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DSCC-57520\2494968.2 16 September 17, 2021 manner. The Association may levy a special assessment against the Condominiums to collect the non- segregated tax amount. Any Owner who breaches the Owner’s duty to pay the Owner’s allocable share in a timely and proper manner shall be liable for any penalties, interests, fees or other such costs incurred as a result of the breach. 5.5 Utility Service to the Common Area. The Association shall acquire, provide and pay for water, sewer, refuse and trash collection, electrical, gas and other necessary utility services for the Common Area and any commonly metered utility service to the Units. 5.6 Reporting Requirements. The Association shall prepare and distribute such financial statements and reports as may be required by Applicable Laws. ARTICLE 6 Assessments 6.1 Obligations to Pay Assessments. The Owner of each Condominium is obligated to pay any assessments levied against that Owner’s Condominium on or before the due date of the assessment. If there is more than one Owner of the Condominium, the obligation is joint and several. Each Owner on acceptance of a deed to a Condominium automatically personally assumes the obligation to pay any assessments against the Owner’s Condominium (including, but not limited to, any portion of the annual regular assessment not yet due and payable) and agrees to allow the Association to enforce any assessment lien established hereunder by nonjudicial proceedings under the power of sale or by any other means authorized by Applicable Laws. The Owner shall be liable for the full assessment levied against that Owner’s Condominium regardless of the Owner’s possession or use of the Condominium, the Common Area, or any services rendered by the Association. The Owner has no right or power to commit or omit any act, such as waiving the right to use the Common Area, in an attempt to eliminate or reduce the assessments against that Owner’s Condominium. An assessment shall be both a personal obligation of the Owners of the Condominium against which the assessment is levied and, on the recordation of a notice of delinquent assessment, a lien against the Condominium. Any Owner who transfers a Condominium shall remain personally liable for any unpaid assessments that accrued on or before the date of the transfer. No Owner shall be liable for any defaults of the Owner’s predecessor in interest in the payment of any assessment that has accrued prior to the Owner taking title to the Condominium unless that Owner expressly assumes the obligation to cure the delinquent assessments. Notwithstanding the foregoing, any Owner who takes title to a Condominium on which a lien for a delinquent assessment has been established will take title subject to the lien and the Association’s enforcement remedies as a result thereof unless the Owner takes title under a foreclosure or trustee sale resulting from a foreclosure or exercise of a power of sale under a Mortgage, deed of trust, or other lien recorded before the recordation of the notice of delinquent assessment and except as provided in Section 9.3. 6.2 Annual Regular Assessment. Prior to the beginning of each fiscal year of the Association, the Association shall meet for the purpose of establishing the annual regular assessment for the forthcoming fiscal year. At such meeting, the Association shall review the preliminary pro forma operating budget prepared for the forthcoming fiscal year, any written comments received from Members’ Mortgagees, and such other related information that has been made available to the Association. After making any adjustments that the Association considers appropriate and subject to Approval by the Owners, the Association will establish an annual regular assessment for the forthcoming fiscal year. Each annual regular assessment may include a portion for reserves as described in Section 6.3. If the Association for any reason fails to take the appropriate steps to establish the annual regular assessment for the next fiscal year, the annual regular assessment for the preceding fiscal year shall continue in effect subject to the Association’s right at any time during the next fiscal year to adjust the assessment pursuant to the procedures described herein, including, without limitation, paying for the insurance coverage contemplated in Article 7.