Acuerdo General de Sociedad - Complejo - General Partnership Agreement - Complex

• Category: Sociedades - General - Acciones - Arizona
• State: Multi-State
• Control #: US-61179
• Format: Word

Description

The parties desire to enter into a general partnership agreement. Simultaneously with the execution of this Agreement, each partner shall be obligated to contribute to the capital of the partnership, in cash or by good check, the sum set forth after such partners name in Exhibit A. No partner shall be required under any circumstances to contribute to the capital of the partnership any amount beyond that sum required pursuant to the Agreement.

Capital contribution for homeowners association refers to the financial commitment made by individual homeowners or property owners within a community, which is used for the maintenance, improvement, and development of common areas and shared facilities. This financial contribution is essential for the effective functioning and preservation of the entire homeowners' association (HOA). The capital contribution serves as a one-time payment or a recurring fee established by the HOA, mainly to cover the initial setup costs and ongoing expenses associated with community amenities, infrastructure, and services. It ensures that the HOA has sufficient funds to manage and enhance the common areas within the neighborhood. Now, let's explore different types of capital contributions that homeowners associations may have: 1. Initial Capital Contribution: This type of capital contribution is typically required when a homeowner purchases a property within an HOA-governed community. It is a one-time payment made at the time of closing or within a specified timeframe after the purchase. The purpose of an initial capital contribution is to establish a reserve fund or to cover any outstanding capital expenses necessary for the community's upkeep. 2. Monthly/Annual Capital Contribution: In addition to regular HOA fees, some associations may also implement a monthly or annual capital contribution specifically earmarked for capital projects or major repairs. This amount is determined by the HOA board and can vary based on the community's needs and the scale of planned improvements or maintenance. 3. Special Assessment: A special assessment is an unplanned and non-recurring capital contribution levied by the HOA to cover unexpected or extraordinary expenses, such as major repairs, legal fees, or emergency repairs. Special assessments are often imposed when the regular reserve funds are insufficient to cover the expenses, and the HOA needs additional funds from homeowners. 4. Voluntary Capital Contributions: Some homeowners associations may provide the option for homeowners to make voluntary capital contributions to support specific community projects or initiatives. This type of contribution is encouraged but not mandatory. It is crucial for homeowners to understand the purpose and significance of capital contribution in the context of a homeowners' association. These contributions ensure that the community's shared spaces, amenities, and services are adequately maintained and improved over time, enhancing property values and the overall homeowners' quality of life. Keywords: capital contribution, homeowners association, HOA, common areas, shared facilities, financial commitment, maintenance, improvement, development, community amenities, infrastructure, services, initial capital contribution, monthly contribution, annual contribution, special assessment, voluntary capital contributions, reserve fund, property values.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.