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DSCC-57520\2494968.2 17 September 17, 2021 6.3 Reserves. Each annual regular assessment may include, at the discretion of the Association, a portion for reserves in such amount as the Association in its discretion considers appropriate to meet the cost of the future repair, replacement or additions to the capital Improvements that the Association is obligated to maintain. Reserve funds shall be deposited in a separate account, if collected. 6.4 Special Assessments. The Association may levy a special assessment if it determines that the Association’s available funds are inadequate to meet estimated expenses due to unexpected repairs or replacements of capital Improvements or other unanticipated expenses. The Association may levy the entire special assessment immediately or levy it in installments over any period the Association considers appropriate. 6.5 Reimbursement Assessments. The Association shall have the authority to levy reimbursement assessments against Condominium Owners to reimburse the Association for any costs incurred or to be incurred by the Association as the result of any negligent or willful act or omission of any Owner or Occupant or their Permittees. The levy shall not include any portion that is paid or will be paid by any insurer under a policy maintained by the Association. Payment of the deductible amount shall be the responsibility of the Owner and is subject to a reimbursement assessment. If the reimbursement assessment is levied and paid before all or any portion of the costs have been incurred by the Association and the amount paid exceeds the costs incurred, the Association promptly shall refund the excess to the Owner. If the costs exceed the amount, the Owner shall reimburse the Association within thirty (30) days thereafter. If payment is not made when due, the payment shall be considered a delinquent assessment and the Association may enforce the delinquent assessment as described in Section 6.9. A monetary charge imposed by the Association as a means of reimbursing the Association for costs incurred by the Association in the repair of damage to Common Area or Improvements maintained by the Association caused by a Member, or the Member’s Occupants or Permittees may become a lien against the Member’s separate interest enforceable by sale of the interest under sections 2924, 2924b and 2924c of the Civil Code. A monetary penalty imposed by the Association as a disciplinary measure for failure of Members to comply with the Governing Documents may not be treated as a lien enforceable by sale under Civil Code sections 2924, 2924b and 2924c. 6.6 Commencement of Regular Assessments. Annual regular assessments shall commence for all Condominiums on the first day of the month after transfer of title to the DSCC Unit. 6.7 Due Dates of Assessments. The annual regular assessment shall be collected in twelve (12) monthly installments and each installment shall be due and payable on the first day of each month. Special assessments shall be due on such date or dates as selected by the Association. Reimbursement assessments shall be due and payable ten (10) days after the Owner receives the notice of the reimbursement assessment. The notice shall be deemed received on the date described in Section 12.13. Any annual regular assessment installment (including any accelerated installments), special assessment, or reimbursement assessment not paid within fifteen (15) days after the due date shall be delinquent, shall bear interest at the rate of twelve percent (12%) per annum from thirty (30) days after the due date until paid, and shall incur a late penalty in an amount to be set by the Association from time to time, not to exceed the maximum amount permitted by Applicable Laws. 6.8 Allocation of Regular and Special Assessments. Regular assessments levied by the Association shall be allocated in equal amounts between the Units. The Association may elect to have submeters installed to measure water uses by each Condominium, which would result in Association costs for domestic water to be allocated between the Condominiums based on the submeter readings. Unless submeters are installed, water and sewer costs shall be allocated pro rata based on each Unit’s square footage measurements as described in Exhibit C.