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$4- ~-G0585 Section d! Compensation. Compensation of officers shall be fixed by the Board of Administrators and shall be reasonable compensation con- sidering the duties of the office. Any Administrator who is also an officer shall not have a vote in the setting of compensation for the office oz offices held by said Adminif- trator. Section 9. Agreements, Contract, Etc. All agreements, checks, contracts and other instruments shall be signed by two officers of the Association or by such other person or persons as may be designated by the Board of Administrators. ARTICLE V. BUDGET AND ASSESSMENTS. Section 1. Budget. The Beard of Administrators shall adopt a budget for each fiscal year, beginning on April 1st and ending on the next March llst, which shall include the estimate of funds required to defray common expenses in the coming fiscal year and to provide funds for current expenses, reserves for deferred maintenance, reserves for replacements, and reserves to provide a working fund or to meet anticipated losses, and such sums as needed to make up any deficit in the common expense assessments for prior years. The budget shall be adopted in March of each year in advance of the coming fiscal year and copies of the budget and the annual as- sessments for each suite shall he sent to each suite owner on or before the April 1st beginning of the fiscal year for which the budget is made. 3udgets may be amended during a current fiscal year where necessary, but copies of the amended budget and proposed increase or decrease in assessments shall be mailed to each suite owner prior to the effective date of such increase or decrease. Section 2. Annual Assessments. The first annual assessment shall be levied against each suite and the owner thereof on April 1, 1984 or April 1 of the next fiscal year after relinquishment of control of the Association by Developer, whichever shall last occur. The annual assessment shall be divided as evenly into twelve (12) monthly payments as possible with the first payment to include the remainder after division. These monthly payments shall become due and payable upon the 1st of April and the 1st of each month thereafter during the fiscal year. Annual assessments for each fiscal year thereafter shall be levied and shall become due and payable in the same manner. Annual assessments to be levied against each suite and the owner thereof shall be computed according to such suite's share of the total annual budget fo* the fiscal year based upon the percentage of such suite's hasic value as set forth in Paragraph IV of the Master Deed. Because insurance, repair and maintenance and other direct costs are chargeable to the condominium which benefits from them, the suites in different condominiums may not have equal amounts of assessments. -9-