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15 <br />amount equal to the deficit until paid. If Declarant does not utilize an <br />alternate common expense plan, Declarant is not liable to make up <br />any operating deficit. <br /> <br />(ii) The existence and amount, if any, of the operating deficit shall be <br />determined using the accrual method of accounting applied as of the <br />date of termination of the Declarant Control Period, regardless of the <br />accounting methodology previously used by the Association to <br />maintain its accounts. <br /> <br />(iii) Unless approved by a vote of the Unit Owners other than the <br />Declarant and its affiliates, the operating deficit shall not be made <br />up, prior to the election by the Unit Owners of a Board of Directors <br />pursuant to section 515B.3-103(d) of the Act, through the use of a <br />special assessment or by assessments described in subsections <br />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 <br />against that Unit from the time the Assessment becomes due. If an Assessment is payable in <br />installments, the full amount of the Assessment is a lien from the time the first installment <br />thereof becomes due. Fees, charges, late charges, fines and interest charges imposed by the <br />Association pursuant to Section 515B.3-102(a)(10), (11) and (12) of the Act are liens, and are <br />enforceable as Assessments, under this Section 6. Recording of the Declaration constitutes <br />record notice and perfection of any lien under this Section 6, and no further recordation of any <br />notice of or claim for the lien is required. Notwithstanding the foregoing, in the event that the <br />Association records a notice of lien against a Unit, the Association will be deemed to be a <br />purchaser for purposes of the Recording Act, Minnesota Statutes §507.34, as of the date that the <br />lien document is properly recorded. Past due assessments, and amounts enforceable hereunder as <br />assessments, shall bear interest at the rate established with respect to judgments under Minnesota <br />Statutes Section 549.09. The release of the lien shall not release the Owner from personal <br />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 <br />a Unit under the laws of the State of Minnesota (i) by action, or (ii) by advertisement in a like <br />manner as a mortgage containing a power of sale. The Association, or its authorized <br />representative, shall have the power to bid in at the foreclosure sale and to acquire, hold, lease, <br />mortgage and convey any Unit so acquired. The Owner and any other Person claiming an interest <br />in the Unit, by the acceptance or assertion of any interest in the Unit, grants to the Association a <br />power of sale and full authority to accomplish the foreclosure. The Association shall, in addition <br />to its other remedies, have the right to pursue any other remedy at law or in equity against the <br />Owner who fails to pay any Assessment or charge against the Unit. <br /> <br />6.10. Lien Priority: Foreclosure. A lien for Assessments is prior to all other liens and <br />encumbrances on a Unit except (i) liens and encumbrances recorded before the Declaration, (ii) <br />any first mortgage on the Unit, and (iii) liens for real estate taxes and other governmental <br />assessments or charges against the Unit. Notwithstanding the foregoing, if (1) a first mortgage on <br />128