Common use of Koa Ridge Covenants Clause in Contracts

Koa Ridge Covenants. Buyer acknowledges that the Declaration provides that all present and future unit owners, tenants and occupants of units in the Project are subject to the Koa Ridge Covenants, a copy of which has been received by Buyer. The Koa Ridge Covenants provide, among other things, that the Association (a) shall be deemed the “Parcel Owner” for the Project for all purposes under the Koa Ridge Covenants, (b) shall be the member of the Koa Ridge Owners Association with respect to the Project, and (c) shall exercise the voting rights attributable to the units in the Project, voting as a block. Assessments pursuant to the Koa Ridge Covenants shall be levied against the unit owners. Each unit owner’s obligation to pay assessments shall constitute a lien against its unit. The assessments by the Koa Ridge Owners Association shall include Base Assessments, and also may include Special Benefited Area Assessments, Special Assessments and Specific Assessments, as described in the Koa Ridge Covenants. The Koa Ridge Owners Association also may charge use or consumption fees. Unless billed directly to and collected from the unit owners by the Koa Ridge Owners Association, payment of Buyer’s share of the Koa Ridge Owners Association assessments shall be made to the Association for remittance to the Koa Ridge Owners Association. Buyer may be required to obtain the consent of the Koa Ridge Owners Association before making alterations to the Unit or the limited common elements appurtenant to the Unit, as set forth in the Koa Ridge Covenants.

Koa Ridge Covenants. Buyer Xxxxx acknowledges that the Declaration provides that all present and future unit owners, tenants and occupants of units in the Project are subject to the Koa Ridge Covenants, a copy of which has been received by Buyer. The Koa Ridge Covenants provide, among other things, that the Association (a) shall be deemed the “Parcel Owner” for the Project for all purposes under the Koa Ridge Covenants, (b) shall be the member of the Koa Ridge Owners Association with respect to the Project, and (c) shall exercise the voting rights attributable to the units in the Project, voting as a block. Assessments pursuant to the Koa Ridge Covenants shall be levied against the unit owners. Each unit owner’s obligation to pay assessments shall constitute a lien against its unit. The assessments by the Koa Ridge Owners Association shall include Base Assessments, and also may include Special Benefited Area Assessments, Special Assessments and Specific Assessments, as described in the Koa Ridge Covenants. The Koa Ridge Owners Association also may charge use or consumption fees. Unless billed directly to and collected from the unit owners by the Koa Ridge Owners Association, payment of Buyer’s share of the Koa Ridge Owners Association assessments shall be made to the Association for remittance to the Koa Ridge Owners Association. Buyer may be required to obtain the consent of the Koa Ridge Owners Association before making alterations to the Unit or the limited common elements appurtenant to the Unit, as set forth in the Koa Ridge Covenants.