202500407 - Laserfiche WebLink

Browse

202500407 Nebraska, where upon said lien in the office of the privileged over and prior to all liens and encumbrances except assessments, assessment liens and charges for taxes past due and unpaid on a Suite except prior duly recorded mortgage and lien instruments. Said amount shall immediately bear interest at the highest legal rate from the payment of said amount by the Association until paid by the Suite owner. The Board of Directors shall have the right and duty to attempt to recover such common charges together with interest thereon and the expenses of proceeding, including attorney's fees. In an action to recover the same brought against such Suite owner or by foreclosure of the lien on such unit granted by Section 76-874 of the Nebraska Condominium Act. The Board of Directors, action on behalf of all Suite owners, shall have power to purchase such unit at the foreclosure sale and to acquire, hold, lease, mortgage, vote the votes appurtenant to convey or otherwise deal with the same. A suit to recover a money judgment for unpaid premiums shall be maintainable without foreclosing or waiving the lien securing the same. Article VIII, Section 6 shall be amended in its entirety to provide: Not later than each March 1st, the Board of Directors shall adopt a proposed budget for the twelve (12) month period beginning on the following May 1 and ending on April 30 of the next year. The budget shall include provision for expected operating expenses for the year and such other items of anticipated expense and reserves as the Board of Directors may deem reasonably necessary. The budget shall state the amount of the annual assessment for each suite for the ensuing year, which may or may not be the same amount for each suite because the expenses required to be assessed to each suite