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Section 5. Default in Pa ent of Common Ex 8n8e.. payment of a..6.am~nt. made on or before ten 10 day.. ter the date When due ahall not bear intere.t. In the .vent any own.r doc. not make payment on or before ten (10) day. after tbft date Vhftn due, aucb OWner ahall be obligoted to pay intereat on .ucb aese..ment at the rate of 10\ per annum or the higheat rate of i tere.t Whieh may be charged theracn pureuant to the lawe of the dtBte of Hinnesota relative to usury. whichever i. higher, from tbe date due, together with all e~penses. including rea.onable attorneys' fee~ incurred by the Board in any proceeding brought to collect any such unpaid a.sessment. The Board of Director. .hall have the ri9ht and duty to attempt to recover all a...'lmenta for Common Expen.es. together with interest thereon and the expense. of the proceeding. including reasonable attorneys' fees. in an action to r~cover the aame brought aga1~.t an OWner or by foreclosure of the li~n on an apartment under Section SlSA.3-llS, Chapter SISA, Minnesota Statut~~, and any etatute ammendatory thereof or .upplementa~t thereto. by an aetlon in the na~ure of an action to forecl~~d a mortgage. Section 6. Foreclosure of Liens for Unpaid As.essment.. In any action brought by the ~ss~ciation to foreclose a lien on a Unit because of any unpaid asaeSGments or installments of assessments, the OWner may be required by the Board of Director. to pay a reasonable rental for the use of th~ Unit and the A.sociation .h~ll be entitled to the appointment of a receiver to collect the .ame. Section 7. Recorda. ~Ie Boa~d of Di~ectors .ball cause to be kep~ at the registerel! office of the Ass"..'ie.tion or at .ucb oth~r p~ace as the Board of Directors may dete~~ne. records of the actions of the Doa~d of Directors, Mlnutes of the meetings of the Board of D~r.ctor8, minute3 of the meetings of the Hembers of the Aftsvciatlon, names of the OWn~r8 and names of any First Mortgagees who have requested the notice of default described in Section 12.1 of ART!CLE XII of the Declar~tion and the Unit on which auch First Mortgagee holds a mort9a~e, and d~~a~led and accurate records. in chronological order, of the receipts and expenditure. affecting the Corr~on Elements. Su~h records of receipts and expenditures and tne vouchers authorizlng payments shall be available for eXD.rnlnation by t.he Owners or :tortgagees at convenient hours of w~e~days. Separate a~counts shall be maintalJled for each ~ni t set tin9 forth tl,e amount of the assessments agalnst the Unit. the date when due, the amount paid thereon and the balance rema~ning unpaid. ARTICLE VI AMENDMENT TO BY-LAWS O.ction 1. ~eBe By-Laws may be amended only under the following conditione: -14- t