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<br />Sectiol)'!!. A.ssessment Lien.
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<br />H any suite or garage Ow>1er shall failor' refuse to make any payment of an
<br />assessment when due,the amount thereof shall constitute a lien on the interest
<br />of the suite or garage owner in his suite or garage and the Administrators may
<br />record such lien in the Office of the Register of Deeds; whereupon, said lien
<br />shall be privileged over and prior to all liens and encumbrances except assessments,
<br />liens and charges for taxes past due and unpaid on the suite or garage and except
<br />prior duly recorded mortgage and lien instruments. Assessments delinquent mote than
<br />thirty (30) days after the due date shall bear interest at the highest legal
<br />rate from the due date until paid. The del inquency of one installment of an
<br />annual assessment shall cause all remaining installments, at the option of the
<br />Association, to immediately become due and payable. The Board of Administrators
<br />shall have the right and duty to attempt to recover such common charges; together
<br />with interest thereon, and the expenses of the proceeding, including attorney fees,
<br />in an action to recover the same brought against such suite or garage owner,
<br />or by forec losure of the lien on such suite or garage granted by Section 76-817 of
<br />the Condominium Act. In any action brought by the Board of Administrators to foreclose
<br />a lien on a unit because of unpaid assessments, the unit owner shall be required to
<br />pay a reasonable rental for the use of his unit, and the plaintiff in such foreclosure
<br />action shall be entitled to the appointment of a receiver to collect the same, The
<br />Board of Administrators, acting 00 behalf of all suite or garage owners, shall have
<br />power to purchase such suite or garage at the foreclosure sale, and to acquire,
<br />hold, lease, mortgage, vote the votes appurtenant to conveyor otherwise deal
<br />with the same, A suit to recover a money judgemenr for unpaid assessments shall be
<br />maintainable without foreclosing or waivin~ the lien securing the same.
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<br />Section 9. Statement of Unpaid Assessments.
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<br />Upon payment of a reasonable fee, not to exceed Fifty Dollars (SSO.OO), and
<br />upon the written reque$t of any owner, prosnective nurchaser or of any mortgagee
<br />of a condominium suite or garage, the Board of Administrators, or the Managing Agent
<br />shall issue a written statt:u,,,,,t setting torth the amount of the unpaid assessments,
<br />if any, with respect to the subject suite or garage, the amount of the current
<br />periodic assessment and the date that such assessment became due, any penalties due,
<br />and credit for advance payments or for prepaid items, which statement shall be conclusive
<br />upon the Association in favor of all persons who rely thereon in good faith.
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<br />?ection 10. Nonwaiver.
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<br />The omission or failure [.0 timely fix any assessments or deliver or mail a
<br />statement for any period shall \lot be deemed a walver, modification or a release
<br />of the owners from their obligation to pay the same.
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<br />ARTICLE VI. INSURANCE.
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<br />Section 1. Covera~e.
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<br />The Board of Administrators shall obtain and maintain, to the exten obtain-
<br />able, the following insurance: fire insurance with extended coverage, vandalism
<br />and malic ious mischief endorsements, insur ing the ent ire condominium improvements
<br />and any other property, whether or not a conunon element tinc luding all of the suites
<br />or garages, fixtures therein initially installed by the Developer but not including
<br />furniture, furnishings or other personal property supplied by or installed by owners)
<br />together with all sel,vice equipment contain"d therein in an amount equal to the full
<br />replacell!ent value, without deduction for depreci.ation, and which shall contain a
<br />. standard non-contributory mortgage clause in favor of each mortgagee of a condominium
<br />suite or garage which shall provide that the loss, if any, hereunder shall be payable
<br />to such ~ortgagee as its interest may appear, subject, however, to the loss
<br />~;Ylllenl: provisiou,s in fayor of the Board of Administrators hereinafter set forth in
<br />Seetioo lof Article l{; public liability insurance in such limits as the Board of
<br />Mlllinistratorll may from time to time determine, covering the Association, each
<br />me@er of th'lBoard, the Managing Agent, agents and employees of the Association
<br />aM. e41lh suite or gar"ge owner; and such additi.onal coverage as the Board of Ad-
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