HomeMy WebLinkAbout1163(c) f?ec~illar a~se~~sments shall t~~ ~:aid :?y tt~e r~cmbers on
, a qvarterly basis un~e~s t_h~ m~~m~F•rship shall
apprcve a differAnt ~eriod for payrnent.
(d) Special assessments. when rec~uii-ed by the Board of
Directors. shall be levied and p~id in the same-
ma~ner as regular assessments, unless the
Declaration of Condominium shall other~ise provide.
The t3oard of Directors may mak~ ,F~ecial assessments
in emergencies and upon such conditions as the
Roard ma}• authorize.
(e) ~•ahen the I3oard of Directoi-s has ~3~r_ermined the
amount of any assessn~ent, the SecrAtacy or
Treasurer shall t-ransmit a sta~c•ment of such
assessment. tb each ~condarr.i r.i um Fai-cel owner. Al l
assessments shall be rrade ~~ay~hle t.o and at the
office of the Association and upon request the
Secre~-ary or Treasurer sha12 give a receipt for
each payment made.
(f) Assessnents are necessarily tnade upon projections
and esrimates of the Roard of Directors, and may be
in excess of or less than the sums required to
meek the cash requirements of r.he Condor~inium, in
which event the 3oard of i~ir~ctors rray ._increase or
decrease the amount of an assessment, and make such
adjustment-s in cash or other~~ise, as they shall
~eem prooer, including the assessrrent ~4f each
~r~ember of his proportionare share of any
def iciency. t~ot ice of all changes in assessments
sha l l be g iven t-o al l uni *_ owners .
(g) ~:ssessm~nts shal] not include charges for utilities
secarately charge~ and metere~ to each condominium-
unit, nor charges for such alrP•-~tions, repairs,
rr,aintenance, improvements or decorating wikhin the
inrerior of any unit as are the obligation of the
~nit owner and not the obligatior. of the
Association. The Board of I~irectors may provide
certair. maintenance and repairs as would otherwise
be the obligation of the individual unit owners, by
fhe un~erta}:ing of co:~tracts ~i!h business
esra~lishments providing repair and maintenance
ser~~ices, and in such cases the cost or price of
st~ch contractual services ma}• be treated as a
cor.:mon expense and as~essed against. the members as
part of t-heir quar~erly maintenance. The specific
contracts or undertaki.ngs need not be submitted by
the Board of Directors t.o rhe membership for .
ap~roval once the membership has approved the
pr] ic~f of having a specif ic +yee of repair or
maint_enance undertaken by *_he T~ssociation ~ahich
would other~ise be the~ indi~-i_dual unir_ owners'
rPsponsibility.
(h) l:~sessments are due cn the dates stat-ed in the
n~t.i.ce of assessment, anci ~hereafter shall bear
inrerest ar ten (10~) percent per annum until
paid.
(i) :n the event an as~e~sment is net paid a•ithin
fifteen (15) days of the date it is due and
payable, the Association through t-he Board of
Directors, may proceed to enforce and collect said
~ssessment from the delinqLent os~ner in any manner
provided by the Condominiu~ Acr, the Declaration
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~~~x 346 Y~~E 1160
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