HomeMy WebLinkAbout2232, --
t•
t
deems necessary to collect assessments by personal action or by
enforcing and foreclosing said lien. and may settle and
compromise the same if in the best interests of the Association.
Suits to recover a money judgment for unpaid assessments nay
be maintained without waiving the lien securing the same.
Said lien shall be effective as and in the manner provided by
the Condominium Act and shall have the priorities established
thereby.
23.06 Liens for assessments may be foreclosed by
suit brought in the name of the Association in the manner of a
foreclosure of mortgage on real property, as more fully set
forth in the Condominium Act. The Association may bid at any
sale and apply as a cash credit against its bid all sums due
the Association covered by the line being enforced , and to
acquire and hold, lease, mortgage and convey the same.
23.07 Where a mortgagee of a first mortgage of
record, or other purchaser, of a Condominium Unit obtains
title to the Condominium~ Parcel as a result of forec.losure
of the first mortgage, or where an institutional mortgagee of
record accepts a deed to said Condominium Parcel in lieu of
foreclosure, such acquirer of title and its successors and
assigns, shall not be liable for the share of conmon exnenses or
assessment by the Association pertaining to such Condominium
Parcel or chargeable to the former Unit Owner of such Parcel
which became due prior to acquisition of title as a result of
the foreclosure. or acceptance of such deed in lieu of
foreclosure, unless such share is secured by a claim of lien
for assessments that is recorded prior to the recording of the
foreclosed mortgage.Such unpaid share of coa~on expenses or
assessment shall be deemed to be com~on expenses collectible
from all of the Unit Owners, including such acquirer, its
successors and assings. A mortgagee acquirittg title to a Condo-
minium Parcel as a result of foreclosure or a deed in lieu of
foreclosure may not, during the period of its ownership of such
parcel~ whether or not such parcel in unoccupied, be excused from
the payment of some or all of the co~unon expenses coming due during
the period of such ownership.
- 23.08 Any person who acquires an interest in a Unit
including without limitation persons acquiring title by operation
of law, including purchasers at judicial sales, shall not.be
entitled to occupancy of the Unit or enjoyment of the co~non
elements until such time as all ufipaid assessments due and owing
by the former Owner have been paid.
23.09 Any Unit Owner shall have the right to require
from the Association a certificate showing the amount of unpaid
-26- B~OK~~ P~GE~aCtJV
-~~~::,~