Insurance Special Assessment without Vote of Members Sample Clauses

Insurance Special Assessment without Vote of Members. Notwithstanding the foregoing, the Board may, without a vote of the members, levy an Insurance Special Assessment to pay any premium charged to the Association in excess of the amount budgeted for insurance, or levy an Insurance Special Assessment to pay, when due, any third- party financed premium. If applicable, an Insurance Special Assessment shall only be assessed against Owners of Units for which the Board separately assesses an Insurance Assessment based upon the type of Building in which a Unit is located, as further described in Section 4.2 above.
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