11-14-2005 Council Packet - Laserfiche WebLink

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S'- has been given a written noboe specifying the default and fails to cure it within ten (10) days of such notice, or within such longer period of time as may be reasonably required to cure such default, up to a maximum of thirty (30) days. (d) t^oiiacHon of Cost Shares . Each present Owner of a Parcel, and each future Owner of a Parcel, whether or not it shall be so expressed in the conveyance or assignment to such Owner, hereby covenants with the Owners of each of the other Parcels that such Owner shall pay promptly when due such Owner's Cost Share of Easement Area Costs. Each Owner's Cost Share of Easement Area Costs, together with interest at the Default Rate, attorneys' fees incurred in col Parcel ftom the date such Cost Share, or any Installment payment thereof. becomes deUnquent. and such lien may be enforced by foreclosure thereof in the same manner as a mortgage either by action or by advertisement, the power of sale being hereby expressly granted. However, such lien shall be subordinate to the Hen of any first mortgage on a Parcel, and the sale or transfer of a Parcel mortgage extinguish the Hen of such Percentage Share as to payments thereof which became due prior to such sale or transfer. No such sale or transfer shall relieve a Parcei or Ha Owner from liability for any installments of Easement Area Costs thereatter becoming due or from the Hen thereof. Any lien dabn filed for record pursuant hereto shaH tarmin a tB one (1) year after the filing thereof, unless a foreclosure by advertisement or by action has been IntHated before the end of the one*year period. In addition, each such inctoMment of Easemerrt Area Costs, i i •^1