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. '.. . . at the closing for any prior contributions made by Declarant to the working capita! fund with • respect to that Unit. j 5.b Liability of Owners for Assessments. Subject to Section 6.7,the obligation 0f an Owner to pay Assessments shall commence at the later of (i) the time at which the O er � acquireS titie to the Unit or(ii) the dne date of the first Assessment levied against the Unit b the Board. The Owner at the time an Assessment is payable with respect to the Unit sh t be personally liable for the share of the Common Expenses assessed against such Unit. uch liability shall be joint and several where there are mqltiple Owners of the Unit. The liabil ty is absoluUe and unconditional. No Owner is exempt from liabitity for payrnent of Assessme ts by. right o�'set-off, by waiver of use or enjoyment of any part of th� Property, hy absence fr m or abandanment of the Unit, by the waiver of any other rights, or by reason of any claim a ainst Declarant, the Association, or the Association's officers, directors, or agents, or for their f ilure to fulfill any duties under the Governing Documents or the Act. I � '6.7 Declarant's Alternative Assessment Program.. The following alter�ative Assessment program is established pursuant to Section 515B.3-115(a)of the Act. � I 6.7.1 Notwithstanding anything to the contrary in the Goveming Docume ts, if an Assessment has been:levied, Declarant may e]ect to have any unsold Unit owne�by it � assessed at the rate of twenty-five percent of the Assessments (exclusive of replac ment reserves) levied on that Unit and other Units of the same type until a final certific�ate of occupancy or comparable City approval has been issued with respect to such Unit�y the City. � b.7.2 The provisions of Section 6.7.1 shall not affect the share of repla ement reserves for Units owned by Declarant, which reserves must be funded by Decla ant as � required by Section S15B.3-1I5 of the Act. However, there are no assuranc�s that Declarant's reduced Assessment obligations will not affect the level of services fo other items set forth in the Association's budget. I 6.73 Declarant's reduced assessment obligation shall apply to each Unit owned by Declarant at the tirne that any Assessment is levied against the Unit, an�3 shall terminate with respect to each such Unit upon the issuance of a final certifi�ate of occupancy or comparable City approval for the Unit. 6.7.4 Notwithstanding the foregoing, Deciarant shall be obligated to,j within sixty days following the termination of the Declarant Control Period, to make lup any operating deficit incurred by the Association durin�the Declarant Controi Period.i ' b.8 Assessment Lien. The Association has a lien an a Unit for any Assessme t levied agaii�st that Unit from the time the Assessment becomes due. If an Assessment is pa able in inst�'llments, the full amount of the Assessment is a lien from the time the first ins allment ther�of becomes due. Fees, charges, late charges, Fines, and interest charges impose hy the Assc�ciation pursuant to Section S15B.3-102(a){10), (11), and (12) of the Act are liens, and are enfa'rceable as Assessments, under this Section 6. Recording of this Declaration co stitutes recard notice and perfection of any lien under this Section 6, and no further recordatio of any MPL�-Word 95281.11 ��