Common use of HOA Reserve Funds Clause in Contracts

HOA Reserve Funds. Seller will provide funding to the Woodside Park, Phase I Homeowners Association in an amount equal to three (3) monthly installments, as determined in accordance with the Condominium Declaration, to an “Association Replacement Reserve Account”. Such payment is in addition to the regular monthly operating dues for common expenses payable by the owner of each Woodside Park, Phase I unit pursuant to the Condominium Declaration. ▇▇▇▇▇ AND ▇▇▇▇▇▇ AGREE THAT THE CONTRACT DEADLINES REFERENCED IN SECTION 24 OF THE REPC (CHECK APPLICABLE BOX): [ X] REMAIN UNCHANGED [ ] ARE CHANGED AS FOLLOWS: To the extent the terms of this ADDENDUM modify or conflict with any provisions of the REPC, including all prior addenda and counteroffers, these terms shall control. All other terms of the REPC, including all prior addenda and counteroffers, not modified by this ADDENDUM shall remain the same. [ ] Seller [X] Buyer shall have until 5:00 [ ] AM [X ] PM Mountain Time on (Date), to accept the terms of this ADDENDUM in accordance with the provisions of Section 23 of the REPC. Unless so accepted, the offer as set forth in this ADDENDUM shall lapse. [ ] Buyer [ ] Seller Signature (Date) (Time) [ ] Buyer [ ] Seller Signature (Date) (Time)