PROJ00018

• Contract/PO #: C150010
• Contractor Name: Columbine Ranches POA
• Contract Type: Loan
• County: Adams
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Feasibility Study

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....~~.n ~G -,'J'J
BOOK cJvU.J, ,..-

subject to the obligations am dUly enacte:i By-laws arxi roles of the
Columbine Ranches Property OWner's As'?QCiation, a ncn-profit ......,,~"'tion
in=r'porated uOOer the laws of the state of Colaraclo.

B. Assessments/Scecial AsE~Sll'ellts

Paynent of dues, ",<"~~",,",,..,ts, am special assessments to the Ass=iation
shall be in such am::lUI1ts am at such tilDes as may be deteDnined by the
Ass=iation Board of Directors.

c. Lien for ~

If any lot cvmer shall fail ar retuse to make any such paynent of dues
arxi assessrrent when due, the am::xmt thereof shall constitute a lien on
the lot as set forth in the deed of c:onveyance to the CMIleI', arxi upon
the recording of notice thereof by the Association in the office of the
Recorder of I".<:>orl", of the County, such lien shall be consti.tute::l upon
such owner's interest priar to all other liens arxi encumb!:ances,
recorded or unrecorded, except only (a), taxes, special assessments arxi
special taxes theretofare am t:l1ereafter levied by arrj political
sul:division ar ImlIlicipal eu..~",tion of this state arxi otber state ar
federal taxes which by law are a lien on the interest of such lot owner
prior to pre-existin;r r=....u.ded encumbrances thereon, arxi (b) all sums
1lI'lpaid on a first IlCt'tgage ar first deed of trust or rb.=d, includinq
all unpaid obligatory sums as may be provided by such encumI:lrance.

'!he Asscx::iation shall serxl. a notice, postage prepaid, to any such
enamibrancer whose encumbrance was I'eC01.ded prior to the time of
recorciin3' the notice of lien pro'Iided far in this section, at the
address shClNn in the re.....u.ded encumbrance; provided that if such
enamibrancer has furnished the AssociatiOn with another address, then
such other address shall be used, arxi said Association shall not
foreclose its said lien until at least thirty (30) days after the date
of depositing such notice in the United states mail, postage prepaid, to
the address of such encumbrancer.

Arrf E!I1CllIl1branc holdin:J a lien on a lot may pay any COIlIlIXln expenses
payable with respect to such lot, and, if so provided in an enamtbrance,
may add the aIlIOlmt of such payment to the unpaid balance secured by his
lien, arxi such added amunt shall have the same priority arxi line rights
as t.'le lmpaid balance to which added.

'!he lien provided far in this section shall be in favor of the
Association arxi shall be far the benefit of all other lot owners, arxi
may be foreclosed by an action brougl1t in the naIre of the Ass=iation in
a like manner as a mrtgage of real property. In any such fareclosure
the cvmer shall be . required to pay the costs arxi expenses of such
ph<'~ the costs arxi expenses far filinJ the notice ar claim of
lien, arxi all reasonable attorney fees. '!he owners shall also be
required to pay the Association all assessments for the lot durinJ the
pericxl of foreclosure, am the AsSOCiation shall be entitled to a
receiver to collect the same. '!he /ISSOciation acti.n; on behalf of the

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