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<br />80-- C3C}~~~~
<br />Section 8. Assessment Lien.
<br />Zf any suite or garaoe owner shall fail or refuse to mates any
<br />payment of an assessment when due, the amount thereof shall constitute
<br />a lien on the interest of the suite or garage owner in his suite or
<br />garage and the Administrators may record such lien in the Llffice of thr~
<br />Re ister of Deeds; whereu on, said lien shai2 be g ~`~~
<br />g p privile ed over and r: •,
<br />prior to all liens and encumbrances except assessments, li-ens and charcje§! ,
<br />for taxes past due and unpaid on the suite or garage and except prioe
<br />duly recorded mortgage and lien instruments. Assessments delsnquent more+!'j
<br />than thirty (30l days after the due date shall bear interest at the
<br />highest legal rate from the due date until paid. The delinquency of one
<br />installment of an annual assessment shall cause all remaining install-
<br />ments, at the option of the Association, to immediately become due and.
<br />payable. The Board of Administrators shall have the right and duty to
<br />attempt to recover such common charges, together with interest thereon,
<br />and the expenses of the proceeding,. including attorney fees, in an
<br />action to recover the same brought against such suite or garage owner,
<br />or by foreclosure of the lien on such suite or garage granted by Section
<br />?£-u11 of the Coidami~ilum Act. Zn any actior•I [,[ougi',t by the Board of
<br />Administrators to foreclose a lien on a suite ar garage because of
<br />unpaid assessments, the suite or garage owner shall be required to pay a
<br />reasonable rental fnr the use of his suite or garage, and the plaintiff
<br />an such foreclosure action shall be entitled to the appointment of a
<br />receiver to collect the same. The Board of Administrators, acting an
<br />behalf of all suite or garage owners, shall have power to parchase such
<br />suite or garage at the foreclosure sale, and tea acquire, hold, lease,
<br />mortgage, vote the votes appurtenant to, convey or otherwise deal with
<br />the same. A suit to recover a money judgment for unpaid assessments
<br />shall be maintainable without foreclosing or waiving the lien securing
<br />the same.
<br />section 9. Statement_of tin~,aid Assessments.
<br />[lpon paymr_nt nf. a reasonable f.ee, not to exceed Fifty Dollars
<br />($SU.~D), anc'i upon fife written request of any cawner, prospective purchaser
<br />or of r~ny mortr:arrten c?f a condominium suite or clarage, ±:he 3oard of
<br />Aciminist.rators, ;.. thr:• t~7~.. :-;; n', A=.;ent shall. ..,,,ue a .:ritten st~ ement
<br />seti:insl forth the'- ~s-€n~,a*rt erf ths= unpaid ,.,~,.,..-.~,r:ments, if any, with respect
<br />to the su;laject. suite <?r gar.rage, the amezunt~yo#' ttre current perisadic assess-
<br />.~~ sand thF ,ia" - .I~at -~.~~h cS - .,Tine ~:et'~~r<ir dl'arae at~y rzr,naltiz.w ~j„e~
<br />and CreSCl r_`t fJr ;5r3 •:incc:, c+a_ar ma°nt5 err foie ire ±°#r;7 Lr? items, w;~irh c vtemc'nt
<br />shall be conclusive utxon the Association in favor of all persons who rely
<br />thereon in good faith.
<br />Section 10. Nonwaiver.
<br />The n,,;ission or failure to timely fix any assessments or deliver
<br />or mail a statement far rYny aerial shall nut kae deemed a waiver, modifi-
<br />cation or a release vY the owners from their t~bligation to pay the same.
<br />AC'TICLE VI. INSURANCE.
<br />Seckic~n_l. Coverage.
<br />The Board of Administrators shall obtain and maintain, to the
<br />extent obtainable, th+~ folinwinq insurance: fire insurance with extended
<br />>_ - ~'-~f~e s' ~- - x ..e ~.~._ _.. i~» s:; f.- 1: . x-F3L7 L1r €~Fli i`n t , in sLAt lnll c_rie
<br />entire- ctjncliisrinium ir;ri~rc>4e~rents and any other nroperty, whether ar nc~t a
<br />common element {including all of the suites or garages, fixtures therein
<br />initially installed by ttte t?eveic~per hut. not including furniture,
<br />furnishincis or <3ther pa-,rsanal property su1~F?lied by or installed by a+.,ners)
<br />together with all. service equipment contained therein i.n an amount r_clual
<br />to the full replacr~mF~nt vaiu«:, without derlucti.nn for der~reciatiurl. and
<br />which sh<-r11 contain :-3 .tan:9ard non-contribut<iry mnrtgage clause in favor
<br />cif each mc~rtrls'1~1~!r' of a ~-ern<lc>mrniu:e ~.caite or <larage whiL:h shall provide
<br />that: the ios=;, if .any, h<•re~undr'r st,asll be payatate tc? such moregagee as
<br />its inters==, ::t nsay ;tt~ta~;ar, .r, t,jr~<'t, hc~wcaver, to the loss payment pravisiuns
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