Common use of Failure to Fix Assessments Clause in Contracts

Failure to Fix Assessments. The omission by the Board, before the expiration of any fiscal year, to fix the assessments hereunder for that fiscal year shall not be deemed a waiver or modification in any respect of the provisions of this Declaration or a release of any Unit Owner or lessee from the obligation to pay the assessments, or any installment thereof, for that or any subsequent year, but the assessment fixed for the preceding year shall continue until a new assessment is fixed.