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<br /> Beation 1. AAnnal A�ws�onta. ���
<br /> SAe fini annual aoea�t:.cirL okall Do 2avied aqeiaet each aalt aad the c�mer tnereol oa aay i, 3997• or agvn - _
<br /> r�13�uis�asat oi coatsol oi tAs Jlseoeiatioa by Q�valopsr, vhieLever�h�ll lizat ocenr. Th��naual uo�s�meaL �Lall br divided ��--.,T
<br /> , aa evenly lato trtive (12) eoatUly paqsonto ne Foaeible vitb Lha Lfset pny�ant te iaelnda tho rm.�ninder atter divisioa. TE+eat � �'
<br /> - maatLly yaym�at� �II�11 b�eoas Eu� ond paynble uyoa the let oY Nap u1d the l�t o!esah anath theraaftsr darinq ths Pisenl ya�al. •
<br /> :; JWnnal a��tae�nC� Lor�aeE tiaeal ysar tEer�aft�r �Aall bs Lwied aad�Ilall bee�a due and payable ia the aaae mnaaer. Ananal
<br /> •�sss¢�nt� to b� imrl�d aqain�t�acA uai! aad tL� a�mer tLezeof shall be empcud accordfag tc �nea nnit•s �hare oi th�total � „ .
<br /> aaanal hadgx !or cAo liaeal qeer bneed apoa the pereeataqe o! oneE nait•e baeie value nn �et iorth in parnqrapL IV of LLe , . � ._
<br /> DeCl�ratioa. ' , '
<br /> ' . ' .
<br /> Seetion �. IAteria Jbeeoaaonte. - _, � ..-
<br /> Oatil Nnp 1, 1997,or oaLil iLe fixnt levp of annnal naaeaarrtffte acaonlinq to Sectioa 7 of ilrtiele 9� after the DeveloFer _ °
<br /> . stall ralinqnisIl coatral of the Aswciatiaa, the Lollorinq intoria u�s�ansate sLall be due aad papable oa the firnt dsq ot each - - - -"'- ---'
<br /> ealondns eoatb: '
<br /> � Qait Homber Iuteria AsseseaeAL �. -•• . -
<br /> (Bu coath) . _ . ia':,
<br /> 1 Sao ' .. . ` .'°�•'. . .
<br /> s Sno � - .
<br /> :,.s:�`•:=��.. ,
<br /> Tbe fizsY iaterfm aaseeeaeat�hall accrue, m to a pnrcharer of a nait fr�Developer apon tho firat day oE the aezt ;::�t�d5-_��-:
<br /> calaadar ao�h tollariaq the dats of olosiaq. Iaterim asaesemeaLs eball beccxe due and papable upon Lhe firnt day o! eaeD . ------
<br /> w1�Adaz 7oatb. '"'�T-r:nr,=,..
<br /> , s���' ---
<br /> eection �. iaareeae in Iaterim Aaeeeaneate. . ,�::•�- .
<br /> i:;;;:,�.. �. ,_ . .
<br /> I�rla aacee�asala ia the aaauata nhomn in 6ectioa 3 oY 1lrticle V ehall nat be iacznased eaze thaa fivo cent (5t) . �f�:_.c,;.,,- -.
<br />� duriaq tIIs firat y�ar after th�filiag o! Lhe Declnratioa, �ad dusiag�ach enceeedinq 9ear theseatter, ����s�eab ma `�`f'• 'r�.",'' `
<br /> y •,:y�;,;F . .
<br /> � nat L� inar�awd acr�thaa tca percent (l0i) abavo tde lwsl 01 ths imtxedlately gzecediaq pear. ��= �£i;j - --
<br /> ���'.:•`�%�"�;� ,.
<br />- S�ativa S. Soeaial tlseesmeats. �
<br /> �{;'`�,s.,.,."'�!''�.
<br /> ';�-,�,�;�:,:�� ;,` ,-
<br /> S�ecial useasmeat� may be u�ess�d and levied aqainat eaab nait i.n additioa !o t4e annual ar interim a�:ea�ents • ���'•c+• -
<br /> � f•c above� darin aa ueao�M eaz!or the ie of da1 iag� in vholo or in tEe eoot of aay conetznation. '�,�1�r' `'"`'� ' -
<br /> B� 4 Y 9 Po� mY F�. ; �rq:, h.cf.. ..�..;�� .,
<br /> s�constraxiton.1IIyravwat• ropair or s�placwant o!�wpital ivpsov��ut o!th�ca�oa el�meat iaoludiag lsntnres and p�rwnal `��'��.�y ..
