HomeMy WebLinkAbout0079 and/or in repairing or redecorating the Condominium Parcel. After
payment of the foregoing, any remaining sums shall be paid to the
defaulting owner of said Condominium Parcel. In the event of fore-
closure of an assessment lien, the owner of the Condominiu~a Parcel
being foreclosed shall pay a reasonable rental to the Condominium
Association for the Condominium Parcel during the existence of the
foreclosure proceedings, and the Condominium Association shall be
' entitled to th~ appointment of a receiver by the court having
jurisdiction of sai.d proceedings.
In the event of the foreclosure of a said "institut'ional
mortgage", all unpaid assessments due for the period prior to the
date of issuance of a Clerk's Certif icate of Title, other final
instrument of conveyance from the court having final jurisdiction
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of the foreclosure proceedings, or delivery of a deed in lieu of '
foreclosure, shall be eliminated, and the grantee of said Condo-
minium Parcel shall be liable only for assessments subsequent to
~ the date of acquisition of title. The lien for assessments shall
' survive all other foreclosure proceedings or transfers or every
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nature, and the transferree of each Condominium Parcel, or interest
! therein, upon acquis ition of such interest, shall be liable for
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~ same. The Condominium Association shall furnish a written state- -
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j ment showing the status of assessments chargeable aqainst'any Condo-
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i minium Parcel in the condominium upon written request of any person
'i intending to purchase, encumber or othexwise acquire an interest
in a Condominium Parcel, and such statement signed by an officer r
of the Condominium Association bearing the seal of the Condominium
Association shall be conclusive and binding upon the Condominiwn _
Association and its members.
The Condominium Association sha11 have the right to cure
• the default status of a mortgage on any Condomini~m Parcel in this
condon}i.nium, and in such event any payments or expenditures made
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