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ARTICLE IV
COVENANTS AND MAINTENANCE ASSESSMENTS
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Section 4.1 Creations of Lien and Personal Obligation. The De·veloper agrees to, and each o\VIler and each tenant of each Lot or Dwelling Unit shall, by acceptance of a deed or other i11strument of conveyance or lease, whether or not it shall be so expresse 1 d in any such deed or instrument, be deemed to have agreed to all terms, co,,enants, conditions, restrictions, and other provisions of thls Declaration and to have agreed to promptl 1 r pay to or 011 behalf of the Owners Association and, if applicable, one of the Neighborhood Associations or their successors or assigns, the following: (a) All quarterly assessments or charges (whether collected quarcerly or annually); and (b) All special assessments or charges for tl1e purposes set forth in Section 4.2 of this Declaration that shall be fxxed, established, levied, and collected from time to time as hereafter provided. Annual and special assessment by any or all Associations (together with such interest thereon J\nd the cost of collection including reasonable attorneys' fees ;as hereinafter provided) shall be a charge and continuing lien on the real property and improvements thereon against which such assessment is made, whether or not a claim of lien is filed. Each w,sessment (together with such interest thereon and the costs of collection including reasonable attorneys' fees as above established) shall also be the personal obligation of the person who was the ovmer of such Lot or Dwelling Unit at the time when the assessment first become due and payable, and also the joint and several personal obligation of any subsequent grantees who take title to the Lot or Dwelling Unit without first obtaining a letter from the Associations as herein provided to the effect that there are no outstanding assessments against the Lot or Dwelling Unit being pur,~hased. In the case of co- ownership pr co- tenancy of a Lot or Dwelling Unit, each owner or kmant shall be jointly and severally liable for the entire amount of the assessments and the aforesaici interest, collection costs, and reasonable attorneys' fees. Prospective purchasers are hereby notified of the possible charge against the Lots and Dwelling units in the Venetian Bay Community. Se(.9on 4.2~ Purpose of Assessments .. Assessments levied by an.y of the Associations shall be exclusively: (a) to improve, maintain, enhance, enlarge, protect, mo1litor and operate the areas within their respective ovmership or control as specified in this Declaration; (b) to cover operating and administrati,re expenses; (c) to fund services and benefits which that particular Association is authorized to provide, including, but not limited to: insurance; constn.1ction; maintenance, repair and replacement of improvements; the escrowing of sufficient moru.€~s for specific purposes to 14
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