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- personal representatives and assigns, and shall also be the per-
- sonal obligation- of the then Owner to pay such assessment-, which
.shalt remain his personal obligation until such assessment is paid. -
The assessment shall bear interest from-the date due at the r-ate
of ten percent (1Ox) per annum, and the Association may, at any
ti~ae thereafter bring an action to foreclose the 1 i en against the -
Dwel 1 ing tlni t, together with or as an alternative to an action on -
the personal obl-igation against the Owner. In the event a judg= _
meat shali_include interest an the assessment as~above provided
and a_reasonable attorney's fee to be fixed by~the Court, together
with the costs of the action. -
I-. Subordination of the Lien to Mortgages. -The lien for
the assessments provided herein shall be subordinate~to the lien
of any first mortgage placed upon "Tarpon .Bay Villas" or any
portion thereof subject to assessment. Sale or transfer of such
property-pursuant to a j-udgment of foreclosure; sh-all relieve
such property from assessments previously levied,-but shall not
relieve such Property-from liability for~any assessments assessed
after such acqui si tion of title, nor from .the 1 i en of any- such -
. -
subsequent assessment.
J. Exempt Property. The Board of Directors of the Associa-
tion shall have the right to- exempt any of the Property subject to
this Declaration from the assessments, charge and lien created
herein, provided that such part of the Property exempted is-used
(and as long as it is used) for any of the followsng purposes:
{i) Any easement or other interest-therein dedicated
and accepted by the local public authority and devoted to public
use. -
- - (ii) All Common Area as defined in Article I, Section
F. hereof. -
(iii-) Any of the Property exempted from Ad valorem tax-
ation by the laws of the State- of Florida, to the extent agreed to
by the Association. -
(iv) All public utility easements.
Notwithstanding any provisions herein, no land or improve-
ment4 devoted to dwell-ing or related use shall be .exempt from
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