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conclusive evidence of payment of any assessment therein stated
to have been pa id.
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Section 8. Af fect 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 Iien on
the Lot(s) against which such assessment is made that shall bind
such Lot(s) in the hands of the Owner(s), his heirs, devisees,
personal representatives and assiqns, and shall also be the
continuing personal obligation o€ the Owner(s) against whom the
assessment is levied.
If the assessment is not paid within thirty t30) days after
the delinquency date, which shall be set by the Board of
Directors of the Association, the assessment shall bear interest
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 mortgage on real
property, and/or a suit on the personal obliqation against the
Owner(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~udgment is obtained, such judgment shall include interest on
k the assessment as above provided and a reasonable attorney's fee
~ to be fixed by the Cburt, together with the costs of the actian.
k
z Section 9. Subordination to Lien of Mortgages: The lien of
~ the assessments for which provision is herein made, as well as in
any other Article of this Declaration, shall be subordinate to
the lien of any first mortqage to a bank, life insurance company,
Federal or State saving and Loan association, or real estate
investment trust. Such subordination shall apply only to the
assessmen~s which have become due and payable prior-to a sale or
transfer of such Lot pursuant to a decreE of foreclosure, and in
any other proceeding in lie~ of foreclosure of such mortqage. No
sale or transfer shall relieve any Lot from liability for any
assessment, The written opinion of either the Developer or the
Association that the lien is subordinate to a mortgage shall be
dispositive of any questions of subordir~ation.
Section 18. Exempt 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, charqes or liens.
VI. COVENANTS RELATING TO SALE OR LFASE
Section 1. Sale or Lease: The Owner of ea~h lot in the
subdivison, on becominq such, covenants and aqrees that, from and
after recordinq a copy of articles of incorporation of
Association in the publc records of St. Lucie Coun~y, F'larida,
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7-16-85 Res Crk ~l
BOOK `t~•J PaGE J~9
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