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ASSESSMENTS~
A. The Association, when lt commences to func-
, tion, through its Board of Directors, shall have the
power to fix and dete~mine. from time to time, the sum
o~ sums necessary and adequate to provide for the common
expenses of the Condominium property, and such other
assessments as are specifically provided for in this
Declaration and the By-Laws of the Association. P~io~
to the commencement to function as an Association, each ~
Condominium parcel owner shall pay as provided by Article
YII his proportion of all expenses, including accounting,
to the Developer; provided,.however, during the time of
sales and until such time as all lots have been sold or
a~e being rented by the Developer, each owner shall pay
a proportional pa~t of expense in ratio to total lots ~
sold at end of each month, payable quarterly. Al1 rights
of enforcement as set forth herein as to the Association
shall vest in the Developer until its completion of sales.
B. The Board of Directors may take such action
as they deem ne.cessary to collect assessments by per-
sonal action, or by e~forcing and foreclosing said lien,
and may settle and compromise the same, if in the best
i~terests of the Association. Said lien shall be effec-
tive as in the manner provided fo~ by the Condominium Act,
and shail have the priorities established by said Act. -
The Association shall be entitled to bid at arty sale held
pursuant to a suit to foreclose an assessment lien, and
to apply as a cash c~edit against its bid, all sums due
the Association covered by the lien enfo~ced. in case
of such foreclosure, the unit owner shall be required to
pay a reasonable rental for the Condominium parcel, and
the Piaintiff in such foreclosure shall be entitled to
~ the appointment of a Receiver to collect same from the
€ unit owner andlor occupant.
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E C. The Assotiation shall have the right, in lieu
~ of foreclosure, if it deems it prudent, to take posses-
sion of the said Condomin~ium unit and offer the same for
~ ~ rental. From the proceeds of such rental, if any, the
Association shall credit one-half of the income therefrom
to the arrearages and in payment of the lien established
by the default of the said Condominium owner, and to pay
~ the other one-half to the Developer as its charges for
~ acting as rental agent. The Association shall likewise,
~ if necessary, in order to carry out this ~ight of rental,
remove any travel trailer in place on such Condominium
~ parcel and piace the same in storage, all without lia- ~
~ bility to the owner. The selection of this mode of pro-
cedure in payment of the lien established by said
~ arrearages and delinquencies shall not be exclusive,
~ and the Association may, at any time, proceed in fore-
~ closure should they deem the same necessary, or expedient,
~ or prudent, and no question of Judgment may be raised, as
~ this right of renting is an absolute right and a part of
~ this Declaration.
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