5. HRSR 03-01-2010 - Laserfiche WebLink

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inclusion in other parts of the Governing Documents of authority to a pp r ove Rules shall be deemed to be in furtherance, and not in limitation, of the authority granted by this Section, Now or amended Pules shall be effective only after reasonable notice thereof has been given to the Owners, 5,7. Amociat 6n._,Assets,, Surplus Funds. All funds and real or personal property - acquired by the Association, shall be held and used for the benefit of the Owners for tho purposes stated in the Goveming Documents. Surplus funds remaining after payment of or provision for Common. Expenses and ' reserves shad be credited against future Assessments or added to reserves, as determined by the Board, 5.$, Resale Dis losure Certifzca es. Pursuant to Section 515B.4 -107 ofMCIOA., in the event of a resale bf a Unit by an-Owner other than a declarant, that Owner. shall Airnish to the purchaser a resale 'disclosure certificate containing the information' required by.. I Section. 515B.4- {107(b) of ' MCIOA. Pursuant to Section 515B.4-- 107(d) of MCIOA, the Association shall, within ton. days -after a request by an Owner or the Owner's authorized ` representative, furnish the resale disclosure certificate, The .Association may charge a reasonable fee for furnishing the resale d.isclo8tue certificate and .any documents related thereto. L SECTION 6 ASSESSMENTS 6.1. General. An annual budget shall be established for the Association and � Assessments 'shall be determined and assessed against the Units by the Board, in its disoretion; subject to the requirements and proeedures set forth in this Section. 6 and the requirements of the Bylaws, Assessments shall include all .Assessments levied by the Association under this Declaration and MC10A., including but not limited to Annual Assessments under, Section. 6.2, and may or shall (as hereinafter required) include special Assessments under. Section 6.3 and � limited Assessments under Section 6.4. Annual and special Assessments shall be allocated anon the Units in accordance with the allocation formula set foi th in Secti:bn 4.2. Limited g Assessments under Section 6A shall be allocated to Units as set forth in that Section. 6.2. Annual Assessments. Subject to Section. 6.1, annual Assessments shall be � established and levied annually by the Board, Each annual. Assessment shall cover 'll of the anticipated Common. Expenses of the Association for that year which are to be sbared by all � Units in accordance with the allocation formula set forth in Section 4.2. Annual Assessments . 1 monthly or quarterly if]stallmonts as established b the Board. Annual E shall be payable in equa y q �' � y . Assessments shall provide, among other things, for an adequate reserve fund for the replacement � of the Common Elements and those parts of the Units (if any) for which the Association is . ` limited Assessments pursuant to Section 6,4. responsible and which are not funded by l� . p � 6.3. Special Assessments, In addition to annual Assessments, the Board may levy in I any Assessment year a special Assessment against all Units in accordance with the allocation y �, p 4.2. Special Assessments shall be used for .the ose of formula referred 'to �n Section p p� 3 defraying in whole or in part the cost of any unforeseen and unbudgeted or underbudgeted , . Common. Expenses, � MPLS -word 2021 80.3 12