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December 16, 2014

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Seventh Amendment

About

The Seventh Amendmnet to the Master Deed establishes:

  • Adding a power of sale foreclosure option for the Association to enforce liens for delinquent maintenance fees and assessments, in compliance with Tennessee law.

  • Foreclosure fees, including legal and administrative expenses, are enforceable as liens against the unit, similar to delinquent assessments.

  • That the Lynton Square Condominium Association as trustee for enforcing liens, with the power to foreclose on delinquent accounts.

  • That the Board can authorize power of sale foreclosure through a majority vote at a meeting or via written/electronic consent under Tennessee law.

  • That the Property Manager must certify delinquencies exceeding six months of maintenance fees before the Board initiates foreclosure actions.

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