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~ Except as otherwise provided in the Declaration <br />Bylaws, each unit will be liable for the common ex <br />proportion to such unit's percentage ownership in tr <br />elements. <br />or these <br />pense in <br />e common <br />The annual assessment of units shall include the ~ollowing <br />items, which shall be common expenses: <br />Expense Items: <br />(a) Expenses of administration; <br />(b) Expenses of maintenance, repair or repla~ement of <br />the common elements; <br />(c) Any deficit in common expenses for a~y prior <br />period; ' <br />(d) Utilities for the common elements ald other <br />utilities with a common meter or commonl billed, <br />such as water, sewer, and electricity; <br />(e) The cost of any professional management, ~f any; <br />~. <br />(f) Legal, accounting and other professional ~ees; and <br />(g) Any other items properly chargeable as a~ expense <br />of the Association. ' <br />Reserve Items: ' <br />(a) Cost of insurance or bonds obtained in a~cordance <br />with these Bylaws; I, <br />(b) A reserve account for the purpose of ffecting <br />replacements of structural elements, m chanical <br />equipment and other common elements of the <br />Condominium which will normally require re lacement <br />in more than three (3) years and less th n thirty <br />(30) years. Payment into this account shall be <br />deemed a contribution to capital improveme t as and <br />when made. Pursuant to provision of t e Oregon <br />Condominium Act, the Declarant has esta lished a <br />reserve account for replacement of suc common <br />elements. <br />The Board of Directors shall prepare a sc <br />those common elements having a remainir <br />life of more than three (3) and less th~ <br />(30) years, together with the current re <br />cost of such common elements. The amoui <br />iedule of <br />g useful <br />n thirty <br />~lacement <br />t of the <br />~,+ BYLAWS OF COURTHOUSE SQUARE CONDOMINIUM <br />PAGE - 9 <br />