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• 9. 10. 82 C169-018 E(— 138831 w dates shall be established by the Association. The Associa- tion shall, upon demand, and for a reasonable charge, fur- nish a certificate signed by an officer of the Association setting forth whether the Assessments on a specified Lot have been paid and said certificate shall be conclusive evidence of such payment. 14.8 Effect of Nonpayment of Assessments. Any annual or special Assessment levied against a Lot which is not paid when due shall become delinquent. With respect to each Assessment not paid within fifteen (15) days after its due date, the Association may, at its option, require the Owner to pay a late charge in a sum to be determined by the Association. If any such Assessment is not paid within thirty (30 ) days after the due date, the Assessment shall bear interest from the day .of delinquency at the maximum rate permitted by law,' and the Association may, at its option, bring an action at law or equity against the Owner personally obligated to pay same, or in compliance with the notice provisions set forth herein, to foreclose the lien against the Lot, either by power of sale or by an action at law. There shall be added to the amount of such Assessment the late charge, all costs of foreclosing said lien, includ- ing interest and attorneys ' fees and costs. Each Owner vests in the Association, its successors and assigns, the right and power to exercise the power of sale or to bring -55-