05-24-1999 Council Packet - Laserfiche WebLink

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7.1.4 Mainienance, for purposes of this Declaration, sltall include, but not be limited to, as necessary ’, any hazard and liability insurance deemed necessar\‘ by titc Association. Section 7.2 r-nforcenteni of Covenams and Restrictions The .Association shall be responsible for the enforcement of the covenants and restrictions contained in this Declaration. ARTICLE Vm ASSESSMENTS Section 8.1 Creation of Assessments. The Declarant, for each L(n owned by it, hereby covenants, and each OwTter of any Lot. by acceptance of a deed for a Lot, whctiier or not it shall be so expressed in the deed or any-conveyance, is deemed to agree to pay to the Association: (a) Annual Assessments, and (b) any Individual Lot Maintenance Assessments levied against the Owner’s Lot pursuant to the provisions of this Declaration. Section S.2 Purpose of Annual .Assessments. The Annual .Assessments shall be levied for the purpose of paying the costs associated with the duties of the Association as set forth in this Declaration, together with the incidental costs of operating the Association. Section 8.3 T.ew of Annual Assessments. The Annual Assessment must be fixed at a uniform rate for all lots. Section 8.4 Common Expense Assessments. Common Expense Assessments shall be allocated equally among all Lots. Section 8.5 Individual Lot Maintenance Assessments. In the event that any Owner violates any covenant or fails to penorm any term, covenant or condition contained in this Declaration, the Association may perform the act, remove the defect or correct the violation upon thirty (30) days written notice to the Owner and may levj' an assessment to pay the cost thereof (hereinafter, . “Individual Lot Maintehance Assessment") against such Owner’s Lot. Section 8.6 Rffect nf Nonpa\>ment of Assessments: Remedies of Association . The Annual Assessments and Individual Lot Maintenance Assessments shall be fixed as provided in this Declaration.' If any such assessment is not paid when due, it shall become delinquent and shall, together with interest at a rate of eight percent (8%) per annum, any cost of collection and any attorney ’s fees, become a continuing lien on the Lot and shall also be the personal obligation of the Owner of the Lot at the time the assessment is made. The lien may be enforced and foreclosed by action •n the same maimer in which mongages may be foreclosed in Minnesota. Each Owner, by acceptance of a deed ior any Lot, shall be deemed to give full and complete power of sale to the .Association and to consent to a foreclosure of the lien by advenisement. The Association may also bring an action at law against the Owner personally obligated to pay the assessment. Section 8.7 .SuhorHination of Lien to Fifst Mongages . The lien of .Assessments provided for herein shall be subordinate to the lien of any first .Mongage, and the sale or transfer of any Lot shall not affect the A.ssessment lien. However, the sale or transfer of any Lot pursuant to the DUSSEDS091M.9 8