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12.4 - Collectio~s and Foreclosure. The Association may
take such action as it eems necessary to collect assessments by
personal action, or by enforcing and foreclosing said liens, and 4
may settle and compromise the same if in the best interests of the
Association. The Association will be entitled to bid at any sale
held pursuant to a suit to foreclose any lien; and at any sale
held pursuant to a suit to foreclose any assessment lien, it may ;
apply as a cash credit against its bid all sums due the Association
covered by the lien enforced. In case of the foreclosure of an
assessment lien, the apartment owner will be required to pay a
reasonable rental for the apartment and the plaintiff in such
foreclosure will be entitled to the appointment of a receiver 'to
collect same from the apartment owner and/or occupant.
12.5 - Liability of Mortgagee, Lienor or Judicial Sale
Purchaser for Assessments. Where the mortgagee of an institu-
tional first mortgage of record acquires title to an apartment
as a result of the foreclosure of said mortgage, or where others
acquire title as a result of such foreclosure, or where said
mortgagee accep~s a deed to an apartment in lieu of foreclosure,
or where the Lessor under the Long Term Lease acqu=_res title to
an apartment as a result of the foreclosure of a lien under said
Lease, or where others acquire title as a result of such fore-
closure, oa where said Lessor accepts a deed to an apartment in
lieu of foreclosure, such acquirer of title, his heirs, executors.
legal representatives, successors and assigns, will not be•liable
for the 5hare of common expenses or assessments by the Association
pertaining to such apartment or chargeable to the former owner
of such apartment which became due prior to such acquisition of
title. Such unpaid share of common expenses or assessments will
be deemed to be common expenses, collectible from all of the
apartment owners, including such acquirer of title, his heirs, .
executors, legal representatives, successors and assigns.
12.6 - Assignment of Claim and Lien Rights. The Associa-
tion will have the right to assign its claim and lien rights
for the recovery of any unpaid assessment to the Developer, or
to any apartment owner or group of apartment owners, or to any
third party. •
13. ASSOCIATION.
I
; The operation of said three (3) separate condominiums,
~ including this condominium, will be by the Association, subject
~ to the terms and provisions of the Management Agreement~, which
will fulfill its functions pursuant to the Declarations of
~ Condominium for said condominiums and the following:
~ 13.1 - Its Articles of.Incorporation, a copy of which is
attached hereto as Exhibit H.
13.2 - Its Bylaws, which will be the Bylaws of all such
condominiums, a copy of which is attached as Exhibit I.
13.3 - No modification of or amendment to the Bylaws of
the Association will be valid unless set forth in or annexed to
a duly recorded amendment to this Declaration. The Bylaws may be
~ amended in the manner provided for therein, but no such amend-
n ment will be adopted which would affect or impair the validity
~ or priority of the record owner of any mortgage covering any
~ apartment, or which would affect or impair the validity or
priority of the Long Term Lease, or which would affect or impair
the rights of the Lessor under the Long Term Lease or of the
Manager under the Management Agreement, unless the mortgagee,
lessor, or Manager, shall join in the execution of the amendment.
13.4 - Restraint u on Assi nment of Shares in Assets.
The share of a member in the unds an assets o the Association
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FEE. PARKER & FEE. P. A.
ATTORNEVS AT LAW ~
~ POST OFFIGE BOX 1000 60Ci~~y~~ PIiGE~~J~
FORT PIERCE. FLORIDA 33450
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