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202500472 Section 3. No Abatement of Assessments. Assessments for common expenses shall not be abated during any period of insurance adjustment, repairs, reconstruction, or remodeling, nor prior to the sale of any suite. As more fully provided in the Declaration, each member is obligated to pay to the Association annual and special assessments which are secured by a continuing lien upon the property against which the assessment is made. Any assessments, which are not paid when due, shall be delinquent. If the assessment is not paid within thirty (30) days after the due date, the assessment shall bear interest from the date of delinquency at the rate of ten percent (10%) per annum, and the Association may bring an action at law against the owner personally obligated to pay the same or foreclose the lien against the owner's lot, or both. The Association shall be entitled to collect reasonable attorney's fees, court costs, or other costs affiliated with the collection of delinquent assessments. No owner may waive or otherwise escape liability for the assessments provided for herein. ARTICLE VIII. FISCAL YEAR The fiscal year of the Association shall be determined by the Board of Directors. ARTICLE IX. INSURANCE Section 1. Coverage. The Board of Directors shall obtain and maintain, to the extent obtainable, the following insurance: Fire insurance with extended coverage, vandalism and malicious mischief endorsements, insuring the entire condominium building (but not including furniture, decoration, ornaments, furnishings or other personal property owned by the individual owner) together with all service equipment contained therein in an amount equal to the full replacement value, without deduction for depreciation The Board of Directors shall determine, at least annually, the replacement value of the condominium buildings and, in so doing, may employ such experts as the Board may deem necessary.