2021-03-24 CC Packet - Laserfiche WebLink

Home Browse Search

There shall be no limitation on the right of the Board to subsequently increase the amount of the annual assessment. a. Until a Common Expense assessment is levied, Declarant shall pay all accrued expenses of the Association. b. After a Common Expense assessment is levied, the assessment may be increased by the Board annually. 6.3 Special Assessments. In addition to annual assessments, the Board may levy in any assessment year a special assessment against all Units for the purpose of defraying in whole or in part (i) the cost of any unforeseen or unbudgeted Common Expense, (ii) general or specific reserves for maintenance, repair or replacement, and (iii) the maintenance, repair or replacement of any part of the Property, and any fixtures or other property related thereto. 6.4 Liability of Owners for Assessments. The obligation of an Owner to pay assessments shall commence at the later of (i) the time at which the Owner acquires title to the Unit, or (ii) the due date of the first Assessment levied by the Board; provided, that neither Declarant nor a Homebuilder, nor any Unit owned by such party, shall be liable for any Assessment, nor subject to any Assessment lien, for any period, as long as there is no one residing in the Dwelling located on the Unit. Subject to the foregoing exemption, the Owner at the time an assessment is payable with respect to the Unit shall be personally liable for the share of the Common Expenses assessed against such Unit. Such liability shall be joint and several where there are multiple Owners of the Unit. The liability is absolute and unconditional. No Owner is exempt from liability for payment of his or her share of Common Expenses by right of set-off, by waiver of use or enjoyment of any part of the Property, by absence from or abandonment of the Unit, by the waiver of any other rights, or by reason of any claim against the Association or its officers, directors or agents, or for their failure to fulfill any duties under the Governing Documents. The Association may invoke the charges, sanctions and remedies set forth in Section 13, in addition to any remedies provided elsewhere in the Governing Documents or by law, for the purpose of enforcing its rights hereunder. 6.5 Assessment Lien. The Association has a lien on a Unit for any assessment levied against that Unit from the time the assessment becomes due. If an assessment is payable in installments, the full amount of the assessment is a lien from the time the first installment thereof becomes due. Fees, charges, late charges, fines and interest charges imposed by the Association are also liens, and are enforceable as assessments, under this Section. Recording of the Declaration constitutes record _____ 13 022818