Units Not Assessable Clause Samples
The "Units Not Assessable" clause establishes that certain units within a property or development are exempt from being assessed for specific fees, taxes, or charges. In practice, this means that these designated units will not be included when calculating assessments for maintenance costs, association dues, or other shared expenses. For example, common areas or units owned by the developer may be excluded from such assessments. The core function of this clause is to clearly define which units are not financially responsible for certain obligations, thereby ensuring fairness and preventing disputes over assessment allocations.
Units Not Assessable. Units shall not be assessable, and the Limited Partners shall not be required to make any additional Capital Contribution.
Units Not Assessable. Units shall not be assessable, and no Limited Partner agrees to make any additional Capital Contribution. Capital Contributions made after the Closing shall be made as provided in Article 8.
