l:iUOk: !J;JL i Page: 3964
1
.I
ARTICLE IV COVENANTS AND MAINTENANCE ASSESSMENTS
•
'
Section 4.1 Creations of Lien and Personal Obligation. The Developer ag• ees to, and each owner and each tenant of each Lot or Dwelling Unit shall, by acceptance of a deed or other instrument of conveyance or lease, whether or not it shall be so expressed in any such deed or instrument, be deemed to have agreed to all terms, covenants, conditions, restrictions, and other provisions of this Declaration and to have agreed to promptly pay to or on behalf of the Owners Association and, if applicable, one of the Neighborhood Associations or their successors or assigns, the following: (a) All quarterly assessments or charges (whether collected quarterly or annually); and (b) All special assessments or charges for the purposes set forth in Section 4.2 of this Declaration that shall be fixed, established, levied, and collected from time to time as hereafter provided. Annual and special assessment by any or all Associations (together with such interest thereon And the cost of collection including reasonable attorneys' fees as hereinafter provided) shall be a charge and continuing lien on the real property and improvements thereon against which such assessment is made, whether or not a claim of lien is filed. Each assessment (together with such interest thereon and the costs of collection including reasonable attorneys' fees as above established) shall also be the personal obligation of the person who was the owner of such Lot or Dwelling Unit at the time when the assessment first become due and payable, and also the joint and several personal obligation of any subsequent grantees who take title to the Lot or Dwelling Unit without first obtaining a letter from the Associations as herein provided to the effect that there are no outstanding assessments against the Lot or Dwelling Unit being purc:hased. In the case of co- ownership pr co- tenancy of a Lot or Dwelling Unit, each owner or kmant shall be jointly and severally liable for the entire amount of the assessments and the aforesaid interest, collection costs, and reasonable attorneys' fees. Prospective purchasers are hereby notified of the possible charge against the Lots and Dwelling units in the Venetian Bay Community. Section 4.2. Purpose of Assessments. Assessments levied by ar.y of the Associations shall be exclusively: (a) to improve, maintain, enhance, enlarge, protect, monitor and operate the areas within their respective ownership or control as specified in this Declaration; (b) to cover operating and administrative expenses; (c) to fund services and benefits which that particular Association is authorized to provide, including, but not limited to: insurance; construction; maintenance, repair and replacement of improvements; the escrowing of sufficient monit:s for specific purposes to 14
'
• ' ' I I
.
' I
. :.__) ' -•
d
I
-
I '
_~:J
' '
' -_:l -- i ~= I -- ""l ~ ~
--=:! _j '
- -- '
-~
.
-1 --
' - I
. '
- -- ' -- J
--- -- - -
I ' '
' '
Made with FlippingBook - professional solution for displaying marketing and sales documents online