Laserfiche WebLink
>V "W-Association shall tion of all Manbars agas sustainad on or : Ona Million Dollars aaount as tha Board <br />tion shall aaintain <br />ficars, aaployaas or <br />funds of tha Asso- <br />ual to all funds in <br />and in no avant lass <br />us tha Association's <br />^drtv. In tha avart <br />of tha Associaticn, <br />a from tha insurance <br />ds are insufficient <br />tha property damaged <br />Capital Assessment <br />Lot Owners to cover <br />not covered by the <br />Common Assessments <br />The coverage and <br />Bsociation shall be <br />w of Policies. The <br />required by law or <br />d appropriate. All <br />uiually by tha Board <br />certain whether tha <br />nt. <br />lershiD. Every Lot <br />vary Owner of a Lot <br />mbarship shall be <br />mership of any Lot <br />i Association shall <br />\r... > .|i <br />f <br />k;, <br />r-r-; ; V':-V <br />r ■ -kj <br />mwm <br />h <br />m <br />f f <br />y •: "F. <br />•'.Vi 1 <br />4 <br />m--'m[v.v <br />:^Wr- <br />■■Bi:’mm3: <br />|se,iS:SpE <br />• <br />i' V'-'33m:^ <br />.. :-V; - <br />:k.^: . ?. -V:, <br />l|iK; <br />Class A <br />Class^. <br />Class A Members shall be all Owners, with the exception of tha Declarant, and shall be entitled to ona vote for each Lot o%mad. When more than ona <br />parson is tha Owner of a Lot, all such parsons shall <br />Members and each shall be entitled to a fraction <br />of a vote equal to tha parson's fractional <br />ownership of tha Lot. <br />Tha Class B Member shall be tha Declarant, which <br />shall be entitled to three (3) votes for each Lot <br />owned. The Class B membership shall cease and be <br />converted to Class A memberships upon the happening <br />of the earlier of the following events: <br />(a) when 75% of the Lots have been conveyed of <br />record to Owners other than the Declarant; or <br />(b) seven years after the first Lot is conveyed of <br />record to an Owner other than the Declarant. <br />ARTICLE VI <br />COVENANT FOR ASSESSMENTS <br />s^etion 1. Purpose of Assessments. The Association may levy <br />assessments exclusively to promote the recreation, health, safety# <br />and welfare of the residents in the Properties and for the <br />improvement and maintenance of the Common Area <br />Association's property, including reasonable reserves for ruture <br />F^pairs, lainllA&nc4 Ihd replacement. <br />Section 2. creaticn of the Lien and Personal Obligation tag <br />Assessments. The Declarant, for each Lot o%med within the Pro­ <br />perties, hereby covenants, and each Owner of any Lot by acceptance <br />of a deed therefor, whether or not it shall be so expressed in such <br />deed, is deemed to covenant and agree to pay to the Association: <br />(a) Annual Assessments per Section 3 of this Article; <br />(b) Emergency Fund Assessments per Section 4 of this <br />Article; <br />(c) Sinking Fund Assessments per Section 5 of this <br />Article; <br />(d) Capital Assessments per Section 6 of this Article; <br />and <br />(e) Separate Assessments per Section 7 of this Article. <br />- 9 - <br />wmmm <br />1^^ <br />m <br />3if33 .m'.m- <br />ry ' * .k- •"■k.'X- ■ <br />ilWSiSila,-.'.mmw <br />■■ <br />A,''' <br />iwH <br />'I' • • • <br />’iky^- <br />yy-kyy^’^^kyy <br />'.'X- -x" ■•■■ ■•' x '- w J!-:? <br />f». .-^V- r-yV-- ji,- ■■:/■ y:.,. <br />?V'v <br />tmyyyS^^ <br />|y;: k: ' • ^ <br />■ ^ASikgkk:: <br />'i^mn <br />■'k: -i <br />^3333 <br />3y-m <br />■:^:yyy::»yyyy <br />*• y^yyy/yTi!' <br />3:M33y33 <br />■ .- v^yy 7.- <br />:33u33m0 <br />3331 ■■■■:,3:3m. <br />33^--3 r333 :■■•:•■•• x: <br />.--A*. V <br />'33^3.^■ <br />' 3y333f^^ \- 3 ;3mam3 ■ <br />iMik