10-10-2005 Council Packet - Laserfiche WebLink

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# 9.02 Voting. Each of the Units is allocated one vote in the Association. 9.03 Reasonable Estimates. Whenever an expense that is allocable to Units to which a Limited Common Element is assigned under Section 9.01 .A, to certain benefited Units under Section 9.0 l.B, or to certain Units on the basis of use of utilities under Section 9.01 .C, is not separately metered or caiuiot otherwise be precisely measured, the Association may make a reasonable estimate thereof, and based on such estimate, may adopt for convenience a simple flat fee per each such Unit 9.04 equality. Formula. The allocation of interests specified in Section 9.01 above is based on 10.00 ASSESSMENTS 10.0 1 General Provisions. Section S1 SB.3-11 S of the Act specifies how assessments are assessed and collected. Section SlSB.3-116 specifies how the lien for assessments is created and enforced, and to which interests it is either superior or subordinate. 10.02 Annual Assessments. Annual Assessments shall be established and levied by the Board. Each annual assessment si.'*U cover all of the anticipated Common Expenses of the Association for that year. Annual assessments may provide, among other things, for contributions to a separate reserve fund sufficient to cover the periodic cost of maintenance, repair and replacement of the Common Improvements and those parts of the Units for which the Association is responsible, in accordance with the Association’s reserve plan. The plan may assume that a portion of the future costs will be funded by fViture special assessments. ‘0.03 Special Assessments. In addition to the annual assessments authorized above, the Association may levy, in any assessment year, a special assessment payable over one or several assessment years for the purpose of defraying, in whole or in part, the cost of any unforeseen or unbudgeted common expense, including without limitation the unexpected construction, reconstruction, repair or replacement of a capital improvement and including fixtures and personal property related thereto, provided that any such assessment shall have the assent of not less than a majority of the Units. 10.04 Maintenance Assessments. In addition to annual and special assessments, the Association, by the vote of a majority of the Units, may levy in any assessment year a maintenance assessment for the purpose of defraying in whole or in part the cost of curing a violation of a covenant or failure to perform a condition contained in this Declaration after notice as provided in Sections 13.01 and 22.07 below. The assessment shall be a personal obligation of the owner and a lien against the Unit with the same priority and enforceability as any lien for annual or special assessments. I O.OS Commencement of Initial Anniml Asses-^menta The annual assessments provided for herein shall commence as to all Units not later than one month after the first conveyance of a Unit to **■ IMUt