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Of thirty (30) days after the due date shall beat'. interest from the due date until paid at a rate of eighteen percent (18%) per annum or such lower rate as may be set by the Association. A late charge not, to exceed $25 .00 may also be imposed by the Association for each installment of Common Expense Liability or any Special Assessment or other charge not paid within thirty (30) days aft the due Wdate, In addition, any Common Expense Liability, Special Assessment or other charge levied, assessed or charged by the Association to . or against any Unit pursuant to any provision of this Declaration shall, to the extent permitted by law, constitute alien against such Unit, which lien shall be perfected when filed of record In. the Office of the Clerk of Superior Court of Orange County, North Carolina in the manner provided in Article 8 of Chapter 44 of the General Statutes of North Carolina. Such lien shall also secure the payment of any inte est, late charge and cost incurred by the Association or by the management firm, if any, including reasonable attorneys' fees, incident to the collection of any Common Expense Liability, Special Assessment or other charge as well as all sums advanced and paid by the Association for taxes and payments on account Of superior mortgages, deeds of trust, liens or other encumbm= which may be required to be advanced by the Association in order to preserve and protect its lien. Any such lien may, to the extent permitted by law, be foreclosed as provided in Article 29A of Chapter 1 of the General Statutes of North Carolina, N.C.G. S . § 1 -339. 1 eta ggeg, and the Association may take such action as it duns necessary to collect- any Common Expense Liability, Special Assessment or other charge e levie d, assessed or charged by the Association to or against any Unit pursuant Ao any provision of this Declaration, either by personal action against the Owner of such Unit or by foreclosing its lien, or both, and may settle and compromise its claim or lien if deemed to be in the Association's best interest. The Association shall " be entitled to bid at any sale held pursuant to a foreclosure of its lien and to apply as a cash credit against its bid all sums due as provided herein and secured by such lien. In the event a mortgagee "or other person obtains title to any Unit as a result of the foreclosure of any mortgage or deed of trust having priority over any Association lien for any Common Expense . Liability, Special Assessment or other charge or as a result %of any conveyance or other process m lieu of . foreclosure, such mortgagee or other person shall not be liable for any Common Expense Liability, -47_