ADJOINING LOTS & PROPERTY ASSESSMENTS

It is the policy under the covenants in Potawatomi that property owners may adjoin up to four (4) connected lots as one for assessment purposes. (Article I, Section l(d)).

         A single annual assessment may be charged for adjoining lots designated as a single lot for assessment purposes. In the event that the owner(s) who obtain permission from the Association to designate lots as a single lot for assessment purposes later sells the lots separately rather than as a unit,the owner(s) shall become responsible to the Association for the assessments due on each lot sold during the period that the lot was treated as an individual lot for assessment purposes. Treatment of adjoining lots as a single for assessment purposes shall be permitted only by prior written authorization of the Association. (Article V, Section 3).

Lots are automatically split when sold and the new owners must request lots be joined and agree to the stipulation in Article V, Section 3.

The Association has one class of voting membership. Each member is entitled to one vote for each assessment paid. Assessments are due and payable on January 1st of each year. If an assessment is not paid by the first day of April of the applicable year,a penalty fee of $2.00 may be added thereto and from that date interest at the rate of six (6) percent per annum may be added to the delinquent balance and penalty.

If any assessment is not paid by the first day of April of the applicable year, the nonpaying member shall forfeit all rights to the Association until such time as assessments are current,including but not limited to,the right to vote at Association meetings,the right to serve on the board and.the right to use the Common Properties.

Property Joining Form