Condominium Resale Certificate - Williams & Williams

07:A2l MIG/jlf 2/4/84
made against that member's Unit based upon
the interest to be charged on delinquent
The assessment shall be deemed levied upon
such budget and of
payments thereof.
the giving of such
notice; provided, however, that the first budget after creation
of the Condominium shall be prepared and adopted by the first
Executive Board only for the balance of the then fiscal year
of the Association, shall be prepared and adopted as soon as
practicable after such creation, and notice of the amount of
the assessment against each Unit for
such balance of the
fiscal year shall be given by the Executive Board or
to each member as soon as
Declarant
practicable after adoption of such
assessment and shall be deemed levied upon notice thereof
given by the Executive Board or Declarant, and shall
provided in Section 8.5 hereof.
No capital improvement over Two Thousand
be due as
Five Rundred
Dollars ($2,500.00) or increase in the annual assessment by
the Executive Board in any one year of over
10% above the
previous years assessment plus the amount of any increased
Real Estate Tax assessment may be made without the consent of
at least sixty-seven (67) percent of the Units.
8.4 Assessment A Lien: Every assessment shall constitute
a lien upon each Unit assessed from the date the assessment is
levied prior to all other liens except only Ci) tax liens,
including special assessments, in favor of any taxing or
assessing authority, (ii) all sums unpaid on any First Mortgage
against the Unit, and (iii) liens and encumbrances recorded
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