3446

LAWS OF MARYLAND

Ch. 736

may petition the circuit court for the county in which the
condominium is located to reform the recorded statement of
condominium lien to correct any error therein. On full payment
of the assessment and other permitted amounts for which the lien
is claimed the unit owner shall be entitled to a recordable
satisfaction of the lien in any form used for the release of
mortgages in the county in which the condominium is located.
Fees and charges imposed under § ll-109(d) and fines imposed
under § 11-113 are enforceable as assessments under this
section.]

(D) PAYMENT OF ASSESSMENTS, TOGETHER WITH INTEREST, LATE
CHARGES, IF ANY, COSTS OF COLLECTION AND REASONABLE ATTORNEY'S
FEES MAY BE ENFORCED BY THE IMPOSITION OF A LIEN ON A UNIT IN
ACCORDANCE WITH THE PROVISIONS OF THE MARYLAND CONTRACT LIEN
ACT. SUIT FOR ANY DEFICIENCY FOLLOWING FORECLOSURE MAY BE
MAINTAINED IN THE SAME PROCEEDING, AND SUIT TO RECOVER ANY MONEY
JUDGMENT FOR UNPAID ASSESSMENTS MAY ALSO BE MAINTAINED IN THE
SAME PROCEEDING, WITHOUT WAIVING THE RIGHT TO SEEK TO IMPOSE A
LIEN UNDER THE MARYLAND CONTRACT LIEN ACT.

(e) (1) Any assessment, or installment thereof, not paid
when due shall bear interest, at the option of the council of
unit owners, from the date when due until paid at the rate
provided in the bylaws, not exceeding 18 percent per annum, and
if no rate is provided, then at 18 percent per annum.

(2)  The bylaws also may provide for a late charge of
$15 or one tenth of the total amount of any delinquent assessment
or installment, whichever is greater, provided the charge may not
be imposed more than once for the same delinquent payment and may
only be imposed if the delinquency has continued for at least 15
calendar days.

(3)  If the declaration or bylaws provide for an
annual assessment payable in regular installments, the
declaration or bylaws may further provide that if a unit owner
fails to pay an installment when due, the council of unit owners
may demand payment of the remaining annual assessment coming due
within that fiscal year. A demand by the council is not
enforceable unless the council, within 15 days of a unit owner's
failure to pay an installment, notifies the unit owner that if
the unit owner fails to pay the monthly installment within 15
days of the notice, full payment of the remaining annual
assessment will then be due and shall constitute a lien on the
unit as provided in this section.

[(f) The lien may be enforced and foreclosed by the council
of unit owners, or any other person specified in the bylaws, in
the same manner, and subject to the same requirements, as the
foreclosure of mortgages or deeds of trusts on real property in
the State containing a power of sale, or an assent to a decree.
Suit for any deficiency following foreclosure may be maintained
in the same proceeding and suit to recover a money judgment for
unpaid assessments may be maintained without waiving the lien