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2670 Kelley Parkway - 33-118-23-12-0034 Unit #104
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Condominium Declaration
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Last modified
8/22/2023 4:46:11 PM
Creation date
3/22/2017 1:43:14 PM
Metadata
Fields
Template:
x Address Old
House Number
2670
Street Name
Kelley
Street Type
Parkway
Address
2670 Kelley Parkway
Document Type
Misc
PIN
3311823120034
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�.. <br /> �.. <br /> ; - j � . <br /> I � � - . <br /> j 6.4.3 In addition to annual Assessments and special Assessments,the Board has - <br /> the a�thority to {and, in certain instances set forth in this Section 6.4, shall) levy and <br /> ' alloca�e iimited Assessments among only certain Units in accordance with the following <br /> requir�ments and procedures. I <br /> . I 6.4.4. The costs of insurance may be assessed in proportion of the square footage - <br /> or act�at cost�er Unit. - <br /> i - <br /> i I b.4.5 Reasonable attorneys' fees and other costs incurred by the Association in <br /> � conn�ction with (i) the collection of Assessments and (ii) the enforcement of the <br /> Gove ing Documents, the Act, or the Rules and Regulations, against an Owner or <br /> Occu ant or their tenants or guests, may be assessed against the Owner's Unit. <br /> I 6.4.6 Late charges, .fines, and interest may be assessed as provided in <br /> Secti�n 14. <br /> I 6.4.7 Assessments levied under Section S 15B.3-116{a) of the Act to pay a <br /> jud� ent against the Association may be levied only against the Units existing at the <br /> Eime he judgment was entered, in propartion to their Common Expense liabilitie5. <br /> ! 6.4.8 If any damage to the.Common Elements or another Unit is caused by the <br /> act r omission of any Owner or Occupant, or their gvests�or invitees, ihe Association <br /> � may assess the costs of repairing the damage, or any increase in insurance rates directly <br /> attri utable to the Act or omission,exclusively against the Owner's Unit to the extent that <br /> - the mage is not covered hy insurance. <br /> i6.4.9 If Common Expense liabilities are reallocated for any purpose authorize I <br /> by tl�e Act, Assessments and any installment thereof not yet due shall be recalculated i <br /> accq'rdance with�the reallocated Common Expense liabilities <br /> Assessment�s levied under Sections 6.4.1 through 6.4.8 may, at the Board's discretion, b <br /> , <br /> assessed as�a part of,or in addition to,other Assessments levied under SeGtion 6.1 or 6.2: � <br /> � 6.5 Workin�Capital Fund. There shall be established a working capital fund to mee • � <br /> unforeseen expenditures or to purchase additionat equipment or services for the Association � <br /> The Board may include in each subsequent annual budget a reasonable amount of workin <br /> capital, has d upon the anticipated needs of the Association for the year in qnestion. There shal <br /> be contrib ted by the purchaser of a Unit, on a one-time basis upon the initial sale of each Uni <br /> by Declar t, an amount equal to four monthly installments of the estimated annua) Assessme <br /> far the Uni in the year of the sale. The contribution shall be paid at the earlier of(i)the time of <br /> closing af ale of the Unit or (ii)the time of iermination of the Declarant Control Period. Th <br /> contributio s to this fund are in addition to the regular installments of annual Assessments, an <br /> shall not e a credit to the regular installments of annual Assessments levied against th <br /> respective nit. The funds shall be deposited into a s�gregated Association account no later tha <br /> the terrnin tion of the Declarant Control Period. Funds deposited in said account shall not <br /> used to de ray any of Declarant's expenses, reserve contrihutions or construction costs, nor <br /> make up a y budget deficits during the Declarant Cantrol Period. However, upon the closing f <br /> the initial �ale of a Unit, Declarant may reimburse itself from funds collected from the purchas r <br /> MPLS-Word 95�281.i l (� <br /> I <br /> i . <br /> I <br />
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