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80006998
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Last modified
1/14/2010 4:17:51 AM
Creation date
1/14/2010 4:17:22 AM
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DEEDS
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80006998
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$O...Ot!~5;~9K <br />The Assocfation is specifically authorized hereunder to contract <br />with any professional management company, including any manage- <br />ment company related to or affiliated with Declarant, to furnish <br />professional managemen€ of the Properties and to provide said <br />exterfor maintenance as act forth herein. <br />Section 3. hiaxim~ Aanuai Assessment. Until Jaauarq 1 <br />of the year i~ateiy o ow ng t e conveyance of the first Lot <br />to an Owner, the maximum annuli assessment sieall be Three <br />Hundred Dollars ($300.00) per Lot. <br />(a) From and after January 1 of the year <br />immediately following the conveyance of the first <br />Lot to an Owner, the ma~rimnm annual assessment <br />may be increased each year not more than 10% <br />above the maximum assessment for the previous <br />year without a vote of the membership. <br />(b) From and after January 1 of the year <br />imm€diat2ly fallowing the conveyance of the <br />first Lot to an Owner, the maximum annual assess- <br />ment may be increased above id% by a vote of <br />Cwo-thirds (2,x3) of each c:laas of members who <br />are voting in person or by proxy, at a meeting <br />duly called far this purpose. <br />(c) The Board of Directors may fix tlne <br />axmual assessment at an amount not in excess <br />of the maximum. <br />Section 4. S ecial Assessments for Ca ital Z rove- <br />ments. In a33~tfan to t e annua assessments out orize a ova, <br />tTie'~ssociation may levy, in any assessment year, a special <br />assessment applicable to that year only for the purpose of <br />defraying, in whole or in part, the cost of any construction, <br />reconstruction. repair or replacement off a capital improvement <br />upon the Gammon Area, including fixtures and personal property <br />related thereto, rovided that any :such assessment shall have the <br />assent of ~~n-thir s ~ ~a1-the votes crf each class of members <br />rahn are voting in. person or by proxy at a meeting duly called <br />for this purpose. <br />Section S. Notice and ~'unr~a for An~ :;coon Authorized <br />U2tder Secti~ an 4. ~Trftten notice o any meet ng ca a or <br />t purpose o t ing any action authorized under Section 3 or 4 <br />shall be sent to all members not less than 30 days nor more than <br />60 days in advance of the meeting. At the first such meeting <br />called, the pzesence of members or of proxies entitled to cast <br />slaty percent (60%) of all the votes of each class of membership <br />shall constitute a quorum. If the required quorum is not present, <br />another meeting may be called subject to the saa~ notice require- <br />ment. and the required quorum at the subsequent meeting shall <br />be one-half (~} of the required quorum a*_ the preceding meeting. <br />No such subsequent meeting shall be held snore than b0 days follow- <br />ing flee preceding meeting. <br />Section 6, Uniform Rate of Assessment. Both annual <br />and specie ash easements must a tae at a un orm rate for all <br />Lots and may be collected on a monthly basis. <br />Seeti.on J_ Date of Commencement of Assessments: Due <br />Chat The annual assessments prGV a or nerein spa commence <br />as io all Leis on the first day of the month following the <br />con5repsacs of the Common Artie. The first regular assessment shall <br />be adjusted according to the number of months remaining in the <br />calendar Year. The Board of Directors shall fix the amount of <br />th$ a8#SS6691Q1it against caC~i Lnt at l~a8t t_F'.it't'v ('illl r3a ve in <br />adwaxtce o€ each annual assessment period. ~Irftten notice of-the <br />asseaam~t ah,al.l be sent to every Owner subject thereto. The <br />due dates shall be established by the Board of Directors. The <br />l~ssnciation .;hall, upon demsz-d, and for a reasntu~le charge, furnish <br />a cex'Lificetion signed by an Officer of the Association settin <br />forth whether tlke asst8stsents on a specified let have beer. paf~. <br />-~- <br />
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