Significant Arrears Rule

If any Unit Owner accrues a balance for unpaid Common Expenses and/or other
assessments (but excluding assessments for late fees, interest charges and legal fees) in an
amount that exceeds six (6) times the monthly Common Expenses payable by such Unit Owner,
the Board, upon fifteen (15) days prior written notice delivered in person to the Unit Owner or an
occupant of the Unit Owner’s Unit or posted on the front door of such Unit and sent by certified
mail to the Unit Owner, may revoke the privileges of such Unit Owner to park anywhere within
the Common Elements (as such term is defined in the By-laws) of the Condominium, including,
but not limited to, marked parking spaces. Such revocation shall apply to the Unit Owner, any
occupants of the Unit and to their respective family members and guests.
Upon the giving of such notice by the Board, or the Condominium’s property manager,
such Unit Owner shall have fifteen (15) days to make arrangements with the Board or the
Condominium’s property manager to pay sums, charges and/or assessments due and payable by
such Unit Owner on terms satisfactory to the Board. Upon such Unit Owner’s failure to make
such arrangements, the Board may enforce the foregoing revocation by booting or towing any
vehicle found to be in violation thereof, at such Unit Owner’s sole cost and expense.
Such revocation of parking privileges may, in the discretion of the Board, remain in place
until all sums, charges and/or assessments due and payable by such Unit Owner have been paid,
together with any fees and/or interest accrued thereon or arrangements for such payment have
been agreed upon by the Unit Owner and the Board.
The Board’s rights hereunder shall be in addition to, and not in lieu of, any other rights
and remedies available to the Board under the Condominium’s Declaration, By-laws and/or
Rules and Regulations.