Declaration - Assessment & common expenses

Article IV — Assessments and Common Expenses

This article explains how the Association funds its operations. Common expenses — including maintenance of Common Elements, insurance, reserves, utilities for shared areas, and management costs — are allocated among unit owners, typically based on each unit's percentage interest established in Article III.
It covers regular (monthly or annual) assessments as well as the Association's authority to levy special assessments for unexpected repairs or capital improvements. It also addresses the consequences of non-payment, which may include late fees, interest, and the Association's right to place a lien on a delinquent unit.