DECLARATION OF PROTECTIVE COVENANTS,
However, where the holder of a First Mortgage of record, or other Purchaser of a Unit at a foreclosure sale of a First Mortgage, obtains title to the Unit as a result of foreclosure, or the First Mortgage holder obtains title by conveyance in lieu of foreclosure, such acquires of title, his successors or assigns, shall not be liable for, and ... ................
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