Laserfiche WebLink
•�. • �" . <br /> � , <br /> Owner o� the Owner's authorized representative, furnish the resale disclosure certificate. e <br /> Associati n may charge a reasonable fee for furnishing the resale disclosure certificate and ny <br /> documen�s.related thereto. <br /> SECTION 6 I <br /> A�SESSMENTS <br /> 6.1 General. Assessments shall be determined and assessed against the Units by e • <br /> Board, in its discretion,subject to the requirements and procedures set forth in this S�ction b nd <br /> the Bylaws. Assessments shall include annuai Assessments under Section 6.2, and may incl de <br /> special Assessments under Section 6.3 and limited Assessments under Section 6.4. Annual nd <br /> special Assessments shall be a(located among the Units in accordance with the allocat on <br /> formula set forth in Section 4.2. Limited Assessments under Section 6.4 shall be allocated to <br /> Units as set forth in that Section. I <br /> 6.2 Annual Assessments. Annual Assessments shall be established and levied by he <br /> Board, subject to the limitations set forth hereafter. Each annual Assessment shall cover all of <br /> the anticipated Common Expenses of the Association for that year which are to be shared equ ]y <br /> . by ail Uni�ts in accordance with the allocation set forth in Section 4.2. Annual Assessments s ll <br /> be payabl� in equal monthly or quarterly installments, as determined by the Board. Ann al <br /> Assessme�nts shall provide, among other things, for an adequate reserve fund for the replacem nt <br /> of those p�rts of the Common Elements and those parts of the Units for which the Associatio is <br /> responsib�e,except to the extent that the replacement is funded by limited Assessments pursu�nt <br /> to Sectior�6.4. Until the first annual` Assessment is levied, Declarant shal! pay a}1 Comm n <br /> Expenses. <br /> 6.3 Special Assessrnents. In addition to annual Assessments, and subject to e • � <br /> limitations set forth hereafter,the Board may levy in any Assessment year a special Assessm nt <br /> against all Units in accordance with the allocation set forth in Section 4.2. Among other thin s, <br /> special Assessments shall be used for ihe purpose of defraying in whole or in part(i)the cost of <br /> any unforeseen and unbudgeted Comrnon Expense, (ii) general or specific reserves or <br /> maintenance, repair,or replacement of any part of the Property, and (iii) the maintenance, rep ir, i <br /> or replacement of any part of the Property,and any fixtures or other property related thereto. <br /> 6.41 Limited Assessments_ In addition to annual Assessments and spec al <br /> Assessme�ts,the Board has the authoriry to(and,in certain instances set forth in this Section 6 4, <br /> . shall) levy and allocate limited Assessments among only certain Units in accordance with e <br /> following tequirements and procedures: <br /> � 6.4.i Any Common Expense associated with the maintenance, repair, r <br /> rep�lacement of a Limited Common Element shall be assessed exclusivet a ai <br /> y g nst ea h <br /> Unat or Units to which ihat Limited Common Element is assigned, equally or by the c st <br /> per Unit, <br /> i <br /> 6.4.2 Any Cammon Expense benefiting fewer ihan al] of the Units, may, at e <br /> Board's discretion,be assessed exclusively against the Unit or Units benefited. - <br /> MPLS-Word 95261.11 8 <br /> � <br /> ---�-----—-- . .. i <br />