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99106377
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3/13/2012 6:13:58 PM
Creation date
10/20/2005 11:47:46 PM
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DEEDS
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99106377
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9� 106377 <br /> response was given within 30 days, the request would be deemed approved. If requested by any <br /> Consenting Owner, whose proportionate share of the expense is $1,000.00 or greater, the <br /> Maintenance Director shall follow the bidding procedures set forth in Section 6.4 with regard to <br /> any repair or replacement performed under this Section 6.7. <br /> 6.8 The Maintenance Director agrees to perform its duties under this Article 6 <br /> on a nonprofit basis (except as to the management fee described below) with the objective of <br /> keeping expenses at a reasonable minimum. The Maintenance Director may charge a <br /> management fee, to include all service and administrative charges, of ten percent (10%) of each <br /> Owner's pro rata share of Common Area expenses; provided that (a) the ten percent (10%) charge <br /> shall not exceed $350.00 for any line item in the approved Budget without the prior written <br /> approval of the Consenting Owners; and (b) such management fee shall not apply to amounts <br /> spent for capital expenditures to the extent any single such expenditure exceeds Three Thousand <br /> Five Hundred Dollars ($3,500.00), or to utilities or insurance. The Owner of Parcel2 shall not <br /> be required to pay any management, administrative, or service fees to the Maintenance Director, <br /> other than the 10°Io service fee discussed in this Section 6.8. The Maintenance Director may <br /> charge such additional and reasonable service fees as the Maintenance Director desires, provided <br /> that such additional fees shall not apply to Parcel2. The Common Area expenses shall not <br /> include any costs incurred by Maintenance Director for the services of a manager or management <br /> company or I'or office overhead or compensation of its employees, except to the extent covered <br /> by the management fee provided for in this Section 6.8. <br /> 6.9 Prior to the commencement of each Maintenance Budget Year (and the <br /> First Partial Maintenance Budget Year), the Maintenance Director shall, upon the written request <br /> of any Consenting Owner, put out to bid, in accordance with the provisions of Section 6.4(b), any <br /> contract for Common Area maintenance work as to which, in the previous Maintenance Budget <br /> Year, the pro rata share of the Consenting Owner making the request was at least $1,000.00. A <br /> Consenting Owner wishing to have work put out to bid shall make such request by May 1 <br /> preceding the deadline for submission of the proposed Budget to the Consenting Owners under <br /> Section 6.2. The Maintenance Director shall not enter into a contract which is binding for a <br /> period of longer than one (1) year in duration, for any aspect of Common Area maintenance. <br /> 6.10 The limit of $3,500.00 set forth in Section 6.4(a), and the $350.00 limit <br /> and the$3,500.00 limit set forth in Section 6.8, shall each be increased on every fifth anniversary <br /> date of this Agreement, by 10% of the then-current amount of each such limit. <br /> 7. Billing for Expenses. <br /> 7.1 Within ninety (90) days following the end of each Maintenance Budget <br /> Year, the Maintenance Director shall furnish to each Owner who is obligated to contribute to the <br /> Common Area expenses for the Maintenance Budget Year just expired, a statement covering the <br /> �n <br />
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