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<br />(ii) The existence and amount, if any, of the operating deficit shall be determined
<br />using the accrual method of accounting applied as of the date of termination of
<br />the Declarant Control Period, regardless of the accounting methodology
<br />previously used by the Association to maintain its accounts.
<br />
<br />(iii) Unless approved by a vote of the Unit Owners other than the Declarant and its
<br />affiliates, the operating deficit shall not be made up, prior to the election by the
<br />Unit Owners of a Board of Directors pursuant to section 515B.3-103(d) of the
<br />Act, through the use of a special assessment or by assessments described in
<br />subsections 515B.3-1151(e), (f), and (g) of the Act.
<br />
<br />6.8. Assessment Lien. The Association has a lien on a Unit for any Assessment levied against that
<br />Unit from the time the Assessment becomes due. If an Assessment is payable in installments, the full amount of
<br />the Assessment is a lien from the time the first installment thereof becomes due. Fees, charges, late charges,
<br />fines and interest charges imposed by the Association pursuant to Section 515B.3-102(a)(10), (11) and (12) of
<br />the Act are liens, and are enforceable as Assessments, under this Section 6. Recording of the Declaration
<br />constitutes record notice and perfection of any lien under this Section 6, and no further recordation of any notice
<br />of or claim for the lien is required. Notwithstanding the foregoing, in the event that the Association records a
<br />notice of lien against a Unit, the Association will be deemed to be a purchaser for purposes of the Recording
<br />Act, Minnesota Statutes §507.34, as of the date that the lien document is properly recorded. Past due assessments,
<br />and amounts enforceable hereunder as assessments, shall bear interest at the rate established with respect to
<br />judgments under Minnesota Statutes Section 549.09. The release of the lien shall not release the Owner from
<br />personal liability unless agreed to in writing by the Association.
<br />
<br />6.9. Foreclosure of Lien: Remedies. A lien for Assessments may be foreclosed against a Unit under
<br />the laws of the State of Minnesota (i) by action, or (ii) by advertisement in a like manner as a mortgage containing
<br />a power of sale. The Association, or its authorized representative, shall have the power to bid in at the foreclosure
<br />sale and to acquire, hold, lease, mortgage and convey any Unit so acquired. The Owner and any other Person
<br />claiming an interest in the Unit, by the acceptance or assertion of any interest in the Unit, grants to the Association
<br />a power of sale and full authority to accomplish the foreclosure. The Association shall, in addition to its other
<br />remedies, have the right to pursue any other remedy at law or in equity against the Owner who fails to pay any
<br />Assessment or charge against the Unit.
<br />
<br />6.10. Lien Priority: Foreclosure. A lien for Assessments is prior to all other liens and encumbrances
<br />on a Unit except (i) liens and encumbrances recorded before the Declaration, (ii) any first mortgage on the Unit,
<br />and (iii) liens for real estate taxes and other governmental assessments or charges against the Unit.
<br />Notwithstanding the foregoing, if (1) a first mortgage on a Unit is foreclosed, (2) the first mortgage was recorded
<br />on or after the date of recording of this Declaration, and (3) no Owner redeems during the Owner’s period of
<br />redemption provided by Minnesota Statutes Chapters 580, 581, or 582; then the holder of the sheriffs certificate
<br />of sale from the foreclosure of the first mortgage or any person who acquires title to the Unit by redemption as
<br />a junior creditor shall take title to the Unit subject to a lien in favor of the Association for unpaid Assessments
<br />or installments thereof levied pursuant to Sections 515B.3-115(a), (e)(l) to (3), (f), and (i) of the Act which
<br />became due, without acceleration, during the six months immediately preceding the first day following the end
<br />of the Owner’s period of redemption.
<br />
<br />6.11. Real Estate Taxes and Assessments. Real estate taxes, special assessments, and other charges
<br />and fees which may be levied against the Common Elements by governmental authorities, shall be allocated
<br />among and levied against the Units based upon their respective percentage interests in the Common Elements as
<br />set forth in Exhibit A, and shall be a lien against each Unit in the same manner as a lien for real estate taxes and
<br />special assessments levied against the Unit alone.
<br />
<br />6.12. Voluntary Conveyances: Statement of Assessments. In a voluntary conveyance of a Unit the
<br />buyer shall not be personally liable for any unpaid Assessments and other charges made by the Association
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