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HomeMy WebLinkAbout0925 . ~ ~ y f ~ J~ . ` l • ` , " ~ • . ~ ~ ~ • . • 3 conclusive evidence of payment of any assessment thexein stated to have been paid. Section 8. Affect of Non-Payment of Assessment; The Lien, the Personal Obligation, Remedies of Association: If any assess- ment is not paid on the date when due, such assessment shall then become delinquent and shall, together with such interest thereon and the cost of collection thereof, become a continuing lien on the Got(s) against which such assessment is made that shall bind such Got(s) in the hands of the Owner(s), his heirs, devisees, personal representatives and assiqns, and shall.a2so be the continuing personal obliqation of the Owner(s) against whom the assessment is levied. If the assessment is not paid within thirty (30) days after the delinquency date, which shall be set by the Board of Directors of the Association, the assessment shall bear i~terest from the date of delinquency at the rate of eighteen (18$) percent per-annum, and the Association may, at any time thereafter, bring an action to foreclose the lien aqainst the Lot(s) in like manner as a foreclosure of a mortgaqe on real property, and/or a suit on the personal obligation against the Ow ner(s), and there shall be added to the amount of such assessment the cost of preparing and filing the com plaint in such action (includinq a reasonable attorney's fee), and in the event a judgment is obtained, such judgment shall include interest on the assessment as above provided and a reasonable attorney's fee to be fixed by the Court, together with the costs of the action. E r ~ Section 9. Subordination to Gien of Mortgages: The lien of ~ the assessments for which provision is herein made, as well as in e any other Article of this Declaration, shall be subordinate to - ~ the liQn of any first mortqage to a bank, life insurance company, _ Federal or State saving and Goan association, or real estate investment trust. Such subordination shall apply only to the assessments which have become due and payable prior to a sale or transfer of such Got pursuant to a decree of foreclosure, and in ~ any other proceeding in lieu of foreclosure of such mortgage. No ~ sale or transfer shall relieve any Got from liability for any assessment. The written opinion of either the Developer or the Association that the lien is snbordinate to a mortgage shall be dfspositive of any questions of subordination. Section 18, Exem pt Property: All property except that ~ which is legally platted into individual lots shall be exempt for ~ assessments. Notwithstanding any provisision herein, no land or improvements devoted to dwellinq shall be exempt from said ~ assessment, charges or ~iens. ~ VI. COVENANTS RELATING TO SALE OR LEASE Section 1. Sale or Lease: The Owner of each lot in the subdivison, on becominq such, covenants and agrees that, from and - after recordinq a copy of articles of incorporation of ~ Asaociation in the publc records of St. Lucie County, Florida, ~ 7-16-85 Re$ Plt BOOK 4~ ~`~E sz3 5 . _ . - ~ . ~ ~ ._,W~ .