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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
Supplemental fields
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Updated
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. <br /> �M �r� <br /> at the losing for any prior contributions made by Dectarant to the working capita! fund with - <br /> respect to that Unit. <br /> 6.6 Liabilitv of Owners for Assessmen#s. Subject to Section 6.7, the obligation pf an <br /> Owner to pay Assessments shail commence at the �ater of (i) the time at which the Olwner <br /> acquir title to the Unit or(ii) the due date of the first Assessment levied against ih�Unit y the <br /> Board. The Qwner at the time an Assessment is payahle with respect to t�e Unit sh il be <br /> person Ity liable for the share of the Common Expenses assessed against such Unit. Such <br /> liabili shall be joint and severat where there are maltiple Owners of the Unit_ The Gabil'ty is <br /> absolut and unconditional. No Owner is exempt from liability for payrnent of Assessme ts by <br /> right o set-off, by waiver of use or enjo�nnent of any part of the Property, by absence fr m or <br /> abando ment of t1�e Unit, by the waiver of any other rights, or by reason of any claim a ainst <br /> Declar nt, the Association, or the Association's officers, directors, or agents, or for their f ilure <br /> to fulfi�l any duties under the Governing Documents or the Act. � <br /> I6.7 Declarant's Alternative Assessment Pro r� am. The following alte ative <br /> Assess ent program is established pursuant to Section 515B.3-115(a)of the Act. <br /> 6.7.1 Notwithstanding anything to the contrary in the Governing Docume ts, if <br /> n Assessment has been�levied, Declarant may e]ect to have any unsold Unit owned by it <br /> ssessed at the rate of twenty-five percent of the Assessments (exclusive of replace ent <br /> eserves) levied on that Unit and other Units of the same type until a final certific te of <br /> ccupancy or comparable City approval has been issued with respect to such Unit b the <br /> itY <br /> 6.7.2 The provisions of Section 6.7.1 shall not affect the share af replace ent <br /> eserves for Units owned by Declarant, which reserves must be funded by Decla t as <br /> equired by Section S15B.3-1 ES of the Act. However, there are no assura�ces that <br /> eclarant's reduced Assessment obligations will not affect the level of services for ther <br /> 'tems set forth in the Association's budget. <br /> 6.73 Declarant's reduced assessment obli�ation shall apply to each Unit o ned <br /> by Declarant at the time that any Assessment is levied against the Unit, and hall <br /> terminate with respect to each such Unit upon the issuance of a fina] certifica e of <br /> pccupancy or comparable City approval for the Unit. <br /> ' 6.7.4 Notwithstanding the foregoing, Deciarant shall be obligated to, ithin <br /> ixty days following the termination of the Declarant Control Period, to make up any <br /> perating deficit incurred by the Association during the Declarant Control Period. <br /> .8 Assessment Lien. The Association has a lier, on a Unit for any Assessment 1 vied <br /> against that Unit from the time the Assessment becomes due. If an Assessment is payab e in <br /> install ents, the full amount of the Assessment is a lien from the time the first install ent <br /> thereof becomes due. Fees, charges, late charges, fines, and interest charges imposed b the <br /> Associ tion pursuant to Section S15B.3-]02(a)(10), (11), and (12} of the Act are liens, an are <br /> enforce ble as Assessments, under this Section 6. Recording of this Declaration consti tes <br /> record otice and gerfection of any lien vnder this Section 6, and no fuRher recordation o any <br /> MPLS-Wo 95281.11 �p <br />
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