HomeMy WebLinkAbout0703 Zfie Assaciation stiall, upon d~nand aC any tii~~, furni::h to any
Owner liable for saicl asses~c~nt a oc,rtifica~ in ~aritinq signed by an officer
of the Associ.ation settiny forth w~~ethc=r said assess~m~~t lia5 been paid. Such
oertificate shall be oonclusive evidenoe of paym~nt of ~ty assf:5szc~it therein
stated to have been paid.
Section 9. Effect of Non-Payrr«rnt o~ ~scs~r~x~nt; ?1~.~ Pc.~r~~l
Obligation of the O~ner; Tfie I~ien; ~dies of 1lssociat~.on. If the assess~nts
are not pai.d an the date when du~ (bein9 the dates speci~ied in Section 3 hereof),
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then such asses~n~.nt shall beorn~ dzlinquent and sha11, tocJefi.h~.r with such in-
terest thereon and oost of callection thereof as hereiriafter provided, there-- .
upon becane a v~ntinuing lien on the ProPe~'tY which shall bind such PmP~Y
in the harids of the then Owner, his heirs, devises, personal, re~sresertatives
and assig;ls. The personal ~ligation of the then Os~mer to ~ay such assessnent,
howev~r, shall re.main his personal. obligatioz? for th° Stc~tll~I~/ ~?r.ic~. ' Pm-
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vicled, tiaw~ever, that no wlu~ntary sale of any Living Uriit sha].1 be effectiv~e, i
nor shall any marketable title be oonv~eyed unless and until the Seller has
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obtzined from the pr~per offioers of th~ Associatian a ce~tificate, in reoord- 4
able fozm, at~estirig to the fact that the Seller has paid all assessments to ~
date. If no such oertificate is obtained and reoord~d, the Purchaser shall r
be oonclusively prestaned t~o have ass~un~d such past due assessments aiid shall
became foxthwith liable therefor. If the assess~nt is not paid within thirty ~
(30) days aft~er the delii3qczzncy dat~e, the assessrent shall bear interest frcm ;
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the date of delinq~ncy at the ra~e of seven peroent (7$) per annun, and the
Association may bring an action of law against the Owrier personally obligated
to gay the same or to foreclose the lien against the property, ar~l there shall
be added to the am~unt of such assessnP~t the costs of preparing and filing
the ca~laint in such ac~ion, and in the event a judc~c~ent is obta~ned, such j
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judc~~ent shall. incluc3~ interest ~ the assessment as above provided and - a i
reasonable attArney's fee to be fixed by the oourt together with~oosts of ~
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the action. ~ ;
Section 10. S'~~bordinatiori of the Lien to Nbrtgages. Z'he lien of
the assess~nts provid~d for herein shall be subordinate to the lien o£ any
first mortgage or mortgages now or hereafter plaaed upon the properties subject
to assessrenf; provided, however, that such subvrdination shall apply cx~ly to
the assessments which have beooci~e dus and payable prior to a sale or transfer
of such property pursuant to a decree of foreclosure. Such sale or transfer ~
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shall not relieve such property fraie ~iability for any assessments thereafter ~
b~eoaning d~e, nor from the lien of any such subsequent assessment, which again
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