|
' /
<br /> forth the amount of the unpaid assessments against the grantor
<br /> duo the Association and such grantee shall not be liable for,
<br /> nor shall the condominium conveyed be subject to a lien for,
<br /> any unpaid assessments made by the Association against the
<br /> grantor in excess of the amount set forth in the statement,
<br /> provided, however, the grantee shall be liable for any such
<br /> assessment becoming due after the date of any such statement.
<br /> v
<br /> 4. 10 Priorities; Enforcement; Remedies: When a
<br /> notice of assessment has been recorded,sua-assessment shall
<br /> constitere a lien on each respective condominium prior and 1
<br /> 1 superior to all other liens except ( 1 ) all taxes, bonds,
<br /> assessments and other levies which, by law, would be superior
<br /> za, thereto, and (2 ) the lien or charge of any first mortgage of
<br /> cn
<br /> record (meaning any recorded mortgage or deeds of trust with
<br /> first priority over other mortgages or deed of trust) made
<br /> 4 in good faith and for value.
<br /> urn
<br /> w Such lien, when delinquent, may be enforced by
<br /> sale by the Association, its attorney or other
<br /> H by y person authorized
<br /> to make the sale, after failure of the owner to pay such
<br /> 04 assessment in accordance with its terms, such sale to be
<br /> conducted in accordance with the provisions of Sections 2924-2924H
<br /> of the California Civil Code, applicable to the exercise of
<br /> U powers of sale in mortgages and deeds of trust, or in any other
<br /> manner permitted by law.
<br /> The Association, acting on behalf of the condo- 1 '
<br /> minium owners, shall have the power to bid for the condominium
<br /> at foreclosure sale, and to acquire and hold, lease, mortgage ;i:"
<br /> and convey the same. During the period a unit is owned by the
<br /> ' Association, following foreclosure: (1 ) No right to vote shall Cel
<br /> be exercised on behalf of the unit; (2) No assessment shall be A
<br /> i assessed or levied on the unit; and (3) Each other unit shall Li.
<br /> be charged, in addition to its usual assessment, its equal
<br /> share of the assessment that would have been charged to such
<br /> unit had it not been acquired by the Association as a result
<br /> of foreclosure. Suit to recover a money judgment for unpaid
<br /> common expenses, rent and attorneys' fees shall he maintainable
<br /> without foreclosing or waiving the lien securing the same.
<br /> I The Board may temporarily suspend the voting
<br /> rights and/or rights to use the recreational facilities of a
<br /> member who is in default in payment of any assessment, after
<br /> i notice and hearing, pursuant to California Corporations Code
<br /> s7341 (5 days notice of hearing; 15 days notice of discipline) .
<br /> 4. 11 Unallocated Taxes: In the event that any taxes
<br /> are assessed against the common area, or the personal property
<br /> of the Association, rather than against the units, said taxes
<br /> shall be included in the assessments made under the provisions
<br /> ii of Section 4. 1 and, if necessary, a special assessment may be
<br /> levied against the units in an amount equal to said taxes, to
<br /> be paid in two installments, thirty (30) days prior to the due .
<br /> , date of each tax installment.
<br /> ek , -15-
<br /> r•,,
<br /> a ,.. ,t •J , �yi
<br /> ' of - tt .,i,- . ,. % 4 �y.,g"
<br />
|