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The common expenses shall be assessed aqainst each Condomini
parcel owner, as provided in ~Article VI of this Declarxtion.
Assessments that are unpaid for over f3fteen (15) days after due
date, shall bear interest at the rate of ten percent (10~) per annum, from due
date until paid; and, at the sole discretion of the Board of Directors, a late
charge of $5. 00 sha11 be due and payable. ,
The Association shall have a lien on each condominium parcel
for any unpaid assessments, togettier with interest the~ eon, against the
unit owner of such condominium parcel, toqether with a lien on all ta.ngible
personal property located upon said unit, except that such lien upon the
aforesaid tanqible personal property shall be subordinate to prior bona. fide
liens of record. Reasona.ble attorneys fees incurred by the Association
in~ident to the collection of such assessment for the enforcement of such
lien, toqether with a11 sums advanced and paid by theAssociation for taxes
and payments on account of superior mortga.qes, liens, or encumbrance.~
which may be required to be adva.nced by _the Association in order to preserve
and protect its lien, shall be pa.yable by the unit owner and secured by such
lien. The Association's liens shall atsa include those sums advanced on
behalf of a unit owner on payment of his obliga~ion.
The Board of Directors may ta.ke such action as they deem
necessary to ~ollect assessments b y personal action, or by enforcing
and foreclosinq said lien, an~i may settle and compromise the same, if in the
best interests of the Association. Said lien sha11 be effective as and in the
manner provided for by the Condominium Act, and sha.ll have the priorities
established by said A,ct. The Association sha11 be entitlecl to bid at any sale ~
` held pursuant to a suit to foreclose an assessment lien, and to apply as a
cash credit against its bid, a11 sums due. #he Association covered by the lien
enforced. In case of such foreclosure, the unit owner sha11 be required t~o
pay a reasonable rental for the condominium parcel, and the Plaintiff in such
f~eclosure sha11 be entitled to the appointment of a Receiver to collect s~me
~ from the unit owner and/or occupant. _
~ The Association shall have the riqht, in lieu of fireclosure, if
r it deems it prudent, to take possession of the said condominium unit and
~ offer the same for rental. From the proceeds of such rental, if any, the
~ Association sha11 credit one-half of the income therefrom to the arrearaqes
and in payment of the lien esta.blished by the defa.ult of the said condominium
owner, and to pay the other one-half to the Developer as its _chaxge for
acting as rental agent. The Associa.tion sha111i.kewise, if necessary, in orcie
to carry out this right of rental, remove any travel trailer in place on such
cor~dominium parcel ar~d place the sa.me in storage, all without liability to
the owner. The selection of this mode of proceedure in payment of the
lien esta.blished by sa.id arrearages and delinquencies shall not be exclusive,
and the association may, at any time, proceed in foreclosure should they
deem the same necessary, or expedient, or prudent, and no question of
judqment may be raised, as this right of renting is an absolute riqht arbd a
paxt of this declaration.
Any person who acquired an interest in a unit including without
limita.tion persons acquirinq title by operation of law, includinq purchasers
W. R. SCOT'T 1
ATTORNEV AT UW -
cOIOR~DO AYENUE ~ - ~ ~
STU~NT, FL01110A ~
~~i6~ ~~353
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