Instrument #2022025031 #59 Book:8196 Page:4830
(c) Amounts. The Board of Directors(ifthe Committee's findings are made against the Owner)may impose a suspension or a fine in the form ofIndividual Assessments against the Lot owned by the Owner as follows: (i) For each separate violation, a fine not exceeding One Hundred Dollars($100.00). Each day that there exists on any Lot any structure, thing or condition which violates this Declaration shall be considered a separate violation. (ii) Because Declarant intends that the Property be developed and occupied as a high-end residential development, it is important that the Association have the authority and leeway to enforce the covenants, conditions, and restriction set forth in the Governing Documents and the Rules and Regulations by meaningful fines. Therefore, fines may exceed One Thousand and No/100 Dollars ($1,000.00) in the aggregate and there shall be no limit on the aggregate amount offines that may be levied for continuing violations of the covenants, conditions, and restriction set forth in the Governing Documents or in the Rules and Regulations. (d) Payment and Collection of Fines. Any Owner against whose Lot fines have been levied shall remit such fines to the Association within thirty (30) days of receiving notice of such fines from the Association. The Association may pursue legal and equitable remedies to recover such fines. Fines shall be treated as an Individual Assessment subject to the provisions for the collection ofIndividual Assessments,and the lien securing same,as set forth herein.
(e) Application of Proceeds. All moneys received from fines shall be
allocated as directed by the Board ofDirectors.
Non-exclusive Remedy. These fines and suspensions shall not be construed to be exclusive, and shall exist in addition to all other rights and remedies to which the Association may be otherwise legally entitled; provided, however,any fines paid by the offending Owner shall be deducted from or offset against any damages which the Association may otherwise be entitled to recover by Law from such Owner. (g) CPI. Unless limited by Law, specific dollar amounts stated in this Section 15.03 shall increase from time to time by application of a nationally recognized consumer price index chosen by the Board ofDirectors, using the year ofthe Effective Date as the base year. In the event no such consumer price index is available, the Board shall choose a reasonable alternative to compute such increases. (h) Suspension of Voting Rights. In accordance with Florida law, the Association may suspend the voting rights of a Member for the nonpayment of regular Annual Assessments that are delinquent in excess ofninety(90)days.
ARTICLE XVI
DAMAGE OR DESTRUCTION TO COMMON AREA
Damage to or destruction of all or any portion of the Common Area shall be addressed in the following manner,notwithstanding any provision in this Declaration to the contrary:
Section 16.01. Sufficient Insurance Proceeds. In the event of damage to or destruction of the Common Area, if the insurance proceeds are sufficient to effect total restoration, then the Association
54
58771933;7
Made with FlippingBook - professional solution for displaying marketing and sales documents online