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HomeMy WebLinkAbout0924 r i , ' ~ , . . ! ~r 11 / ~ ? I . ` • . • ~ . . ` - ~ • - materials, management, maintenance and supervision thereaf, as well as for such other purposes as are permissable activities of~ a~d undertaken by, the Association. Section 3. Members Approval of Annual Assessments: Assess- ments set by board must be approved by a simple majority of members of the Association present at the meetinq called to approve such assessments. Provided, however, that such approval shall not be required so long as the Developer is entitled to appoint oRe or more members of the Board of Directors. Section 4. Uniform Rate of Assessment: All regular and special assessments shall be at a uniform rate for each Lot in The Reserve Plantation. Section 5. S~ecial Assessments for Capital Improvements and Major Repairs: In addition to any annual assessments, the Hoard may levy in any 3ssessment year a special assessment, applicable to that year only, for the puzpose of deftaying, in whole or in part, the cost of any construction, recontruction, unexpected repair or replacement of a capital improvement as appr~ved by the Board of Directors of the Association, includinq the necessary fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3) of the members who are voting in person or by proxy at a meeting duly called for this purpose, written notice of which shall be sent to all members at least thirty (30) days in advance and shall set forth the purpose of the meeting. Provided, however, that such approval shall not be required so long as the Developer is 'i entitled to appoint one or more members of the Board of ~ Directors. ~ ~ Section 6. Date of Commencement of Annual Assessments; Due ~ € Date: The assessments for which provision is herein made shall j ~ commence on the date or dates (which shall be the first day of a month) fixed by the Board of Directors of the Association to be ~ the date of commencement. The due date of any assessment shall ~ be Qayable in advance in manthly, quarterly, semi-a~nual or ~ annual installments, as determined by the Board. ~ Section 7. Duties of the Board of Directors: The Board of Directors of the Assoc at on shall f x the date of commenceme~t, and the amo~nt of, the assessment aqainst each Got for each ~ assessment period at least thirty (38) days in advance of such ~ date or period and shali, at that time, prepare a roster of the ~ Lots and assessemer~ts applicable thereto which shall be kept in 4 the offfce of the Asociation and shall be open to inspection by ~ the members of the Association. Written notice of the assessment ~ shall be sent to every Owner subject thereto not later than seven ~ (7) days after fixinq the date of commencement thereof. The Assocfation shall, upon demand at any time, furnish to ~ any Owner liable for said assessment a certificate in writing ~ signed by an officer of the Association, settinq forth whether ~ said assessment has been paid. Such certificate shall be ~ 7-16-85 Res Plt ~ c~ ~ ~~~~I( ~ 1 f.~ PA~E ~ ~ , ~ , - . ~ . . ~ . ~ . _ _ . ~ : . ~ _ ,