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CC&R ARTICLE VI: COVENANT FOR MAINTENANCE ASSESSMENTS
Section 1.  Creation of Lien and Personal Obligation of Assessments for Benefit of Common Property. The Declarant, for each Lot owned within the properties, hereby covenants, and each owner of any Lot by acceptance of a deed therefore, whether or not it shall be so expressed to pay to the Association (1) monthly common property assessments or charges, and (2) special assessments for capital improvements upon common property, such assessments to be fixed, established, and collected from time to time as hereinafter provided, shall be a charge on the land, lots and dwelling units and shall be a continuing lien upon the property, lots and dwelling units against which each assessment is made. Each such assessment, together with such interest, costs, and reasonable attorney's fees shall also be the personal obligation of the person who was the Owner of such property at the time when the assessment fell due. The personal obligation shall not pass to his successors in title unless expressly assumed by them. However, the lien shall remain on the property, lots and dwelling units against which each such assessment is made.
 
Section 2. Purpose of Monthly Common Property Assessments. The monthly Common Property assessments levied by the Association shall be used exclusively for the purpose of prompting the recreation, health, safety, and welfare of all residents of Lake Meridian Village including without limitation, the construction, establishment, improvement, repair and maintenance of the Common Properties, and services and facilities related to the use and enjoyment of the Common Properties and of the homes situated upon the Properties.
 
Section 3. Basis and Maximum of Monthly Common Property Assessments. Until January 1 of the year immediately following the conveyances of Common Property assessment shall be per lot and its dwelling unit.
  1. From and after January 1 of the year immediately following the conveyance of the first Lot to an Owner other than Declarant, the maximum monthly Common Property assessment may be increased effective January 1 of each year without a vote of the membership in conformance with the ride, if any, of the Consumer Price Index (published by the U.S. Department of Labor, Washington, D.C.) for the proceeding month of July, by the action of the Board of Directors.

  2. From and after January 1 of the year immediately following the conveyance of the first Lot to an Owner, the minimum monthly Common Property assessment may be increased above that established by the Consumer Price Index formula by a vote of the members for the next succeeding three (3) years, for each succeeding period of three (3) years, provided that any such change shall have the assent of two-thirds (2/3) of the votes of each class of members who are voting in person or by proxy, at a meeting duly called for this purpose, written notice of which shall be sent to all members not less than 30 days nor more than 60 days in advance of the meeting setting forth the purpose of the meeting. The limitations hereof shall not apply to any change in the maximum and basis of the assessments undertaken as an incident to a merger or consolidation in which the Association is authorized to participate under its Articles of Incorporation or by law.

  3. After consideration of current maintenance costs and future needs of the Association, the Board of Directors may fix the actual assessment for any month as a lesser amount. 
Section 4.  Special Assessments for Capital Improvement Upon Common Property. In addition to the monthly assessments authorized above, the Association may levy in any assessment year, a special assessment applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the Common Property, including the necessary fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3) of the votes of each class of members who are voting in person or by proxy at a meeting duly called for this purpose, written notice of which shall be sent to all members not less than 30 days not more than 60 days in advance of the meeting setting forth the purpose of the meeting.
 
Section 5. Uniform Rate of Assessment. Both monthly and special Common Property assessments must be fixed at a uniform rate for all lots and the Dwelling Units thereon.
 
Section 6. Quorum For any Action Authorized Under Section 3 and 4. At the first meeting called, as provided in Sections 3 and 4 hereof, the presence at the meeting of members or of proxies entitled to cast sixty percent (60%) of all the votes of each class of membership shall constitute a quorum. If the required quorum is not forthcoming at any meeting, another meeting may be called, subject to the notice requirement set forth in Sections 3 and 4, and the required quorum at any such subsequent meeting shall be one-half (1/2) of the required quorum at the preceding meeting. No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.
 
Section 7. Date of Commencement of Monthly Assessments: Due Dates. The monthly assessments provided for herein shall commence on the date (which shall be the first day of the month) fixed by the Board of Directors of the Association to be the date of commencement and shall continue on the first day of each succeeding month thereafter.
 
The due date of any special assessment under Section 4 hereof shall be fixed in the Resolution authorizing such assessment.
 
The Board of Directors of the Association shall fix the date of commencement and the amount of assessment against each Lot for each Assessment period at least thirty (30) days in advance of such date or period and shall, at that time, prepare a roster of the properties and assessments applicable thereof which shall be kept in the office of the Association and shall be open to inspection by any Owner. Written Notice of the assessment shall upon demand at any time furnish to any Owner liable for said assessment a certificate in writing signed by an office of the Association, setting forth whether said assessment has been paid. Such certificate shall be conclusive evidence of payment of any assessment therein stated to have been paid. A reasonable charge may be made by the Board for the issuance of such certificates.
 
Section 8. Effect of Nonpayment of Assessments: Remedies of the Association. Any assessments which are not paid when due shall be delinquent. If the assessment is not paid within thirty (30) days after the due date, the assessment shall bear interest from the date of delinquency at the rate of ten percent (10%) per annum, and the Association may bring an action at law against the Owner personally obligated to pay the same, and/or foreclose the lien against the property, and interest, costs, and reasonable attorney's fees of any such action shall be added to the amount of such assessment. No Owner may waive or otherwise escape liability for the assessments provided for herein by non-use of the Common Property or abandonment of his Lot.
 
Section 9. Subordination of the Lien to Mortgages. The lien of the assessments provided for herein shall be subordinate to the lien of any mortgage or mortgages. Sale or transfer of any Lot shall not affect the assessment lien. However, the sale or transfer of any Lot which is subject to any mortgage, pursuant to a decree of foreclosure under such mortgage or any proceeding in lieu of foreclosure thereof, shall extinguish the lien of such assessments as to payments thereof which became due prior to such sale or transfer. No sale or transfer shall relieve such Lot from liability for any assessment thereafter becoming due or from the lien thereof, including proportionate liability for unpaid assessments on such Lot.
 
Section 10. Exempt Property. The following property subject to this Declaration shall be exempt from the assessments created herein: (a) all properties dedicated to and accepted by a local public authority; (b) the Common Property; and (c) all properties owned by a charitable or nonprofit organization exempt from taxation by the laws of the State of Washington. However, no land or improvements devoted to dwelling use shall be exempt from said assessments.