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HomeMy WebLinkAbout0467 -23- appointed by the American Arbitration Association, who shall base their deter- mir~ation upon an av~rage of their separate appraisals of the dwelling unit; and a~udg- ment of specific performance of the sale " ~spon the award rendered by the arbitrators may be entered in any court of competent ~urisdiction. ~he exp~nse of the arbi- tration shall be paid by the purchaser. b. The purchase price shall be paid in cash. c. The sale shall be closed within thirty (30) days after thQ deliverp or mailing of the ~ agreement to purchase, or within ten (10) _ days after the determihation of the sale price if such is by arbitration, whichever is the latter. d. A certificate of the Association executed by its President and Secretary and approving the purchaser shall be recorded in the Public Records of St. Lucie County, Florida, at the expense of the purchaser. ~ ~ If the Association shall fail to provide a purchaser upon demand of the dwelling unit owner in the manner provided, or if a purchaser furnished by the Association shall default in his agreement to purchase, then, notwithstanding the disapproval, the proposed transaction shall be deemed to have been approved and the Association shall furnish a certificate of approval as else- where provided, r+?hich shall be recorded in the Public Records of St. Lucie County, Florida, at the expense of the purchaser. 2. Lease. If the proposed transaction is a lease, t~ie'~welling unit owner shall be advised of ~ the disapproval in w~^iting and the leas~ shall i not be made. [ ~ 3. Gift• devise or inheritance• other transfers - ~ If t e dwe ling unit owner giving notice has acquired title by gift, devise or inheritanc , or in an~r other manner, then within thirty d~ys after receipt from the dwelling owner of the t.,, o.,.,.., ~ti.o the Association shall deliver or mail by regis- tered mail to the dwelling unit oxner an agree- ment to purchase the dwelling unit concerned ~ by a purchaser approved by the Association who ~ will purchase and to whom the dwelling unit owner must sell the dwelling unit upon the following terms: ~ ~ a. The sale price shall be the fair market ~ value determined by agreement between ~ the seller and the purchaser within fifteen ~ (15) days from the delivery or mailing of such agreement. In the absence of agree- ment as to price, the price shall be deter- ~ . mined by arbitration in accordance ~rith the f;= the~ existing rules of the American Arbi- ~ tration Association, except that the arbi- ~ trators shall be two appraisers appointed by the American Arbitration Association who shall base their determination upon an average of their appraisals of the dwelling ~ ~ 1~ ~ 4s7 ~y~ _ . . ~ r:~ :u:f _ ~ _ ~ _ _ _ _ ~ ~ u~ _ ~ ..a. ~ , . .