Special Assessments for Capital Improvements. In addition to the annual assessment authorized above, the Association may levy in any calendar year, a special assessment applicable to that year only for the purpose of defraying in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the common area, including fixtures and personal property related thereto, provided that any such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Board may levy, in any assessment year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Area for which the reserve account is inapplicable or inadequate, provided that any such assessment has the assent of 67 percent of the votes at a Legal Meeting.
Special Assessments for Capital Improvements. (i) In addition to the annual operating assessments, the Association may levy, in any fiscal year, special assessments to construct, reconstruct or replace capital improvements on or constituting a part of the Common Areas and/or personal property to the extent that reserves therefor are insufficient, provided that new capital improvements not replacing existing improvements shall not be constructed nor funds assessed therefor, if the cost thereof in any fiscal year would exceed an amount equal to five percent (5%) of that fiscal year’s budget, without the prior consent of Lot Owners exercising no less than seventy-five percent (75%) of the voting power of Lot Owners.
Special Assessments for Capital Improvements. In addition to the Assessments authorized above and the special assessment provided for in Article V, Section 4 hereof in the case of an appointed Director, the Association may levy, in anyAssessment Year, a Special Assessment applicable to that Assessment Year only, for the purpose of defraying in whole or in part, the costs of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Ground including fixtures and personal property related thereto, provided that Special Assessments shall be approved by a vote of Owners having at least two-thirds (2/3) of a quorum of the votes of the Association at a meeting at which a quorum is present.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy, in any assessment year, a special assessment to pay in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the Common Areas, including fixtures and personal property related thereto, road surfacing, and any common area improvements including but not limited to the creation of tennis courts and barbeque shelter previously approved by Xxxxxx County planning commission, provided that any such assessment shall have the assent of two-thirds (2/3) of the votes of each class of the Association members who are voting in person or by proxy at a meeting duly called for this purpose.
Special Assessments for Capital Improvements. (1) In addition to the annual operating assessments, the Board my levy, in any fiscal year, special assessments to construct, reconstruct or replace capital improvements within the Common Area to the extent that reserves therefore are insufficient, provided that new capital improvements not replacing or repairing existing improvements which cost over $2,500 shall not be constructed nor funds assessed therefore without the prior written consent of a majority of the Members. Capital improvements less than $2,500 shall be within the authority of the Board. Failure to pay any installment when due shall result in a surcharge of 25 percent of the installment so due and shall be re-levied on each anniversary date until paid.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy in any assessment year, a special assessment applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the Common Area, including the necessary fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3) of the votes of the members who are voting in person or in proxy at a meeting duly called for this purpose, written notice of which shall be sent to all members not less than ten days nor more than fifty days in advance of the meeting, setting forth the purpose of the meeting.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy, in any calendar year, a special assessment applicable to that year only for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair, or replacement of a capital improvement in the Subdivision. provided that any such assessment shall have the assent to two‐thirds (2/3) of the votes of each class of Owners who are voting in person or by proxy at a meeting duly called for this purpose at which a quorum is present. No Owner may waive or otherwise escape liability for the assessments provided for herein by abandonment of his lot or otherwise.
Special Assessments for Capital Improvements. In addition to Annual Assessments, the Association may levy, in any year, a Special Assessment applicable to that year for the purpose of defraying, in whole or in part, the cost of any new construction, or repair or replacement of an existing capital improvement in the Common Area, including fixtures and related personal property; provided that any such Special Assessment shall require the vote or written consent of 75% of each class of Members; and provided, further that no such Special Assessment for any such purpose shall be made if the Special Assessment in any way would (i) jeopardize or affect the Association’s ability to improve and maintain the Common Area, (ii) pay the Association’s share of the cost of maintaining any common impoundment basin, or (iii) pay or satisfy the Association’s other financial obligations.
Special Assessments for Capital Improvements. In addition to the annual assessments authorized above, the Association may levy against each owner, in any assessment year, a special assessment, applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of any improvement in or upon the Common Area(s) including Open Space Area(s) and other areas under the control of the Association, including without limiting the generality thereof, subdivision entrances, retention ponds, retention, detention areas, the Transitional Area, and Transitional Area, provided that such assessment shall have the assent of two thirds (2/3rds) of the votes of Owners who are then entitled to vote, voting in person or by proxy at a meeting duly called for that purpose.
