KRS 184.200: Penalty in case of installment default -- Acceleration -- Enforcement of

lien.

If any person liable for any part of said assessment defaults in the payment of any

installment thereof or interest thereon for one (1) month after payment becomes due, a

penalty of ten percent (10%) of the installment in arrears shall be added thereto, which

shall constitute a like lien as the assessment, and thereafter all unpaid installments of the

assessment against such person shall, at the option of the district, or of any holder of an

apportionment warrant or bond secured thereby, forthwith become due and payable. It

shall be the duty of the district, for the use and benefit of the owner or owners of such

bonds or apportionment warrants, to institute, in its own name a nd at its own cost, proper

proceedings for the enforcement of such lien, except that the costs of the action, including

attorneys' fees, shall be added to the amount of the delinquent assessment and shall be

first payable out of the moneys received through enforcement of the district's lien. If the

district fails to institute such proceedings for thirty (30) days after notice of such default,

any owner of a bond or apportionment warrant secured by such lien may, in his own name

and on his own behalf and on the behalf of other owners of such bonds or apportionment

warrants, institute and prosecute such proceedings in any court of competent jurisdiction.