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82001413
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Last modified
3/10/2009 1:20:14 AM
Creation date
2/27/2009 7:38:23 PM
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DEEDS
Inst Number
82001413
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<br />82° s)t)1413 <br />such a plan upon termination of the C.ondomiaium Property <br />Regime pursuant to Section 1 of Article XI, or otherwise, <br />the Association shall have all the powers set forth in <br />Article X in dealing with a purchaser ar purchasers as <br />attorney-in-fact. <br />Section 11. Sale of Tawnho.='ne °- Default in Special Assessment <br />Under Article X. <br />The assessment provided for herein shall be a debt of <br />each owner and a lien on his condominium townhome and may ba <br />enforced and collected as is provided in Section 3 of <br />Article V. In addition thereto, the Association, as attorney- <br />in-fact, shall have the absolute right and power to sell the <br />condominium townhome of any owner refusing or failing to pay <br />such deficiency assessment within the time provided, and if <br />not so paid, the Associatior. shall cause to be recorded a <br />notice that the condominium townhome of the delinquent owner <br />shall be sold by she Association, as attorney-in-fact, <br />pursuant to the ;.provisions of this Section. The delinquent <br />owner shall be required to pay to the Association the costs <br />and expenses for filing the notices, interest at the. highest <br />legal rate on the amount of the assessment and all reasonable <br />attorney's fees. The proceeds derived from the sale of such <br />condominium townhome shall be used and disbursed by the As- <br />sociation, as attorney-in-fact, in the order set forth in <br />Section 12 of Article X. Any deficiency of funds to pay the <br />unpaid assessments shall remain the personal obligation of <br />the delinquent townhome owner. <br />Section 12. Application of Proceeds, <br />Proceeds received as set Earth in the preceding Sections <br />and as applicable to each townhome shall be used and disbursed <br />b}' the Association as attorney-in-fact, in the fallowing <br />order: <br />{a} Fr~r r,ayment ~~f taxes and special assessments, <br />liens i.n favor cif <3ny assessing entity and <br />the customary expense of sale; <br />{b) P'or payment <~ the balance of the lien <br />of any firs mortgage: <br />{c F"or payment cf unpaid assessments and <br />all cr,,sts: expenses and fees incurred ~y the <br />association; <br />{d~ For payment of junior, liens and encumbrances <br />in the order of and to the extent of their <br />priority; and <br />{e} The balance remaining, if any, shall be <br />paid to the condcrninium townhome owner. <br />Section i3. ~o Abate~•.ent of Assessments. <br />assessments far common expenses shall not be abated <br />during the period of insurance adjustment and repair and <br />reconstruction, remodeling or reconstruction, nor prior to <br />sale of any townhome for delinquent unpaid assessments. <br />Section 14. A~rovals. <br />f,s used in this article, the perrenta~3e voting re- <br />quireaa~ents of town?tome owners shall be based upon the <br />_ig_ <br />
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