Common use of Assessment of Annual Dues Clause in Contracts

Assessment of Annual Dues. All Members of the Corporation as described in Article II Sections 2.1, 2.2, 2.3, and Addendum A shall be assessed Annual dues. All Corporation dues shall be based upon tax identification numbers as maintained by Xxxxxx Township. If a Member owns multiple lots with multiple tax identification numbers they shall receive a billing for each lot owned. The Board of Directors shall declare that a Member is not a Member in good standing because of past unpaid dues, fines, late charges, interest, legal fees and/or any other Corporation assessment(s) and a Member’s benefits and privileges, other than the right to vote, may be suspended until such past unpaid amounts are paid in full. Annual dues shall be utilized by the Corporation for the repair and maintenance of the roads, parks, drains, sanitation, common areas, Community Property, and other property of the Corporation, as well as other special needs of the Corporation as determined by the Board.