<br /> propestp, s�bj�at to th� wner approval grovlsiono �a!th�D�claratioa and tL�ss Sy-Iara. HEere ao pzwiaion ie applicabls� the .��� �.� _
<br /> discretioa o! tbe 8aasd o1 lldminieiratore eLa12 �.Ytrol. ' -
<br /> . •�ct•n.�,.:.� ".!r,rf�^�-
<br /> .)!�.
<br /> Spsaial as�essnaats �hall be dne aad�u;,c:°v thirty {30) daqs after tAe neaeeemant ie lavie3 a3ainst the o�aero nnd _ �°'""�'
<br /> (:.1'i
<br /> - notic� thorso!ha� boea qivsn, aad apecial aaaeccaoats nvG paid witLia tIIirty (30) daya tttezeaftez n.n;1 be tzeated aeeosdinq ; ;�,'�+,T�i,��'�,-�:-':,;:
<br /> �.S�'�.�....,a�.}��
<br />• „� te Lh� 1at�r��L and liea psovisionn deraatter. : � } � � � ,�
<br /> `:''� Seetiea 6. EsCYOr o2 Itaaeaa�eato. � j�
<br /> a eat
<br /> � � �.� +S .
<br /> ��+ � TIIe tldaiaisLra!r..ss of the AswciaCion may arsaage to hnoe all assene.aaab in�x=tvaa 6 or Seatioa S oE Asticle t�paid r y�fyyI;F . 5�,! `
<br /> . '; to an esarw innd to ba hald and maaaged by n haak oz aaviaqs and loan aancciz'a�a. ,��t�d '. .. .. . _
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<br /> .�� Sectioa 7. De=sonal Jlaaesexent Li�bilitY. r•:' :'�'w '4: f.�+
<br /> : ir�S' : - � i�,' .. .
<br /> � 39::� . _
<br /> � 8ach nnit waes or, i!more tsan one, aimere� joiatly aad severaLly, ehall ba pan+onally liable !oz Lhe pagmeat oE ' -;� = -
<br /> us�ss�at� nndsr tbe prcceding sections. Upoa the espisatioa o!thirtp (30) days fza�t9m rae date o! au usea�nt, ii �aid ;�!�," ';;' ;r;
<br /> �� aas��sunt ras�in� napaid� th�7usaaiatl.on may brinq snit aqaiaat ih� ora�r or o�mess ef �d uait for secovory ot tho aemo. '.t�',i- . ��, ,_�•
<br /> • I! t6o aa�eaomont io a cwatLlq inntallaeat oi an nannal neaonwneat, the delanit in papmeat ai one insteliment vhea dne, may, at v t
<br /> ' th�option oE Lh�J►�soaiatioa, cana�tb� ramaiadnr of!he iaaiollraenta dae for tDnt aannal geriad to hoc�e i�mdiately dv�nnd
<br /> papabl�. TEs d�taultiag anit omsr�hall bs linb2��os the nnpaid aseessmeat or uae��meaLe, iwearsst�Tay-eon lra�the dn�date �.����:3y,;-
<br /> - to Lhe dat�paid at t6s ysiqh�si leqal nte,aad a-_acsy lees aasl e:pea�e�iacnrrad ia ths colleatina eP�seme. Ho pzocaadiag ,.ii Xk':
<br /> eo rnll�ct Eeiaultad aoseasmeai�pnrauaat to thia Txaction shall eonstitate a vaiver oi Lhu liea o!thn aasaaiatlon agaiast said ;;�'�;�c�;3
<br /> _ d�YaulLirtq aants�� aniL cor a vaivar o! the riqLt o!LEe Aaaeeiatiaa te iozealose tTtezeoa. :+!1-
<br /> 7t�F"'�,
<br /> 4A� qraates oi a nait �Lall bs jointly aad �werallq li�ble vitb the qrnntor !ar dl napaid a�se��meaLS againeL tne •.U^ `!�! •
<br /> lsttes ap to the Lims o!4h�graator eoav�yaaas,vithoat pr�jadice to Lks egant��•� rigLt to r�eav�r frm tlt�grarttor th�amonnt� 'r�''�,
<br /> � paid Dy tL� graates therefor, yravided, Lorever, that npon p�yaeat o! a reaeonabls Les aad npoa rri2ten zeqnnt, aaq such •� -
<br /> yro�p�ativ� grantee�Aali bs eatitlad to a suieeent lrar eIle eoud oi l�ini�traton, or th�Nauag�r, in th� loss��t fostb io �i�
<br /> �'t ' eeatioa 9 ot 71rtic1�V, rIIioh sE�ll bs aonalasive apon tpe JUsoaiation ia lswr o! all y�rson� rslyiag thereon ia qood laith. °''
<br />' - t, Qnl�ss �nob spaut Yor a statea�nt ot iad�bt�dn�s� �h�11 b�capliad vit�vithin fitt��a �1S) day�01 snaD r�qu��t, th�n�noA �_;_
<br /> , .• gr�nN��Lall not be li�bl�ior,nos�hall tb�coaQmialaa nait conv�yed be�nb�eat to�lten tor aay oapaid a�se��meats aeasuing _— _ _
<br /> a pzios to ths data oL �acb zegoed. : :`a"���
<br /> '� ' " '+�' . : -
<br /> ••'Y:.'., .
