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HomeMy WebLinkAbout0805 tangible personal property shall Ue suUordinate to prior b~na fide liens of recoi•d. This lien will include all surr,s advanced and paid by the Association for taxes and all payments on account of superior mortgages, ?iens or en- cumbrances ~ti~hich ma~• be required to be advanced by the Association in order to preserve and protect its iien. ?.4. Collection An:~ Foreclosure: The Bcard of Direc- tors of the Association :~Zay take such action as ~hey deem necessary~ to cc~llect assessments, by personal action or by enforcing and foreclosing said lien, and may settle and compromise the same, if in the best interests of the Association. The delinquent m~mbers shall pay all costs, including reasonable attorneys' fees, incident to the collection of such assessments ai~d enforcement of such lien. Said lien shall be effective as and in the manner provided for by the Con-- dominium Act and shall have the priorities established by said Act. The Asso- ciation s::all be entitled 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, all sums due the Association covered by the lien enforced. l~loreover, in any lien foreclos- ure, ±he apartment owner may be required to pay a reasonable rental for con- tinued occupancy or use of the apartment; and the Plaintiff in the foreclosure ~hall be entitled to the appointment of a receiver to collect same from the owner and /or occupant. 7. 5. Liability Of 141ortgagee; Lien Of 3udicial Sale Purchaser For Assessments: Where the mortgagee of an institutional first mortgage of record, o: other purchaser of an apartment obtains title to an apartment as a result of foreclosure of an institational firGt mortgage, or ~vhen an institutional first mortgagee of record accepts a deed to said apartment in - lieu of foreclosure, or any other purchaser or purchasers obtain title to an apart- ment as a result of foreclosure of the aforesaid institutional first mortgage, such acquirer of title, its successors and assigns, shall not be liable for the share of common expenses or assessments by tlie Association pertaining to such apartment, or chargeable to the former o~vner of such apartment, ~vhich became due prior to acquisitian of titl~ as the result of the foreclosure or of the accept- ance of such deed in lieu of foreclosure. Such unpaid share of common expenses or assessments shall be deemed to be common expenses, collectible from all of the apartment o~c~ners, i.rcluding such acquirer, his successors and assigns. Ho~v- ~ ever, any person who acquires an interest in an apartment, eacept through fore- ~ closure of an institutional first mortgage of record, a~ specifica113~ provided in ~ the paragraph immediately preceding, including without limilation persons ac- ~ quiring title by operation of la~v, including purchasers at judicial sales, shall not be entitled to occupancy of this anartment or enjoyment of the common ele- ~ men~s until such time as all unpaid assessments due and o~ring by the former ° or~~ner have been paid. 7.6. Assignment Of Claim ?~nd Lien Rights: The Asso- " ciation, acting through its Board of Directors, shall have the right to assign its claim and lien rights for the recovery of any unpaid assessment to the Develop- er, or to any- apartment o~vner or group of apartment o~vners, or to any third ` party. ~ ~ VIII. THE ASSOCLATI01?. ~ ~ The operation of the condominium shall be by BEACH ~ CLL: B COLONI' CONDOl1INIL ~I ASSOCIATI0~1, INC. , a corporation not for profit organized and existing under the Iav~s of the State of F~orida, which ~ shall fulfill its functions pursuant to the following provisions: ~ ~ ~ ~ ~ ~ ~ ~ -8- "i t ~ ~ _ ~ CARL F. EIIW/!NGER AT70RDlEY AT LAiti P. O. BOX f85:7 STUART. FLORIDA 33494 rx , ~ i s a - _ s s;: -k"_:?i ~ . . __.d _.s_.s-~r _~..s . _ ~ ` rb-