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incurred by the Association incident to the collection of
such Assessments and Other Charges or enforcement of such
lien, together with all sums advanced and paid by the
Association for taxes and payments on account of superior
mortgages, liens or encumbrances which may be required to be
advanced by the Association, in order to preserve and protect
its lien. The Association shall be entitled to bid at any
sale held pursuant to a law suit to foreclose a lien, and to
apply as a cash credit against its bid, all sums due, as
provided herein, and covered by the lien enforced. In
addition, or alternatively to enforcement of the lien on any
Estate for unpaid Assessments and Other Charges, the
Association may institute an action at law to enforce and
collect the Owner's individual obligation for the unpaid
Assessments and Other Charges. In the event of such action,
the Association shall be entitled to collect interest on the
gast due Assessments and Other Charges as set forth herein,
as well as attorneys' fees and costs incurred in connection
with prosecution of the action and collection of the debt.
3. whenever a mortgagee •acquires title to an
Estate through foreclosure of a first mortgage or deed in
lieu of foreclosure of a first mortgage, he shaZl not be
liable for the shares of Assessments and Other Charges levied
by the Association pertaining to such Estate, or chargeable
to the former Owner, which became due prior to acquisition of
title as a result of the foreclosure or the acceptance of a
~eed in lieu of foreclosure, unless the share is secured by a
claim of lien for Assessments and Other Charges that is
recorded prior to the recording of the foreclosed mortgage.
The unpaid share of Assessments and Other Charges shall be
deemed to be common expenses collectible from all of the
Owners, including such acquirer, his successors and assigns.
4. In a voluntary conveyance, the purchaser of an
Estate shall be jointly and severally liable with the grantor
for ail unpaid Assessments and Other Charges ~or the period
preceding such conveyance, without prejudice to any rights
which the purchase'r may have to recover from the grantor the
amounts paid by the purchaser.
5. The Association may assign its claim and lien
rights for the recavery of any unpaid Assessments and Other
Charges to Developer, or to any Owner or group of Owners, or
to any third party. Any and all rights and remedies provided
herein may be exercised at any time and from time to time,
cumulatively or otherwise. The Association's rights and
remedies may be waived onZy by written authority of the Board
of Dir~ctors, and any such waiver shall not constitute a
continuing waiver or be renewed or extended without such
written authority.
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DOW( 674 PACE~~~B
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