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201206562
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Last modified
9/10/2012 2:52:03 PM
Creation date
8/8/2012 1:43:31 PM
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DEEDS
Inst Number
201206562
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2012Q6�E� <br />25. EASEMENT OVER COMMON ELEMENTS: The Executive Boazd may grant <br />easements, Ieases, licenses and concessions over the common elements for the installation and <br />maintenance of utilities and for such other purposes as the boazd deems to be in the best interests <br />of the Condominium. <br />26. COMMON EXPENSES AND LIEN: The members sha11 pay annual and special <br />assessments for the common expenses. The cost of the operation, repair and maintenance of the <br />common elements sha11 be an expense of all of the Unit owners. The cost of the operation, repair <br />and maintenance of the limited common elements sha11 be an expense of only the Unit owners to <br />which the limited common elements aze allocated. Annual and special assessments shall be in <br />proportion to allocated interests shown on Exhibit "B." Each member's assessment shall be <br />determined on an annual basis for each fiscal year, prorating fractional years and any changes in <br />allocated interests. An estimate of the Association's costs for administration, operation, <br />maintenance, repair and improvement of the common elements and limited common elements <br />shall be made annually and each member shall pay one-twelfth of the members allocated share of <br />such estimated costs per month in advance. <br />The Executive Board may provide a discount to members paying annually in advance. <br />At the end of each fiscal year, a statement of the total year's opera.ting costs may be presented to <br />the members of the Association and the members shall pay their allocated share of any excess of <br />such actual costs over the estimated costs to the Association within (30) days of the statement. <br />Any overpayments shall be credited to the ne� year's assessment. <br />a. Budgets: The Association, upon request by a majority of the members, sha11 <br />prepare, approve and make available to each member a pro forma operating statement or budget <br />containing: (1) estixnated revenue and expenses on a accrual basis; (2) the amount of the total <br />8 <br />
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