Lien for Assessments. The Association shall have a lien against each Lot to secure payment of delinquent assessments, as well as interest, late charges (subject to the limitations of applicable law), and costs of collection (including attorneys fees). Such lien shall be prior and superior to all other liens, except (a) the liens of all taxes, bonds, assessments, and other levies which by law would be superior, and (b) the lien or charge of any first Mortgage of record (meaning any recorded Mortgage with first priority over other Mortgages) made in good faith and for value. Such lien, when delinquent, may be enforced by suit, judgment, and judicial or nonjudicial foreclosure in accordance with the law of the situs of the property. The Association, acting on behalf of the Owners, shall have the power to bid for the Lot at the foreclosure sale and to acquire, hold, lease, mortgage, and convey the Lot. During the period in which a Lot is owned by the Association following foreclosure: (a) no right of vote shall be exercised on its behalf; (b) no assessment shall be levied on it; and (c) each other Lot shall be charged, in addition to its usual assessment, its equal pro rata share of the assessment that would have been charged such Lot had it not been acquired by the Association as a result of foreclosure. Suit to recover a money judgment for unpaid Common Expenses and attorneys fees shall be maintainable without foreclosing or waiving the lien securing the same. The sale or transfer of any Lot shall not affect the assessment lien or relieve such Lot from the lien for any assessments thereafter becoming due. However, the sale or transfer of any Lot pursuant to judicial or nonjudicial foreclosure of a first Mortgage shall extinguish the lien as to any installments of such assessments that became due prior to such sale or transfer. Where the Mortgagee holding a first Mortgage of record or other purchaser of a Lot obtains title pursuant to judicial or nonjudicial foreclosure of the Mortgage, it shall not be personally liable for the share of the Common Expenses or assessments by the Association chargeable to such Lot which became due prior to such acquisition of title. Such unpaid share of Common Expenses or assessments shall be deemed to be Common Expenses collectible from Owners of all Lots subject to assessment under Section 10.9, including such acquirer, its successors and assigns.
Lien for Assessments. There shall be a lien against a Unit for default in the payment of Assessments which shall also secure reasonable attorneys’ fees and other costs incurred by the Association incident to the collection of such Assessments or enforcement of such lien. Such lien shall be subordinate only to the lien of a first Mortgage recorded prior to the time of recording of the claim of lien for such unpaid Assessments; and the sale or transfer of any Unit pursuant to a foreclosure of such first Mortgage or any proceeding in lieu of foreclosure thereof, shall extinguish the lien of such Assessments as to the payment thereof which becomes due prior to such sale or transfer. No such sale or transfer shall relieve such Unit from liability for any Assessments thereafter becoming due or from the lien thereof. Each Assessment, together with interest, costs and attorney fees, shall also be the personal obligation of the Owner of the Unit at the time when the Assessment became due. The personal obligation for delinquent Assessments shall not pass to an Owner’s successors in title unless expressly assumed by such successors; but in all events, even after a transfer of title, the Association shall be entitled to enforce the lien for Assessments against the Unit to which such lien is applicable.
Lien for Assessments. Upon recording of a notice of lien on any Unit, there shall exist a perfected lien for unpaid assessments prior and superior to all other liens, except (1) all taxes, bonds, assessments and other levies which by law would be superior thereto, and (2) the lien or charge of any first Mortgage of record (meaning any recorded Mortgage with first priority over other Mortgages) made in good faith and for value. Such lien, when delinquent, may be enforced by suit, judgment and foreclosure. The Association, acting on behalf of the Owners, shall have the power to bid for the Unit at foreclosure sale and to acquire and hold, lease, mortgage and convey the same. During the period in which a Unit is owned by the Association following foreclosure: (a) no right to vote shall be exercised on its behalf; (b) no assessment shall be assessed or levied on it; and (c) each other Unit shall be charged, in addition to its usual assessment, its equal pro rata share of the assessment that would have been charged such Unit had it not been acquired by the Association as a result of foreclosure. Suit to recover a money judgment for unpaid common expenses and attorney’s fees shall be maintainable without foreclosing or waiving the lien securing the same.
Lien for Assessments. The Declarant shall have a lien against any Parcel to secure payment of delinquent Assessments, including interest, late charges (subject to the limitations of North Carolina law), and costs (including attorneys fees). Such lien shall be prior and superior to all other liens, except (a) the liens of all taxes, bonds, assessments, and other levies which by law would be superior, and (b) the lien or charge of any first Deed of Trust of record (meaning any recorded Deed of Trust with first priority over other Deed of Trusts) made in good faith and for value. Such lien, when delinquent, may be enforced by suit, judgment, and foreclosure in the same manner as mechanics’ and materialmen’s liens under North Carolina law. The sale or transfer of any Parcel will not affect the Assessment lien or relieve such Parcel from the lien for any Assessments thereafter becoming due. However, the sale or transfer of any Parcel pursuant to foreclosure of a first Deed of Trust will extinguish the lien (but not the underlying obligation) as to any installments of such Assessments which became due prior to such sale or transfer. Where the holder of a first Deed of Trust of record or other purchaser of a Parcel obtains title pursuant to foreclosure of the Deed of Trust, it will not be personally liable for the share of the Assessments levied by the Declarant against such Parcel which became due prior to such acquisition of title.
