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2670 Kelley Parkway - 33-118-23-12-0043 Unit #113
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Condominium Declaration
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Last modified
8/22/2023 4:46:16 PM
Creation date
3/23/2017 11:35:48 AM
Metadata
Fields
Template:
x Address Old
House Number
2670
Street Name
Kelley
Street Type
Parkway
Address
2670 Kelley Parkway
Document Type
Misc
PIN
3311823120043
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.,.,• i <br /> � . . <br /> � <br /> I . ' <br /> � • <br /> I - <br /> 6.4.3 In addition to annual Assessments and special Assessments,the Boar has - <br /> the authority to (and, in certain instances set forth in this Section 6.4, shall) levy and <br /> ' alllocate iimited Assessments among only certain Units in accordance with the follo ing <br /> requirements and procedures. <br /> . b.4.4 The costs of insurance may be assessed in proportion of the square foo age <br /> ar actuat cost�er Unit. ' <br /> � . <br /> I b.4.5 Reasonable attorneys' fees and other costs incurred by the Associatio in <br /> ; connection with (i) the callection of Assessments and (ii) the enfarcement of the <br /> Caverning Documents, the Act, or the Rules and Regulatiflns, against an Owne or <br /> Gccupant or their tenants or guests,may be assessed against t'he Owner's Unit. <br /> 6.4.6 Late charges, .fines,� and interest may be assessed as provided in <br /> S�ection 14. <br /> 6.4.7 Assessments levied under Section S15B.3-11b{a) of the Act to pa a <br /> judgment against the Association may be levied only against the Units existing at the <br /> ti[ne the judgment was entered,in proportion to their Common Expense liabilities. <br /> 6.4.8 [f any damage to the.Common Elements or another Unit is caused by the <br /> act or omission of any Owner or Occupant, or their guests•or invitees, the Associa ion <br /> � rr�ay assess ihe costs of repairing the damage, or any increase in insurance rates dire tly <br /> atttributable to the Act or omission,exclusively against the Owiaer's Unit to the extent hat <br /> - the damage is not covered by insurance. <br /> I 6.4.9 If Common Expense liabilities are reallocated for any purpose authori ed <br /> by the Acf, Assessments and any installment thereof not yet due shall be recalculate in. <br /> accordance wiih the reallacated Common Expense liabilities <br /> Assessm�nts levied under Sections 6.4.1 through 6.4.8 may, at the Board's discretion, be <br /> assessed as a part of,or in addition to,other Assessments levied under SeGtion 6.1 or 6.2: � <br /> � 6.5 Workine Capital-Fund. There shall be established a working capital fund to et • ' <br /> unforese�n expenditures or to purchase additionat equipment or services for the Associati n. � <br /> The Boa�-d may include in each subsequent annual budget a reasonable amount of work ng <br /> capital,based upon the anticipated needs of the Association for the year in question. There s all <br /> be contributed by the purchaser of a Unit, on a one-time basis upon the initial sale of each nit <br /> by Decla�ant, an amount equa( to four monthly installments of the estimated annual Assessm nt <br /> for the Unit in the year of the sale. The contribution shall be paid at the earlier of(i)the time of <br /> closing of sale of the Unit or (ii)the time of termination of the Declarant Control Period. he <br /> contributions to this fund are in addition to the regular installments of annual Assessments, d <br /> shal! not', be a credit to the regular installments of annual Assessments levied against he <br /> respectiv� Unit. The funds shall be deposited into a s�gregated Association account no later an <br /> the termination of the Declarant Control Period. Funds deposited in said account shall not be <br /> used to defray any of Declarant's expenses, reseive contributions or construction costs, nor to <br /> make up �ny budget deficits during the Declarant Control Period. However, upon the closing of <br /> the initial'sale of a Unit, Declarant may reimburse itself from funds coElected from the purcha er <br /> A9PLS-Word 452&t.i I 9 <br /> � <br /> I <br />
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