09-22-1997 Council Packet - Laserfiche WebLink

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» i the percentage Cost Share allocated to such Owner's Benefitted Parcel pursuant to paragraph 6 hereof. The Owner then acting as the administrator of this Declaration (the "Administrator") shall make all decisions with respect to what Easement Parcel repair or improvement is to be performed, and at what times, and what Easement Parcel Costs are to be incurred and billed, and at what times. The Administrator in his, her or their discretion may determine the procedure for billing the Owners of the Benefitted Parcels, and may bill the Owners in advance of Easement Parcel Costs being incurred. Such Costs may be billed for such periods of time and at such frequency as the Administrator $ 9 may determine from time to time. The Administrator shall pay all Easement Parcel real estate taxes and special assessments, and shall maintain, or cause to be maintained, the Easement Parcel in a neat, clean and attractive marmer and in a manner at least consistent with the applicable provisions of the Code. 8. Payment of Cost Shares . Each Owner of a Benefitted Parcel shall pay the Administrator a sum equal to such Benefitted Parcel Owner's Cost Share, ia monthly, quarterly, semi-annual or annual installments (as detennined by the Administrator). Unless otherwise elected by the Administrator, such installments shall be payable in advance, and shall be due on the first day of such payment period. Installments not paid within ten (10) days of the due date thereof shall accrue interest from such due date at the rate of two percent (2%) per annum above the prime rate published by First Bank Nation^ Association (or a comparable substitute rate chosen by the Administrator, if