4.04 Annual Assessment

FCHOA Declaration of Protective Covenants - Revision Date: 2022-05-20

The amount of Annual Assessments shall be based on the annual budget adopted by the Board pursuant to the Bylaws. In the event that an annual budget is not adopted or if it is disapproved by the Members as set forth in the Bylaws, the prior year’s Annual Assessment shall continue for the current year’s Annual Assessment until such time as the annual budget is adopted.