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<br /> 77-007305 °��
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<br /> annual budget for the then anticipated fiscal affairs and �" ° ` �yi ���
<br /> general operatians of the corporation for such fiscal year , in �� , � �Fp�
<br /> accordance with the procedure set forth in the Declaration . ,,,, = ���
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<br /> c . ASSESSMENTS : Assessments shall be ascertained and col - R��`' , x ;�-
<br /> lected as �-ows : Standard monthly assessments for each im- �° r , ;'�,�;'
<br /> proved lot as defined in the Declaration shall be a sum �y ,�'
<br /> equal to the surn of one - twelfth ( 1/ 12 ) of the annual main- ° y `�
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<br /> tenance assessment established by the board as being the ,� ,. �,ri
<br /> assessment necessary and requisite to completely fund the �� ; ��;^�
<br /> budget established for the fiscal year taking into consider- ' ° � '`�'
<br /> ation the maintenance assessments due from unimproved lots and � „'�
<br /> any other sources of income , plus any other special assess -
<br /> ments or charges for general capital improvements or extra- ♦' �'" ��"{�
<br /> ordinary general expenses of the corporation or charges for ,� �"� �,. '�
<br /> facilities provided or services furnished to the Association , 7� ;� M;;;
<br /> as defined in t2ze Declaration which may be due with respect G• , ;t' �`4k�
<br /> to said lot . Tlie monthly assessment shall be made on or before ,I� „„ "
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<br /> the first of each month and shall become delinquent if not paid A � '
<br /> H v^ y'^f�'y ��,.�:
<br /> within thirty ( 30 ) days thereafter , and constitute until paid a �' �
<br /> continuing charge aqainst and lien upon such lot , as provided � ' �'=�,�r�.
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<br /> in the Declaration . ; N'��4,
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<br /> d . DEPOSITS , CHECKS AND LOANS : Funds shall be deposited and "
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<br /> withdrawn and additional funds borrowed as follows : " , x��"�'��
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<br /> ( 1 ) Funds and money of the corporation may frorn time to ,Af ;, '��.
<br /> time be deposited by ttie officers , agents and employees in ;;;�+�� : '
<br /> any depository or depositories located in Nebraska or where- ° ;` ^
<br /> ever directed by the Board of Directors . � � �: ,,�" .
<br /> � ' .���er'�r
<br /> ( 2 ) All checks , drafts or other orders upon the corpora- ��� ,;� �';
<br /> ; tion shall be signed by the Treasurer or any one or more other ��` � �� _ ,„ �, �� '
<br /> r officers , aqents or employees directed by the Board of Directors . �,f, ;, , x,
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<br /> ( 3 ) The Chairman or any one or more other officers di - ��t , �
<br /> rected by the Board of Directors may negotiate and consu�nate ;y�- f ��
<br /> for the corporation all arrangements appropriate , convenient
<br /> or necessary for any loan to it . -«'
<br /> SECTION 7 : RECORDS
<br /> a . BOOKS , RECORDS , AND REPORTS : The books and records of the
<br /> corporation s a 1 be maintained at the registered office or `
<br /> wherever directed by the Hoard of Directors , and the officers ' �
<br /> ahall at each annual meeting of the Reqular Members and when
<br /> � ` otherwise called for at any meeting of the Board of Directors
<br /> present a clear and full report of the condition of the affairs
<br /> of the corporation . �
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<br /> b . DELEGATION OR RESPONSIBILITY : The Board of Directors may • �. <
<br /> by contract or otherwise de egate to any person or corporation ` ., �
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