Limited Common Expenses definition

Limited Common Expenses means (a) the Common Expenses associated with the maintenance, repair or replacement of a Limited Common Element or which shall be assessed against the Units to which that Limited Common Element is assigned in proportion to the relative Common Expense Liabilities of such Units as between themselves, as the Executive Board may periodically determine, and (b) the Common Expenses for services benefiting fewer than all the Units, which are assessed exclusively against the Units benefited in accordance with the use of such services as permitted by Section 1603-115(c) of the Condominium Act.

Limited Common Expenses means the expenses arising from the maintenance or repair of the Limited Common Elements for which the Unit Owners to which the Limited Common Elements are appurtenant shall be liable to the Association. Limited Common Expenses may include, but not be limited to, the expenses of maintenance, operation, repair, replacement, rehabilitation, restoration, renovation, and betterment of the Limited Common Elements; and expenses declared to be Limited Common Expenses by the provisions of the Condominium Documents, as the same may be amended, from time to time, in accordance with the provisions thereof.

Limited Common Expenses means expenses separately assessed against more than one but less than all of the condominium units generally in accordance with the use of the services, as permitted by subsection 11-110(b)(2) of the Condominium Act and Section 5.1 of these Bylaws. Except where the context requires otherwise, common expenses shall include Limited Common Expenses.

Examples of Limited Common Expenses in a sentence

• Each unit owner shall pay the common expenses, including Limited Common Expenses, assessed by the Board of Directors pursuant to the provisions of Section 5.1 hereof.

• Condominium Budget means a pro forma operating statement and budget prepared by the Condominium providing for the operation of the Condominium, and the maintenance, repair and replacement of the Condominium Common Area, which shall include all anticipated Common Expenses (including Limited Common Expenses and Reserves) and shall be prepared as provided in Section 3.8.

• The Board of Directors may impose reasonable user fees, whether or not designated as Limited Common Expenses, for the use of Reserved Common Elements or personal property of the Unit Owners Association or services.

• Any amounts accumulated from Assessments for General Common Expenses and income from the operation of the Common Elements, other than Limited Common Elements with regard to which Limited Common Expenses are assessed, in excess of the amount required for actual General Common Expenses and reserves for future General Common Expenses shall be credited to each Unit in accordance with such Unit’sinterest in the Common Elements.

• The Executive Board shall promptly provide any Owner, contract purchaser or proposed Mortgagee so requesting the same in writing with a written statement of all unpaid assessments for Common Expenses and Limited Common Expenses, if any, due from such Owner.

More Definitions of Limited Common Expenses

Limited Common Expenses means those expenses affiliated with the maintenance, repair, replacement, or reconstruction after Casualty of a Limited Common Element, the costs of which are assessed only against the benefiting Unit Owner(s), as authorized by the Act, and if so provided in this Declaration.

Limited Common Expenses means expenses separately assessed against more than one but less than all of the condominium units generally in accordance with the use of the services.

Limited Common Expenses means those expenses affiliated with the

Limited Common Expenses means Common Expenses assessed against fewer than all Owners, in such amounts or at such rates as Declarant shall provide in an amendment to this Master Declaration or a supplemental declaration recorded in the land records for Pamlico County, North Carolina, with respect thereto.

Limited Common Expenses means all expenses identified as such under Section 5314(c) of the Act and/or as described in the Community Documents.

Limited Common Expenses means and refer to Common Expenses benefiting one or more but less than all of the Owners and assessed against the Lots benefited pursuant to Deed Section V.5(a)(2).

Limited Common Expenses means expenses separately assessed against more