Examples of Shared Costs in a sentence
Each Owner shall pay one fourth (1/4) of its Pro Rata Share of the budgeted annual Shared Costs by the first day of each calendar quarter during the year.
So long as Developer owns any Lot, Developer may create, amend and/or supplement the Governmental and Utility Documents as to the Lot(s) so owned by Developer without consent of any other Owner if the new document, amendment and/or supplement to the Governmental and Utility Documents impacts only Lots then owned by Developer and does not materially and adversely affect the Critical Access Drives or Common Maintenance Area, or the Shared Costs.
Upon request, the Operator shall provide an Owner with reasonable back-up documentation of Shared Costs incurred and reserves maintained.
The Assessments payable by each Owner to the Operator shall consist of such Owner’s Pro Rata Share of the Shared Costs for the Common Maintenance Area, and such other costs allocable or chargeable to such Owner pursuant to the express provisions of this Declaration.
Any Owner, upon at least ten (10) business days’ notice to the Operator, no more than once per year, shall have a reasonable right to audit the Operator’s records regarding Shared Costs.