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6.3 L~en Foreclosure. Liens for assessments may
be foreclosed by su t roug t n the name of the Association
in like manner as a foreclosure of a mortgage on real property.
The Association shall have the power to bid in the condominium
parcel at foreclosure sale, and to acquire and hold~ lease,
mortgage.and convey the same. Suit to receover a money
judgment for unpaid assessments may be maintained without
waiving the lien securing the same.
6.4 I~onliabilit Prior to Foreclosure and Common
Ex ense of Lien en a irst mortgagee o ta ns a t t e to
t e con om~~ parcel as a result of a foreclosure brought
on such mortgage, or by deed in lieu of foreclosure thereof.
such acquirer of title, his successors and assigns, shall
not be liable for the share of comanon expenses or assessments
pertaining to such condominium parcel and chargeable to the
former unit owner of such parcel which became due prior to
acquisition of title as a result of the foreclosure, or by
deed in lieu of foreclosure. Such unpaid share of commaon
expenses or assesstnents shall be deemed to be common expenses
collectible from all of the unit owners~ including such
acquirer, his successors or assigns.
6.5 Interest; A lication of Pa ents. Assess-
ments and insta ments on suc assessments against unit
owners paid on or before 10 days after the date when due
shall not bear interest, but all sums not paid on or before
10 days after the date when due shall bear interest at the
rate of 8% per annum from the date when first due until
paid. All payments upon account shall be first applied to
interest and then to the assessment payment first due.
7. ASSOCIATION. The operation of the condominium
shall be y t e Association, which shall fulfill its functions
pursuant to the following provisions:
7.1 Articles of Incorporation. A copy of the -
Articles of Incorporation, as amen e, of Orion Isles Condominium
Association, Inc. is attached as Exhibit "F".
7.2 The B-Laws. The By-Laws o£ the Association
shall be the By- aws o t e condominium,-a copy of which is
attached as Ex'~ibit "G"~.
7.3 Limitatior_ u on Liabilit of Association.
Notwithstanding t e uty o t e Associat~.on to maintain the
condominium property, the Association shall not be liable to
unit owners for injury or damage, other than the cost of
maintenance and repair, caused by any latent condition of
the property to be maintained by the Association~ or caused
by the elements or other owners or persons.
7.4 Restraint upon Assignment of Shares in Assets.
The share of a unit owner in t e funds and assets of the
Association cannot be assigned, hypothecated or transferred
in any manner except as an appurtenance to his unit in the
manner herein provided.
7.5 Approval or Disapproval of Matters. Whenever
the decision of a unit owner is require upon any matter,
whether or not the subject of an Association meeting, such
decision shall be expressed by the same person who would
cast the vote of such owner if in an Association meeting,
unless the joinder of record owners is specifically required
by this Declaration.
~ 7.6 Votin Ri hts. Members of the Association
shall be entitle to one vote for each share in the Association
owned by them as set forth in Exhibit "E" hereto attached.
Voting rights will be exercised in the manner provided by
~ the By-Laws of the Association.
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~ HELIIWELL. t~tELROSE 6 U[WOIF, N~N7N i'IOOR. ~40i BR~CKEII AVENUE. M~AM1, FLORIDA 33~3~ • TELEPMONE (30S) 373-75~~
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