09-28-2005 Council Agenda - Laserfiche WebLink

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Board of Directors. The Owner of a Lot shall be liable for its pro -rata share of the annual assessments on the first day of the month following the conveyance of the Lot. The first annual assessment shall be pro -rated according to the number of months remaining in the calendar year. At the time the Board fixes the amount of annual assessments it shall adopt a budget for the following calendar year and cause a copy of such budget in reasonable detail to be furnished to each Owner. Section 9. Proof of Payment. Upon written demand of an Owner at any time, the Association shall furnish such Owner a written certificate signed by an officer of the Association setting forth whether there are any then unpaid annual or special assessments levied against such Owner's Lot. Such certificate shall be conclusive evidence of payment of any annual or special assessments not stated therein as unpaid. Section 10. Nonpayment of Assessments. Any assessments which are not paid when due shall be deemed delinquent. If an assessment is not paid within thirty (30) days after the delinquency date, it shall bear interest from the delinquency date at the rate of eight percent (8 %) per annum and shall become a continuing lien in favor of the Association on the Lot against which assessed and the Association may bring an action at law or in equity against the person personally obligated to pay the same, including interest, costs and reasonable attorneys' fees for any such action, which shall be added to the amount of such assessment and included in any judgment rendered in such action, and the Association may also enforce and foreclose any lien it has or which may exist for its benefit. Section 11. Recording and Enforcement of Liens. To evidence a lien for sums assessed pursuant to this Article, the Association may prepare a written notice of 7