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s.
by th_e Board of Directors of the-lssociation to be the date of
Commencement _
The first annual assessments shall be made for the balance
of the calen:lar year. The amount of the annual assessment which
may be levied for the balance rea~aining -in the first year of
" assessment shall be an amount which bears the same relationship
to the annual assessment provided for~in Article Y C, hereof as
the~remainirg~number of months in that year bear to twelve. ,
Any assessment shalt be payable on the due date in advance ~ "
" in monthly, quarterly, semi-annual or annual installments, as .
determined by the Board of Directors of the Association.
- 6. Duties of the Board of Directors. The Board of Di r-
ectors of"the Associat-ion shall fix the date of commencement and.
the amount of the asses-sment against each- Dwelling Unit for each.=
assessment. period. - - _
" Nr.itten notice of the assessment shall thereupon be sent
to every".Owner-and mortgagee or prospective mortgagee sub3ect
thereto, not later than seven-(7) days after fixing the date of
"commencement thereof. - - "
A list of mortgagees to whom notices are to be sent shall -
be maintained by the Association and changes therein shall be
the responsi bi 1 i ty of the Owners,
The Association shall upon demand at any time, furnish to
any Owner and mortgagee,~or prospective Owner or mortgagee liable
for "said assessment,. a certificate in writing signed by an officer
of the Association, setting forth whether said assessment has been
paid.. Such certificate shall be conclusive evidence of payment
of any assessment therein stated to have been paid.
-H. Effect of Non -Payment of Assessment: The Personal
Obligation of-the Owner; the Lien; Re~edies-af Association. If
assessments are not paid on tfi a date when due, then such assess-.
merit shall become delinquent and shall, together with such interest
thereon and cost of collection thereof as hereinafter provided,
thereupon become a continutng lien on the Dwelling Unit(s) against.
.which such assessment is-made, which shall bind-such Dwelling
Gait(s)- in the hands of the then Owner, his heirs, devisees,
_ - - ~3~4 ~sc. ~~3
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