MarkC3 (Indiana)
Posts: 43
Posts: 43
Posted:
I am the President of our HOA which is in Indiana. By state law, we can't fine owners who violate the CCR's. So, with that said, can someone explain to me what is meant by the following section in our CCR's. As you can see, there is a clause for Special assessment for convenant enforcement:
10. Assessments
A. - Creation of Lien and Personal Obligation of Assessments.
Each Owner of any lot in the Development, except the Declarant and the
builder, by acceptance of a deed therefore, whether or not it shall be
so expressed in such deed, is deemed to covenant and agree to pay to
the Association the following:
(i) One-Time assessment at closing by each home buyer,
including re-sales of homes;
(ii) Annual assessments or charges;
(iii) Special assessments for: covenant enforcement,
capital improvements and operation deficits, copies
of Association documents if requested by a member; .
such assessments to be established and collected as
hereinafter provided or established by the Board.
What does that special assessment for covenant enforcement mean?
Thanks
10. Assessments
A. - Creation of Lien and Personal Obligation of Assessments.
Each Owner of any lot in the Development, except the Declarant and the
builder, by acceptance of a deed therefore, whether or not it shall be
so expressed in such deed, is deemed to covenant and agree to pay to
the Association the following:
(i) One-Time assessment at closing by each home buyer,
including re-sales of homes;
(ii) Annual assessments or charges;
(iii) Special assessments for: covenant enforcement,
capital improvements and operation deficits, copies
of Association documents if requested by a member; .
such assessments to be established and collected as
hereinafter provided or established by the Board.
What does that special assessment for covenant enforcement mean?
Thanks