201804258 - Laserfiche WebLink

Browse

ARTICLE V ARCHITECTURAL CONTROL ARTICLE VI PARTY WALLS 201 804258 Section 7. Due Dates. The Annual Assessment shall be effective as of January 1 of each year. Written notice of the Assessment shall be sent to every Owner subject thereto. The due dates for special Assessments shall be established by the Board of Directors, subject to approval of the Members as provided above. The Association shall, upon demand, and for a reasonable charge, furnish a certification signed by an Officer of the Association setting forth whether the Assessments on a specified Lot have been paid. Section 8. Remedies for Violations. Any Assessment not paid within thirty (30) days after the due date shall be assessed an additional $20.00 per month until paid in full. If three or more monthly installments of Assessment any Lot shall be unpaid, then the remaining installments of the Assessment for such fiscal year, at the option of the Board of Directors, shall become at once due and payable. It shall be lawful for the Association to enforce this Declaration in an action at law or equity against the Owner obligated to pay the same, or foreclose the lien against the property in the same manner as provided by law for foreclosure of mortgages. No Owner may waive or otherwise escape liability for the Assessments provided herein by non -use of the Common Area or abandonment of his Lot. The Association may create a schedule of fines for violation of Association rules and regulations or this Declaration which shall be treated and billed as a special Assessment to the offending Owner's Lot. Section 9. Subordination of the Lien to Mortgages and Release of Lien. The lien of the Assessments provided for herein shall be subordinate to the lien of any first mortgages or deed of trust, and any secured lender may rely on this provision without execution of any further subordination agreement by the Association. Sale or transfer of any Lot shall not affect the status or priority of the lien for Assessments made as provided herein. The Board of Directors of the Association may release the lien of past due Assessments on property as to which the first mortgage is in default if the Board determines that the lien has no value to the Association. No building, fence, wall or other structure shall be commenced, erected or maintained upon the Properties, nor shall any exterior addition to or change or alteration therein be made until the plans and specifications showing the nature, kind, shape, height, materials, exterior color scheme, and location of the same shall have been submitted to and approved in writing in order to preserve harmony of external design and location in relation to surrounding structures and topography by an Architectural Committee composed of three (3) or more representatives appointed by the Board, or by the Board of Directors of the Association (which shall perform the duties hereunder of the Architectural Committee if no Architectural Committee is appointed: In the event the Architectural Committee fails to approve or disapprove such design and location within thirty (30) days after said plans and specifications have been submitted to it, approval will not be required and this Article will be deemed to have been fully complied with. 7