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PC Packet 03.23.17
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PC Packet 03.23.17
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11/18/2025 3:03:18 PM
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Commissions
Meeting Date
3/23/2017
Document Type
Agenda/Packets
Commission Name
Planning
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the Units in the Neighborhood in accordance with its Neighborhood Governing <br /> Documents. <br /> 6.6.3 Subject to Section 6.7, annual Master Assessments and special Master <br /> Assessments shall be allocated among the Neighborhood Associations in accordance with <br /> Section 3.6. <br /> 6.6.4 Each Neighborhood Association shall pay its share of the Master <br /> Assessment to the Master Association in advance, monthly, quarterly or annually, as <br /> determined by the Master Board. Notice of a Master Assessment shall be given to the <br /> Members as provided in the Master Bylaws. <br /> 6.7 Liability for Master Assessments. Each Neighborhood Association shall be liable <br /> for the share of the Master Assessments levied against it. <br /> 6.7.1 Except as provided in Section 6.7.2, the liability for Master Assessments is <br /> absolute and unconditional and no Member or Owner is exempt from liability for <br /> payment of the Master Assessments by right of set-off, by waiver of use or enjoyment of <br /> any part of the Property, by reason of a Neighborhood Association's failure to collect <br /> Neighborhood Common Expenses from its members, by waiver of any rights, or by <br /> reason of any claim against the Master Developer, the Master Association or any of their <br /> respective officers, directors or agents for their failure to fulfill any duties under the <br /> Master Governing Documents or MCIOA. <br /> 6.7.2 Notwithstanding anything to the contrary in the Master Governing <br /> Documents or any Neighborhood Governing Documents, the Master Developer shall not <br /> be liable to pay any Master Assessment, nor any assessment levied by a Neighborhood <br /> Association for Master Assessments, with respect to any Unit owned by it, nor shall the <br /> Unit be subject to a lien for such Assessments, until the date on which a Dwelling <br /> constituting or located within the Unit has a certificate of occupancy or other comparable <br /> certification issued by the City. The Master Developer may, in writing, grant a similar <br /> exemption from liability for Master Assessments to a Neighborhood Developer or <br /> Builder. In addition, the Master Board may allocate a reduced share of the Master <br /> Assessment to certain Members to take into consideration (i) Neighborhoods which <br /> contain incomplete or unoccupied Dwellings, or (ii) Neighborhoods which are not <br /> otherwise receiving full services from the Master Association (regardless of who owns <br /> the Units). <br /> 6.8 Working Capital. There shall be established a working capital fund to meet <br /> Master Association operating expenses or to purchase additional equipment or services during <br /> the Master Association's beginning years of operation. <br /> 6.8.1 There shall be contributed on a one-time basis for each Unit sold and <br /> conveyed to a purchaser a working capital contribution in the amount of $250.00; <br /> provided, that a conveyance to a Neighborhood Developer or a Builder for purposes of <br /> construction or development of one or more Units shall be exempt from the foregoing <br /> contribution requirements. <br /> 17 <br /> 219o398.v1 <br />
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