ARTICLE V
Here is an alternative layout to help compare the current and proposed language.
ARTICLE V – Covenant for Assessments
1.CAPITAL ASSESSMENT
Current language: Section 13. Capital Fee. The Board of Directors shall be authorized to raise funds dedicated specifically to capital improvements through the levying of a capital fee. The fee will only be charged to non-Brandermill homeowners who purchase a Lot that is subject to this Declaration. A Brandermill homeowner who purchases and moves to another Residential Lot that is subject to this Declaration will not have to pay the fee referenced in this Section 13. The fee is equal to fifty percent (50%) of the annual assessment for that year. The fee will be paid by the purchaser at closing. For the purposes of this provision, a “Brandermill homeowner” is the Owner of a Lot that is subject to this Declaration.
Proposed language: Section 13. Capital Assessment. The Board of Directors shall be authorized to raise funds dedicated specifically to Capital Improvements, Capital Expenditures and Capital Components through the levying of a Capital Assessment. Revenue from this assessment shall be placed into a Capital Fund which in addition may be augmented by contributions from the Board of Directors as they deem appropriate. The Capital Assessment will only be charged to non-Brandermill Community Association homeowners who purchases a Unit that is subject to this Declaration. An Association Homeowner who purchases and moves to another Unit that is subject to this Declaration will NOT be required to pay the Capital Assessment referenced in this Section 13. The Capital Assessment is equal to 50% of the Residential Lot assessment for that year. The Capital Assessment will be paid by the purchaser at closing. The payment and collection of the Capital Assessment pursuant to the foregoing provisions shall be in accordance with the terms providing for payment and collection of Assessments in this Declaration and the Property Owners’ Association Act (Va. Code Ann. § 55.1-1800 et seq. (1950)) including without limitation the right reserved to the Board of Directors to accelerate payment of Assessments and the right to recovery of attorney’s fees and costs. Notwithstanding the above, this Section shall not apply to the transfer of any Unit which is being transferred to a lender upon foreclosure or deed in lieu of foreclosure, nor shall it apply to any conveyance for nominal consideration or that is not subject to the realty transfer tax.
Proposed language in summary: Section 13. The Board of Directors can charge a Capital Assessment to raise funds for capital improvements. This fee is only for new homeowners who purchase a unit within the community and is equal to 50% of the residential lot assessment for the year. The assessment is paid at closing. Existing homeowners who move to another unit won’t need to pay again. This fee does not apply to foreclosures or certain other transfers.
2. COMPLIANCE ASSESSMENT – The following proposed language is being ADDED. Please note: This language is new to the covenants; however, the processes, including any charges, fines, or assessments, are already established. This update merely serves to formalize our existing policies, rules, and regulations.
Proposed language: Section 14. Compliance Assessments. The Board of Directors shall have the authority to assess the Owner of a Unit individually:
(a) for the amount of any costs of cleanup and maintenance, repair, and replacement of or to the Common Properties due to the act, omission, negligence or carelessness of a Member;
(b) for the amount of any monetary charge assessed on that Member as provided in this Declaration; and,
(c) for any costs incurred by the Association for any violation or negligence for which the Member is responsible as provided herein.
(d) The amount of these charges and costs shall be equal to or less than as set in Section 55.1- 1819 of the Property Owners’ Association Act (Va. Code Ann. 55.1-1819 as amended (1950) will be for e violations as listed in subsections 7 (a-c) above as determined by Association staff, adjudicated by the Member comprised hearing panel and subject to appeal to the Association Board of Directors.
(e) Each such Assessment shall be due ten (10) days after notice thereof is given to the Member unless such notice specifies a later date.
Proposed language in summary: The Board of Directors can charge a property owner for costs related to cleanup, repair, or maintenance of common areas if the owner is responsible due to negligence or violations. These charges can also include any fines or costs related to violations. The charges will be in line with state law and can be appealed to the Board. Payments are due 10 days after the owner is notified, unless a later date is specified.
3. RECREATION CHARGE ASSESSMENTS – The following proposed language is being ADDED. Please note: The recreation charge assessment refers to our current amenity renewal process for locked storage, boating, Heritage Farms, the marina, and clubhouse rentals. The existing process remains unchanged; this language is simply being added to the covenants for clarification.
Proposed language: Section 15. Recreation Charge Assessments. The Board of Directors shall have the authority to assess a Recreation Charge Assessment for the private and preferential use of the limited availability recreational facilities, admission and other fees for the use or lease of recreational facilities and services on the Common Properties, and for all fees, reasonable charges and associated costs.
Proposed language in summary: The Board of Directors can charge a Recreation Fee for the private use of limited recreational facilities, as well as for admission, leasing, and other services related to the recreational facilities on the property. This fee also covers any associated costs.