Bonnet Shores Beach Club Condominium Association, RI

Assessments

 

1)      Checks should be made out to the Bonnet Shores Beach Club Condominium Association.  Fees are due in full by the 1st day of June of each year or when prescribed by the Board.   A late fee will be levied for any assessment not paid by the 16th of June.   The late fee is 1-1/2% per month of the unpaid balance.   After three months, unpaid assessments, fees and fines become a lien against the property.   All fees, including, but not limited to, Annual Assessment, Restaurant Assessment, Electrical Fees, Charge Accounts, and any fines, must be paid before any membership passes will be issued

2)      In order to cover the cost of electrical usage, an additional yearly assessment shall be charged according to the following schedule:  $120 for each unit with an electrical panel; $42 for each receptacle in any unit without an electrical panel.  An additional yearly assessment of $450 shall be charged for each air conditioner in the unit.

3)      A contribution to Capital Reserve equal to 25% of the current year’s total assessment shall be due and payable to the condominium association at the time of purchase.  The transfer fee will constitute a lien against the unit in favor of the association until it is paid.

4)      Unit owners are liable for all appurtenant fees including, but not restricted to, any that may have been overlooked during the season’s initial processing.

 

Liability

 

1)      The Association maintains insurance on the common areas.  However, it does not cover any contents belonging to any condominium owner or tenant or any improvements or betterments installed by any condominium owner or tenant.   It is, therefore, incumbent upon all unit owners to provide their own content insurance as well as liability insurance.

2)      Owners agree to hold harmless the Board, the Association, and the Management and its individual members from any and all liabilities and actions of whatsoever nature by any owner, his family, guests or renters, resulting from the use of the pool area.

3)      All persons using the pool area do so at their own risk and sole responsibility. The Board, the Association, and the Management assume no responsibility for any accident or injury in connection with such use.  Persons using the pool agree with the Board, the Association, and the Management for and in consideration of no claim against the Board, the Association, or the Management for or on account of any loss of life, personal injury, or damage to or loss of personal property.

4)      The Board, the Association, and the Management assume no responsibility or liability for any damage to or loss of any property belonging to members, guests or renters and left inside or outside the unit or any other facility of the Club.

5)      The Board, the Association, and the Management assume no responsibility or liability for any boat or recreational equipment located on or about the premises.

6)      The Board, the Association, and the Management assume no responsibility or liability for any damage to or any loss of a vehicle belonging to a member or a guest parked on the Club property.

7)      Owners, members, renters and guests use the facilities with the understanding that they must comply with all rules and regulations promulgated by the state and local governments and by the Association.