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6. 1. F. - Page 35 authorized by law or regulations of the Internal Revenue Service and the California Franchise Tax Board in order to avoid, to the extent possible, its taxation as income to the Association. Section 4.6 Notice and Quorum for Adoption of Annual or Special Assessment Any action authorized to be taken by the Members under Sections 4.3 and 4.4, shall be taken at a meeting called for that purpose, written notice of which shall be mailed by first class mail, postage prepaid to each Member at the address of each Unit owned by such Member within the Development not less than ten (10) days nor more than ninety (90) days prior to the meeting. For purposes of Sections 4.3 and 4.4 only, quorum means more than fifty percent (50 %) of the Owners of the Association. The proposed action may also be taken without a meeting pursuant to the provisions of Corporations Code Section 7513. Any voting of the Owners regarding assessments shall be by secret ballot and shall comply with the applicable procedures in Civil Code Section 1363.03. The Association shall provide notice by first class mail to the Owners of the separate interests of any increase in the Annual or Special Assessments of the Association, not less than thirty (30) nor more than sixty (60) days prior to the increased assessment becoming due. Section 4.7 Individual Special Assessment The Association shall have the authority to levy an Individual Special Assessment, pursuant to the procedures contained in the Bylaws, against any Condominium or any Owner in order to obtain reimbursement of certain funds expended by the Association, including, without limitation, any costs incurred or to be incurred by the Association as the result of any act or omission of any Owner or occupant of any Condominium or their family members, 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 Except as provided in this Section 4.8 below, all Annual Assessments shall be equally divided among the Unit Owners. Expenses for items that are reasonably expected to provide certain Owners with benefits at least ten percent (10 %) greater than other Owners with different sizes of Units shall be prorated and allocated to the Owners according to each Owner's Percentage Share, as such percentage is shown in the Association Budget submitted by Declarant and accepted by the DRE as a part of Declarant's application for a final subdivision public report. 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 the 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, other than an Individual Special Assessments, shall be divided equally among the Owners, except where the Special Assessment is levied to raise funds for the rebuilding or 25 CCRS -One Marina. docx