HomeMy WebLinkAbout2041 virtue of any foreclosure or judicial sale, such institutional ±
lender so acquiring title shall only be liable and obligated
for assessments as shall accrue and become due and payable
for said parcels subsequent to the date of acquisition of such
title and shall not be liable for payment of any delinquent
assessments at the time it acquired such title. As to
institutional lenders (which term is defined as a state or
national bank, a Federal or state savings and loan association,
a trust company, or insurance company) such obligation to pay
assessment subsequent to acquisition of title is limited to
payment of any deficit between the total assessment levied
against the parcel owner who are not institutional lenders and
the budget of the Association; however, such obligation shall
not exceed the assessment as to the parcel in the event more
than one parcel. is owned by an institutional lender. The
deficit shall be borne pro-rata between or among them but
such portion not to exceed the assessment as to the parcel or
parcels owned by said institutional lender.
M. Whenever any parcel may be sold, leased or mortgaged
by the owner thereof, upon written request of the owner of
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such parcel, the Association shall furnish to the proposed
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~ purchaser, mortgagee or lessee, a statement verifying the
status of payment of any assessment on such parcel, and any
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~ purchaser, mortgagee, or lessee may rely upon such statement
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in concluding the proposed sale, mortgage or lease transaction
and the Association shall be bound by such statement.
N. In any voluntary conveyance of a parcel the grantee
e shall be jointly and severally liable with grantor for all
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unpaid assessments against grantor made prior to the time of
such voluntary conveyance, without prejudice to the rights of
grantee to recover from grantor the amounts paid by grantee
therefore, but a deed in lieu of foreclosure of any mortgage
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or other lien shall not be a voluntary conveyance under this
-21- ~~ak 3Uy ~ac:2038
1.AK OFFICES OP RICHARD D- SVEEU, dR., P. A.. 3.00 ~'INGIr1A A~ E\I-E. Sl;liE i61-SCV 6AJR Ht~G., !T. PIERCE, FLORIDA 9:L15O (a(YS) 4fi.S-'_d9O ~J
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