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20110291� 15. These covenants, restrictions, and conditions shall run with the land and shall be binding upon all persons and all parties claiming ownership of lots in the Subdivisions until June 1, 2012, at which time said covenants, restrictions, and conditions shall be automatically extended for successive periods of ten (10) years each, unless changed or modified by a vote of two-thirds of the then Owners of the lots in said Subdivisions. 3. The following Restrictive Covenant is hereby added: 19. If any lot owner shall fail or refuse to make any payment of an assessment when due, the amount thereof shall constitute a lien on the interest of the lot owner in said lot and Association by and through the Executive Board may record such lien in the Office of the Register of Deeds of Hall County, Nebraska; whereupon, said lien shall be privileged over and prior to all liens and encumbrances except assessments, liens and charges for taxes past due and unpaid on the lot and except prior duly recorded mortgage and lien instruments. Assessments delinquent more than ten (10) days after the due date shall bear interest at the highest legal rate from the due date until paid. The delinquency of one installment of an annual assessment shall cause all remaining installments, at the option of the Association, to immediately become due and payable. The Executive Board shall have the right and duty to attempt to recover such assessment, together with interest thereon, and the expenses of the proceeding, including attorney fees, in an action to recover the same brought against such lot owner, or by foreclosure of the lien on such lot. In any action brought by the Executive Board to foreclose a lien on a lot because of unpaid assessments, the lot owner shall be required to pay a reasonable rental for the use of his lot, and the plaintiff in such foreclosure action shall be entitled to the appointment of a receiver to collect the same. The Executive Board, acting on behalf of all lot owners, shall have power to purchase such lot at the foreclosure sale, and to acquire, hold, lease, mortgage, vote the votes appurtenant, to convey or otherwise deal with the same. A suit to recaver a money judgment for unpaid assessments shall be maintainable without foreclosing or waiving the lien securing the same. a olI DATED this �� day of Q �c� , 2�6� MatBo e a , Secretary e Rainbo Lake Homeowners Association, Inc.