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HomeMy WebLinkAbout2763 section 4. No Waiver of Riqhta Tha failure of the Aseoci- ation or of a~ wnit owner to enforce any right, provision, covenant or condition which ma~y be granted by the condominiw~n documents shall not conatitute a waiver of the riqht of the Association or unit awner to enforce such riqht,~provision, covenant or condition of the f uture . Section 5. ~No Election of RemQdies All rights, remedies and privileges qranted to the Association or unit owner pursuant to any terttus, provisions, covenants or conditions of the condo- ~ minium docwaents, shall be deemed to be cumulative and the exerciBe of any one or mor~ shall not be deemed to constitute an eZection~ of remedies. nor shall_it preclude the party thus exercising the same from exercisinq such other and additional riqhts, remedies oic privileqes as may be granted to such other- party by the condo- miniwn documenta, or at law, or in equity. ~ ARTICLE VIII. ACQUISITION OF UNITS . Acquisition on Foreclosure At any foreclosure sale of a ' ~ unit the Board of Directors may, with the authorization and ap- proval, by the affirmative vote of Votinq Members c,asting not less than three-fourths of the total votes of the unit owners, wherein _ said matter is voted upon, acquir8 in the name of the Corporation or its designee, a condominiwn parcel being foreclosed. The term ~ "foreclosure" as u8ed in this section shall mean and include any foreclosure of any lien, includinq a lien for assessments. ~The power of the Board of Directors to acquire a condominium parcel at any foreclosure sale shall never be interpreted as any requirement ~ or obli ation on the ~ q part of the Board of Directors, or of the . t Corporation, to do so at any foreclosure sale, the provisions . hereof beinq permissive in nature and for the purpose of settinq ~ ~ , forth the---poWer in the Board of Directors to do so should the . requisitg approval of the Votfnq Members be obtained. . ARTICLE IX. AMENDMENT TO TIiE BY-LAWS ` j Subject to the provisiona of Article XVI, Section 5 hereof, - - ~ooK186 ~~E2`75fi ~ . ~ ~ s,r _ _ ~~~r~ -a a ~a . . . _ . , - . ~ ~ ,~'y"'xt. ,.r.,: ~ fi r .t_a2~i': . ~e.