AgdaPkt 2015-06-22 Interview and Joint SA PFA

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32 6557.03/12309 automatically be amended or rescinded in the same manner. The Board should confirm the current statutory requirements under these Civil Code Sections. Section 4.17 Enforcement of Assessment by Suit. The Association may, in its own name, commence and maintain a suit at law against any Owner or Owners personally obligated to pay Assessments for such delinquent Assessments as to which they are personally obligated. Any judgment rendered in any such action shall include the amount of the delinquent Assessments, together with processing fees, interest thereon, costs of collection, court costs and reasonable attorney’s fees in such amount as the court may determine with respect to such delinquent Owner. Suit to recover judgment for unpaid Assessments shall be maintained without foreclosing or waiving any lien for such Assessments created pursuant to this Declaration. In any action instituted by the Association to collect delinquent Assessments, accompanying late charges and/or interest, the prevailing party shall be entitled to recover costs and reasonable attorney’s fees. Section 4.18 Suspension for on-Payment of Assessment . The Board may suspend the voting rights and right to use the Common Area of a Member who is in default in the payment of any Assessment after notice to such Member and an opportunity for a hearing before the Board which satisfies the minimum requirements of Section 7341 of the Corporations Code and as provided in the Bylaws. Section 4.19 Unallocated Taxes. In the event that any taxes are assessed against the Common Area, or any portion thereof, the personal property of the Association or the Development as a whole, rather than against the Condominiums, said taxes shall be included in the Assessments made under the provisions of Section 4.1, and, if necessary, a Special Assessment may be levied against the Condominiums in an amount equal to said taxes to be paid in two installments, each thirty (30) days prior to the due date of the respective tax installment. Each Owner is obligated to pay any taxes or assessments assessed by the County Assessor against the Owner’s Condominium and personal property. Until such time as real property taxes against the Property are segregated so that real property taxes are assessed against each Condominium (in addition to any supplemental tax assessments levied against any Condominium as a result of the transfer of title from Declarant to the first purchaser), the non-segregated tax amount shall be allocated among all the Condominiums in accordance with an allocation method as may be selected by Declarant or by the Board. Unless paid directly by the Owner, each Owner shall pay the Owner’s allocable share to the Association in a timely and proper manner so that the Association may make the non-segregated tax payment in a timely and proper manner. The Association may levy a special assessment against the Condominiums to collect the non-segregated tax amount. Any Owner who breaches the Owner’s duty to pay the Owner’s allocable share in a timely and proper manner shall be liable for any penalties, interest, fees or other such costs incurred as a result of the breach and the Association may levy a reimbursement assessment against the Owner’s Condominium to collect the amount, including any penalties, interest, fees or other costs. Section 4.20 Review of Accounts, Revenues and Expenses. As provided in Civil Code Section 5500, the Board shall, on at least a quarterly basis: (a) Review a current reconciliation of the Association’s operating accounts. (b) Review a current reconciliation of the Association’s reserve accounts. (c) Review the current year’s actual reserve revenues and expenses compared to the current year’s budget. 7.1.K. - Page 36