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D. Any perso~ who acquired an interest in a unit , ;
including, without limitation, pe~sons acquiring title
by operation of law, including purchasers at judicial ~
sales, shall ~ot be entitled to~occupancy of the~unit or
e~joyment of the common eleme~ts until such time as all
unpaid assessments due and owing by the former unit ~
owne~ have been paid.
E. The Condominium Associafion formed shall levy
a~d co1lect a reasonable monthly assessment against the
owne~s of each unit sufficient to cover each unit's p~o-
portionate sha~e of the actual cost of ope~ating and i
mai~taining all common use property and facilities, pro- ~
viding water, electricity and garbage disposal service,
sewage service, gene~al maintenance, and carrying out ~
its duties hereunder as "management". likewise, the ~
Association shall jnclude in the assessment so made the
sum adequate Lo pay all real property taxes on the Con- ~
dominium parcel as well as the common elements. The
coilection of these sums shall be provided for in an
adequate manner to assure tf~e maintenance necessary.
Whe~ the unit owner is not in possession of his unit as
p~ovided i~ Article XI hereof, the Developer r~ay unde~-
take to rent to others. Re~tal income may be apportioned i
as provided and d'+sbursement wiil be made as to the unit
owner's portion first to accrued Condominium charges with
the residue, if any, to the unit awners.
XI. ~
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PROVISIONS RELATING TO RENTAL OR SALE OF ~
GONDOMINIUM UNITS -
j A. Inasmuch as the Developer is in the general
! business of developing and operating resort parks, in-
~ cluding advertising, in the establishment of a national ;
~ image, it is in a superior position to establish ~ental ~
rates. Therefore, it shall have first right of refusal 1
whether it shall establish and operate all parcels in
the Condominium for rental after completion of sales.
Should it exercise its option to remain active in the ~
rental program of the Condominium after completion of =
sales, the proceeds of all rental shall be divided egual- ~
ly between those parcels involved in the rental program~ ~
with the Developer, with parcels sharing equally one with
another as to its proportional part. The Developer's
one-half share ~hall be retained as compensation to it
for its management~ advertising, promotion, etc. Should #
r any owner of a Condominium parcel choose to permit the -
r use thereof by a friend or relative, it is distinctly
~ understood that such user shall register with the office
~ of the Developer and shall pay one-half of the established y
~ rental ~ate which one-half shall be retained exclusively
~ by the Developer as it's portion of revenue to which it
is entitled for use of lots other than by the owner;
~ provided however, the parents or children of the owners
of the respective Condominium parcels are excepted from such
~ ob l i gat i on of payment .
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B. No resale transaction shall be accomplished ~
with respect to any unit effecting a changp in owner-
ship upon the books until there shall haYi bslm•p~~~~~~•
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