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2670 Kelley Parkway - 33-118-23-12-0042 Unit #112
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Condominium Declaration
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Last modified
8/22/2023 4:46:16 PM
Creation date
3/23/2017 11:27:15 AM
Metadata
Fields
Template:
x Address Old
House Number
2670
Street Name
Kelley
Street Type
Parkway
Address
2670 Kelley Parkway
Document Type
Misc
PIN
3311823120042
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.. <br /> I . . • - <br /> � <br /> I <br /> i ' <br /> I � <br /> 6.4.3 In addition to annual Assessments and special Assessments,the Board h�s - <br /> the, authority to (and, in certain instances set forth in this Section 6.4, shall) levy ar�d <br /> ' � allticate limited Assessments among only certain Units in accordance with the followi�g <br /> requirements and procedures. <br /> . �', 6.4.4 The Casts of insurance may be assessed in proportion of the square foota e <br /> or pctuai cost per Unit. <br /> i ' b.4.5 Reasonable attorneys' fees and other costs incurred by the Association n <br /> � connection with (i) the collection of Assessments and (ii) the enforcement of e <br /> Governing Documents, the Act, or the Rules and Regulations, against an �wner r <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 provided n <br /> Section 14. <br /> 6.4.7 Assessments levied under Section S 15B.3-1 l b(a) of the Act to pay a <br /> judgment against the Association may be levied only against the Units existing at t e <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 e <br /> act or ornission of any Owner or Occupant, or their guests•or envitees, the Associati n <br /> may assess the costs of repairing the damage, or any increase in insurance rates direc y <br /> att�ibutable to the Act or omission,exclusively against the Owner's Unit to the extent t t <br /> - th�damage is not covered by insurance. <br /> ' 6.4.9 If Common Expense liabilities are reallocated for any purpose authoriz d <br /> by the Acf, Assessments and any installment thereof not yet due shall be recalculated �n <br /> accordance with the reallocated Common Expense liabilities <br /> Assessments levied under Sections 6.4.1 through 6.4.8 may, at the Board's discretion, e <br /> assessed as a part of,or in addition to, other Assessments levied under Se�tion 6.l or 6.2: � <br /> � 6.5 Working Canital-Fund. There shall be established a working capital fund to m et • � <br /> unforeseen expenditures or to purchase additionat equipment or services for the Associati n. � <br /> The Soard may include in each suhsequent annual budget a reasonable amount of worki g <br /> capital, hased upon the anticipated needs of the Association for the year in qnestion. There sh 11 <br /> be contributed by the purchaser of a Unit, on a one-time basis upon the initial sale of each U it <br /> by Declarant, an amount equal to four monthly instailments of the estimated annual Assessm t <br /> for the Unit in the year of the sale. The contribution shall be paid at ttie earlier of(i)the time f <br /> closing of sale of the Unit or (ii)the time of termination of the Declarant Control Period. T e <br /> contributiqns to this fund are in addition to che regular installments of annual Assessments, a�d <br /> shal! not',be a credit to the regular installments of annual Assessments levied against t e <br /> respective� Unit. The funds shaSl be deposited into a segregated Association account no later th�n <br /> the termimat�on of the Declarant Control Period. Funds deposited in said account shall not be <br /> used to d�fray any of Declarani's expenses, reserve contributions or construction costs, nor lto <br /> make up any budget deficits during the Declarant Control Period. However, upon the closing f <br /> the initial sa{e of a Unit, Declarant may reimburse itself from funds collected from the purcha er <br /> MPLS-Word 95281J f 9 <br /> I <br />
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