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Home My WebLink About0010 i.a Alteration and Im rove~ent. A.fter the campl~t~a of th~ improvements inc u e in t~ ccmmon elem~nts whicfi are contemplated in ihe Declaration, thare sha11 be no alt~ration or further impr~~em~nts of common elements t:~ithout the prior approval, in writing, ~y record owners ot seventy-five i75~) perce~t of all apart~~ent unit ownerss together with the approvaY ~f the Associat?on. The cost of such alteration ~r improvement shall be a conunon expense and so assessed. An~f such alterat~on or improve~;ent shall not interfere ~rith the rights of any apart- ment o~mer without his ~cns~:~-t. 8. Assessments. The making and collection of assessm~nts against apartment owners~ i common expenSes, and for reser~e~ as may from time to time be established by the association, shail be pursuant to the By-Laws of the Assaciation, subject to the follo~r~ing provisions: 8.1 Interest A lication of Pa ents. Assessments and installments on suc ass~ssments pai on or before five (5) days after the date when due, shall not bear interest, but all sums not paid on or before ten (10) da s after the date when due shall bear interest at the rate of ten ~10~) percent per annum from the date wh~n due un~cil paid. All payments on account shall be first appl'ied to interest and then to the assessment ~a~cne~t first due. ' 8.2 Lien for Assessments. The Association shall have a lien , against each apartment unit for any unpaid assessments against che owner +hereof, and for interest accruing thereon, ~vhich lien shal.'~ also secure reasonable attorney's fees incurred by the :~nforcem~nt of such lien, whether or not legal proceeding~ are ' initiated. The said liens may be record~d among the Public Records of St. Lucie County, Florida, by filing a claim therein which statPs the legal description of the apartment ~nit, and the amount claimed to be due, and said lien s~-~a~l continue in effect until all sums secured by the lien, together K~ith all costs _ incurred in recording and enforcing said lien, shall r.ave ~ee.^. paid. Such claims of lien may be signed and verified by an officer ~ of the Associazion, or by a manag;ng agent of the Associations. Upon f~all payment, the party ~:.aking payment shall he entitled to a recordable satisfaction of line, to be prepared and r~corded at his expense. All sach Iiens shal.l be Sub~rdinate to the lien of mortgages or other lien$ recorded prior to the date of recording ~he claim of Zien, and all such liens may be for~closed ~ by suit brought in the name of ~he Association in like m3nner as i a foreclasure of a mortgage ~n Teal property. In any such fore- closure the awner of the apzrtment unit subject to the li~n shail 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 Asseciation may also, at its ~ option, sue to r~cover a mon~v ~~~~gment for unpaid assessments ~ Ytiith~ut cnere4y waiving ~ne iien securing the same. In the event ~ a mo~tgagee of a first mortgage of recoxd or ar,y ather nerson nr ~ er~tity shall obtain title to the apart:nent unit as a re5ult of I ~ ihe fore~,losur~ of a first mortaaQe, or zn the e•~en~ an ~ ir~titutional mortgagee a~ to a fi.rs± mortgage of record shall ~ ebtain title to an apartmej~t unit as the result of a ~onveyance . in lieu of first foreclos~~~-e of such f~rst mortgage, such acquirer ; of title, its successers ;::,d assigns, shall not be Ziable for that ' share of the common expenses or assessments b;~ the Association ctiargeable to the apartment unit, or the owner thereof, which i r~ecame due prior to the acquisition of t~tle by such institutional ! mortgagee or pu_rcha~er at £ereclosure saie, ;n~ an_y such unpa~d ~ share of common expenses, ~r assess:nent, chargzable aaa~nst any ~ such toreclosed apartment unit, or ac~einst apartment :znit trans- ; ferred in lieu of a foreclos~.~re, shall be deemed a common expense, ! to be paid in the same manner as other common expe~ses o£ the ; ~ ondaminium or al~ of the Condomi.nium uni ~ owners. 9. Association. The operation of the Condominium shall be by COLONNADES CONDOMINIUsh ASSOCIATION NO. 7, INC., a corporation not for profit ~snder ±hP laws of the ~tate ~f Flori_da, ~vhich shall fulfill its functions puxsuar.~ to the following provisions. ~ ~ f~i~( i~.3.1. ~F ~ - ~ _ - ~ _ ~ _ ~ _ . - ~ - - _ ~