Instrument #2022025031 #31 Book:8196 Page:4802
Section 6.04. Special Assessments.
(a) Special Assessments. In addition to Annual Assessments, and as may be consistent with Fl. Stat. §720.315,the Board may levy at any time a special assessment for the purpose of defraying the cost ofany construction, maintenance,repair,replacement or insurance ofany improvement on the Common Area, any Areas of Common Responsibility, or on any easement benefiting the Association or the Property as shown on any Recorded Plat, or otherwise properly established, for the purpose of covering any budget deficits of the Association, or for any other purpose deemed necessary, desirable or appropriate by the Board (collectively,"Special Assessment(s)"). (b) Individual Assessment. The Board may levy an individual assessment against any Owner and that Owner's Lot and, if applicable, any Dwelling located thereon in order to cover any costs, expenses and fees whatsoever incurred by the Association due to (i) that Owner's failure to maintain its Lot or Dwelling pursuant to the standards set forth in this Declaration or as otherwise established by the Board or the ARC, or (ii) to reimburse the Association for loss or damage to the Association or to any Common Area, Area of Common Responsibility or easement area benefiting the Association or the Property caused by that Owner or that Owner's lessee, sublessee, licensee, agent, contractor, subcontractor, invitee, domestic help or guest,and not covered by insurance maintained by the Association, or (iii) for any other purpose expressly permitted by this Declaration or permitted under applicable Law, including any additional expenses attributable to the Association's maintenance of the landscaping or any associated pest control on the Lot(each assessment levied pursuant to (i),(ii), or (iii), above, an "Individual Assessment").
Section 6.05. Start-Up Assessment; Initial Annual Assessment; Capital or Resale Assessment; Due Dates.
(a) Annual Assessments on each Lot(s) in the Initial Property shall commence upon the closing of each Lot in the Initial Property to a bona fide third party purchaser (a "Third Party Purchaser"), or upon the occupancy of each Lot by a Third Party Purchaser, whichever is earlier. The Annual Assessment for the Initial Property for the calendar year 2022 shall be One Thousand Two Hundred and No/100 Dollars ($1,200.00) per Lot. Prior to Turnover, the Board shall not, without approval ofthe voting interests ofthe Class"A" Members,increase the Annual Assessments in any Fiscal Year by more than fifteen percent(15%)above what the Annual Assessments were in the prior Fiscal Year; provided, however,that any increase in the Annual Assessments in any Fiscal Year pursuant to the terms hereofmust be accompanied by an equal percentage increase in the Deficit Funding obligations. (b) At the closing of the sale of each Lot in the Property to a Third Party Purchaser that is not a Builder, said purchaser shall pay to the Association: (i) a one-time Start-Up Assessment in the amount of Three Hundred and No/100 Dollars ($300.00); and (ii) the entire Annual Assessment for the calendar year ofclosing, prorated on a per diem basis from the date ofclosing on the sale of, or the date of occupancy ofthe Lot, whichever is earlier, through the end ofthat calendar year. Thereafter, Annual Assessments shall be due, in advance, on or before the commencement of the Association Fiscal Year for which they are imposed; but the Board, as provided above, may elect to collect Annual Assessments in monthly, quarterly or semi-annual installments. Annual Assessments which commence to accrue as to any Lot other than on the first day ofthe year shall be prorated for the balance ofthat year. For the avoidance of doubt,the Start-Up Assessment shall not be payable upon the sale of Lot to any Builder(but shall be payable upon the subsequent sale of such Lot to a Third Party Purchaser), and, in connection with the sale of each Lot to a Builder, if requested by the Builder, the Annual Assessments shall be prorated on a quarterly basis, with the balance ofthe Annual Assessments due in connection with such Association Fiscal Year being due upon the sale of Lot to a Third Party Purchaser. Notwithstanding the foregoing, the Start-Up Assessment shall be due from the first Third
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