(1) An owner shall pay the owner's proportionate share of:

1. (a) the common expenses; and
2. (b) any other assessments levied by the association.

(2) A payment described in Subsection (1) shall be in the amount and at the time determined by the board of directors in accordance with the terms of the:

1. (a) declaration; or
2. (b) bylaws.

(3) An assessment levied against a lot is:

1. (a) a debt of the owner at the time the assessment is made; and
2. (b) collectible as a debt described in Subsection (3)(a).