HOMEOWNERS' ASSOCIATION OF VILLAGE GREEN, INC.   

By-laws of Homeowners' Association of Village Green Inc.   

ARTICLE Xl


ASSESSMENTS



As more fully provided in the Declaration, each member is obligated to pay the Association annual and special assessments that are secured by a continuing lien upon the property against which the assessment is made.  Any assessments not paid when due shall be delinquent.  If the assessment is not paid within thirty (30) days after the due date, the assessment may bear interest from the date of delinquency at the rate of 10 percent per annum, and the Association may bring an action at law against the Owner personally obligated to pay the same of 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 waiver or otherwise avoid liability for the assessments provided for herein by nonuse of the Common Area or abandonment of his lot.  



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Declaration of Covenants, Restrictions, and Servitudes for Village Green 


ARTICLE lV


COVENANT FOR MAINTENANCE ASSESSMENTS



4.2  Purpose of Assessment.  The assessments levied by the Association shall be used exclusively for the purpose of promoting the recreation, health, safety, and welfare of the residents of the Properties related to the use and enjoyment of the Common Properties, including but not limited to, the payment of taxes and insurance thereon and repair, replacement and additions thereto, and for the cost of labor, equipment, materials, management, and supervision thereof.


It is specifically acknowledged that the Association is responsible for the maintenance of the private street and the lighting of the private street.  In addition thereof access to all Lots and the streets within Village Green shall be controlled by an electronically controlled gate system at the entrance to the development.  Accordingly, assessments levied by the Association shall include the maintenance of the streets and street lighting.



4.3 Basis and Present Annual Assessment.  An annual assessment fee of Three Hundred Seventy-Five Dollars ($375.00) will be required of each class "A" Property Owner, with the first year's fee to be paid at the Act of Sale.