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17.5 Liability of Institutional Mortgagees. If an
Institutional Mortgagee obtains title to a condominium parcel as a
result of foreclosure of the first mortgage, or as a result of a
deed or other arrangements in lieu of foreclosure of the first
mortgage, the Institutio~al Mortgagee, its successors and assigns,
shall not be 1 iable for the share of common expenses or assess-
ments by the Association pertaining to such condominium parcel
applicable to the time prior to acquisition of title as a result
of the foreclosure or deed or other arrangements in lieu of fore-
closure, unless such share is secured by a claim of lien for
assessments that is recorded prior to the recording of the fore- •
closed mortgage. Such unpaid share of common assessments shall be
deemed to be common expenses co~lectible fzom all of the unit
owners, includinq such acquirer, and his successors and assigns.
No other sale or transfer shall reliewe any unit from liability
for any assessments due, nor from the Iien of any such subsequent
assessment. The written statement of the Associatian that the
lien is subordinate to the institutional mortgage or that the unit
is not subject to the assessment shall be dispositive of any
question pertaining thereto.
17.6 Liability of Others. Any person who acquires an
interest in a unit, except through •foreclosure of a first mortgage
of record (or deed or other arrangements in lieu thereof), as
specifically provided in the subparagraph immediately preceding,
incl~ding, without limitation, persoris acqniring title by opera-
tion of law, including purchasers at judicial sales, shall not be
entitled to occupancy of the unit or enjoyment of the common ele-
ments until such time as all unpaid assessments due and owing by
the former owner have,been paid.
17.7 Assignment of Claim b}- Association. The.
Association, acting through its eoard of Directors, shall have the
right to~assign its claim and lien rights for the recovery of any
unpaid assessments to Developer or to any nnit owner or group of
unit owners, or to any third party.
17.8 No Abridgement of Rights of Institutional
Mortgagees. Nothing herein shall abridge or limit the rights or
responsibilities af an Institutional Mortgagee of a unit, as set
out herein or in the statutes made and provided for same.
17.9 Budget. The Board of Directors of the Associa-
tion shall approve the annua2 budget for the Condominium in
advance for each fiscal year, which budget shall be in the form
prescribed by the By-Laws of the Association.~
18. LIENS. With the exception of liens which rr~ay result
from the construction of the Condominium, no liens of any nature
may be created subsequent to the recording of this Declaration
agains~ the condominium property as a whole (as di.stinguished from
individual units) except with the unanimous consent of the uni*_
owners.
18.1 Consent of Unit Owners. Unless a unit owner has
expressly requested or consented to work being performed or
materials being furnished to his unit, such labor or materials ~r,ay
not be the basis for the filing of a lien against the unit. ido
labor performed or materials furnished to the common elements
shall be the basis for a lien thereon unless such labor performed
or materials furnished was authorized by the Association, in which
event the same might be the basis for the filing of a lien against
all condominium parcels in the proportions for which the owners
the reof are liable for common expenses.
DC -13
~;R346 P~~r11~.0
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