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<br /> Section 8. As`sessment Lieri:
<br /> if any unit owner shall fail or refuse to make any �payment of an
<br /> asse�sment when due, the"amount thereof sha11 constitizte .a lien on the interest
<br /> of the unit owner in his unit and the Administrators ma.y record such lien in the
<br /> Office of the Register of Deeds; whereupon, said lien shall be privileged over
<br /> and prior to all liens and encumbrances except assessments,� liens and cha-rges for
<br /> taxes past due and unpaid on the unit and except prior duly recorded .mortgage and +
<br /> lien instruments. Assessments delinquent more than thirty (30) days after the -
<br /> due date shall bear interest at the highest legal rate from the due ctate until
<br /> paid. The delinquency of one installment of an annual assessment shall cause all
<br /> remaining installmerits, at the option of the Association, to immediately become
<br /> . due and payable. The Board of Administrators shall h.ave the right and duty
<br /> to attempt to recover such common charges, together with interest thereon, and
<br /> the expenses of the �roceeding, including attorney fees, in an action to recover�
<br /> the same brought against such unit owner, or by foreclosure of` the lien on such
<br /> unit granted by Section 76-817 of the Condominium Act. In any action brought.
<br /> by the Board of Administrators to foreclose a lien on a unit because of unpaid
<br /> assessments, the unit owner shall be required to pay a reasonable rental for the
<br /> use of his unit, and the plaintiff in such foreclosure action shall be entitled
<br /> to the appointment of a receiver to collect the same. The Board of Administrators, ,
<br /> acting on behalf of all unit owners, shall have power to purchase such unit at
<br /> the foreclosure sale, and to acc{uire, hold, lease, mortgage, vote the votes
<br /> appurtenant to, convey or otherwise deal with the same. A suit to recove� a money
<br /> judgment for unpaid assessments shall be maintainable without foreclosing or
<br /> waiving the lien securing the same.
<br /> " Section 9. Statement of Unpaid Assessments. - .
<br /> Upon payment of a reasonable fee, not to exceed Seventy-Five Dollars
<br /> ($75.00) , and upon' the written request of any owner, prospective purchaser or
<br /> of any mortgagee of a condominium unit, the Board of Administrators, or the
<br /> Managing Agent, shall issue a.written s�atement setting forth the amount of the
<br /> unpaid assessments, if any, wi,'th respect to the subject unit, the amount of the
<br /> . current periodic assessment and the date that such assessment became due, any
<br /> , penalties due, and credit for advance payments or for prepaid items, which :
<br /> statement shall be conclusive upon the Association in favor of all persons who
<br /> rely thereon in good faith.
<br /> Section 10. Nonwaiver.
<br /> The omission or failure to timely fix any assessments or deliver or
<br /> mail a statement for any period shall not be deemed a waiver, modification or a
<br /> release of the owners from their obligation to pay the same.
<br /> ARTICLE VI. INSURANCE.
<br /> Section 1. Coverage.
<br /> The Board of Administrators shall obtain and maintain, to the extent
<br /> obtainable, the following insurance: fire insurance with extended coverage,
<br /> vandalism and malicious mischief endorsements, insuring the entire condominium
<br /> improvements and any other property, whether or not a common element (including
<br /> all of the units, fixtures therein initially in5talled by the Developer but not
<br /> including furniture, furnishings or other personal property supplied by or installed
<br /> ' by unit owners) together with all service equipment contained therein in an amount
<br /> equal to the full replacement value, without deduction for depreciation, and which
<br /> shall contain a standard non-contributory mo.rtgage clause in favor of each mortgagee
<br /> of a condominium unit which.shall provide that the loss, if any, hereunder shall '
<br /> be payable to such mortgagee as its interest may appear, subject, however; to the
<br /> loss payment provisions in favor of the Board of Adininistrators hereinafter set
<br /> forth in Section 1 of Article X; public liability insurance in such limits as the
<br /> Board of Administrators may from time to time determine, covering the Association,
<br /> each member of the Board, the Managing Agent, agents and employees of the
<br /> Association and each unit owner; and such additional coverage as the Board of
<br /> Administrators may from time to time determine is appropriate. Such public liability
<br /> coverage� shall also cover cross liability claims of one insured against the other.
<br /> � Dupl,icate originals of all policies of physical damage insurance and of
<br /> all renewals thereof, together with proof of payment of premiums, shall. be deiivered
<br /> to al'1 mortgagees of uriits at lease ten (10) days prior. to expiration of the then
<br /> current policies. The cost of such policies shall be a common expense.
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