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HomeMy WebLinkAbout0466 -22- ~ ; 2. Certificate of Approval. ~ a. Sale. If the~_proposed transaction is a s e, then xithin 30 days after receipt of such notice and information, the Associa- tion must either approve or disapprove the ` proposed transaction. If approved, the approvail shall be stated in a certificate executed by the President and Secretary of Lhe Association, which sha11 be recorded in the Public Records of St. Lucie County, Florida, at the expense of the purchaser. b. Lease, If the proposed transaction is a Tease, then xithin 30 days after receipt of such notice and information, the Asso- _ ciation must either approve or disapprove the proposed transaction. If approved, the approval shall be stated in a certifi- cate executed by tne~ President and Secre- tary of the Association in rec~rdable form, ~ which, at the election of the Association, ; shall be delivered to the lessee or shall be recorded in the Public Records of ~5t. Lucie County, Florida, at the expense of the lessee . ~ c. Gift • devise or inheritarice • other transfers. ~ t e dwe ing unit owner giving notice s ~ acquired his title bq gift, devise or inheritance, or in anp other manner, then ~ within thirty t30) days after rece~pt of ~ such notice and information, the Asso- ciation must either approve or disapprove ; the continuance of the dwelling unit owner's ~ ownership of h3s dMrelling unit. If approved, ~ the approval shall be stated in a certifi- cate executed by the President and Secre- tary of the Association, xhich shall be recorded in the Public Records of St. Lucie ; County, Florida, at the expense of the dwelling unit owner. ' C. Disapproval by Association. If the Association shall ; - i disapprove a transfer of ownership of a dwelling unit, the matter ~ ; ~ ~ ; shall be disposed of in the~ follo~ring manner: ' i ~ ~ 1. Sale. If the proposed transaction is a sale ~ ~ an~if the notice of sale given by the d~relling ; unit owner shall so demand, then within thirty f days after receipt of such notice and infornna- ; tion, the Association shall deliver or mail ~ by registered mail to the dwelling unit or~mer an agreement to-purchase the dwelling unit con- ; cerned by a purchaser approved by the Associa- ` tion Kho will purchase and to whom the dwe13- ing uni~ oHner must sell the dwelling.uait upon the following terms. ~ , a. At the option of the purchaser to be stated ` . in the agreement, the price to be paid ; shall be that stated in the disapproved ~ : contract to sell or shall be the fair market ~ value determined by arbitration in accord- ance with the thea existing rules of the ` ; American Arbitration Association, except ; that the arbitrators shall be txo appraisers ~ ~ ` ~iI PALf ~ ~ . : . v - _ -