HomeMy WebLinkAbout1856 8. Aaeessments. The making and colleation of assessment against
apartment oar~ers r coma~on eapensea, and for reserves as may Prom
time to tin,e be eatabliahed by the Association, shall be pursuant to
the By-Laws of the Association, sub~ect to the following provisionss
~ 8.1 Interest; Application of Pa nta. Asaessments and
installments on au aesessmen s pa on or etbre five (5) days
aPter the date when due, ahall not bear intereat, but all aums
not paid on or before ten (10) d~ys after the date Nhen dua ahall
bear interest at the rate of ten (10~) percent per annum from the
date ~?hen due until paid. All payments on account shall be firet
applied to interest ar~d then to the assessment payment first due.
8.2 Lien Por Assessments. The Association ahall have a lien
against eac apar men un or ar~y wlpaid assessments againat
the owner thereof, and for interest accruing thereon, which lien
shall also secure reasonable attorneys~ ~ees incurred by the
Association incident to the collection of such asaesament or
enforcement of such lien, Nhet~ier or not legal proceedings are
initiated. The said liens may be recorded among~the Public Recorda
of St. Lucie County, Florida, by filing a claim therein xhich atatea
the legal desaription of the apartment unit, and the amourit claimed
to be due, arxl said lien shall contiraie in effect until all sume
aecured by the lien, together xith all coats incurred in recording
and enforcing said lien, ahall have been paid. Such claima of
lien may be signed and verified by an oPficer of the Association,
or by a managin~g agent oP the Association. Upon t1z11 payment, the
party making payment shall be entitled to a recor3able satisfaction
of lien, to be prepared ar~d recorded at his eapense: Al1 such
~liens shall be subordinate to the lien of mort$agea or other liens
~ recorded prior to the date of recording the claim of lien, ar~d all
such liens may be foreclosed by suit brought in the name oP the
Association in 11ke manner as a foreclnsu~e oP a aartgage on real
property. In ar~y such foreclosure the owner oP the apartment uni t
sub~eat to the lien ahall be required to pay a reasonable rental
for the apartment unit, and the Association ahall be entitled to
the appointment of a receiver to collect the san~. The Association
may also, at ita option, sue to recover a money ~udgment Por unpaid
asseasments ~?ithout thereby Naiving the lien securing the same. In
the event a mortgagee oP a first mortgage of reco~d shall obtain ~
title to the apartment unit as a reault of the foreclosur~e of a
~ first mortgage, or in the event an institutional mort~agee as to a
j firat mortgage of record shall obtain title to an apartment unit
j a~ the result of a conveyance in lieu of foreclosure.of such first
~ mortgage, such acquirer oP title, its successorB and assigna, shall
not be liable for that share of the common eacpenaes or asaesamenta
~ by the Association chargeable to the apartment, or the owner thereof,
° which became due prior to the acqulsition oP title by such institu-
tional mortgagee or purchaser at foreclosure sale, and ar~r such un- _
paid share oP common eapenses, or assesaments, chargeable against
any such forecl,osed apartment unit, or against apartment unit trana-
ferred in lieu of a Poreclosure, ahall be deemed a co~mon expens e,
to be paid in the same manner as other coamon eapenses of the Con-
~ dominium by all of the Condominium unit owners.
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~ 9. Association. The operation oP the Condominium shall be by
Colonnades om n um Associ.ation No. 2, Inc., a corporation not for profit
under the laws of th~e State of Florida, which shall fl.ilfill its Punetions
pursuant to the Pollowing provisions:
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~ 9.1 Articles of Incorporation. A copy of the Articles of In-
g corporation o e ssoc a on, w ch sets forth its powers and du-
~ tiea, is attached as an Exhibit C.
~ 9.2 -Laws. A copy of the By-Laws of the Association ia
attached as an ibit D.
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~ 800K ~~O PAG[ 18e)e~
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u?W OFFIG[i OF OOLDfT[iN. FRANKLIN. CHONIN ~ SCMRANK. P. A., 2020 NORTHEABT lOa~o iTR[R. NORTH MIAMI itACM. f1.OR1~A ~lt~!
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