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Sections 13.01 and 22.07 below. Tlle assessment shall be a personal obligation of the owner and a <br /> lien against the Unit with the same priority and enforceability as any lien for annual or special <br /> assessmei�.ts. <br /> 10.05 Commencement of Initial Annual Assessments. The anniaal assessments pxovided for <br /> herein shall commence as to all Units not later than one manth after the first conveyance of a Unit tc� <br /> an owner other than Declarant. The first annual �ssessment shall be adjusted according to the <br /> number of mont�is remaining in the calendar year. <br /> 10.06 Commencement of Annual Assessments. By November 30 of each year the Board <br /> shall fix the amount of annual assessn2ents against each Unit f'ar the foliowing fiscal year and shall <br /> send written notice thereof to each owner. The due date for payment of annual assessments shall be <br /> as set by the Board. At the time the Board fixes the amount of anniial assessments it shall adopt a <br /> budget for the following fiscal year and cause a copy of such budget in reasonable c�etail to be <br /> funushed to each owner. <br /> 10.07 Lien Prioritv; Foreclosure. A lien Luider thi.s Section is prior to all other liens and <br /> encumbrances on a Unit except(i)liens and encuinbrances recorded before the Declaration,(ii) any <br /> first martgage on the Uzut,and(iii)liens for real estate taxes and other governmental assessments or <br /> charges against the Unit. Notwithstanding the foregoing,if a first mortgage on a Unit is foreclosed, <br /> the first mortgage was recorded oii or after Ju.ne 1, 1994,and no owner redeems d��ring the own�r's <br /> period of redemption provided by Chapters 580, 581, and 582, then the holder of the sheriffs <br /> certificate of sale from the foreclosure of the first mortgage shall take title to the Unit subject to <br /> unpaid assessments for Conunon Expenses levied pl�rsuant to Section S 15B.3�115(a),(e)(1)to(3), <br /> (�, and(i)of tk�e Act which becasne due,without acceleration, dur�ng the six months inunediately <br /> preceding the first day following the end of the owner's period of redemption, <br /> 10.08 Voluntarv Convevances; Statement of Assessments. In a voluntary conveyance of a <br /> Unit the buyer shall not be personally liable for any unpaid assessments and other charges made by <br /> the Association against the seller or the seller's Unit prior to the time of conveyance to the buyer, <br /> unless expressly assumed by the buyer. However,the Iien of such assessinents shall remain against <br /> the Unit until satisfied. Any seller or buyer shall be entitled to a sta.tement,in recordable fornn,from <br /> the Association setting forth the amount of the unpaid�ssessments against the Unit, including alI <br /> assessmenis payable in the Association's current fiscal year,which stateinent shall be binding on the <br /> Association, seller and buyer. <br /> 10.09 Alternative Assessment Program. "rhe Declarant hereby establishes an alternative <br /> assessment program of the type described in Section 51 SB.3-115(a)(1)of the Act. Specifically,if a <br /> cammon expense assessment has been levied, any Unit owned by Declarant for initial sale shall be <br /> assessed at the rate of 25%of the assessment levied on other Units of the same type until a certific�te <br /> of o�ccupancy has beeil issued with respect to such Unit by the municipa�ity in which the Uiut is <br /> located. Thereaft�er,such Unit will be assessed at the full rate. This reduced assessment shall apply <br /> to each Unii owned by Declarant at tlie time that the Unit is created, and shall continue as to each <br /> such Unit until the i�suai�ce of tl��certi£icate of occupancy as previously described. In any event, <br /> 7 <br />