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at judicial sales, shall not be entitled to occupancy of the unit or er~oyment of
the common elements until su,ch time as a11 unpaid assessments due and owing
by the former unit owner have been paid.
XL
PROVISIONS RELATIl~TG T~ SALE OR RENTAL OF
CONDOIV~JIUM UNFrS
No restrictions are placed herein, as far as renting or selling any
condominium unit, provided, hvwever, that aJl rentals thereof shall exclusivel
be undertaken by the developer, and for and in consideration of a schedule or
schedules to be promulgated from ttme to time by the developer. The develop-
er has undertaken an advertising prc,qram to promote the rental of the ~.id
. units both from itself, insofar as it relates to those wnits still owned by the
developer, and units sold and in private ownership.
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INSURANCE PROVISIONS ~
A. L?ABILITY INSURANCE
• The Boar~ of Directors of the Association sha~l obtain Public
Liability and Property Damage insurauce covering a1t of the common ~lements
and the condominium units, and insuring the Association and the unit owners
as its and their interest appear, in such a.mounts as the Board of Directors of
` the A~sociat3on may determine from time to time, provided that the minimum
amount of coverage shall be $250, 000/500, 000/10, 000. Said insuran~ce sha11
include, but not ]imit the same, to water damaqe, legalliability, hired auto-
mobile, non-owned automobile and off-premises employee coverages. All
liabil3ty insurance sha11 contain cross-liability endorsement to cover liabilitie
of the unit owners as a group to a unit owner. Premiums for the payment of
such insurance sha11 be paid by the Associa~ion and charged as a common -
expense. .
~ B. CASUALTY INSURANCE
~ ~ Insuranc~ The Association sha11 obtain Fire and
~ 1. Purchase of
~ Extended Covera.ge Insurance and Vandalism and Malicious Mischief Insu~ance
insurinq a11 of the insurable improvements within the condominium including
personal property owned by the Association, in and for the interest of the
Association, all unit owners and their mortga,qees, as their interests may
appear, in a company accep~table to the standards set by the Boaxd of Directors
of the Association, in an amount equal to the maximum insurable replacement
valwe a.s determined annually by the Board of I7irectors of the Association; the
premium s for such co~eraqe and other egpenses in connection with sa~d ins-
urance sha11 be paid by the Associa.tion and charged as a common expense.
The company or companies with wliom the Association sha11 place its insurance
coverarge as provided in this Declaration must be good and responsible com-
panies authorized to do business in the &ate of Florida.
2. Loss Pa.yable Provisions. All policies p~rchased by the Associa.
R• sc°'T tion sha]1 be for the bene~it of the Association, a11 unit owners and their mort-
~non?+cr ~T uw ~ees, ~ 1ily~ as their interest rnay appear,
- 700 COIORADO AYplYt .
. fTUART. /LOAIDA
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a~K l6~ ~~354
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