04-18-2002 Regular Meeting and Public Hearing of the La Porte Planning and Zoning Commission

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. '. ARTICLE V CONVENANT FOR MAINTENANCE ASSESSMENTS , Section 1. Pu(poses of the Assessment. The assessment levied by the ~sociation shall be used exclusively for the ownership, iinprovement, operation and maintenance of the Common Areas and the Common Facilities located thereon in a manner consistent with other similar developments in Harris County, including, without limitation, (i) the payment of taxes assessed against the Common Areas 'and the Common Facilities, if any (ii) insurance relating to the Common Areas and Common Facilities, (iii) repair. replacement- and additions relating to the Common Areas and Common Facilit~~s, (iv) the cost oflabor, equipment, materials, services" management and supervision relating to the Common Areas and Common Facilities. Section 2. Assessments~ The third-party property manager (the "Property Manager") hired by the Association shall, on or before of each calender year, (i) fix and determine a bud$et representing the sums necessary and adequate for the continued operation of the Association during the next c~erider year, including,' without limitation, operational items such as insurance, repairs, reserves, maintenance and other operating expenses, as well as charges to cover any deficits from: prior years and capital improvements and reserves approved by the Association, all of which shall be specifically set out in' the budge, and (ii) send a copy of the budge to each Member, along with such Member's assessment for the succeeding calender year. The Association, through the Property Manager, shall have the right to supplement the annual budget and assess the Members therefor at any time. The total annual requirements, and any , supplemental requirements, shall be allocated between, assessed to, and paid by, each Member based upon the most recent available valuation of each Tract and Improvements thereon as assessed by the Harris County Appraisal District (or its Successor) or the Ci.ty of whichever assessment may be used by the Association, fo~.ad valorem tax purposes for the preceding year in relation to the value of all Tracts and Imprpvements within the Development (excluding the Common Areas)., The basis for the assessment shall be the same for each Tract. Unless otherwise set forth herein, an Association assess~ent shall be levied against all Members of the Association to cover the expense of the Association. In addition to the other assessments hereinabove provided, the Association may adopt a separate annual or special assessment for security and/or a special assessment for any other proper purpose. Any such special assessment shall be assessed against all Members in the same manner as set forth above. Section 3. Due Dates: Duties of the Property Manager. All assessments shall be payable quarterly, in advance, or o~ such other basis as is ordered by the Association. The Property Manager shall fix the date of commencement and the amount of the assessment against each Tract, and shall prepare a roster of the Tracts, and assessments applicable th~reto, which shall be kept in the office of the Property Manager and shall be open to inspection by any Member. Upon the written request of a Member or his inortgagee, the Property Manager shall promptly furnish such Member or his mortgagee with a written statement or the unpaid charges due from such _ statements, which charge shall be secured by the liens created or reserved under this Article. 6