Assessment and payment of common expenses
(1)Subject to subsection (2) of this section, the declarant of a planned community shall pay all common expenses of the planned community until the individual lots subject to assessment are assessed for common expenses as specified in the declaration pursuant to ORS 94.580 (Declaration) (2).
(2)If the declaration expressly authorizes deferment, the declarant may defer payment of accrued assessments for reserves required under ORS 94.595 (Reserve account for maintaining, repairing and replacing common property) for a lot subject to assessment until the date the lot is conveyed. However, the declarant may not defer payment of accrued assessments for reserves:
(a)Beyond the date of the turnover meeting provided for in the bylaws in accordance with ORS 94.635 (Association bylaws) (3); or
(b)If a turnover meeting is not held, the date the owners assume administrative control of the association.
(3)Failure of the declarant to deposit the balance due within 30 days after the due date constitutes a violation of ORS 94.777 (Compliance with bylaws and other restrictions required).
(4)The books and records of the association shall reflect the amount the declarant owes for all reserve account assessments.
(5)Intentionally left blank —Ed.
(a)Except for assessments under subsections (6), (7) and (8) of this section, the board of directors shall assess all common expenses against all the lots that are subject to assessment according to the allocations stated in the declaration.
(b)Any assessment or any installment of the assessment past due shall bear interest at the rate established by resolution of the board of directors.
(c)Nothing in this section prohibits the board from making compromises on overdue assessments if the compromise benefits the association.
(6)Unless otherwise provided in the declaration or bylaws, any common expense or any part of a common expense benefiting fewer than all of the lots may be assessed exclusively against the lots or units benefited.
(7)Unless otherwise provided in the declaration or bylaws, assessments to pay a judgment against the association may be made only against the lots in proportion to their common expense liabilities.
(8)If the board of directors determines that any loss or cost incurred by the homeowners association is the fault of one or more owners, the homeowners association may assess the loss or cost exclusively against the lots of the responsible owners.
(9)If the homeowners association reallocates common expense liabilities, any common expense assessment and any installment of the assessment not yet due shall be recalculated according to the reallocated common expense liabilities.
(10)Intentionally left blank —Ed.
(a)A lot owner may not claim exemption from liability for contribution toward the common expenses by waiving the use or enjoyment of any of the common property or by abandoning the owner’s lot.
(b)An owner may not claim to offset an assessment for failure of the association to perform the association’s obligations.
(11)Intentionally left blank —Ed.
(a)During any period of declarant control, any special assessment for capital improvements or additions must be approved by not less than 50 percent of the voting rights, or such greater percentage as may be specified in the declaration, without regard to any weighted right or special voting right in favor of the declarant.
(b)Nothing in this subsection is intended to prohibit a declarant from reserving a special declarant right to approve any such assessment. [1981 c.782 §43; 1999 c.677 §25; 2001 c.756 §21; 2003 c.569 §16; 2009 c.641 §15]
Section 94.704 — Assessment and payment of common expenses,