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20U�U0482 when due, assessments shall bear interest at the rate of 16% per annum and, when shown of record, shall be a lien upon the lot. 18. ASSESSMENTS: Annual and special assessment for the administration, maintenance or improvement of the Commons and Easements and other special assessments specifically provided for in these Restrictive Covenants shall be levied by the Corporation. Annual and special assessments, other than for capital improvements, may be levied by the Board of Directors of the Corporation. Any special assessment for capital improvements shall be approved by the affirmative vote of two-thirds of each class of members affected and entitled to vote, at a regular of the members or at a special meeting of the members, if notice of a special assessment is contained in the notice of the special meeting. The members shall pay assessments to the Corporation within ten (10) days after billed. An estimate of the Corporation's costs for administration, maintenance and improvement of the Commons and Easements shall be made on February 1, 2000 and on or before January 10th of each year thereafter and each member shall pay within ten (10) days of the mailing the estimated assessment. At the end of each year the amount of the total year's operating costs that exceed the estimated assessment, if any, shall be assessed to the members of the Corporation and the members shall pay any excess charge to the Corporation within ten (10) days of the statement. (a) Budgets: Each year the Board shall prepare, approve and make available to each member a pro forma operating statement (budget) containing: (1) estimated revenue and expenses on an accrual basis; (2) the amount of the total cash reserves of the Corporation currently available for replacement or major repair of the Commons and Easements and for contingencies; and (3) a general statement setting forth the procedures used by the Board in the calculation and establishment of reserves to defray the costs of repair, replacement or additions to major components of the Commons and Easements. The total amount shall be charged against the Commercial Properties according to the allocation of Assessment Units. The Board shall annually prepare and approve the budget and distribute a copy to each member, together with written notice of the amount of the assessment to be levied against the member's lot, not less than ten (10) days prior to the beginning of the fiscal year. If the Board fails to determine the budget for any year, then until such time as a budget is approved, the budget in effect for the immediately preceding year shall continue for the current year. (b) Additional Charqes: In addition to any amount due or any other relief or remedy obtained against a member who is delinquent in the payment of any assessment, each member agrees to pay such additional costs, fees, charges and expenditures ("Additional Charges") as the Corporation may incur or levy in the process of collecting from that member monies due and delinquent. All Additional Charges shall be included in any judgment in any action brought to enforce collection of delinquent assessments. Additional Charges shall include, but not be limited to, the following: 5