Associations. Buyer(s) acknowledges that, if property is part of a planned residential community (condo, homeowner association, etc.), in accordance with the terms and conditions contained in the Development Documents Buyer may be responsible for the payment of certain assessments to be levied against the Property by the Association. Buyer(s) understands that any estimated operating budget received at the time of purchase is only an estimate of what it will cost to run the Association. Changes to the budget may be made at any time to cover increases or decreases in expenses or estimates in the budget. Without limiting the generality of the Paragraph, those changes will not give Buyer(s) any right to cancel this Agreement unless Contractor also materially changes any guaranteed assessments stated in the Development Documents in a manner which is inconsistent with the terms of the Contractor’s guarantees, if any.
Appears in 11 contracts
Samples: Administrative Services, Administrative Services, Administrative Services
