HomeMy WebLinkAbout1362 . t
. _,?~t:c::~.•.~_~,..b.a...~..aw,..e~.....-....-~~....,,,...__~~..,~-.......__...~.__ - -
~
the Association's bank account; each check beinq equal respectively to 1/1 of
~ the estimated yearly amounts as to Items 1 and 2 above. Said checks sha11
be immediately deposited into the appropria,te savinqs deposit account,
Should a candominium unit owner fail to pay that portion of the
monthly assessment relating to Items 1 and 2 a~iove within thirty (30) days
from the due date, the condominium Association shall have the riqht, ~at
it is not required, to advance the necessary fur~ds, so as to deposit the
required monthly sum into the savings deposit accounts.
The Condominium Association shall have a lien for all sums so
advanced, togsther with interest thereon. It shall also have the right to
assign its lien on any unit owner or qroup of unit owners or to any third
party. .
~ The condominiurin unit owners herein consent to the establishment
of such a lien as a result of these advances in favor of the institution(s) or
Association, as aforedescribed. However, no such foreclosure action may ~
be brought by said in~stitutton or individual or qroup of individuals where
the Associa.t3on advances the necessary furras and assigns its lien, until -
the delinquent unit owner has received r~ot less than ten (10) days written
notice in this regard. ~
B. The owner of the respective condaminium unit shall not be
deemed to own pipes, wires, conduits, roads, sewage connections, etc. , or
other public utility lines runninq through the condominium parcel or unit
~ which axe utilized by or serve more tha.n one condominium unit, which items
are, by ~ese presents, made a part of ;the common elements.
C. The owners of the respective Gondominium units agree that if
~ any portion of a condominium unit or common element or limited common
f
~ element encroa~ches upon another, a valid easement for the encroachment
and maintenance of same, so long as it star~ds, sha~l anci does e~st.
~
~ D. That no owner of a cor~dominium parcel may e~empt himself
from liability for his contribution toward the common expenses by waiver of
the use and enjopment of any of the common elements, or by the abandonmen
of his condominium unit.
E. The Association shall for the owners of each and every con-
dominium parcel return the same for the purpose of a,d valorem taxes with
the Tax Assessor of the ceunty or such other future legally organized
qovernmental officer•or authority havinq ~urisdiction over t~e same.
Nothirig herein shall be construed, however, as givinq to any unit owner
the riqht of contrib~ution or any right of ardjustment against any other unit
owner on account of any devi.a.tion by the taxinq aut~horities for the valua.tions
~ herein prescribed, each unit owner to pay such ad valorem taxes ax~d
special assessments as are separately assessed a.qainst his "condominium
parcel" as set out hereinabove.
" For the purposes of ad valorem taxation, the interest of the owner
of a"condominium parcel" in i~is "condominium unit", and in the "common
w. R. scorr elements", sha11 be considered as a uni~ The value of said unit sha11 be
~rroRncv wT uw
70•~ COIORADO AY[NY[ _
StU~M. F<ORIDA ~
-12-
~ S~K168 ~1359
,
_ .
_ - -