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2670 Kelley Parkway - 33-118-23-12-0035 Unit #105
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Condominium Declaration
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Last modified
8/22/2023 4:46:12 PM
Creation date
3/22/2017 1:53:02 PM
Metadata
Fields
Template:
x Address Old
House Number
2670
Street Name
Kelley
Street Type
Parkway
Address
2670 Kelley Parkway
Document Type
Misc
PIN
3311823120035
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., <br />, . . <br />; ' . <br /> b.4.3 In addition to annual Assessments and special Assessments,the Board ha • , <br /> the uthority to {and, in certain instances set forth in this Section 6.4, shall) levy an <br /> alloc te iimited Assessments among only certain Units in accordance with the followin <br /> requ rements and procedures. <br /> . 6.4.4 The costs of insurance.may be assessed in proportion of the square footagel <br /> or a ai cost�er Unit. <br /> b.4.5 Reasonahle attorneys' fees and other costs incurred by the flssaciation in <br /> � conn ction with (i) the coltection of Assessments and (ii) the enforcement of the <br /> Gov rning Documents, the Act, or the Rules and Regulations, against an flwner o <br /> Occ�pant 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 provided in <br /> Sectiion ]4. <br /> 6.4.7 Assessments levied under Section S15B.3-llb(a) of the Act to pay a <br /> judg ent against the Association may be levied onty against the Units existing at the <br /> time the judgment was entered, in proportion to their Common Expense liabilities. <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 guests•or invitees, the Association <br /> � may assess ihe costs o#'repairing the damage, or any increase in insurance rates directly <br /> attri�utable to the Act or omission,exclusively against the{Jwqer's Unit to the extent that <br /> • the mage is not covered by insurance. . <br /> 6.4.9 If Common Expense liabilities are reallocated for any purpose authorized <br /> by t e Acf, Assessments and any installrr�ent thereof not yet due shali be recalculated inj <br />; acco dance with the reallocated Common Expense liabilities <br />, <br /> j Assessment� levied under Sections 6.4.1 through 6.4.8 may, at the Board's discretion, be <br /> assessed as�part of,or in addition to,other Assessments levied under SeGtion 6.1 or 6.2: � <br /> 6.5 Ii Workine Capital Fund. There shall be established a working capital fund to meet • ' <br /> unforeseen �xpenditures or to purchase additionat equipment or services for the Association. � <br /> The Board may include in each sabsequent armual budget a reasonable amount of working <br /> capitai, base upon [he anticipated needs of the Association for the year in qnestion. There shall <br /> be contribut d by the purchaser of a Unit, on a one-time basis upon the initiai sale of each Unit <br /> by Declaran , an amount equal to four monthly installments of the estimated annual Assessment <br /> for the Unit in the year of the sale. The cantribution shall be paid at the earlier of(i)the time of <br /> closing of s le of the Unit or (ii)the time of termination of the Declarant Control Period. The <br /> contribution to this fund are in addition to the regular instal]ments of annual Assessments, and <br /> shal! not b a credit to the regular installments of annual Assessments levied against che <br /> respective nit. The funds shall be deposited into a s�gregated Association account no later than <br /> the terminat on of the Declarant Control Period. Funds deposited in said account shall not be <br /> used to def y any of Declarant's expenses, reserve contributions or construction costs, nor to'� <br /> make up an budget deficits during the Declarant Contrnl Period. However, upon the closing of <br /> the initial sa e of a Unit, Declarant may reimburse itself from funds collected from the purchaser <br /> MPLS-Word9528�,Li 1 9 <br /> I <br />
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