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� . at the closing for any prior contributions made by Declarant to the working capital fund with - respect to that Unit. 6.6 Liabilitv of Owners for Assessments. Subject to Section 6.7, the obligation of an Owner to pay Assessments shall commence at the �ater of (i) the time at which the Owner . acquires titie to th$ Unit ar(ii) the due date of the first Assessment levied against the Unit by t�ie Board. The Owner at the time an Assessment is payable with respect to the Unit sha11 be personally liable for the share of the Common Expenses assessed against such Unit. Such liability shall be joint and several where there are multiple Owners of the Unit. The liability is absolute and unconditional. No Owner is exempt from ]iability for payment of Assessments by � right of set-off, by waiver of use or enjoyment of any part of the Property, by absence from or abandonment of the Unit, by the waiver of any other rights, or by reason of any.ciaim against Declarant, the Association, or the Association's officers, directors, or agents, or far their failure to fulfill any duties under the Governing Documents or the Act. ' 6_7 Declarant's Alternative Assessment Pro�ram. The following altemative Assessment program is established pursuant to Section SISB,3-115(a)of the Act. 6.7.1 Notwithstanding anything to the contrary in the Governing Documents, if an Assessment has been Jevied, Declarant may elect to have any unsold Unit owned by it assessed at the rate of twenty-five percent of the Assessments (exclusive of replacement reserves) levied on that Unit and other Units of the same type until a final certificate of occupancy or comparable City approval has been issued with respect to such Unit by the City. b.7.2 The provisions of Section 6.7.1 sha11 not affect the share of replacement reserves for Units owned by Declarant, which reserves must be funded by Declarant as . required by Section St5$.3-1 ES of the Act. However, Lhere are no assurances that Declarant's reduced Assessment obligations will not affect the level of services for other items set forth in the Association's badget. 6.7.3 Declarant's reduced assessment obligation shall apply to each Unit owned by Declarant at the time that any Assessment is levied against the Unit, and shall tenninate with respect to each such Unit upon the issuance of a final certificate of occupancy or comparable City approval for the Unit. 6.7.4 Notwithstanding the foregoing, Deciarant shall be obligated to, within sixty days following the termination of the Declarant Control Period, to make up any operating deficit incurred by the Association during the Declarant Control Period. b.8 Assessment Lien. The Association has a lien an a Unit for any Assessment levied againsf that Unit from the time the Assessment becomes due. If an Assessment is payable in installments, the full amount of the Assessment is a lien from the time the first installment thereof becomes due. Fees, charges, late charges, fines, and interest charges imposed by the Association pursuant to Section S15B3-102(a){10), (1 I), and (12} of the Act are liens, and are enforceable as Assessments, under this Section 6. Recording of this Declaration constitutes record notice and perfection of any lien under this Section 6, and no further recordation of any MPLS-Word 95251.I 1 �p