3(c) Conditional Use Permit "The Range" Resort Development LLC/Premier Homes

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Section. New or amended Rules and Regulations shall be effective only after reasonable notice has been given to the Owners. 5.7 Association Assets&Surplus Funds. All funds and real or personal property acquired by the Association shall be upheld and used for the benefit of the Owners for the purposes stated in the Governing Documents. Surplus funds remaining after payment of or provision for Common Expenses and reserves shall be credited against future assessments or added to reserves,as determined by the Board. Secfion 6 Assessments for Common Expenses 6.1 General• Assessments for Common Expenses shall be determined and assessed against the Units by the Board, in its discretion;subject to the limitations set forth in Sections 6.2 and 6.3,and � the requirements of the By-Laws. Assessments for Common Expenses shall include annual assessments and may include Special Assessments. Assessments shall be allocated among the Units according to the I Common Expense allocations set forth in Section 4.2,subject to the following qualifications: (a) Any Common Expense associated with the maintenance, repair,or replacement of a Limited Common Element undertaken by the Association may be assessed exclusively against the Unit or Units to which that Limited Common Element is assigned,on the basis of(i) equality, (ii)square footage of the area being '� maintained, repaired or replaced, or(iii)the actual cost incurred with respect to each Unit,as determined by the Board. (b) Any Common Expense or portion thereof benefiting fewer than all of the Units may be assessed exclusively against the Units benefited,on the basis of(i) equality, (iij square footage of the area being maintained, repaired or replaced,or(iii)the actual cost incurred with respect to each Unit,as determined by the Board. ' (c) The Costs of insurance may be assessed in proportion to value,risk or coverage. � (d) The costs of utilities may be assessed in proportion to usage. I (e) Reasonable attorneys fees and other costs incurred by the Association in connection i with(i)the collection of assessments, and/or(ii)the enforcement of the Governing , Documents,the Act,or the Rules and Regulations,against an Owner or Occupant or � their tenants or guests,may be assessed against the Owner's Unit. , (f) Fees,charges, late charges,fines and interest may be assessed as provided in j Section 515B.3-116(a)of the Act. I 9