Lien for Assessments. The Association shall have a lien against each Lot to secure payment of delinquent assessments, as well as interest, late charges (subject to the limitations of South Carolina law), and costs of collection (including attorneys fees). Such lien shall be prior and superior to all other liens, except
Lien for Assessments. Any General Assessment, Special Assessment, Individual Assessment, or Fine Assessment, if not paid within thirty (30) days after the date such Assessment is due, together with interest at the maximum allowable rate pursuant to the [North Carolina Planned Community] Act and other applicable law, costs of collection, court costs, and reasonable attorneys’ fees shall constitute a lien against the Lot upon which such Assessment is levied. The Association may record notice of the same in the Office of the Clerk of Superior Court of Buncombe County, North Carolina, or file a suit to collect such delinquent Assessments and charges. The Association may file Notice of Lis Pendens, bring an action at law against the Owner personally obligated to the pay the same, and/or bring an action to foreclose the lien against the Lot. No Owner may wait or otherwise escape liability for the Assessments provided for herein. BMHOA Bylaws
Lien for Assessments. To secure the payment of any Assessment and/or fine imposed by the Association pursuant to Article X, Section 6 of this Declaration (each such fine, a “Fine”), a lien is expressly retained in favor of the Association on each and every Residential Unit in the Association. Such lien shall be prior and superior to all other liens, except all taxes, bonds, assessments, first mortgage liens, and other levies which by law would be superior thereto. For the purposes of rendering unnecessary court proceedings for the enforcement of said lien in the event of the nonpayment of Assessments and/or Fines, and for the consideration of one dollar paid in cash, receipt of which is acknowledged, the Owners, their heirs, successors, administrators, and assigns, hereinafter referred to as Trustors, hereby transfer and convey unto X. Xxxxx Xxxxxx, Xxxxxxx, his successors and assigns, their respective Residential Units with the appurtenances, estate, title and interest thereto belonging upon the use and trusts set forth in this paragraph. If each Trustor shall pay his Assessments and Fines when due, then this trust conveyance shall be of no further force or effect with respect to such Trustor’s Residential Unit. If the Assessments and Fines with respect to any Residential Unit are not paid promptly when due, this trust conveyance shall remain in full force and effect, and the said Trustee, or his successor in trust, is hereby authorized and empowered, upon giving twenty (20) days’ notice by three (3) publications in any newspaper, daily or weekly, published in Xxxxxxxxxx County, Tennessee to sell said Residential Unit at the front door of the Court house in said county to the highest bidder for cash, at public outcry, free from all statutory, equitable and other rights of redemption, homestead, dower and all exemptions of every kind, which are hereby expressly waived; and the said Trustee, or his successor in trust, is authorized and empowered to execute and deliver a deed to the purchaser. The Association may bid at any sale under this trust conveyance. The Association may, at any time after default in the payment of any Assessment or any installment payment thereof or any Fine, enter and take possession of said Residential Unit, and shall only account for the net rents actually received by it. It is further agreed that, in the event the Association fails, before instructing Trustee to sell said Residential Unit, as herein provided, to enter and take possession thereof, the p...
Lien for Assessments. Upon recording of a notice of lien, there shall exist a perfected lien for unpaid assessments on the respective Lot prior and superior to all other liens, except (a) all taxes, bonds, assessments and other levies which by law would be superior thereto, and (b) the lien or charge of any first Mortgage of record (meaning any recorded mortgage or deed of trust with first priority over other mortgages or deeds of trust) (a "First Mortgage") made in good faith and for value. Such lien, when delinquent, may be enforced by suit, judgment and foreclosure. The Association, acting on behalf of the Owners, shall have the power to bid for the Lot at foreclosure sale and to acquire and hold, lease, mortgage and convey the same. During the period in which a Lot is owned by the Association following foreclosure: (a) no right to vote shall be exercised on its behalf; (b) no assessments shall be assessed or levied on it; and (c) each other Lot shall be charged, in addition to its usual assessments, its equal pro rata share of the assessments that would have been charged such Lot had it not been acquired by the Association as a result of foreclosure. Suit to recover a money judgment for unpaid common expenses and attorneys' fees shall be maintainable without foreclosing or waiving the lien securing the same. After notice and hearing, the Board may temporarily suspend the vote of a Member who is in default and payment of any assessment.
Lien for Assessments
