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RE~RECORDED . 200600814 200600669 4) Budget. The Board of Directors shall fix the amount of the annual Common Expense Assessments against each Suite at least annually. Adjustments to the budget may be made by the Board of Directors more frequently. 5) Special Assessments. In addition to the Common Expense Assessments authorized above, the Association may at any time, from time to time, determine, levy and assess Special Assessments for the purpose of defraying in whole or in part, payments for any construction reconstruction, repair, demolition, replacement or maintenance of the Common Elements or for Capital Improvements Any such Special Assessments made by the Board of Directors must be Approved by not less than two-thirds of the Members who are voting in person or by proxy at a meeting duly called for that purpose. The amounts determined, levied and assessed pursuant hereto shall be assessed proportionately against each Suite, in accordance with Article 4, Paragraph 2, Table of Allocations. ARTICLE 9. ASSOCIATION'S LIEN 1) Association Lien and Effect of Non-Payment of Assessments. The Assessments including all charges, fees, Fines, impositions, interest, costs, late charges, expenses and reasonable attorneys' fees which may arise under the provisions of this Declaration, also including any installment thereof (collectively" Assessments"), shall be burdens running with, and perpetual liens in favor of the Association upon the specific Suite to which such Assessments apply. Recording of this Declaration constitutes record notice and perfection of the Association's lien. Further recording of a claim of lien for Assessments is not required. Any Assessments provided for in this Declaration which are not fully paid within twenty (20) days after the due date thereof shall bear interest at the rate of fourteen percent (14%) per annum from the due date or a date established by the Association, and the Association may assess a late charge thereon which late charge shall also be subject to interest charges. In the event of default in which any Suite Owner does not make payment of any Assessments levied against the Suite Owner's Suite within thirty (30) days of the due date, the Board of Directors may declare all unpaid Assessments for the pertinent fiscal year immediately due and payable. The Association may bring an action at law or in equity or both against any Suite Owner personally obligated to pay such overdue Assessments, may foreclose its lien against such Suite Owner's Suite. An action at law or in equity by the Association against a Suite Owner to recover money judgment for unpaid Assessments may be commenced and pursued by the Association without foreclosing or in any way waiving the Association's lien therefore. If 11