Conifer Ridge Subdivision; Washington County, Oregon Page 5

Declaration of Protective Covenants, Conditions and Restrictions August 31, 1994

 

 

5.03 Basis and Maximum of Assessments. Each Lot shall, as of the date of Section 7 hereof, be subject to a maximum assessment of not more than One Hundred Fifty dollars ($150.00) per Lot per year. The Board of Directors shall fix the regular assessment within the maximum amount and may raise or lower said assessment amounts within said maximum as they deem necessary in their discretion. Notwithstanding the above, the Association may change the maximum assessment, provided that such change shall have the assent of two-thirds (2/3) of the votes 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 at least thirty (30) days in advance and shall set forth the purpose of the meeting.

 

5.04 Special Assessments. In addition to the regular 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 costs of any construction, reconstruction, repair or replacement of a capital improvement upon the Common area, including fixtures and personal property related thereto, provided that any such assessment shall have the assent of two-thirds (2/3) of the vote of Members (subject to Article II, Section 2) who are voting in person or by proxy at a meeting duly called for this purpose, written notice of which shall be sent to an Members at least thirty (30) days in advance and shall set for the purpose of the meeting. In addition, the Board of Directors may levy a special assessment in the manner set forth in Article IX.

 

5.05 Uniform Rate of Assessment. Both the regular and any special assessments (except special assessments authorized by Article IX) must be fixed at a uniform rate for all Lots.

 

5.06 Quorum for any Action Authorized under Sections 3 and 4. The quorum required for any action authorized by Sections 3 and 4 hereof shall be as follows:

 

At the first meeting called, the presence at the meeting of Members, or of proxies, entitled to cast seventy-five percent (75%) of all the votes of membership shall constitute a quorum. If the required quorum. is not present, another meeting may be called, subject to the same notice requirements and the required quorum at such subsequent meeting shall be one-half (1/2) of the required quorum of the preceding meeting. No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.

 

5.07 Date of Commencement of Regular Assessments: Due Dates. The regular assessments provided for herein shall commence as to all lots on the first day of the month following the adoption of this Declaration. The Board of Directors shall fix the amount of the regular assessment as soon as practicable and any change in. the regular assessment levy must be fixed by the Board of Directors at least thirty (30) days in advance of the commencement of the changed assessment amount. Written notice of the