6.10    Work in Progress.  The Architectural Control Committee, at its option, may inspect all work in progress to ensure compliance with approved Plans and Specifications.

6.11    Certificate of Compliance.  Upon completion of any Improvement approved by the Architectural Control Committee and upon written request by the Owner of the Lot, the Architectural Control Committee shall issue a Certificate of Compliance in a form suitable for recordation.  The Certificate shall identify the Lot and the Improvements, the use or uses to be conducted thereon, and the Plans and Specifications on file with the Architectural Control Committee pursuant to which the Improvements were made and shall specify that the Improvements comply with the approved Plans and Specifications.  The Certificate shall not be construed to certify the acceptability, sufficiency or approval by the Architectural Control Committee of the actual consideration of the Improvements or of the workmanship or material thereof.

The Owner is hereby notified that the Certificate in no way warrants, except as set forth above, the sufficiency, acceptability or approval by the Architectural Control Committee of the construction workmanship, material and or equipment of the Improvements.  Preparation and recordation of such a Certificate shall be at the expense of the Owner of the improved Lot.

ARTICLE VII

FUNDS AND ASSESSMENTS

7.1       Assessments.

            (A)       Assessments established by the Board pursuant to the provisions of this Article VII shall be levied on a uniform basis against each Lot within the Property.

            (B)       Each unpaid Assessment together with such interest thereon and costs of collection thereof as hereinafter provided, shall be the personal obligation of the Owner of the Property against which the Assessment falls due, and shall become a lien against each such Lot and all Improvements thereon.  The Master Association may enforce payment of such assessments in accordance with the provisions of this Article.

            (C)       Where the obligation to pay an Assessment first arises after the commencement of the year or other period for which the Assessment was levied, the Assessment shall be prorated as of the date when said obligation first arose to the duration of the Assessment year or other period remaining after said date.

7.2       Maintenance Fund.  The Board shall establish a maintenance fund into which shall be deposited all monies paid the Master Association and from which disbursements shall be made in performing the functions of the Master Association under this Declaration.  The funds of the Master Association must be used solely for purposes authorized by this Declaration, as it may from time to time be amended.  Nothing contained herein shall limit, preclude or impair the establishment or other maintenance funds by a Subassociation pursuant to any Supplemental Declaration.

7.3       Regular Annual Assessments.  Prior to the beginning of each fiscal year, the Board shall estimate the expenses to be incurred by the Master Association during such year in performing its functions under the Calico Meadows Restrictions, including but not limited to, the cost of all maintenance, the cost of providing street lighting, the cost of enforcing the Calico Meadows Restrictions, and a reasonable provision for contingencies and appropriate replacement reserves less any excepted income and any surplus from the prior year’s fund.  Assessments sufficient to pay such estimated net expenses shall then be levied as herein provided, and the level of Assessment set by the Board shall be final and binding so long as it is made in good faith.  If the sums collected prove inadequate for any reason, including nonpayment of any individual Assessment, the Master Association may at any time, and from time to time, levy further Assessments in the same manner as aforesaid.  All such regular Assessments shall be due and payable to the Master Association at the beginning of the fiscal year or during the fiscal year in equal monthly installments on or before the first day of each month, or in such other manner as the Board may designate in its sole and absolute discretion.  In no event shall the regular Assessment per Lot for the year 2006 exceed the sum of $180.00.  Thereafter, the regular Assessment permitted hereunder shall not be increased by more than ten percent (10%) per year.