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Home My WebLink About0955 purchaser as required by this insiru- ment, or if a purchaser furnished by the Association shall default in his agree- ment to purchase, the ownership shall be deemed to have been approved, and the Associa- tion shall furnish a certificate of approval as elsewhere provided, which shall be re- corded in the public records of St. Lucie ('ounty, Florida, at the experise of the dwell- ing unit owne r. D. h10RTGAGE. No dwellin~ unit owner may mort~age his dwell- ing unit nor any interest in it without the approval of ~he Association, except to a~ank, life insurance company or a savings and loan associa- tien, or to a vendor to se~ure a portion or al~ of the purchase pr~ce. The approval of any other mortga~ee r~a}~ be upon conditions determined by the Association or may be arbitrarily withheld. E. EXCFPTIONS . The foregoing provision s of this se ction en- titled "Maintenance of ~c~at,Lnity Tnterests" sha11 not apply to a trans- fer to :~r purchase by a ba~k, life insurance company or savings and loan association tr~at acquires its title as the re sult of own~.~~ mortgage ~ upon the dweiling unit concerr~ed, and this shall be so whether the title is acquired by deed from the mortgagor, his successors or assigns, or threugh foreclosure proceedings; nor shall such previsions apply to a transfer, sale or lease by a bank, life insurance company or savings i ; and loan association that so acquired its t~tle. Neither shall sach pro- ~ j visions require the approval of a purchaser who acquires title to a ~ ~ dwelling ur~it a~ a dul~- advertised public sale and open bidding pro- vided by law, such as but not limiied to execution sale, foreclosure ~ sale, judiciai sale or tax sale. ~ F. UNA TH(~RIZED ?'RANSA('TIONS . Anv sale , mort~a e or lease ~ U _ g ~ net authorized pursuant tc ihe terms ef this Deciaration shall be void i ~ unless subsequently approt?ed by the Association. ~ j ~ ARTICLE %IV ~ C(MPI.IANCF AND DEFAULT f - Eac!: dwelling unit owr.er shall be ~overned by ar.d shall ccm- } E ~ ply with ±he terms of the i~eclaration of ~ondominium, Articles of Tn- ; {r t'~ corpo"ratior: ar~d By-Laws and tr.e Regulations adopted gursuant to those ~r ~ docar.:ents, ar.d all of such as :hey ICi$V be arr,ended from time ~o time . . - ~ ~ -24- ~19[) 96~ ~ ~ Tti ~ ~ n ~ _ _ ~ _ _ ~ i'~~~ 3~,?'C~_.,.: _n.'- a< v~___ v._, . . 'TC` a;~~%