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lease, mortgage, and convey the Lot or Unit. If any assessment is payable in installments, the full amount <br />of the assessment shall be a hen from the date the first installment of the Assessment becomes due. The <br />Master Association may bring an action to recover a money judgment for unpaid assessments, fines, and <br />charges under this Master Declaration without foreclosing or waiving its lien. Recovery on any such action, <br />however, shall operate to satisfy the lien, or the portion thereof, for which recovery is made. The Master <br />Association shall also have any remedy available to it at law or in equity. <br />11.3. Subordination of Lien to Mortgages. The lien for assessments or charges provided for in <br />this Master Declaration shall be subordinate to the lien of any mortgage or deed of trust on such Lot or Unit <br />that was made in good faith and for value (any such mortgage or deed of trust, a "Mortgage') and which <br />was recorded prior to the recordation of the Master Association's notice of lien. Sale or transfer of any Lot <br />or Unit shall not affect the assessment lien; provided, however, that with respect to any lender who has <br />requested the same in wr*tmg from the Master Association, the Master Association shall agree that the sale <br />or transfer of any Lot or Unit subject to such lender's mortgage or deed of trust pursuant to a decree of <br />foreclosure thereunder or pursuant to a proceeding, deed, or assignment in lieu of foreclosure shall <br />extinguish the lien of an assessment, notice of which was recorded after the recording of the mortgage or <br />trust deed. Any such sale or transfer, however, shall not release the Lot or Unit from liability for any <br />assessments or charges thereafter becoming due or fromthe lien of such subsequent assessments or charges. <br />11.4. Interest, Expenses., and Attorneys' Fees. Subject to Section 11 2, any amount not paid to <br />the Master Association when due in accordance with this Master Declaration shall bear interest from the <br />date due until paid at a rate 8% per annumabove the "prime rate" or "reference rate" offered by Bank of <br />America or its successor as of the due date therefor, or at such other rate as may be established by the Board, <br />but not to exceed the lawful rate of interest under the laws of the state of Washington. A late charge may <br />be charged for each delinquent assessment in an amount established from time to time by resolution of the <br />Board In the event the Master Association files a notice of hen, the lien amount shall also include the <br />recording fees associated with .filing the notice, and a fee for preparing the notice of lien established from <br />time to time by resolution of the Board. In the event the Master Association brings any suit or action to <br />enforce this Master Declaration, the Bylaws or Rules and Regulations of the Master Association, or to <br />collect any money due hereunder or to foreclose a hen, the Member -defendant shall pay to the Master <br />Association all costs and expenses incurred by the Master Association in connection with the suit or action, <br />including a foreclosure title report, and the prevailing party in such suit or action shall recoN er such amount <br />as the court may determine to be reasonable as attorney fees at trial and upon any appeal or petition for <br />review thereof Except as permitted in the foregoing sentence or as otherwise required by law, no attorney <br />fees or costs shall be recoverable for actions to enforce this Master Declaration, the By laws, or Rules and <br />Regulations of the Master Association, whether arising in arbitration, mediation, judicial or administrative <br />proceedings. <br />11.5. Non -exclusiveness and Accumulation of Remedies. An election by the Master Association <br />to pursue any remedy provided for violation of this Master Declaration shall not prevent concurrent or <br />subsequent exercise of any other remedy permitted hereunder The remedies provided m this Master <br />Declaration are not exclusive, but shall be in addition to all other remedies, including actions for damages <br />and suits for injunctions and specific performance, available under applicable law to the Master <br />Association. In addition, any aggrieved Member may bring an action against another Member or the Master <br />Association to recover damages or to enjoin, abate, or remedy any violation of this Master Declaration by <br />appropriate legal proceedings. <br />24 <br />4864-8276-8240, v. 14 <br />