HomeMy WebLinkAbout0919 ' and to maintain, repair and replace the Coc~mon ~lements of
the Candomi~lium.
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(4) Special Assessments, which may be required by the '
;
; Board nf Administration, shall be levied and paid in the '
same manner as provided for reqular Assessments. ;
B. (1) The Board of Administration shall fix
Assessmer~ts adequate to meet the Limited~Common Expenses of
.the Co~ndominium.
(2) Funds ~or the paymen~ of Limited Common Expenses
shall be assessed against Unit Owners in the proportions or
percentages and in the manner provided in the Declaration
~ and said Assessments shall be payable as provided in the
~
Declaration.
(3) Special Assessments r~lated to Limited Common
Element~, which may be required by the Board of
Administration, shall be levied and paid in the sarne manner
as provided for re9ular Assessments.
C. When the Board of Administration has determined the
s amount of any Assessment, excluding the monthly assessment,
- the S~cretary or Treasurer shall mail or present a.statement '
of the Assessment to each of the Unit Owners. All
Assessments shall be payable to the Association and, upon
request, the Secretary or Treasurer shall give a receipt for `
each payment made. ~
Section 4. Annual Budget.
A. A copy of the Association's proposed annual.budget
: of common expenses and limited cammon expenses, if .
~ applicable, shall be mailed to each Unit Owner not less than
thirty (30) days priar to the meeting of the Board of
Administration at which the budget will be considered t~-
gether with a notice of that meeting. Such meeting of the
Board of Administration shall be open to all Unit Owners.
B. The Board of Administration may approve annual
budgets without the necessity of Unit Owner approval so long
as the amount does not exceed one hundrPd f~fteen (115%)
~ percen~ of the Assessment for the preceding year.
I~ C. I€ the Board of Administration adopts a budget
wrich requires Assessmenta against Unit Owners for.the
proposed fiscal year exceeding one hundred fifteen (115%)
percent of such Assessments for the preceding year, all as
determined in accordance with Section 71~.112(2)(f), Florida
Statutes, as enacteci upon the date of recordation of the
_ Declaratior_ of Condominium, the Board of Administration, ;
upon written application of ten (10%) percent of the Unit . ;
Qwners to the Board of Administration, sha~l call a special ;
, meeting of the Unit Owners within thirty (30) days, upon not ~
less than ten (10) days' written notice to each Unit Owner.
~it the special meeting, Unit Owners shall cAnside~ and enaGt
a budget, the adoption of which shall require a vote of no~
less than a majority vote of all Unit Owners. The Board of
- Administration may propose a budget to th~ Unit Owners at a
meeting of Members or in writing, and if the budget or
proposed budget is approved by the Unit Owners at the meeting
or by a majority of alI Unit Owners in writing, the bud~et
shall be adopted. In determining whether Assessments exceed
one hundred ~ifteen (115%) percent of similar Assessments in
~ prior years, any authorized provisions for reasonable
~ reserves for repair or replacement of the Condominium ~
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Property, anticipated expenses by the Association which are
- not anticipated to be incurred on a regular or annual basis,
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