AgdaPkt 2015-06-22 Interview and Joint SA PFA

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29 6557.03/12309 guests, agents or pets; provided that such an Individual Special Assessment may only be levied to reimburse the Association for costs incurred in bringing the Owner and his Condominium into compliance with provisions of the Condominium Documents. The levy shall not include any portion that is paid or will be paid by any insurer under a policy maintained by the Association. Payment of the deductible amount shall be the responsibility of the Owner. If the reimbursement assessment is levied and paid before all or any portion of the costs have been incurred by the Association and the amount paid exceeds the costs incurred, the Association promptly shall refund the excess to the Owner. If the costs exceed the amount, the Owner shall reimburse the Association within 30 days thereafter. If payment is not made when due, the payment shall be considered a delinquent assessment and the Association may enforce the delinquent assessment as described in Sections 4.15 through 4.17 of this Declaration; provided, however, that such Individual Special Assessment shall not be subject to the enforcement and lien procedures contained in Sections 4.15 and 4.16. Section 4.8 Division of Assessments. Both Annual Assessments and Special Assessments shall be equally divided and allocated among the Unit Owners, as set forth in the Association Budget submitted by Declarant and accepted by the BRE. If there is any discrepancy between the square footages set forth in the Association Budget and the actual square footages of any Unit or the square footages of any Unit shown on a Condominium Plan, the square footages in the Association Budget shall control in order to retain a stable and reliable proration schedule. Annual Assessments shall be charged to and collected from each Owner on a monthly basis at the rate of one-twelfth (1/12) of the Annual Assessment charged with respect to each Condominium Unit. Special Assessments shall be charged to and collected from the Owners in either one (1) single payment, or in monthly payments, as determined by the Board. The Annual Assessments and Special Assessments may be increased or decreased in connection with the annexation of property, and any related Common Area improvements, facilities or amenities, to the Development as may be described in Declaration of Annexation(s) and Association Budget(s) related to any additional Phases(s) annexed into the Development. Section 4.9 Date of Commencement of Annual Assessment. The Annual Assessment provided for herein shall commence as to all Condominiums in the first Phase on the first day of the month following the first conveyance of a Condominium from Declarant to an Owner such first Phase under authority of a Public Report issues by the BRE. In any subsequent Phases, the Annual Assessments against all Condominiums in each Phase shall commence on the earlier to occur of (i) the first day of the month following the closing of the first conveyance to an Owner in that Phase, or (ii) upon the occupancy of a subdivision interest in the annexed Phase. The first Annual Assessment shall be adjusted according to the number of months remaining in the calendar year. The first Annual Assessment for each added Phase shall be adjusted according to the number of months remaining in the calendar year after the Annexation. Annual Assessments may be reduced or abated pursuant to a management agreement entered into between Declarant and Association. Section 4.10 Failure to Establish Annual Assessment. Subject to the provisions of Section 4.3 hereof, the Board shall determine and fix the amount of the Annual Assessment charged against each Condominium at least forty-five (45) days in advance of each fiscal year of the Association. In the event that the Board fails or refuses to establish an Annual Assessment as required by this Section, the Annual Assessment for the immediately preceding fiscal year shall be the Annual Assessment for the fiscal year as to which no Annual Assessment has been established unless an increase or decrease therein is approved by a majority of each class of Members or, in the event Class B shares have been converted to Class A shares, the vote or written assent of a majority of the total voting power of the Association as well as the vote or written assent of a majority of the total voting power of Members other than Declarant. 7.1.K. - Page 33