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Assessments maybe levied at any time bythe Master <br />.. � Neighborhood can beefi�d <br />e extent that the Neighborhood Assessments <br />Board; however, to at thesame <br />Association fiscalyear, they shall be levied <br />prior the start of the Master � among <br />ts, Neighborhood Assessments shall provide, <br />time as the General �se�nenreplacement <br />for an adequate reserve fund for the maintenance, repair and other things, � Building and other <br />any)of the Dwellings, Nonresidential Build <br />of those parts(ifmaintain,repair or replace. <br />is which the Master Association tion is obligated to <br />6.6 Asessent Prcedures The <br />Master Board shall annually r approve the overall <br />• <br />Master Association budget for the entire Property, including sub -budgets for assessments <br />or Parcels, and levy the assessment,or <br />allocated against only certain Neighborhoodsthe share <br />the Neighborhoods or Parcels. Owners shall pay applicable portion thereof, against <br />to their Parcels directly to the Master Association. <br />of the assessment allocated Parcels the <br />Assessment shall be automatically allocated among the <br />Neighborhood � Neighborhood Governing <br />based upon the allocation provided for in the <br />Neighborhood� Neighborhood. Assessments shall <br />without action bythe Board of Directors of the <br />Documents, terrn�ned the Master Board. <br />be payable ix� ir .a <br />ance; monthly, quarterly or annually, as d <br />eAssessments, The Owner of the Parcel at the time anAssessment <br />Liability6.7 forAsesxr� against the Parcel. As <br />liable for the share o <br />is aabie shall be the common expenses assessed <br />� � Master Declaration, the annexed <br />Estate or other propertyis subjected to this <br />Additional Realshall become subject to Assessments <br />' r� of the Additional Real Estate or other property Real <br />ort�o <br />to the Master Declaration annexing the Additional <br />on the recording of the amendmenta are multiple <br />` bilit shall be joint and several where Mier <br />Estate or other property. The liability is� exempt from <br />liability is absolute and unconditional. No person <br />Owners of Parcel. The � ' -ofuse or enjoyment of and <br />s ssments byright of set-off, bywaiver j <br />liabilityfor payment of Ael the waiver ofand other <br />absence from or, abandonment of the Pare <br />part ofthe Property, orits officers, directors or <br />reason of anyclaim against the Master Association <br />rights, or by e Master Governing Documents or <br />agents, for <br />their failure to fulfill any duties under <br />MIA. <br />6.8 Association shall have � lien on each Parcel for <br />rnent glen, The Master <br />Assess * the Parcel from the time the <br />assessment(orrorata share thereof) levied against*p.n� tallents, the full amount of the <br />becomes due. If an assessment is payable in u <br />assessment becomesdue. Fees, charges, late <br />is a lien from the time the first installment <br />assessment <br />y the Master Association pursuantto Section <br />515Bcharges, fines and interest� charges �rnpose ." 1 ow1 ,(11)and 1of MCIOA are liens, and are enforceable as assessments <br />notice <br />of the Master Declaration constitutes record <br />under this Section. Recording under this Section, and no further recordation of <br />notice of the lien is <br />perfctiand <br />on of and lien <br />required. <br />Fo <br />reclosure of Lien: Remedies. A lien for Common Expenses may be <br />foreclosed gainst a Parcel 1 by action, or(ii)by advertisement, as provided by Section <br />15 <br />12.111Crniva 820716 115/05 <br />