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assessments against him with respect to his Condominium
Parcel. The holder of a mortgage or other lien shall have the
same right as to any Condominiwn Parcel upon which it has a
lien. Aap person, other than the Owner~ who relies upon such
certificate shall be protected thereby.
23.10 The Association,
Directors,shall have the right
rights for the recovery of any
Developer or to any Unit Owner
to any third party.
acting through its Board of
to assign its claim and lien
unpaid assessments to the
or group of Unit Owners~ or
23.11 Nothing herein shall abridge or limit the
rights or responsibilities of mortgagees of a Condominium Unit.
23.12 Except as set forth in Article 23.07, no Unit
Owner map be excused from the payment of his proportionate share
~i c~:;~;~n €~~~ns~ r~f a Condt~minfum cti~ie~~ ~Ii tir~it Owner~s are ~
2ikewise proportionately excused from such payment, except
in t~e following case: ~
(1) The Developer may be excused fYOm the payment
of the share of co~n expenses and assessment related thereto
for a period subsequent to the recording of the Declartion
of Condominium and terminating not later than the first day of
the fourth calendar month following the month in which such
Declaration is recorded, or for a period terminating with the
first day of the month of the third succeeding calender month
after the closing of the purchase and sale of any Condominium
to a Unit Owner who is not the Developer, the nominee of the
Developer, or a substitute or alternative developer, whichever
shall be the later date; or
(2) The Developer may be excused from the payc-ent of
his share of the co~on expense in respect of those Units during
such period of time that he shall, have guaranteed to each
purchaser that the assessment for co~non expenses of the Condo-
minium imposed upon the Unit Owners other than the Developer
sha21 not increase over a stated dollar amount and obligate
himself to pay any amount of common expenses incurred during that
period not produced by the assessments at the guaranteed level
receivable from other Unit Owners.
24. Annual Assessment
inco~e and estimated expenses in sufficient detail t~o show separate
estimates for taxes, if any, and insurance for the com~on elements,
operating and maintenance expenses. . .
24.01 The Board of Directors of the Association shall
approve annual budgets in accordance with the provisions of the
By2aws of the Association which bud et shall project anticipated
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