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200010381 (D) The omission or failure to fix the assessment or deliver or mail a statement for any period shall not be deemed a waiver, modification, or release of the Owner from the Owner's obligations to pay the same. - (E) All assessments required herein not paid on or before ten (10) days after the date when due shall bear interest at the maximum rate established by law, unless otherwise determined by the Board of Directors, from the date when due until paid. All payments upon account shall be first applied to interest and then to the assessment payment first due. 18. Lien for Nonpayment of Assessments. (A) All sums assessed by the Association but unpaid by the Owner of any Condominium Unit, including interest thereon as provided herein, shall constitute a lien on such Condominium Unit superior (prior) to all other liens and encumbrances, except only for (i) liens and encumbrances recorded before the recordation of this Declaration, (ii) a Mortgage recorded before the date on which the assessment sought to be enforced became delinquent, and (iii) liens for real estate taxes and other governmental assessments or charges against the Unit. Each Owner hereby agrees that the Association's lien on a Condominium Unit for assessments shall be superior to any homestead exemption provided by any state or federal law and each Owner agrees that the acceptance of the deed or other instrument of conveyance in regard to any Condominium Unit within the Project shall signify such grantee's waiver of such homestead rights with respect to such lien. (B) To evidence such lien for unpaid assessments, the Association shall prepare a written notice setting forth the amount, the name of the Owner of the Condominium Unit, and a description of the Condominium Unit. Such notice shall be signed on behalf of the Association by an officer of the Association and shall be recorded in the records of the Register of Deeds of the County. Such lien shall attach from the date of the failure of payment of the assessment, and may be enforced by foreclosure by the Association of the defaulting Owner's Condominium Unit in like manner as mortgages on real property, but the Association shall give reasonable prior notice of its action to all lienholders of the Unit whose interest would be affected. The lien provided herein shall be in favor of the Association and for the benefit of all of the Owners. In any such foreclosure or lawsuit to recover a money judgment, the Owner shall be required to pay the costs and expenses of such proceedings, the costs, expenses, and attorneys' fees for filing the notice or claim of lien, and all reasonable attorneys' fees in connection with such foreclosure or lawsuit. The Owner shall also be required to pay the Association the assessments for the Condominium Unit during the period of foreclosure and the Association shall be entitled to a receiver to collect such sums. The Association, on behalf of the Owners, shall have the power to bid on the Condominium Unit at foreclosure sale and to acquire and hold, lease, mortgage, and convey such Condominium Unit. In any foreclosure of a lien for assessments, the Association shall be entitled to the appointment of a receiver. -11 -