HomeMy WebLinkAbout0962 regulations from time to time prescribed by the Internal Revenue
Code of the United States of America at such time as the Board of
Directors deems it advisable.
E. Co-mingling of Funds. All sums collected by the
Association from assessments may be co-mingled in a single fund or
divided into more than one fund as determined by the Board of
Directors.
ARTICLE X
COMPLIANCE AND DEFAULT
A. Violations. In the event of a violation (other than
the non-payment of assessments) by the Unit Owner of any of the pro-
visions of the Amended Declaration of Covenants, Restrictions and
Easements, these Amended By-Laws ar the Amended Articles of Incorp-
oration, the Association, by direction of its Board of Directors, may
notify the Dwelling Unit Owner by written notice of said breach,
transmitted by mail, and if such violation -shall continue for a period
of thirty (30) days from the date of the Notice, the Association,
through its Board of Directors, shall have the right to treat such
violation as an intentional, and material breach of the Amended
Declaration, the Amended Articles, or these Amended B_y-Laws and the
Association may then, at its option, have the following elections:
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(1) An action to recover damages on behalf of the
l Association or on. behalf of the other Dwelling Unit Owners;
(2) An .action for specific performance.
(3) An action for such other equitable relief as
may be appropriate, including, but not limited to injunctive relief
and lien foreclosure.
Any violations which are deemed by the Board
of Directors to be a hazard to public health may be corrected im-
~ mediately as an emergency matter by the Association.
The costs to the Association caused by such
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violation or default shall be charged to the Dwelling Unit Owner as
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a specific item, which shall be a lien against said Dwelling Unit
and enforceable in the same manner as set forth in the Amended
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X331 P~ 962
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