APRIL 27, 1995 - Laserfiche WebLink

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I '- ~ " annual meeting, shall elect a Board of Directors. e. The Country View Estates Owners' Association, Incorporated shall have responsibility for the following items: (1) maintenance and repair of drainage swales, retention basins, and associated items; (2) maintenance of any common areas, including the common area of the retention basins; (3) contract with the public utility for the installation, maintenance, and payment of electric service for subdivision street lighting; (4) lability insurance in an amount sufficient to protect the corporation, its officers and directors; (5) payment of professional fees and any other monies resulting from activities of the corporation; (6) an annual audit of the financial records of the corporation by a certified public accountant and publication of the audit at the annual meeting; (7) any other responsibility that the membership accepts by majority vote at the annual meeting. f. The Board of Directors shall establish an annual lot assessment, to be paid by each lot owner on or before June 1 annually, in an amount sufficient to fund the responsibilities of the corporation for the next calendar year and maintain an operating surplus equal to 50 percent of the preceding calendar year expenses. If the assessment is not paid by a lot, there shall be a lien upon the real estate of the owners of said lot, which may be foreclosed in the name of the corporation by judicial proceeding as real estate mortgages are foreclosed, together with prejudgment interest, attorney fees, and costs of collection, without relief from valuation and appraisement laws. The directors shall cause a list of delinquencies to be prepared each year as of the annual meeting and record the same by last known names of owners of record as set forth in the Auditor's Office, said list to be filed in the Office of the Morgan County Recorder. The priority of any lien herein shall be second and junior to any purchase money mortgage applicable to any particular lot. Actions to enforce such lien may be by the Board of Directors or their designated officers, which shall consist of a President, and Secretary-Treasurer. 22. Enforcement. The right to enforce these covenants ~y injunction or to seek damages for violation or other remedy lS dedicated to the owners of the lots herein, the developer, the Country View Estates Owners' Association, Incorporated and the Town of Mooresville. The covenants and restrictions shall remain in full force and unchanged in perpetuity unless otherwise agreed by a two-thirds vote of lot owners, one vote for each lot owned, and with the approval of the Town of Mooresville. Invalidation of any covenant or restriction