05-24-1999 Council Packet - Laserfiche WebLink

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r' 7.1.4 Malmenance, for purposes of ihis Declaration, shall include, but not be limited to, as necessary', any hazard and liability insurance deemed necessar\‘ by the .Association. Section 7.2 Hnforcenteni of Cov’enants and Restrictiops 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 Asses.sments. The Declarant, for each Li*i owned by it. hereby covenants, and each Owmer of any Lot. by acceptance of a deed for a Lot. whether 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 Puniose 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 fonh in this Declaration, together with the incidental costs of operating the Association. Section 8.3 Lew of Annual ,Asse.<:sments. 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 \nolates any covenant or fails to perform any term, covenant or condition contained in this Declaration, the Association may pe.-form the act, remove the defect or correct the violation upon thirty (30) days written notice to the Owner and may le\7 an assessment to pay the cost thereof (hereinafter, “Individual Lot Maintenance Assessment”) against such Owner’s Lot. Section 8.6 Effect of Nonpa\Tnent of .Assessments* Remedies of .Associ.atinn . 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 in the same manner in which mortgages may be foreclosed in Minnesota. Each Owner, by acceptance of a deed for 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 advertisement. The .Association may also bring an action at law against the Owner personally obligated to pay the assessment. Section 8.7 Subordination of Lien to First Mortgages The lien of .Assessments provided for herein shall be subordinate to the lien of any first Mongage, and the sale or trr.nsfer of any Lot shall not affect the Assessment lien. However, the sale or transfer of any Lot pursuant to the BUSSED 5091K6.9