01287 (2)hereby covenants, and each Owner of any Lot by acceptance of a deed there-
fore, whether or not it shall be so expressed in any such deed.or other
conveyance, is deemed to covenant and agree to pay to -:the Association:
(a) annual assessments or charges, and (h) special assessments for capital
improvements, as hereinafter provided. The annual and special assessments,
together with such interest thereon and costs of collection thereof, as
hereinafter provided, shall be a charge on the land and shall be a continuing
lien upon the property against which each such assessment is made. Each such
assessment, together with such interest, costs and reasonable attorney's fees
shall also be the personal obligation of the person who was tale Owner of such
property at the time when the assessment fell due. The personal. obligation
shall not'pass to his successors in title.unless expressly assumed by them.
Section 2 Purpose of Assessments. The assessments levied by the
Association shall be used exclusively for the purpose of�promotiaD the
recreation, health, safety and welfare of the residents in the Properties and
nparticular for the improvement and maintenance o t cProperties, services
and facilit es�devoted'to this purpose and related to the use and enjoym ent
of the Common Area and of the homes situated upon the Properties.
Section 3. Maintenance Charges. The Board of Directors shall have the
right and power to subject the property situated in the plat or plats of
Shell Park, except the common areas, to an annual maintenance charge. .
Commencing September 1, 1976, the maximum annual assessment on all lots shall
be $24.00 per lot. On the same day of each year thereafter, each owner of
property in Shell -Park other than the developer -shall pay to the Association,
in advance, the maintenance charges against.his property, and such payments
shall be used by the Association'to create and continue a maintenance fund to
,be used by the Association as hereinafter stated. The charge will -be delinquent
when not paid within thirty (30) days after it becomes due. In the event that
an owner acquires title to property in Shell Park after the annual due date for
maintenance charge, then such owner shall be given a pro rata credit for the
annual maintenance charge from the due date to the.date on which such owner
acquires title, or becomes a contract purchaser.
The annual charge may be adjusted or reduced from year to year by the
Board of Directors as the needs of the property in its judgment may require,
but in no event shall the charge in any year exceed the sum of ten (10) mills
on the dollar of the 'assessed valuation of the premises and any improvements
constructed thereon, exclusive of personal property, as fixed each year by the
tax assessor of.Snohomisli County, Washington, for county taxation purposes.
Section 4. The Maintenance Fund May Be Used:
For lighting,,, improving „ -and maintainingx the streets and dedicated right
Of way,,?rgas maintained for the general use of the owners and occupants of
end included in S1�e11 Parlc;� ....._,......�,.. � �...,..,r...r....__...._..�
4,For operating and maintaining any storm water drains now or hereafter
�gaxuqted in such subdivision that are not or will not be under C��e erect
supervision of the state or county;
For em 1p oyinZ. policST.e and watchmen;
For establishing and maintaininS„.ny„dark or recreational facilities
on _ Che_, comT9_R_areas of Shell Par, ky and OFFICIAL RECOR
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