04 - Staff Report - Conditional Use Permit Wilderness Resort Villas

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their liens shall be and remain inferior to future liens provided for herein whether or not such consent has been expressed in the instruments creating their liens. (c) To evidence a lien for sums assessed pursuant to this Article, the Association may prepare a written notice of lien setting forth the amount of the assessment, the date due, the amount remaining unpaid, the name of the Owner of the Lot and a description of the Lot and file or record the same, but such notice of lien shall not be filed or recorded until such assessment has been wholly or partially unpaid for at least thirty (30) days from the date due. Such lien may be enforced and foreclosed either by judicial foreclosure by the Association in the same manner in which mortgages on real property may be foreclosed in Minnesota or by foreclosing the lien in the manner prescribed by Minnesota Statutes for the foreclosure of a mechanic's lien. All persons or parties holding a record interest in the Lot shall be served with notice of the foreclosure. Each Owner, by acceptance of a deed for any Lot, does further hereby give full and complete power of sale to the Association and does consent to a foreclosure of the assessment lien by advedoement. In the event of any such foreclosure, and in the further event that the Association s *vail in any such foreclosure, the person personally obligated to pay the same shall be required to pay all,,costs of foreclosure, including but not limited to, reasonable attorneys' fees. All such coats and expend shall be further secured by the lien being foreclosed. The person personally ob ed to ,ay such li ,;shall also be required to pay the Association any assessments against the Adl become due during the period of foreclosure. The Association shall have the right and 1 to bid at the foreclosure sale or other legal sale and to acquire, hold, convey, leases pR� encumber,use and otherwise deal with the Lot as the Owner thereof. A release or satisfaction of the Mice of den shall be executed by an officer of the Association and recorded or filed upon paym " f a ' ms s6o4red by such lien. (d) Any encumbrances hol , ' pa any Lot may pay, but shall not be required to pay, any amounts secure the created authorized by this Section and, upon payment of such sums, such en ` +cam shay subrogated to all rights of the Association with respect to such lien, including bbt�not limit6"o,pity as to any other lien or interest in such Lot. (e) Any assement not.paid within thirty (30) days after the due date shall bear interest from the due date until p t °rate of eight percent (8 1/6) per annum. No Owner may waive or otherwise escape personal '" ity for the assessments provided for herein by non-use of the Common Area or by abandonment of his or her Lot. Suit to recover a money judgment for such assessments, with costs of collection, including reasonable attorneys' fees, and interest as provided for herein, shall be maintainable by the Association without foreclosing or waiving the lien securing the same. Section 9. Subordination of Lien to Mortgages. The lien of assessments provided for herein shall be subordinate to the lien of any first mortgage, and the sale or transfer of any Lot shall not affect the assessment lien. However, the sale or transfer of any Lot pursuant to the foreclosure of a first mortgage, or pursuant to any deed or proceeding in lieu of such foreclosure, shall extinguish the lien of such assessments as to installments which become due prior to the effective date of such sale, transfer or acquisition by the First Mortgagee to the end that no assessment liability shall accrue to an acquiring First Mortgagee except with respect to installments of assessments becoming due after possession has passed at the termination of any period of redemption or otherwise, and in the event of 11