84000586 - Laserfiche WebLink

Browse

.. ~,., ~ 0580 cr ~ ~----~, = t ~_~ of thirty~(30) days from the due date of an assessment, if said assessment remains unpaid, the Association may bring suit against t-I~e owner or owners of said suite for recovery of the same: If the assessment is a monthly installment of an annual assessment, the default in payment of one in- stallment when due, may, at the option of the Association, cause the remainder of the installments due for that annual period to become immediately due and payable. The defaulting suite owner shall be liable for the unpaid assessment or assessments, interest thereon from the due date to the date paid at the highest legal rate, and attorney fees end expenses incurred in the collection of the same. No proceeding to collect defaulted assessments pursuant to this Section shall constitute a waiver of the lien of the Association against said defaulting owner's suite nor a waiver of the right of the Association to foreclose thereon. The grantee of a suite shall be jointly and severally liable with the grantor for all unpaid assessments against the latter up to the time of the grantor conveyance, without prejudice to the grantee's right to recover from the grantor the amounts paid by the grantee therefor, provided, however, that upon payment of a reasonable fee and upon written request, any such prospective grantee shall be entitled to a statement from the Board of Administrators, or the Manager. in the form set forth in Section 9 of Article V, which shall be conclusive upon the Association in favor of all persons relying thereon in good faith. Unless such request for a statement of indebtedness shall be complied with within fil-teen {~,) days of such request, then such grantee shall not be liable tor, nor shall the condominium suite conveyed be subject to a lien for any unpaid assessments accruing prior to the date of such request. The provisions set forth in this Section shall not apply to the initial sales and conveyances of the condo- minium suites made by the Developer, and such sales shall be free from all assessments to the date of conveyance. Section 8. Assessment Lien. If any suite owner shall fail or refuse to make any payment of an assessment when due, the amount thereof shall constitute a lien on the interest of the suite owner in his suite and the Administrators may record such lien in the Offiee of the Register of Deeds; whereupon, said lien shall be privileged over and prior to all liens and encumbrances except assessments, liens and charges for taxes past due and unpaid on the suite and except prior duly recorded mortgage and lien instruments. Assessments delinquent more than thirty (30) days after the due date shall bear interest at the highest legal rate Prow the due date until paid. The delinquency of one installment of an annual assessment shall cause all remaining installments, at the option of the As- sociation, to immediately become due and payable. The Board of Administrators shall have the right and duty to attempt to recover such common charges, together with interest thereon, and the expenses of the proceeding, including attorney fees, in an action to recover the same brought against such suite owner, or by foreclosure of the lien on such suite granted by Section 76-817 of the Condominium Act. In any action brought by the Board of Administrators to foreclose a lien on a suite because of unpaid assessments, the suite owner shall be required to pay a reasonable rental far the use of his suite, and the plaintiff in such fore- closure action shall be entitled to the appointment of a receiver to collect the same. The Board of Administrators, -11-