Association Expenses means expenses incurred by a common interest association for:
Association Expenses means and include the actual and estimated expenses of operating the Association, both for general and Parcel purposes, including any reasonable reserve, all as may be found to be necessary and appropriate by the Board pursuant to the Declaration, the By-Laws, and the Articles of Incorporation.
Association Expenses is defined in Section 6.02(a);
Examples of Association Expenses in a sentence
Upon the consummation of any such sale, the Association shall disburse to each Owner a portion of the Proceeds thereof equal to each Owner`s One Share of Association Expenses, provided that on or before any disbursement to each such Owner, that Owner must pay all of his/her debts accrued and owing to the Association.
If for any reason the Association does not have enough money to pay all Association Expenses on a current basis, the Property Manager must prepare a revised Budget.
The Association, the Board, and the Property Manager act as agent for the Owners, and do not have any personal liability for Association Expenses or Personal Charges.
Surplus funds left over at the end of any year must be used at the discretion of the Board to pay Association Expenses in the next year and/or be transferred into the Capital Reserve Fund(s) and/or the Operational Reserve Fund(s).
All funds received must be used only to pay Association Expenses.
More Definitions of Association Expenses
Association Expenses includes all costs of owning, operating and administering the Association. It also includes all charges imposed on the Property. It does not matter who is billed for them. For example, even if the Association or the Property Manager is billed, the charge is still an Association Expense and is to be shared among all Owners.
(i) property and other governmental taxes and charges;
(ii) utilities (electricity, water, sewer, and so on including any amortized or commuted charges);
(iii) insurance;
(iv) liabilities and damages;
(v) Personal Charges that the Board decides cannot be collected;
(vi) management costs;
(vii) maid service;
(viii) all other costs incurred except for Personal Charges; and
(ix) office and administration expenses.
(x) any shortfall for any reason in funds to pay costs on a current basis; and
(xi) the Capital Reserve Account.
Association Expenses means expenditures made by or on behalf of the Association for professional services rendered by accountants, attorneys, consultants and any manager engaged by the Association who performs any services other than those required to be performed by Innisfree under this Agreement;
Association Expenses means all expenses incurred by the Association in connection with the management and administration of the Community. By way of illustration and not as a limitation, the Association Expenses shall include:
Association Expenses means and include the actual and estimated expenses of operating the Association and the Property Owners Association (hereinafter defined), including any reasonable reserve, all as may be found to be necessary and appropriate by the Board and by the Property Owners Association, where appropriate, pursuant to the Homeowners Documents (hereinafter defined).
Association Expenses includes all costs of owning, operating and administering the Association. It also includes all charges imposed on the Property. It does not matter who is billed for them. For example, even if the Association or the Property Manager is billed, the charge is still an Association Expense and is to be shared among all Owners. Association Expenses include: (i) property and other governmental taxes and charges; (ii) utilities (electricity, water, sewer, and so on including any amortized or commuted charges); (iii) insurance; (iv) liabilities and damages; (v) Personal Charges that the Board decides cannot be collected; (vi) management costs; (vii) maid service; (viii) all other costs incurred except for Personal Charges; and (ix) office and administration expenses. Association Expenses must also include the following amounts to provide for these contingencies and reserve: (x) any shortfall for any reason in funds to pay costs on a current basis; and (xi) the Capital Reserve Account. (b) “One Share” means 1/60th for each Interval (subject to reduction of the denominator by 10 for each Cottage less than six (6) Cottages that will comprise the Property. By way of example, the denominator will be reduced by 20 if only four (4) Cottages form part of the Property). (c) “Annual Fee” is the regular charge for each Interval. It will be for One Share of Association Expenses, as estimated in the Budget, plus late charges and interest if the Annual Fee is not paid when due, and all costs of collecting unpaid Annual Fees which include but are not limited to court costs and legal fees. (d) A “Special Charge” is an added charge as needed for each Interval. It will be for One Share of the amount of money needed to keep paying Association Expenses on a current basis, as estimated in a Supplemental Budget, plus late charges and interest if a Special Charge is not paid when due, and all collection costs on unpaid Special Charges. (e) “Personal Charges” means all expenses that result from the act or the failure to act of any Owner, Exchange User, or Occupant (except failure to pay any Annual Fees or Special Charge). Among other things, they include all: (i) extra services requested by an Owner, Exchange User or Occupant, including maid service and long distance telephone charges; (ii) late charges and interest on unpaid Personal Charges; (iii) collection costs on unpaid Personal Charges and costs of enforcing this Agreement and the Rules, including fines, court costs and legal fees...
Association Expenses means all expenses incurred by the Association in the performance of its obligations or the exercise of its powers pursuant to this Declaration, the Articles of Incorporation, or the Bylaws.
Association Expenses includes all costs of owning, operating and administering the Association. It also includes all charges imposed on the Property. It does not matter who is billed for them. For example, even if the Association or the Property Manager is billed, the charge is still an Association Expense and is to be shared among all Owners.
(i) property and other governmental taxes and charges;
(ii) utilities (electricity, water, sewer, and so on including any amortized or commuted charges);
(iii) insurance;
(iv) liabilities and damages;
(v) Personal Charges that the Board decides cannot be collected; Budget, plus late charges and interest if the Annual Fee is not paid when due, and all costs of collecting unpaid Annual Fees which include but are not limited to court costs and legal fees.