HomeMy WebLinkAbout1911 (4) A certificate of the Asssociation executed
by its president and seoretary and approvinq the purchaser shall be
recorded in the public records of St. Lucie County, Florida, at the
expense of the purchaser.
(5) If the Association shall fail to provide
a urchaser u n the demand of the unit owner in the manner ,
P po provided, ~
or if a purchaser furnished by the Association shall default in his
aqreement to purchase, then notwithstanding the disapproval, the
proposed transaction shall be deemed to have been approved and the E
Association shall fu~nish a certificate of approval as elsewhere
provided, which shall be recorded in the public records of St. Lucie !
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County, Florida, at the expense of the purchaser.
(b) ~ Lease. If the proposed transaction is a lease, ~
the unit owner shall be advised of the disa roval in writin and ~
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the lease shall not be made.
(c) Gifts; devi~se or inheritance; other tra~nsfers. '
If the unit owner ~giving notice has acquired his title by gift, devise
or inheritance, or in any other manner, then within thirty days after ~
receipt from the unit awner of the notice and information required to
~ be furnished, the Association shall deliver ar mail by registered mail
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~ to the unit owner an agreement to purchase the unit concerned by a ~
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purchaser approved by the Association who will purchase and to whom the '
E unit owner must sell the unit upon the following terms:
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~ (1) The sale price shall be the fair market
~ value.determined by agreement between the seller and purchaser within
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~ thirty days from the delivery or mailing of such agreement. In the
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~ absence of aqreement as to price, the price shall be determined by ar-
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~ -bitration in accordance with then then existing rules of the American
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~ Arbitration Association, except that the arbitrators shall be two !
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~ appra~.sers appoint~u by the American Arbitration Association who shall
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~ base their determination upon an averaqe of their appraisals of the ~
~ unit; and a judgment of specific performance of the sale upon the
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~ award rendered by the arbitrators may be entered in any court of com-
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petent jurisdiction. The expense of the arbitration shall be paid by the
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