Maintenance Assessments. The Estimated Operating Budget contained in the Prospectus contains estimated expenses of operating the Condominium Association and other parts of the Building during the fiscal year identified and the Schedule of Estimated Maintenance Charges indicates each Unit's share of such Budget. The Budget is an estimate only of costs to be incurred in the future. It is subject to modification at any time and from time to time to reflect changes in estimated expenses. Buyer understands that such modifications shall not affect Buyer’s obligations to purchase in accordance with the terms of this Agreement nor Seller's obligation to honor any written guaranty of the budget undertaken by Seller. Buyer understands and agrees that because the Condominium and Master Associations are an on-going entities, the budgets of, and assessments payable to, the Associations may increase (based upon actual operating expenses and projections thereof), both before and after the closing under this Agreement.
Maintenance Assessments. Company will provide for the collection and deposit of all general and special assessments and any other appropriate charges/fees as they become due and payable or as otherwise directed by the Board.
Maintenance Assessments. The making and collection of assessments against unit owners for common expenses shall be done pursuant to the By-Laws and subject to the following provisions:
Maintenance Assessments. All Maintenance Assessments (as hereinafter defined) for years prior to the year of Closing and all penalties and interest thereon shall be paid by Seller. The Transferred Interest's Share of any unpaid Maintenance Assessments assessed against the Project for the year of Closing shall be prorated between Seller and Purchaser as of the Closing Date on the basis of the exact number of days each will own the Transferred Interest during the year of Closing. If the amount of such Maintenance Assessments is not known at the Closing, closing adjustments will be finally made on the basis of the amount of the most recent Maintenance Assessments. Purchaser shall have the right, in the name Seller or Purchaser, to contest or appeal any such Maintenance Assessment. The Transferred Interest's Share of any unpaid Maintenance Assessments for the year of it shall be paid by Purchaser, and Purchaser will assume the same at Closing. Purchaser shall be allowed as a credit against that portion of the Purchase Price payable in cash at the Closing, the amount so assumed. The owner of the Remaining Interest shall be liable for the Remaining Interest's Share of any unpaid Maintenance Assessments for the year of Closing. For the purposes hereof, "Maintenance Assessments" shall mean all amounts payable by Seller, as the owner of the Project, under any declaration, easement or other agreement for the maintenance, repair or use by the Project of any road, street sign, easement, utility (including any storm sewer or sanitary sewer) , common area or other area.
Maintenance Assessments. 12 Section 8.1 Creation of the Lien and Personal Obligation of Assessments.................................... 12 Section 8.2
Maintenance Assessments
