Agenda - 08-27-2012 - C2 - Laserfiche WebLink

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. assessments within �fteen {15}days of receipt c�f the bill from the Association. The cost eo repair individual pumps,septic tanks and individua(waste water disposal fietds which service a particular Lot shall be the exclusive respc�nsibility of the individual homeawner of such Lot. Repairs tt> the lines within #he Septic Force Main Area will be the responsibiIity of the Associatia�; pravided, however, that any L,ot owner who hirnself ar through his agents damages tlie sewer lines in the Sewer Fffrce Main Area shall be responsible for the cost of repairing such damages. � D. Capital Contribution. The purchaser af each Lot in the Subdivisian{exctuding Lot 21), shall pay to the Association at the clasing of the purchase of such Lot the sum of Two H�ntired and Fifty and Na/�00 Dallars ($254.(lQ) per Lot purchased, said sum to be deposited by the Associatian in its bank account for use as working capital for the Assaciatian. This initiai capital cor�tribution of'I'wo Hundred and Fifty and No/1fl0 Dollars($250.Q0}per Lc�t shall be deemed an assessrnent pursuant to the terms and pr�visions of this Article VII and shall he a charge upon the Lot and a continuing lien upon the Lat until paid and shall be enforceable as an assessment pursuant to the terms and provisions of this Article VII. E. Basis af Annual Assessment. 1, The Annual A,ssessments shali be based upon the cash requirements, as the Baard of L�irectars shall from time to tirne determine,necessary to provide for the payment tif al( estimated expenses arising out of or cannected with the purposes of tha assessments as stated in Paragraph B of this Article. , 2. The m�imum Annuai Assessment for any Lat shall be Qne thousand and No1100 T�ollars($1,OQfl.00}per year. Tfiis ma�cimum assessment is in addition to the annual assessment for the C1FF LO'T SEPT"IC AREAS ectntained in Article VII, Paragraph C. The maacimum may_be changed as follows: � ' a. The maacimuzn Annual Assessment may be inereased each calendar year � by not mare than ten percent (10°l0) above the maximum Annuai Assess�ent for the previous year without a vote of the 1Vlembership. b. The Board of Directors may, from time to time, fix the Annual Assessment at any amount less than or equal to the maximum without a . vote of the Membership. __ _ c. A majority of the crotes cast by ttre Members_{Class_A Members and_Class __ _ . B Members) voting in person or by proxy on such matters at a meeting called for such purtaose, written notice of which shall be given to aIl Members at least thirty{3�) days in advance setting forth tlie purpose of the meeting, shali be required to inerease the maximum Annual Assessmant for any one year rriore than Y.he percentage seY forth in subparagraph a above. For so long as the Declarant shall awn a�y "Declarant's Praperty", no such increase in the rtsaximuzn Annual . Assessment by the Membership shail be effective uniess and until Declarant shail have given written consent thereta The Members shaii have no power to require Declarant to pay any Annual Assessment as to any Lot ar Lots owned by Dec(arant for so long as Declarant shaIl own any"Declarant's Property". F. Date of Commencement of Annual Assessments. Annual Assessments shal!be imposed on . the Lots owned by �wners other tP�an Dectarant an�f Lot 21 from and after December 3 2, 2007 and�hall be paid by the Owners and callected by the Assaciation in advance each yeat�. Annuai A�sessments shall be paid, and collected annually, on or before March 15 af each year. Subject ta the provisians of Paragraph E below,Annual Assessment for a Lot owned by an C}wner other than a Contr�act Seller or Builder, shall commence beginning on the first day next immediately following the date upon which such Owner shall have closed (shait have taken title to)upan the purchase of such Lot,prorated for any portion of the year remaining. 11