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<br /> �. make up ,�ny deEicit in the enaator. expenea a.eeeeeaente �nr prinr y*+nr.n. The budgaC rha17. be adoptarl iu April aS ��.���.��
<br /> . • .,,a.�,...rr �f +ha rc^�i�c fLnczl yea:. Mnd co�i,eg nf thc k'.:d.g^T. snd the ahnual Geeaeaxtr:fte for vech tu�Ce ..�
<br /> � ehall�br�`ann+ to each :,u�t' or+ties on ar Y�e£ore tta °a}• :�t �ogir.aing oF Yhe tiscal year foF w5ith tha �qaY ie
<br /> n�da. �.
<br /> sudgetn may be umendcd Suring' x current £isca:. ye�r whece necaeenry� bvt cop�ee ef the amendod 6udgat �.k. �
<br /> !�,.•3 ;p�,,�
<br /> � • aad nzopoaed anr.ceaec oz decreaee in annexements sha11 be rai.le3 to each au:e ovz�eF p=i�t to the effective date ��1�
<br /> � o£ evch iacraaae or dacr.eaes_ � '
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<br /> SdCt1Ol� 2- �121I11'.A). 319�EHA��nt!_ � �:F'^
<br /> eaemant nhall �ra Sevzed a aiask. ench �Lite and che ovnnr khereof pn May 1� 1995 or �����
<br /> ��� Tha £irst annual aee 5 �'�.''��;�
<br /> �,; � HQy 1 of thp next fiecal ynaz' a#ter ra�.ir.quinhmant of ccntrol of the Aeaxiatiaa 6y naveloper� whichev�x shall �#y !.
<br /> ' ��� laot occux_ Tha aztnval asaesnzent eha7.= 6e divided ns evenl} iato twelve (12) monthly paymenta •.a paetible with n,�;� ,
<br /> ;�� ,j tha fizet payaent ta include the -amaindez a£ter divietan. iheea manthly pa!iment■ ehall bacame due and Payable � �a ���:.,
<br /> upor. the Iet of ![ap nad the Sst qE eack month the7:eafter 3uring Yho Eiaeal yeaY. . Annual asses6ments for ewch
<br /> � ��� ��� fincal y^ar thereaLter aha7.1 ba levied and ehall �ecc'ace due and pnyab.la in the enme mn.naier. Annual aeeeeemente �����y
<br /> ��� � tp be levied againot aach euiYe and the rn+ner thereof ahall be ccmputed�acrosdiug to euch euiYe'e ehaxe o� the r„���
<br /> � .:� «p«al anncal bcdgat for the fiecal yeai baeed upon the phxcentage of euCh euiCe�•e h�sie valua+ ae set farth !.a �, ��
<br /> ., .� ?aragraph IV of the Maeter beed. . �
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<br /> r�acause ineuranca� xepaiY ar.d nainYqnance ar,d othar dizact ccyts Are chaxgeahle to the cond[�ainium.rhleh
<br /> .x �ane'_itn ir.c� the�, thn cuitee in different condoainiu�s +aay no: have eqval':amonnt• of aeaeena�enLm.
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<br /> . Section 3 Ynterim Aaseeen�ente. � �
<br /> � `
<br /> � � ,����� Gr.`_11 May I� ]995� ar unti71 th^ fzzet levy of annual aee,easmente acrordinq tn SecCion 2 of Axticla v�
<br /> '��� a£t•s' thn Developer ehdll relinquieh cc:ltrol of tha Aosociation� thv foLrn:ing inYexi-u ateeaementa ehcll be dua �
<br /> �
<br /> ..a and �ayabl.e on the fi7et day of each calondar month: � �
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<br /> . :. � Suite Znteria Ac9een:aent � �
<br /> . ..��.,,� ti��.r.ber Prx Hanfh .
<br /> ..���,� 1 550.00 - • � .
<br /> 2 550.00
<br /> � �r The £izst ir.�ex.ic aseenmm�nc shall Hccrue� au to a puzchaner af�a auiCe #zom Developet upan the 1i.zst �
<br /> .����i dny of the ne�ct ealeadaz month FolJ.owinq :he d=ta o°_ clpaiag. Interim aeeee6aente uhall p.ct."ae dua and payablv ,
<br /> � � ' upon Yhe f-:ret day qf each �alendar man_th_ .
<br /> � �y ectian 4. Tncrr.aeen in Interim Aeneenm�nta. � , �
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<br /> � Tntarim a:¢eaamenta ir.tha zmaunts e;'r.own ia Secticn 3 of Artial.e�V nhall not bt�,i�r.renaed more than five
<br /> ��� porcen� (5�) during the tixnt year nfter Lhe .:1ing o°_ the HaaYnt,3eed� and dering each eucceeding year .
