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6. 1. F. - Page 37 Section 4.13 Delinquency of Assessment; Right to Lien All Annual and Special Assessments, or monthly installments thereof, levied pursuant to this Declaration are delinquent fifteen (15) days after they become due. For each delinquent Assessment, or monthly installment thereof, the Association may recover: (i) reasonable costs incurred in collecting the delinquent Assessment, or part thereof, including reasonable attorney's fees, (ii) a late charge not to exceed ten percent (10 %) of the delinquent Assessment or ten dollars ($10.00), whichever is greater, and (iii) interest on all sums imposed herein, including the delinquent Assessment, reasonable costs of collection and late charges at ten percent (10 %) per annum commencing thirty (30) days after the Assessment becomes due. The Association shall have the right to record a lien against the delinquent Owner and enforce such lien and foreclose upon Owner's interest in the Unit in accordance with the procedures described in Civil Code Section 1367. 1, as further described in Sections 4.15 and 4.16 of this Declaration. The Association's right shall be subject to the limitations imposed by Civil Code Section 1367.4 with respect to delinquent assessments that are less than One Thousand Eight Hundred Dollars ($1,800). Section 4.14 Transfer of Condominium by Sale or Foreclosure; Rights of First Mortgagees Sale or transfer of any Condominium shall not affect the Assessment lien. However, the sale of any Condominium pursuant to Foreclosure of a First Mortgage shall extinguish the Assessment lien of any Assessments on that Condominium (including attorneys' fees, late charges, or interest levied in connection therewith) as to payments which became due prior to such sale or transfer (except for Assessment liens as to which a Notice of Delinquent Assessment has been recorded prior to the Mortgage). Any First Mortgagee who obtains title to a Condominium pursuant to remedies in the Mortgage or through foreclosure will not be liable for more than six (6) months of the Unit's unpaid regularly budgeted Assessment accrued before acquisition of the title to the Unit by the First Mortgagee, and will be liable for fees or costs related to the collection of unpaid Assessments. The unpaid share of such Assessments shall be deemed to be Common Expenses collectible from all of the Condominium Owners including such acquirer, his successors or assigns. If a Condominium is transferred, the grantor shall remain liable to the Association for all unpaid Assessments against the Condominium through and including the date of the transfer. The grantee shall be entitled to a statement from the Association, dated as of the date of transfer, setting forth the amount of the unpaid Assessments against the Condominium to be transferred and the Condominium shall not be subject to a lien for unpaid Assessments in excess of the amount set forth in the statement, provided, however, the grantee shall be liable for any Assessments that become due after the date of the transfer. Section 4.15 Procedure for Perfection of Lien of Assessment hi the event any Assessment or monthly installment of an Annual Assessment is not paid within fifteen (15) days after the day upon which it becomes due, the Board may deliver a 'Notice of Delinquent Assessment" to the Owner of the Condominium assessed and may cause a copy of said Notice to be recorded in the Official Records of San Mateo County . Prior to recording the Notice of Delinquent Assessment, the Association shall provide the Owner with thirty (30) days prior written notice in accordance with the provisions of Civil Code Section 1367. 1, and shall offer to the Owner and, if so requested by the Owner, shall participate in dispute resolution pursuant to Civil Code Sections 1363.810- 1363.840 and any applicable successor statutes. Said Notice of Delinquent Assessment shall state the amount of the Assessment then due and unpaid which shall include interest, costs and reasonable attorneys fees, a legal description of the Condominium against which such Assessment has been levied, the name of the record Owner of such Condominium and the name and address of the trustee authorized by the Association to enforce the lien by nonjudicial foreclosure (if the Association so elects). Such Notice of Delinquent Assessment shall be signed by a representative designated by the Board, and mailed in the manner set forth in Section 2924(b) of the Civil Code, to all record Owners of the Condominium assessed, no later than ten (10) calendar days after recordation. When such a Notice of Delinquent Assessment has been recorded, the Assessment described therein shall constitute a lien upon the Condominium identified therein which lien shall be prior in right to all other liens thereafter arising except for all taxes, assessments or other levies which by law would be 27 CCRS -One Marina. docx