HomeMy WebLinkAbout2501 _ - - . _
. ~
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 only, for the purpose of defraying, in whole or in part, the
cost of any construction, reconstruction, unexpected repair or
replacement of a capital improvement as approved by the Board of
Directors of the Association, including the necessary fixtures and
personal property related thereto, provided that any such assessment
shall have the assent of 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 members at least 30 days in advance
and shall set forth the purpose of the meeting.
Section 6. Date of Commencement 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 the due date, any assessment shall be payable in advance in
monthly, quarterly, semi-annual or annual installments, as determined
by the Board.
Section 7. Duties of the Board of Directors. The Board of
Directors of the Association shall fix the date of commencement and
the amount of the assessment against each lot for each assessment period
at least 60 days in advance of such date or period and shall, at that
~ time, prepare a roster of the lots and assessments applicable thereto
which shall be kept in the office of the Association and shall be
open to inspection by the members of the Association. Written notice
of the assesssment shall be sent to every owner subject thereto not
later than seven (7) days after fixing the date of commencement thereof.
The Association shall, upon demand at any time, furnish to any
owner liable for said assessment a certificate in writing signed
by an officer of the Association, setting forth whether said assess-
ment has been paid. Such certificate shall be conclusive evidence of
payment of any assessment therein stated to have been paid.
Section 8. Effect of Non-Payment of Assessment: The Lien, the
Personal Obligation, Remedies of Association. If any assessment is
not paid on the date when due, such assessment shall then become
_ l~ _
NULL ORIFnN Jt1I1I1tS i LLOIfp 488 P~1391
CNAStEREO ' `
n o. wx Sao. rosy ncwcc. rWRIDA a~sso - ?c~ch+oNC caos) ns~•~oo flf~ ~ j)Gjirj PAh~