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shall be payable in annual, quarterly, or monthly installments or
in such other installments or at such time as may be determined
by the Board of Directors of the Association.
D. The Board of Directors of the Association shall
establish an annual budget in advance for each fiscal year and
such budget shall project all expenses for the forthcoming year
which may be required to accomplish the purposes of assessments
as set forth previously herein and the regular assessment
together with payment thereof shall be set in accordance with
such budget.
E. Should the Board of Directors at any time determine
in their sole discretion, or in the event of emergency, that
the assessments levied are or may prove to be insufficient to
pay expenses of the Association, the Board of Directors shall
have the authority to levy such additional or special assess-
ments or assessments as it shall deem necessary, on a uniform
basis as aforesaid, and to establish the time and manner for
payment of such additional or special assessments.
F. Upon adoption of the annual budget by the Board of
Directors, copies thereof shall be delivered to the members off`
the Association although the delivery of a copy to such
members shall not effect liability of such member for any
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assessment based on such budget.
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~ G. The funds, assets and property of the Association
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shall be treated as the separate property of the Association
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and applied to the payment of any expense of owning, maintaining,
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operating, improving or managing the Association's property,
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or property declared herein to be under the Association's
care, management and control and all other acts and duties
imposed upon the Association in this Declaration, the Articles
of Incorporation and By-Laws of AUttILIO ASSOCIATION, INC.,
although such funds, assets and property of the Association
a shall be held, used and expended by the Association solely for
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the benefit of its membership.
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la~i OPPICES OP RICHARD D. SNEEfl, dR., P. A.. 700 \'IRGIKIA A~ E\CE. SCITE 103-54"\ flA\H BLD[J.. PT. PIERCE, PLORIDA :f.'r3S0 (:10.;) •f6S-21'JO
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