<br /> � . �� thareaftrr, interim aaeeaemnntg mey not be is:cFeaeed m.ore than tan percent (lOS) ���e tha level af the .. ,
<br /> �a icaediateJ.y preceding year. �� _
<br /> .����� 5ection 5 S ecial ]taeenamer.te. � � �,
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<br /> �� �� � � 5 ^.al aaeea¢aanta �ay ba asaeneed nnd levi^d aqai�si cach nui:e ia'addit7.on to the ar.nual at iaterim �� �
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<br /> .., zeeenumente provided for abova� during any asneesmer.} year for che puxpoee of det:ayinr, ia`+holv or in paxt� tue
<br /> .. ���� cocst ef uny conetructznn, reronntXUCtian� iriprove¢�ent, renair vz replacement,of n capital impxovement af tho
<br /> �.�.':i car^i�n r_l.Fmnnt includina fixt�zree and pezeonal p=qparty� eu6ject to the ewner appXOVel p[trviaiona of the Maate[
<br /> � � � :Jcr,d and theae By-Lawa- Hhere Zc pr.oviaion ia s2kiirabl�, the diacra:ion o� the $aard oE Adminiatratoxtt uhall .
<br /> � � conLYo1. . ' � ,.
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<br /> ` Snecial anneesmente aha1L b- dua and payrhlo thirty (30) daya a�tar the,�-�as�eeaent ia levie3 aqainet the � ���
<br /> � � rncr.era ancl notice the�enP has bean given� and npecial aseesements nat paid withia thizYy (30) daye thereaftet �,
<br /> � nhz.l� ba treated accordinq tn the interoet aad lien prwiaione hereaf:e:. �� �
<br /> �
<br /> � Sect!cn 6. EncrCw of Ae.;anemer_te. . � ' � . .
<br /> �
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<br /> .ry Tho acim.inioCratore of tha A66DClIICIbn may arrango to have nll neeeaearante� in Sect:.on 4 or Seatioa 5 of ,
<br /> � � �� ..rticle 7 paid to an encxvw fur.d to be held nnd mannged 6y a �nnk or eavi.nge and Soan aseociatSnn_
<br /> �� Sectio� 7. Peraona]. Anesannmonk LiabiliY. - ' .
<br /> 1 -
<br /> � ] Ench suita wner or� z£ more than ane, ownesa, join!ly and eeverally� shall �a petepnally Sis61e far Che , � �
<br /> , ' �, paymen` of aeeennmr-nte undez� the preceding Sectione. Upon the expiratipn of thirty (30) daya frwa the due data „
<br /> of an nneenamont, if eaid anaeeament remains unoaid� the 7+anociation may 6ring euit againat the owner or ownpsn
<br /> of oaid 6ll1LB for recwery of the name. If Yhe anaeeament ig a aonthly lnatallmant �f an annuel AbbG66�p0i1C� the . .
<br /> � defauLt in payment qi one inataJ.lmont whnn dun� map� at the cption af the Aeeoci'ution� cauae the xemAinder oT the . �
<br /> ir.Atnlinente due for that annual paziod to hecnme immadiately r3ue and paye�Pala. The defe.u].Cinq euite ownex ehall �
<br /> , ba_ liable f.ox the unpald aeoeanment or aseeaem�nCe� intercet thereon fram the due data to the date paid at Ehe ,
<br /> highoe� legal zatio, und attorney feaw and expeneen ineurred An the collact�an o£ tha eama. Ha prxaading to ..�
<br /> � � colloct de£sulted aeeeeementrs puz'avant to thie Saction eha11 conetituta e.xaiver�of the lien of the Aeoxiat�on . � .
<br /> �� � aqainat eaid deEaultinq ouner'a nvite nor n waivor o£ the right of tha Aee�ociation tn forecloee thareon. � �
<br /> � �. Tha grantee o` a auite aha11. be �o.intJ.y and eevesally lieble wiYh the grantos fax nll unpnid aeeaenm,ente �, �
<br /> ���� a.ryainut the latter up tc�thr. ticae of the qran.tor convayanCV� without prejudice Lv tHe qcanEeo�e right to 7tecavec
<br /> £zon tha gsantor tha ameur.ts paid by the giant4e thorofor� pravided� hrnrevec� thnC upan psyment of a reaeonable .
<br /> � �� :Pe and u�on wzLtten xaqnent, anp auth pionpective grentae oha11 be entitled :o a etatement fraa the 6qard of
<br /> �� I Ad.minin�r+.Core� nz the Hnnagez� in tha folm net forth ln SecCian 9 a: Asticle V� whieh ehall 6e canclueive 4pon
<br /> � .��4 the naeociatian in £avn[ nf ali persone relping theXepn in good faith- L'nleea auch saqueet far a etattment a# , . ��..
<br /> � � indel�tedneae ehall 6a comp7.ied with with,in Eifteerz (15) dayn of auch xequeeC� than nuch qranCee eha11 not ba � �
<br /> i
<br /> . � :�{ 1Aablo fot� nor ohal.l Yhe conda:.inium nuite convayed 6a eu6ject to a lien Eor any unpaid aeaeaemente attttying . �
<br /> � �' prinz tn the dntn of nuch s�qveaC. �
<br /> � The pswi.eiann ent fiorCh in thiq Saotion ehe11 noY apply Ca Che irtitiel e�las and Conveyancas of Che . �
<br /> � candc�ainiula nulYen m�dn by che beveloptz� and euch ealae dhall be Prea fr[an all aeovaemente to the datp of
<br /> i
<br /> „ convayano9. �
<br /> sertian �: nnnananent z�i r..
<br /> � I: any evite o�a: ahall fail or rafuee ta caks any pny:rent o: an a�esaemant when due� the uaaunt therwi
<br /> �
<br /> :r�i nha7.1 conetitute e lien on the intereet af tho nvita ownex in hi.e evite snd the Adatnietrators may recoxd euch
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