Condominium Declaration - Laserfiche WebLink

Home Browse Search

, ' �,} f. . �. . _ . i Owner'or the Owner's authorized representative, furnish the resale disclosure certificate.�The . Association may charge a reasonable fee for furnishing the resale disclosure certificate an any documgnts related thereto. I SECTION b i ASSESSMENT� I � ;6.1 General. Assessmenis shall be determined and assessed against [he Units y the • Board, in its discretion,subject to the requirements and procedu�es set forth in this Section and the Bylaws. Assessments shatl include annuai Assessments under Section 6.2, and may i clude special Assessments under Section 6.3 and limited Assessments under Section 6.4. Annu l and special Assessments shall be allocated among the Units in accordance with the allo ation formula set forth in Section 4.2. Limited Assessments under Section 6.4 shal! be alloc ed to i Units�s set forth in that Section. ; 6.2 Annual Assessments. Annuai Assessments shall be established and levied py the BoardP subject to the limitations set forth hereafter. Each annual Assessment shall cove all of the anticipated Common Expenses of the Association for that year which are to be shared�qually . by a1l;Units in accordance with the allocation set forth in Section 42. Annual Assessmen s shall be payable in equal monthly or quarterly installments, as determined by the Board. nnual Asses6ments shall provide, among other things, for an adequate reserve fund for the repla ement of thase parts of the Common Elements and those parts of the Units for which the Associ tion is responsible,except to the extent that the replacement is funded by limited Assessments p rsuant to Secdon 6.4. Until the first annual` Assessment is levied, Declarant shali pay all C�mmon Expenses. 6.3 Special Assessments. In addition to annual Assessments, and subject�to the • limit�tions set forth hereafter, the Board may levy in any Assessment year a special Ass ssment agairlst all Units in accordance with the allocation set forth in Section 4.2. Among other�things, special Assessments sha1J be used for the pucpose of defraying in whole or in part (i) thelcost of any ;unforeseen and unhudgeted Common Expense, (ii) general or specific reser�es for main'tenance, repair,or replacement of any part of the Property,and (iii) the maintenance repair, , i or replacement of any part of the Property,and any fixtures or other property related there�to. 6.4 Limited Assessments. In addition to annual Assessments and j special Assessments,the Board has the authority to(and, in certain instances set forth in this Sec ion 6.4, shal�) levy and allocate limited Assessments among only certain Units in accordance ith the following requirements and procedures: � 6.4.i Any Common Expense associated with the maintenance, re air, or replacement of a Limited Common Element shall be assessed exclusivety agai�ist each ' ; Un�t or Units to which ihat Limited Common Element is assigned, equally or byl the cost per Unit. � ; 6.4.2 Any Common Expense benefiting fewer than all of the Units, ma�y, at the Board's discretion,be assessed exclusively against the Unit or Units benefited. � MPL&-Word 95261_11 8 , ' I —�---•------ .. I i I