Book: b327 Page: 3968
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Section 4.8.. Foreclosure. In the event that any institutional first mc,rtgagee (defined as a chartered Bank, a chartered Savings and Loan Association, or the Developet·) shall acquire title to any Lot or Dwelling Unit by foreclosure, judicial scale, documents of transfe1~ from a governmental entity or documents of transfer from the mortgagor or his receiver, trustee irt bankruptc.y, personal representative, successors or assigns, then such institutional fust mortgagee shall take title subject to, the lien or liens of the Associations, no to exceed the aggregate of assessments c-harged by the Associations to suc.h Lot or Dwelling Unit during the twelve month period immediately preceding the date such institutional first mortgagee acquires title to the Lot or Dwellin~~ Unit shall be liable or obligated for the payment of any assessments which were charged to the Lot tJr Dwelling Unit more than twelve months prior to the date the institutional frrst mortgagee acqulred title to the Lot or Dwelling Unit, except a pro-rata share as follows: In the event of t.he acquisition of title as aforesaid, any assessments or assessments as to which the institutional first mortgagee so acquiring title shall not be fully liable, shall be absorbed and paid by all the OV{ll.e:rs of all the Lots and Dwelling Units; provided, however, that nothing contained herein nor any action taken by said institutional first mortgagee shall be construed as releasing the prior owner from liability for such delinquent assessments or construed as a waiver of the applicable Association's right to legally enforce collection from the prior owner. ht the event that any institutional first mortgagee shall acquire title to any Lot or Dwelling Unit as described above in this Sectio11 4.8, the mortgagee so acquiring title shall also be liable and obligated for such assessments as 1nay accrue to said Lot subsequent to the date of acquisition of such title a Sectipn 4.9. Li~ns for Assessments.- Recognizing that proper management and operation of all the areas of the Venetian Bay Community benefits all owners of Lots or Dwelling Units, the Association are hereby granted a lien upon all the Lots and Dwelling Units ,mthin the Venetian Bay Community and the present and future interests of each Lot and Dwelling Unit owner in the Common Areas, Drainage Areas, Consenration Easen1ent Areas and improvements thereof, to secure the prompt payment of each and all assessments made and levied in accordance with tlns Declaration. Each Lot and Dwelling Unit owner shall be liable for, and tltls lien shall secure, the full amoW1t of said assessment including reasonable attorney's fees, deposition costs (whether or not depositions are used at trial), reasonable expert witness fees and costs (whether or not expert testifies at trial), postage, long distance, telephone, travel, lodging and meal costs which are incurred (either prior to trial, at trial, on appeal or on retrial) by any of the i•\ssociation with respect to enforcement or interpretation of the provisions of this Declaration.~ or of the Articles of Incorporation or the B)'- Laws of any of the Associations. 18
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