MONTHLY CARRYING CHARGES. Commencing at the time indicated in Article 2 hereof, Member agrees to pay Corporation a monthly sum, referred to herein as Carrying Charge, equal to one-twelfth (1/12) of Member’s proportionate share of the sums required by the Corporation, as estimated from time to time by its Board of Directors in accordance with the Corporation’s Bylaws, to meet its annual expenses, which expenses include but are not necessarily limited to the following items:
MONTHLY CARRYING CHARGES. Commencing on the date of this Agreement and on the first day of each month thereafter, the Member agrees to pay to the Corporation, in advance, a sum equal to one- twelfth (1/12th) of the Member’s proportionate share of the sum required by the Corporation, as determined by its Board of Directors, to meet the Corporation’s annual operating expenses (the “Carrying Charge”), including appropriate reserves, including but not limited to the following items:
MONTHLY CARRYING CHARGES. Commencing as indicated below, the Stockholder agrees to pay to the Mutual a monthly sum (Carrying Charges) equal to one- twelfth of the Stockholder 's proportionate share of the sum required by the Mutual, as estimated by its board of directors, to meet its annual expenses, including but not limited to the following items:
MONTHLY CARRYING CHARGES. The Resident agrees to pay monthly to the Landlord the carrying charges (that is, the basic rent) which initially are $ per month. The Resident agrees to pay this amount by the first day of each month, in advance, by sending a check or money order to the Landlord at x/x Xxxxxxx Xxxxxxxx Xxxxxxxxxxx, 00 Xxxxxxxx Xx., Xxxxxx XX 00000. The check or money order should be made out to “Belmont Xxxxxxxx Cooperative”. The Landlord may change the place for payment by notice to Resident. Each resident pays a proportionate share of the Building's expenses and other financial obligations as determined by the Board of Directors. The proportion of expenses paid by each resident is determined by the size of the Apartment leased by each resident. Initial allocation of Monthly Carrying Charges are roughly proportionate to the numbers of shares of stock appurtenant to different Apartment sizes, but this maybe changed if the Board of Directors determines that a different allocation basis would be more appropriate. Some examples of the Building's expenses are: mortgage principal and interest; taxes and insurance; repairs and maintenance; water and sewer charges; management, administrative and all other operating expenses; payments to the Landlord’s partners; and general operating and replacement reserves. The amount each resident pays per month is called the Monthly Carrying Charge. It is specifically understood that the Landlord, acting through the Board of Directors, has the power to determine the amount of the Monthly Carrying Charge. The Landlord has the power to increase the amount whenever it is necessary to do so to cover the expenses of the Building. The Landlord agrees to give the resident at least one (1) month written notice before implementing any increase.
MONTHLY CARRYING CHARGES. The Member agrees to pay to the Co-op a monthly sum referred to herein as "Carrying Charges", equal to the amount established by the Co-op, on an annual basis (as estimated and established at the sole discretion of its Board of Directors) to be necessary to meet its annual expenses, including but not limited to the following items:
MONTHLY CARRYING CHARGES. 1. By signing this Occupancy Agreement, the Member agrees to pay the Coop monthly “Carrying Charges,” which are equal to one-twelfth of the Member’s proportionate share of the amount required by the Coop, estimated by the Board to meet its annual expenses, including but not limited to the following items:
MONTHLY CARRYING CHARGES. Commencing at the time indicated in ARTICLE 2 hereof, Shareholder agrees to pay to Corporation a monthly sum referred to herein as “Carrying Charges,” equal to one-twelfth of Shareholder’s proportionate share of the sum required by Corporation, as estimated by its Board of Directors, to meet its annual expenses, including but not limited to the following items: The cost of all operating expenses of the apartment building and services furnished. The cost of necessary management and administration. The amount of all taxes and assessments levied against the apartment building of Corporation or which it is required to pay. The cost of Fire and extended coverage insurance on the apartment building, and such other insurance as Corporation may effect or as may be required by any mortgage of the apartment building. The cost of furnishing water, electricity, heat, gas, garbage and trash collection, and other utilities, if furnished by the Corporation. All reserves set up by the Board of Directors. The estimated cost of repairs, maintenance and replacements of the apartment building to be made by Corporation. Any other expenses of Corporation approved by the Board of Directors, including operating deficiencies, if any for prior periods. The Board of Directors shall determine the amount of the Carrying Charges annually, but may do so at more frequent intervals, should circumstances so require. No Shareholder shall be charged with more than his proportionate share thereof as determined by the Board of Directors. That amount of the Carrying Charges required for payment on the principal of the mortgage of the Corporation or any other capital expenditures shall be credited upon the books of the Corporation to the “Paid-in Surplus” account as a capital contribution by the Shareholders.
