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HomeMy WebLinkAbout0954 d. A certificate o£ the Association, executed ; by its President and Secretary and approvin~ r the purchaser,shall be recorded in the pub- lic records of St. Lucie ('ounty, Florida, at the expense of the purchaser. ~ e. Tf the Association shall fail to provide a purchaser upon demand of the dwelling unit owner in the manner provided, or if a pur- chaser furnished by the Association shall default in his agreement to purchase, then, notwithstandin~ the disapproval, the pro- posed transaction shall be deemed to have been app~oved and the Association shall fur- rish a cei•tificate Qf approval as elsewhere provided, which shall be recorded in the publ~c records of St. T,ucSe County, Florida, at the expense of the purcnaser. 2. LEase. If the proposed transaction is a lease, t~~ie dwelling unit owner shall be advised of the disapproval in writing and the lease shall not be made. 3. Gift • Devise or Inheritance • ~ther Transfers. f the dwellin~ ur.it owner giving notice has acquired title by gift, devise or inheritance or in any other manner, ther within thirty -(3~) days af~er receipt from the dwelling unit owner of the notice and information required to be furnisY:ed, the Association shall deliver or mail, by re~istered mail, to the dwelling ~ unit owner, an agreement to purchase the dwell- ing unit concerned by a purchaser approved by the Association who will purchase and t~ whom the dwelling unit owner must sell the dwelling unit upan the following terms: a. The sale price shall be the fair market - ~alue determir.ed by agreemen~ between the seller and the purchaser within fifteen (151 days from the delivery or mailing ef such agreement. In the absence of a~ree- , ment as to price, the price shall be de~er-~ mined ~y arbitration in accordaree with the ~ then existing ru~es of the American Arbitra- tion Association, except that the arbitrators shall be two (2) appraisers appointed by the American Arbitration Association, who_shall base their determinati~on apon an aver3ge of : their appraisais of the dwellin~ unit; and i , a judgment of specific performance of the • sale ugon the award rendered by the arbi- ~rators may be entered in any court of com- petent ,jurisdictior.. The expense of the arbitration shall be paid by the purchaser. b. The purchase price shall be paid in cash. c. The sale shall be closed within ten (10) days following the determination of tr.e sale price. d. A certificate of the Assoc~ation, executed by its President and Secretary and approvir~g the purchaser, shall be recorded in the pub- lic records o~ St. Lucie Cour.ty, Florida, at the expense of the purchaser. e. If the Associa*ion sha21 fail t~ grovide a t _2 - ~l~~II~~ _ ~ ~ 3 ~ ~ : - ~ - _ ~ a°-.°~um.~: a _ :~.'s. ~..WY _ - . - . a r _~~...T'~b'