Common use of REIMBURSEMENT ASSESSMENTS Clause in Contracts

REIMBURSEMENT ASSESSMENTS. The Association may also impose a Reimbursement Assessment against any Owner to reimburse the Association for costs incurred in bringing the Owner and the Owner's Parcel into compliance with the provisions of this Declaration, the Articles, the Bylaws and the rules and regulations of the Association, which assessment may be imposed upon the vote of the Board after notice and an opportunity for a hearing which satisfy the requirements of Section 7341 of the California CORPORATIONS CODE, as set forth in the Bylaws; PROVIDED, HOWEVER, except to the extent such Reimbursement Assessment is to reimburse the Association for the cost of (i) repairing damage to Common Areas for which the Owner or its Occupants, guests or invitees are responsible, or (ii) collecting assessments, any Reimbursement Assessment shall not constitute a lien on the Owner's Parcel.

Appears in 5 contracts

Samples: Office Lease (Peregrine Systems Inc), Lease Option Agreement (Peregrine Systems Inc), Office Lease (Peregrine Systems Inc)

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