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Association for that upcoming year. Master Annual Assessments shall provide, among other things, for contributions to a separate reserve fund sufficient to cover the periodic cost of maintenance, repair and replacement of the Common Elements for which the Master Association is responsible. Master Annual Assessments shall be payable in quarterly or annual installments, as determined by the Master Board. 6.3 Master Special Assessments.. In addition to Annual Assessments, and subject to the limitations set forth hereafter, the Master Board may levy in any Assessment year a Special Assessment for the purpose of defraying in whole or in part (i) the cost of any unforeseen or unbudgeted Common Expenses, (ii) maintenance, repair or replacement of improvements for which -the Master Association is responsible, and (iii) general or specific reserves for maintenance, repair or replacement. Any such Special Assessment shall be allocated based on the area of each Neighborhood Property or Nonresidential Unit relative to the area of all Neighborhood Properties and Nonresidential Units subject to this Declaration. 6.4 Special Allocations, In addition to Master Annual Assessments and Master. Special Assessments, the Master Board may, at its discretion, levy and allocate an assessment among only certain Units in accordance with the following requirements and procedures: 6,4.1 Except as otherwise expressly authorized by this Master Declaration, any Common Expense or portion thereof benefiting fewer than all of the Units may be assessed against only the Units benefited. 6.4,2 Assessments made pursuant to any such special allocation may be levied at any time by the Master Board; however, to the extent that such assessments can be -budgeted prior to the start of the Master Association fiscal year, they shall be levied at the same time as the Annual Assessments. 6.5 Nei hborhood Assessments,. In addition to General Assessments, Special Assessments and Limited Assessments, the Master Board may, at its discretion, levy and allocate Neighborhood Assessments among only certain Neighborhoods in accordance with the following requirements and procedures; 6.5.1 Except as otherwise expressly authorized by the Master Declaration, any Master Common Expense or portion thereof benefiting fewer than all of the Neighborhoods shall be assessed against only the Neighborhood or Neighborhoods benefited, 6.5.2 A Neighborhood Assessment shall be deemed to be automatically allocated among and levied against the Parcels located in the Neighborhood equally, or based upon such other common expense sharing formula as may be set forth in the Neighborhood Governing Documents for that Neighborhood. 14 i 21110757v8 820716 8/15/05