200500497 - Laserfiche WebLink

Browse

200500497 against the property in the same manner as provided by law for foreclosure of mortgages. No Owner may waive or otherwise escape liability for the assessments provided by non -use or abandonment of his Lot. Section 9. Subordination of h Lien to Mortgages and Release of Lien. The lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage and any first mortgagee may rely on this provision without execution of any further subordination agreement by the Association. Sale or transfer of a Lot shall not affect the status or priority of the lien for assessment made as provided herein. The Board of Directors of the Association may release the lien of past due assessments on property as to which the first mortgage is in default if the Board determines that the lien has no value to the Association. Section 10. Exempt Property. No lot shall be exempt from any assessments created herein. Section ],y No building, fence, wall or other structure shall be commenced, erected or maintained upon the Properties, nor shall any exterior addition to or change or alteration therein be made until the plans and specifications showing the nature, kind, shape, height, materials, exterior color scheme, and location of the same shall have been submitted to and approved in writing as to harmony of external design in location in relation to surrounding structures and topography by the Architectural and Landscape Committee, whose procedure and functions shall be governed by regulations as set forth in the By -laws. Section 1. General Rules of Law to Apply. Each wall built as a dividing wall between separate dwellings constructed upon the lots as part of the original construction of homes upon the properties shall constitute a party wall to be used by the adjoining land owners as such, notwithstanding the fact that the wall so constructed, through error in construction or settling of the wall, may not be located precisely on the dividing line between the Lots. To the extent not inconsistent with the provisions of this Article, the general rules of law regarding party walls