HomeMy WebLinkAbout0740 b . Al terat iog and Im_~r__o_v~e~ment . After the com-
pletion of the improvements included in the common elements
contemplated by this Declaration, there shall be no alteration
nor further improvement of common elements or acquisition of
additional common elements without prior approval in writing by
the record owners of all of the units; provided, however, that
any alteration or improvement of the common elements or
acquisition of additional common elements bearing the approval
in writing of the record owners of not less than 608 of the
common elements, and which does not interfere with the rights
of any owners without their consent, may be accomplished if the
owners who do not approve are relieved from the initial cost of
that alteration, improvement or acyuisition. The share of any
cost not so assessed shall be assessed to the other unit owners
in the shares that their shares in the common elements bear to
each other. There shall be no change in the shares and rights
of a unit owner in the common elements nor. in his share of
common expenses, whether or not the unit owner contributes to
the cost of the alteration, improvement or acquisition.
c. Disposition of Personal Property. Any personal
property acquired y t e Association may sold or mortgaged
or otherwise disposed of by the Association.
6. ASSESSMENTS. The making and collection of assess-
ments against unit owners for common expenses shall be. pursuant
to the ey-laws and subject to the following provisions:
6.1. SHARE OF COMMON EXPENSE. Each unit owner shall be
liable for a proportionate share of the common expenses, and
shall share in the common surplus, those shares being the same
j as the undivided share in the common elements appurtenant to
the units owned by him.
6.2. INTEREST; APPLICATION OF PAYMENTS. The portions of
assessments and installments on assessments that are not paid
~ when due shall bear interest at the rate of ten percent per
~ annum from the date when due until paid. All payments upon
account shall be applied first to interest and then to the
a assessment payment first due.
6.3. LIEN FOR ASSESSMENTS. Assessments shall be due and
payable on the €irst day o each calendar quarter of the year
for which assessments are made, or thirty (30) days after the
mailing to the unit owners of a statement for the assessment
coming due, whichever date shall last occur. The Association
shall record a Claim of Lien if an assessment shall remain -
unpa id for sixty ( 60 ) days after the same shal l become due and
payable as set forth above. No foreclosure judgment shall be
entered until at least thirty (30) days after the Association
yives written notice to the unit owner of its intention to
foreclose the lien to collect the unpaid assessment. The lien
for unpaid assessments shall secure reasonable attorneys' fees,
including but not limited to fees for appellate court
representation, incurred by the Association incident to the
collection of an assessment or enforcement of the lien.
~ saio~ 343 PaCE
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