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<br />=� � Ge lon 4.Speclal Assessments for Cepltal Improvements agnd'Eztraordinary Ex-
<br /> '-., , penses. In additlon to the annual assessmenta authorized In Sectlons 3 above,the Asso-
<br /> � . �� - ciation may levy In any assessment year a special sesessment appliceble to that year
<br /> �.,} only tor the purpose of defraying, in whole crr in part, the cost of any conotructlon, r e- _
<br />__.:_.,:;.y�,,:. constructlon, repair or replacement of s cspital impravement upon the common area,
<br />�°'�•`�n ' including whole or in part any extraordinary general expenses of the Assoclation, pro-
<br /> • •:�� �
<br /> :; .� •� vided that any such assessment shall have the assent of three-fourths (3/4) o the vo e
<br />��.��;.,��, :- of inembers who sre votfng in person or by proxy at a meeting called for thls purpose.
<br /> -• �-•��'� One-twelfth (1/12) of said assessments shall be due and paYable ane rnonth from the
<br /> .:�4�.,,•::ry
<br /> �'�`�'�':::;. dat�of levy with a Iike sum due and payeble each and every month thereafter, along wit
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<br /> .�:..: .;,,,,:� the regular assessments with respect to eatd lot until said aoseasment shall be paid i n
<br /> - ; .`;F-� full.
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<br />_`�:;�c'?�:� ectlon 5.Date of Commencement of Assessments:Due Datss. 'The regular assess-
<br /> :.��,f,�,� � ments provided for heroin shall commence the month follow(ng the adoption of these as-
<br /> �-.r..;y sessments.Tha Board of Dlrectors shalt fix the amount of the assessment against each
<br /> ��;���:�.
<br /> ;:;,,.:.�. .,, Owner at least thirty (30) days in advance of each annuai assessment perfod. Wr tten
<br /> - ��_'a�. "' notice of the assessment changes ehall be sent to every Owner subJect Ihereto. The Aeso-
<br /> ?�' `�'�`� clatlon shall, upon demand, and for a reasonable charge, fumish a certiffcation signed by
<br /> ���'�.-,
<br /> - �r: � an officer of the Association setting forth whether the assessments ona specffied Town-
<br />.=�'9'..''�:�-� Vq R1Ffr1 a�C�.
<br />_.¢:.r." hQlYlB tl�. h_ Q ,
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<br />=: _:���� � ection 6. Eflect on Nonpayment ot Assessments:Remedies of tha Assoclatlon. Any
<br /> ..M:+N•�•:��;�;
<br /> °�°°+t��• assessment not pad withln thirty (30) days after the due date shall bear Interest rom
<br /> ...-PM1��.�- �
<br /> °_�� �- the due data at the rate of nine percent (9%) per annum. If three or moro monthly f n-
<br />-A-•-'�.a:.�:=� stallments of assessment on any Townhome shall be unpaid, then the rernalning instalf-
<br /> :_�:s�ti�� ments of the assessments for such fiscal year, at the option of the Board of Direct�rs,
<br /> _ .,��,i� shall ber.ome at once due and payable.The Assoclation may brin� an actlon at law against
<br /> ==�:��- { the Owner personally obligated to pay the same, Qr foreclose the lien agalnst the prop-
<br /> ''�''�=�:.� erty in the same manner as provlde d by law tor forec los u r e of mort ya ges.Na Owner may
<br /> waive or otherwlse escape Ifability for the assessments provided herein by non-use of
<br /> ��.?'"`���`-�' - the common area�r abandonment of his Townhome.
<br /> �-���
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<br />_�;,:;;g:,��""�`�] ection 7. Subordination of ti�e Lien to MoRgages and Release of Lien. The Ifen of
<br /> '���`�"�"''� the assessment provided for horeln shall be subordinate to the lien of any first mortga-
<br /> ;: .,.•.;:.,
<br /> -�.�.�'=.y;.,r. gee may rely on this provision without execution of any transfer of any Townhome shall
<br /> ='�w'�'� =� � not affect the status or priority of the Ilen for assessments made �.s prov�ded herefn. The
<br /> " �^�`��� � • .� Board of directors af the Assoclatlon may release the ilen of past due assessments on =
<br /> -��:��,,��_
<br />- �����, ....' property as to which the first mortgage is in default if the Board determines that the Iten
<br /> = ���=�� has no value to the Association.
<br />_I�Y�y��,�.M ,•
<br /> 's'•'� efld$CCept@d b a IOCBI
<br /> -.` •������ Section e. Exempt Property. Ali propertles dedicated to, Y�
<br /> �� � . public authority and all prope►tfes owned by a charitable or nonprofit organization ex-
<br /> empt irom taxatfon by the laws of the State of Nebraska shall be ezempt from the as-
<br /> t sessments created horein except that no lot, tand or improvements devoted ta dwelling
<br /> ' - � use shall be exempt from said assessments. _
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