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<br />Sectio:~ 3_ Interim ?issessments. <br />Urtil*A~rii l,: 1983 or until the first levy. o*' annual <br />~ssessrner.ts 3ccardng to Seetien 2 of Article V, after: the <br />Developer shall r~~~linquish cantral of the Association, the <br />following i^terim assessme:~ts shall be due and payable on <br />the first da~r a~ eac'.~ .;alandar month::: <br />Suite Interim Assessment <br />t3sL~rtbe~ 4Per Fionth) <br />~^ $?5U~ <br />2°'re first interim assessment shall:acerue, as ±c a <br />purchaser: of a suite Pram Levelaper upon the first .lay ~_ <br />the next calendar month €o1.Iawinq the date cf closing. rterim <br />==ssessr.~n~s shall becaane aue and payah:le upon the fi-rst c3a~a~ <br />_,! eac^< calendar mont2}. <br />section 4. Increases in _Tnterim assessments. <br />Intexim assess?nants -in the amounts shown in ~ection 3 <br />of :~ t?:cle ~~ shall :lot be increased more than five percent <br />({? ; d:~riny the. first year after the 'filing of the P9c,-suer <br />:Heed, and during eae~ti suc:oeec:ng year t?~ere~{ter, interim <br />assessments rlay hat he increased more; tha:~ ten percent f10`.) , <br />at~~e ':.he level of the immediate3y pr~rednc.a y~-ar. <br />Sec;._c^ ~. 5peezal;~ssessments: <br />Sisecial assessr~zents may txe assessed r;~rt~; leva.ec against <br />ea~:h suite in adci_t.ian tv the. 'annual cr interim rasscssss'nent5 <br />ptr~uir~ed' fr,r a~ve, jurir,~ any ~~ssesyrrsent y*e:;ar for tare <br />~uase oaf de.frayinn, in srhaYe ar r. part,, the cost of any <br />ea:isLrur_tiv ~, rccon:~trucr_ion. ir.:p.pvcmc~nt, rej~~air c .- re- <br />p.acement oz a capir.a:r irzr~:~ra'e'ernent. ~t ~~~;e rcmmon e_~=ment <br />~nciuding r".:xL~ares and pc=:,,~~nai ~ r:~pf~rfiy. ~~ui;lect the <br />awrer apprcva2 prcvisionz:rt the MastL'~ ~c>eu and t Lse II~r- <br />Laws. there no ~srovisior. is ~iF.~~licablc~, the discret.ior. of <br />the :3c:ard a,>" i~s~tzsna strater::~ stlali cont:resl. <br />~pecia~ assessments shall_ k~s due and ~sa,~abie rhirrl <br />(3C) -.ays after the assesst*rent is levie?d aga;rrst r;l~. ow::ers <br />and notice t::ereof `gas teen given, .end special .~ssr smcnts <br />~~ot pair3 within thirty t ;~ 1 day s therea~t~!x` shalis,;f~ treatec9' <br />arccrc ,g to the _.,terest -~,^.d Iien nr~yuisic>ns here<lY•_~::x . <br />Sect: on 6. Escrow of AssNSSntents. <br />""tee r`-.dS.^.i`?istra't£7rs o£ the Assaczatian :may ;~: range tc; <br />have .1! ds5e3SrS:C'r?t5 ... Se6tiot~ 4~rSectian -~" ~-'`_iClk' ~' <br />paid t:: a_a escrow lard to be ha id and .nanage.~ :;y _ sy,s.nk or <br />sat•ir.ss and scan association. <br />Sectio:: _ ?erso al Y~ssesSrrent Z.iab.ility. <br />'a~n suite o^«ner az'; i,z" mare than ant.. r3wnerr joint. <br />and severally, sral' Se per so^aSy ii,b3s~ for the pa -;r~,=r J~~ <br />ass;as~nts wader _tie pr~cerii:~g~ectiQns. ~.~';~on t~'.:L c.,z~:W~. __~_-n <br />-iG- <br />