Instilment' 2005-256417 # 20 Book: 5654 Page: 31
(15) By an affirmative vote of a majority of the Directors, to set an annual assessment at an amount sufficient to pay the expenses ofthe Association and to meet the obligations imposed by the Declaration and any supplementary declarations. Annual assessments may be due in quarterly installments at the discretion ofthe Board ofDirectors. (16)To send written notice ofeach assessment to every Owner subject thereto at least thirty(30)days in advance ofthe due date ofthe annual assessment or first installment thereof. Quarterly notices will not be sent. Quarterly installments are due on the first day ofJanuary,April,July and October in the amount specified in the one notice. (17) To accelerate the payment of any assessment for the balance of the Association's fiscal year and declare the entire balance immediately due and payable in full if any installment remains unpaid thirty (30) days after the installment due date. (18) To take action it deems appropriate for the best interest of the Association with regard to assessments, which may include the filing of a lien against the property,the bringing of an action at law or equity against the Owner personally obligated to pay the same or to perfect, record and foreclose a lien against the property. (19) To produce and maintain adequate insurance policies to protect the improvements to the common areas and personal property ofthe Association and its Directors, officers and committee members and employees and to protect its liability exposure.
(20)To enter into mortgage agreements and obtain capital debt financing subject to the provisions ofthe Declaration and Articles ofIncorporation.
(21)To appoint such committees as prescribed in the declaration or herein or as it otherwise deems appropriate.
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