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<br /> _.ix f6) r,onth' int_Ew i;~ ~a:.sessmerats, credit sta,.ll be ciiven acaa..n ,t. said
<br /> anau~:l a ?ss E"rn -for thc~ amount of prepayment attributable to those
<br /> th; inMlueccr with the annual assessment per" od
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<br /> Section 4 ..iiC r
<br /> ia~r;('?~" ;l Interim t Assesc-srnz >r e-
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<br /> Interim, assessmcnt:s in the amounts ;c~wn in Section 3 of Article
<br /> V till ;rot be increased more than five percent `.5%) during the first
<br /> w'Par -D~7te, the f.i' ing o:' the Master Deed, arlt during E'aC i1 uLrCCr ~inQ year
<br /> t=r?r eafter, inter.i.--, assessments may not be increased more than ten percent.
<br /> rl;; ) a;save the le\,ol of the immediately preceding year.
<br /> eon Jne C.`i Gam.. a1JaE=ssmE?r-it:s
<br /> S-,eci:il usess.,r~ents may be assessed and levieE against oath
<br /> _ uitfy ct ''arace' in addition to the annual or interim a, -t Ss'ssments ou,ovlClf'd
<br /> or <i;?^'.''E r Cil1" in< any c3 i5kaamFnt year Cr the ptlrpCSe of dE'f raying, in
<br /> ~•'hol~'or in part. the cost of any construction, reconstruction, improve-
<br /> -nt, ren7air cr Ie )1cSi.ement o a caplt,-al irnp,.ovE?ment of the Comrnon E=lnillE?rt
<br /> inclu;jinc f ix*-urea. anci
<br /> )ersonal property, subject to the owner approval
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<br /> ~)rcvi.r,ir_-r:s of the 'Master Dees and these By-Laws. Where no provision is
<br /> applicable, the discretion of the Hoard of Administrators shall control.
<br /> Special assessments shall be due and payable thirty (30) days
<br /> after the assessment is levied against th(-,.! owners and notice thereof t:,as
<br /> t.)r,en grven, and special assessments not paid within thirty (30) days
<br /> shal.J. be treated according to the interest w
<br /> j and lien provi>i.;an;:
<br /> h(''reafter.
<br /> e.ct ion b. Escro.a of As s ents
<br /> The Administrators. of the Association may arrange to have all
<br /> assessments in Section 4 or. Section 5 of Article V paid to an escr©,'
<br /> fund to be held and managed !)y a bank or savings and loan ass;ociGatio::.
<br /> Section „ 7_._ YPersonal Assessment Liability.
<br /> Each suit% or garage owne=r or, if more than one, owners, jointly
<br /> and s(-.vercally, shall be personally liable for the payment of assessments.
<br /> under the preceding Suctions. Upon the expiration of thirty, (30) days
<br /> from the due crater of an assessment, if said assessmert: remains unpaid,
<br /> the Association may bring suit against the owner, or owners of said .suite
<br /> cr garage for recovery of the same. if assessment is a monthly
<br /> installment of an [annual assessments, this default in payment of one install-
<br /> ment when due, may, at the option of the 'Association, cause the remainder
<br /> of the installments due for that annual, period to become immediately due
<br /> and p ayr~Ule. 'T'he d(-faulting Suite or garage owner shall be liable `or
<br /> thc, unpaid ::i5se-. sment or assessments, interest thereon from the du- date
<br /> to the date paid at the highest legal rate, and attorney fees and ,expen-C. ,
<br /> incurred in the collection of the same. No proceeding to collect
<br /> :Aef.aulted assessments pursuant to this Section :.hall constitute a waZVCof the lien of the Association against sz,id defaulting owner's suitry or
<br /> r_lsarralre nor a waiver of the right of the Ar iodation to foreclose
<br /> ilE.'rE'CJi'l.
<br /> The grantee of a suite or garaclr shall be jointly and severally
<br /> lia"le with t.ho grantor for all unpaid assf,-s;ment:> again t the latt:.er urn
<br /> to the time of the grantor conveyance, w.itlaout prejudice to the grantee';-
<br /> right to recover from the cjrantor the amounts paid by the grantee there for;
<br /> provided, hoof- vr~r, , that upon payment of a reasonable fee and upon writ f' n
<br /> rF'quc'st, arny ,uc:!-1 i..)ro`ipective cjrantef-, shall be entitl,eO, to a statement
<br /> f rorr, the %--aard of Administrators, or the Nianager, in the form set forth
<br /> in Sect ion 9 of Article V, which shall bra conclusive upon the As>soc.iation
<br /> in f.:avor, of all per ons relying thereon in good faith. UIII r-..:s such
<br /> roquc'nt: for a st ntr:.ment of indebtedness shall be complied with within
<br /> fiA t;+,e r, (1.5) day: of such request, then such grantee shall. not be liable
<br /> for, nor shall the condominium smite or garage conveyed be sutajec.t to a
<br /> lien for any unpaid assessments accruing prior to the date of such request.
<br /> The set forth in t!,i , Section shall not apply to the
<br /> inif 1 :r7 ale and !:'(7I?ter?j<'an-,-Q:s of tr:e c'C)f;!iominium s-iites or garages made
<br /> ;.r cu: r
<br /> e )QT, nd suc-~i sa-'es shall be free from al-I assessments to
<br /> In e Z-. C
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