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27. MANAGEMENT AND ASSESSMENTS.
<br />(a) Subject to Section 27(c) of the Covenants, Developer (or its assignee) shall be responsible for
<br />maintaining and supporting financially all park areas, all landscaped entrance ways, and all street lighting, and
<br />the provision of such security services as may be deemed advisable and practical in the sole discretion of the
<br />Developer. The Developer shall impose, and the lot owners agree to pay, monthly assessments (the
<br />"Assessments") for the installation and operation of street lighting, and maintenance and improvement of park
<br />areas or other common areas of the Subdivision, and the provision of the aforesaid security services in the
<br />amount of not less than Two Hundred Twenty Five ($225.00) per lot per month but not more than Two
<br />Hundred -Fifty Dollars ($250.00) per lot per month. The Assessments shall be levied equally on each lot of the
<br />Subdivision and failure to pay said Assessments shall be a violation of these Covenants. The Assessments shall
<br />be billed by the Developer to the owner of each lot monthly. All lots in this Subdivision shall, from and after the
<br />recording of these Covenants, be subject to said Assessments. The Assessments, including interest, costs of
<br />collection and attorneys' fees, if any, as hereinafter provided, shall be a lien in favor of the Developer upon the
<br />lot against which such Assessments are charged until discharged by payment or released by the Developer,
<br />which lien may, but need not, be enforced in the same manner as is provided in the mechanic's lien statutes of
<br />the State of Indiana. Notwithstanding anything to the contrary herein, the Developer need not file or record or
<br />send any notice with respect to any lien or liens or bring suit thereon within any time specified in the mechanic's
<br />lien statues of the State of Indiana to enforce the same. The Developer may, but need not, publicly record such
<br />notices of undischarged liens arising hereunder as it deems appropriate and may, but need not, bring a separate
<br />independent action in any court to enforce payment of, or to foreclose, the lien created hereunder. Provided
<br />further, that any person purchasing or dealing with said lot may rely upon a certificate signed by an authorized
<br />representative of the Developer showing the amount of such certificate, and the Developer shall not be entitled
<br />to enforce any lien for such charge accruing prior to the date of any such certificate unless the amount thereof is
<br />shown in the said certificate. The within above -described lien is subordinate to any first mortgage lien on the lot.
<br />The Developer may also enforce the restrictions concerning accumulations of rubbish, weeds, or trash, and may
<br />own any land for use by an or less than all of the lot owners as a "common area". Any past -due Assessments or
<br />other charges assessable hereunder shall bear interest at the rate of eight percent (8%) per annum commencing
<br />thirty (30) days after same become due and with attorneys fees, and shall be due and payable without relief from
<br />valuation and appraisement laws.
<br />(b) The Developer agrees to create a separate escrow account (the "Deferred Maintenance Account")
<br />and to deposit into the Deferred Maintenance Account, on a monthly basis, twenty-five dollars ($25) of each
<br />Assessment received, per lot. Funds in the Deferred Maintenance Account shall be used exclusively for the
<br />maintenance and repair of sewer, basins, private roads, sidewalks, and other privately owned infrastructure in
<br />the Subdivision (collectively the "Subdivision Infrastructure"). The Developer and the lot owners shall be solely
<br />responsible for owning, repairing, and maintaining the Subdivision Infrastructure.
<br />(c) Developer's rights and obligations under this Section 27 shall terminate upon occurrence of any
<br />of the following (each a "Termination Event"): (1) the real estate adjacent to the Subdivision, commonly known
<br />as Blackthorn Golf Course, ceases to be used as a golf course; or (2) Developer, at its sole discretion, assigns its
<br />rights and obligations under this Section 27 to a home -owners association, created by Developer, for the benefit
<br />of the lot owners (the "HOA"). Upon a Termination Event, Developer will cooperate with the lot owners to
<br />create the HOA and make sure the management of the Subdivision is appropriately transferred to the HOA.
<br />28. UTILITIES AND TELEVISION ANTENNAS.
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