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202002679 8.4 Subdivision Assessments. All Subdivision Expenses shall be shown separately in the budget adopted by the Board. The Subdivision Expenses shall be assessed solely against the Assessable Lots within the Subdivision Assessment Area. No Subdivision Expenses shall be used in computing the Regular Assessments to be levied pursuant to Section 8.2. Unless otherwise provided for in the applicable Supplemental Declaration, Subdivision Assessments shall be levied in an equal amount against each Assessable Lot within the Subdivision Assessment Area. If the Board determines during any Assessment Period that any Subdivision Assessment is or will be inadequate to pay all Subdivision Expenses for any reason, including without limitation nonpayment of Subdivision Assessments by Owners, then the Board may increase the Subdivision Assessment for that Assessment Period and the revised Subdivision Assessment shall commence on the date designated by the Board. In addition to a Subdivision Assessment assessed pursuant to this Section, the Association may assess a special Subdivision Assessment against each Assessable Lot within a Subdivision Assessment Area for the purpose of obtaining funds to pay the cost of any construction, reconstruction, repair, or replacement of an Improvement situated on the Subdivision Common Area. Any such special Subdivision Assessment shall be levied in an equal amount against each Assessable Lot within the Subdivision Assessment Area. 8.5 Enforcement Assessments. The Association may impose an Enforcement Assessment against any Owner for any Collection Costs incurred as against the Owner and any monetary penalties levied against the Owner. The Enforcement Assessment shall be automatically imposed against an Owner at such time as the Collection Costs are incurred by the Association or, in the case of a monetary penalty, the date the monetary penalty is imposed against the Owner by the Board. 8.6 Assessment Period. The period for which each Regular Assessment is to be levied shall be the calendar year, except that the first Assessment Period shall commence on the first day of the first full month following conveyance of the first Lot to a Purchaser and shall terminate on December 31 of that year. The Board, in its sole discretion, may change the Assessment Period from time to time. 8.7 Obligation of Declarant and Designated Builders for Deficiencies. During the Declarant Control Period, the Declarant and the Designated Builders shall pay and contribute to the Association such funds as may be necessary, when added to the Assessments levied by the Association, to pay all Common Expenses of the Association as they become due. The payment of any such amounts shall be allocated between the Declarant and the Designated Builders on a pro rata basis according to the number of Lots owned by each as of the date the payment is requested by the Board. The Board may require the payment of such funds from time to time as the Board deems necessary by giving written notice thereof to the Declarant and the Designated Builders. Each such notice shall state the total amount of funds required and the calculation of the pro rata share to be paid by the Declarant and each Designated Builder. In no event shall the Declarant or a Designated Builder be obligated to contribute funds to the Association in excess of the amount that would have been assessed against the Declarant or Designated Builder had the Lots owned by the Declarant or Designated Builder been Assessable Lots. 8.8 Rules Regarding Billing and Collection Procedures. Regular Assessments shall be collected on a semi-annual basis or such other basis as may be selected by the Board. Special Assessments may be collected as specified by the Board. The Board shall have the right to adopt rules and regulations setting forth procedures for the purpose of making Assessments and for the billing and collection of the Assessments; provided that such procedures are not inconsistent with the provisions of this Declaration. The failure of the Association to send a bill to any Owner shall not relieve such Owner of liability for any Assessment or charge under this Declaration, but the Assessment Lien therefor shall not be foreclosed until the Owner has been given written notice, at least thirty (30) days prior to such foreclosure, that the Assessment or any installment thereof is or will be due and of the amount owing. Such notice may be given at any time prior to or after delinquency of such payment. The Association shall be under Page 35 of 52