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<br /> `��'� � month following the date o� alosing. interim aesesa en 11 �
<br /> ! beaome due and payable upon the first day of each calendar month. • _
<br /> .
<br /> �p�r�on 4. Increasea �n Interim Assessments. Interim � � �
<br /> assessments in the amounts shown in 3ection 3 of l�►rtiale V ahall ;-
<br /> � � not be increased more �han five peraent (5�) during the Pirat year F �
<br /> i � after the filing of �he Master Deed, and during eaah auaceeding � , �
<br />_ � year thereaPter, interim assessmente may not be increased more than ; � _
<br /> � , ten peraent (10$) above the level of the immediatiely preaedinq ,�
<br /> , 4 , year.
<br /> _ l3ea��on 5 Special Aesessmen�s. Special assessments may be
<br /> t assessed and levied aqainst each suite in addition to the annual or
<br /> ; interim assesamenta provided for above, during any assessment year ;
<br /> for the purpose of defrayir►g, 3n whole or in part, the aost of any
<br /> aonstruation, reaonatruction, improvement, repair or replaaemen� af ;
<br /> ' a aapital improvement of the common element includinq fixtures and
<br /> ; �l personal property, subject to the owner approval provisi.ons of the
<br /> Mas�er Deed and these By-Laws. Where no provision is applicable,
<br /> ` ; the diecretion of the Board of Administratars shall ccntrol.
<br /> . .
<br /> � Special assessmenta shall be due and payable 34 days after the �
<br /> - � assessment is levied aqainst the owners and notice thereof has been
<br /> � gfven, and special assessments »ot paid within 30 days thereafter
<br /> � shall ba treated acaordinq to the interest and lien provisions . i
<br /> ' heroafter.
<br /> � � on 6 Escrow of Assessmen e�. The Adminie�rators of the � �,�
<br /> �e�*�
<br /> � Assxiatian iaa}• arrange to h�ve all ss��asmente in section 4 or .:�t
<br /> � Section 5 of Article V paid to an escrow fucad to be held and
<br /> � � managed by a bank or savings and loan associa�tion. ;
<br /> J �g�*;on � Personal Assessmen i bili�v. Each suite owner �
<br /> or, ia more than or�a, uw��e�rs, jaintly and �cvcrslly, sha11 be .
<br /> � personally �iable for the payment of ass�essments under the ,
<br /> '� , preceding Sections. Upon the expiration of �0 days Erom the due
<br /> date of an assessment, if said assessment remains unpaid, the
<br /> Association may bring auit against the ownor or owners of said
<br /> suite for recovery o� the aame. If the assesament is a monthly , ;
<br /> installment of an annual assessment, the default in payment of one �
<br /> • installment when due, may, at the option of the Association, cause
<br /> 1 the remaindex of the installments due for that annual period to
<br /> become immediatety due and payable. The defaulting suite owner
<br /> ahall be liable for the unpaid assessm�nt or assessments, interest
<br /> ` thereon from the due date to the date paid at the highest legal
<br /> ' '�� rate, and attorney fees and expenses incurred in the collection of
<br /> ' ! the same. No proceeding to callect defaulted assessments pursuant
<br /> � to this Section shall constitute a waiver of the lien of the
<br /> � � Association against said defaulting owrter's suit� nor a waiver of
<br /> , the right of �fie As�ociation to foreclose thereon.
<br /> The grantee of a suite shall be jointly and severally liable
<br /> � with Lhe grantor for ail unpaid assessments against the latter up
<br /> � to tIlae time of the grantor conveyance, without pre j udice to t�e
<br /> � grantee�s rir�ht to recover from the grantor the amounts paid by th�
<br /> :� ; grantee therefor, provided, however, that upon payment oF a
<br /> � reasonable fee and upon written request, a�y such prosp��ctive
<br /> gran�.ee shall be Qr.titled to a statement from the Board of
<br /> Admirnistrators, or tfi�� Manager, in the form set forLY� in Section 9
<br /> of Article V, khic2� shall be conclusive upon the Association in
<br /> favor of all persons relying thereon in good falth. Unless such
<br /> req�nest for a statement of indeb�tedness shall be compliec] s�ith
<br /> ..t��.s.. �c A�a�� r�f annh renttoat . Yhen SUCh arantee shall T90t be
<br /> wa..���.. �.. � ___" _
<br /> lfab�.e for,�nor shaIll tho condominn�cq suite conveyed tse subyect ta
<br /> a lien for any unpaid assessments accruinq prior to the aiate o�
<br /> such request.
<br /> � The provisions set forth in this SQCtion shall not apply to
<br /> � the initial sales and conveyance of the condominium euites made by
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