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Home My WebLink About1867 ~ ~ (e) Failure to ive noti.;e. IP notice to the Aaeociation aa hereir~a ve requ re e no~'-givan, then at any time aPter receiving knoMledge of a tranaaation or event tranePerring oNnerahip o! an apartment, the Aasoaiation, at its eleation and Nithout notiae, mey approve or diaapprove the transaction. If the Aasoaiation diaapprovea the tranaaation, the Aasoaiation shall proaeed ae if it had reaeived the required notice on the date of~ disapproval. Any. sale, nwrtgage or lease Nhiah is not authorized purauant to the tarms and provisione of this Declaration shall be void unleaa subaequently approved in xriting by the Asaociation. ~ 13.3 Disapproval by Aasociation. IP the Aasoaintion shall disapprove a~~er o o~rnera"fi pi"~o~ an apartment, the matter ahall be dispoaed in the following manner: ~ (a) Sale. If the proposed transaation ia a sale ani if the notice of sale given by the apartment oNner shall so deinand, then Kithin thirty (30) daqe after receipt of such notice ani inform~tion the Asaociation ahall deliver or ~ mail by registered mail to the apartment oMner an agreement to purahase the apartment sigr~d by a purchaaer approv~ed by the Aasociation, or an agreement to_purchasa signed in behalf of the Association by its President and atteated by its Sec~etary, in,ahich event the apartment owner~shall sell the apartment to the named purchaser at th~e price ani upon the ~ terms stated in the disapproved contract to sell, eacepting ~ that at ths option of the named purchaaer the purchase price may be paid in cash at closing. (1) The sale shall be closed Nithin thirty {30) days after delivery or mailing oP the agreement to pur- chaae, or upon the date designated in the disapproved contract, Mhichever date shall be later. (2) A certiPicate oP ~he Association executed by ar~y of its officera in reaordable Porm ahall be deliv- ered to the purchaser. , (3) If the Aasoaiation shall Pail to purchase or ~ provide a purchaser upon demand of the apartment oMner ' in the manner provided, or if ths purahaser Purt~iahed ~ by the Aasociation ahall default in his agreement to E I purchase, the proposed tr~nsaction ahall be deemed to i have been approved, and the Association~shall Purnish f a certificate of approval as elseMhere provided, in re- i cordable form. i ~ ~ (b) Lease. If the proposed transaction ia a lease, ~ the apartmen~ owner ahall be advised of the disapp~oval in ~ writing, atxi ~the lease shall not be made. ~ (c) aiPt devlse or inheritance; other tranafers. If o the apartmen o~tner g ng no ce as acq re s e by ~ giPt, devise or inheritance, or in arqr other manner, then within thirty (30) days after receipt from the apartment ' oMryer of the notice and information required to be furniahed, ~ the Association shall deliver or mail by regiatersd mail to the apartment o~rner an agreement to purchase the apartment ~ concerred by a puraha.ser approved by the Asaociation Kho rrill ~ purchase and to Nhom the apartment oxr~er muat se12 the apart- ~ _ ment upon the folloMing terms : - ~ ~ (1) The sale price ahall be the fair mar~oet val- = ue determined bq agreement betxeen the seller and the ~ purahaser Nithin thirty (30~ days from the delivery ~ or mailing oP auch agreemen . In the absence of agree-~ ~ ment aa to price, tY~e priae shall bs determined bq ar- bitration in accordance xith the then eaiating rules ~ of the American Arbitration Aasociation, exaept that ~ pQ ~ ~ 600K 100 PACE18~ ~ ' 17' ~ LAW OFfiG[f O~ OOL~DifTtIN, FRANKLIN. CHONIN ! iCMRANK. R A., 2020 NORTH[AfT 10~~0 STRE[T. NORTM MIAMI ~[AGH. RLORIOA iifS! ~~~-r?~,~: "a-a~'"'.~~ ~"`,5 . - - ~ . ~ 4 ~ ~ - r s~ ~ r x? ~ ;a?~. ~ ~ ,,,':r` -5. ,