Bailey Acres HOA

ARTICLE VI
COVENANTS FOR MAINTENANCE ASSESSMENT


6.1 Creation of the Lien and Personal Obligations of Assessments. Each Owner of any Lot, by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay the Association (1) annual assessments for common expenses; (2) capital improvement assessments; (3) special assessments; and (4) reconstruction assessments; such assessments to be established by the Board of Trustees and voted upon by members as hereinafter provided. Such assessments, together with interest, costs and reasonable attorney’s fees for the collection thereof, shall be a charge on the land and shall be a continuing lien upon the property against which such assessment is made. Each such assessment, together with interest, costs and reasonable attorney’s fees, shall be a continuing lien upon the property against which such assessment is made. Each such assessment, together with interest, costs and reasonable attorneys fees, shall also be the personal obligation of the person who was the Owner of such property at the time when the assessment fell due. Subject to provisions of the Declaration protecting first mortgagees, the personal obligation of delinquent assessments shall pass to the successors in the interest of such Owner.

6.2
Damage to Common Area by Owner. The forgoing maintenance, repairs or replacement within the Common Area arising out of or caused by the willful or negligent act of the Owner, his/her family, guests or invitee, shall be done at said Owner’s expense of a Special Assessment therefor shall be made against his/her Lot; provided, however, that the liability of an individual Owner for such damage to the Common Area shall not be absolute, but shall only be that for which the owner is legally responsible under state law.

6.3
Uniform Rate of Assessment. Assessments, Capital Improvement Assessments and Reconstruction Assessments provided for in this Article must be fixed at a uniform rate for all Lots within the Properties; provided, however, that the Association may, subject to the provision of this Article, levy Special Assessments against selected Owners who have caused the Association to incur special expenses due to willful or negligent acts of said Owners, their guest or agents. All Assessments shall be collected on a regular basis by the Board of Trustees, at such frequency, as the Board of Trustees shall determine.

6.4
Date of Commencement of Assessments: Due Date. The annual assessment shall commence as established by the Board of Trustees. The first annual Assessment shall be adjusted according to the number of months remaining in the fiscal year as set forth in the By-Laws. The Board of Trustees shall fix the amount of the annual Assessment against each Lot at least thirty (30) days in advance of each Assessment period. A notice (electronic copy) of any change in the amount of the annual Assessment shall be sent to every Owner subject thereto, at least thirty (30) days prior to the effective date of such change. The due dates shall be established by the Board of Trustees. The Association shall, upon demand, and for a reasonable charge, furnish a certificate signed by an officer or agent of the Association setting forth whether the assessments on a specified Lot have been paid. A properly executed certificate of the Association as to the status of assessments against a Lot is binding upon the Association as of the date of its issuance.
The Board of Trustees shall cause to be prepared an annual balance sheet and operating statement reflecting income and expenditures of the Association for each fiscal year, including deposits in and withdrawals from any Bank Account, and shall cause to be distributed a copy of each such statement to each Member, and to each first mortgagee who has filed a request for copies of the same with the Board of Trustees, in the manner provided in the By-laws of the Association. At least sixty (60) days prior to the beginning of each fiscal year, the Board of Trustees shall prepare and distribute to the Membership of the Association, an itemized estimate (budget) of the expenses to be incurred by the Association during such year in performing its functions under this Declaration.

6.5
Exempt Property. The following property, subject to this Declaration, shall be exempt from the assessment herein:
(a) All properties dedicated to and accepted by a governmental entity; and
(b) The Common Areas