Properties and of the homes situated upon the Properties, including, but not limitecl to, the payment
of taxes ond insurance thereon, and repair, replacement, and additions thereto, and for ths cost
of (abor, equipment, malerials, manac~ernent, and supcrvision thzreof,
Section 3. DaFe oi Co:r~m~ncement of Annual Assessmenfs: Due Da~es, 7he
annual assessments provided for herein shal) commence on a date (which sholl be the first day of
a month) fixed by the Bonrd of Directors of the Association herein called the Date of Cornmenc~:rr.ent.
The first annuol assessment sh~l) be levied foc the balance of the calendar yeor in
which it is imposed, anci shaii become due and paya~le on the Date of Commencement. The asssss-
I ments for any year, aFter t!~e first year, shall become due and ~~yable on tne first day of Atiarch
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~ of said year.
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~ The amount of the first annuol assessment sho11 bz an amount ~vhich b~ars the same
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rela~ionship to the ai•~nual ass~ssment provided for in Section 4 hzreof as the number of mo~ths ~e-
maining in the year of the first annual assessment (from and including the month of the Date of
Co:nmencement) bears to twelve.
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The wme reduction in the amount of the assessment shall apply to the ficst ussessmen~
i..vied against nny property which is hereaFter added to the properties no~v subject fio assessmant at
a time other than the beginning of any assessment periocf. The clue date of any special assessment
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u~~~r Section 5 hercof si-oll b~ f~xFd in the resolu~ion a~,;thorizing sucn cassessment.
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