DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS
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ARTICLE V (cont.)
5.8. Creation and Release of Lien (cont.).
of Delinquent Assessment must be signed by an authorized Association officer or agent and must be mailed in the manner set forth in Section 2924b of the California Civil Code to the Owner of record of the Condominium no later than (10) calendar days after recordation. The lien relates only to the individual Condominium against which the assessment was levied and not to the Property as a whole. A monetary penalty imposed by the Association as a disciplinary measure for failure of an Owner to comply with the Restrictions may not become a lien enforceable by nonjudicial foreclosure against such Owner's Condominium; provided, however, that monetary penalties imposed for late payments and as a means of reimbursing the Association for costs incurred for the repair of damage to Common Property for which an Owner or an Owner's guests or tenants were responsible may become a lien against such Owner's Condominium enforceable by the sale of the Condominium in accordance with Section 5.9 ·Upon payment of the full amount claimed in the Notice of Delinquent Assessment, or other satisfaction thereof, the Board shall cause to be Recorded a Notice of Satisfaction and Release of Lien ("Notice of Release") stating the satisfaction and release of the amount claimed. The Board may require the applicable Owner to pay a reasonable charge, to be determined by the Board, for the preparation and Recordation of the Notice of Release before Recording it. Any purchaser or encumbrancer who has acted in good faith and extended-value may rely upon the Notice of Release as conclusive evidence of the full satisfaction of the sums stated in the Notice of Delinquent Assessment.
5.9. Enforcement of Liens.
The Board shall enforce the collection of amounts due under this Declaration by one (1) or more of the alternative means of relief afforded by this Declaration. The lien on a Condominium may be enforced by sale of the Condominium by the Association, the Association's attorneys, any title insurance company authorized to do business in California, or other persons authorized to conduct the sale as a trustee, after failure of the Owner to pay any Annual, Capital Improvement or Reconstruction Assessment, or installment thereof, as provided herein. The sale shall be conducted in accordance with the provisions of the California Civil Code applicable to the exercise .of powers of sale in Mortgages, or in any manner permitted by law. The Association (or any Owner if the Association refuses to act) may sue to foreclose the lien if (a) at least thirty (30) days have elapsed since the date on which the Notice of Delinquent Assessment was Recorded and (b) at least ten (10) days have elapsed since a copy of the Notice of Delinquent Assessment was mailed to the Owner affected thereby. The Association may bid on the Condominium at foreclosure sale, and acquire and hold, lease, mortgage and convey the same. Upon completion of the foreclosure sale, the Association or the purchaser at the sale may file suit to secure occupancy of the defaulting Owner's Unit, and the defaulting Owner shall be required to pay the · reasonable rental value for the Unit during any period of continued occupancy by the defaulting Owner or any persons claiming under the defaulting Owner. Suit to recover a money judgment · for unpaid assessments shall be maintainable without foreclosing. or waiving any lien securing the same, but this provision or any suit to recover a money judgment does·not affirm the adequacy of money damages. Any recovery resulting from a suit at law or in equity initiated · pursuant to this Section may include reasonable attorneys' fees as fixed by the court.