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operation and management of the Condominium by the Condominium
Association for the forthcominq year. Said annual budget shall
also project ttie share of said Common Expenses to be paid by
the owners of each Condominium Parcel in each condominium as
provided in the Declaration of Condominium anpertaining thereto.
Copies of the proposed budqet, including total assessments '
and assessment shares of the owners of each Condominium Parcel
in each condominium shall be delivered to each member of the
Condominium Association not later than sixty (60) days nrior
to the commencement of the fiscal year for which the budget
has been prepared and not later than thirty (30) days nrior to
the Board of Directors' meeting at which the pronosed budget
may be adopted. In the event the Board of Directors shall fail
'to prepare and/or adopt an annual budget and deliver coDies
of same to the members of the Condominium Association in time
for the forthcoming year, then the budget for the preceding
year shall re~ain in effect and ~~ssessments shall be nayable
by the members in accordance therewith until the new budget
becomes effective.
Section 3. Assessment Records. Complete assessment
records shall be maintained for the account of each Condominium
Parcel of each condominium, showing the name of the condominium
and the name and address of each such Condominium Parcel owner,
the amount of each assessment against each such owner, the due
dates of each assessment, the amounts paid on the account and
an}~ balance due.
Section 4. Manaqement. The Board of Directors shall
have the ~ower and authorit~~ to engage the services of all
personnel necessary for the maintenance, oneration an~3 manaaement
of all Condominium properties, including the right and oower
to employ attorneys, accountants, contractors and other person-
nel, and/or the Board of Directors may contzact for nro'essional
r~anagement, in which event thc T~oard may assiqn and delegate
the entire management responsibilit~~ of the Condominium
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