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<br />#10634702v3 <br /> <br />12 <br />in whole or in part (i) the cost of any unforeseen or unbudgeted Common Expense, (ii) <br />general or specific reserves for maintenance, repair or replacement, and (iii) the <br />maintenance, repair or replacement of any part of the Property, and any fixtures or other <br />property related thereto. <br /> <br />6.4 Liability of Owners for Assessments. The obligation of an Owner to pay assessments <br />shall commence at the later of (i) the time at which the Owner acquires title to the <br />Homesite, or (ii) the due date of the first Assessment levied by the Board; provided, that <br />neither Declarant nor a Homebuilder, nor any Homesite owned by such party, shall be <br />liable for any Assessment, nor subject to any Assessment lien, for any period, as long as <br />there is no one residing in the Dwelling located on the Homesite. Subject to the <br />foregoing exemption, the Owner at the time an assessment is payable with respect to the <br />Homesite shall be personally liable for the share of the Common Expenses assessed <br />against such Homesite. Such liability shall be joint and several where there are multiple <br />Owners of the Homesite. The liability is absolute and unconditional. No Owner is <br />exempt from liability for payment of his or her share of Common Expenses by right of <br />set-off, by waiver of use or enjoyment of any part of the Property, by absence from or <br />abandonment of the Homesite, by the waiver of any other rights, or by reason of any <br />claim against the Association or its officers, directors or agents, or for their failure to <br />fulfill any duties under the Governing Documents. The Association may invoke the <br />charges, sanctions and remedies set forth in Section 13, in addition to any remedies <br />provided elsewhere in the Governing Documents or by law, for the purpose of enforcing <br />its rights hereunder. <br /> <br />6.5 Assessment Lien. The Association has a lien on a Homesite for any assessment levied <br />against that Homesite from the time the assessment becomes due. If an assessment is <br />payable in installments, the full amount of the assessment is a lien from the time the first <br />installment thereof becomes due. Fees, charges, late charges, fines and interest charges <br />imposed by the Association in a manner consistent with Section 515B.3-102(a)(10), (11) <br />and (12) of MCIOA are liens, and are enforceable as assessments, under this Section. <br />Recording of the Declaration constitutes record notice and perfection of any lien under <br />this Section, and no further recordation of any notice of or claim for the lien is required. <br /> <br />6.6 Foreclosure of Liens; Remedies. A lien for Common Expenses may be foreclosed <br />against a Homesite under the laws of the State of Minnesota (i) by action, or (ii) by <br />advertisement as a lien under a mortgage containing a power of sale. The Association, or <br />its authorized representative, shall have the power to bid in at the foreclosure sale and to <br />acquire, hold, lease, mortgage and convey any Homesite so acquired. The Owner and <br />any other Person claiming an interest in the Homesite, by the acceptance or assertion of <br />any interest in the Homesite, grants to the Association a power of sale and full authority <br />to accomplish the foreclosure. The Association shall, in addition, have the right to pursue <br />any other remedy at law or in equity against the Owner who fails to pay any assessment <br />or charge against the Homesite. <br /> <br />6.7 Lien Priority; Foreclosure. A lien under this Section is prior to all other liens and <br />encumbrances on a Homesite except (i) liens and encumbrances recorded before the <br />Declaration, (ii) any first mortgage on the Homesite, and (iii) liens for real estate taxes <br />and other governmental assessments or charges against the Homesite. Notwithstanding <br />the foregoing, if a first mortgage on a Homesite is foreclosed, and the first mortgage was <br />350