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Royale Sands Beach Club Condominium Association is a proud member of the Community Associations Institute.

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DECLARATION

XIII. ASSESSMENTS:

The making and collection of assessments against the Unit Owners for common expenses shall be pursuant to the By-laws and subject to the following provisions:

1. Share of Common Expense: Each unit Owner shall be liable for a proportionate share of the common expenses and shall share in the common surplus, such shares being the same as the undivided share in the Common Area which is appurtenant to the Unit owned by him, asset forth in Article VI. Provided, however, that if a Unit is declared to be untenantable for a period exceeding sixty days, the common expense attributable to such Unit shall be abated by the Board of Directors. During such period of abatement the common expense attributable to such Unit shall be prorated and borne among the remaining tenantable Units in accordance with their proportionate share of the common expense.

2. Interest, Application of Payments: Assessments paid on or before ten (10) days after the date when due shall not bear interest, but all sums not paid on or before ten (10) days after the date when due, shall bear interest at the rate of eighteen percent (18%) per annum from the date when due until paid. All payments upon account shall be first applied to interest and then to assessment.

3. Lien for Assessment: The lien for unpaid assessments as provided in New Hampshire Revised Statutes Annotated Chapter 356-B:46 shall also secure reasonable attorney's fees incurred by the association incident to the collection of such assessment in the enforcement of such lien.

4. Rental Pending Foreclosure: In any foreclosure of a lien for assessment as provided by said New Hampshire Revised Statutes Annotated Chapter 356-B:46, the owner of the Unit subject to the lien shall be required to pay a reasonable rental for the Unit and the Association shall be entitled to the appointment of a receiver to collect the same.

5. Bank Foreclosure: Any mortgage bank which acquires its title as a result of foreclosure or conveyance in lieu of foreclosure on a Unit, shall not be liable for the payment of any assessment for which other owners are liable.

SECTION XIV
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