Agmt02 Maria La Rocca Estates - Laserfiche WebLink

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or employees of the Association. Howevex, the authority to levy fines, hold hearings, impose discipline, m~ke capital expenditures, file suit on behalf of the Association, r,~cord a claim of lien or institute foreclosure proceedings for failure to pay assessments, may not be delegated to an officer, emplc ~ee or committee. Subsection 2.11 Power of Attorney: :ach owner, for himself~. his successors and assigns, shall be dee/ne, upon purchasing his Lot to have appointed the officers of the Asso :iation, or any of them, as his true and lawful attorney, in his n ~ne,. place and stead, to prosecute, settle and/or release any cl~ ims arising out of the owner's acquisition and/or joint ownershi~ of the common areas of the project. Such power shall be utilized only upon express authorization of the Board given by resolution adopted by the Board at a meeting for which all members are given advance written notice specifying the nature of the proposed acti¢ for which the power of attorney is to be utilized. ARTICLE V ASSESSMENTS Section 1 Covenants for Mainten~nG~ A~sessm~n~$: Declarant hereby covenants and agrees for each Lot owned by it within the Project~ and each Owner of any Lot by acceptance )f a deed is deemed to covenant and agree, to pay to the Association the assessments levied pursuant to this Article. Declarant and each Owner thereby vest in the Association the right to brii~g all actions for the collection of such charges and for the e~forcement of the lien created hereby. Such right remains with t ~e Association and such obligmtions run with the land so that eai:h successive Owner or Owners of record of a Lot in the Project wi'.l become liable to pay all assessments which become a lien durinc the time they are the record Owner of any Lot in the Project. Each ~ssessment levied by the Assoclatzon under this Article constitutes a separate assessment. Each assessment, together with interest thereon, costs of collection ant reasonable attorneys' fees, will be a charge on the Lot and be a continuing lien upon the Lot against which such ass~ ~ sment is made. The Association, as the agent of all Lot Owner , has a separate lien and a separate lien with power of sale is he~eby created, upon each Lot against which an assessment is made to secure the payment of any assessments under this Article. E~ch such lien for any 18