Page 35 - 018 Mutiny Bay - CCRs Second Amended Restated 2012 0605 REDUCED[2188]_Neat

shall be furnished within fifteen days after receipt of the request and is binding on the
Association, the Board, and every Unit Owner, unless and to the extent known by the recipient to
be false.

12.12 Acceleration of Assessments. In the event any monthly Assessment or special
charges attributable to a particular Unit remains delinquent for more than sixty (60) days, the
Board may, upon fifteen (15) days' written notice to the Owner of such Unit, accelerate and
demand immediate payment of all, or such portion as the Board determines, of the monthly
Assessments and special charges which the Board reasonably determines will become due during
the next succeeding twelve (12) months with respect to such Unit.

12.13 Delinquent Assessment Deposit: Working Capital.

12.13 .1 Delinquent Assessment Deposit.

(a) A Unit Owner may be required by the Board or by the Manager, from time
to time, to make and maintain a deposit of not less than one (1) month nor in excess of three (3)
months estimated monthly Assessment and charges, which may be collected as are other
Assessments and charges. Such deposit shall be held in a separate fund, be credited to the Unit
owned by such Owner, and be for the purpose of establishing a reserve for delinquent
Assessments.

(b) Resort may be had thereto at any time when such owner is ten (10) days or
more delinquent in paying his or her monthly or other Assessments and charges. Said deposits
shall not be considered as advance payments of regular Assessments. In the event the Board
should draw upon said deposit as a result of a Unit Owner's delinquency in payment of any
Assessments, said Owner shall continue to be responsible for the immediate and full payment of
said delinquent Assessment (and all penalties and costs thereon) and thus the full restoration of
said deposit, and the Board shall continue to have all of the rights and remedies for enforcing
such Assessment payment and deposit restoration as provided by this Declaration and by law.

(c) Upon the sale of a Unit, the seller/Owner thereof shall not be entitled to a
refund from the Association of any deposit or reserve account made or maintained with respect to
such Unit pursuant to this or any other Section of this Declaration, rather, any such deposit or
reserve account shall continue to be held by the Association for credit of such Unit, and the Unit
Purchaser shall succeed to the benefit thereof, and the Unit seller shall be responsible for
obtaining from the Purchaser appropriate compensation therefor.

12.14 Termination of Utility Service. In addition to and not by way of limitation

upon other methods of collecting any assessments, the Board shall have the right, after having

given ten (10) days' notice to any Unit Owner who is delinquent in paying his/her assessments, to

discontinue or cause the discontinuance of any or all utility services to the delinquent Owner's

Unit until such assessments are paid.

- 30 -