6.1 No Partition. Except as is permitted in this Declaration, or any Supplemental Declaration, there shall be no physical partition of the Common Area or any part thereof, nor shall any person acquiring any interest in the Development or any part thereof seek any such judicial partition unless the applicable portions of the Development have removed from the provisions of this Declaration. This Article shall not be construed to prohibit the Board of Directors from acquiring and disposing of tangible personal property nor from acquiring title to real property which may or may not be subject to this Declaration.
ANNEXATION OF ADDITIONAL PROPERTY
7.3 Amendment. This Article shall not be amended without the written consent of the Declarant, so long as the Declarant owns any property described in Exhibit A attached hereto or as added by this Article.
RIGHTS AND OBLIGATIONS OF THE ASSOCIATION
8.3 Personal Property and Real Property for Common Use. The Association, through action of its Board of Directors, may acquire, hold and dispose of tangible and intangible personal property and real property. The Board, acting on behalf of the Association, shall accept any real or personal property, leasehold, or other property interests located within the properties described in Exhibit A attached hereto or hereafter annexed into the Development and conveyed to it by the Declarant.
9.6 Effect of Nonpayment of Assessments: Remedies of the Association. Any assessments which are not paid when due shall be delinquent. Any assessment delinquent for a period of more than ten (10) days shall incur a late charge in an amount as the Board may from time to time determine. The Association shall cause a notice of delinquency to be given to any member who has not paid within ten (10) days following the due date. If the assessment is not paid within thirty (30) days from the due date, a lien, as herein provided, shall attach and, in addition, the lien shall include the late charge, interest, not exceed the maximum legal rate, on the principal amount due, and all late charges from the date first due and payable, all costs of collection, reasonable attorney’s fee actually incurred, and any other amounts provided or permitted by law. In the event that the assessment remains unpaid after sixty (60) days from the due date, the Association may, as the Board shall determine, institute suit to collect such amounts and to foreclose its lien. Each Owner, by acceptance of a deed or as a party to any other type of a conveyance, vests in the Association or its agents the right and power to bring all actions against him or her, personally, or all persons or parties in title, jointly and severally, for the collection of such charges as a debt or to foreclose the aforesaid lien in the same manner as other liens for the improvement of real property (i.e.: mechanics and material men’s liens). The lien provided for in this Article shall be in favor of the Association and shall be for the benefit of all other Owners. The Association, acting on behalf of the Owners, shall have the power to bid on the Lot at any foreclosure sale or to acquire and to hold, lease, mortgage, or convey the Lot. No Owner may waive, purge himself, or otherwise except liability for the assessments provided for herein, including, by way of illustration, but not limitation, abandonment of the Lot.
9.7 Capital Budget and Contribution. The Board of Directors shall annually prepare a capital budget which shall take into account the number and nature of replacement costs for the Common Area. The Board shall set the required capital contribution, if any, in an amount sufficient to permit meeting the projected capital needs of the Association as shown on the capital budget, with respect to both amount and timing of need for funds by annual assessments over the period of the budget. The capital contribution required shall be fixed by the Board and be included within the budget assessment for Common Expenses as provided in 9.3. A copy of the capital budget shall be distributed to each member in the same manner as the operating budget.
9.8 Subordination of the Lien to First Deeds of Trust and First Mortgage. The lien of the assessments, including interest, late charges, cost (including attorney’s fees) provided for herein, shall be subordinate to the lien of any first Mortgage upon any Lot. The sale or transfer of any lot shall not affect the assessment lien.
9.9 Date of Commencement of Annual Assessments. The annual assessments provided for herein shall commence as to all Lots subject under this Declaration on the first day of the month following the conveyance of the first Lot by the Declarant to an Owner and shall be due and payable in a manner and on a schedule as the Board of Directors may provide. The first annual assessment shall be adjusted according to the number of months then remaining in the fiscal year. The date any Lot becomes subject to assessment hereunder shall be the date on which such Lot is transferred to an Owner.
