[R.O. 2009 §16.50.700]
The owner of each lot within the Sikeston Business, Education
and Technology Park, by acceptance of a deed therefor and whether
or not it is expressed in such deed, is deemed to covenant and agree
to pay all annual assessments, special assessments and charges within
thirty (30) days from date of receipt of a statement of assessment
or charge. The annual and special assessments and charges, together
with interest accruing on delinquent accounts, plus costs incurred
in collecting delinquent accounts including reasonable attorney fees,
shall be a charge on the lot and shall be a continuing lien upon the
lot or portions thereof, against which each assessment and charge
is made, and shall also be the personal obligation of the person who
was the owner of the lot on the effective date of the assessment or
charge. The personal obligation for delinquent assessments and charges
shall pass to successors in title and the lien shall continue to be
a charge upon the lot.
[R.O. 2009 §16.50.701]
A.
Following
generally accepted accounting principles, the Board of Trustees shall
establish its annual operating budget to run from January first (1st)
through December thirty-first (31st) of each year, which shall make
provision for all expenditures necessary for carrying out the duties
of the Board, including expenditures for maintenance, taxes and insurance
on the common area, public rights-of-way and such easements the Board
is obligated to maintain or improve and to cover the operating expenses
of the Board. Effective January first (1st) of each year, the Board
shall set an annual assessment upon each lot owned within the property,
such that the aggregate amount of the annual assessments will be sufficient
to provide funds for all projected expenditures during the budget
year. The amount of the annual assessment to be charged to an owner
shall be determined as follows:
1.
The
Board shall determine the total square footage of all lots owned within
the property effective January first (1st) of the budget year. The
total annual assessment to be made for the budget year shall then
be divided by the total square footage of all lots owned and the quotient
shall be the assessment to be charged for the year for each square
foot of lot owned ("square footage assessment").
2.
The
annual assessment for the owner of a lot on January first (1st) of
the budget year shall be an amount equal to the product of the square
footage assessment multiplied by the number of square feet owned by
the owner.
3.
An owner to whom a lot is conveyed after January first (1st) of the budget year shall be assessed as provided in Subsection (2) above, except that the assessment shall be prorated on the basis of 1/365th of the total amount of the assessment for each day remaining in the budget year after the date of conveyance.
4.
If the
aggregate annual assessment for any year is insufficient to meet obligations
and expenses for that year, the Board may impose a supplemental assessment
for that year to cover such expenses and so notify the owners. Unexpended
funds may be carried over from one budget year to the next and shall
be accounted for in setting the annual assessment for the year into
which unexpended funds are carried over.
[R.O. 2009 §16.50.702]
In addition to the annual assessment, the Board may levy a special assessment in any year for the purpose of making a capital improvement upon the common area or for the purpose of defraying, in whole or in part, the costs of any reconstructions, repair or replacement of a capital improvement upon the common area, including fixtures and personal property related thereto. Special assessments shall be charged in the same manner as annual assessments as described in Section 420.600 above.
[R.O. 2009 §16.50.703]
The obligation of an owner for payment of the annual assessment
shall commence to run as of the date of conveyance of a lot to the
owner; otherwise, the annual assessment for each lot provided for
herein shall commence on January first (1st) of each calendar year.
Written notice of the amount of the annual assessment shall be sent
to every owner. The Board shall, upon request and for a reasonable
charge, furnish a certificate setting forth whether the assessments
on a specified lot have been paid.
[R.O. 2009 §16.50.704]
Each owner shall be deemed to covenant and agree to pay to the
Board the assessments provided for herein and to consent to the enforcement
of the assessments in the manner herein specified. In the event the
Board employs an attorney for collection of any delinquent assessment,
whether by suit or otherwise or to enforce compliance with the terms
and conditions of this Declaration or for any other purpose in connection
with breach of this Declaration, the owner subject to such suit or
other action shall be obligated to pay reasonable attorney fees and
costs thereby incurred in addition to any other amounts due or any
other relief or remedy obtained against said owner. In the event of
a default in payment of any assessment when due, the assessment shall
be deemed delinquent and shall bear interest at the rate of eighteen
percent (18%) per anum commencing on the due date and in addition
to any other remedies herein or by law provided the Board may enforce
each such obligation in any manner provided by law or inequity.
[R.O. 2009 §16.50.705]
The Board may cause an action at law to be commenced and maintained
in the name of the Board against any owner to enforce any delinquent
assessment obligation. Any judgment rendered in any such action shall
include the amount of the delinquency, together with interest thereon
at the rate of eighteen percent (18%) per annum from the date of the
delinquency, court costs and reasonable attorneys' fees in such amount
as the court may adjust against the delinquent owner.
[R.O. 2009 §16.50.706]
A.
There
is hereby created a claim of lien with power of sale on each and every
lot within Sikeston Business, Education and Technology Park to secure
payment to the Board of any and all assessments levied against any
and all such lots under this Declaration, together with interest thereon
at the rate of eighteen percent (18%) per annum from the date of delinquency,
and all costs of collection which may be paid or incurred by the Board
in connection therewith, including reasonable attorneys' fees. At
any time within thirty (30) days after the occurrence of any default
in the payment of any such reassessment, the Board may serve written
demand for payment on the defaulting owner. The demand shall state
the date and the amount of the delinquency. Each default shall constitute
a separate basis for a demand or claim of lien or a lien, but any
number of defaults may be included within a single demand or claim
or lien. If such delinquency is not paid within ten (10) days after
delivery of such demand, the Board may elect to file claim of lien
against the lot of the defaulting owner. The claim of lien shall be
executed and acknowledged on behalf of the Board and shall contain
the following information:
1.
The
name of the delinquent owner;
2.
The
legal description or street address of the lot against which claim
of lien is made;
3.
The
total amount claimed to then be due and owing for the amount of the
delinquency, interest thereon and collection costs and attorneys'
fees previously incurred;
4.
The
claim of lien is made by the Board pursuant to the Sikeston Business,
Education and Technology Park Declaration; and
5.
A lien
is claimed against said lot in the amount stated.
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Upon recordation of a duly executed original or copy of such
a claim of lien and mailing a copy thereof to said owner, the lien
claimed thereon shall immediately attach and become effective in favor
of the Board as a lien upon the lot against which such assessment
was levied. Such a lien shall have priority over all liens or claims
created subsequent to the recordation of the claim of lien thereon,
excepting only tax liens for real property taxes on any lot and assessment
on any lot in favor of any municipal or other governmental assessing
unit. Any such lien may be foreclosed by appropriate action in court
or in the manner provided by law for the foreclosure of a trust deed,
with a power of sale, as set forth by the laws of the State of Missouri,
as the same may be changed or amended. The lien provided for herein
shall be in favor of the Board of Trustees and shall be for the benefit
of the Board.
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[R.O. 2009 §16.50.707]
The lien of the assessment provided for herein shall be subordinate
to the lien of any previously recorded mortgage or deed of trust.
Sale or transfer of any lot shall not affect the assessment lien.
