Loading...
HomeMy WebLinkAbout2841 . • ' i 7.4 Alteration and Improve~nt. After the completion o~ the ~ improvemen s nc~ u e n e comrr.on elements which are contemplated ~ in the Declaration, there shall be no alteration or fl~rther inr~rove- ments o~' common elements without the prior appriaval, in writing, by record owners of seventy-five (7S9~) percent of all apartment un3t owners, together with the approval of the Association. The cost of such alteration or improvement shall be a common expense and so assessed. Any such alteration or improvement shall not Sn- t~rfere with the rights of any apartment owners without his consent. 8. Assessments. The making and collection of assessment against apartment owners or common expenses, and for rese rves as may from time to ti:ne be established by the Association, shall be pursuant to the By-Laws of the Association, sub3ect to the folloWing provisions: 8.1 Interest; Application of Payrr~ents. Assessments and installments on suc assessmen s pa on or efore five (S) days after the date when due, shall not bear interest, but all sums not paid on or before ten (10) days after the date when due shall bear interest at the rate of ten (1096) percent per annum from the date when due until paid. All payments on account shall be first applied to interest and then to the assessment payment first due. ^Fi;r ~ 8.2 Lien for Assessments. The Association shall have a lien against eac apar men un or any unpaid assessments against the owner thereof, and for interest accruing thereon, which lien shall also secure reasonable attorneys' fees incurred by the Association incident to the collection oP such assessment or enforcement of such lien, whether or not legal proceedings are initiated. The said liens may be recorded among the Public Records of St. Lucie County, Florida, by filing a claim therein which sta~es the legal description of the apartment unit, and the ar~unt claimed to be due, and said lien shall continue in effect until all sums ~ secured by the lien, together with all costs incurred in recordi~ng c and enforcing said lien, shall have been paid. Such clairns of ~ lien may be s g~ned and verified by an officer of the Association, ~ or by a manag~ng agent of the Association. Upon full payment, the s party makirig payrr.ent shall be entitled to a recordable satisfaction g of 21en, to be prepared and recorded at his expense. All such i liens shall be subordinate to the lien of mortgages or other liens f recorded prior to the date of recording the claim of lien, ard all ; such liens may be foreclosed by suit brought in the name of the ~ Association in like manner as a foreclosure of a m~ortgage on real ~ property. In any such foreclosure the owner of the apartment unit sub~ect to the lien shall be required to pay a reasonable rental ~ for the apartment unit, and the Association shall be entitled to ; ~ the appointment of a receiver to collect the same. The Association i ~ may also, at its optian, sue to recover a money ~udg~r.ent for unpaid i ~ assessments without thereby waiving the l~en securing the sarr~. In ~ the event a mortgagee of a first mortgage of record or any other ~ person or entity shall obtain title to the apartment unit as a ~ result of the foreclosure of a first mortgage, or in the event an ~ institutional mor~tgagee as to a first mort~aEe of record shall obtain title to an apartment unit as the result of a conveyance in lieu of first foreclosure of such first mortgage, such acquirer ~ of title, its successors and assigns, shall not be 1?able for ~ that share of the common expenses or assessments by the Association chargeable to the apartment, or the owner thereof, which beca~rz i - due prior to the acquisition of title by such institutional R mortgagee or purchaser at foreclosure sale, and any such un- - paid share of conar?on expenses, or assessments, chargeable 3~2~T~St _ any such foreclosed apartment unit, or against apartment unit trans- - ferred in lieu of a foreclosure, shall be deemed a common exper:se, = to be paid in the same manner as other comrnon expenses of the Con- _ dominium by all oP the Condominium unit owners. 9. Association. The operation oP the Coniominium shall be by ~ COIANNAD IRIOMS ASSOCIATION N0. 4, INC., a corporation not for = - ~ 4 ~k=, . ( '-r==~ -s- 8oox198 P~~~2838 L.W OiFICES OF GOLDSTEfN. FRANKLIN, CHONIN Q SGHRANK, P.A., 2020 NORTHEAST 163~0 57REE7. NORTH MIAMI 2EACH. FLORIDA 331G2 s~ - - _ - -