Common use of Association Assessments Clause in Contracts

Association Assessments. Current regular Association assessments and dues (Association Assessments) paid in 394 advance will be credited to ▇▇▇▇▇▇ at Closing. Cash reserves held out of the regular Association Assessments for deferred maintenance 395 by the Association will not be credited to ▇▇▇▇▇▇ except as may be otherwise provided by the Governing Documents. Buyer 396 acknowledges that Buyer may be obligated to pay the Association, at Closing, an amount for reserves or working capital. Any special 397 assessment assessed prior to Closing Date by the Association will be the obligation of Buyer Seller. Except however, any 398 special assessment by the Association for improvements that have been installed as of the date of ▇▇▇▇▇’s signature hereon, whether 399 assessed prior to or after Closing, will be the obligation of Seller. Seller represents there are no unpaid regular or special assessments 400 against the Property except the current regular assessments and as set forth in the CIC Documents. Association Assessments are 401 subject to change as provided in the Governing Documents.