Special Assessments for Capital Improvements. In addition to the annual assessment authorized above, the Association may levy in any calendar year, a special assessment applicable to that year only for the purpose of defraying in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Area, including fixtures and personal property related thereto, provided that any such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Board may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Area for which the reserve account is inapplicable or inadequate, provided that any such assessment has the assent of 67 percent of the votes at a Legal Meeting.
Special Assessments for Capital Improvements. (i) In addition to the annual operating assessments, the Association may levy, in any fiscal year, special assessments to construct, reconstruct or replace capital improvements on or constituting a part of the Common Areas and/or personal property to the extent that reserves therefor are insufficient, provided that new capital improvements not replacing existing improvements shall not be constructed nor funds assessed therefor, if the cost thereof in any fiscal year would exceed an amount equal to five percent (5%) of that fiscal year’s budget, without the prior consent of Lot Owners exercising no less than seventy-five percent (75%) of the voting power of Lot Owners.
Special Assessments for Capital Improvements. In addition to the annual assessments, authorized assessments applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the Property or Common Elements, including the necessary fixtures and personal property related thereto, may be authorized by a vote of the Council of Co-owners, provided (1) written notice of the proposed special assessment be included in the notice of any meeting at which the proposed special assessment is to be considered, (2) a quorum of Co-owners is present at the meeting in person or by proxy when the presiding officer calls for a vote on the matter, and (3) the proposed special assessment has the approval of a majority of the votes of those Co-owners present in person or by proxy when the voting takes place.
Special Assessments for Capital Improvements. In addition to the annual assessments, authorized assessments applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the Property or Common Elements, including the necessary fixtures and personal property related thereto, provided that any such assessment must be approved by a majority of the votes of the Council of Co-Owners. Master Deed, Certificate, Charter, By-Laws, Insurance Trust are recorded in Deed Book D555, pages830-908 All except the Certificate of Incorporation were dated October 22, 1980. The Certificate of Incorporation was dated September 5, 1980. Master Deed Exhibit 1 Description of Property D555PAGE830 - D555PAGE846 D555PAGE847 Exhibits 2 – Exhibit 37 Xxxxx Xxxxxx & Xxx AIA D555PAGE848 - D555PAGE883 Exhibit 38 Certificate of Incorporation D555PAGE884 Charter (Articles of Incorporation) D555PAGE885 - D555PAGE890 Exhibit 39 By-Laws D555PAGE891 - D555PAGE901 Exhibit 40 Insurance Trust Agreement D555PAGE902 - D555PAGE908 Amendments 1-4 Recorded October 29, 1980 through October 1, 2012 with the RMC / ROD Amendments 5-11 Recorded April 25, 2018 with the ROD Amendment 1 dated October 29, 1980 D556PAGE501- D556PAGE530 Amendment added Exhibits 41-49 D556PAGE501 - D556PAGE502 Description of Property D556PAGE503 Exhibits 41 – 49 Xxxxx Xxxxxx & Xxx AIA D556PAGE504 - D556PAGE530 Amendment 2 dated July 10, 1984 D706PAGE970 - D706PAGE972 Amended Master Deed, 18. Amendments D555PAGE843 Amended By-Laws, ARTICLE IX, Assessments, Section 4, Special Assessments for Capital Improvements D555PAGE899 Amendment 3 dated April 30, 1985 D746PAGE142 - D746PAGE144 Amended Charter, ARTICLE III – POWERS Paragraph 2(f) D555PAGE886 Amended By-Laws, ARTICLE IX, Assessment,
Special Assessments for Capital Improvements. (1) In addition to the annual operating assessments, the Board my levy, in any fiscal year, special assessments to construct, reconstruct or replace capital improvements within the Common Area to the extent that reserves therefore are insufficient, provided that new capital improvements not replacing or repairing existing improvements which cost over $2,500 shall not be constructed nor funds assessed therefore without the prior written consent of a majority of the Members. Capital improvements less than $2,500 shall be within the authority of the Board. Failure to pay any installment when due shall result in a surcharge of 25 percent of the installment so due and shall be re-levied on each anniversary date until paid.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy, in any assessment year, a special assessment to pay in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Areas, including fixtures and personal property related thereto, road surfacing, and any common area improvements including but not limited to the creation of tennis courts and barbeque shelter previously approved by Xxxxxx County planning commission, provided that any such assessment shall have the assent of two-thirds (2/3) of the votes of each class of the Association members who are voting in person or by proxy at a meeting duly called for this purpose.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy against each owner, in any assessment year, a special assessment, applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of any improvement in or upon the Common Area(s) including Open Space Area(s) and other areas under the control of the Association, including without limiting the generality thereof, subdivision entrances, retention ponds, retention, detention areas, the Transitional Area, and Transitional Area, provided that such assessment shall have the assent of two thirds (2/3rds) of the votes of Owners who are then entitled to vote, voting in person or by proxy at a meeting duly called for that purpose.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy in any assessment year, a special assessment applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the Common Area, including the necessary fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3) of the votes of the members who are voting in person or in proxy at a meeting duly called for this purpose, written notice of which shall be sent to all members not less than ten days nor more than fifty days in advance of the meeting, setting forth the purpose of the meeting.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy, in any calendar year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair, or replacement of a capital improvement in the Subdivision. provided that any such assessment shall have the assent to two‐thirds (2/3) of the votes of each class of Owners who are voting in person or by proxy at a meeting duly called for this purpose at which a quorum is present. No Owner may waive or otherwise escape liability for the assessments provided for herein by abandonment of his lot or otherwise.
