MARVIN MANDEL, Governor                                2167

OF THE COUNCIL OF UNIT OWNERS AS SPECIFIED IN THE BY-LAWS
AND THEN MAY BE RECORDED, ON FULL PAYMENT OF THE
ASSESSMENT FOR WHICH THE LIEN IS CLAIMED THE UNIT OWNER
SHALL BE ENTITLED TO A RECORDABLE SATISFACTION OF THE
LIEN.

(E)    ANY ASSESSMENT, OR INSTALLMENT THEREOF, NOT
PAID WHEN DUE SHALL BEAR INTEREST, AT THE OPTION OF THE
COUNCIL OF UNIT OWNERS, FROM THE DATE WHEN DUE UNTIL PAID
AT THE RATE PROVIDED IN THE BY-LAWS, NOT EXCEEDING 8
PERCENT PER ANNUM, AND IF NO RATE IS PROVIDED, THEN AT 8
PERCENT PER ANNUM.

(F)    THE LIEN MAY BE ENFORCED AND FORECLOSED BY THE
COUNCIL OF UNIT OWNERS, OR ANY OTHER PERSON SPECIFIED IN
THE BY-LAWS, IN THE SAME MANNER, AND SUBJECT TO THE SAME
REQUIREMENTS, AS THE FORECLOSURE OF MORTGAGES OR DEEDS OF
TRUSTS ON REAL PROPERTY IN THE STATE CONTAINING A POWER
OF SALE, OR AN ASSENT TO A DECREE. SUIT FOR ANY
DEFICIENCY FOLLOWING FORECLOSURE MAY BE MAINTAINED IN THE
SAME PROCEEDING AND SUIT TO RECOVER A MONEY JUDGMENT FOR
UNPAID ASSESSMENTS MAY BE MAINTAINED WITHOUT WAIVING THE
LIEN SECURING THE SAME. NO ACTION MAY BE BROUGHT TO
FORECLOSE THE LIEN UNLESS BROUGHT WITHIN THREE YEARS
FOLLOWING THE RECORDATION OF THE STATEMENT OF CONDOMINIUM
LIEN. NO ACTION MAY BE BROUGHT TO FORECLOSE THE LIEN
EXCEPT AFTER TEN DAYS' WRITTEN NOTICE TO UNIT OWNER GIVEN
BY REGISTERED MAIL - RETURN RECEIPT REQUESTED, TO THE
ADDRESS OF THE UNIT OWNER SHOWN ON THE BOOKS OF THE
COUNCIL OF UNIT OWNERS.

(G) A STATEMENT OF CONDOMINIUM LIEN IS SUFFICIENT
FOR THE PURPOSES OF THIS TITLE IF IT CONTAINS THE
INFORMATION, AND IS SUBSTANTIALLY IN THE FORM, SET FORTH
BELOW:

STATEMENT OF CONDOMINIUM LIEN

THIS IS TO CERTIFY THAT_____________________________

OWNER(S) OF UNIT NO.__________IN_____________________________

CONDOMINIUM (IS) (ARE) INDEBTED TO THE COUNCIL OF UNIT

OWNERS IN THE AMOUNT OF $_______________AS OF

_________________, 19__ FOR (HIS) (THEIR) PROPORTIONATE

SHARE OF COMMON EXPENSES OF THE CONDOMINIUM FOR THE

PERIOD FROM (DATE)____TO (DATE) __, PLUS INTEREST

THEREON AT THE RATE OF_______% [[AND]] , COSTS OF

COLLECTION , AND REASONABLE ATTORNEY'S FEES.

COUNCIL OF UNIT OWNERS

BY:__________________________

OFFICER'S TITLE (OR AGENT)
ADDRESS