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duly recorded Amendment to .this Declaration. The By-Laws may be
amended in the manner provided for therein, but no Amendment to
said Hy-Laws shall be adopted which would affect or impair the
validity or priority of any mortgage covering any-Condominium
Unit(s) without the written approval of the affected mortgagees
of record. No amendment shall change the rights of the Developer
without the Developer's written approval. However, the requirement
for the Developer's approval as herein provided. shall terminate
at such time as a majority of the Board of Directors of the
Association are elected by Unit Owners other than the Developer,
or sooner at the Developer's option.
ARTICLE XI
ASSESSMENTS
A. Common Ex nses.Include. The 'Association, through its
Board of Direc ors,~s a ave a power to fix and determine,
from time_to-time, the sum or sums necessary and adequate to _
provide for the Common Expenses of the Condominium Property
including, but-not limited to, such amounts necessary to make up
for uncollectible assessments, budget deficits. and reasonable
reserves, and such other assessments as are specifically provided
for in this Declaration and the By-Laws attached hereto. The
Association shall maintain reasonable and adequate reserves for
replacement of the Common Elements as required by normal deteriora-
tion; said .reserves shall be funded by the regular monthly assess-
ments. The procedure for the determination~of such assessments
shall be as set forth in the By-Laws of the Association and this
Declaration. Each Unit Owner shall be liable for a proportionate
.share of the Common Expenses as provided in Article VII of this
Declaration.
B. Assessments Due and Late Char es. Assessments that are
unpaid for over fifteen 15 days after due date shall bear
interest at the rate of ten percent .(10$) ger annum, from due ,
date until paid. In the sole discretion of the Board .of Directors,
a late charge of $10.00 per assessment or installment thereof not
paid when due may be assessed against a delinquent Unit Owner.
Regular assessments shall be due and payable monthly on the first
(lst) of each month.
C. Lien for Assessments. The Association shall have a lien
on each Con ominium Unit or any unpaid assessments, together
with interest thereon, against the Unit Owner of such Condominium
Unit, together with a lien on all tangible personal property
located within said Unit; such lien is effective from and after
recording a claim of lien in the Public Records of St. Lucie
County, Florida,, stating the description.of the Condominium Unit,
the name(s) of the record owner(s), the amount due and the due
dates. Any such-lien upon the aforesaid tangible personal property
shall be subordinate to prior bona fide liens, including, but not
limited to mortgages of record. Reasonable attorney's fees,
including attorney's fees for appellate proceedings, incurred by
the Association incident to the collection of such assessment of
the enforcement of such lien,~together with sums advanced and
paid by the Association in order to preserve and protect its
lien, shall be payable by the Unit Owner upon demand and shall be
secured by such lien.
D. Enforcement of Lien. The Board of Directors may take
€ such action as it deems necessary to collect assessments by
personal action, or by enforcing and foreclosing said lien, and i
may settle and compromise the same-, if in the Association's best
~ interests. Said lien shall be effective as and in the manner ,
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