5. HRSR 03-01-2010 - Laserfiche WebLink

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(2) by a co -Owner to any Person who was a co -Owner of the same Unit immediately prior to such transfer; (3) , by reason of the, death of an Owner to the Owner's estate, a tnist created by the Owner, a s- urviving spouse, or the Owner's heirs; (4) by an owner to an entity Wrholly ownod or controlled by the Owner, or to a revocable or family trast created by the Owner for the benefit of the Owner, his or her spouse, and/or heirs; (5) to a Mortgagee in connee'don with the foreclosure of a Mortgage or a deed in lieu of foreclosure; or (6) under othdr circumstances that the Board unanimously designates, in wri f ng, as an exempt transfer. 6.6, Liabilityof 0 ners for Assessments. If an Assessment has been levied, the obligation of an Qwner to pdy Assessments shad commence at the time at which the Owner acquires title to the Owner's Unit. The Ovrner at the time an Assessment is payable with respect to the Unit shall be personally liable for the share, of the Common Expenses assessed against such Unit. Such liability shall be joint and several where there are mg1tiple Owners of the Unit, Subject to Section 6.7, the liability is absolute and unconditional and no Owner is exempt from liability for payment of Assessments by right of set-off, by waiver of use or 'enjoyment of any part of tho Property, by absence from or abandonment of the Unit, by the waiver of any other rights, or by reason of any claim against the Association or its officers, di-rectors or agents, or far their failure to fulfill any duties under the Goveming Documents or MCIOA. 6.7: A.ssmment_ en. The Association has a lien on a Unit for any Assessment levied : against that Unit from the time the Assessment becomes due. If an Assessment is payable. in g . installxrlents, the full amount of the Assessment is a lien from the time the first installment thereof becornes due. Pees, charges, late charges, fines and interest charges imposed by the Association pursuant to Section 515B.3-- 102(a)(10), (11) and (l2) of.MClOA are liens, and are enforceable as Assessments, under this Section 6. Recording of this Declaration constitutes record notice and p erfection of any lien under this Section 6, and no further recording of any notice of or claim for the lien is 'required. The release of the lien shall not release the Owner from personal liability unless agreed to in writing by the Association. 6,9. Foreclosure of Lien= Remedies. A. lien for Assessments may be foreclosed against a Unit under the lags of the state ofIlinnesota fix} by action, or viii by advertisement in a like manner as .a mortgage containing a power of sale. The Association, or its authorized representative, shall hav6 the power to bid in at the foreclosure sale and to' acquire, hold, lease, mortgage and oonvey any Unit so acquired. The Owner and any other Person claiming an interest in the Unit, by the acceptance or assertion of any interest in the Unit, grans to the Association a power of sale and fixll authority to accomplish the foreclosure. The Association shall , in addition to its other remedies, have the right to pursue any other remedy at law or in equity against the Owner -who fails to pay any Assessment or charge against the Unit. MPLS �W ord 202180,3 15