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11 <br />not funded by limited Assessments, pursuant to Section 6.4. Annual Assessments shall provide, for funds <br />adequate to perform the minimum required maintenance of the Common Elements under any preventive <br />maintenance plan adopted by the Association as required under Section 515B.3-107 of the Act. <br /> <br />6.3. Special Assessments. In addition to annual Assessments, the Board may levy in any Assessment <br />year a special Assessment against all Units in accordance with the allocation formula set forth in Section 4.2. <br />Among other things, special Assessments may be used for the purpose of defraying in whole or in part the cost <br />of any unforeseen or unbudgeted Common Expense. <br /> <br />6.4. Limited Assessments. In addition to annual Assessments and special Assessments, the Board <br />may at its discretion, levy and allocate limited Assessments among one or more, but not all, Units, in accordance <br />with the following requirements and procedures: <br /> <br />6.4.1. Any Common Expense associated with the maintenance, repair, or replacement of a <br />Limited Common Element shall be assessed exclusively against the Unit or Units to which that Limited <br />Common Element is allocated, as determined by the Board. <br /> <br />6.4.2. Any Common Expense benefiting fewer than all of the Units but not falling within <br />Section 6.4.1 may be assessed against the Unit or Units benefited, as determined by the Board. <br /> <br />6.4.3. The costs of insurance may be assessed equally or by actual cost per Unit, and the costs <br />of common utilities may be assessed equally, in proportion to usage, or such other reasonable allocation <br />as may be approved by the Board. <br /> <br />6.4.4. Reasonable attorneys’ fees and other professional fees and costs incurred by the <br />Association in connection with (i) the collection of Assessments and (ii) the enforcement of the <br />Governing Documents, the Act, or the Rules and Regulations, against an Owner or Tenant or their <br />guests, may be assessed against the Owner’s Unit. <br /> <br />6.4.5. Late charges, fines and interest may be assessed as provided in Section 13. <br /> <br />6.4.6. If any damage to the Common Elements, Limited Common Elements or another Unit <br />or any portion of the Owner’s Unit that the Association is obligated to maintain is caused by the act or <br />omission of any Owner or Tenant, or their guests, the Association may assess the costs of repairing the <br />damage exclusively against the offending Owner’s Unit to the extent not covered by insurance. <br /> <br />6.4.7. If a Unit is owned by multiple individuals or an entity and the Common Elements or <br />any other improvements or facilities related to the common interest community are used by more than <br />one individual and his or her immediate family, (“immediate family” being defined to include the <br />individual’s spouse, children and stepchildren) the Board is authorized to assess an Owner of the Unit <br />for excess use of the Common Elements or such other improvements or facilities in an amount <br />determined by the Board. <br /> <br />6.4.8. If Common Expense liabilities are reallocated for any purpose authorized by the Act, <br />Assessments and any installment thereof not yet due shall be recalculated in accordance with the <br />reallocated Common Expenses liabilities. <br /> <br />Assessments levied under Sections 6.4.l through 6.4.7 may, at the Board’s discretion, be assessed as a part of, <br />or in addition to, the other Assessments levied under Section 6.1 or 6.2. <br /> <br />6.5. Working Capital Fund. There shall be established a working capital fund to meet unforeseen or <br />unbudgeted expenditures or to purchase additional equipment or services during the Association’s beginning <br />years of operation. There shall be contributed, on a one-time basis upon the initial sale of each Unit by Declarant, <br />59