Article VIII MORTGAGES
SECTION 1. Notice of Unpaid Common Expenses.
The Board of Directors, whenever so requested in writing by a purchaser or mortgagee of any interest in an apartment, shall promptly report any then unpaid assessments for common expenses due from the owner of the Apartment involved.
SECTION 2. Notice of Default.
The Board of Directors, when giving notice to an Apartment owner of a default in paying common expenses or other default, shall send a copy of such notice to each holder of a mortgage covering such Apartment or interest therein whose name and address has theretofore been furnished to the Board of Directors.
SECTION 3. Examination of Books.
Each owner and each mortgagee of an Apartment shall be permitted to examine the books of account of the Condominium at reasonable times, on business days, but not more often than once a month.
SECTION 4. Mortgage Protection.
Notwithstanding all other provisions hereof:
(a) The liens created hereunder upon any Apartment and its appurtenant interests in the common elements shall be subject and subordinate to, and shall not affect the rights of the holder of any indebtedness secured by any recorded mortgage under such interests made for value, provided that after the foreclosure of any such mortgage there shall be a lien upon the interests of the purchaser at such foreclosure sale to secure all assessments, whether regular or special, assessed hereunder to such Apartment if falling due after the date of such foreclosure sale, which lien shall have the same effect and be enforced in the same manner as provided in Section 4 of ARTICLE VI hereof.
(b) No amendment to this Section 4 shall affect the rights of the holder of any such mortgage filed in the Office of the Assistant Registrar of the Land Court or the Bureau of Conveyances prior to the filing of such amendment who does not join in the execution thereof.
SECTION 5. Notice to Board of Directors.
An Apartment Owner who mortgages his interest in an Apartment shall notify the Board of Directors of the name and address of his mortgagee and within ten (10) days after the execution of the same shall file a conformed copy of the note and mortgage with the Board of Directors; the Board of Directors shall maintain such information in a book entitled "Mortgages of Apartments'.
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