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Home My WebLink About0707 ' ! ~ compromise~liens in such amount or amounts as it deems advisable in its aole discretion and may satisfy liens of record and render statements as to = current status of a Unit Cwner's assessments. Any lien for any reason ~ filed by the Manaqement Firm against an Interva.l Cwner ia such, shall be 1 limited to Unit V~'eeks owned by the defaulting Interval Cwner and shall, in no { case, be flled so as to encumber the U nit Weeks owned by ~any other Interval ~ Cwner in such parcel. ~ T L ECTICN 8. The Manaqement Firm shall have sole right~ to ~ollect and hold ; ; ~in depo~itories and Pay out in its discretion and by whatever schedule it sha.ll ~rS~MENT~ see fit all assessments (both regular and special) paid by the Unit Cwners or which are required to be paid by the U,nit Cwners to the A~socia.tion as pro- j vided for in the L~eclaration (unless otherwise specified therein). The € ~ - Associa.tion shall aid and assist the Management Firm in any reasonable ' ~ manner requested by the Management Firm as to collection of assessments and the Association stiall further aid and assist the Management Firm in any ' reasonable manner required by the M~.na.gement Firm so as to simplify the method of c~llecting the monthly aGsessments or specia,l assessments due from the U nit Cwners. ..~_~::~AGE- 9. It is specifia.lly understood and ag'reed that the Marr~.gement ~'TdT FIRM Firm does not and sha.ll not undertake to pay common or special expenses T TG from its ~wn funds and shall only be required to perform its services and :l y` PENL' make disburseinents to the extent that, and so long as, payments received :T: CV4}N from assessments or other revenue, if any, of the Association are sufficient _l"~ ~,TL~S to pa.y costs and expenses of suc~ services and the amounts ~f such dis- - bursements. If it shall appear to the Management Firm that the assessments and other revenue, if any, of the A ssociation and its members is insufficient, the Management Firm shall forthwith determine such additional assessments as are required and advise Yne said A ssociation and its members who shall _ be responsible for forthwith pe.ying such assessments as are necessary so that the Mana qement Firm may have' sufficient funds to pas~ all common expenses. ~F- 10. It is specifica.lly understood and agreed that the Management ~~~`'T Firm shall perform all of the services required of it hereunder at no costs _ and expense whatsoever to itself, but solely at the cost and expense of the Atisociati~n and ~he members thereof. As ~ompPnsation, fee and profit for its services hereunder, the Management Firm shall receive a fee net and free from all charges and expenses of Seven and 5/10 5%) percent of the.total common expense and maintena.nce assessments, such amount to be designa.ted as the ''Management Fee, " The Management Fee shall be taken into cons~deration in setting the ~ommon expense and maintenanc~ f?e assess- ments. The Management Fee for ea~h condominium percel (and in such case for all Interva.l Cwnerships therein) shall commence as of the first c~.y of the m~nth foll~wing the date of deed, or at the titne the unit is certified ready for o~cupa.ncy by the project architect, whichever occurs first, from the L~eveloper to an initial purchaser (i.e., Unit Cwner of the applicable p3.rce1?. The L~eveloper, howe,~er, sha.ll not be required to pay any Manage- ment Fee to the Management Firm. The Mana.gement Firm s~ll have the riqht, in the event sufficient funds are not ava. ilable, to pay the Management ~ Fee, to itself, before other expenses are pa.id and without regard to whether or not sufficient funds remain to pay other expenses. t ; i 11. The Association shall not interfere with, nor permit, nor :=:TERrER- allaw, nor cause any of its officers, -directors or members to interfere F with the Manaqement Firm in the performance of ~s duties or the exercise of any of its powers or rights hereunder. W. R. SCOTT ^~*°~~~*~w 12. The Management Firm shall not be liable to the Association '°°`°`°""D°""`"°~ and/or its members for any loss or da.mage unless such loss or darr~aqe is = S'"""', ca,used by gross neqligence or wi~lful misconduct of the Marraqement Firm or au~a ~ 4~ ~IL ITY MII-~ ot ' < il~A r1A ^~ll~ r:T FLRM d~Ok '"''g ~~9 ~ , , _ - - : ~ ~ - ~ ,A_, ~ ~ K ~n , _ . , 3`a` ~~::Y~ ~ :