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<br />8.
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<br />COVENANT FOR MAINTENANCE ASSESSMENTS
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<br />A. Creation of the Lien and Personal Obligation of Assessment. The Developer for each
<br />Tract owned within the Subject Property, hereby covenants, and each Owner of any Tract by acceptance
<br />of a deed therefor, whether or not it shall be expressed in any such deed or other conveyance, is
<br />conclusively deemed to covenant and agree as a covenant running with the land to pay to the
<br />Association assessments or charges imposed from time to time by the Board for the purposes set forth in
<br />Section 8.B. below (hereinafter referred to as "Assessments"). The Board shall have the right to adopt
<br />and from time to time revise and amend procedures for the purpose of establishing the Assessments, due
<br />dates, billing and collection of the Assessments, provided that such procedures are not inconsistent with
<br />the provisions hereto. The assessments established by the Board shall commence against the subject
<br />Property on August 1, 2006. The Assessments shall be uniform as to each Tract on a per square foot
<br />basis according to the land area comprising such Tract. If the Assessments have commenced to accrue
<br />against the Owners, then, at the time an Owner takes title to a Tract, the installment for that month shall
<br />be prorated as of the day the Owner takes title. Any Assessments not paid and received within ten (10)
<br />days from the due date shall be deemed delinquent and, without notice, shall bear interest until paid at
<br />fifteen percent (15%) per annum, not to exceed the maximum non-usurious rate allowed by applicable
<br />law. The Board, at its option, may impose and collect late charges on delinquent payments, in addition to
<br />interest, in an amount to compensate the Association for the administrative burden of dealing with the
<br />delinquency.
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<br />To secure the payment of the Assessments levied hereunder and any other sums due hereunder
<br />(including, without limitation, reasonable attorney's fees and costs of collection, interest or late charges), a
<br />vendor's lien and superior title shall be and is hereby reserved, and a contractual lien is hereby created, in
<br />favor of the Association, in and to each Tract and assigned to the Association, which liens shall be
<br />enforceable as hereinafter set forth by the Board or its appointed agent ("Agent") on behalf of the
<br />Association.
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<br />Notice of the unpaid amounts, at any time, secured by the liens referred to, reserved by and
<br />created in this Article 8 may, but shall not be required to be given by the recordation in the Real Property
<br />Records of Harris County, Texas of a "Notice of Non-Payment," duly-executed and acknowledged by an
<br />Agent of the Association, setting forth the amount owed, the name of the reputed Owner or Owners of the
<br />affected Tract according to the books and records of the Association, and the legal description of such
<br />Tract. The cost of preparing and filing the Notice of Non-Payment and its release shall be secured by the
<br />lien therefor.
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<br />Each Owner, by acceptance of a deed to such Owner's Tract, hereby expressly recognizes the
<br />existence of such liens as being prior to such Owner's ownership of such Tract and hereby vests in the
<br />Board or its Agent the right and power to bring all actions against such Owner or Owners personally for
<br />the collection of such Assessments and other sums due hereunder as a debt, and to enforce the
<br />aforesaid lien by all methods available for the enforcement of such liens, including by judicial and/or
<br />non-judicial foreclosure. Additionally, by acceptance of the deed to such Owner's Tract, each Owner
<br />expressly grants a power of sale such Owner's Tract and all Improvements thereon, and all rights
<br />appurtenant thereto for the purpose of securing the aforesaid Assessments and other sums due
<br />hereunder remaining unpaid by such Owner from time to time. The Agent may be changed at any time by
<br />the Board. In the event of the election by the Board to foreclose the liens herein provided for nonpayment
<br />of sums secured to be paid by such liens, then it shall be the duty of the Agent, as hereinabove provided,
<br />at the request of the Board (which request shall be presumed) to enforce this trust and to sell such Tract
<br />and all Improvements thereon, and all rights appurtenant thereto, at the door of the County Courthouse of
<br />Harris County, Texas (in the area designated by the Commissioner's Court of Harris County, Texas, for
<br />such purpose), on the first Tuesday in any month between the hours of 10:00 a.m. and 4:00 p.m. to the
<br />highest bidder for cash after the Agent shall have given notices of the proposed sale in the manner
<br />hereinafter set forth, or as provided by statute, whichever is less burdensome. Following sale, the Agent
<br />shall make due conveyance of the Tract and all Improvements thereon to the purchaser or purchasers,
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<br />H-Final Version of Declaration of Protective Covenants and Easements(620880_ 4).DOC 11
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