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Amended Declaration, the .Amended Articles of Incorporation and
Amended 8y-Laws as long as they are members. All obligations
including but not limited to the payment of assessments shall
lease for the Developer when membership of the Developer in the -
Association terminates. The termination of obligations shall
apply. to each other member when membership of such member
terminates in the~Association. ~
D. PURPOSBS OF T8B ASSOCIATION
The Amended Articles of Incorporation of the
Association shall specify its purposes and duties.
ARTICLE IV
MAINTBNANCB AND ASSSSS!lSNTS
A. Creation of the lien and Personal Obligation of
Assessments. The Developer for each~Dwelling Unit owned by it ~
within TARPON BAY VILLAS hereby covenants and each Owner of any
Dwelling Unit by acceptance of a deed therefor, whether or not it
shall be so expressed in any such deed or other conveyance,
including any purchaser at a judicial sale, is deemed to covenant
and agree to pay to the Association: (1) quarterly assessments or
charges as provided herein] (2) special assessments for capital
improvements, such assessments to be fixed, established, and
collected from time to time as hereinafter prov~.ded. Only
Dwelling Units shall be assessed and the assessment shall commence
i
only after a certificate of occupancy is issued for the Dwelling
I
~ Unit. The quarterly and special assessments, together with
interest thereon at the rate of ten (10$) percent per annum and
costs of collection thereof (including reasonable attorney's
r '
i fees), shall be a charge on the land and shall be a continuing
i
lien upon the property. Each such assessment together with
~ interest thereon and costs of collection thereof as.hereinafter
: ,
provided, shall also be the personal obligation of the person who
was the Owner of such property at the time when the .assessment
fell due, and by acceptance of deed consents to the creation of
s said liens.
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8331 PEE 9
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