ARTICLE X

Assessments

          Section 1.  Assessment Obligations. Each Member of the Association, in accordance with Article V, Section 1(b), (d) and (g) thereof, shall pay dues and assessments as promulgated by the Association against the properties and Owners thereof.   These dues and assessments shall be levied by the Association for collection against each property and the Owner thereof to pay the cost of administration and maintenance, replacement and repair of the Common Areas and Community Recreational Facilities, and to pay the expenses of administering and maintaining the Association and all of its real and personal property, and other costs and expenses incurred by the Association in achieving and furthering its purpose.

          Section 2.  Payment of Assessments.  Payment by the Members of the assessments levied by the Association shall be made on or before the date fixed by resolution of the Board.  Written notice of the assessment and the date of payment shall be sent to the Owner of each property at the address last given by such Owner to the Association.  Members may  not exempt themselves from their share of such expenses by waiver of the use or enjoyment of the Common Areas and/or the Community Recreational Facilities of the Association or by abandonment of the property owned by them.

          Section 3.  Annual Dues and Assessments.  Annual dues and assessments may be adjusted or increased by the Board of Directors to meet increased operating or maintenance costs, in accordance with Article V, Section 1, paragraph (d) thereof, upon approval by a majority of the valid votes cast by the Voting Members present at any annual or special meeting of the Members.

          Section 4.  Special Assessments.  Special assessments may be levied and collected by the Board of Directors for capital improvements or other non-recurring expenditures, in accordance with Article V, Section 1, paragraph (d) thereof, upon approval by a majority of the valid votes cast by the Voting Members present at any annual or special meeting of the Members.

          Section 5.  Other Assessments.  Other assessments against a property or Owner thereof will include only those ordinary and necessary to the services applied to a property or Owner thereof.

          Section 6.  Unpaid Assessments.  All assessments charged to a property or Owner thereof shall constitute a lien against the said property and a personal obligation of the Owner thereof in favor of and running to Emerald Lakes Association, Inc. which lien shall have that priority fixed by the laws of the Commonwealth of Pennsylvania.  Such lien shall be effective from and after the time of recording in the public records of Monroe County of a claim of lien stating the description of the lot, the name of the record Owner, the amount due, and the date when due.  Such claim of lien shall include only sums which are due and payable when the claim of lien is recorded and shall be signed and verified by an Officer or agent of the Association.  Upon fully payment of all sums secured by the lien and a preparation fee, the party making payments shall be entitled to a recordable satisfaction of lien to be recorded at his sole expense.

                    The title acquired by any purchaser shall be subject to all of the provisions of this instrument, the By-Laws and rules and regulations of the Association, and by so acquiring title to the property, said purchaser covenants and agrees to abide and be bound thereby.

          Section 7.  Voluntary Conveyance.  Upon any voluntary conveyance of a property, the Grantor and Grantee of such property  shall be jointly and severally liable for all unpaid assessments pertaining to such property made by the Association or accrued up to date of such conveyance, without prejudice to the right of the Grantee to recover  from the Grantor any amounts paid by the Grantee, but the Grantee shall be exclusively liable for those accruing while Grantee is the property Owner.  Any property Owner or any purchaser of a property prior to completion of a voluntary sale, may require from the Association a certificate, showing the amount of unpaid assessments pertaining to such certificate within ten (10) days after request therefor.   The holder of a mortgage or other lien on any property may request a similar certificate with respect to such property.  Any person other than the Property Owner at the time of issuance of any such certificate who relies upon such certificate, shall be entitled to rely thereon and such person’s liability shall be limited to the amounts set forth in such certificate.