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, participate in the purchase. Such an agreement ~
shall indicate which dwelling units will be
purc2zased by each participating owner and ~
shall require the purchase of all dwelling ~
units owned bq or~ners not approving the ter- ~
mination, but the agreement shall effect a . ~
separate contract between each seller and his ;
purchaser. t
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2. Price. The sale price for each dwelling unit ~
s~ia~ be the fair market value determined by ~
a,greement between the seller and the purchaser ,
within thirty (30) days from the delivery or ~
~ mailing of such agreement and in the absence :
of agreement as to price it shall be deter- !
ained by arbitration in accordance with the ~
then existing rules of the American Arbltra-
tion Association who shall base their deter-
mination upon an average of their appraisals of
the dwelling unit; and a judg,ment of specific
performance of the sale upon the aKard rendered
by the arbitrators map be entered in any court
of competent jurisdiction. The expense of the
arbitration shall be paid by the purchaser.
3. Pavment. The purchase price shall be paid in F
cash. #
Closin . The sale shall be closed within ten ~
days following the determination of the ;
sale price .
C. Certificate. The termination of the candominium -
in either of the foregoing manners shall be evidenced by a ?
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certificate of the Association executed by its President and ~
Secretary certifying as to facts effecting the termination, '
t xhich certificate shall become effective upon being recorded
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` in the Public Records of St. Lucie County, Florida. ;
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~ D. Shares of O~mers After Termination. After ter-
r
~ mination of the condominium, the dxelling unit owners sha11 own ;
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the condominium property and all assets of the Association as ;
tenants in common in undivided shares that shall be the same
~ as the undivided shares in the co~on elements appurtenant to
~ the oi+mers' dwelling units prior to the termination.
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B. Amendment. This section concerning termination
~ cannot be amended ~i.thout consent of all dxelling unit owners ;
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_4~: and of all record owners of mortgages upon the dwelling units. i
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~ A~tTICLE %YII
~ SEYERABILITY AND CONCLUSION
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~~p.r.. The invaliditq in whole or in part of any covenant or
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~ restriction of any section, subsection, sentence, clause, phrase
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