<br /> �• ��•l�ion��et lortd in tDi� Beation sAall aot apply to Lhe iaiLial��le�and eo�syane�s oi th�eandaminina uaits F. , _
<br /> bg oy�r, aad sneL�alea�hall be tree from�il ueesment� to ths date o! co�eyaacs. �'��� = � _
<br /> ` �•,
<br /> 8eation 8. IIs�n�nt Lten. - :�:rr-..
<br /> IL aa nalE wner�hall lail or sefa�e to make aa at o!w u���ss�nt vhan dn��tAe aaonnt t5araof�Aall con�titnL� «4f'
<br /> Y Y W9IDe �;�m•>,•:_
<br /> � a li�a an th� iat�r��t ot ths aait a+mer ia�i�uAit aad tA�A�inistr�tor�ta�r�eord�nah li�n ia th�oiHe�oi th�iUgist�r
<br /> 01 Deed�ot 8a11 Coawt , Bebsaska) vheteapon, eaid lien sAall bs ysivileged wez and prioz to all 1len� aad aacix�braaca�e:eept . - - .�_,'--�;�=
<br /> � a�w�sa�at�� li�n� aa�charq�� for tuco� pa�L du� �ad uapald oa tlte uait �nd nc�yt pzior duly zecozd�d morCgag� aad li�n � •�^' ��'. .
<br /> ' instsfu�nt�. lu��rr�ent�d�linpuent wre ttan thirtp (30�days atter the da�deL� �hali bsu iatere�t at LM Aighnt 1�q�1 raL� ��ir,
<br /> . lra�LL�Qa�dat�natil paid. Th�dslinqu�nay o!on�ia�talla�nt o!aa aaaaal a�s�s�asnt shall aan���11 r��+�i*g in�tallmsats, �+•�' )E+.<''• . �:
<br /> , at th� ogtion o!tA�At�oaiation, Lo i��diat�ly bec��du�and payabl�. T6�Hoard ot tldaiaistrator� �Lall have tha riqLt and ',a..�y -:-
<br /> Eaty to�tteapt to recwer�ucn c�on chuge�, togetLsr vitb int�re�t th�rwn, and tbe e:pens�� ot the pzao��ding� inoluding
<br /> attorn�y l���, in aa aetion to rscwes th� same braaqht aq�in�t snaA anit wn�r� or by lor�olosur� o! t6s li�a on snch anit � '����1 �
<br /> gzaat�d bq eaation 76-II74 0! the Condamini�Aat. Ia anq aotion bswgDt by th�Board o! It�inistrator�to loreclose a lien on ;�, ' ^+s.�a�:"�:
<br /> a nait Leuus�o! nriyaid auee�sent�,the uait avner ssall be sequired to paq e raa�onab;.m s�atal for t6�nu oY hi� oait� and �;; ����;
<br /> ths piaintitl ia�neh lozaaloenre action sh�ll be entitled to ihe aypointm�nt ot a soceives to colleoL the�ame. Tbe Bo�sd o! s� t��,,:� _
<br /> ll�ninistrator�, aaLiag en WMlf e! �11 nnit wn�r�, shall Gavm yor�r to pnratuw wah nait nt Lh� loaolo�nr� �a2e, and to •. ��,� . }jxy�, . "`
<br /> ncgoirA, L�2d, lea�e, nortgage, vote the vote� appnrtenant, to co�rosy or oth�svi�e deal vitn the �ams. A wit to rmewss • iu_ �f--`-'=---'--
<br /> • aon�y�u9�nt!or uapaid u�asaneaL�shall b�mainLainabla vitLout forealosinq or v�iving the lisn securing the �am�. •'•j���p:�=��•'*�
<br /> . .asa�".T-°
<br /> Seation 9. STatemer.� 04 Dnpaid Aseeese�ente.
