Agenda - 08-27-2012 - C2 - Laserfiche WebLink

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enfflrce each such assessment obligation. Any judgment rendered in any such action shall include tlle amount of the delinquency, together with interest therean at the ' highest rate by iaw permitted from the date of delinquency,adminiistrative fees,court . ,costs and reasanable attomey's fees. � 2. Enforcement bv Lien. To the full extent permitted by law,there is hereby created a lien,with power af sale, on each Lat within the Properties to secure payment to the Association of any and all assessments Ievied against all Uwners af such Lats under the Declaration, together with interest thereon at the highest rate by law pxovided from the date of delinquency and all costs of collection which rnay be paid or incurred by the Assaciation in connecrion therewith, including administrative fees and reasanable attorney's fees. At any time after the occurrence of any default in the payment of any assassment the Association, or any authorized representative of the Association,may,but shall not be required to,make a written demand for paymenk to the defaulting Owner on behaIf of the Assaciation. Said demand shall state the date flf the assessment was due and the amount of delinquency. Each default shali constitute a separate basis for a demand or claim af lien, but any number of defaults may be included within a singIe demand or claim c�f lien. If such delinquency is nat paid wathin ten{lfl)days after delivery af such demand,the Board of Directors may elect to file such a claim of lien in the appropriate State andtar Durham County . offices {i.e., �ffice of the Clerk of Superiar Court andior Office af the Register af Deeds of Durham County, Narth Carolina) on behalf of the Association against the Lot of the defaulting Owner. Such a ctaim of Eien shall be executed and acknowledged by any officer af the Association, or an agent ar attorney desEgnated by the Board,and shall contain the faliowing information: � a. The name of the�delinquent Owner; - � � ' b. The legal description and street address of the Lot against which claim of lien is made; c. The tgtal amount claimed ta be due and owing for the amaunt of the delinquency, interest thereon, administrative fees, collection costs and reasonable attomey's fees; d. That the claim of lien is made by the Association pursuant ta the Declaration for non-payment of annual andior special assessment{s);and .___ __ _. . . _ _ . __ _ _ _ _ _ e. That a lien is claimed against said Lot in an amount equal to the amount stated, plus acertiing interest and costs, including reasanable attorney's fees. Upon the recordation of a duly executed orig"►na1 or copy of such a claim of Iien and the mailing a copy thereof by certified mail,postage prepaid,to said defauiting Owner at the last know address af said t�wner on the books of the Association,the lien claimed therein shall immediately attach and become effective in favor of the Assflciation as a lien upan the Lot against which such assessment was levied and such Iien shall have priority over all liens or claims created subsequent ta recardation of the claim af liert thereof, except only tax liens for real property taxes on any Lot, assessments on any Lat in favar oP any municipai, county or other governmental assessment unit, and the liens which are hereinafter specificaliy described in Paragraph J hereinbelow. Any such lien may be . foreclosed by appropriate action in court or in the manner pravided by law for the . foreclosure of a deed of trust as set fotth by the laws of the State of North Carolina,as the same may be changed or amended. The lien provided for herein shall be in favor of the Association and shall be for the benefit of all other Owners. fihe Assaciation shall have the power, but not the obligation, to bid in at any forec(osure sate and ta purchase any such Lot and to hoId, lease, mortgage and convey any such Lot purchased. In the event sach foreclasure is by action in caurt, reasonable attvmey's fees, court costs, title examination fees,interest and all ather costs and expenses incucred in such foreclosure by the Assaciation, shall be allowed to extent permitted by law. EACH OWNEl2, BY , l3