Common use of Partial Year or Month Clause in Contracts

Partial Year or Month. For the first fiscal year and thereafter until the First Board is elected, the annual budget shall be approved by the Board as appointed by the Developer. If such first fiscal year, or any succeeding fiscal year, shall be less than a full year, then the monthly assessments for each Unit Owner shall be proportionate to the number of months and days in such period covered by such budget. Each Unit Owner shall pay such Owner’s assessment for the following month or fraction of a month, which assessment shall be in proportion to the Owner’s respective ownership interest in the Common Elements and the number of months and days remaining of the period covered by the current annual budget, and which assessment shall be computed by the Board.

Partial Year or Month. For the first fiscal year and thereafter until the First Board is electedyear, the annual budget shall be as approved by the Board as appointed by the DeveloperFirst Board. If such first fiscal year, or any succeeding fiscal year, shall be less than a full year, then the monthly assessments for each Unit Owner shall be he proportionate to the number of months and days in such period covered by such budget. Each Commencing with the date of occupancy of his Unit, each Unit Owner Owner, shall pay such Owner’s his assessment for the following month or fraction of a month, which assessment shall be in proportion to the Owner’s his respective ownership interest in the Common Elements and the number of months and days remaining of the period covered by the current annual budget, and which assessment shall be as computed by the Board.

Partial Year or Month. For the first fiscal year and thereafter until the First Board is electedyear, the annual budget shall be as approved by the Board as appointed by the DeveloperFirst Board. If such first fiscal year, or any succeeding fiscal year, shall be less than a full year, year then the monthly assessments for each Unit Owner shall be proportionate to the number of months and days in such period covered by such budget. Each Commencing with the date of occupancy of his Unit, each Unit Owner shall pay such Owner’s his assessment for the following month or fraction of a month, which assessment shall be in proportion to the Owner’s his respective ownership interest in the Common Elements and the number of months and days remaining of the period covered by the current annual budget, and which assessment shall be computed by the Board.