<br /> s
<br /> t�::
<br /> Lpoa LAe vrittoa reqneet o! u�y wner� yroapeotive pnreIlaeer or o! any mortqagee o! e eondaminlam anit, the Soud o! ����"
<br />: ; ]4�i.nistzator�or tA�aatuqing agent,�hall iosue a orritten stats�ont a�tting 4arth the asnnat of the unpaid a�seeaaeate, i!any, , T„�;" ,�,j,,.r,
<br /> ,.�``,s�;:'
<br /> vitb recgecE to tM �uL��a! unii� tAs amonnt o! the cuaent peziodia as�e�ezeni and tho taie Lh�t euah ae�ee�ment baceao due� r�`��
<br /> { �ny yenalti�s dn�, aad esedit ior a3aanc�yaymeat�or!os yr�yaid iteai,rhieL�tatemeat mhn12 b�conaln�iv�uyoa th�AaeaalaLion , ttA�' +�
<br /> in lavot o! sll renr.� vt�o rel thazeon in qood 4aith. ea
<br /> Pe Y l'•,,if•Yk'�
<br /> .i�::' -
<br /> IIection 10. Ronaraivoz. ' '�%,..... •+ , -
<br /> ,.:��H,K4.y;a 4. .
<br /> TL� ami��io�oz failurs to tisely !ix any aaaettment� or deliver oz cs�il a et�t�ent for any goriod ehail a�t be deemed :, � .�.•,.�-
<br /> � e�raivez, modificsLion or e zelesee of the anere lram thelr obliqation to gsy the eeaie. � '�`•• ••Y°
<br />. ..,.j,•:��: .
<br /> AATICLB 9I. 2ffSOk11l7CS • .'f;. .�t-i°�,;a•�,
<br /> ;�'i�� ,
<br /> • . .�ii: .
<br /> Beation l. Cweraas. • � .
<br /> 2he Bo�rd of Efininietratoz� ehell obtein an9 meintnin,to the enteat ob2ainable, the follo+dnq iasurance� Pize iaeurenee ' . • ..���:r•
<br /> vitD eutsadsd eovesaye, vaadali�m aad mslieioo� mleahiet endoreemenLS, incuring tAo entire eondaml.nium bvildinq (bat nat . • -
<br /> ' inolading furniture, decorntione,orneconto, inrniohing0 os other psroottal yroyerty amed by Eho individual unit oanere) together � ,
<br /> aHth all�esvice equipoent coatalned ihesein in an acaunt egual to the tull reDlaeaaent volue�withont deduction or deprocietion, ' . _
<br /> and vhiah�hall eoaLaia a etar�GarA aoaconiribntozp eortqaqe olaase in favor o! eaoh sortgagao of a condamini�unit mbich ehall ' —
<br /> pronfde that Lhe lo��, 1!enq, hezonn_er erell De pnyable to eucA mortqngee a� ita intereet may appaar� enb�ect� Am►ever, ee tAe .,.�},��� • , �
<br /> loae psymeM provi�ione in laver oY tke Board o!Adminietretore hereinatter eet iorth!a Soriion 1 0!Astiele It j ���ia liabilitq .;„ri+'•
<br /> insnzancs in eueb limite ae the Doazd oE 7ldaini�tsator�may!r� time ie time deLer.�ine, cweriag the 11n�eeiatlen, eneA meaber
<br /> o! !Ae Sonrd, tho maaaging nqent, agente ead eaployeee ot tAe 1►eeooietion and enc� nnit oaner� and euoh addiLionel eweraqe ee � '
<br /> tho Board lldministratore aay frm tiao to tisie detezmine io eppropriete. SueE pnblie liability eaveraqe ehell aleo caver croae • .
<br /> liabilltp alaime of ane ineured aqainet the other. ' �
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