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05-18-2015 Planning Commission Packet
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05-18-2015 Planning Commission Packet
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first mortgage on a Lot. All other Pe�sons acqairing a lien on any Lot shall be deemed to have <br /> consented that such Person's lien shall be inferior to future liens for assessments as provided <br /> herein, whether or nat such consent is specifically set forth in the instrument creating such lien. <br /> To evidence a lien for surns assessed pursuant to this Article, the Association may <br /> prepare a written notice of lien, setting forth the amount of the assessment, the due date, the <br /> amount remaining unpaid, the name of the Defaulting Owner and a description of the Lot, and <br /> record t1�e same in the office of the Registrar of Titles in and for Hennepin County, Minnesota. <br /> Such lien may be enforced by judicial foreclosure or by foreclosur� by advertisement, in the <br /> same manner in which martgages on real property may be foreclosed in Minnesota, and each <br /> cuirent and future Owner, by becomi.ng an Owner, hereby grants to the Association a power of <br /> sale, to enable the A,ssociation to enforce the lien hereby created by non judici.ai proceedings. �n <br /> auy such foreclosure,the Defaulti.ng,Owner sball be required to pay the costs and eapenses�f the <br /> Association in collecting the assessments and/or enforcing the lien, all of which shall be secured <br /> by the lien being fvreclosed. In order to cause the Association to discontinue any foreclosure or <br /> any other proceedings to collect any assessment and/or to enforce any lien granted ptusuant to <br /> this Declaration, the Defaulting Owner shatl be abligated to pay all assessments against such <br /> Owner's Lot which shall havc become due as of the date of such payment, and all costs and <br /> expenses incurred by the A,ssociation in collecting the assessments and/or enforcing such lien, <br /> includi.ng reasonable attorney's fees. <br /> A release of notice of lien shall be executed by the Association in recordable form, and <br /> may be recorded at the Defaulting Owner's expense, upon payment of all sums secured by a lien <br /> which has been the suhject of a recarded notice of lien. <br /> 20 <br />
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