Working Capital Fund

Our docs say:

Working Capital Fund. In additon to any other charge or lien as provided for herein, at the time of conveyance of each lot which is improved by a completed dwelling unit to a public purchaser, each such public purchaser shall pay the association a non-refundable contribution to the association's working capital fund in an amount equal to $250. This payment shall be in addition to and shall not be credited towards the general assessment due from each purchaser. The working capital fund shall be used by the Association in defraying its initial and ongoing operating expenses

So since it doesn't say we can only collect of the very first sale of the home (from builder to 1st owner) are we able to collect each time a unit is sold?

If we want to clarify something in our docs do we need an amendment? We aren't changing it just clarifying it.

Thanks for any input!!

I read it as:

"at the time of conveyance of each lot which is improved by a completed dwelling unit to a public purchaser"

which would mean one-time improvement to each lot.

Trying to pass this fee on to future purchasers of a completed dwelling would be a wrong interpretation, IMHO.

Expect a challenge.

PS - the board cannot assume power unless it is stated. Just because something is not expressed does not mean the board has the power to implement the unstated.