Instrument #2022025031 #26 Book:8196 Page:4797
the date on which such Assessment is due. Each Assessment shall also be the personal obligation ofeach person or entity who was an Owner ofthe Lot at the time the Assessmentfell due. Declarant will never be obligated to pay any Individual Assessment or Start-Up Assessment. (b) Ifany Assessment or installment thereon is not paid when due,then such Assessment shall be delinquent and the delinquent Assessment shall be secured by a continuing lien on the Lot as to which the Assessment accrued, and upon any Dwelling located thereon. The Association may Record a lien against any Lot to secure payment of Assessments that remain unpaid for a period of thirty (30) days or longer after becoming due (the "Assessment Lien"). Any Assessment Lien shall be prior to all other liens created except (i) ad valorem real estate taxes and assessments levied by any Governmental Authority,(ii)the lien ofany Mortgage(expressly subject to the Mortgagee's compliance with FL. STAT. §720.3085(2)(c), as amended, restated or re-codified from time to time, and said Mortgagee's payment of all unpaid Assessments resulting from said Mortgagee's compliance with, or failure to comply with, said statute), and (iii) other liens which by Law would be superior. To the fullest extent permitted by Law, any Assessment Lien shall be prior to and superior in dignity to the Owner's homestead status. Any Assessment Lien shall bind the Lot and any Dwelling located thereon in the hands of the then Owner and of each subsequent Owner. The personal obligation of the Owner to pay such delinquent Assessment shall remain that Owner's personal obligation for the statutory limitations period and personal liability shall not pass to successors in title ofthe Lot unless expressly assumed by them. (c) If the delinquent Assessment or installment thereon is not paid within thirty(30)days after the due date, the same shall bear interest from the date due at the highest lawful rate in Florida, or at such lesser rate as may be determined by the Board and uniformly applied, and the Association may bring an action for collection against the Owner personally obligated to pay the same and to foreclose the lien against the Lot and any Dwelling located thereon by judicial foreclosure in the same manner as foreclosure of a mortgage, and there shall be added to the amount of such delinquent Assessment the aforesaid interest, late charges, collection costs, expenses and attorneys' and paralegals' fees,and all ofthe foregoing shall be recoverable whether or not suit be brought. The Owner shall also be required to pay to the Association any Assessments against the Lot which become due during any period offoreclosure by the Association. The Association, acting on behalf ofthe Owners, shall have the right and power to bid for any Lot at any foreclosure sale and to acquire the same via foreclosure or a deed in lieu thereof and thereafter hold, lease, mortgage, and convey the same. During the period in which a Lot is owned by the Association following foreclosure or a deed in lieu thereof:(x)no right to vote shall be exercised on said Lot;(y)no Assessment shall be assessed or levied on said Lot; and (z)each other Lot shall be charged, in addition to its Assessments, its pro rata share ofthe Assessment that would have been charged the subject Lot had it not been acquired by the Association as a result offoreclosure or a deed in lieu thereof. Suit to recover a money judgment against an Owner or Lot for unpaid Common Expenses, Assessments,and all costs,expenses,and fees incurred by the Association in connection with such action, including, but not limited to, interest as provided herein, along with reasonable attorneys' and other legal fees to be fixed by the court, together with all other costs, expenses, and fees of the action, shall be maintainable by the Association withoutforeclosing or waiving the lien securing the same. (d) In addition to any other rights and remedies ofthe Association hereunder or under Florida law in connection with an Owner's or Member's failure to timely pay Assessments or any installments thereof, the Association may also charge an administrative late fee ("Late Fee") not to exceed the greater of Twenty-Five and No/100 Dollars ($25.00) or five percent(5%) percent of the amount of each installment that is paid past the due date. If in the future, Section 720.3085(3)(a) is amended to permit the Association to charge a higher Late Fee,then the immediately preceding sentence shall be deemed automatically amended to permit the Association to charge such higher Late Fee.
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58771933;7
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