ARTICLE XII - ASSESSMENTS

SECTION 1. Creation of the Lien and Personal Obligation of Assessments.

By the declaration each member is deemed to covenant and agree to pay to the association: (1) annual assessment or charges, and (2) special assessments for capital improvements. 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 interest, cost and reasonable attorney’s fee shall also be the personal obligation of the person who was the owner of such property at the time when the assessment fell due and shall not pass to his successors in title unless expressly assumed by them.

SECTION 2. Purpose of Assessments. The assessment levied by the association shall be exclusively for the purpose of promoting the rec­reation, health, safety, and welfare of the residents in the properties service and facilities devoted to this purpose and related to the use and enjoyment of the common area, and of the homes situated upon the properties.

SECTION 3. Basis and Maximum of Annual Assessments. Each lot shall be subject to an annual assessment of not more than $60.00. Provided, however, that this maximum amount may be adjusted proportionately by the board of directors anytime after January 1, 1972 based on the federally established consumer price index as of May 1971. The board of directors shall fix the annual assessment within the maximum amount, and may rise or lower said annual assessment amount within said maximum as they may deem necessary at their discretion.

a)     From and after January 1, 1972, the maximum annual assessment may be increased or decreased by the assent of two-thirds (2/3) of the votes of each class of members who are voting in person or by proxy at a meeting of the members, written notice of which setting forth the fact that the question of the change in assessment limit shall be considered, shall be sent to all members not less than 15 days nor more than 50 days in advance of the meeting.

SECTION 4. Special Assessment for Capital Improvements. In addition to the annual assessment authorized above, the association may levy in any fiscal year, a special assessment applicable to that year only, which may be collected on a monthly , quarterly or annual basis, for the purpose of defraying; in whole or in part, the cost of any construction or reconstruction, unexpected repair or replacement of a described capital improvement upon the common area, including the necessary fixtures and personal property related thereto, provided that any such assessment shall have the assent of two—thirds (2/3) of the votes of each class of members who are voting in person or by proxy at a meeting of the members written notice of which, setting forth the fact that the question of the imposition of a special assessment shall be sent to all members not less than 15 days nor more than 50 days in advance of the meeting.

SECTION 5. Uniform Rate. Both annual and special assessments must be fixed at a uniform rate for all classes of lots, provided that the rate set for the unimproved lots owned by the declarant, Rockrimmon Land Company, and any developers as defined in the articles of Incorporation shall be fixed at two-thirds (2/3) the assessment rate for the improved lots.

SECTION 6. Quorum for any Action Authorized Under Sections 3 & 4. At the first meeting called, as provided in Section 3 & 4 hereof, the presence at the meeting of members or of proxies entitled to cast sixty percent (60%) of all the votes of each class of membership shall constitute a quorum If the required quorum is not forthcoming at any meeting, another meeting may be called, subject to the notice requirement set forth in section 3 & 4 and the required quorum at any such subsequent  meeting shall be one-half (1/2) of the required quorum at the preceding meeting. No such sub­sequent meeting shall be held more than sixty (60) days following the preceding meeting.

SECTION 7. Date of Commencement of Annual Assessments Due Dates. The annual assessment provided for herein shall commence as to all lots on the first day of the month following the conveyance of the common properties. the board of Directors shall fix the amount of the annual assessment against each lot at least thirty (30) days in advance of said commencement date and any change in the annual assessment must be fixed by the board of directors at least thirty (30) days in advance of the commencement of the changed assessment amount. Written notice of the annual assessment and all changes thereto shall be sent to every owner subject thereto. the due dates shall be established by the board of directors. the association shall upon demand at any time furnish a certificate in writing, signed by an officer of the association, setting forth whether said annual assessments are current.  A reasonable charge may be made by the board for the issuance of these certificates. Such certificates shall be conclusive evidence of the facts stated therein.

SECTION 8. Effect of Non-Payment of Assessments Remedies of the Assoc. If the assessments are not paid on the date due, then such assessment shall become delinquent and shall, together with such interest thereon and cost of collection thereof as hereinafter provided, thereupon become a continuing lien on the property which shall bind such property in the hands of the then owner, his heirs, devisees, personal representatives and assigns. The personal obligation of the then owner to pay such assessment, however, shall remain his personal obligation for the statutory period and shall not pass to his successors in title unless expressly assumed by them.

The delinquent date, the assessment shall bear interest from the date of delinquency at the rate of six (6) percent per annum, and the association may bring an action at law against the owner personally obligated to pay the same or to foreclose the lien against the property and there shall be added to the amount of such assessment the cost of preparing and filing the complaint in such action, and in the event a judgment is obtained, such judgment shall include interest on the assessment as above provided and a reasonable attorney’s fee to be fixed by the court together with the cost of the action.

SECTION 9. Subordination of the Lien to Mortgages. The lien of the assessments provided for herein shall be subordinate to the lien of any trust deed or mortgage now or hereafter placed upon the properties sub­ject to assessment; provided however that such subordination shall apply only to the assessments which have become due and payable to a sale or transfer of such property pursuant to a decree of foreclosure, or any other proceeding in lieu of foreclosure. Such sale or transfer shall not relieve such property from liability for any assessments thereafter becoming due, or from the lien of any such subsequent assessment.

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Golden Hills Homeowners' Association
PO Box 49111
Colorado Springs, CO 80949
Telephone: 719-268-1021