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200807402
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Last modified
8/26/2008 4:03:50 PM
Creation date
8/26/2008 4:03:49 PM
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DEEDS
Inst Number
200807402
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<br />200807402 <br /> <br />any such foreclosure or lawsuit to recover a money judgment, the Unit Owner shall <br />be required to pay the costs and expenses of such proceedings, the costs, expenses, <br />and attorneys' fees for filing the notice or claim oflien, and all reasonable attorneys' <br />fees in connection with such foreclosure or lawsuit. The Unit Owner shall also be <br />required to pay the Association the Assessments for the Unit during the period of <br />foreclosure and the Association shall be entitled to a receiver to collect such sums. <br />The Association, on behalf of the Owners, shall have the power to bid on the Unit at <br />foreclosure sale and to acquire and hold, lease, mortgage, and convey such Unit. In <br />any foreclosure of a lien for Assessments, the Association shall be entitled to the <br />appointment of a receiver for such Unit Owner. <br /> <br />24. Owner's Obligation for Payment of Assessments. All amounts assessed by the Board against <br />each Unit, whether as an expense, special, or penalty Assessment, shall be the personal and <br />individual debt of each Unit Owner thereof at the time the Assessment is made. Suit to <br />recover a money judgment for unpaid Assessments shall be maintainable without foreclosing <br />or waiving the lien securing, the same. No Unit Owner may exempt itself from liability for <br />the Unit Owner's contribution toward the expenses by a waiver of the use or enjoyment of <br />any of the Common Elements or Limited Common Elements or by abandonment of its Unit. <br /> <br />25. Sale of Unit: Liability for Expenses Upon Transfer of Unit. <br /> <br />a. Upon sale of a Unit, after the initial transfer from the Declarant, the Unit Owner shall <br />furnish to a purchaser before conveyance such information as set forth in ~76-884 of <br />the Act. <br /> <br />b. The grantee of a Unit, including a mortgagee with a superior lien as set out in Section <br />23 (Lien for Nonpayment of Assessments) herein who comes into possession of a <br />Unit pursuant to the remedies provided in its mortgage or becomes a Unit Owner <br />pursuant to foreclosure of its mortgage, or by the taking of a deed in lieu thereof, and <br />any purchaser at a foreclosure sale, shall not be liable to the Association for unpaid <br />assessments against the latter for the grantor's proportionate share of expenses up to <br />the time of the conveyance of a Unit, unless the grantee expressly assumes such <br />liability. Any such express assumption shall be without prejudice to the grantee's <br />and Association's rights to recover from the former Unit Owner the amounts paid by <br />the grantee therefor. Any uncollectible expenses or Assessments shall be deemed to <br />be expenses collectible from all of the Unit Owners, including the mortgagee, grantee <br />and their successors or assigns. The waiver of liability granted herein for the <br />payment of past due Assessments shall not apply to any Unit Owner who holds a <br />purchase money mortgage or land contract. <br /> <br />26. Signage. Each unit owner shall have the right to attach signage to his unit identifying the <br />address and name of the unit owner. Other reasonable signage shall be permitted by the Unit <br />Owners in form, substance and manner to be approved by the Board. All signage on the <br />Condominium must be consistent with the standards, restrictions and limitations established <br />by governmental agencies or departments having jurisdiction over the Condominium. <br /> <br />-14- <br />
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