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HomeMy WebLinkAbout1847 5. ~eial Assessments for Lot Maintenance and Abatement of Nuisances. The Association may levy a 'special assesstdent against any " Owner who has failed, refused or neglected to maintain his property in accordance with the provisions of this Declaration by charging that Owner an amount equivalent~to the costs required to remedy the noncon- forming condition or any nuisance so adjudged by the Board of Directors of the Association in accordance with paragraph 2 of Article VI. . ~ ~ 6. Special Assessments for Capital Improvements. In addition to the assessments authorized above, the Association may levy a special a8seasment payable upon the terms specified by the Association for the_ purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement~of improvements situated upon the Common. Area, including any fixtures and personal property related there- . to, grovided, however, that any such assessment shall have the assent of two-third (2/3) of the votes of each class of members who are voting in person or by proxy at a meeting of the Association duly called for this purpose. 7. Uniform Rate of Assessment. All aseesments.shall be fixed at a uniform rate for all Lots. 8. Nonpayment of Assessments: Remedies of the Association. Any assessment not paid within thirty (30) days after the due date shall bear interest from the due date at the rate of ten percent (.10$ ) per annum. The Association may bring an .action at law or equity against the Owner personally obligated to pay the same or may foreclose the lien against the property. No Owner may waive or otherwise escape liability for the assessments provided for herein by nonuse of the Common Area or by abandonment of his Lot. 9. Subordination of the Lien to Mortgages. The-lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage. Sale or transfer of any Lot shall not affect the assessment lien. However, the sale or transfer of any Lot pursuant to ~ ~ I. mortgage foreclosure or any proceeding in lieu thereof, shall extinguish ~ the lien of such assessments as to payment which became due prior to such sale or transfer: No sale or transfer shall relieve such Lot from liability for any assessments thereafter becoming due or from the lien ~ thereof . 5 BOOK~~ PAGE1S40- ~ ~ .