2976                                         LAWS OF MARYLAND                                    Ch. 579

OWNER'S FAILURE TO PAY AN INSTALLMENT, THAT PERSON WHO HAS A DUTY
TO MAKE ASSESSMENTS NOTIFIES THE OWNER THAT, IF THE OWNER FAILS
TO PAY ANY INSTALLATION WITHIN 15 DAYS OF THE NOTICE, FULL
PAYMENT OF THE REMAINING ANNUAL ASSESSMENT WILL THEN BE DUE AND
SHALL CONSTITUTE A LIEN ON THE UNIT AS PROVIDED IN THIS SECTION.

(2)  THE LIEN IS PERFECTED UPON RECORDATION OF A CLAIM
OF LIEN, WITH RESPECT TO THE TIME-SHARE ESTATE, AMONG THE LAND
RECORDS OF THE COUNTY IN WHICH THE TIME-SHARE UNIT IS SITUATE, OR
WITH RESPECT TO THE TIME-SHARE LICENSE, AMONG THE FINANCING
RECORDS IN THE COUNTY IN WHICH THE TIME-SHARE UNIT IS SITUATE
SITUATED. THE CLAIM OF LIEN SHALL STATE THE DESCRIPTION OF THE
TIME-SHARE UNIT, THE NAME OF THE RECORD OWNER, THE AMOUNT DUE,
AND THE PERIOD FOR WHICH THE ASSESSMENT WAS DUE. THE CLAIM OF
LIEN SHALL ALSO STATE THAT NOTICE OF INTENT TO PERFECT THE LIEN,
GIVING THE TIME-SHARE OWNER AN OPPORTUNITY TO DISPUTE THE AMOUNT
OF THE ASSESSMENT, WAS SENT TO THE LAST KNOWN ADDRESS OF THE
OWNER NOT LESS THAN 10 DAYS PRIOR TO RECORDATION. AS TO
TIME-SHARE ESTATE, THE CLERK SHALL INDEX THE STATEMENT OF CLAIM
OF LIEN UNDER THE NAME OF THE RECORD OWNER IN THE GRANTOR INDEX
AND IN THE BLOCK INDEX IF ONE IS MAINTAINED BY THE CLERK. THE
CLAIM OF LIEN SHALL BE SIGNED AND VERIFIED BY AN OFFICER OR AGENT
OF THE ASSOCIATION. ON FULL PAYMENT OF THE ASSESSMENT AND OTHER
PERMITTED AMOUNTS FOR WHICH THE LIEN IS 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 AND CHARGES IMPOSED UNDER THIS
SECTION ARE ENFORCEABLE AS ASSESSMENTS UNDER THIS SECTION.

(3)  A LIEN FOR UNPAID ASSESSMENTS IS EXTINGUISHED
UNLESS PROCEEDINGS TO ENFORCE THE LIEN ARE INSTITUTED WITHIN 3
YEARS AFTER THE ASSESSMENTS BECOME PAYABLE.

(4)  AN ACTION MAY NOT BE BROUGHT TO FORECLOSE A LIEN
EXCEPT AFTER 10-DAYS' WRITTEN NOTICE TO THE TIME-SHARE OWNER
GIVEN BY REGISTERED MAIL, RETURN RECEIPT REQUESTED, TO THE LAST
KNOWN ADDRESS OF THE OWNER. NOTICE SHALL BE DEEMED GIVEN EVEN IF
DELIVERY OF THE LETTER IS REFUSED BY THE ADDRESSEE OR ANY COOWNER
OF THE TIME-SHARE.

(5)  A JUDGMENT OR DECREE IN ANY ACTION BROUGHT UNDER
THIS SECTION MAY INCLUDE COSTS AND REASONABLE ATTORNEY'S FEES FOR
THE PREVAILING PARTY.

(6)  A PERSON WHO HAS A DUTY TO MAKE ASSESSMENTS FOR
TIME-SHARE EXPENSES SHALL FURNISH A TIME-SHARE OWNER UPON WRITTEN
REQUEST AS OFTEN AS QUARTER ANNUALLY A RECORDABLE STATEMENT
SETTING FORTH THE AMOUNT OF UNPAID ASSESSMENTS CURRENTLY LEVIED
AGAINST HIS TIME-SHARE. THE STATEMENT SHALL BE FURNISHED WITHIN
10 BUSINESS DAYS AFTER RECEIPT OF THE REQUEST AND IS BINDING IN
FAVOR OF PERSONS REASONABLY RELYING THEREON.

11A-111.