Common use of Additional Assessments Clause in Contracts

Additional Assessments. Additional special assessments may be levied against all properties within the Corporation to generate funds necessary to pay for capital improvements, repairs, or for any other purpose deemed necessary by obtaining a two-thirds majority vote of the Members of the Corporation present during a regular or special meeting, or voting by proxy, provided a quorum is established. An affirmative vote may be established during a regular or special duly noticed meeting, or by affirmative response to a written notice provided to each Corporation member.