HomeMy WebLinkAbout0084 conditions thereof, shall be effective unless an instrument signed by Members ~
- ~
,
entitled to cast two-thirds (2/3) of the v~otes of the membership has been recorded, ~
~
agreeing to such dedication, transfer, purpose or cotudition, and unless written ~
t
notice of the proposed agreement and action thereunder is sent to every Member '
i
at least ninety (90) days in advance of any action taken. `
ARTICLE V ~
i
(aOVENANf ROR MAINTENANCE ASSESSMENTS _
Section 1. Creation of the Lien and Personal Obligation of Assessn~ents. The
Developer for each Lot and Living Unit owned by him within The Properties hereby
covenants and each Owner of any Lot or Living Unit by acceptance of a deed therefor,
whether or not it shall be so expressed in any such deed or other conveyance, shall
be deemed to covenant and agree to pay to the Association: (1) annual assessments
or charges; (2) special assessments for capital improvements, such assessments to
be fixed, established, and collected from time to time as hereinafter provided. The ~
. i
annual and special assessments, together with such interest thereon and costs of
collection thereof as~hereinafter provided, shall be a charge on the land and shall :
4
S
i
be a continuing lien upon the property against which each such assessment is made. ~
E
Each such assessment, together with such interest thereon and cost of collection ~
_
thereof as hereinafter provided, shall also be the personal obligation of t~ie person `
;
who ~as the Owner of such property at the time when the ~sessment fell due. ~
Section 2. Purpose of Assessments. The assessments levied by the Association
~ shall be used exclusively for the purpose of promoting the recreation, health,
I 3
~ safety and welfare of the residents in The P~~operties and in particular for the ~
~
improvement and maintenance of properties, services, and facilities devoted to
~
~ this purpose and related to the use and en~oyment of the Common Properties and of
the homes situated upon The Properties, including, but not limited to the payment
of taxes and insurance thereon, and repair, replacement, including the cost of
labor, equipment, materials, management, and supervision thereof, and in addition ~
thereto, the cost of operating the street lighting system for the property owners.
~ Section 3. Date of Commencement of Annual Assessments: Due Dates. The
~
~ i
annual assessments provided for herein shall commence on a date (which shall be the i
~
~ first day of a month) fixed by the Board of Directors of the Associatioa herein
~
~ called the Date of Commencement. . ~
~ ~
Section 4. Basis and Maximum of Annual Assessments. From the date of
~
~ comwencement of annual assessments until the year beginning January 1, 1978, the
~
-4- . U k ~7'. PAGE 8~ ~
600K
~~r:~ ; - -
+ ; _
II ~~~25~ - .