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2017.04.17 CC Packet
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2017.04.17 CC Packet
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City Council
Document Type
Minutes
Meeting Date
4/17/2017
Meeting Type
Regular
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5.14.5 Notwithstanding the foregoing, the Master Developer, any other owner of <br />an Excluded Parcel, or any owners' association governing the Excluded Parcel, as <br />applicable, shall be responsible to pay its fair share of the maintenance, repair and <br />replacement of any improvements to the Property which are utilized by or for the benefit <br />of such part of the Excluded Property, and all costs associated with changes or damage to <br />the Property caused by the installation, use or maintenance of the services or facilities by <br />the Master Developer or its successors or assigns. <br />SECTION 6 <br />ASSESSMENTS AND FEES FOR MASTER COMMON EXPENSES <br />6.1 General. The Master Association has authority to levy Master Assessments <br />against the Members. A budget shall be established and Master Assessments for Master <br />Common Expenses shall be determined and levied against the Members by the Master Board, in <br />its discretion, subject to the requirements and procedures set forth in this Section 6, and the <br />requirements of the Master Bylaws. Master Assessments shall include annual Master <br />Assessments under Section 6.2, and may include special Master Assessments under Section 6.3, <br />Neighborhood Assessments under Section 6.4, and limited Master Assessments under <br />Section 6.5. Subject to Section 6.7, annual Master Assessments and special Master Assessments <br />shall be allocated among the Members in accordance with Section 3.6. Neighborhood <br />Assessments and limited Master Assessments shall be allocated among the Members or Units as <br />provided in Sections 6.4 and 6.5. <br />6.2 Annual Master Assessments. Annual Master Assessments shall be established <br />and levied annually by the Master Board. Each annual Master Assessment shall cover all of the <br />anticipated Master Common Expenses of the Master Association for that year which are to be <br />allocated among the Members in accordance with Section 3.6. Annual Master Assessments shall <br />be payable in monthly, quarterly, semi-annual or annual installments, as determined by the <br />Master Board. Annual Master Assessments shall provide, among other things, for an adequate <br />reserve fund for the maintenance, repair and replacement of those parts of the Property, and <br />improvements located outside of the Property for which the Master Association is responsible, <br />Neighborhood Assessments or limited Master Assessments pursuant to Sections 6.4 and 6.5. <br />6.3 Special Master Assessments. In addition to annual Master Assessments, the <br />Master Board may levy a special Master Assessment against the Members at any time for the <br />purposes described in this Master Declaration. Special Master Assessments shall be allocated <br />among the Members in accordance with Section 3.6. Among other things, special Master <br />Assessments shall be used for the purpose of defraying in whole or in part the cost of any <br />unforeseen and unbudgeted Master Common Expense. <br />6.4 Neighborhood Assessments. In addition to annual Master Assessments and <br />special Master Assessments, the Master Board may levy and allocate any Master Common <br />Expense benefiting fewer than all of the Neighborhoods among only the Neighborhood <br />Association or Neighborhood Associations benefited and/or the Neighborhood Association or <br />Neighborhood Associations whose members are benefited. All Neighborhood Assessments shall <br />be levied against the Units in the Neighborhood Association or Neighborhood Associations <br />benefited by the Neighborhood Board of each such Neighborhood in accordance with its <br />Neighborhood Governing Documents. <br />15 <br />2190398.v1 <br />
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