7005 YEW ST 2016-01-01 MF Import

6:4 �'RPr�A� Asaessments for Capitai zmvrovemencas Upon vote of the members of the Association in the manner hereinafter set forth, the Association may levy in addition to annual asaessmenta a apecial assessment in any calendar year applicable to that year only, for the purpose of defraying in whole or in paF,t the cost of construction or reconstruct=on or expected repair or replacement of a described capit�l improve- ment upon the Common Properties, including necessary fixtures and peraonal propecty related thereto. The assessment ratio for any etcucture as determined pursuant to Sect:on 6.3 shall be applicable to apecial assess�erats. 6.5 vnf 9 and NoticeE� or Special Aasessment and �anae"of Maximum Assessment: Any special assesament or change in maximum annual aesessment must have the assent of two-thirds (2/3) of the votea of inembers at a meeting duly called for that purpose and said assessment must be subsequently approved by the Board of Directora. Wcitten notice of such meeting called for such purposes shall be sent to all members at least thirty (30) days in advance of the date of such meeting, setting forth the purpose of the meeting. 6.6 Date of commencement of ILnnual Assessment: The initial annual assessments shall commence on the first day of auch month aa determined by the Board of Directors of the Association, and shall.be due and uayable on the date fixed by the Board. Annual asseasments for any year after the firat year ahall become due and payable on the date indicated on the Notice of Aassesement. The amount of the initial annual assessment for the firat year in which assessments are made or for any property which.becomea subject to assessment foc the first time shall be pro-rated on a calendar year basis a.ccording to the date of the firat aesesament or the date on wh!ch property first became eubject to assesament. � The due date of any special assessment shall be fixed in the Resolation authorizing such asseasment. 6.7 D+ y of eoar9 of Directors: The Soard of Directora shall fix the amount of the annual assessment againet each building site and give the owner subject thereto written notice of auch assesament at least thiity (30) days in advance of the due date of such asaessment. The Board ahall cause to be 'prepaced a roeter of the properties subject to assessmente with assesamente applicable to each such property and ehall keep such roater in the Association office, aubject to inspec- tion by any owner. The Aasociation shall, upon demand, at any time furniah to any owner liable for an assessment a certificate in writing setting•forth whether the assessments on the property owned by such ownec have been paid. 6.8 " The Effect of Nonp�vment of Assessments•�,iQn of Association: If an aesessment is not paid on the due date hereinabove set� forth, thicty (30) days thereafter suah aesessment shall become i3elinquent. If delinquency occurs, an additional one-twelfth �(1/12) of such assessment shall be levied as penalty for. each month, or po�tlo;i thereof, ao delinquent. The Seccetary of the Association shall file in the Office of the County Auditor in which the property is located, within ninety (90) days aftet such delinquency, a statement of - 5 -