1460

LAWS OF MARYLAND

Ch. 246

claimed the unit owner shall be entitled to a recordable
satisfaction of the lien in any form used for the release of
mortgages in the county in which the condominium is located.
FEES, CHARGES, LATE CHARGES, FINES, AND INTEREST ESTABLISHED
PURSUANT TO §§ 11-110(F) AND 11-112 ARE ENFORCEABLE AS
ASSESSMENTS UNDER THIS SECTION.

(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 bylaws, not exceeding [eight] 18
percent per annum, and if no rate is provided, then at
[eight] 18 percent per annum. The bylaws also may provide
for a late charge of [two dollars] $15 or one [twentieth]
TENTH of the total amount of any delinquent assessment or
installment, whichever is greater, provided the charge may
not be imposed more than once for the same delinquent
payment and may only be imposed if the delinquency has
continued for at least 15 calendar days.

(f)   The lien may be enforced and foreclosed by the
council of unit owners, or any other person specified in the
bylaws, 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] AN action may NOT be brought to
foreclose the lien unless brought within [three] 3 years
following the recordation of the statement of condominium
lien. [No] AN action may NOT be brought to foreclose the
lien except after [ten] 10 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 OR ASSESSMENTS of the condominium for the
period from (date) to (date), plus interest thereon at the

rate of ....%, a late charge of $......, costs of

collection, and reasonable attorney's fees.

Council of unit owners

By:......................

Officer's title (or agent)

Address