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40 <br />•• <br />issuance of the Prior Lien Obligations, and distributed as above <br />provided. The County further covenants, at its expense, to fur- <br />nish to any Registered Owner requesting the same, 60 days after <br />the due date of each annual installment, a list of all delinquent <br />installments, together with a copy of the County annual audit. <br />D. FORECLOSURE OF ASSESSMENT LIENS. If any property <br />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 />and the holders of the Prior Lien Obligations. The County shall <br />have the power and shall lease or sell such property, and deposit <br />all of the net proceeds of any such lease or sale into the <br />Improvement Fund, after satisfaction of the provisions of the <br />resolutions authorizing the issuance of the Prior Lien <br />Obligations. Not less than 10 days prior to the filing of any <br />foreclosure action as herein provided, the County shall cause <br />written notice thereof to be mailed to any designated agents of <br />the Registered Owners. Not less than 30 days prior to the pro- <br />posed sale of any lot or tract of land acquired by foreclosure by <br />the County, it shall give written notice thereof to such <br />representatives. The County agrees that it shall be required to <br />take the measures provided by law for sale of property acquired <br />by it as trustee for the Registered Owners within 30 days after <br />the receipt of the request therefor signed by the Registered <br />Owners of 15% of the aggregate principal amount of the <br />outstanding Bonds. <br />E. 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 />•-22- <br />