Specific Assessments definition
Examples of Specific Assessments in a sentence
The assessments by the Koa Ridge Owners Association shall include Base Assessments, and also may include Special Benefited Area Assessments, Special Assessments and Specific Assessments, as described in the Koa Ridge Covenants.
In addition, fines levied by the Board pursuant to Sections 3.10, 4.34, and 9.01 shall constitute Specific Assessments.
The Declarant shall not be subject to Specific Assessments without its consent.
Specific Assessments for special services may be levied in advance of the provision of the requested service.
When the use to be made of each amount assessed has been identified (which identification will, in the case of Specific Assessments, be effected prior to the end of the year to which the assessment relates), any portion thereof not required will be returned to the Members (including for the purpose of this paragraph, former Members) assessed in the same proportions as their relative contributions together with interest at the rate specified in paragraph 13 of this Schedule F.
The following property shall be exempt from payment of Base Assessments, Specific Assessments, Special Assessments, and Neighborhood Assessments.
Specific Assessments against a Member in a year will not exceed that Member’s Maximum Specific Assessment.
This provision does not affect the right to increase the amount of assessments or to levy Specific Assessments as provided by Article 8.
Each year the Board may make a Specific Assessment in an amount that together with future Specific Assessments will meet the Base Level by the Completion Date.
The Assessment Base set forth in this Schedule will be effective for all Specific Assessments, Loan Assessments and Administrative Assessments made on or after March 31, 2019, and for determining the number of votes of Members under paragraph 10.7 at any meeting of Members on or after that date.