HomeMy WebLinkAbout1135 i
(a) From and after January 1 of the year immediately
following the conveyance of the first Parcel to an Owner, the ~
maximum annual assessment may be increased each year not
more than 3% above the maximum assessment for the previous ~
year without a vote of the membership. ~
(b) From and after January 1 of the year immediately ~
following the conveyance of the first Parcel to an Owner, the
maximum annual assessment may be increased above 3% by a vote
of two-thirds (2/3) of each class of members who are voting . ~
in person or by proxy, at a meeting duly called for this
purpose.
(c) The Board of Directors may fix the annual
assessment at an amount not in excess of the maximum. -
' Section 4. S ecial Assessments for Ca ital Im rovements.
In addition to the annua assessments aut orize a ove, t e
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 cost of any construction, reconstruction,
repair or replacement of a capital improvement upon the Common
Area or the Association's maintenance obligations herein, `
including fixtures and personal property related thereto, provided ~
that any such assessment shall have the assent of two-thirds (2/3) of
the votes of each class of members who are voting in person or by
proxy at a meeting duly called for this purpose.
Section 5. Notice and uorum for An Action Authorized
y ~
Under Sections 3 and 4. Written notice o any meeting cad e~C
or t e purpose o to ing any action authorized under Section 3
or 4 shall be sent to all members not less than 30 days nor ~
more than 60 days in advance of the meeting. At the first such
meeting called, the presence of members or of proxies entitled ~
to cast sixty percent (60%) of all the votes of each class,
of membership shall"constitute a quorum. If the required
quorum is not present, another meeting may be called subject
to the same notice requirement, and the required quorum at
the subsequent meeting shall be one-half (1/2) of the required
quorum at the preceding meeting. No such subsequent meeting
shall be held more than 60 days following the preceding meeting.
Section 6. Uniform Rate of Assessment. Both =
annual and special assessments must a ixe at a uniform
. rate for all Parcels and may be collected on a monthly basis. .
Section 7. Date of Commencement of Annual Assessments:
Due Dates. The annual assessments prove a or erein s a~
commence as to all Parcels on the first day of the month follow-
ing the conveyance of the Common Area. The first annual
assessment shall be adjusted according to the number of
months remaining in the calendar year. The Board of Directors
shall fix the amount of the annual assessment against each
Parcel at least thirty (30) days in advance of each annual
assessment period. Written notice of the annual assessment
shall be sent to every Owner subject thereto. The due dates
shall be established by the Board of Directors. The Association
shall, upon demand, and for a reasonable charge, furnish
a certificate signed by:an officer of the Association setting
forth whether the assessments on a specified Parcel have been
paid.
Section 8. Effect of Nona ent of Assessments: Remedies
of the Association. Any assessment not pai wit in t arty
ays a ter t e ue date shall bear interest from the due date
at the rate of 6 percent per annum. The Association may
bring an action at law against the Owner personally obligated to
pay the same, or foreclose the lien against the property. No
Owner may waive or otherwise escape liability for the assessments
provided for herein by non-use of the Common Area or abandonment
of his Parcel.
_ g _ snoK PAGE 1122