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Unpaid Assessments <br />Section 8.03. Any Mortgagee who obtains title to a Lot pursuant <br />to the remedies provided in the Mortgage or foreclosure of the <br />Mortgage shall not be liable for the Lot's unpaid assessments <br />that accrue prior to the acquisition of title to the Lot by the <br />Mortgagee. <br />Priority <br />Section 8.04. No provision of the Governing Instruments of the <br />Association gives any Owner, or any other party, priority over <br />any rights of the Mortgagee of the Lot pursuant to its Mortgage <br />in the case of a distribution to the Owner of insurance proceeds <br />or condemnation awards for losses to, or a taking of, all or a <br />portion of a Lot or Lots and/or the Project Easement Area. <br />Payments by Mortgagees <br />Section 8.05. Mortgagees may, jointly or severally, pay taxes or <br />other charges that are in default and that may or have become a <br />charge against the Project Easement Area, and may pay any <br />overdue premiums on hazard insurance polices, or secure new <br />hazard insurance coverage on the lapse of a policy, for the <br />Project Easement Area, and Mortgagees making these payments <br />shall be entitled to immediate reimbursement from the <br />Association or the defaulting owner, as the case may be. <br />Amendments to Conform with Mortgagee Requirements <br />Section 8.06. It is the intent of the Declarant that this <br />Declaration and the Articles and Bylaws of the Association, and <br />the Project in general, shall now and in the future meet all <br />requirements necessary to purchase, guarantee, insure, or <br />subsidize any Mortgage of a Lot in the Project by the Federal <br />Home Loan Mortgage Corporation, the Federal National Mortgage <br />Association, the Federal Housing Administration, and the <br />Department of Veterans Affairs. The Association and each Owner <br />shall take any action or shall adopt any resolutions required by <br />Declarant or any Mortgagee to conform this Declaration and the <br />Articles and Bylaws of the Association to the requirements of <br />any of these entities or agencies. <br />ARTICLE IX. AMENDMENTS <br />Amendment or Revocation Before Close of First Sale <br />Section 9.01. At any time before the close of the first sale of <br />a Lot to a purchaser other than Declarant, Declarant and any <br />Mortgagee of record may, by executing an appropriate instrument, <br />amend or revoke this Declaration. The executed instrument shall <br />be acknowledged and recorded in the Office of the Recorder of <br />16 <br />