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B. Purpose of Assessment. The quarterly and special
assessments levied by the Association shall be used exclusively
for the improve:ent and maintenance of the Common Area, including,
but not limited to, the cost of taxes, labor, equipment,
materials, management, maintenance and supervision thereof, costs
of a .master television system, cost of all insurance (liability, '
workmen's compensation, medical, fire, windstorm, flood or any of
these that the Board of Directors may from time to time determine
to be necessary), as well as for such other purposes as are
permissible activities. _
C. Annual Budget and Equal Assessments. The Board of
Directors of the Association, after consideration of current costs
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and future needs shall establish an .annual budget and shall levy
assessments equally against the Dwelling Omits. The total
assessments shall equal the proposed budget. The levy shall bye in
accordance with Section G hereunder.
D. Special Assessments for Capital Improvements. In
addition to any quarterly assessment, the Association 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 costs
of any construction, reconstruction, unexpected repair or
replacement of a capital improvement as approved by the Board of
j Directors of the Association, provided that any such assessment ~
shall have the assent of two-thirds (2/3) of the members of the
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Association 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 thirty (30) days in advance and shall set
forth the purpose of the meeting.
~ E. Quorum for Any Action Authorized Under Section D.
The quorum required for any action authorized by Section D shall
be as follows:
At the first meeting called, as provided in Section
D hereof, the presence at the meeting of !!embers, or of proxies,
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~ entitled to cast sixty (608) percent of all the votes of the
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