|According to Section 6.3 of the Covenants, Conditions, and Restrictions, at least thirty (30) days before the end of the year, the Board shall prepare a budget for the coming year to cover the estimated expenses for the Association. The annual assessment for the next year shall be applied equally to each homeowner. It will be set at a level to reasonably provide the income equal to the budgeted expenses, including reserves, of the Association.
The notice of the annual assessment must be delivered at least thirty (30) days before the effective date of the assessment. The assessment notices are mailed on or before December 1st and are effective and due on January 1st. Assessments are considered delinquent if not paid in full by the 31st day of January.