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7.1.F. - Page 87 <br /> (2) Commercial Units: The Commercial Units shall pay for a share of the <br /> Garage Expenses, after deduction of any items excluded from Garage Expenses as hereinafter set <br /> forth, based upon and determined by the exclusive use provided to each Commercial Owner of <br /> certain Parking Spaces that have been assigned and licensed to the Commercial Owner pursuant <br /> to Section 2.4.B based upon the relative number of hours that such Parking Spaces are available <br /> exclusively to the Commercial Owner. Notwithstanding any other provisions of this Declaration, <br /> Garage Expenses allocated to the Commercial Units shall exclude expenses that do not benefit <br /> Commercial Owners use of the Garage, such as access controls or revenue generating equipment <br /> that only serve portions of the Garage not accessible to the Commercial Owners; or capital costs <br /> and operating cost of any equipment in the Garage that only serve Residential Owners, such as <br /> car washing or detailing to serve Residents. Each Commercial Unit shall be charged for the <br /> Parking Spaces as to which it has been allocated and provided exclusive use based upon a <br /> determination as to the number of hours of parking in such Parking Spaces that have been <br /> established for the exclusive use of the particular Commercial Owner, with such determination to <br /> be based upon the total number of Parking Spaces that are situated in the Garage as such <br /> Parking Spaces are shown and described on the Condominium Plan, divided by the number of <br /> Parking Spaces allocated to the Commercial Owner and then adjusted for the relative number of <br /> hours per day that such Parking Spaces are allocated for the exclusive use of that Commercial <br /> Owner: <br /> By way of example, based on the assumption that there are 600 total Parking Spaces in the <br /> Garage and that the Commercial Unit A will be allocated 40 Parking Spaces, and that 38 of those <br /> 40 Parking Spaces will be available for the exclusive use of Commercial Unit A for 12 hours a <br /> day, Monday through Saturday, exclusive of bank holidays, and 2 Parking Spaces will be made <br /> available for the exclusive use of Commercial Unit A for 24 hours a day, the share of Commercial <br /> Unit A garage expenses is 3% calculated as follows: <br /> Total Hours for 600 Spaces: 5,256,000 hours per year (600x365daysx24hours) <br /> Commercial Unit A: <br /> 38 Spaces: 137,712 hours per year <br /> [6 days x 52 weeks x 12hours (less) 10days @ 12hours) x 38] <br /> 2 Spaces: 17,520 hours per year <br /> [365 days x 24 hours) x 2] <br /> Commercial Unit A Total: 155,232 hours <br /> 155,232 hours/5,256,000 hours = 3% <br /> 4.6. Date of Commencement of Regular Assessment; Due Dates: <br /> A. The Board of Directors shall use its best efforts to fix the amount of the <br /> Regular Assessment against each Condominium and send written notice thereof to every Owner at <br /> least forty-five (45) days in advance of each Regular Assessment period, provided that failure to <br /> comply with the foregoing shall not affect the validity of any Assessment levied by the Board. <br /> Regular Assessments may be prorated on a monthly basis. <br /> B. The levying of Assessments may be postponed by the Board of Directors <br /> after the time that a Commercial Unit has been conveyed to a Commercial Unit Owner until such <br /> time as a Residential Unit has been conveyed by Declarant to a Person other than the Declarant, <br /> or Successor to Declarant. During such postponement, the Declarant and the Commercial Unit <br /> Owner shall enter into a Common Cost Sharing Agreement pursuant to which Declarant shall pay <br /> all of the Common Expenses of the Project, including the General Use Common Expenses, the <br /> Residential Common Expenses or Garage Expenses, including Reserves required for each such <br /> element of Common Expenses. After the conveyance of a Residential Unit to a Person other than <br /> the Declarant, or Successor to Declarant, Assessments shall commence on all Units within thirty <br /> (30) days after such conveyance. <br /> C. The due dates shall be established by the Board of Directors. <br /> D. The Association shall, upon demand, and for a reasonable charge, furnish a <br /> certificate signed by an officer or designated representative of the Association stating that the <br /> Assessments on a specified Condominium have been paid. Such a certificate shall be conclusive <br /> evidence of such payment. Regular Assessments shall be collected and shall be due and payable <br /> on a monthly basis, unless the Board directs otherwise. Special Assessments may be collected in <br /> 24 <br /> [DRAFT][05.03.14] C:\Program Files\Neevia.Com\Document Converter\temp\4056.doc <br />