Laserfiche WebLink
' .,., <br /> � <br /> I - <br /> � ' <br /> 5.4.3 In addition to annual Assessments and special Assessments, the Boa d has - <br /> the authority to {and, in certain instances set forth in this Section 6.4, shall) lev and <br /> ' allocate iimited Assessments among only certain Units in accordance with the foll wing <br /> requirements and procedures. <br /> . 6.4.4 The Gasts of insurance may be assessed in proportion of the square f otage <br /> or actuat cost�er Unit. <br /> ib.4.5 Reasonable attomeys' fees and other costs incurred by the t�ssaciat on in <br /> � connection with (i) the collection of Assessments and (ii) the enforcernent f the <br /> Governing Documents, the Act, or the Rules and Regulations, against an 4 er or <br /> Occupant or their tenants or guests, may be assessed against the Owner's Unit, <br /> 6.4.6 Late charges, fines, and interest may be assessed as provid d in <br /> Section 14. ' <br /> � 6.4.7 Assessments levied under Section 51583-I1b(a) of the Act to ay a <br /> judgment against the Association may be levied only against the Units existing t the <br /> i time the}udgment was entered, in proportion to theic Common Expense liabilities. <br /> 6.4.8 If any datnage to the Common Elements or another Unit is caused y the <br /> act or omission of any Owner or Occupant, or their guests•or invitees, the Asso iation <br /> � may assess the costs of repairing the damage, or any increase in insurance rates d rectly <br /> attributable to the Act or omission, exclusively against the Owr�er's Unit to the exte t that <br /> - the damage is not covered by insurance. <br /> 6.4.9 If Common Expense liabilities are reallocated for any purpose auth rized <br /> by the Act, Assessments and any installment thereof not yet due shall be recalcul ted in <br /> accordance with the reallocated Common Expense liabilities <br /> Asses ments levied under Sections 6.4.1 Ehrough 6.4.8 may, at the Board's discreti n, be <br /> asses ed as a part of,or in addition to, other Assessments levied under Section 6.] or 6.2: � <br /> ' 6.5 Working Capital,Fund. There shall be estabiished a working capital fund t meet � � <br /> unfor seen expenditures or to purchase additionat equipment or services for the Asso iation. � <br /> The oard may include in each subsequent annual budget a reasonable amount of w rking <br /> capit !, hased upon the anticipated needs of the Association for the year in qnestion. The shall <br /> be co tributed by the purchaser of a Unit, on a one-time basis upon the initial sale of ea Unit <br /> by D clarant, an amount equal to four monthly installments of the estimated annual Asse sment <br /> for th Unit in the year of the sale. The contribution shali be paid at the earlier of(i)the 'me of <br /> closi g of sale of the Unit or (ii)the time of tern�ination of the Declarant Control Perio . The <br /> contri utions to this fund are in addition to che regular installments of annual Assessmen s, and <br /> shall not be a credit to the regular installments of annual Assessments levied agai st the <br /> respe tive Unit. T'he funds shall be deposited into a segregated Association account no lat r than <br /> the t rmination of the Declarant Control Period. Funds deposited in said account shall not be <br /> used o defray any of Declarant's expenses, reserve contributions or construction costs, nor to <br /> make up any budget deficits during the Declarant Control Period. However, upon the clo ing of <br /> the i itial sale of a llnit, Declarant may reimburse itself from funds collected from the pu chaser <br /> MPLS- ord 95281J f (� <br /> . � . . <br />