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shall be offered for sale for the non-payment of any Assessment, <br />and no person or persons shall purchase the same for an amount <br />equal to the full amount due on the Assessment (principal, <br />interest, penalties and costs), the property shall then be <br />purchased ,in the name of the County for an amount equal to the <br />balance due on the Assessment (principal, interest, penalties and <br />costs), and the County shall receive in its corporate name the <br />title to the property for the benefit of the Registered Owners. <br />The County shall have the power and shall lease or sell such <br />property, and deposit all of the net proceeds of any such lease <br />or sale into the Improvement Fund. Not less than 10 days prior <br />to the filing of any foreclosure action as herein provided, the <br />County shall cause written notice thereof to be mailed to any <br />designated agents of the Registered Owners. Not less than 30 <br />days prior to the proposed sale of any lot or tract of land <br />acquired by foreclosure by the County, it shall give written <br />notice thereof to such representatives. The County agrees that <br />it shall be required to take the measures provided by law for <br />sale of property acquired by it as trustee for the Registered <br />Owners within 30 days after the receipt of the request therefor <br />signed by the Registered Owners of 15% of the aggregate principal <br />amount of the outstanding Bonds. <br />F. OTHER OBLIGATIONS PAYABLE FROM ASSESSMENTS. The <br />County will not issue any other obligations payable from the pro- <br />ceeds of the Assessments nor voluntarily create or cause to be <br />created any debt, lien, pledge, assignment, encumbrance or other <br />charge upon the Assessments. <br />G. BOOKS AND RECORDS. The County shall keep books and <br />records of the collection of the Assessments, which such books, <br />records and accounts shall be kept separate and apart from all <br />other books, records and accounts of the County. The Clerk of <br />the Board shall, at the end of each Fiscal Year, prepare a writ- <br />ten report setting forth the collections received, the number and <br />amount of delinquencies, the proceedings taken to enforce collec- <br />-20- BOOK 57 P':uE 644 <br />JUL 11 1984 <br />