632                                LAWS OF MARYLAND                        [CH. 387

the principal property, provided, that the individual units are unen-
cumbered, or if encumbered, that the creditors in whose behalf
encumbrances are recorded agree to accept as security undivided
portions of the property owned by the debtors, and execute or cause
to be executed the deed of termination or merger in such manner as
to show this consent and acceptance. Upon such termination and
waiver the provisions of Section 121 hereof restraining an action for
partition or division of the co-ownership shall no longer apply. In
the event of such partition suit the net proceeds shall be divided
among all of the unit owners, in proportion to their respective un-
divided ownership of the common elements, after first paying off, out
of the respective shares of the unit owners, all liens on the unit of
each unit owner.

129. MERGER NO BAR TO RECONSTRUCTION.

The merger provided for in Section 128 shall in no way bar the
subsequent constitution of the property into another horizontal
property regime.

ISO. BOOKS OF RECEIPTS AND EXPENDITURES; AVAIL-
ABILITY FOR EXAMINATION.

The manager or board of directors, or other form of administra-
tion provided in the by-laws, shall keep books with detailed ac-
counts in chronological order, of the receipts and of the expenditures
affecting the building and its administration and specifying the
maintenance and repair expenses of the common elements and any
other expenses incurred. The books and vouchers accrediting the
entries made thereupon shall be available for examination by the
co-owners, their duly authorized agents or attorneys, at normal
business hours. All books and records shall be kept in accordance
with good accounting practices and an outside audit be made at
least once a year.

131. COMMON PROFITS, CONTRIBUTIONS FOR PAYMENT OF
COMMON EXPENSES OF ADMINISTRATION AND MAIN-
TENANCE.

(a)  The common profits of the property shall be distributed among,
and the common expenses shall be charged to, the unit owners ac-
cording to the percentages established by Section 120 of this subtitle.

(b)  All co-owners shall contribute in accordance with the per-
centages toward the expenses of administration and of maintenance
and repairs of the general common elements, and, in proper cases,
of the limited common elements of the building and toward any
other expenses lawfully agreed upon by the council of co-owners.

(c)  No owner shall be exempt from contributing toward such
common expenses by waiver of the use or enjoyment of the common
elements, both general and limited, or by the abandonment of the
condominium unit belonging to him.

(d)  The contribution may be determined, levied and assessed as
a lien on the beginning of each calendar or fiscal year, and may
become and be due and payable in such instalments as the by-laws
may provide, and the by-laws may further provide that upon default