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annual maintenance and operation of the P! Dject as specified in the <br />annual budget and the Board shall ailocat.~ a portion of said funds <br />as collected as reserves for conting, ancies, replacement and <br />defe~ed maintenance of the capital impro~'ements of the Project as <br />speclfied in the annual budget. Said fun¢[s shall be deposited, as <br />allocated~ into the appropriate bank ac~ :ounts and said accounts <br />shall be separately maintained by the Association. Upon sale or <br />transfer of any lot by any Owner, the Owne ~'s interest in the funds <br />shall be deemed sutomaticall¥ transferred to the successor or <br />transferee of such Owner. <br /> <br />In t~ event that the Board retains a professional management <br />service, the Board may delegate the a =thority to deposit or <br />withdraw funds to responsible representat!Lves of the professional <br />management agent so retained. The profe~lsional management agent <br />may additionally be authorized to establish a co~,on trustee <br />accouDt for deposit of assessments as collected. Any funds <br />deposited in such a common trustee accou~ t shall be allocated as <br />previously specified herein. ' <br /> <br />Sectio'~ 13 Books of Account: The Boa~ ~ shall maintain full, <br />complete and correct books of account o the operation of the <br />Project and vouchers supporting expenditu 'es. Any Lot Owner, or <br />the duly authorized representative thereof may at a~y time and at <br />his own expense cause an audit or inspe¢ tion to be made of the <br />books: and records of the Association. <br /> <br /> <br />