OWNERS ASSOCIATION: ASSESSMENT LIENS
3.1. Organization of Association. The Association is or shall be incorporated under the name of Bel-Tane First Owners Association, Inc., as a nonprofit corporation under the Idaho Nonprofit corporation Act. ”
3.2 Duties and Powers. The duties and powers of the Association are those set forth in this Declaration, and in the Articles and Bylaws of the Association, together with its general and implied powers as a nonprofit corporation, generally to do any and all things that a nonprofit corporation organized under the laws of the State of Idaho may lawfully do, and which are necessary or proper in operating for the peace, health, comfort, safety and general welfare of its Members, Subject only to the limitations upon the exercise of such powers as are expressly set forth in this Declaration, the Articles and Bylaws.
Notwithstanding the generality of the above powers, the principal purpose of the Association shall be to provide for the operation and maintenance of the Common Areas and of the water system servicing the Project (and also the Project roadways to the extent not maintained by Bonner County or other governmental agency or municipality), and to enforce the terms of this Declaration, the Articles and the Bylaws of the Association pursuant to the discretion of the Board, and to perform any other function as may be delegated to the Association by the vote of two-thirds (2/3) of the voting power of the membership. Subject to the approval of the membership, where required, all actions of the Association shall be undertaken by the Board; provided however, that the Board shall have no power to incur indebtedness or to take any action requiring the expenditure of funds beyond those actually available or reasonably anticipated from the assessments described herein, without the vote of two-thirds (2/3) of the voting power of the membership.
3.3 Membership. The Owner of a Lot shall automatically upon becoming the owner of that Lot, be a Member of the Association, and shall remain a Member thereof until such a time as such ownership ceases for any reason, at which time such membership in the Association shall, automatically cease. Membership shall be in accordance with the Articles and the Bylaws of the Association.
3.4 Transfer of Membership. Membership in the Association shall not be transferred, pledged, or alienated in any way, except upon the transfer of ownership of the Lot to which it is appurtenant, and then only to the new Owner. Any attempt to make a prohibited transfer is void. In the event the Owner of any Lot should fail or refuse to transfer the membership registered in its name to the purchaser of its Lot, the Association shall have the right to record the transfer upon its books and thereupon the old membership outstanding and the name of the seller shall be null and void.
3.5 One Class of Membership; Voting Requirements. Association shall have one class of voting membership established according to the Articles. Voting requirements shall be as set forth in the Bylaws.
3.6 Membership Meetings. Regular and special meetings of Members of the Association shall be held with the frequency, at the time and place, and in accordance with the provisions of the Bylaws of the Association.
3.7 Board of Managers. The affairs of the Association shall be managed by a Board of Managers, which shall be established and which shall conduct regular and special meetings according to the provisions of the Bylaws of the Association.
3.8 Assessments. In order to provide for the operation and maintenance of the Common Areas and otherwise to perform its responsibilities under this Declaration, the Board shall have the power to levy and collect assessments against all Lots within the Property, All assessments, together with interest, costs, penalties, and actual attorney’s fees, shall be a charge and a continuing lien upon the Lot against which each assessment is made, the lien to become effective upon recordation of a notice of assessment lien by the Board. Each assessment, together with interest costs, penalties, and attorney’s fees, shall also be the personal obligation of the person who was the Owner or such Lot at the time when the assessment fell due. All Assessments shall bear interest at the prime rate charged by West One Bank (Main Branch, Coeur d’Alene), from time to time, plus two percent (2%), after the date such assessments or charges become payable. Such interest, as well as costs, including reasonable attorney’s fees if suit is necessary to collect such assessments, and reasonable penalties established by policy of the Board, shall be additional charges on the Lot.
The assessment lien shall be subordinate to the lien of any underlying real estate contract, first mortgage or first deed of trust. No sale or transfer of any Lot shall affect any lien hereunder which has already attached or which relates to an assessment Which has already become due, nor shall any sale or transfer relieve such Lot from liability from any assessments thereafter becoming due or from the lien thereof.
No Owner may waive or otherwise escape liability for the assessments provided for herein by nonuse of the Common Areas or by abandonment of his Lot.
Except as provided below, each Lot shall bear an equal share of all assessments, and assessment’s shall commence as to all Lots in the property immediately following closing of the sale of the first Lot to a member of the general public. Assessments shall be due on such date and, with such frequency as may be designated by the Board. The Board shall determine and fix the amount of the annual assessment against each Lot provided that the maximum assessment may not be increased by more than ten percent (10%) above the assessment for the immediately preceding fiscal year, without the vote or written assent of two thirds (2/3) of the voting power of the Association.
Notwithstanding the foregoing, Declarant shall be exempt, from assessment obligations, for so long as Declarant subsidizes all reasonable and ordinary operation and maintenance expense of the Common Areas, to the extent not coveted by assessments on Lots owned by persons other than Declarant.
Beltane Homeowners Association 