MAINTENANCE AND SERVICE ASSESSMENT

The Lake Helmerich Village Homeowners Association shall assess and collect from the  owner of each lot an amount not exceeding $350 per year for each lot and homeowners an amount not  exceeding $1000 per year plus $350 for each additional lot owned. These fees are  assessed for the maintenance (without limitations to) facilities, roads, lakes, dams, boat docks, parks,  security, fire protection and any other equipment and services maintained for the health, welfare and  enjoyment of the property owners and their guests within the confines of LAKE HELMERICH VILLAGE. 

Such assessments shall be made upon lot owners and purchasers of record on January 1st each year and  shall be a lien on the lot until fully paid. In the event an owner fails to pay such assessment by April 1st of each year, the ASSOCIATION may enforce the lien by foreclosure and may deny the owner and  occupants of said lot the right and privilege to use the facilities for which the maintenance and service  assessment is made. The lien of this assessment shall be absolutely subordinate to the lien of any first  mortgage now or hereafter placed upon the lot subject to assessment.