9.10 Assessments by Declarant. After the commencement of assessments on any Lot, Declarant covenants and shall be liable for and agrees to pay the full amount of the annual assessment for each Lot is owns.
10.1 Duration. The provisions of this Declaration shall run with and bind the land and shall be and in effect perpetually to the extent permitted by law.
10.2 Amendment. This Declaration may be amended unilaterally at any time and from time to time by Declarant (i) if such amendment is necessary to bring any provision hereof into compliance with any applicable governmental statute, rule, or regulation or judicial determination which shall be in conflict therewith; (ii) at Declarant’s option, if such amendment is reasonably necessary to enable any reputable title insurance company to issue title insurance coverage with respect to the Lots subject to this declaration; (iii) at Declarant’s option, if such amendment is required by an institutional or governmental lender or purchaser of mortgage loans, including, for example Federal Housing Administration, the Federal National Mortgage Association or Federal Loan Mortgage Corporation, to enable such lender or purchaser to make or purchase mortgage loans on the Lots subject to Declaration; or (iv) at Decarant’s option, if such amendment is necessary to enable any governmental agency or reputable private insurance company to insure mortgage on the loans on the Lots subject to this Declaration; provided, however, any such amendment shall not adversely affect the title to any Owner’s Lot unless any such Lot Owner shall consent thereto in writing.
Further, so long Declarant owns any property in the Development or any property capable of being annexed thereto, Declarant may unilaterally amend this Declaration for any purpose; provided, however, any such amendment shall not adversely affect in a material magnitude, the substantive rights of any then present Lot Owner hereunder, nor shall it substantially affect marketability of title to any Lot without the consent of the Lot Owner. In addition to the above, this Declaration may be amended upon the affirmative vote or written consent, or any combination thereof, of at lease two-thirds (2/3) a majority of the Owners and the consent of the Declarant, so long as Declarant has an unexpired option to subject property to this Declaration, as set forth in Article VII. Amendments to this Declaration shall become effective upon recordation in the Porter County, Indiana records, unless a later date is specified therein.
10.3 Construction and Sale. Notwithstanding any provisions contained in the Declaration to the contrary, so long as construction and initial sale of Lots shall continue, it shall be expressly permissible for Declarant to maintain and carry on upon portions of the Common Area such facilities and activities as, in the sole opinion of Declarant, may be reasonably required, convenient, or incidental to the construction or sale of such residences, including, but not limited to, business offices, signs, model units, and sales offices, and the Declarant shall have an easement for access to such facilities. The right to maintain and carry on such facilities and activities shall include specifically the right to use residences owned by the Declarant the Common Area facilities, if any, which may be owned by the association, as models and sales offices. This, 10.3 may not be amended without the express written consent of the Declarant;provided, however, the rights contained in this paragraph shall terminate upon the earlier of (a) twenty-five (25) years from the date of this Declaration is recorded or (b) upon the Declarant’s recording a written statement that all sales activity has ceased.
10.4 Severability. Whenever possible, each provision of this Declaration shall be interpreted in such manner as to be effective and valid, but if the application of any provision of the declaration to any person or to any property shall be prohibited or held invalid, such prohibition or invalidity shall not affect any other provision or the application of any provision which can be given effect without the invalid provision or application, and, to this end, the provisions of this Declaration are declared to be severable.
LIMITATION ON DEVELOPERS LIABILITY
10.5 Limitation on Developer’s Liability. Notwithstanding anything to the contrary herein, it is expressly agreed, and each Owner, by accepting title to a Lot or Residential unit and becoming an owner acknowledges and agrees, that neither Developer (including without limitation any assignee of the interest of Developer hereunder) nor any director, officer or shareholder of Developer (or any partner, officer, director or shareholder in any such assignee) shall have any personal liability to the Association, or any Owner, Member or other person, arising under, in connection with, or resulting from (including without limitation resulting from action or failure to act with respect to) this Declaration or the Association except, in the case of Developer (or its assignee), to the extent of its interest in the Property; and, in the event of a judgment no execution or other action shall be sought or brought thereon against any other assets, nor be a lien upon such other assets of the judgment debtor.