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02/14/12
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02/14/12
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7/18/2025 11:11:37 AM
Creation date
2/10/2012 9:59:06 AM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority
Document Date
02/14/2012
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of MCIOA. The Master Association shall have a power of sale to foreclose the <br />lien in a like manner as a mortgage containing a power of sale. The Master Association, or its <br />authorized representative, shall have the power to bid in at the foreclosure sale and to acquire, <br />' <br />hold,lease, mortgage and convey any Parcel so acquired. An Owner or any other person <br />claiming an <br />interest in a Fared., by the acceptance or assertion of any interest in a Parcel, <br />grants to the Master Association a power of sale and full authority to accomplish the <br />foreclosure by advertisement. <br />6.10 1en "rior t �vreclo ur . lien under this Section is prior to all other liens <br />and encumbrances on a Parcel except liens and encumbrances recorded before this Master <br />Declaration, (ii) and <br />first Mortgage on the Parcel to the extent permitted by MCIOA, and (Hi) <br />liens <br />for real estate taxes and other governmental assessments or charges against the Parcel. <br />6 untar Coe antes; Statement of Assessments. In a voluntary conveyance <br />Parcelof a the buyer shall not be personally liable for any unpaid assessments and other <br />� the <br />r es made bythe Master Association against the seller or the sellers Parcel prior to <br />charges the lien of <br />ve ance to the buyer, unless expressly assumed by the buyer. However, <br />time of conveyance <br />assessments shall remain against the Parcel until satisfied or released. Any seller or buyer <br />such i settingforth <br />shall be entitled to a statement, in recordable form, from the Master Association <br />, against the Parcel includingall assessments payable in <br />the amount ofthe � Assessments <br />the Master Association's current fiscal year, which statement shall be binding on the Master <br />Association, seller and buyer. <br />6.12 Exemption of Master Declarant from Liabilit for Assessments,. The Master <br />Declarant shall <br />be exempt from all liabilityfor assessments for common expenses as provided <br />in this Section 6 as to any Unit owned by it until substantial completion of the Unit as <br />evidenced by a certificate of occupancy, for so long as it maintains control of the Master <br />Association ciatlon as provided in this Master Declaration. The owner of any unit, or parcel of real <br />estate shall also be exempt from the lien for such assessments until a building constituting or <br />located <br />within the unit or other parcelSubstantial of real estate is substantially completed. <br />completion shall be evidenced by a Certificate of Occupancy. <br />SECTION 7 <br />MAINTENANCE <br />• 7.1 Mjntnance b Master Association. The Master Association shall provide for <br />and be responsible for: (i) the maintenance, repair and replacement of certain signs and project <br />monuments benefiting the Property as a whole as described in Section 3.1, including the <br />Master Common Elements (ii) any other areas it is responsible for under this Master <br />Declaration. Notwithstanding foregoing; the fore oin ` the expense of any maintenance, repair or <br />reconstruction of the Development Area necessitated by the acts or omission of any Owner or <br />Occupant shall be borne solely by the Owner, • <br />16 <br />1 1 i 10757A 8 071 /1 /05 <br />
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