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(f) As luny as Developer is in control of the
Association, the Association shall not impose an
assessment for any year greater than one hundred
fifteen percent (1150 of the prior f fiscal year' s
a~~sessnwnt without approval by a majority cif all
v~~l. my ul~~n?l~u~'a.
(g) tdotwithstanding anything in these t3y-Laws or tiie
Declaration which authorizes expenditures, no
single expenditure for the improvelaent of the
common elements exceeding $2,000.00 per annum shall
be made without the approval of seventy-five (75~)
of the membership, except for the repair of the
condominium property due to casualtyloss,
emergency repairs immediately necessary for the
preservation and safety of the property, for the
safety of persons, or as reyuired to avoid
suspension of any necessary service to the
condominium.
ARTICLE IY
CORPORATE SEAL
The seal of the Association shall gave inscribed thereon the
name of tt~e Association, the year of its organization, and the
words "Non-Profit". The seal may be used by causing it or a
facsimilie thereof to be impressed, affixed, reproduced or
otherwise.
ARTICLE X
DEFAULT
Section 1. Enforcement of Lien: In the event a unit owner
does not pay any sums, charges or assessments required to be paid
to the Association within thirty (30) days from the due date, the
Association, acting on its own behalf or through its Board of
Directors, may enforce its lien for assessments to which it is
entitled, in accordance with the Declaration and provisions of
law.
Section 2. Proceeds of Sale: If the hssociatiorz t;cco^:es
the owner of a unit by reason of foreclosure, it shall offer said
unit for sale and at such time as a sale is consummated, it shall
deduct from tt~e proceeds of said sale all sums of money due it for
assessments and charges, all costs incurred in the bringing of tt~e
foreclosure suit, including reasonable attorneys' fees, and any
and all expenses incurred in tiie resale of ttre unit, which shall
include but net be limited to advertising expenses, real estate
brokerage fees and expenses necessary for ttae repairing and
refurbishing of ttie unit. All monies remaining after deducting
tt~e foregoing items of expenses shall be returned to the former
owner of the unit.
Section 3. Violations: In the event of violation of the
w' provisions •~f tire: Declaration, ~~rticles ~~E Il~cori~oration c.~r tite_se
t3y-Laws, for thirty (30) days after notice from the Association to
the unit owner tc~ c:orrect ~~ai~j t~reac:i~ or V1ULdt1OIl, tt:l'
Association, on its c~wn behalf or through its Board of Directors,
;nay Briny approuriate action to enjoin such violation or may
enforce the [~r0~'1:~lOnS Of :~c71d cjOCUI??entS, OC maV SU•' iOr (lain?ge5,
e~»x 327 PACE 101`7
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