Laserfiche WebLink
deduction against the Association with respect to any Assessments, late charges, interest or costs <br />of collection, regardless of,any claims alleged against the Association or its officers or' directors. <br />Any rights or claims alleged by an Owner may be pursued only by separate action. <br />8.3 Default Yn Paym.ent of Assessments. If any Owner does not make 'payment on or <br />before the date when any Assessment or installment thereof is due, subject to such grace periods <br />as may be established, the Board may assess, and the Owner shall be obligated to pay, a late <br />charge as provided xn the Declaration for each such unpaid Assessment or installment thereof, <br />together with 'all expenses, including reasonable attorneys' fees and' other professional fees and <br />costs, incurred by the Board in collecting any such unpaid Assessment, <br />8.11 If there is a default of more than thirty days in payment of any <br />Assessment, the Board may accelerate any remaining installments of th'e Assessment <br />upon prior written notice thereof to the Owner, as provided in the Declaration, and the <br />entire unpaid balance of the Assessment and late charges shall become due and payable <br />upon the date stated in the notice unless all past due amounts, late charges, fines, <br />reasonably attorneys' fees and 'other professional fees and costs incurred by the Board, <br />are paid prior to said date. <br />8.3.2 The Board shall use commercially reasonable ' efforis to collect all <br />Assessments, together with any charges, attorneys' fees and other professional fees and <br />costs or expenses relating to the collection thereof. In addition., the Board shall use <br />commercially reasonable efforts- to recover any and all collection or contingency fees or <br />costs charged to ,the Association by a collection agency or other Person acting on behalf <br />of the Association in collecting any unpaid Assessments. <br />8.3.3 Notice of a default of more than sixty days in payment of any Assessment <br />or installment thereof or any other default in the performance of obligations by the Owner <br />shall be given in writing to the Mortgagee or Eligible Mortgagee of such Owner's Unit,, <br />8.3.4 The rights and remedies reforred to herein shall not limit the remedies <br />available to the Association under the Declaration or by laver. <br />8.4 Foreclosure.__of Liens for Unpaid ,Assessments. The Associatim has the right to <br />foreclose a lien against a Unit for .Assessments unposed by the Association, as more fully <br />g - <br />described in the Declaration and the Act. <br />8.5 Records, . The Board shall cause to be Dept at the registered office of the <br />Association, and at such other place as the Board may determine, records of the actions of the <br />Board., minutes of the meetm` gs of the Board, minutes of the meetings of the Owners, names of <br />the Owners and Eligible Moilgagees, and detailed and accurate records of the receipts and <br />expenditures of the Association. with the exception of records that may be privileged . <br />information, all Association records, including receipts and expenditures and any vouchers <br />authorizing payments, shall be. available -for examination by the Owners and the Eligible <br />Mortgagees upon reasonable notice and during normal business hours. Separate accounts shall <br />be maintained for each Unit setting forth the amount of the Assessments against the Unit, the <br />date ' wh en' due, the amount paid thereon and the balance rein airing unpaid. <br />MPLS -ward 2023 67.2 12 <br />