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20 <br /> a certificate signed by an officer of the Association setting forth whether the assessments on a <br /> specified Lot have been paid. A properly executed certificate of the Association as to the status <br /> of assessments on a Lot is binding upon the Association as of the date of issuance. <br /> In addition to the regular assessments to be charged and paid hereunder, each Lot Owner <br /> will, at the time of the initial sale of each Lot by Declarant to that Lot Owner, pay to the <br /> Association a sum equal to one (1) months assessment on that Lot as additional working capital <br /> of the Association. These amounts need not be segregated but may be commingled with regular <br /> assessment funds. This working capital amount will be paid by the Lot Owner notwithstanding <br /> the fact that Declarant may have made prior regular assessment payments to the Association on <br /> the Lot being sold pursuant to the provisions of the first sentence hereunder. <br /> Section 4.9. Effect of Nonpayment of Assessments: Remedies of the Association. <br /> Any assessment not paid within thirty (30) days after the due date will be delinquent, in default, <br /> and will bear interest from the due date at the highest rate then permitted by North Carolina law <br /> not to exceed ten (10%) percent. The Association may bring an action at law against the Owner <br /> personally obligated to pay the same plus interest, costs, late payment charges, and reasonable <br /> attorney's fees, or foreclose the lien against the Lot. No owner may waive or otherwise escape <br /> liability for the assessments provided for herein by non-use of the Recreation Space or <br /> abandonment of his Lot. <br /> The lien herein granted unto the Association will be enforceable pursuant to Article 2A of <br /> Chapter 45 of the General Statutes from and after the time of recording a Claim of Lien in the <br /> Offices of the Clerk of Superior Court in Orange County in the manner provided therefore by <br /> Article 8 of Chapter 44 of the North Carolina General Statutes, which claim will state the <br /> description of the Lot encumbered thereby, the name of record owner, the amount due, and date <br /> Page 10 of 50 <br />