to do & see
2009 Capital Improvement Fees:
Improved Lot = $1,542.82
Un-Improved Lot = $434.01
“
CAPITAL IMPROVEMENT FEE
General Authorization.
A capital improvement
fee is assessed to each lot of the WLE community upon each resale or transfer
thereof, as follows:
For improved lots, the
fee shall be the full amount of the previous year’s common expense assessments
for such lots.
For unimproved lots, the
fee shall be one-half (1/2) of the full amount of the previous year’s common
expense assessments for such lots.
For this purpose, an
improved lot shall be considered one where structural improvements have
progressed to an extent that the house can be physically occupied, although is
not necessarily habitable or actually occupied.
Each year’s ‘common
expense assessments’ shall mean to include Annual Assessments and Special
Assessments as such terms are referred by Article III, Section 3 of the
Association’s bylaws.
The fee shall be
immediately due and payable by the buyer or transferee to the Association upon
such a transfer, and shall be a lien against the lot as other Association lot
assessments. If the buyers or transferees do not pay the fee, they shall be
liable with the sellers or transferors (jointly, severally, and otherwise) for
its payment as any other Association assessment or fee. For lot transfers
involving the Association, the Association, as seller/transferor or
buyer/transferee, shall not be liable for its payment; however this does not
relieve the other party of liability for the fee payment.
Maintenance & Use
Restriction.
Such fees collectively
will be maintained in a separate capital account and will be expended only for
new capital improvements or replacement of existing common elements, and will
not be expended for operation, maintenance or other purposes.
Exempt Transfers.
Such fees shall not be
imposed in the following instances:
Familial Transfer: Upon any gratuitous
transfer of a lot between any of the following family members: spouses, parent
and child, siblings, grandparent and grandchild. Documented proof and sworn affidavits of such
familial relationship and the acquisition interest of the transferee and other
information, as is acceptable to the Association, shall be provided to the
Association at the time of sale or transfer.
If a familial transfer
is less than the entire interest of the property, such that one other than a
non-exempt family member also acquires a fractional interest by the transfer,
then the transfer fee exemption shall be proportionate only to such familial
transfer. The fee required in such cases shall be proportionate to the extent
of the interest of the property transferred which is non-exempt.
Foreclosure Transfer: Upon transfers of lots to secured lending
institutions by foreclosure sale or in lieu of foreclosure.
Reconveyance Transfer: Upon the acquisition of an unimproved lot, as
long as the buyer/transferor has signed and delivered to the Association at the
time of such acquisition a sworn affidavit declaring the intention to reconvey
such lot within 18 months of its acquisition; and actually completes such
reconveyance within the 18 month period.
However, a fee shall nevertheless be due and payable upon such
non-exempt lot reconveyance transaction, which is and shall be treated as a
separate resale/transfer.
The lot ‘acquisition’
and ‘reconveyance’ shall be deemed to have occurred as of the date of the
purchase/sales agreement for each non-gratuitous transaction, which agreements
precede the delivery of the instrument or deed of title.
In the event the
reconveyance does not timely occur, then the fee shall be then due for the
transaction which the fee exemption was claimed, and payable with interest
thereon at the Association’s authorized rate from the lot acquisition
date.
Miscellaneous.
The grantor and grantee
of a lot for a voluntary conveyance, and the previous owner and the grantee in
an involuntary conveyance, including tax sales or judicial sales, shall be
jointly and severally liable for all such unpaid fees, interest thereon and all
costs of collection. The Association shall have all its rights and remedies to
assess late payment charges and interest and to enforce payment of and collect
all such fees and charges.
The Board of Directors
shall establish rules, procedures and forms for the implementation, effectuation,
compliance and enforcement of this lot transfer fee assessment resolution. To
the extent not explicitly stated hereby, this transfer fee authorization shall
be construed and applied consistent with §5302 (a)12 of the UPCA.
This fee shall be effective
as to transactions occurring on or after January 1, 2006.”