GRF definition
Examples of GRF in a sentence
The Qualifying Resident shall pay to the Mutual all Mutual Assessments and GRF Assessments (collectively referred to herein as “Assessment(s)” in full upon notice of such Assessment.
The GRF holds in trust, operates and maintains the Community facilities, streets and certain other off-site improvements and amenities within Leisure World for the benefit of the Qualifying Residents of the Mutual and other corporations owning and operating cooperative housing projects and condominiums located at Leisure World (“Mutuals”), and in connection therewith, provides certain services, including but not limited to, administrative and recreational services.
The Mutual shall provide Notice to the Qualifying Resident of any increase in any Assessment of the Mutual or GRF, not less than thirty (30) nor more than sixty (60) days prior to the increased Assessment becoming due.
The extent and nature of the facilities and services provided by the GRF, the charges therefore and the persons to whom the same should be made available shall be as determined from time to time pursuant to agreement among the Mutual, the GRF and the Mutuals.
Such GRF Amenities Fee and GRF Assessments shall be in addition to the monthly Regular Assessments and Mutual Assessments specified in Article 5 of this Agreement and in the Governing Documents.
A copy of the current schedule of the GRF Amenities Fee and GRF Assessments has been furnished to the Qualifying Resident.
The filing of the GRF shall be within twenty (20) days from the date of the occurrence of the event or when the grievant might reasonably have had knowledge thereof.
On termination of the contract, the value of any Accumulation Units and the value of any GRF Accounts, as adjusted for any market value adjustment, will be determined as of the Effective Date of the termination.
The Superintendent and grievant shall then complete sections A and B of Step II of the GRF stating the disposition of the grievance.
In the event a grievance has not been satisfactorily resolved at the first step, the grievant may submit the GRF to the Superintendent.