Article 7: Utility Bills, Taxes and Insurance
Section 1: Obligations of Owners
- Each owner shall have his separate electric meter and shall pay directly at his own cost and expense for all electricity used or consumed by him.
- Each owner shall directly render for taxation his own townhome building plot and his improvements and property thereon, and shall at his own cost and expense directly pay all taxes, levied or assessed against or upon his townhome building plot, and his improvements thereon.
- Each owner shall be responsible at his own cost and expense for his own property insurance on the building and contents of his own residence, carport or garage, and his additions and improvements thereto, including decorations, furnishings and personal property therein, and his personal property stored elsewhere on the Property; and also for his personal liability not covered by liability insurance for all owners obtained as part of the common expense in connection with the common area.
Section 2: Obligation of the Association
- Utility meters of all kinds serving the common area shall be in the name of the Association and the Association shall pay, as a common expense of all owners, for all water, electricity and other utilities used in connection with the enjoyment and operation of the common area of any part thereof. In addition, the Association shall pay all charges for consumption of water, electricity and other utilities used in connection with the enjoyment and operation of the common area or any part thereof. In addition, the Association shall pay all charges for the consumption of water and for sewer services furnished to the entire Property including each and every townhome building plot.
- The Association shall render for taxation and as part of the common expenses of all owners, shall pay for all taxes levied or assessed against or upon the common area and the improvements and property appertaining thereto.
- The Association shall be obligated to obtain and continue in effect as a common expense of all owners, blanket property insurance to insure one hundred percent (100%) of the current replacement cost of the buildings and structures in the common area and the contents thereof, including but not limited to, any fixtures, equipment, or other property within the units, and the Association against the risks of loss or damage by fire and other hazards as are covered under standard extended coverage provisions, and said insurance shall include coverage against vandalism and may include such other coverage as the Association shall deem desirable. The above policy may not be cancelled without at least a ten (10) day prior written notice to the Association and each holder of a first lien mortgage. The Association shall obtain comprehensive public liability insurance in such limits as it shall deem desirable, insuring the Association, its Board of Directors, agents and employees and each owner from and against liability in connection with the common area.
- All costs, charges and premiums for all utility bills, taxes and insurance to be paid by the Association as herein provided shall be a common expense of all owners and shall be a part of the maintenance assessment.