For the complete governing documents, please see the "Documents" page on this web site.
Excerpts from the governing documents:
4.1 Obligation to Pay Assessments
The Declarant, for each Lot owned within the Subdivision, hereby covenants, and each Owner of any Lot by acceptance of a deed therefore, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association the Assessments and charges provided for in this Paragraph 4. All Assessments, together with interest, late charges, costs, and reasonable attorney fees, shall be a charge and continuing lien upon the Lot against which each Assessment is made. Each Assessment, together with interest, late charges, costs and reasonable attorney fees, shall also be the joint and several person obligation of each Person who had an ownership interest of such Lot at the time the Assessment fell due. The words Assessment and Assessments when used herein shall mean the Assessment an all interest accrued thereon, all late charges, all costs and all attorney fees incurred in connection with the collection or advise given in respect to any delinquent Assessment, even though the words interest, late charge(s), costs and attorney fees may not herein be used with the word Assessment or Assessments. The personal obligation for delinquent Assessments shall not pass to such Owners successors in title unless expressly assumed by them; but the Lot shall continue to be liable for payment of the Assessment.
4.2 Purpose of Assessments
The Assessments levied by the Association shall be used to operate and maintain the Association, to promote the health, safety and welfare of the Owners and Occupants in the subdivision, to pay for the improvement, maintenance, repair and replacement of the Common Areas and all improvements and structures on them, to enforce the covenants, restrictions and conditions of this Declaration, and to otherwise carry out all incidental and related duties of the Association.
Without limiting the foregoing, Assessments shall be levied and used for the following purposes:
(please refer to the full document on the "Documents" page of this web site for a complete list)
4.3 Uniform Rate of Assessment
Except as otherwise provided in Paragraph 4.4 below, all Assessments must be fixed at a uniform, that is, equal, rate for all Lots other than those described in Paragraph 4.4 below, and may be collected on a monthly basis, on an annual basis, or on such other basis as the Board determines from time to time.
4.4 Declarant and Builder Lots
(a) Lots owned by Declarant shall not be subject to any Assessment until dwelling houses in which Persons are living, have been constructed on them.
(b) Subject to Paragraph 4.6, Lots owned by Builders shall not be subject to any Assessment until a dwelling house has been constructed on the Lot and a Person is living in the house.
(c) Declarant may extend or shorten the time provided in (b), above, that Lots owned by a Builder are not subject to Assessment by a writing, signed by Declarant delivered to the Building and a Trustee of the Association.
4.5 Commencement of Assessments: Due Dates
Once each year after the Association is formed and organized by an election of a
Board of Trustees and officers, the Board shall prepare or cause to be prepared and shall adopt a budget for the operation of the Association during an ensuing 12-month or lesser period. The amount determined to be needed by such budget shall be allocated and assessed equally against all Lots, except those Lots described in Paragraph 4.4 above. ...The Board may adopt a calendar or fiscal year for the purpose of establishing a budget and may, if it wishes, change such fiscal or calendar year from time to time. As provided in Paragraph 4.3 above the Board may require the Assessment to be paid on a monthly, annual or other basis. The Board may, also, determine the due date by which such payments shall be made. The failure of the Board to prepare and adopt a budget for any year or to fix the amount of an Assessment for an ensuing year shall not relieve the Owners from paying the Assessment when established by the Board. If the board should fail to prepare and adopt a budget, the Assessment applicable for the preceding year and the time or times for its payment shall be applicable for the ensuing year and shall be paid by the Owners until the Board determines a new Assessment. The Board may increase or decrease an annual Assessment in a course of a year for sound business reasons. Notice of the Assessments made and revisions thereof shall be given as provided in Paragraph 7.7.
Bylaws - Section 1 Assessments
Any Assessments, which are not paid when due, shall be delinquent. If the Assessment is not paid within ten (10) days after the due date, a late charge of Twenty-Five Dollars ($25.00) a month shall be added to the amount then due ...No Owner may waive or otherwise escape liability for the Assessments provided for herein by non-use or abandonment of his Lot.