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HomeMy WebLinkAbout1846 maintenance and the abatement of those nuisances as set forth in paragraph 5 of Article IV (3) special assessments for capital improvements to the Common Area as set forth in paragraph 6 of Article IV.. Such assessments shall be established and collected as hereinafter provided. _ 2, Collection Procedures. The annual and special assessments, together with_ interest thereon from the due date at the rate of ten percent (10=) per annum, costs of collection and reasonable attorney's fees shall tie a charge on the land and shall. be a continuing lien upon the property against which each such assessment is made. Bach such assessment, together with interest, costa and reasonable attorney's fees, shall also be the personal obligation of the person(s) who was the Owner of such property at the time when the assessment fell due. The personal obligation for delinquent asessments Shall. not pass to the Owner's successors in title, unless expressly assumed by such successors. - 3. Purpose of Assessments. The assessments levied by the. Association shall be for the purpose of promoting the health, safety and welfare of the residents in the Properties and for the utility service to, maintenance and. replacement of those improvements situated-upon the property and easements comprising the Common Area. Such assessments shall also be collected from any Owner who fails, refuses or neglects to maintain his Lot in a neat and orderly condition by keeping it free from- i j abandoned vehicles, accumulations~of trash or refuse or by permitting I other unsightly conditions to exist upon the Owners Lot. 4. Annual Assessments for Common Area Maintenance and Capital Improvements. Each owner shall remit to the~Association .the sum of $40.00 on June 1 of each year or such other date so designated by the. Board of Directors with the first such remittance being due.on June 1, 1981 or such other date so designated by the Board of Directors. Said sum shall be utilized to maintain utility service to and keep -in good order and repair the common area improvements that exist thereon. The unused balance of this remittance shall be held by the Association in an interest bearing escrow account and accumulated as a fund to be applied toward the cost of replacement of such improvements should such ceplacement become necessary at any point in time. 4 g~335 P,~Ei839 t 4-~=.