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AgdaPkt 2012-03-19
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AgdaPkt 2012-03-19
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Last modified
3/20/2012 2:54:48 PM
Creation date
3/15/2012 5:34:10 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Special
Agency Type
City Council
Date
3/19/2012
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6.1. B. - Page 58 <br />B. Assessments - Emergency Situations. Notwithstanding the foregoing, the <br />Board, without membership approval, may increase Regular Assessments or levy Special <br />Assessments necessary for an emergency situation in amounts that exceed the limits set forth in <br />Section 4.4.A, above. For purposes of this Section, an emergency situation is one of the following: <br />(1) an extraordinary expense required by an order of a court, <br />(2) an extraordinary expense necessary to repair or maintain the Project <br />or any part of it for which the Association is responsible where a threat to personal safety on the <br />Project is discovered, or, <br />(3) an extraordinary expense necessary to repair or maintain the Project <br />or any part of it for which the Association is responsible that could not have been reasonably <br />foreseen by the Board in preparing and distributing the pro forma operating budget, provided, <br />however, that prior to the imposition or collection of the Assessment, the Board shall pass a <br />resolution containing written findings as to the necessity of the extraordinary expense involved and <br />why the expense was not or could not have been reasonably foreseen in the budgeting process and <br />the resolution shall be distributed to the Members with the notice of the Assessment. <br />The Association shall provide to the Owners, by first -class mail, notice of any increase in the <br />Regular Assessments or Special Assessments of the Association, not less than thirty (30) nor more <br />than sixty (60) days prior to the increased Assessment becoming due. <br />This Section 4.4.13 incorporates the statutory requirements of California Civil Code § 1366. If <br />this Section of the California Civil Code is amended in any manner, this Section 4.4.8 shall be <br />automatically amended in the same manner without the necessity of amending this Declaration. <br />C. Notice and Quorum for Any Action Authorized Under Section 4.4: Any <br />action authorized under Section 4.4, which requires a vote of the membership, shall be taken at a <br />meeting called for that purpose, written notice of which shall be personally delivered or mailed to all <br />Members not less than ten (10) nor more than ninety (90) days in advance of the meeting specifying <br />the place, day and hour of the meeting and, in the case of a special meeting, the nature of the <br />business to be undertaken. The action may also be taken without a meeting pursuant to the <br />provisions of California Corporations Code §7513. <br />4.5. Division of Assessments: Both Regular Assessments and Special Assessments <br />shall be levied equally among the Condominiums, except for that portion of the Assessments <br />specially allocated to meet the cost of insurance, painting and roof reserves, and any commonly <br />metered domestic water, gas or electricity. These specially allocated items shall be levied among <br />the Condominiums in the proportion that the square footage of living space of each Unit bears to the <br />square footage of all the Units subject to the Declaration as determined by Declarant's plans and set <br />forth in the Budget to be submitted to the Department of Real Estate. Regular Assessments shall be <br />collected on a monthly basis unless the Board directs otherwise. Special Assessments may be <br />collected in one (1) payment or periodically as the Board shall direct. Declarant may elect to operate <br />the Project as rental property before the Units are offered for sale to the public. In this event, <br />Declarant may transfer title to one (1) Condominium to a third party after the recordation of the <br />Declaration solely for the purpose of establishing the Condominium regime. Such a transfer shall <br />not be deemed a conveyance to an Owner under authority of a Public Report for the purpose of <br />commencing Assessments hereunder. <br />4.6. Date of Commencement of Regular Assessment; Due Dates: Regular <br />Assessments shall commence as to all Condominiums on the first day of the month following the <br />first conveyance of a Condominium to an individual Owner under authority of a Public Report. The <br />14 <br />03/06/12 <br />T:IWPWIN601PROJECTS033 MAIN STREET \DEC - DRAFTING FORM[7][03 06 12].doc <br />
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