Agenda - 05-02-1988 - Laserfiche WebLink

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amount of the assessment against all lots for each assessment period and shall, at that time, prepare a roster of the properties and 098 assessments applicable thereto which shall be kept in the office of the Association and shall be open to inspection by any owner. Written notice of the assessment shall thereupon be sent to every owner subject thereto. The Association shall upon demand at any time furnish to any owner liable for said assessment a certificate in writing signed by an officers of its Association, setting forth whether said assessment has been paid. Such certificate shall be conclusive evidence of payment of any assessment therein stated to have been paid. Section 9. Effect of Non-Payment of Assessment. The Personal Obligation of the Owner, the Lien; Remedies of Association. If the assessment or any monthly installment(s) thereof are not paid on the date when due (being the dates specified in Section 7 hereof) , then such assessment shall become delinquent and shall, together with interest thereon at the rate of eight (8) percent per annum from the due date and cost of collection thereof as hereinafter provided, thereupon become a charge and continuing lien on the land and all improvements thereon, against which each assessment is made, in the hands of the then owner, his heirs, devisees, personal representatives and assigns. The personal obligation of the owner at the time of the assessment to pay such assessment, however, shall remain in his personal obligation and shall not pass as a personal obligation to his successors in title unless expressly assumed by them. If the assessment of any monthly installment thereof is not paid within thirty (30) days after the due date, the Association may bring an action at law against the owner personally obligated to pay the same or to foreclose the lien against the property, and there shall be added to the amount of such assessment the costs of preparing and filing the complaint in such action, and in the complaint in such action, and in the event a judgment is obtained, such judgment shall include interest on the assessment as above provided and a resonable attorney's fee to be fixed by the court together with the costs of the action. Section 10. Subordination of the Lien to Mortaages. The lien of the assessments provided for herein shall be subordinate to the lien of any mortgage, or mortgages now or hereafter placed upon the properties subject to assessment; provided however, that such subordination shall apply on to the assessment which nave become due and payable prior to a sale or transfer of such property pursuant to a decree of foreclosure, or any other proceeding in lieu of foreclosure. Such sale or transfer shall not relieve such property from liability for any assessments accruing after conveyance by mortgage owner to a subsequent owner. Section 11. Exempt Property. The following property, individuals, partnerships or corporations, subject to this Declaration shall oe exempted from the assessment, charge and lien created herein;