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202300159
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Last modified
1/11/2023 1:50:16 PM
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1/11/2023 1:49:24 PM
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DEEDS
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202300159
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202300159 <br />Directors must be Approved by all of the Members who are voting in person <br />or by proxy at a meeting duly called for that purpose. Unless otherwise agreed <br />by the Unit Owners, the amounts determined, levied and assessed pursuant <br />hereto shall be assessed proportionately against each Unit, in accordance with <br />Article 4, Paragraph 2, Table of Allocations. <br />ARTICLE 9. ASSOCIATION'S LIEN <br />1) Association Lien and Effect of Non -Payment of Assessments. The Assessments <br />including all charges, fees, fines, impositions, interest, costs, late charges, <br />expenses and reasonable attorneys' fees which may arise under the provisions <br />of this Declaration, also including any installment thereof (collectively <br />"Assessments"), shall be burdens running with, and perpetual liens in favor of <br />the Association upon the specific Unit to which such Assessments apply. <br />Recording of this Declaration constitutes record notice and perfection of the <br />Association's lien. Further recording of a claim of lien for Assessments is not <br />required. Any Assessments provided for in this Declaration which are not <br />fully paid within twenty (20) days after the due date thereof shall bear interest <br />at the rate of ten percent (10%) per annum from the due date or a date <br />established by the Association, and the Association may assess a late charge <br />thereon which late charge shall also be subject to interest charges. In the event <br />of default in which any Unit Owner does not make payment of any <br />Assessments levied against the Unit Owner's Unit within thirty (30) days of the <br />due date, the Board of Directors may declare all unpaid Assessments for the <br />pertinent fiscal year immediately due and payable. <br />The Association may bring an action at law or in equity or both against any <br />Unit Owner personally obligated to pay such overdue Assessments, may <br />foreclose its lien against such Unit Owner's Unit. An action at law or in equity <br />by the Association against a Unit Owner to recover money judgment for <br />unpaid Assessments may be commenced and pursued by the Association <br />without foreclosing or in any way waiving the Association's lien therefore. If <br />any such Assessments are not fully paid when due and the Association <br />commences such action (or counterclaims or cross claims for such relief in any <br />action) against any Unit Owner personally obligated to pay the same, or <br />proceeds to foreclose its lien against the particular Unit, then all unpaid <br />Assessments, and any and all late charges and accrued interest under this <br />Section, the Association's costs, expenses and reasonable attorneys' fees <br />incurred in preparing and recording any lien notice, and the Association's costs <br />of suit, expenses and reasonable attorneys' fees incurred for any such action <br />and/ or foreclosure proceedings shall be taxed by the court as a part of the cost <br />of any such action or foreclosure proceeding and shall be recoverable by the <br />Association from any Unit Owner personally obligated to pay the same and <br />from the proceeds of the foreclosure sale of such Unit Owner's Unit. <br />Foreclosure, attempted foreclosure, or failure to foreclose by the Association of <br />its lien shall not be deemed to estop or otherwise preclude the Association from <br />thereafter again foreclosing or attempting to foreclose its lien for any <br />subsequent Assessments not fully paid when due. <br />2) Priority of Liens. A lien under this Section is prior to all other liens and <br />encumbrances on a Unit except: (a) liens and encumbrances recorded before <br />the recordation of this Declaration: (b) a first Security Interest on the Unit <br />recorded before the date on which the Assessments sought to be enforced <br />became delinquent; and (c) liens for real estate taxes and other governmental <br />assessments or charges against the Unit. <br />9 <br />
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