5.03 Surety Deposit; Performance Deposits; Forfeiture of Deposits

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

The Board and/or the ARC may also require each Owner and/or the Owner’s contractor to post with the ARC surety deposits, performance deposits or other deposits in amounts and forms acceptable to the ARC as set forth in the Purchaser’s Handbook. The Board and/or the ARC shall have the authority to forfeit all or any part of any surety deposit, performance deposit or other deposit for any violations or noncompliance of the Purchaser’s Handbook or the Governing Documents.

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