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1' Colony of Stuart, and in particular for the improvement and maintenance of
~ Common Area and any easement in favor of the Association. including but not ~ ~
limited to, the cost of taxes, insurance, labor, equipment, materials, management, t
maintenance and supervision thereof, as well as tor such other purposes as are ;
'~ermissabie activities of, and undertaken by, the Association. '
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Section 3. Members Approval of Annual Assessments. Assessments
set by board must be approved by simple majority of inembers of the Association
i~ present at the meeting called to approve such assessments. ;
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Section 4. Uniform Rate of Assessment. All regular and special ' _
assessments shali be at a uniform rate for each lot in Bay Cotony of Stuart. ~ ~
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Section 5. Special Assessments for Capital Improvements and Major ; ~
Repairs. In addition to any annual assessments, the Board may levy in any ~
~ assessment year a special assessment, applicable to that year oniy, for the purpose !
; of defraying, in whole or in part, the cost of any construction, reconstruction, E. ;
unexpected repair or replacement of a capital improvement as approved by the ~ ~
Board of Directors of the Association, inciuding the necessary fixtures and ~ $
!s personal property related thereto, provided that any such assessment shali have ! ~
the assent of two-thirds (2/3) of the members who are voting in person or by ;
~ proxy at a meeting duly called for this purpose, written notice of which shall be +
sent to all membe: s at least thirty (30) days in advance and shall set forth the
p :~purpose of the meeting. ~
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~ Section 6. Date of ~ommencement of Annual Assessments: Due Date.
~ ;~The assessments for which provision is herein made shall commence on the date ;
~ or dates (which shall be the first day of a month) fixed by the Board of Directors ~
~ of the Association to be the date of commencement. On due date, any assessment ,
~ :i shall be payable in advance in monthiy, quarterly, semi-annual or annual install-
~ ments, as determined by the Board . }
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~ :3 - Section 7. Duties of the Board of Directors. The Bo3fa Qf Directors
~ of the Association shall fix the date of commencement, and the amour~of, the '
~ ~~assessment against each lot for each assessment period at least thirty (30) days ;
~ in advance of such date or period and shalt, at that time, prepare a roster of the
~ lots and assessments applicable thereto which shall be kept in the office of the
~ ;1Association and shall be open to inspection by the members of the Association. ~
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~ti~i~ ao ~o tn OVO?'~ ~wnPr c~ hlPrt thPrPtn nOt • ~
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later than seven (7) days after fixing the date of commencement thereof .
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The Association shall, upon demand at any time, furnish to any owner :
~ liable for s~id assessment a certificate in writing signed by an officer of the ~ r
~ ;~Association, setting forth whether said assessment has been paid. Such certificate
~ shall be conclusive evidence of payment of any assessment therein stated to have '
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~ i been paid . ~
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ii Section 8. Affect of Non-Payment of Assessment: the Lien, the ~
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~ ~~Personal Obligation, Remedies of Association. If any assessment is not paid on the ~
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O l. M. TATIOtt. LI?VWERS
ecur. ~SO PA. F S 0 R~~/~ P4tE
_ , ..v..~M PAIM BEACM, FLA. 33409 • TEl - BUVF
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