Orange County NC Website
Browse       Search
to inspection by any member. The Declaration, the Articles of <br /> • Incorporation and the By-Laws of the Association shall be avail- <br /> able for inspection by any member at the princpal office of the <br /> • Association, where copies may be purchased at reasonable cost. <br /> ARTICLE XI <br /> ASSESSMENTS <br /> As more fully provided in the Declaration, each member <br /> is obligated to pay to the Association annual and special assess- <br /> ' <br /> ments which are secured by a continuing lien upon the property <br /> against which the assessment is made. Any assessments which are <br /> not paid when due shall be delinquent. If the assessment is not <br /> paid within thirty (30) days after the due date, the assessment <br /> shall bear interest from the date of delinquency at the rate of <br /> twelve percent (12%) per annum, and the Association may bring an <br /> action at law against the Owner personally obligated to pay the <br /> same or foreclose the lien against the property, and interest, <br /> costs, and reasonable attorney's fees of any such action shall <br /> be added to the amount of such assessment. No Owner may waiver <br /> or otherwise escape liability for the assessments provided for <br /> herein by nonuse of the Common Area or abandonment of his Lot. <br /> ARTICLE XII <br /> • CORPORATE SEAL <br /> The Association shall have a seal in circular form <br /> having, its circumference the words: Chandler's Green <br /> Subdivision, Ltd. <br /> -12- <br />