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HomeMy WebLinkAbout1336 22.2 ASSUMPTION OF SUBLFASB. During the term of lease between IANDMARR oILIAS, INC. and VILTA D~ SOL, INC. and the sublease between VILIA DEL SOI., INC. and each individual owner, each subsequent purchaser of a unit shall be required fn order to obtain fee simple title to a condominium to assume the outstanding aublease between the unit owner ~ and VILIA DEL SOL, II1C. by executing an assianption agreement in the form attached hereto as ~chibit "G". The assigrnnent of which shall be executed ~ by the previous owner and the consent of the assignment shall be executed by the Association provided the purchaser has ozherwise been approved in accord- ance with ~ther provisions of this Declaration. 22.3 An owner who executes a mortgage on his unit in accordance with the provisions of paragraph 16.2 above shall have the right to include in said mortgage his leasehold interest pursuant to the sublease between the owner and VILIA DEL SOL, INC. 23. COM~L?ANCB AND DBFAULT. Bach apartment owner shall be governed by and shall comply with the terms of the Declaration of Condo~minitmm, Articles of Incorporation and By-Laws and the Regulations adopted pursuant to those doc.~ents, and all of such as they may be amended from time to time. Failure of an apartmp~t owaer to comply with such docwnents and regulations shall entitle the Association or other apartment owners to the following relief in addition to the remedies provided by the Condominiwn Act: 23.1 NRGLIGENCE. An apartment owner shall be liable for the expense of any maintenance, repair or replacement rendered necessary by his negligence or b.y that of any member of his family or his or their guests, employees, agents or lessees, but only to the extent that such expense is not met by the proceeds of insurance carried by the Associ- ation. An apartment owner shall pay the Association the amount of any increase in its insurance premiums occasioned by use, misuse, occupancy or abandonment of an apartment or its appurtenances, or of the co~oon elements, by_the apartment owner. 23.2 COSTS AND ATTORNEY8~ FEBS. In any proceeding j arising because of an alleged failure of an apartment owner or the i Association, the By-Laws, or the Regulatians adopted pursuant to them, ; and the doc~ments and r~gulations as they may be amended from time to time, ; the prevailing party shall be entitled to recover the costs af the proceed- t ing and such reasonable attomeys' fees as may be awarded by the court. ~ ! ~ } 23.3 NO WAIVER OF RI(~S. The failure of the Association ~ or any apartment owner to en€orce any covenant, restriction or other pro- vision of the Condominium Act, this Declaration, the Articles of Incorpora- ~ tion of the Association, the By-Laws ar the Regulations shall not consti- , tute a waiver of the right to do so thereafter. ~ . 24. TERMINATION. The condominium may be terminated in the - following manner in addition to the manner provided by the Condominium Act. ~ 24.1 DESTRUCTION. If it is determined in the manner elsewhere provided that the apartment building shall not be reconstructed be- ~ cause of major damages, the condominium plan of awnership will be terminated. 24.2 AGREFI~II:,Nr. The condominium may be terminated at ~ any time by the approval in ~,iriting of all record owners of apartments and ~ ~ all record owners of mortgages on apartments. If the proposed termination ~ is submitted to a meeting of the members of the Asaociation, the notice of ~ the meeting giving notice of the proposed tera~nation, and if the approval of the owners of not less than seventy five percent (75X) of the comoon ~ elements, and of the record owners of all mortgages upon the apartments, are ~ obtained in writing not later than thirty (30) days from the date of such ~ ~ meeting, then the approving owners shall have an option to buy all of the ~ ~ apartments of the other owners for the period ending on the sixtieth day fram ~ ~ the date of such meeting. Such approvals shall be irrevocable until the expira- ~ tion of the option, and if the option is exercised, the approvals shall be a ~ irrevocable. The option shall be upon the following terms: ; 1 ~ Page twelve ± ~ t i ~ gooK1$2 eac~1334 ` ~ . . ~ 3~ ~ ~ ~ - ~ _ ~ _ _ . - _ ~