HEATHER WALK CONDOMINIUM BY-LAWS
page B-8 ARTICLE VI FINANCES AND ASSESSMENTS
Section 4. Determination of Assessments.
(a) The Board of Directors of the Association shall fix and determine from time to time, the sum or sum necessary and adequate: for the
common expenses of the Condominium. Common expenses shall include expenses for the operation, maintenance, repair or
replacement of the common elements and the limited common elements, costs of carrying out the powers and duties of the
association, all insurance premiums and expenses relating thereto, including fire insurance and extended coverage, and any other
expenses designated as common expenses from time to time by the Board of Directors for the Association. The Board of Directors
specifically empowered, on behalf of the Association, to make and collect assessments and to lease, maintain, repair and replace the
common elements and limited common elements of the Condominium. Funds, for the payment of common expenses shall be
assessed against the unit owners in the proportions or percentages of sharing common expenses, as provided in the Declaration.
Said assessments shall be payable monthly in advance, and shall be due on the first day of each month in advance, unless otherwise
ordered by the Board of Directors. Special assessments, should such be required by the Board of Directors, shall be levied in the
same manner as hereinbefore provided for regular assessments, and shall be payable in the manner determined by the Board of
Directors. The foregoing powers and duties of the Association have been delegated to the Management Firm, as provided in the
Management Agreement attached to the Declaration of Condominium to which these By-Laws are attached. All funds due under these
By-Laws and the Management Agreement which are attached to the Declaration of Condominium to which these By-Laws are
attached, and said Declaration of Condominium, are common expenses of this Condominium.