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2670 Kelley Parkway - 33-118-23-12-0040 Unit #110
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Condominium Declaration
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Last modified
8/22/2023 4:46:15 PM
Creation date
3/22/2017 2:33:23 PM
Metadata
Fields
Template:
x Address Old
House Number
2670
Street Name
Kelley
Street Type
Parkway
Address
2670 Kelley Parkway
Document Type
Misc
PIN
3311823120040
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.,.a � � � <br />� . . <br />� . <br />� - <br /> I ' <br /> 6.4.3 in addition to annual Assessments and special Assessments,the Boa has � <br /> the authority to {and, in certain instances set forth in this Section 6.4, shafl) 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 costs af insurance ma�be assessed in proportion of the square fo tage <br /> or actual cost per Unit. - <br /> I� b.4.5 Reasonable attomeys' fees and other costs incurred by the Associati n in <br /> connection with (i) the coltection of Assessments and (ii) the enforcement o the <br /> Governing Docurr3ents, the Act, or the Rules and Regulations, against an Own r 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 l4. <br /> 6.4.7 Assessments levied under Section S15B.3-llb(a} of the Act to ay a <br /> 'udgmeni against the Association may be levied only against the Units existing t the <br /> time the judgment was entered, in propartion to their Common Expense liabilities. <br /> 6.4.8 If any damage to the.Common Elements or another Unit is caused y the <br /> act or omission of any Owner or Occupant, or their guests•or 'rnvitees, the Assoc ation <br /> � may assess the costs of repairing the damage, or any increase in insurance rates di ectly <br /> attributable to the Act or omission,exclusively against the Owcaer's Unit to�the exte t that <br /> - the damage is not covered by insurance. <br /> 6.49 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 recalcula ed in <br /> accordance with the reallocated Common Expense liabilities � <br /> Assess ents levied under Sections 6.4.1 through 6.4.8 may, at the Board's discretio , be <br /> assesse�as a part of,or in addition to,other Assessments levied under Section 6.I or 6.2: � <br /> � 6.5 Workine Capital Fund. There shall be established a working capital fund to meet • � <br /> unfore een expenditures or to purchase additionat equipment or services for the Associ tion. � <br /> The B ard may include in each suhsequent annual budget a reasonable amount of wo king <br /> capital hased upon the anticipated needs of the Association for the year in question. There shall <br /> be con ributed by the purchaser of a Unit, on a one-time basis upon the initial sale of each Unit <br /> by De larant, an amount equal to four monthly installments of the estimated annua! Asses ment <br /> for the Unit in the year of the sale. The contribution shall be paid at the earlier of(i)the ti e of <br /> closin of sale of the Unit or (ii)the time of termination of the Declarant Control Period. The <br /> conirib tions to this fund are in addition to the regular installments of annual Assessment , and <br /> shal! at be a credit to the regular installments of annual Assessments levied again t the <br /> respect�ve Unit. The funds shall be deposited into a s�gregated Association account no late than <br /> the te ination of the Declarant Contro) Period. Funds deposited in said account shall t be <br /> used t defray any of Deciarani's expenses, reserve contributions or construction costs, or to <br /> make p any budget deficits during the Declarant Control Period. However, upon the closi g of <br /> the ini 'al sale of a Unit, Declarant may reimburse itself from funds coilected from the purc aser <br /> MPLS-W rd 9528tJ f 9 <br /> I <br /> i <br /> I . <br />
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