HomeMy WebLinkAbout1329 15.4 Leasing. After approval by the Association elsewhere
required, entire apartments may be rented provided the occupsncy is
only by the lessee and his family, his servants and guests.
15.S Regulations. Reasonable regulations concerning the use
of condominiwn property may be made and amended from time to time by
the Association in the manner provided by its Articles of Incorporation~
and By-Laws. Copies of such regulations and amendments shall be furnished
by the Association to all apartment owners and residents of the condominium
upon request.
15.6 Proviso. Provided, however, that until developer has
completed all of the contemplated fmprovements and closed the sales of
all the apartments of the condominium, neither the apartment owners or
the Association nor the use of the condominium property shall interfere
with the completion of the contemplated improvements and the sale of the
apartments. Developer may make such use of the unsold units and common
areas as may facilitate such coiapletion and sale including, but not limited
to, maintenance of a sales office, the showing of the paoperty and the
display of signs.,.
16. CONVEYANCES. In order to assure a co~unity of congenial
residents and thus protect the value of the units, the sale, leasing and
mortgaging of unita by any owner other than the developer shall be
subject to the following provisions.
16.1 Sale or Lease. No unit owner may lease his apartment
for a term of less than one (1) month.
A unit owner may lease his unit for a term of not less than one
(1) month nor more than ten (10) months out of any consecutive tWelve (12)
months with out prior approval aE the Board of Directors of the Association
except where such lease is to a member of the Association. If the lessee
is a corporation, the approval may be conditioned upon the approval of
all the intended occupants of the unit. The approval oE the Directors sh~ll
be obtained in the manner hereinafter provided; EXCSPT, the provisions of
this Section 16 ~entitled "Conveyances" shall not apply to a transfer to or
a purchase by a bank, life insurance company or savings and loan associa-
tion which acquires its title as a result of owning a first mortgage upon
the unit concerned, and this shall be so whether the title is acquired
by a deed from a~rtgagor or through foreclosure proceedings; nor sha11
~ such provisions apply to a transfer, sale or lease by a bank, life insurance
campany or federal savings and loan association which so acquired its title.
~ (1) Notice to Directors. A Unit Owner intending to make
~ a bona fide sale or a bona fide lease of over ten (10) months of hfs
unit, or any interest therein, shall give notice to t he Directors of such
intention, together with the nam~ and address of the intended purchaser or
lessee, such other information as the Directors may reasonably require,
and the terms of the proposed transaction.
(2) Approval of Directors. Within thirty (30) days,After
receipt of such notice, the Directors must either approve the transaction,
or furnish a purchaser or lessee approved by the Directors who Will accept
the transaction upon ter~as as favorable to the seller as the terms stated
in the notice, except that a purchaser or lessee furnished by the Directors
may have not less than thirty (30) days subsequent to the date of approval
within which to close the transaction, and except that the approval of a
corporation may be conditioned as elsewhere stated. The approval of the
~ Directors shall be in recordable form and shall be delivered to the purchaser
~ or lessee and recorded in the public records of St. Lucie County, Florida.
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