HomeMy WebLinkAbout2975 B . Power to Assess and Time for Assessments .
The condominium association (the "Section 2 Association") that shall
be formed to operate, administer and maintain the condominium presently `
planned for development upon that portion of the Future Development Property
more particularly described in Exhibit L hereto (nothing herein contained
shall be deemed to preclude additional lands from being submitted to the
condominium form of ownership as part of the same condominium as the lands
described on said Exhibit L) shall ~ have the power to and shall levy assess-
ments (the "Assessments") against all ~ Contributing Units located upon the
Future Development Property, which assessments shall be levied from time to
time as the .Board of Directors or other governing body (the "Board") of the
Section 2 Association determines that work is .required upon all or a portion
of the Roadways, .the Future Development Property Sewage System, the Future
Development Property Force Main, the Future Development Property Lift
Station and the Future Development Property Water System, or to the Future `
Development Property Drainage Easement, the costs of which are properly
within the definition of Operating Expenses . It shall be within the power of ~ '
the Board to determine what work is required and when such work is to be .
performed in order to keep all of the foregoing in good condition and repair .
Such Assessments shall be collected by the Section 2 Association, as herein-
after provided .
C: Amount of Assessment Against Each Contributing Unit.
Each Contributing Unit in existence at the time of each Assessment
shall be assessed for an amount equal to the quotient arrived at by dividing
the amount of the Section 2 Association's good faith estimate of the Operating
Expenses to be incurred for the work contemplated by the total number of
Contributing Units in existence at the time of the Assessment which is being
assessed for the Operating Expenses in question. Contributing Units shall
also be assessed for any additional sums needed by the Section 2 Association
for such Operating Expenses as well as amounts needed by the ~ Section 2
Association arising from the failure of any Contributing Unit or Units to pay
the Assessments thereon . If , after work has been completed for which an
Assessment had been made, there remains any unexpended funds from such
Assessment, such funds shall be retained by the Section 2 Association in a
separate account and shall be used to defray future Operating Expenses .
D. When Assessment is Payable; To Whom Payable.
The Assessment shall be paid by each Contributing Unit to the ~
Section 2 Association within fifteen (15) days from the mailing of notice (the
"Assessment Notice") thereof by the Section 2 Association to the address of
such Contributing Unit or such other address as the Owner thereof shall have
specified by written notice actually received by the Section 2 Association
prior to its mailing the Assessment Notice in question.
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E . Lien . ~ _
The amount of the Assessment against a Contributing Unit, together
with interest thereon at the highest rate allowed by law from the date due
until the date received by the Section 2 Association , and costs of collection ,
including, but not limited to, reasonable attorneys' fees through and including
all trial and appellate levels, are hereby declared to be a charge on, and a
continuing lien upon, that Contributing Unit. As to any condominium declared ~
upon any portion of the Future Development Property, the Assessment appli-
a cable to. the Contributing Units contained within or constituting a part of
such condominium shall be part of the Common Expenses of that condominium,
r and shall be collected by the condominium association formed with respect
thereto in the same manner, by the same procedure and to the same extent as
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RUDEN, BARN ETT, McCLOSKY 6 SCNUSTER, ATTORNEYS AT LAW, 25 SOUTH ANDREWS AVENUE, FORT LAUDERDALE, FLORIDA
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