Failure to Assess Clause Samples
The "Failure to Assess" clause defines the consequences or procedures that apply if a party does not perform a required assessment, such as an inspection, evaluation, or review, within a specified timeframe. In practice, this clause may stipulate that if an assessment is not completed as agreed, certain rights may be waived, or the other party may proceed based on their own findings or assumptions. Its core function is to ensure timely action and prevent delays or disputes by clarifying what happens if an assessment obligation is not fulfilled.
Failure to Assess. The omission or failure of the Board to fix the assessment amounts or rates or to deliver or mail to each Owner an assessment notice shall not be deemed a waiver, modification, or a release of any Owner from the obligation to pay assessments. In such event, each Owner shall continue to pay Base Assessments and Neighborhood Assessments on the same basis as for the last year for which an assessment was made, if any, until a new assessment is made, at which time any shortfalls in Collections may be assessed retroactively by the Association.
Failure to Assess. The omission or failure of the Declarant to fix the Assessment amounts or rates or to deliver or mail to each Owner an Assessment notice will not be deemed a waiver, modification, or a release of any Owner from the obligation to pay Assessments. In such event, each Owner will continue to pay annual Assessments on the same basis as for the last year for which an Assessment was made, if any, until a new Assessment is made, at which time any shortfalls in collections may be assessed retroactively by the Declarant.